Annual Company Profile 2023
Annual Company Profile 2023
Table of Contents O2 Message from Our President O4 Mission, Vision, Values O6 Financial Overview O8 The History of Merchants Insurance Group 1O Where Are We Located? 12 Meet the Board 14 Meet the Leadership 16 Awards and Distinctions 2O Independent Agent Partners 22 President’s Club 24 Agent of the Year 26 Producer Training School 3O What Our Agents Have to Say About Merchants Introduction About Merchants Independent Agent Partners
38 Company Culture 4O Careers and Internships 42 What Our Colleagues Have to Say About Merchants 44 Our Benefits at Merchants 46 2023 Anniversaries 48 2023 Retirements 5O Company Events 52 Merchants Gives Back 54 President’s Award 56 Thank You! 32 Focus On Serving Our Policyholders 34 Protections We Offer 36 What Our Policyholders Have to Say About Merchants Our Customers Company Culture
Message from Our President & CEO It is my pleasure to share with you our 2023 Merchants Insurance Group Company Profile! This publication summarizes our performance as we celebrated our company’s 105th year in business last year. In many ways, 2023 was a challenging year, beginning in the aftermath of Winter Storm Elliott. This storm devastated much of the northeast, especially the City of Buffalo and the surrounding areas of Western New York. What followed was a difficult year in the property and casualty insurance industry, where we faced significant increases in our reinsurance costs, surging claim loss costs, supply chain issues, labor shortages, and continued higher than expected social and economic inflation. In our 105 years in business, it is not the first time Merchants has faced significant challenges in the industry. These obstacles were faced head on Charles E. Makey, III PRESIDENT & CHIEF EXECUTIVE OFFICER PAGE O2
PAGE O3 and overcome by our dedicated team. Some of our significant accomplishments and milestones last year include: Total Direct Written Premiums finished at $515,000,000. It is the first time Merchants Insurance crested the ½ Billion written premium threshold. Ward’s Group recognized Merchants Insurance as a top 50 property/ casualty insurance carrier in the United States for the third consecutive year. Merchants was named a “Top Private Company,” and “Fast Track Company,” by Buffalo Business First, two distinctions acknowledging the company’s impressive growth and profitability, for the fifth consecutive year. AM Best affirmed our A- (Excellent) Rating and upgraded Merchants’ outlook from “stable” to “positive.” In 2023, for the first time ever, Merchants Insurance Group was named one of the “Best Places to Work in Western New York” by Buffalo Business First. I am pleased to share that we have once again earned this distinction in 2024. This is a direct reflection of the dynamic, positive culture we’ve built over many years as a regional mutual carrier. I am honored to earn this recognition from our colleagues based on their positive survey responses. Merchants is a relationship-oriented company in all we do. Our dedication to exceptional customer service, strong partnerships with independent insurance agents, and our internal colleague collaboration and teamwork continues to allow us to be a top performing Property Casualty insurance carrier in a competitive industry. We have become stronger as we navigated through many challenges over the past several years including COVID. We have learned and achieved so much together that it gives me optimism heading into a new year. I am extremely confident given our talented, dedicated, and loyal agents, colleagues, and policyholders that our company will continue to achieve success in 2024 and beyond. Finally, I want to take this opportunity to express my sincere gratitude to our valued policyholders, independent insurance agent partners, and our dedicated colleagues for your commitment to Merchants. I truly appreciate your unwavering support and the important role you play in our Company’s continued success. Charles E. Makey, III – – – –
