The Louisiana Workers’ Compensation Corporation (LWCC) announced it has been named to the prestigious 2005 Ward’s 50 Benchmark Group from the Ward Group, a distinction that recognizes the top 50 property and casualty insurers in America. LWCC was selected among more than 1,300 property-casualty insurance companies nationwide and has received the award for four consecutive years.
“We look for companies with an excellent return on equity, strong underwriting results and a commitment to operating efficiency,” explained Jeffrey Rieder, Ward Group partner. “LWCC exceeds in all those areas and has demonstrated the ability to meet all safety and consistency tests during an extended period of time.”
The objectives of Ward’s analysis is to recognize the 50 companies that have excelled at balancing safety, consistency and performance over the past five years and then to benchmark their performance with the industry overall.
“The fact that LWCC is in the top three percent of our industry nationwide and is the only Louisiana company to achieve this distinction speaks volumes of how we’re serving our policyholders,” said Kristin Wall, LWCC president and chief operating officer. “We’re not only making sure their workers are taken care of, but that their dollars are being spent wisely.”
Comparative benchmarking among peer companies can be used to thoroughly analyze an insurer’s operation, including its operating expenses, its profitability by line of business in order to identify divestiture opportunities and to search specific attributes or combination of attributes to assist in identifying acquisition opportunities.
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