EP Award Promo

GuideOne reaches surplus milestone

For the first time in its 65-year history, GuideOne Mutual Insurance Co. has exceeded a policyholder surplus level of $500 million, the West Des Moines-based company said in a release.

GuideOne ended 2011 with $493.8 million in surplus, and in the first quarter of 2012 reached $512.7 million in policyholder surplus. The figure represents the excess of an insurer’s assets above its legal obligations to meet liabilities payable to its policyholders.

GuideOne reported first-quarter net income of $11.7 million. The company is one of the largest U.S. insurers of churches, with approximately 43,000 policyholders.

nyemaster web 080123 300x250