Mission Vision Values MERCHANTS INSURANCE GROUP 4
PAGE O5 Our Mission We exist to be the property/casualty insurance company independent agents trust most to serve their valued customers. We believe trust is earned through high credibility, reliability, and intimacy, and a low self-orientation. We exist to provide policyholders with peace of mind so they may live their dreams. Our Vision Our Values We aspire to become We value The preferred provider of property and casualty insurance for small business owners in target segments and geographies. The carrier of choice among independent agents by providing unparalleled EASE (Efficiency, Access, Stability, and Economic benefit), and listening and responding promptly to their needs. An employer of choice. – – – Integrity Respect Loyalty Teamwork Aspiration to Improve – – – – –
Policies in Force 82,462 Financial Overview 2023 HIGHLIGHTS Direct Written Premium $515.8M Policyholders’ Surplus $321.2M Total Assets $1.078B Net Income $7.3M New Business $79.8M Combined Ratio 105.1% PAGE O6
PAGE O7 101.15% • $259.4M 97.20% 113.76% • $170.9M 96.74% • $529.9M 7.37% • $35.4M 105.10% 2.80% • $8.7M 8.39% • $83.4M 56.60% • $186.4M 98.20% 43.03% • $96.6M 53.60% • $376.1M 1-YEAR GROWTH 1-YEAR 1-YEAR GROWTH 1-YEAR GROWTH 5-YEAR GROWTH 5-YEAR 5-YEAR GROWTH 5-YEAR GROWTH 10-YEAR GROWTH 10-YEAR 10-YEAR GROWTH 10-YEAR GROWTH DIRECT WRITTEN PREMIUM COMBINED RATIO POLICYHOLDERS’ SURPLUS TOTAL ADMITTED ASSETS 1-YEAR, 5-YEAR, AND 10-YEAR SUCCESS
The History of Merchants Insurance Group Merchants Insurance Group was founded by Urban F. Jehle, owner and operator of a grocery store on Buffalo’s West Side, in 1918. He returned from a grocers’ convention with the idea of banding merchants together for the mutual protection of their delivery vehicles. J.R. Young, a local insurance man, Owen B. Augspurger, a Buffalo lawyer, and C.W. Brown, a civil engineer, joined him. Together, they envisioned a company that would write automobile insurance through local independent agents. On March 5, 1918, Merchants Mutual Liability Company opened for business. Mr. Jehle served as president of the company until 1923. Throughout the years, we’ve grown and changed, but we’ve continued to bring quality products and services to our agents, our policyholders, and our communities. Today, Merchants works with more than 1,000 independent insurance agents in our business territories in Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Vermont. In 2023, Merchants Insurance Group celebrated 105 years of insuring our policyholders’ futures and earning your business every day. PAGE O8
Where Are We Located? Territories We Serve Merchants Insurance Group provides property and casualty insurance protection to policyholders in Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania and Vermont. PAGE 1O
PAGE 11 Our regional offices are located in: Buffalo, New York CORPORATE HEADQUARTERS & WESTERN STRATEGIC BUSINESS CENTER Serving Upstate and Western New York as well as Western Pennsylvania, Ohio, and Michigan 250 Main Street Buffalo, New York 14202 Hauppauge, New York EASTERN STRATEGIC BUSINESS CENTER Serving Lower Hudson Valley and Long Island, New York 1393 Veterans Memorial Highway, Suite 401S Hauppauge, New York 11788 Bedford, New Hampshire NEW ENGLAND REGIONAL OFFICE Serving Massachusetts, New Hampshire, and Vermont 5 Bedford Farms, Suite 101 Bedford, New Hampshire 03110 Mt. Laurel, New Jersey MIDLANTIC REGIONAL OFFICE Serving New Jersey and Eastern Pennsylvania 309 Fellowship Road, Suite 300 Mt. Laurel, New Jersey 08054
Charles E. Makey, III PRESIDENT AND CHIEF EXECUTIVE OFFICER, MERCHANTS INSURANCE GROUP Bob Zak CHAIRMAN OF THE BOARD FORMER PRESIDENT & CHIEF EXECUTIVE OFFICER, MERCHANTS INSURANCE GROUP Meet the Board John M. Foehl, Jr. INSURANCE CONSULTANT, RETIRED INSURANCE EXECUTIVE Dr. Muriel A. Howard FORMER PRESIDENT, AMERICAN ASSOCIATION OF STATE COLLEGES AND UNIVERSITIES Christopher Koenig PRESIDENT & CHIEF EXECUTIVE OFFICER, NIAGARA LUTHERAN HEALTH SYSTEM; PRESIDENT & CHIEF EXECUTIVE OFFICER, SCHOFIELD CARE; PRESIDENT, LINEAGE CARE GROUP Brian J. Lipke FORMER CHAIRMAN AND CEO, GIBRALTAR INDUSTRIES PAGE 12
