Ullico Casualty Group's (UCG) success is due to an unmatched appreciation for the labor movement's needs. By creating and updating coverages as liabilities evolve, UCG’s expert underwriters and claims professionals help protect the personal assets of its policyholders.
As a result, the group had another great year, reflected in solid revenue growth and policyholder retention. Gross premiums in the Professional Lines reached an all-time high, with more than $2.9 million in new business. The group's flagship products (Fiduciary, Fiduciary Excess, Governmental Fiduciary and Union Liability) continued to perform excellently, along with its expanded product lines, which include Commercial Lines and Cyber Liability.
"We had a 96 percent retention rate in 2016. We see that as a signal that policyholders find value in our products," says Tina Fletcher, VP of Ullico Casualty Group. "It helps that we know the multiemployer market and that we're always on the lookout for emerging risks they might face."
The end of 2016 marks a consecutive three-year run in which UCG has reached new heights in terms of revenue, product development and retention. "Our mission is to offer solutions that give union policyholders peace of mind. That's why we're here. That's what we're going to keep doing," says Bill Cavanagh, President of Ullico Casualty Group.
President of Ullico Casualty Group Bill Cavanagh, announced his retirement, effective August 1, 2017, at the February Board of Directors meeting. The Board was both "grateful and gracious for Bill's outstanding leadership," said Ed Smith, Ullico CEO. Not only did Bill guide "us through some extremely challenging times," he said, "but Bill achieved unprecedented growth and simultaneously kept underwriting losses well in line, a remarkable achievement. Bill has been a great asset to the industry."
Likewise, the Board named Tina Fletcher president of UCG effective, August 1, 2017. Tina, a veteran UCG employee, has been senior underwriter, director of underwriting, and vice president of UCG during her tenure at the company. Tina’s portfolio included oversight of policy language, underwriting standards, and monitoring the new and renewal business. Bill said "with the success of the Casualty Team over the last several years, I couldn't think of a better time to transition, and I can't think of a better choice to succeed me as president. Tina is simply outstanding."
The Ullico family sends Bill Cavanagh their best wishes in retirement and looks forward to Tina Fletcher’s UCG stewardship.