2021 Annual Report: Strength and Fluidity

May 10, 2022

Persistent Growth and a Steady Course

"A river cuts through rock, not because of its power, but because of its persistence." This philosophy guided Companion Life throughout 2021, a year that marked our 50th anniversary. Like a river weaving through the landscape, we remain sure and steady—maintaining a solid foundation while remaining open to new ideas and fresh tributaries of innovation.

The 2021 Annual Report reflects on our rich half-century history and details our strategic focus on core competencies to expand our footprint for the future.

A Message from Our President

In the 2021 President’s Letter, John Wilbur reflects on the strength and fluidity required to navigate a changing industry. Throughout our history, we have taken pride in our ability to adapt. In 2021, we sharpened our focus on serving our Agents, Administrators, and Insureds by investing in cutting-edge technologies and advanced data analytics. Even as we modernize our operations, our priority remains providing personalized service with a human touch.

Milestones and Industry Standing

Despite the unique challenges of the era, Companion Life maintained its reputation for excellence and reliability through several key achievements:

20 Years of Superior Ratings: For the 20th consecutive year, we earned an AM Best Rating of A+ (Superior), an independent validation of our financial strength.

Industry Leadership: We continue our commitment as a Diamond Member of the Self-Insurance Institute of America (SIIA), demonstrating our leadership in the Accident and Health marketplace.

Strategic Investment: We added bright new talent and fresh perspectives to our team, ensuring we are prepared to serve our partners with the highest level of expertise.

Our 2021 Product Portfolio

Our report outlines a robust suite of products designed to offer flexibility and security for groups of all sizes, provided on both employer-paid and voluntary bases.

Ancillary Benefits

• Dental & Vision: Featuring our Dental by Design® and Vision by Design® portfolios.
• Life & Disability: Flexible Group Term Life, AD&D, and Disability Income Insurance (STD/LTD) including employee assistance programs.
• Specialty Coverage: Voluntary Critical Illness and Hospital Indemnity insurance.

Accident & Health Products

• Medical Stop Loss: Specific and Aggregate coverage for self-insured companies.
• Specialty Health: Limited Benefit Health plans and Short Term Medical options.
• Supplemental Expense: Group supplemental coverage to complement major medical plans.

Financial Performance

Our 2021 financial statements (Statutory Basis) demonstrate continued stability and growth:

Total Admitted Assets: $689,734,000

Total Stockholder’s Equity: $391,400,000

Net Income: $28,780,000

 

Download the Full 2021 Annual Report (PDF)

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