Michael J. Murray RETIRED MANAGING PARTNER, ERNST AND YOUNG Jeff Meyer PRESIDENT AND CEO, BAILLIE LUMBER CO. David Ourlicht MANAGING DIRECTOR AND SPECIAL ADVISOR TO THE CHAIRMAN OF GAMCO Tom Meyers FORMER CHIEF FINANCIAL OFFICER AND TREASURER, MERCHANTS MUTUAL INSURANCE COMPANY Edward G. Wright CHAIRMAN AND CEO, W.J. COX ASSOCIATES INC. Ronald K. Zoeller CHIEF EXECUTIVE OFFICER, AZEROS HEALTHCARE, LLC PAGE 13 To learn more about Merchants’ board, visit merchantsgroup.com/about/meet-the-board Nora K. McGuire RETIRED SR. VICE PRESIDENT AND CHIEF MARKETING OFFICER, INDEPENDENT HEALTH
Meet the Leadership Charles E. Makey, III PRESIDENT AND CHIEF EXECUTIVE OFFICER Scott Behrent VICE PRESIDENT, NATIONAL DISTRIBUTION Dan Bierbrauer SENIOR VICE PRESIDENT OF REGIONAL OPERATIONS Kenneth Carter VICE PRESIDENT OF CLAIM OPERATIONS Stephen Cross VICE PRESIDENT AND CHIEF INFORMATION OFFICER Kelly Julius VICE PRESIDENT OF HUMAN RESOURCES PAGE 14
Benjamin Walden VICE PRESIDENT, CHIEF ACTUARY Joseph Meyer SENIOR VICE PRESIDENT OF UNDERWRITING, PRODUCT MANAGEMENT, AND CORPORATE PROGRAMS Rich Chichester REGIONAL VICE PRESIDENT, MIDATLANTIC REGIONAL OFFICE Christine Schmitt EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER Kevin Lasante REGIONAL VICE PRESIDENT, NEW ENGLAND REGIONAL OFFICE Andy Meehan REGIONAL VICE PRESIDENT, EASTERN STRATEGIC BUSINESS CENTER Greg Robinson REGIONAL VICE PRESIDENT, WESTERN STRATEGIC BUSINESS CENTER PAGE 15 To learn more about Merchants’ leadership, visit merchantsgroup.com/about/meet-the-leadership
Awards and Distinctions All three of Merchants Insurance Group’s companies (Merchants Mutual Insurance Company, Merchants Preferred Insurance Company, and Merchants National Insurance Company) were once again given an “A-“ (Excellent) rating from the AM Best Company. This year, the AM Best Company also upgraded Merchants’ outlook from “stable” to “positive.” “A-” Excellent Rating by AM Best Company PAGE 16
PAGE 17 Merchants Insurance Group has been named among Western New York’s 2024 “Best Places to Work,” according to Business First! This is the second consecutive year that Merchants has pursued and received this distinction. Finalists were determined by the results of an anonymous employee survey conducted in the fall of 2023. Of 80 organizations on this year’s list, Merchants Insurance Group was one of only six companies of its size (250-799 employees) recognized. “The amazing team of talented professionals at Merchants make our company great every day!” said Charles Makey, President and CEO of Merchants Insurance Group. Best Places to Work in Western New York In 2023, Merchants Insurance Group was granted Ward’s 50® Designation as a topperforming property-casualty insurance company for the third consecutive year. Ward Benchmarking, an Aon company, provides studies into best practices and benchmarking for companies in the insurance industry, helping organizations improve efficiency and increase profitability. Ward’s 50® recognizes 50 of the 2,900 property-casualty insurance companies in the United States for their exceptional performance over a five-year analysis. “This award is the result of the dedicated Merchants team working together every day to provide superior service and financial protection for our independent agents and policyholders,” said Merchants Insurance Group President and CEO Charles Makey. “Merchants Insurance Group is so proud to earn this prestigious award.” Ward’s 50
Awards and Distinctions Each year, the Buffalo Business First presents Western New York’s fastest growing companies with this award, based on revenue growth over a three-year period. Merchants ranked 39th of 48 companies on this year’s list, with 18.12% revenue growth. 2023 marked the fifth consecutive year that Merchants received this distinction. “Fast Track” Companies of Western New York PAGE 18
