Company: Capital Insurance Group, Monterey, CA
Company Description: Capital Insurance Group® (CIG) is a leading regional property and casualty insurer serving the Western United States since 1898. CIG offers trusted Agriculture, Commercial, and Personal insurance solutions tailored to meet the needs of policyholders, sold exclusively through independent agents. For more information, please visit CIGInsurance.com.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Insurance - Large
 Nomination Title: Capital Insurance Group
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2023, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 182 words used.
Capital Insurance Group® (CIG®) is a leading property and casualty insurer in the Western U.S. The company has evolved from a small collective of farmers who formed Ventura Country Mutual Fire Insurance Company in 1898. In 1966, they became California Mutual Insurance Company and in 1981, moved their headquarters to Monterey and assumed the name California Insurance Group. The next few decades saw several mergers and name changes, and the opening of a Claims Service Center in Bakersfield. In the1990s, CIG expanded into Nevada, Oregon, Washington, and Arizona and became Capital Insurance Group in 2003. The company later opened a Customer Service Department in Reno, NV and a Roseville office to better serve its customers.
[REDACTED FOR PUBLICATION] Today, CIG has close to 450 employees working out of five offices across four states.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2023 that you wish to bring to the judges' attention (up to 250 words):
Total 250 words used.
Over the past two years, CIG has pursued initiatives to set the foundation for achieving its long-term goals. This included major technology upgrades and system modernization; deploying training to help property owners reduce the risk of injury or death on their property; creating a team to address the rising litigation concerns facing the industry; the introduction of new classes of business and products that enable independent agents to write more business; rate changes to ensure profitability; and expanding the network of independent agents authorized to sell insurance through CIG.
The company’s efforts have yielded tangible results, with existing customers renewing and new customers enrolling in record numbers. CIG’s top-line premium production (revenue) surpassed the $500 million mark in 2023, and $637 million in 2024, the greatest in CIG’s history. In 2024, CIG’s commercial lines team delivered $48 million in new business and 85% premium retention. Agricultural lines have 90% premium retention. In the personal lines space, CIG has issued a record number of new policies for the third consecutive year as other insurers pull out or non-renew, and the company has achieved 90% policy retention.
The company’s policyholders’ surplus exceeded $400 million in 2023 and $447 million in 2024, another record for the company. Policyholder surplus is the difference between an insurance company’s assets minus its liabilities, providing an indicator of financial health and CIG’s ability to pay claims. [REDACTED FOR PUBLICATION]
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 212 words used.
CIG’s successes are unique because they have continued to grow their customer count, while competitors have scaled back on writing new business. They have demonstrated resilience in the face of significant regulatory and industry challenges, an increasingly difficult litigious environment, severe weather events in both 2023 and 2024, and major (catastrophic) insurance claims across the areas where CIG provides coverage. Many insurance companies are pulling out of the state of California due to these challenges or are choosing not to renew policies.
One aspect that distinguishes CIG from other insurance companies is that they consistently embody their core values adopted in 2023: Do what’s right; put people at the center; focus on the customer; embrace collaboration and win as a team. Because of these first four core values, they realize their fifth value: achieving results.
Despite head winds, CIG successfully delivered strategic initiatives that introduced improved capabilities that will enable future success, and this fall, AM Best reaffirmed CIG’s Financial Strength Rating (FSR) as A (Excellent) for the fourth consecutive year and upgraded their Issuer Credit Rating (ICR) to a+. CIG has also been recognized as a Great Place to Work® for four consecutive years, remains a trusted partner for close to 400 independent agencies, and consistently delivers exceptional service to policyholders.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 149 words used.
Customer Reviews: With a vision to create “A safer world where dreams soar” CIG’s customer testimonials show how they are impacting individuals, families, and business owners in a positive way. Insurance provides an important safety net and financial security for the unexpected.
AM Best Press Release: This third-party rating demonstrates confidence in CIG’s long-term financial viability, and its ability to pay out claims to policyholders.
Annual Report, Website, YouTube Video, Core Values: These provide a broader understanding of CIG’s financial performance, as well the company’s commitment to protect and restore communities through both the insurance products they provide, and a commitment to volunteerism and community partnerships. CIG relies on a network of independent agents to sell their products. The strong partnership with agents is key to the company’s success, and this partnership is highlighted in CIG’s 2023 Annual Report, as well as through video updates and newsletters to agents.
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