The board of Directors of Maple Mutual Insurance is committed to maintaining a strong surplus for your policyholder owned company.

In 2023, Maple Mutual Insurance experienced three major weather related events involving windstorms and flooding.  These events along with a number of large fires and a large auto liability claim led to an underwriting loss of $432,000.  One weather event on a single day Aug 24th 2023 led to over 80 Claims in excess of $1,500,000. These results indicated that a “Refund of Premium” would not be in the best interest of Maple Mutual Insurance.

Refunds should be paid on underwriting results, not on investment profits.  Investment profits are used to keep Maple Mutual reserves strong for future claims, day to day operations and additions or changes to the way we run our business. 2023 showed a return to profitability for investments and overall profitable year on the bottom line of $2,193,736.

The Maple Mutual Insurance annual statement for the year ending December 31st 2023 may be viewed on the company’s website at www.maplemutual.com. A member may obtain a copy of the annual statement by sending a written notice to company’s head office.

The Board will continue to review premium refund annually, and look forward to serving your insurance needs in the future.