A Lasting Legacy

A message from Craig Johnson Chairman of the Board, President & CEO

2019 began with great anticipation of our 60th anniversary. Yearlong celebrations gave us pause to reflect on our founders, early board members and former teammates who created our foundation and culture of success. From our humble beginnings in 1959 to today, our business is based on a guiding purpose of being true to our word: “doing what we say we’ll do.”
FCCI’s success is built upon our partnerships with our trusted agents and our ability to maintain exceptional financial strength through disciplined growth, adherence to sound underwriting principles, providing unparalleled claim service and expertise, and stewardship of our resources. We continue to be committed to building and strengthening the FCCI brand, especially in markets that are new to FCCI. And, as I report to you every year, without exception, I continue to be inspired by the charitable spirit of our teammates. This past year, we recorded the highest volunteer hours in our 60-year history, volunteering more than 4,424 hours to serve and improve the lives of the less fortunate. Charitable giving is an important part of who we are.
Craig Johnson, Chairman of the Board, President & CEO
I am pleased to report that we finished the year strong with a total of $843.9 million in direct written premium, a new record for FCCI. We earned a profit of $80.6 million and generated a combined ratio of 102.4%, despite the complexity of severity in our workers’ compensation and commercial auto lines of business. These solid results reflect our continued efforts to strengthen our underwriting on construction defect coverage, especially in Florida.

We also faced a mandatory Florida workers’ compensation rate decrease as well as absorbed the impact of social inflation across our book of business.
One area particularly worth highlighting is our investment portfolio, which has reached $1.98 billion and continues to be invested in a conservative and diversified manner, generating sizable investment income and allowing more affordable coverage to our precious policyholders.
FCCI’s new technology being implemented is certain to help create efficiencies and a greater ease-of-doing-business for our customers. We are beginning to see those investments pay off through the leveraging of data and analytics capabilities and strategies to address both traditional and emerging risk.
We will always remain a relationship company, valuing our partners and driving mutual success.
Finally, we conducted a business owner initiative in which we asked each of our 842 teammates to suggest ways in which they can positively influence our productivity and efficiency.
This initiative has the potential financial impact on our bottom line in the many millions of dollars while placing more empowerment in our teammates’ hands.
In closing, I could not be more proud of our 60-year history, our teammates, our board, our agency partners and policyholders. Thank you for being part of our 60-year journey and helping to create a lasting legacy!
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2019 Corporate Highlights