- Direct Written Premium of $188.7 Million, 6.7% Year-over-Year Growth
- FY Net Income of $40.2 Million
- Record FY 2021 Statutory Surplus of $345 Million, up 12.7% versus FY 2020
- 26th Consecutive Dividend
ATLANTA, GA, March 24, 2022 — Builders, a Georgia domiciled commercial insurance leader rated “A” (Excellent) by A.M. Best, today announced preliminary financial results for fiscal year ended December 31, 2021. The preliminary financial report indicates strong earnings and net income growth, net written premiums growth, and record surplus during 2021.
As part of the announcement, Builders declared its 26th consecutive annual dividend payment to qualifying Georgia policyholders. This year’s dividend of $1 million based on 2021 performance brings total dividends paid to more than $54 million.
Celebrating its 30-year anniversary in 2022, Builders has grown to exceed $1 billion in total assets with more than 150 employees and 350 agency locations across the nation.
“We had an outstanding 2021 and one of the best years in Builders’ history. Today’s results and dividend announcement reflect our unwavering commitment to serve our policyholders and deliver expert insurance solutions through our agents. Our record surplus and excellent loss ratio are testaments to the growth trajectory of our Company over the long term,” said Todd Campbell, Builders’ CEO. “I am exceedingly appreciative of the diligence and commitment of the Builders team through another challenging year. As we celebrate our 30-year anniversary, I can confidently say that Builders is stronger than ever before, and our remarkable balance sheet will empower dramatic investments and bold transformations in the years ahead.”
Financial Highlights
- FY Net Revenues of $196.3 Million
- Record FY 2021 Statutory Surplus of $345 Million, up 12.7% versus FY 2020
- Consolidated Combined Ratio on a statutory basis including policyholder dividends of 95.1%
- The loss ratio improved to 62.4% in 2021 from 77.3% in 2020
- FY 2021 Members’ Equity of $377 Million, up 5.8% versus FY 2020
The new dividend was issued in March 2022 to Georgia policyholders who have maintained continuous coverage with Builders since January 1, 2020, and demonstrate an acceptable loss ratio. In addition, the policyholder must have maintained membership in a sponsoring association and be without any unresolved receivable balances.
Nearly 18,000 commercial insurance policyholders across a wide variety of industries rely on Builders to protect their most important assets – their people, property, and future profitability.
About Builders
Atlanta-based Builders delivers workers’ compensation, general liability, property, umbrella, and construction risk insurance through a strong independent agent network. Celebrating its 30-year anniversary in 2022 and a legacy of commercial insurance industry excellence, Builders has grown to exceed $1 billion in total assets with more than 150 employees and 350 agency locations across the nation. Builders and its member companies are rated “A” (Excellent) IX by A.M. Best. Meet Builders — #30YearsStrong: www.bldrs.com.
