Summit is extremely proud to have entered into its fifteenth year of operations. From the inaugural two businesses that formed Summit in September 1994, Summit has grown to over 50 member companies located throughout the United States. Our growth is based on the recognition of the soundness of the Captive alternative to proactively control traditionally unpredictable insurance costs.
The fiscal year ended 1/31/08 continued to show strong results. Total assets now exceed $77,000,000. Total annual premiums exceeded $32,000,000. Summit’s premium to surplus ratio improved to an impressive $.47 to $1.00.
On behalf of the Executive Committee, I want to thank our members for sharing their best practices and ideas to help us all become better at our own businesses. I congratulate our many members who are controlling their own destiny by improving the safety of their employees and realizing the financial benefit of taking an active role in our Board and Risk Control Meetings.
Sincerely,
Ed Keis, President