Commentary on 2020 Results for Quincy Mutual Group
The COVID-19 pandemic reshaped our lives in 2020, providing the impetus to fundamentally change
the way we will live, work and learn in the future. Amid this landscape, The Quincy Mutual Group exhibited the scope
of our resilience. We’re proud of the manner in which we embraced emerging opportunities while staying true to our
core value of conducting ourselves with integrity in all we do. We had a successful year by any measure, and find ourselves
well-positioned for what lies ahead.
Quincy Mutual was profitable across all underwriting operations in 2020, with a Combined Ratio of 92% while achieving
financial milestones in Earned Premium ($400 Million), Assets ($2 Billion), and Policyholders’ Surplus ($1.3 Billion).
While the political and racial divides that face our nation were in the news, we saw a high level of common purpose
and cooperation between and among the policyholders we protect, the agents who represent us, and the professional staff
members that deliver our services. We are proud of our position as a successful insurance carrier, but we are equally
proud of our place in the diverse communities that we serve.
In partnership with our Independent Agents, Quincy Mutual sponsored more than forty lunches for Police and Fire
Departments, Hospitals, Clinics, and other first responders throughout the Pandemic. Our Underwriting and Marketing
staff conducted numerous virtual training sessions for newly appointed and newly hired agents, supporting our agency
partners in the development of their staff.
We expanded our commitment to renewable energy, purchasing seven wind turbines and two solar arrays which are designed
to produce clean energy for the next forty years.
As we look to the future, our focus is on further improving operational efficiencies while maintaining the exceptional
level of service that has become our hallmark.
Our business will continue to evolve and we must continue to prepare for unexpected events. We are committed to
remaining vigorously adaptable and financially stable.
Thomas A. Harris
President & Chief Operating Officer
2020 Financial Results
Click here to view our 2020 Financial Statement.