Tag: annual report

2025 Stonetrust Annual Report

Posted on April 4, 2025 by - Uncategorized

Stonetrust 2025 Annual Report

The Stonetrust 2025 Annual Report provides a comprehensive overview of the company’s performance in 2024. Stonetrust Commercial Insurance Company achieved remarkable financial success in 2024 in a challenging and hyper-competitive workers’ compensation insurance environment. The company reported strong net underwriting and investment gains, resulting in total net income of $13.1 million for the year. Stonetrust’s surplus increased significantly again in 2024, reaching $170.7 million, reflecting its strong financial foundation and stability. These results demonstrate the company’s ability to maintain profitability while navigating market challenges and continuing to provide excellent coverage and dedicated support to policyholders across all operating regions.

This year’s Annual Report features APEX Insurance Consultants of Arkadelphia, Arkansas, as the spotlight agency. APEX operates under the leadership of Stan Elrod, his daughter Melanie Bobo, and his son Michael Elrod. Since partnering with Stonetrust in 2013, APEX has grown to become Stonetrust’s largest agency in Arkansas, exemplifying the type of long-term relationships highlighted in the Stonetrust 2025 Annual Report. Their success showcases how collaborative agency partnerships contribute to sustainable growth, operational efficiency, and enhanced service for policyholders.

Stonetrust’s continued success is built on the loyalty and commitment of its agency partners and employees. The company emphasizes ongoing training, innovative claims solutions, and personalized support, ensuring policyholders receive high-quality coverage and personalized guidance every step of the way. With additional state expansion targeted for late 2025, Stonetrust plans to continue growing its business profitably with current agency partners and agencies in new markets. The 2025 Annual Report highlights these strategic initiatives, demonstrating Stonetrust’s focus on financial strength, operational excellence, and long-term agency relationships. By maintaining consistent growth, strong community engagement, and a respected reputation within the insurance industry, Stonetrust continues to position itself as a trusted and reliable provider of workers’ compensation solutions across all its operating regions.

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2024 Stonetrust Annual Report

Posted on August 19, 2024 by - Uncategorized

2024 Stonetrust Annual Report – 2023 Results & AM Best Upgrade

The 2024 Stonetrust Annual Report provides a comprehensive overview of the company’s performance and key milestones in 2023. Notably, Stonetrust Commercial Insurance Company achieved significant financial success, reporting a 6% growth in total premiums, which amounted to $52.4 million in written premiums and $51.7 million in net earned premiums. The company’s net underwriting gain reached $11.1 million, while a net investment gain of $2.5 million contributed to a total net income of $9.4 million. Stonetrust also saw a nearly $17 million increase in its surplus, which grew to $149.5 million, further strengthening its financial position.

In line with these achievements, Stonetrust’s total assets increased from $230.8 million at the end of 2022 to $253.4 million. These results reflect a consistent trend of underwriting profitability and strong investment returns, maintaining a competitive edge in the workers’ compensation insurance market. Despite the challenges posed by declining claim frequencies, lower claim costs, and fierce competition, Stonetrust remained resilient in 2023, underwriting nearly $12 million in new business premiums.

Stonetrust’s success was further validated by its July 2024 AM Best evaluation, which reaffirmed the company’s Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent). Most notably, AM Best upgraded Stonetrust’s outlook from “Stable” to “Positive,” citing the company’s very strong balance sheet strength, consistent operating performance, robust underwriting earnings, and steady investment income.

The report also highlights the importance of partnerships, showcasing One General Agency (OGA) as a key contributor to Stonetrust’s growth and success in Oklahoma. The company expressed gratitude for the ongoing commitment and support from its agency partners, emphasizing that Stonetrust’s continued success is largely due to these strong collaborations.

Looking ahead to 2024, Stonetrust remains focused on maintaining its growth trajectory and delivering excellent results, even in the face of evolving market conditions and technological advancements. For a full view of the company’s financial results and strategic initiatives, you can download the complete 2024 Stonetrust Annual Report below.

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2023 STONETRUST ANNUAL REPORT

Posted on July 25, 2023 by - Uncategorized

2023 Stonetrust Annual Report

Stonetrust is proud to announce the release of the 2023 Stonetrust Annual Report, highlighting a year of strong financial performance, operational success, and milestone achievements. This report provides a comprehensive overview of the company’s performance, including A.M. Best’s recent affirmation of Stonetrust’s A- rating, demonstrating continued financial stability and commitment to excellence in workers’ compensation insurance. For more information on industry standards and the role of financial ratings in insurance, visit A.M. Best to learn how companies like Stonetrust are evaluated.

The 2023 Stonetrust Annual Report also celebrates Stonetrust’s 30th anniversary, showcasing the growth and development of the company since its founding in 1993. A special agency spotlight highlights the partnerships that have been integral to the company’s success, recognizing the critical role insurance agents play in delivering exceptional service to policyholders. These features underscore Stonetrust’s dedication to maintaining strong relationships, supporting agencies, and fostering a collaborative insurance community.

Readers will find detailed financial information, including updated earnings, underwriting results, and investment performance, demonstrating the company’s consistent ability to navigate a competitive market while maintaining a solid balance sheet. The report reflects Stonetrust’s long-term commitment to providing reliable coverage and personalized service for businesses across multiple industries.

The 2023 Stonetrust Annual Report also reinforces the company’s strategic focus on innovation, safety operations, and policyholder support, showing how Stonetrust continues to enhance the insurance experience for all clients. By reviewing the report, stakeholders can gain insight into Stonetrust’s approach to sustainable growth and its dedication to delivering dependable results year after year.

The 2023 Stonetrust Annual Report is a testament to the company’s unwavering commitment to financial strength, operational excellence, and meaningful partnerships that have shaped three decades of trusted insurance service.

For more information about Stonetrust services, agents, or claims, explore our Agent Portal or Policyholder Portal.

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