Financial Report


Central’s Policyholders’ Security Fund is an important measure of our ability to remain a consistent provider of insurance. As our Policyholders’ Security Fund increases over time, we continue to strengthen the financial foundation on which we can grow with our partners and deliver on the promise to our current customers as we have since 1876. Central’s Policyholders’ Security Fund has grown over 20% since 2016 and stood at an all-time high of $896 million at the conclusion of 2019. This level was achieved despite volatility in the industry and in capital markets during 2019, and reflects a very secure premium-to-surplus ratio of 0.80 to 1.00.

Policyholder Security Fund


The consistency with which we have grown our Direct Written Premium represents the amount of promises we have made to our policyholders and our agent partners over time. Our growth in premium over the past four years has been strong and consistent, averaging 5.3% per year which has outpaced the growth of the industry.

Direct Written Premium


The lower the Combined Ratio is below 100, the more successful a company has been in managing its operations profitably. While Central has been a strong performer on Combined Ratio historically, 2019 continued to be impacted by adverse weather events from 2017 and 2018, and also from pressure in the commercial auto product line.

Combined Ratio

2019 Financial Report

Central Mutual and All America Insurance Companies ('Central')
December 31, 2019

Summarized Balance Sheet as of 12/31/19

Bonds $1,097,228,266
Stocks 373,086,259
Real Estate 38,669,561
Cash & Short-Term Investments 105,364,017
Agents' Balances & Uncollected Premiums 232,449,781
All Other Assets 83,486,406
Total Admitted Assets $1,930,284,290
Losses & Loss Adjusting Expenses $536,948,738
Unearned Premiums 381,501,835
Commissions Payable & Contingent Commissions 20,136,129
Ceded Reinsurance Premiums Payable 6,603,035
Taxes and Other Liabilities 88,246,230
Unassigned Funds (Policyholders' Security Fund) 896,848,323
Total Liabilities & Policyholders' Security Fund $1,930,284,290
Total Central Assets $1,930,284,290
Direct Written Premium $779,368,324
Growth Rate in Direct Written Premium 1.2%
Combined Ratio – Central Companies 103.0%
Policyholders' Security Fund $896,848,323
Premium to Policyholders' Security Fund Ratio 0.80
A.M. Best Rating A (Excellent)


This information is not intended to supercede, or be as comprehensive as, the statutory annual statement filed for each company with the appropriate state insurance departments. The statutory financial statements of Central Mutual Insurance Company and Consolidated Subsidiaries have been audited by Plante & Moran, PLLC. Complete copies of the statutory financial statements have been filed with the appropriate state insurance departments and are also on file at the Home Office of the Central Insurance Companies in Van Wert, Ohio.