MERCHANTS NATIONAL INSURANCE COMPANY

MERCHANTS NATIONAL INSURANCE COMPANY

U. S. Insurer - 2015 EVALUATION

Insurer Number:

TDI Initial Date

Texas #

1-Sep-08

8012729079

State of Domicile:

Location of Main Administrative Offices:

Parent / Ultimate Parent:

Name of Insurance Group:

AA.M. Best's Rating

as of

Aug-15

Affirmed

NAIC #

AMB #

Issue Date

August-15

0226-12775

13588

New Hampshire

Buffalo, NY

Incorporation Date:

Commenced Business:

Merchants Mutual Insurance Company

Mrechants Mutual Group

Negative



2014

4-Nov-14

9-Aug-06

1-Jan-07

Parent Domicile

New York

2013

2012

2011

2010

30-Jun-15

Capital & Surplus

38,422,501

Underwriting Gain (Loss)

Net Income After Tax

Cash Flow from Operations

Return on Policyholder Surplus

Gross Premium

Net Premium

Gross Premium to Surplus Ratio

Net Premium to Surplus Ratio

Direct Premium Total

Direct Premium in Texas (Sch. T)

% of Direct Premium in Texas

Texas' Rank in writings (Schedule T )

SLSOT Premium Processed

Rank among all Texas S/L Insurers

Combined Ratio

IRIS Ratios Outside Usual Range

2013

125%

114%

1%

1%

98%

2.3%

9%

9%

92%

5%

Net Prem/Surplus

Change - Net Premium

Surplus Aid Ratio

2 Yr. Operating Ratio

Investment Yield

Surplus Change (Gross)

Surplus Change (Net)

Liab. to Liquid Assets

Agents Bal. to Surplus

34,649,507

(3,431,907)

(113,964)

2,003,461

1.9%

40,103,492

38,126,299

116%

110%

1,977,193

575,119

29%

2 of 19

785,958

135

109%

2

2012

129%

124%

11%

1%

103%

2.3%

-2%

-2%

94%

4%

Reserve Development

34,037,995

(3,998,395)

(1,647,991)

4,680,383

-3.9%

43,863,956

42,257,688

129%

124%

1,606,268

697,762

43%

1 of 16

682,778

138

110%

2

116%

110%

3%

0%

104%

2.6%

3%

3%

88%

2%

0%

8%

-3%

2Year Devl / Surplus

C.Deficiency / Surplus

7%

7%

-2%

22,952,709

(4,245,378)

(1,031,341)

5,756,156

-6.6%

40,764,195

33,864,452

178%

148%

6,899,743

2,505,811

36%

1 of 13

2,863,716

106

113%

1

3,000,000

2,500,000

2,000,000

1,500,000

1,000,000

500,000

Reserve Development

1Year Devl / Surplus

33,787,944

(5,679,655)

(2,229,362)

1,942,651

-6.2%

44,315,047

37,072,638

131%

110%

7,242,409

2,572,318

36%

1 of 16

2,777,945

104

116%

1

SLSOT Premium Processed

U. S. DOLLARS

2014

Gross Prem./Surplus

37,116,727

154,935

2,668,963

5,552,201

11.2%

46,320,225

42,494,946

125%

114%

3,825,279

2,062,290

54%

0 of 0

2,158,484

116

100%

1

-

2%

4%

-3%

2014

2013

2012

2011

2010

YEARS

UNDERWRITING RESULT

CAPITAL & SURPLUS

1,000,000

40,000,000

0

-1,000,000

30,000,000

U. S. DOLLARS

U. S. DOLLARS

35,000,000

25,000,000

-2,000,000

20,000,000

-3,000,000

15,000,000

-4,000,000

10,000,000

5,000,000

-5,000,000

2014

2013

2012

YEARS

2011

2010

-6,000,000

2014

2013

2012

2011

2010

YEARS

Prepared by: Surplus Lines Stamping Office of Texas

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