CAMICO Reports Gains in Policyholders’ Surplus, Written Premium

Business Wire

Details Released in 2023 Operations Report

SAN MATEO, Calif.--(BUSINESS WIRE)--
CAMICO, the nation’s largest CPA-owned and directed program of insurance and risk management for the accounting profession, posted total policyholders’ surplus of more than $47 million and gross written premium of more than $70 million for the year ended December 31, 2023.

CAMICO has continued to strengthen its key financial indicators with policyholders’ surplus up from $45.9 million in 2022 and gross written premium up from $67 million reported in 2022.

Policyholder retention for the company remained at its historical rate of 94%, and CAMICO also posted an increase in total assets in 2023.

The company’s results are detailed in its 2023 Operations Report, which has been posted online at www.camico.com along with 2023 financial statements.

“CAMICO had another strong year in 2023, as we delivered on our promise of providing the best-in-class insurance program for CPAs,” said CAMICO President and CEO Ric Rosario. “CAMICO’s financial strength and high retention rate are achieved through our valuable partnerships and consistent performance in serving as risk partners to our policyholders. We remain focused on assuring the continued security and success of our policyholders, improving CAMICO’s products and services and building on our success in 2024 and beyond.”

About CAMICO

CAMICO delivers insurance, risk management and related services to more than 8,700 CPA firms and 50,000 staff members in all 50 states and the District of Columbia. Founded in 1986, CAMICO is endorsed by state CPA societies and associations in Alaska, Arizona, California, Colorado, Greater Washington D.C., Idaho, Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New York, Oregon, Tennessee, Utah, Virginia, and Washington. CAMICO provides Professional Liability Insurance, Employment Practices Liability Insurance, and other insurance products needed by CPA firms.