Nonprofits Insurance Alliance - 2018 NIA Annual Report

Pamela E. Davis Founder, President and CEO ANI, NIAC, NANI & AMS Tom Wander Chair of NIAC & AMS, Vice Chair of NANI For 2018, gross written premium for the Nonprofits Insurance Alliance totaled $139.2 million. Of that total, the Nonprofits Insurance Alliance of California (NIAC) wrote $85.7 million; the Alliance of Nonprofits for Insurance, RRG (ANI) wrote $50.0 million; and the National Alliance of Nonprofits for Insurance (NANI), our property reinsurance captive, retained $3.5 million on a net basis. We also managed an additional $9.8 million in premium for our companion property and volunteer accident programs, bringing the total business administered in 2018 to $149.0 million, an increase of 7.3 percent over 2017. At year’s end, the combined balance sheet showed total equity of $204.4 million and total assets of $530.5 million. Before dividends, the $15.0 million of combined net income was comprised of $11.5 million from NIAC, $2.3 million from ANI, and $1.2 million from NANI. Additionally, our A.M. Best rating of A (Excellent) VIII was affirmed December 5, 2018, and our Long-Term Issuer Credit rating was upgraded to a+. Despite the record breaking claims from the Camp and Woolsey fires, the NIAC Board of Directors determined that we can still reasonably share some of our earnings with our members and has declared a $3 million dividend in 2019. NIAC has declared $44.1 million in total dividends since 2007. NIAC’s dividend plan, based on premiums paid, rewards individual members for length of continuous coverage, as well as favorable claims experience. ANI is not yet large enough to pay a dividend; however, its members are accruing points toward essentially the same dividend plan that NIAC members share. Leading a nonprofit has never been easy. But, with decreased funding, increased community needs, and rising public scrutiny and service expectations, operating a nonprofit is ever more daunting. As a cooperative, our mission is to bring stability and predictability to the insurance purchase and support you when the worst happens. We aim to be invisible when you don’t need us, and invincible when you do! Thank you for placing your confidence in us. Stephen C. Sumner Chair of ANI & NANI, Vice Chair of AMS “The NIAC Board of Directors has declared a $3 million dividend for 2019...$44.1 million in total dividends since 2007.” Stephen C. Sumner Chair of ANI & NANI, Vice Chair of AMS A head for insurance. A heart for nonprofits. 3