Commentary on 2020 Results for Quincy Mutual Group
The COVID-19 pandemic reshaped our lives in 2020, providing the impetus to fundamentally change the way we will live, work and learn in the future. Amid this landscape, The Quincy Mutual Group exhibited the scope of our resilience. We’re proud of the manner in which we embraced emerging opportunities while staying true to our core value of conducting ourselves with integrity in all we do. We had a successful year by any measure, and find ourselves well positioned for what lies ahead.
Quincy Mutual was profitable across all underwriting operations in 2020, with a Combined Ratio of 92% while achieving financial milestones in Earned Premium ($400 Million), Assets ($2 Billion), and Policyholders’ Surplus ($1.3 Billion).
While the political and racial divides that face our nation were in the news, we saw a high level of common purpose and cooperation between and among the policyholders we protect, the agents who represent us, and the professional staff members that deliver our services. We are proud of our position as a successful insurance carrier, but we are equally proud of our place in the diverse communities that we serve.
In partnership with our Independent Agents, Quincy Mutual sponsored more than forty lunches for Police and Fire Departments, Hospitals, Clinics, and other first responders throughout the Pandemic. Our Underwriting and Marketing staff conducted numerous virtual training sessions for newly appointed and newly hired agents, supporting our agency partners in the development of their staff.
We expanded our commitment to renewable energy, purchasing seven wind turbines and two solar arrays which are designed to produce clean energy for the next forty years.
As we look to the future, our focus is on further improving operational efficiencies while maintaining the exceptional level of service that has become our hallmark.
Our business will continue to evolve and we must continue to prepare for unexpected events. We are committed to remaining vigorously adaptable and financially stable.
Thomas A. Harris
President & Chief Operating Officer
2020 Financial Results
Click here to view our 2020 Financial Statement.