CAMICO, the nation’s largest CPA-directed program of insurance and risk management for the accounting profession, posted total policyholders’ surplus of $40.2 million and net income of $1.3 million for the year ended December 31, 2016.
CAMICO continued to maintain key financial ratios at historically high levels, and the policyholder retention rate for 2016 was 93.3 percent, consistent with an average policyholder retention rate of more than 93 percent for the past 23 years.
The company’s results are detailed in its 2016 Operations Report
, which has been posted online at www.camico.com along with 2016 financial statements.
“CAMICO’s high policyholder retention rate indicates that CPAs respond to an insurance and risk management program that is aligned with their interests and builds long-term value for them,” said Robert P. Evans, CPA, CISA, CAMICO chairman of the board. “It also reflects on how well CAMICO executes our mission of helping CPAs solve the practice and risk management problems they face in their professional lives.”