PAGE 19 Top Private Companies of Western New York In November 2023, Merchants Insurance Group was recognized as one of “Western New York’s Top Private Companies,” according Buffalo Business First, for the fifth consecutive year. Merchants ranked fifth out of 51 private companies on the list. The 2023 results, which consist of financial data collected from 2022, show corporate growth in total revenues of approximately $30.7 million, or 6.8%, compared to 2021. The list is comprised of Western New York-headquartered private companies that agreed to have their financial records reviewed by certified public accountants (CPAs) at Dopkins and Company LLP. “We are proud to be a part of this impressive list of Buffalo private companies. Merchants Insurance has a long history in Buffalo. Our success can be attributed to our dedicated colleagues, strong independent agency partnerships, and loyal policyholders. We appreciate all the support and look forward to continued success in Western New York!” said Charles Makey, President and CEO of Merchants Insurance Group.
Independent Agent Partners MERCHANTS INSURANCE GROUP 20 To learn more and become an agent partner, visit merchantsgroup.com/become-an-agent
PAGE 21 Independent Agents We sell our products through independents agents because we believe they provide value to policyholders through their broad range of products and their insurance expertise. We seek business partners that are professional, ethical and dedicated to success through uncompromising service to their valued customers. Merchants regularly appoints new independent agents throughout our operating territories. Our products are sold through a network of more than 1,000 independent insurance agents that are typically located in small and medium-sized cities, suburban and rural communities. As a carrier dedicated exclusively to independent agencies, Merchants is committed to helping you achieve your goals. Our regional presence enables us to develop personal relationships based on earning your trust. Agent Value Proposition We will bring value to your agency by: Listening and responding promptly to your needs. Providing a strategic array of competitive products to enable you to write and retain more business. Offering superior compensation plans to enable you to build, grow, and reinvest. Enhancing our IT integration with agencies to continually improve ease of doing business, saving you time and money. Remaining a viable and stable market across insurance cycles. Measuring your view of our performance regularly. Strengthening your client relationships by optimizing the policyholder experience. – – – – – – –
President’s Club Merchants Insurance Group is committed to bringing value to our agent partners by offering superior compensation plans to help these agencies build, grow, and reinvest. As a carrier dedicated exclusively to independent agencies, we are devoted to helping our independent agent partners achieve their goals. President’s Club is Merchants’ way of recognizing and thanking our top agent partners. These exceptional agents go above and beyond in our partnership. This prestigious distinction began in 2000 under then-President Robert Zak, Merchants’ current Chairman of the Board. Our Current President and Chief Executive Officer Charles Makey is honored to continue our President’s Club legacy recognizing our highestachieving partners and upholding Merchants’ emphasis on relationships. We work collectively with our local and national agency councils on program qualifications and benefits to ensure that our President’s Club remains superior within the industry. Qualifying agencies are recognized in four tiers: standard President’s Club, President’s Club Plus, President’s Club Elite, and President’s Club Premier. Congratulations to the 2024 President’s Club members! We’re proud of the work we do together and are committed to earning your business every day. PAGE 22
