2021 Annual Report

To our policyholders:

Since our beginnings, Rockingham Insurance has grown from several property owners who met in a small church in the heart of the Shenandoah Valley into a national multi-segment Property and Casualty Insurance company. Today, over 150 years later, we continue to evolve and transition our products, offering a full suite of modern insurance policies.

Our agents and employees focus on providing reliable coverage for your home and auto, business, or farm. Rockingham Insurance is here to help. Service means honoring the commitments we make to our customers. From an initial quote to closing out a claim, our people respond with genuine care for the customers who have chosen to place their trust in us.

We believe in giving back to the communities we serve. Our culture of giving back is evident through our associates’ engagement and charitable giving programs.

Rockingham Insurance holds an “A” rating with A.M. Best Company, a highly regarded assessor of the financial and management stability of insurance companies.

I, along with the Board of Directors, agents, management, and staff, thank you for your continued trust and the opportunity to serve your insurance needs.

Robert L. Lyon, President & Chief Executive Officer

Wherever you are, we're here.®

EXECUTIVE OFFICERS

Robert Lyon - President and CEO
Lawrence Fortin - Information Technology & Security
William Bayer - Customer Experience, Marketing and Compliance
Karl Hancock - Claims
Steven Kemp - Farm
Chad Covelli - Personal and Commercial Lines, Analytics
John Schwertfuehrer - Finance
Marcy Engle - Human Resources
Deborah Van Horn - Specialty

BOARD OF DIRECTORS

Gene Berry - Insurance
Robert Lyon - Insurance
Michelle Cox - Publishing
Timothy O’Shea - Insurance
Douglas Driver - Construction
Todd Putney - Healthcare
Roger Higgins, III - Insurance
Christopher Runion - Advertising
Anne Keeler - Education
Pamela Turner - Financial Services

BY THE NUMBERS

105

Combined Ratio*

64,475+

Policies serviced

12,200+

New policies added

75+

Charitable organizations supported

*Combined ratio is a standard measurement of an insurance company’s underwriting profitability. A combined ratio of less than 100 generally indicates an underwriting profit.

BALANCE SHEET

CONSOLIDATED BALANCE SHEET (IN 000’S) | AS OF DECEMBER 31, 2021 AND 2020

Assets	2021	2020
Bonds	$ 128,133	$ 112,762
Preferred Stocks	500	-
Common Stocks	28,158	28,771
Cash & Short Term Investments	29,587	19,583
Real Estate	1,055	1,052
Uncollected Premiums	28,105	26,835
Other Assets	5,492	4,258
TOTAL ASSETS	$221,030	$193,261

LIABILITIES & SURPLUS	2021	2020
Losses & Loss Adjustment Expenses	$ 58,591	$ 41,816
Unearned Premiums	70,511	59,261
Other Liabilities	15,867	14,808
Total Liabilities	144,969	115,885
Surplus	76,061	77,376
TOTAL LIABILITIES & SURPLUS	$ 221,030	$ 193,261

Buffamante Whipple Buttafaro, P.C. conducts an annual independent audit of the companies’ results. Rockingham Mutual Group, Inc. is the ultimate parent company of Rockingham Group, Inc., Rockingham Insurance Company, Rockingham Casualty Company, Rockingham Mutual Service Agency, Inc, and Rockingham Specialty, Inc.

2020 & 2021 BEST PLACES TO WORK IN INSURANCE

Recognizes employers for their outstanding performance in establishing workplaces where employees can thrive, enjoy their work, and help their companies grow.

Rockingham Insurance focuses on a best-in-class customer experience for policyholders and agents. This has proven successful in improved customer satisfaction and employee engagement. The employees are committed to the company’s growth and are paramount to future success.