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2024

Annual Report

SECURA Insurance logo, traditional

A message from Garth Wicinsky

President & CEO, SECURA Insurance

2024 was a year of transition for SECURA. We began an exit of nearly 25% of our book of business, as we made the difficult decision to exit Personal Lines business. This decision had a major impact on both our associates who spent years and careers working on Personal Lines and on our agent partners. At SECURA, we build relationships based on trust, and our associates remained committed to us and to serving our agents during this change — trusting that SECURA is looking out for them as we navigate toward the future. As a result of how we treat people, SECURA was again named a Great Place to Work in 2024.

Financial results

Christine Cousineau portrait

"Thanks to actions we took in previous years, we saw positive results in 2024, which reinforces SECURA's financially strong position to continue to fulfill our promises to policyholders and agents." – Christine Cousineau, Senior Vice President and Chief Financial Officer

Combined ratio = 101%

Combined ratio pie chart of 107.4%
  • 54.9%
    Loss Ratio
  • 35.5%
    Underwriting Expense Ratio
  • 9.4%
    Loss Adjustment Expense Ratio
  • 1.2%
    Dividend Ratio

5-year combined ratio

5-year combined ratio graph compared to prior years
  • SECURA
  • Industry (Source: Conning)

Direct written premium (in millions)

Direct written premium bar graph

Direct written premium decreased in 2024 as SECURA exited Personal Lines and other high-risk segments. Our direct written premium was $999 million with $134 million from new business produced in partnership with our agents.

Policyholders' surplus (in millions)

Policyholders' surplus bar graph

Growth in operating income increased policyholders' surplus to $708 million, contributing to SECURA's AM Best financial strength rating of A (Excellent).

Total assets (in millions)

Total assets bar graph

In 2024, SECURA surpassed $2 billion in assets, which are primarily comprised of a high-quality, diversified investment portfolio ensuring strong liquidity.

Giving back to the communities we serve

Supporting our communities is a core company value. We give back in many ways, including volunteering and donating to a variety of nonprofit organizations.

SECURA associates are encouraged to give back to the organizations close to their hearts. Efforts are multiplied through the company's Dollars for Hours and Matching Gift programs. When an associate volunteers or donates, SECURA donates to the associate's chosen nonprofit.

Volunteering at United Way's Spring into Summer event.

SECURA associates volunteer at Feeding America.

Big Brothers Big Sisters presented an appreciation award to SECURA for its workplace mentoring program.

Remote associates gather to volunteer at a food bank.

SECURA associates participate in Bowl for Kids' Sake with Big Brothers Big Sisters.

Colorado associates volunteer at Mile High Behavioral Health as part of United Way Days of Caring.

Some of the more than 100 organizations we supported through volunteering and donations in 2024 include:

  • Boys & Girls Clubs
  • Community Benefit Tree
  • Feeding America Eastern Wisconsin – Fox Valley
  • Happiness Bag, Inc.
  • Harbor House Domestic Abuse Programs
  • North Dakota Special Olympics, Inc.
  • Riverview Gardens, Inc.
  • The Salvation Army
  • The Women's Center of Southeastern Michigan
  • United Way
Dan Ferris portrait

"The SECURA Gives Back contest is designed as a thank you to our agent partners for the work and philanthropy they do throughout the year. It's a great way for us to reach the communities we serve." – Dan Ferris, Senior Vice President, Chief Legal Officer, and Corporate Secretary

SECURA Gives Back contest

The annual SECURA Gives Back contest encourages agents to nominate nonprofits in their community to win a monetary donation. This year, 13 nonprofits each received a $3,000 donation to help support their mission. Since 2017, a total of $249,500 has been donated to nonprofits through the SECURA Gives Back campaign.

Claims

Larry Wright portrait

"When our policyholders suffer a loss, we are there for them to deliver on our promise and make them whole again. Even through challenging times, our claims associates are committed to providing the best service." – Larry Wright, Senior Vice President and Chief Claims Officer

Paying claims and serving our customers in their time of need is why we are here. Our claims representatives are knowledgeable, professional, and compassionate, so they care for our customers well.

Testimonials

Your team makes the claims process so smooth. We appreciate how clearly organized and on top of communication you are. We are so happy to be with your company.

Dan C.

Everyone on the SECURA team was attentive, knowledgeable, and helpful. They made the entire process simple and painless.

Murray H.

My claim rep did a wonderful job helping me throughout the process. I had never filed a claim before and really appreciated the guidance in doing so! Thanks again!

Stacie J.

Agencies

SECURA partners with independent insurance agents in 13 states to distribute its products.

Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, North Dakota, Pennsylvania, and Wisconsin

Animated graphic of the 13 states SECURA serves

Agency relationships

In 2024, SECURA focused on growing deeper relationships with existing agencies through record Commercial Lines new business growth. SECURA also appointed 30 new contracted agencies that are the right fit to support corporate initiatives and company growth, which contributed approximately $2.8 million to the company's overall direct written premium in 2024.

Tim Heyroth portrait

"Building genuine relationships with our agent partners is a driving factor of our success. Together, we provide exceptional service, support our communities, and accomplish our goals." – Tim Heyroth, Senior Vice President and Chief Sales Officer

Agency education

In 2024, SECURA provided more than 16,300 hours of continuing education credits to its agency partners. Courses were offered in-person, as webinars, or as on-demand videos on a variety of topics.

