Underwriting Comes First
As an insurance enterprise, we respect the fundamentals of insurance. All the business we write must have a realistic expectation of underwriting profit, which we endeavor to demonstrate over time.
Maintain a Disciplined Balance Sheet
Insurance liabilities must always be fully recognized. Our philosophy is that loss and loss adjustment expense reserves must be solid before any other aspect of the business can be solid.
Invest for Total Return
We strive to earn the highest growth in after-tax value over time, and we are indifferent as to whether this growth comes from investment income or capital gains.
Think Like Owners
Our employees are stakeholders in our business, giving them an incentive to consider this year’s profit in the context of our long-term health and performance. Thinking like an owner embraces a long-term strategy.