Maitland, FL – FFVA Mutual, a Florida-based regional insurance carrier specializing in workers’ compensation, released its 2016 annual report today.
“We are encouraged by another year of strong operating results and consistent underwriting. For the year ending 2015, FFVA Mutual reported $115.9 million in direct written premium, a 90% combined ratio (excluding dividends), and a $143.5 million policyholder surplus” said President and CEO Craig Menzl. “FFVA Mutual also experienced revitalization through a corporate rebrand and welcomed new agency partners and policyholders in our two new states, Indiana and Virginia.”
Additional highlights from the report include the following:
- Expanded agency representation and increased new business writings in key states.
- Strengthened service team initiatives with agencies and policyholders.
- Maintained strong policyholder retention.
- Processed 6,236 claims with a reported claim closure rate of 86% for the year.
- Reviewed 64,495 medical bills that saved over $44 million.
- Litigated less than 4% of filed claims as a result of proactive claims management.
In addition, the company conducted 1,872 job-site visits and provided safety training to 1,929 employees, presented bimonthly webinars on trending safety topics, and offered OSHA 10-hour and 30-hour compliance training at no additional cost to its policyholders.
Looking ahead, FFVA Mutual’s strategic objectives are to optimize its market position, visibility and financial performance by enhancing customer experiences through improved technology, innovative products and services and staff development.
An electronic copy of FFVA Mutual’s 2016 Annual Report is available online at https://www.ffvamutual.com/annual-report/.
Source: FFVA Mutual