PAGE 23 HUB International Northeast Brookhaven Agency, Inc. Borg & Borg, Inc. Renaissance Alliance INS SVCS R.J. Fregenti Associates Inc. Mill Creek Agency, Inc. The Hilb Group of New England Industrial Coverage Colstan & Associates, Inc. E & N Financial Services Inc. SAN Group Inc. Roy H. Reeve Agency, Inc. New Jersey Agency Network Inc. United Insurance Agency Inc. Dayton Ritz & Osborne Strategic Agency Partners 3S Agencies, Inc. Affiliated Agency, Inc. Empire Spectrum LLC Acrisure, LLC Paris-Kirwan Associates Inc. Insurance SVCS of New England Consolidated Ins. Agents Inc. ISU INS SVCS of San Francisco Satellite AGY Network of NY Hallahan, McGuinness & Lorys Takach & Associates Inc. Agents’ Advantage, Inc. AssuredPartners Northeast LLC Hudson Valley Agency Alliance Iroquois Services Corp. R & W Brokerage, Inc. Middleton & Company Cross Insurance Patriot Growth INS SVCS LLC The Armada Insurance Agency 2024 President’s Club Members Each year, Merchants Insurance Group organizes a trip for the President’s Club. The trip is an additional way of thanking you, our outstanding agents, for your continuous dedication and business with Merchants Insurance Group.
Agent of the Year Recognizing agency excellence in integrity, respect, loyalty, teamwork and the aspiration to improve. About the Award The Agent of the Year award recognizes one of Merchants’ more than 1,000 independent agencies for achieving success through outstanding customer service. In addition, award recipients must embrace Merchants’ core values of integrity, respect, loyalty, teamwork and the aspiration to improve. Congratulations to Roy H. Reeve Agency, Inc. of Mattituck, New York on being named Merchants Insurance Group’s 2023 Agent of the Year! PAGE 24
PAGE 25 Roy H. Reeve Agency, Inc. Mattituck, NY Middleton & Company Newton, NJ Vanner Insurance Agency (now AssuredPartners, Inc.) Buffalo, NY Affiliated Agency, Inc. Plainview, NY Wolf Agency, Inc. Orchard Park, NY Industrial Coverage Patchogue, NY The Scirocco Group (now Acrisure, LLC) Hasbrouck Heights, NJ Dayton Ritz & Osborne East Hampton, NY R & W Brokerage Lynbrook, NY Sykes-Mallia Associates, Inc Schenectady, NY Libardi Service Agency, LLC Hicksville, NY Lawley Tradition, LLC Fredonia, NY Archer A. Associates (now AssuredPartners, Inc.) Melville, NY Hunter Insurance Manville, RI Maran Corporate Risk Associates, Inc (now Cook Maran & Associates) Melville, NY 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 Agent of the Year Recipients, 2023 and Prior:
PAGE 27 To request an application for Producer Training School, email Bob Perno: [email protected] BOB PERNO CORPORATE SALES MANAGER Producer Training School 2023 marked Merchants’ 12th Producer Training School. Founded in 2011, the program has had 247 total graduates since its inception. Producer Training School (PTS) is an intensive five-day seminar designed for insurance professionals with a minimum of six months in the industry to hone their selling skills and grow in the insurance field. Previous attendees have said that PTS was “a must for new agents,” and that “even seasoned producers would find tremendous value!” This training opportunity provides attendees with an invaluable professional development experience and the chance to build and develop strong relationships with Merchants’ staff and other producers. Participants also have the ability to earn CE credits through attending. Producer Training School 2024 will take place from October 6th-11th in Buffalo, New York. To learn more about Producer Training School, visit merchantsgroup.com/producer-training-school
Producer Training School Omar Elmahrouky KAPLAN INSURANCE AGENCY INC. Robert Dempsey AVERSA AGENCY INC. Jessica Burditt THE PATRICK MAGUIRE AGENCY INC./SID G. SPEAR INSURANCE SERVICES Tim Berends THE FELTNER GROUP INC. Nick Anastos BEALS INSURANCE AGENCY Ryan Harrah HARRAH & ASSOCIATES Joe Ehland EBER & ASSOCIATES Katie Charland THE PATRICK MAGUIRE AGENCY INC./SID G. SPEAR INSURANCE SERVICES Josh Berg STAHLKA AGENCY INC. Andrew Bennett DAYTON RITZ & OSBORNE PAGE 28 Congratulations to our 2023 attendees on completing Producer Training School! Class of 2023
