Over the past 50 years, our region has experienced a drastic increase in extreme weather events, and last year the trend continued as historic snowfall records were shattered. However, many of the strategic decisions we made leading up to 2015 actually softened the blow to our results. Several years ago, we began factoring the changing climate into our risk management strategy, and in 2012 we significantly enhanced our reinsurance program. This decision substantially minimized our 2015 losses and the impact on our surplus, while contributing to the confirmation of our A- (Excellent) rating by A.M. Best.
Several years ago, we began factoring the changing climate into our risk management strategy, and in 2012 we significantly enhanced our reinsurance program.
We closed the year with strong revenue growth of 7.2 percent, which was driven by competitive pricing, effective partnerships with our independent agents, and our powerful, local brand. Our Personal and Commercial lines delivered overall increases in both policy count and premium. And, Arbella’s market share in Massachusetts Private Passenger Auto—our largest line of business—grew to 10 percent.
The Arbella Service Center also continued its growth. By the end of the year our employees were providing expert service to the customers of 26 of our independent agents and managing more than $50 million in premium.
The year’s record claim volume presented us with an important opportunity to solidify our reputation as one of the best insurance service providers in New England. As the claims poured in, our employees demonstrated remark- able resilience and adaptability. In fact, our agents reported that while many carriers struggled, Arbella’s service levels increased. With a combined ratio of 113.5 percent, our capacity was certainly strained in 2015. Still, for the seventh consecutive year, our employees voted Arbella one of the Boston Business Journal’s Best Places to Work.
Aligned with our strategy, our advertising and marketing programs emphasized the Arbella brand while providing our agents with the resources and support they needed to sell our products. The achievement of key technology milestones enhanced our online presence and made it easier for agents, customers, and employees to conduct Arbella business.
The work of the Arbella Insurance Foundation continued to make a positive impact throughout New England. Recognized as a top corporate giver, the
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A R B E L L A I NSU RANCE G ROU P
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