The firm paid almost 39-thousand damage claims which totaled 430-million dollars. Of those, just over 430 were major claims of 150-thousand dollars or more. C-E-O Mike Ravn said Church Mutual was hardly alone among insurers in losing money. He said last year had the second-most catastrophic losses in the past 30 years.+
In 2005, when Hurricanes Katrina and Rita hit, was the only year with more damage. But the firm said it surpassed 550-million-dollars in direct premiums for the seventh straight year – and its corporate assets and surplus for policy-holders were both the fourth-highest in Church Mutual’s 115-year history.