Dorinco Reinsurance Company
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Dorinco Reinsurance Company
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Statement of Assets and Liabilities Premiums / Lines of Business / Invested Assets Who to Contact for more Information
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Annual Message―Year End 2008 Dorinco experienced strong operating results in 2008, including favorable underwriting income and improved operating cash flow. Nevertheless, the uncertainty in the financial markets and an overall decline in the global economy also impacted Dorinco's financial position. Dorinco's admitted assets decreased to $1.61 billion in 2008, down from $1.94 billion in 2007. Surplus decreased by $57.6 million to $531.7 million, a decrease of 9.8%. Cash and invested assets decreased by $228 million or 14.5% versus 2007. Overall, the company's total return on invested assets for 2008 was -8.0% compared to 12.7% in 2007. Dorinco produced net income of $76.4 million for the year. Earned premiums in 2008 were $183.5 million up from $120.9 million the previous year. The Company has solidified its position as a niche market for assumed reinsurance specializing in less volatile and predictable lines of business. Dorinco will continue to have a stable market presence, expanding in its niche markets, offering easy access, efficient service and creative products. Regional U.S. insurance companies continue to be the targeted clients.
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