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Central Insurance held its 150th annual policyholder meeting at its headquarters in Van Wert on Wednesday, May 14. At the meeting, the company highlighted its legacy of strength and service, along with a forward-looking strategy designed to build on that legacy and the company’s solid financial position.
“Our purpose has always been clear: to serve our policyholders with financial strength and exceptional hospitality,” said Chairman and CEO Evan Purmort. “Last year, we put that purpose into action, staying true to our commitments and excelling on both fronts.”
Purmort shared a five-year vision grounded in sustainable growth, innovation, and trusted partnerships. “Our vision for the next five years is ambitious. But it’s achievable thanks to the strong relationships and foundation we’ve built—a foundation that will support our commitment to underwriting excellence and exceptional hospitality.”
As part of its long-term strategy, Central completed its transition to a mutual holding company structure—an important step designed to enhance the company’s ability to grow and innovate while protecting policyholder rights.
“This reorganization wasn’t just a structural change; it was a promise to prioritize you, our policyholders, above all else,” Purmort said. “It gives us the flexibility to adapt to the volatility of our industry while protecting your interests and solidifying your stake in our shared success.”
Purmort also highlighted Central’s continued investment in the communities it serves, including $85,000 in scholarships awarded to support local students.
Chief Financial Officer Jessica Seymour expanded on Central’s continued financial strength and stability last year.
“The company achieved a growth rate of approximately nine percent in 2024, driven by commercial lines achieving an all-time high for new business. The company’s business mix ended the year at 60 percent commercial lines and 40 percent personal lines, showing a yearly shift towards more commercial lines. The premium revenue and its growth helped support the payment of nearly $574 million in claims as the company fulfilled its promise through our culture of hospitality.”
Seymour also noted that the combined results of underwriting and investment operations delivered a net income before tax of over $19 million. This net income drove a 1.6 percent return and added more than $30 million of additional strength to Central’s Policyholders’ Security Fund.
In other business, Cindy Hurless, Ed Noonan, Dennis Stripe, and Ryan Maconachy were re-elected to the Board of Directors for a three-year term. Other directors include Evan Purmort, Jocelyn Pfeifer, Tom Kearney, Romel Salam, Richard Staropoli, and David Ward.
To learn more about the innovation, investments, and culture of excellence behind the company’s successful performance in 2024, read Central’s Annual Report.
The Central Mutual Insurance Company was founded in Van Wert in 1876 and has since evolved into Central Insurance, a property and casualty insurance carrier providing premium coverage for hundreds of thousands of individuals and businesses across the country. Central is based in Van Wert and operates regional offices in Boston, Atlanta, and Dallas, with satellite offices in Columbus and Salt Lake City.
