A Message from Kristen H. Martin – President & CEO
Like any year, 2025 was a year of challenges, changes, and – above all – successes.
By continuing to build strong relationships and our ongoing commitment to working closely with our agents, policyholders, communities, and team members, we have kept our company on its steady course.
As a result, we reached remarkable new heights in 2025. For the first time in our company’s history, we exceeded $2 billion in sales. We also experienced 8.0% growth and a strong 97.8% combined ratio. These results are a direct reflection of the trust, collaboration, and dedication that are central to the work we are privileged to do.
The significant and familiar challenges we and the rest of industry navigated throughout 2025 included cybersecurity threats, social inflation, tort reform, and much more. Yet, even in the face of these pressures, we continued to generate underwriting profits, outperform much of the industry, and honor our commitments to helping individuals and businesses protect what’s important to them.
We also achieved several important milestones during the year, including:
- Opening our new Charlotte, North Carolina, office – expanding our footprint
- Completing our Claims Transformation, delivering modern workflows, increased automation, and improved service
- Successfully rolling out TalkDesk, our AI-powered contact center platform, elevating customer experience and setting the stage for future AI advancements
- Earning reaffirmation of our AM Best “A” (Excellent) rating*
- Once again being named to The Ward Group’s “Top 50” list, recognized as a 2025 Super Regional Property/Casualty Insurer™ by Demotech, Inc., and received Top Insurance Employer honors from Insurance Business America for the 8th consecutive year
As we look ahead to the coming years, we recognize the challenges will continue – as will the opportunities. We remain fully committed to investing in the people, products, technology, and services that will continue to help our company thrive – and we will accomplish new heights together.
Kristen H. Martin
President and Chief Executive Officer
*For the latest rating, visit www.ambest.com.
Helping Children, Adults, and Families
Providing vital programs and services to help children, adults, and families where we live and work is the cornerstone of the good work nonprofits do each day.
Founded in 1987 in advance of our company’s 75th anniversary, the Utica National Group Foundation has awarded millions of dollars in grants since then to help these nonprofit organizations carry on their missions. The following grants were awarded in 2025:
General Community
American Red Cross |
$5,000 |
Boilermaker Road Race |
$25,000 |
Central Association for the Blind & Visually Impaired |
$5,000 |
Clark Mills Country Pantry |
$5,000 |
Clear Path for Veterans, Inc. |
$25,000 |
The Community Foundation of Herkimer & Oneida Counties |
$25,000 |
The Community Foundation of Herkimer & Oneida Counties |
$75,000 |
Community Wellness Partners Foundations |
$5,000 |
Cystic Fibrosis Foundation |
$1,000 |
Freedom Guide Dogs for the Blind, Inc. |
$5,000 |
The Good News Foundations of CNY |
$1,000 |
Great South Bay YMCA |
$500 |
The Hope House |
$25,000 |
Johnson Park Center |
$500 |
Kerr County Flood Relief Fund |
$10,000 |
KEYS Corp |
$1,500 |
LeMoyne |
$50,000 |
LeMoyne |
$50,000 |
Make-A-Wish Foundation |
$15,000 |
Midtown Utica Community Center |
$4,000 |
Munson-Williams-Proctor Arts Institute |
$25,000 |
Notre Dame NJROTC |
$500 |
On Point for College Utica |
$25,000 |
Plattsburgh College |
$5,000 |
Rescue Mission |
$20,000 |
Ride for Missing Children Mohawk Valley, Inc. |
$3,000 |
Rome Rescue Mission |
$20,000 |
Salvation Army |
$5,000 |
Special Olympics |
$500 |
Tunnel to Towers Foundation |
$500 |
Unity Hall Foundation |
$1,200 |
YMCA Mohawk Valley |
$40,000 |
Subtotal |
$479,200 |
|---|
Matching Gifts to Colleges & Secondary Schools
LeMoyne College |
$1,000 |
LeMoyne College |
$1,000 |
St. Bonaventure University |
$750 |
SUNY Oswego College Foundation |
$50 |
University at Albany |
$150 |
Utica University |
$1,000 |
Subtotal |
$3,950 |
|---|
United Way Contributions
Long Island United Way |
$2,500 |
United Way of Buffalo & Erie County |
$750 |
United Way of Central Ohio |
$1,500 |
United Way of Greater Atlanta |
$1,500 |
United Way of Greater Richmond |
$1,500 |
United Way of Massachusetts Bay |
$1,500 |
United Way of Metro Chicago |
$1,500 |
United Way of Metropolitan Dallas |
$1,500 |
United Way of the Mohawk Valley |
$23,191.75 |
United Way of the Mohawk Valley |
$70,000 |
Subtotal |
$105,441.75 |
|---|
Total General Fund: $588,591.75
United for a Cause
Supporting the work of the United Way in the communities where our company has offices is a long-standing tradition spanning decades. Through the generosity of our team members donating funds and their time during our annual campaign and beyond, we help support the United Way and those in need. Donations from team members stay local to the United Way in their community.
