I have appreciated the opportunity to serve as the Cayuga Mutual Chair this past year and would like to thank the Board, Management, Agents, Staff and Members for their great support and encouragement through one of the most challenging of years.
This past year Walter Hyslop, one of our long-standing Directors retired and I would like to thank him on behalf of everyone for his many years of dedication and hard work.
New to the Board we welcome Mike Falk.
Furthermore, after serving Cayuga Mutual for 13 years, agent Mike Cowan retired. We wish Mike well in his retirement and welcome Trent Byleveld to the Cayuga Mutual team of agents.
Joining our office team are Melissa Marcoux as our Chief Financial Officer, Trent Byleveld as a sales agent and Stacey Aitchison as our Property Underwriting Manager.
Even though merely mentioning the year 2020 would make most people cringe, there have been some positives we can take pride in. Cayuga Mutual reached further milestones in Net Written Premium (12M+) and Member Surplus (20m+). In the face of government shutdowns, restrictions, and social distancing requirements, we still managed to come together as a team, moving Cayuga Mutual forward in a safe and successful manner. We posted an underwriting profit, forged mainly by excellent property results while auto claims continued to be challenging. Investment returns appeared troubling during the first quarter of 2020; however prudent financial management culminated in an excellent overall result.
As everyone is aware, working from home became the new norm. We managed to provide the same level of service to our clientele while adhering to “lockdown” guidelines. Our staff and agents demonstrated their collective agility transitioning from an in-office environment to an at home one seamlessly. As well, the Board of Directors turned monthly meetings normally held in-person, into meetings held virtually – a new experience for us all!
Renovations to the office that were in the planning stage in 2019 have now been completed despite Covid-19 restrictions. Although we started with more elaborate plans for the building, we opted to scale back and stay within the confines of the existing footprint. We have provided the staff with updated workspaces while reconfiguring these areas to capture more natural light thus improving the work experience.
In a word, Cayuga Mutual and all those connected to it demonstrated an amazing degree of resiliency. I would like to thank you again for the opportunity to serve as your Chair and for your hard work and dedication over the past year and may 2021 bring brighter days for us all.