Evolving through Expertise

2021 Annual Report

Evolving through  

2021 Annual Report

Photograph of Evan Purmort
Evan Purmort
CEO & President

Letter from the President

Central began as a company rooted in fulfilling the promise. Over the years, we have never wavered on that commitment. How we fulfill that promise has evolved and grown alongside the changing needs of our agents and policyholders, but we’ve never lost sight of the integrity, relationships and excellence that serve as our North Star.

The past few years have taught us all a lot about what’s possible when we come together to do hard things. The choices we make today have an impact on what tomorrow will look like for everyone. 2020 was a year of asking questions and listening to our agents. 2021 was a year of action and innovation fueled by the insights we gained from those conversations.

Last year, Central went all-in on aligning with our agency partners. And, the results speak for themselves. In commercial lines, new business grew steadily across each of our industry verticals with construction ending the year as our largest segment. In personal lines, we improved pricing and selection to achieve profitability.

Investments in developing world-class technology transformed the way we do business. Deeper levels of data continued to drive decisions around the ways we design and refine our products—positioning us to better serve our policyholders and deepening our relationships with those who matter most.

As always, we remain focused on growing in step with you, our agents, policyholders and key partners. Expect to see more exciting products and programs roll out throughout 2022, but rest assured this innovation comes without compromise. Excellence, hospitality and relationships will always be our primary focus. The trust you have placed in us inspired great things last year—and it will remain the core of a shared success story we’ll continue writing together in the years to come.

Photograph of Evan Purmort

Evan Purmort
CEO & President

Evan Purmort's Signature

A Fresh Look for a Bright Future

Central underwent its first brand refresh in nearly 40 years in 2021. Our new brand better reflects the story we are poised to tell about Central's innovative, collaborative future while staying true to our core values of relationships, excellence and integrity.

Animation of Central Insurance Logo

Central has 145 years of rich history, but our aesthetic didn't reflect our focus on embracing innovation and growth. The brand refresh doesn't change who we are as a company; it gives us a better way to share that story with the world.

Taylor Ray Orsbon
Director of Brand and Marketing Strategy

Growth Rooted in Intention and Innovation

For Central, growth has never been about adding more agents; it's arming our existing agents with the right products to meet the evolving needs of our policyholders.

Growth Image
Growth Image
Growth Image

In 2020, we spent significant time talking with our partners to fully understand their wants. Across those conversations, a resonating theme emerged: our agents have a desire to go deeper with Central and a need for more products.

We took this feedback to heart in 2021, leveraging the specialized expertise of our vertical teams to drive innovation. Our new vertical directors are focused on enriching our growth strategy, and the direct impact of their efforts can already be seen in the form of increased profitability, thoughtful partnerships and exciting new product offerings.

Central is successful as a company, in large part due to relationships. There are larger insurance companies with more resources, but agents choose us because they know we care about their business and value our relationship with them.

James Barto
Vice President — Commercial Lines

From Opportunity to Outcome

Outcome graphic

Commercial lines at Central grew by 15% last year, more than doubling the prior year's growth, while personal lines achieved profitability for the first time in several years.

Through a partnership with Tarmika, we streamlined and simplified the commercial lines quoting process for our agents. The package policy is now live and we plan to roll out our business auto policy later this spring.

Outcome graphic
Outcome graphic

Our Multivariate Rating Plan (MVP) for personal auto policies opened the door to deeper data insights that empower us to better evaluate risk and provide fairer pricing.

Outcome graphic

We revamped the tier structure on our Workers' Compensation dividend program to give underwriters more flexibility when addressing specific needs.

Outcome graphic

Through a partnership with CAPE Analytics, we're leveraging artificial intelligence and geospatial imagery to better select properties, evaluate risk, and streamline the underwriting process.

Success Rooted in Growing Together

Aligning with our agents has always been the core of Central’s growth strategy. From writing nearly $10 million in manufacturing new business to growing our construction book by nearly 30%, our vertical strategy resulted in impressive growth throughout 2021—and we’re just getting started.

Central Insurance Logo

We are focused on growing with our existing agents by giving them the tools and products they need to succeed. Central's integration with Tarmika was driven by listening to our agents, and it represents an important step towards the low-touch, high-tech future of small business insurance.

Anne Russo
Director of Small Business

Leaving our Mark in 2021

From financial wins to exceptional customer service scores, Central's culture of care makes a difference—and the evidence is in our numbers.

Fulfilling the Promise

Everyone at Central plays a pivotal role in delivering on our promise of excellence. Claims is where we bring it all home with heart, humanity and hospitality.

Claims hospitality is the commitment we make to our policyholders to resolve any claims—regardless of complexity—with understanding and integrity. Every claim is an opportunity to deliver on that promise and deepen our relationships with the people who place their trust in us each day.

Frankie Rodriguez
Claim Supervisor

Success in Claims is based on understanding how our policyholders feel about the service they receive from Central. We care about their experience. The voices of Central policyholders and agents fuel our continual pursuit of excellence. By listening and truly understanding their needs, we are able to fulfill our promises better than anyone else.

We're called upon to be there for people during some of the most difficult moments of their lives. Read more about the impact of Central's response in these policyholder and agents stories:

Claims Storytelling Image

Rising from the Ashes

After a routine morning mowing the lawn, Neal Swartz returned his lawnmower to the garage not knowing it would soon spark a devastating house fire. Within an hour, the family found themselves facing a total loss of their home of 40 years. One of the first calls they made on the path to restoring their lives was to Central.

Continue Reading

Claims Storytelling Image

A Cold Day in Texas

When Winter Storm Uri hit Texas last February, the state saw unprecedented losses resulting from damages including frozen pipes and collapsed roofs. While many other insurers waited to initiate a response, Central sprang into action, pulling together a rapid response team focused on helping our policyholders put the pieces back together again.

Continue Reading

Different by Design

Our values are only as good as how we live them out in practice. At Central, we seek to embody a culture of caring that supports our employees and communities.

Financial Report

100.9 Combined Ratio


Since 2018, Central's Combined Ratio has improved three full points to end 2021 at 100.9.

3% Growth


After experiencing a slowdown in direct written premium driven by the pandemic in 2020, growth in 2021 rebounded and is up 3% over the prior year.

$0.25 Billion


Central's Policyholders' Security Fund has grown notably, up over a quarter of a billion dollars or 35% over the past five years.

2021 Financial Report

Central Mutual and All America Insurance Companies ('Central')
December 31, 2021

Summarized Balance Sheet as of 12/31/2021 CENTRAL


Bonds $1,314,977,545
Stocks $368,271,889
Real Estate $35,585,894
Cash & Short-Term Investments $150,798,048
Agents' Balances & Uncollected Premiums $238,938,618
All Other Assets $50,391,042
Total Admitted Assets $2,158,963,037

Liabilities & Policyholders' Security Fund

Losses & Loss Adjusting Expenses $646,333,121
Unearned Premiums $382,696,624
Commissions Payable & Contingent Commissions $28,540,872
Ceded Reinsurance Premiums Payable $4,471,335
Taxes and Other Liabilities $92,507,287
Unassigned Funds (Policyholders' Security Fund) $1,004,413,798
Total Liabilities & Policyholders' Security Fund $2,158,963,037

Select Performance Measures

Total Central Assets $2,158,963,037
Direct Written Premium $790,262,312
Growth Rate in Direct Written Premium 3.0%
Combined Ratio – Central 100.9%
Policyholders' Security Fund $1,004,413,798
Premium to Policyholders' Security Fund Ratio 0.72
A.M. Best Rating A (Excellent)