Connor Wilkins LONG AGENCY INSURANCE Ed Rovegno CORCORAN & HAVLIN INS. GROUP Anthony Pappalardo INSURANCE SOLUTIONS CORP. Nicole Kristen Lee HAMPTONS RISK MANAGEMENT Harrison Kaplan KAPLAN INSURANCE AGENCY INC. Robert Zegarek HUB INTERNATIONAL NORTHEAST Alec Toth THE FINANCIAL GUYS HOME & AUTO Jeff Perkins THE RICHARDS GROUP Liam Murphy THE BARCLAY GROUP Robert Lane PARIS-KIRWAN ASSOCIATES, INC. PAGE 29
What Our Agents Have to Say About Merchants
PAGE 31 " Merchants is a great partner to our firm. We enjoy working with the entire team and servicing the WNY community together! " My very first experience with Merchants, they went above and beyond to help me, and my client was thrilled! " I think Merchants is GREAT. You are to be commended for running a class act company that is so supportive of the Agency system. Thank you for all you do. " I can’t praise the staff at Merchants enough for your support, loyalty, and ease of doing business from the New England office to frankly everyone who has supported my office for so many years – A team on your side with so much value, loyalty, and character!
Merchants Insurance Group exclusively partners with independent insurance agents for the benefit of our customers. When an independent agent’s client becomes a Merchants policyholder, we know that we are the right carrier to serve their needs, and we remain dedicated to continuously optimizing the Merchants customer experience. Merchants is committed to improving our policyholder experience and dedicated to several ongoing initiatives to provide our policyholders with enhanced services to meet their needs! PAGE 32 Focus on Serving Our Policyholders
PAGE 35 Protections We Offer Merchants Insurance Group offers a variety of insurance products to provide you with peace of mind and protection for your business needs. Merchants provides property and casualty insurance protection to policyholders in Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Vermont. We specialize in commercial lines, offering insurance for business owners including auto repair and collision shops; artisan contractors; building owners; food service operations; offices; retail and service businesses; small wholesalers; and business auto coverage. In New York, Merchants Insurance Group offers additional insurance options to protect individual needs, including insurance for personal automobiles, homes, and additional liability insurance with our personal umbrella coverage. To find an agent near you to discuss Merchants coverage options, visit merchantsgroup.com/agent-search
What Our Policyholders Have to Say About Merchants
PAGE 37 " You have hit the “sweet spot” with insurance service. Keep it up! " Claim representative was helpful and professional. Thanks for the great service. " I have and will continue to recommend Merchants Group to fellow business owners, specifically for their superior customer service. " I am so happy that I made the choice to switch to Merchants. I have had nothing but wonderful experiences with everyone I have encountered.
Company Culture MERCHANTS INSURANCE GROUP 38
PAGE 39 Our Culture Our Commitment to Diversity Just as we provide premier quality service to our customers and independent agent partners, we dedicate an equal level of commitment to enhancing the lives of our colleagues and members of our surrounding communities. Fostering a diverse and inclusive workplace is integral to our values of integrity, respect, loyalty, teamwork, and aspiration to improve. We embrace our colleagues’ unique backgrounds and cultures, and implement various initiatives to continuously strengthen diversity within our community. Merchants Insurance Group is committed to diversity in the workplace and is an equal opportunity employer.
