CAMICO Posts Gain in Policyholders’ Surplus, Net Income of $2.1 Million
SAN MATEO, Calif.--(BUSINESS WIRE)--May 6, 2019--CAMICO ( www.camico.com ), the nation’s largest CPA-directed program of insurance and risk management for the accounting profession, posted total policyholders’ surplus of $42.6 million and net income of more than $2.1 million for the year ended December 31, 2018.
CAMICO’s policyholder retention rate for 2018 was 94 percent, and the company has continued to maintain key financial ratios at historically high levels for the past several years.
“CAMICO’s CPA-focused services, resources and expertise continue to be popular with policyholders and help drive our consistently high retention rates,” said Andrew M. Eassa, CPA, CVA, CAMICO chairman of the board. “We are well positioned to further enhance and refine the many ways we serve our policyholders over the long term.”
CAMICO delivers insurance, risk management and related services to more than 8,000 CPA firms and 50,000 staff members in 45 states and the District of Columbia. Founded in 1986, CAMICO is endorsed by state CPA societies and associations in Arizona, California, Colorado, Greater Washington D.C., Idaho, Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New York, Oregon, Tennessee, Utah, Virginia and Washington. CAMICO provides Professional Liability Insurance, Employment Practices Liability Insurance, and other insurance products needed by CPA firms.
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PUB: 05/06/2019 02:00 PM/DISC: 05/06/2019 02:01 PM