2023 Annual Report

To our policyholders:

For over 150 years, Rockingham Insurance has protected the things that matter. We have provided reliable coverage for your home, auto, and farms by establishing a reputation for delivering on our promises and building long-lasting relationships.

We are optimistic about the future and committed to our company's continued improvement and success. Reflecting on 2023, much like 2022, the insurance industry has been impacted by increased inflation and weather volatility which leads to higher claims expenses. To meet our steadfast commitment to ensuring long-term stability and financial security for our policyholders and communities, we continuously monitor and adapt our price, product offerings, and agency distribution channels.

Rockingham Insurance remains committed to operating with steadfast resilience and is dedicated to enhancing operational efficiency and strengthening our personal lines offerings.

We’re here to help by providing caring and committed service to our policyholders, employees, and neighbors daily. Service means honoring our promises from the initial quote to closing a claim. Our agents become trusted advisors and friends, delivering reliable coverage and peace of mind.

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

Robert L. Lyon, President & Chief Executive Officer

Wherever you are, we're here.®

EXECUTIVE OFFICERS

Robert Lyon - President and CEO
William Bayer - Customer Experience, Marketing and Sales
Chad Covelli - Personal Lines and Analytics
Marcy Engle - Human Resources
Karl Hancock - Claims
Kristi Harold - Information Technology & Security
John Schwertfuehrer - Finance
Deborah Van Horn - Specialty
Kevin Vance - Risk Management

BOARD OF DIRECTORS

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

BY THE NUMBERS

126.3%

Combined Ratio*

114,400+

Policies serviced

18,600+

New policies added

70+

Charitable organizations supported

75.3%

Net Promoter Score**

*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.
** Net Promoter Score measures the loyalty of customers and their willingness to refer others to a company. 2022 Insurance Industry average NPS was 42% (https://www.clearlyrated.com/solutions/2022-insurance-nps-benchmarks/)

BALANCE SHEET

CONSOLIDATED BALANCE SHEET (IN 000’S) | AS OF DECEMBER 31, 2023 AND 2022

Assets	2023	2022
Bonds	$ 140,614	$ 136,733
Preferred Stocks	-	500
Common Stocks	19,942	22,933
Cash & Short Term Investments	6,173	26,516
Real Estate	1,341	1,418
Uncollected Premiums	28,186	31,404
Surplus Note Receivable	-	15,000
Other Assets	11,232	2,949
TOTAL ASSETS	$207,488	$243,453

LIABILITIES & SURPLUS	2023	2022
Losses & Loss Adjustment Expenses	$ 82,636	$79,920
Unearned Premiums	63,188	79,858
Other Liabilities	6,949	14,247
Total Liabilities	152,773	174,025
Surplus Note	15,000	15,000
Surplus	39,715	54,428
TOTAL LIABILITIES & SURPLUS	$207,488	$243,453

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.