Fun at the Run
The Utica National Kids Run and Boilermaker 5K sponsored by Utica National are among the exciting and rewarding events that children and adults alike can enjoy every July in Utica, NY, as a part of the annual Boilermaker Road Race weekend of activities.
Thanks to a team of dedicated volunteers comprised of our team members and their families, the Kids Run introduces hundreds of youngsters each year to the sport of running – with “fun” being the watchword of the day. At the 5K, thousands of runners take to the streets of the city for a 3.1-mile run, cheered on by thousands of enthusiastic spectators.
111 Years and Counting
The Utica National Companies are headquartered in New Hartford, New York, and began in 1914 with the founding of our principal company, the Utica Mutual Insurance Company, as a Workers’ Compensation carrier. In 2025, the company marked its 111th year of helping people and businesses feel secure, appreciated, and respected thanks to our team members’ dedication to our agents, policyholders, community, and each other.
Our company offers a wide range of Commercial Lines and Personal Lines insurance products, and is a nationally recognized insurer for various specialized markets – including coverages for small businesses, educational institutions, volunteer fire departments, and many others. Our Agents’ and Brokers’ Errors & Omissions (E&O) program, providing professional liability coverage for insurance agents and brokers, is one of the largest and longest-running E&O programs in the nation.
Our team is made up of more than 1,300 employees countrywide and we sell our products through more than 2,500 independent insurance agents around the country. The Utica Mutual Insurance Company and its affiliates are rated* “A” (Excellent) with a stable outlook by the AM Best Company, one of the premier insurance rating organizations in the United States.
*For the latest rating, visit www.ambest.com.
Recognizing a Team Effort
The teamwork that drives our company’s success is reflected in the following recognitions that we proudly received in 2025:
8 Straight – It's Great
Utica Mutual Insurance Company, as the principal member company of the Utica National Insurance Group, was named a Top Insurance Employer by Insurance Business America magazine for the 8th consecutive year.
From the hundreds of organizations that participated nationwide, Utica Mutual was 1 of only 36 to hit the high standard needed to secure a spot on the list – and our company was 1 of just 7 companies to place in the “1,000+ employees” category.
The recognition is based on survey responses by an anonymous group of Utica Mutual Insurance Company and Founders Insurance Company employees who completed a form evaluating their workplace on several metrics, including benefits, compensation, culture, employee development, and more.
Working Toward an “A+”
Our team’s ambitions continued to be set on earning a Financial Strength Rating (FSR) of “A+” from the AM Best Company, one of the premier insurance rating organizations in the United States.
In 2025, AM Best reaffirmed our “A” rating*. The outlook for both our Financial Strength Rating and Issuer Credit Rating (“a+”) also remained unchanged from the prior year with a “stable” outlook. We also received positive feedback that AM Best recognizes the progress we have made in improving our operating performance. This is a vital step toward our ultimate goal of achieving an “A+” rating. Our path forward remains clear: by consistently delivering underwriting profitability through all market cycles, we are positioning ourselves for future success – including the upgrade to an “A+” that we are all working so hard to achieve.
*For the latest rating, visit www.ambest.com.
4 in a Row
For the 4th straight year, the member companies of the Utica National Insurance Group were named to the list of the 50 top-performing property-casualty insurance companies in the United States by The Ward Group, a consulting firm specializing in the insurance industry.
The Ward Group analyzed the financial performance of nearly 3,000 property-casualty insurance companies in the United States and identified the top performers for their outstanding financial results in the areas of safety, consistency, and performance over a five-year period (2020-2024). The Ward Group looks for companies that pass stringent financial stability requirements and measures their ability to grow while maintaining strong capital positions and underwriting results.
Super News for 19 Years
For the 19th consecutive year, Utica Mutual Insurance Company was named a Super Regional Property/Casualty Insurer™ according to an assessment by Demotech, Inc. Our company placed 58th among only 151 Property/Casualty insurers nationwide named to the list. The ranking is determined by Direct Premium Written as of December 31, 2024.
Developing Tomorrow’s Insurance Professionals Today
For the 6th year, our company was named to the Rising Insurance Star Executives (RISE) Elite 50 Internships List, which highlights the 50 best internship programs in the insurance industry across the country. Nominated companies are scored and then reviewed by a panel of RISE Advisory Board members based on a variety of criteria, including full-time employment opportunity, diversity, inclusion, culture, training and mentoring, executive-level exposure, and others.
2025 By the Numbers
Financial Highlights
Assets
Direct Written Premium
Policyholders' Security Fund
Dividends to Policyholders
Liabilities
Ratio of Premium to Surplus