| | Business Summary | | MEEMIC
Holdings,
Inc.
is
the
holding
company
for
MEEMIC
Insurance
Company
(MEEMIC),
a
property
and
casualty
insurance
company,
and
MEEMIC
Insurance
Services
Corporation
(MEIA
Agency),
the
exclusive
distributor
of
the
Company's
products.
MEEMIC,
which
began
operations
in
1950,
is
a
Michigan-licensed
company
that
provides
personal
lines
insurance
primarily
to
educational
employees
and
their
immediate
families
in
the
State
of
Michigan.
MEEMIC's
primary
line
of
business
is
private
passenger
automobile
protection,
which
represents
approximately
88%
of
all
business
written.
MEEMIC
also
offers
homeowners,
boat
and
umbrella
policies.
As
of
December
31,
2000,
MEEMIC
had
over
132,000
policies
in
force,
consisting
of
88,784
automobile
policies,
covering
166,535
vehicles;
41,927
homeowner
policies,
covering
41,927
homes;
984
boat
policies,
covering
1,103
boats;
and
492
umbrella
policies.
MEEMIC
markets
its
products
through
over
95
sales
representatives
associated
with
MEIA
Agency. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | MEEMIC
Holdings
is
the
holding
company
for
MEEMIC
Insurance
Company,
a
property
and
casualty
insurance
company,
and
MEEMIC
Insurance
Services
Corporation,
the
exclusive
distributor
of
the
Company's
products.
For
the
six
months
ended
6/30/01,
total
revenues
increased
8%
to
$68.7
million.
Net
income
decreased
47%
to
$4
million.
Results
reflect
auto
and
home
policyholder
growth,
offset
by
a
higher
net
loss
ratio
caused
by
increases
in
homeowner
claims. | | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Victor Adamo, 53
Chairman,
CEO | -- | -- | Lynn Kalinowski, 49
Acting
Pres, Director | $250K | $58K | Christine Schmitt, 44
Treasurer
and CFO | 227K | 58K | William Sabados, 50
Sr.
VP and CIO at MEEMIC | 214K | 58K | | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/m/memh.gif)