Then you’ll fit right in at Merchants! To explore opportunities, visit merchantsgroup.com/careers At Merchants Insurance Group, we value the unique knowledge and skillset of each individual in our community, understanding that our cumulative efforts are what produce successful results. We encourage each colleague’s personal and professional growth, and we celebrate their achievements along the way. Careers Are you looking for a community where you can excel and grow? Are you passionate about what you do and eager to improve? Are you inspired by working as a team with other talented individuals? – – – Careers and Internships
PAGE 41 Are you a college student excited about gaining hands-on experience in your field? An internship with Merchants just might be perfect for you! We often offer internship opportunities, especially during the summer months. Internships at Merchants are paid because we recognize the value you contribute to the company. It is also not uncommon for us to hire previous interns for full time positions upon their completion of their degrees. Internships I absolutely cherished my time here at Merchants – a place filled with supportive and collaborative colleagues…This internship has been an enlightening journey, introducing me to novel facets of IT that were previously unbeknownst to me, and enabling me to apply the knowledge I’ve gained during my initial year of ITM major. My projects spanned a wide spectrum, from troubleshooting intricate software glitches to creating new network connections on a new floor and even delving into projects related to migration to a new email system. " FYROSE NOWER ENTERPRISE TECH SERVICES INTERN, 2023
What Our Colleagues Have to Say About Merchants
PAGE 43 " I decided to work at Merchants Insurance Group because I wanted to be an employee of a company with a proud history and excellent reputation. Many employees have enjoyed internal promotions and longevity in their positions. I am excited to have an opportunity to use my education and skills to make positive contributions to this great company and to the clients Merchants serves. CHRISTINA ZHANG SR. FINANCIAL ACCOUNTANT " I’m incredibly thankful to Merchants Insurance Group for giving me the opportunity to begin my career in the insurance industry, especially during a time when job security is very highly valued. The communication and transparency towards their employees is exceptional, as well as their ability to assist in pursuing future career paths in the industry. MAXWELL BATTISTONI ACTUARIAL ANALYST – RESERVES " By the time my internship had ended, Merchants had left a great impression on me, highlighted by its welcoming atmosphere and commitment to teamwork. It was a no-brainer for me to apply for a full-time job. Coming back to Merchants has truly been a dream come true! JOHN LAMMERS .NET DEVELOPER II
Our Benefits at Merchants
PAGE 45 In addition to a competitive salary, we offer unparalleled compensation incentive programs and an attractive benefits package. This includes: Medical, dental, vision coverages Wellness programs and activities Paid vacation and holidays Flexible work schedules Hybrid work environment Employee assistance program (EAP) through TotalCare EAP On-Site common area walking track (Corporate office only) Employee referral bonus program Discount on homeowners and auto insurance Short and long term disability insurance Accident Insurance, Critical Illness and Hospital Indemnity through The Hartford 401k retirement savings plan with a Roth option: Company match 100% of employee contributions up to 6% of eligible annual 401(k) contributions. Colleagues are immediately 100% vested in the employer match dollars Educational incentive rewards Company discount perks Various employee recognition programs Life insurance for employees and dependents Health, dependent care and commuter reimbursement accounts Tuition reimbursement opportunities for degree programs, designations, and more Community volunteerism opportunities – – – – – – – – – – – – – – – – – – –
2023 Anniversaries PAGE 46 At Merchants, we are proud of the longevity trend within our company. Many of our colleagues have been with the company for much, if not most, of their careers. We recognize and celebrate our colleagues’ anniversary milestones throughout the year. In 2023, we celebrated the following milestone colleague anniversaries: Michelle Babel 15 YEARS Daniel Bierbrauer 25 YEARS Lauren Clauss 15 YEARS James Fierro 20 YEARS Donna Gill 25 YEARS Andrew Johnson 15 YEARS Andrea Leuthe 20 YEARS Scott Shaw 15 YEARS Susan Bass 35 YEARS Monica Camp 25 YEARS Haoling Du 15 YEARS John Geagan 30 YEARS Catharine Grannan 20 YEARS Kelly Julius 15 YEARS Joanne Scavone 15 YEARS Pennie Phillipp 20 YEARS Robert Troman 15 YEARS Janice Wojtanik 45 YEARS