Tim Heyroth portrait

"We love providing opportunities to earn CE, gain knowledge, and improve skills through our Agency Education team. Through webinars and classes, it is another great way for us to interact with and support our agent partners." – Kristin Heiges, Vice President–Marketing

Project highlights

Amy DeHart portrait

"Small businesses have a big impact on our communities, and we love supporting them with the right insurance coverages and services." – Amy DeHart, Senior Vice President and Chief Actuary

Small business focus

SECURA is committed to writing small business with our agency partners. The company offers competitive coverage options for small businesses in a variety of industries, including beauty salons, health and fitness clubs, hunting and fishing guides, pet groomers, and trade contractors. Plus, we make the quoting process easy for our agents with more than 250 classes available to quote in our online rater, SECURA BizLinkSM.

Carol Wedig portrait

"We want to make submitting business with SECURA easy for our agents, and BizLink is one of the ways we can help streamline the quoting process." – Carol Wedig, Vice President–Chief Information Officer

Service Center

SECURA's new Service Center officially launched Jan. 1, 2024. The Service Center team is made up of experienced licensed agents who act as extensions of an agency. They assist in processing endorsements, issuing quotes, and answering questions.

Throughout the year we were able to expand the types of accounts managed through the Service Center, as well as increase our premium eligibility requirement. The team managed more than 1,200 policies and maintained 96% policy retention.

Kevin Klestinski portrait

"Launching our Service Center with a team of experienced licensed agents and in-depth knowledge of SECURA products allows us to better serve both our agents and our policyholders." – Kevin Klestinski, Senior Vice President and Chief Underwriting Officer

Partnerships

Boys & Girls Clubs of America

SECURA is proud to be a preferred carrier for Boys & Girls Clubs of America, a nonprofit organization offering mentorship, safe places, and life-enhancing programs to empower kids and teens. We're happy to partner with them and provide coverages designed to help protect their properties, members, and mission.

Elide Fire USA

In partnership with Elide Fire USA®, SECURA now offers a new risk mitigation tool, the E Fire Ball. The self-activating ball will extinguish fire when activated by flames and can be mounted indoors or outdoors.

Our people

Sarah Krause portrait

"Our culture is built around our motto of "be real, earn it, have fun". We strive to offer our associates a place where they can grow personally and professionally, build genuine relationships, and work in a people-centered environment." – Sarah Krause, Vice President–Human Resources

SECURA's associates are vital to the success of the company, and maintaining a strong company culture is important. We are invested in our people, their wellbeing, and their happiness. We offer a culture of learning and development, belonging, and flexibility.

Through workplace surveys, awards, and recognitions, we track associates' sentiment regarding our benefits, culture, advancement opportunities, and more. In the annual Workplace Strength Survey, 92% of SECURA associates ranked the company benefits as good or better, and we are proud to have been recognized as a Great Place to Work® for the ninth year in a row.

Associates gather for a networking lunch.

Associates celebrate Diwali with a special lunch.

Underwriting associates enjoying SECURA's home office patio.

SECURA associates gather for a group photo.

New associates attend a two-day networking session, called QuickStart, with other new associates and company leaders.

Associates host a cookie decorating gathering.

Recognition and awards

Recognition by industry groups is just one way we measure our success. Here's a look back at the awards and accolades we earned in 2024.

AM Best WELCOA Great Place to Work
Green Masters Google Reviews Rise Elite

SECURA Officers and Board of Directors

SECURA Officers

Accurate as of Dec. 31, 2024

  • Michael Campbell Vice President–Specialty Lines Underwriting
  • Christine Cousineau Senior Vice President, Chief Financial Officer, and Treasurer
  • Amy DeHart Senior Vice President and Chief Actuary
  • Sarah Endter Vice President–Underwriting Services
  • Daniel Ferris Senior Vice President, Chief Legal Officer, and Corporate Secretary
  • Mary Gronbach Vice President–Investments
  • Kristin Heiges Vice President–Marketing
  • Timothy Heyroth Senior Vice President and Chief Sales Officer
  • Tripp Humston Regional Vice President–Sales
  • Logan Jaklin Vice President–Actuarial Services
  • Kevin Klestinski Senior Vice President and Chief Underwriting Officer
  • Sarah Krause Vice President–Human Resources
  • Brian Lindow Vice President–Information Security
  • Steven Miller Vice President–Commercial Lines Underwriting
  • Jennifer Nelson Vice President–Property Claims
  • John Oehler Vice President–Workers' Compensation
  • Shane Roh Regional Vice President–Sales
  • Sara Stenz Vice President and Controller
  • Jill Uitenbroek Vice President–Internal Audit and Enterprise Risk Management
  • Carol Wedig Vice President–Information Technology
  • Garth Wicinsky President & CEO
  • Larry Wright Senior Vice President and Chief Claims Officer

Board of Directors

  • Daniel Neufelder SECURA Board Chair Retired President Indiana University Health West Central Region
  • Mark Behrens Executive Vice President & CFO Johnson Financial Group
  • Tim Bergstrom President & CEO Bergstrom Automotive
  • Alice Gannon Retired Senior Vice President & Chief Actuary United Services Automobile Association (USAA)
  • David Gross Retired President & CEO SECURA Insurance
  • Chris Hess President and CEO Goodwill Industries of North Central Wisconsin
  • Barbara Rau Distinguished Professor of Management and Human Resources University of Wisconsin Oshkosh
  • John Robison Chief Investment Officer American Fidelity Assurance Company
  • Anne Ross Retired Partner Foley and Lardner, LLP
  • Suzanne Scanlon-Pope Retired Executive Vice President and Chief Information Officer Reinsurance Group of America, Inc.
  • Catherine Tierney President and CEO Community First Credit Union
  • Garth Wicinsky President & CEO SECURA Insurance