Our financial success has been built on a conservative business philosophy designed to fully empower our mission to advance, protect, and reward the practice of good medicine. Our long history of stability and strong performance has been repeatedly recognized by many independent evaluators, and The Doctors Company is rated A by both AM Best and Fitch Ratings.
We strive to be your best business partner—our financial strength enables us to deliver unprecedented rewards to your clients through lower average premium rates, Tribute® Plan contributions, and member dividends and credits. Your clients can count on us to have the power and financial resources necessary to protect them today and for many years to come.
The Doctors Company Group Consolidated Operating Results
| Financial Highlights (dollars in thousands) | 2025 | 2024 |
|---|---|---|
| Total Assets | $8,379,663 | $7,830,294 |
| Loss Reserves | $3,971,363 | $3,726,069 |
| Direct Premiums Written | $1,551,586 | $1,489,115 |
| Net Premiums Earned | $1,383,320 | $1,284,289 |
| Policyholders’ Surplus | $3,414,815 | $3,118,583 |
| Number of Insured Healthcare Professionals | 124,947 | 118,572 |
| Total Open Claims | 14,738 | 14,713 |
| Reserves-to-Surplus Ratio | 1.16 | 1.19 |
| Premium-to-Surplus Ratio | 0.40 | 0.42 |
| Balance Sheet (statutory basis–unaudited) (in thousands) at December 31 | ||
| Assets | ||
| Bonds | $4,115,485 | $4,782,356 |
| Equity Securities | $1,140,039 | $1,364,638 |
| Cash and Short-Term Investments | $1,947,780 | $546,050 |
| Other Invested Assets | $626,199 | $588,905 |
| Total Cash and Invested Assets | $7,829,503 | $7,281,949 |
| Uncollected Premiums | $442,115 | $417,060 |
| Reinsurance Recoverable | 19,766 | 14,991 |
| Other Assets | 88,279 | 116,294 |
| Total Assets | $8,379,663 | $7,830,294 |
| Liabilities and Policyholders’ Surplus | ||
| Reserves for Losses and Loss Adjustment Expenses | $3,971,363 | $3,726,069 |
| Unearned Premiums | 718,973 | 722,428 |
| Accrued Expenses | 10,166 | 11,005 |
| Policyholder Dividends | 12,011 | 10,773 |
| Other Liabilities | 252,335 | 241,436 |
| Total Liabilities | $4,964,848 | $4,711,711 |
| Surplus Notes | 500,000 | 500,000 |
| Policyholders’ Surplus | 2,914,815 | 2,618,583 |
| Surplus as Regards Policyholders | $3,414,815 | $3,118,583 |
| Total Liabilities and Policyholders’ Surplus | $8,379,663 | $7,830,294 |
| Income Statements (statutory basis–unaudited) (in thousands) for years ended December 31 | ||
| Underwriting Income | ||
| Net Premiums Earned | $1,383,320 | $1,284,289 |
| Underwriting Deductions | ||
| Loss and Loss Adjustment Expenses | 1,019,202 | 947,480 |
| Other Underwriting Expenses Incurred | 297,836 | 288,839 |
| Total Underwriting Deductions | 1,317,038 | 1,236,319 |
| Net Underwriting Gain | $66,282 | $47,970 |
| Net Investment Income Earned | 309,353 | 266,958 |
| Realized Gain (Loss) on Sale of Investments | 22,293 | (29,215) |
| Net Investment Gain | 331,646 | 237,743 |
| Other Operating Income | 3,368 | 2,789 |
| Income before Taxes and Dividends | $401,296 | $288,502 |
| Policyholder Dividends | (15,127) | (13,605) |
| Federal Tax (Benefit) / Expense | (74,696) | (44,395) |
| Statutory Net Income | $311,473 | $230,502 |
| *The Doctors Company is part of TDC Group. These results include all insurance entities of TDC Group, except number of insured members, which only includes members of The Doctors Company and The Doctors Company Risk Retention Group. | ||
View a detailed 2025 Annual Statement.
