CAMICO Reports Gains in Policyholders' Surplus, Net Income of $2.1 million
SAN MATEO, Calif.--(BUSINESS WIRE)-- CAMICO, the nation's largest CPA-owned and directed program of insurance and risk management for the accounting profession, posted total policyholders' surplus near $48 million and net income of more than $2.1 million for the year ended December 31, 2024.
CAMICO has continued to strengthen its key financial indicators with policyholders' surplus up from approximately $47 million in 2023 and net income up from approximately $1 million reported in 2023. Increases in written premium and total assets were also posted for 2024.
The company's results are detailed in its 2024 Operations Report, which has been posted online at www.camico.com along with its 2024 financial statements.
'CAMICO had a banner year in 2024, regaining its A.M. Best rating of A- (Excellent) and upholding our commitment to providing the best-in-class risk management services and insurance solutions for our policyholders,' said CAMICO President and CEO Mike Ray. 'CAMICO's financial strength is achieved through our valuable partnerships and consistent performance in serving as risk partners to our policyholders. As CAMICO nears its 40-year anniversary in 2026, the future is promising as we look to build on our successes. We are honored to serve and protect CPAs and remain on a positive trajectory for more years to come.'
About CAMICO
CAMICO delivers insurance, risk management and related services to more than 8,700 CPA firms and 50,000 staff members in all 50 states and the District of Columbia. Founded in 1986, CAMICO is endorsed by state CPA societies and associations in Alaska, Arizona, California, Colorado, Greater Washington D.C., Idaho, Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New York, Oregon, Tennessee, Utah, Virginia, and Washington. CAMICO provides Professional Liability Insurance, Employment Practices Liability Insurance, and other insurance products needed by CPA firms.
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