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Download
the 2009 Condensed Annual Statement in PDF Format.
Download
the 2008 Condensed Annual Statement in PDF Format.
The strength of any financial institution, including insurance
companies, is primarily measured by their assets and growth.
Baltimore Equitable Insurance, one of the oldest corporations
in the state, financial or otherwise, has an outstanding record
of growth.
However, when you have been in business for over 200 years,
dating back to an era when fires were fought by bucket brigades,
your financial status and growth over three centuries is difficult
to relate to the current times.
So, let's look at the Company's performance in recent years
during which most of the insurance industry has experienced
very difficult and unprofitable times.
| |
Value of Assets |
Perpetual Insurance Deposits
Being Held |
| 2009 |
$124,074,000 |
$47,250,000 |
| 2008 |
$107,431,000 |
$47,742,000 |
| 2007 |
$141,551,000 |
$46,721,000 |
| 2006 |
$140,380,000 |
$44,706,000 |
| 2005 |
$127,258,000 |
$42,066,000 |
| 2004 |
$121,462,000 |
$38,825,000 |
| 2003 |
$110,633,000 |
$34,683,000 |
| 2002 |
$93,947,000 |
$31,193,000 |
| 2001 |
$100,767,000 |
$27,666,000 |
| 2000 |
$98,821,000 |
$26,216,000 |
| 1999 |
$95,667,000 |
$24,882,000 |
| 1998 |
$96,960,000 |
$24,228,000 |
| 1997 |
$86,929,000 |
$23,025,000 |
| 1995 |
$67,123,000 |
$20,291,000 |
| 1993 |
$55,224,000 |
$16,915,000 |
| 1991 |
$48,343,000 |
$14,950,000 |
| 1989 |
$42,679,000 |
$12,900,000 |
| 1987 |
$35,530,000 |
$10,159,000 |
| 1985 |
$29,090,000 |
$ 7,750,000 |
| 1983 |
$23,600,000 |
$ 6,168,000 |
In the over 200 years that we have been doing business, not
one single policyholder has failed to receive his money back.
Baltimore Equitable has taken every precaution to protect the
money it is holding for our clients.
- We have purchased reinsurance through one
of the largest reinsurance brokerage companies in the world to protect
us not only from large individual losses which may occur
in any one year, but also for protection against major unforeseen
catastrophes.
- All insurance companies in the state are regulated and
evaluated by The Maryland Insurance Administration - and
we are no exception.
- Each year we hire our own auditors to evaluate our financial
condition and report to the Board of Directors its findings.
- A Board of Directors, elected by the policyholders, oversees
the management, insuring that the company is run in a responsible
manner.
- Conservative investment strategies serve to protect our
policyholder reserve fund.
What does the company do with policyholders' payments?
Perpetual insurance payments are fully refundable to our policyholders
and must, therefore, be prudently managed while held by the
Company.
To accomplish this, Baltimore Equitable maintains a balanced
investment portfolio of high quality stocks and bonds. A diversified
range of stocks provides growth of principal and income. Bonds
provide a high yield while adding balance and stability. Additionally,
the Bond portfolio utilizes a laddered maturity structure, providing
liquidity and a measure of safety for the refundable deposits
on hand.
The Company's Board of Directors has entrusted the portfolio
management to an Investment Committee and Investment Advisors,
who report directly to them on a quarterly basis.
So, as you can see, the Company has a record of financial stability
second to none in the insurance industry. We have refunded in
full the payments when requested of every single policyholder
since we were founded in 1794. We have survived the great Baltimore
Fire of 1904, the financial depression of the 1928-1938 period
and innumerable other occurrences and have continued to meet
all our policyholders expectations.
For more information regarding our credibility and long standing
reputation of financial security you may call The Maryland Insurance
Administration at 410-333-6300.
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