We live in a world of uncertainty and insecurity. Uncertainty cannot be avoided, but it can be managed. Livingston, for 130 years, has successfully serviced it policyholders and is in a position to continue meeting the challenges facing the competitive insurance industry.
At Livingston Mutual we are comfortable advocating the conservative approach. We believe that preserving the finest traditions, seasoned with dashes of contemporary problem-solving, is a practical and creative response to today’s insurance complexities.
Our sound balance sheet, shown in the Financial Summary, reveals Assets of $3.2 million and Policyholders Security Account at $2.1 million. Operating results show a small underwriting loss of $62,000. The composite loss and expense ratio for 2007 was 110.6% compared to 105.4% in 2006.
Last year the general economy tended modestly upward. We anticipate a challenging year as investors are entering 2008 tired and jittery, preoccupied by the meltdown in the housing market and growing recession fears.
Basically we are optimistic about the future, and are working diligently today to assure a successful tomorrow. Our client-focused staff and agents are committed to caring and responsive service.
At Livingston we can certainly offer no less than our proven tradition of quality, strength, service and reliability for the protection of our policyholders.
