Utica National Insurance Group has announced that it has become a billion dollar company for the first time in its nearly 104-year history.
The company surpassed $1 billion in direct written premiums on December 22, 2017.
Utica National Insurance Group is a national insurer that provides personal and commercial insurance products and services. The company was founded in 1914 and is headquartered in New Hartford, N.Y., with seven regional offices.
It began in 1914 as the Utica Mutual Compensation Insurance Corporation in Utica, N.Y. In its first year, the company posted $133,359 in net written premiums. The company has always been a mutual company, so it has focused on its customers rather than on stockholders.
Together with its independent agent network, the company works to deliver experiences that benefit its policyholders, from school safety seminars to homeowner tips for roof snow loads, according to Kristen Martin, Utica National Insurance Group executive vice president and chief operating officer, in a company press release.
Utica National has worked with independent agents since 1928 and has remained committed to this distribution model. The company will be working with agents to ensure that each are ready for the changing marketplace ahead, the release said.
The company plans to continue evolving and rolling out product and technology advances to match market needs, stated Utica National Insurance Group President and CEO Richard P. Creedon in the release.
Source: Utica National Insurance Group
Topics Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.