2021 Annual Report

A Tradition of Putting PolicyOwners First

For more than 40 years, MagMutual has protected PolicyOwners from healthcare professional liability risk. Every decision we make is focused on the physicians and healthcare organizations we serve.

Our comprehensive insurance coverages go beyond medical professional liability risk to include protection for your business and employees: workers’ compensation, regulatory and cyber insurance, management liability and more.

Customized risk environment and risk reduction reports help physicians understand and mitigate risk and select the coverage that’s right for them. These tools are coupled with a claims strategy that features data-driven insights and clinical and legal assessment aligned to set direction early and position a claim for optimal resolution.

MagMutual companies offer the kind of coverage, support, advice and financial benefits that result in improved outcomes and stronger PolicyOwners. We meet their needs today – while protecting their tomorrow.  


Performance at a Glance 




2021 Combined Financials2

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(DOLLARS IN THOUSANDS)20172018201920202021
Gross Written Premium$301,939$339,121$362,520$425,067$500,863
Net Income before dividends and income tax$61,834$83,865$56,770$79,039$56,876
Total Loss and LAE Reserves$544,725$577,340$638,475$777,945$893,388
Capital & Surplus$831,053$815,376$877,288$951,353$1,120,074
Total Admitted Assets$1,704,903$1,694,078$1,843,148$2,254,195$2,542,155
Policyholder Financial Rewards3$31,973$41,907$40,961$30,668$37,088


1 According to S&P Global Market Intelligence 2021 year-end financial filings
2 Reflects MagMutual Holding Company combined financial statement results.
3 Includes dividends, Owners Circle payouts and UpToDate subscriptions. Dividends and Owners Circle allocations are declared at the discretion of the MagMutual Board of Directors and are subject to eligibility requirements.