Vermont Business Magazine Vermont Mutual Insurance Group, a leading Property and Casualty insurance company, recently held its 198th Annual Meeting at its home office in Montpelier, VT. In 2024 the Group’s assets reached $1,648,357,635 and policyholders’ surplus increased during the year to an all-time high of $840,295,632.
Reviewing the results for 2024, Mark McDonnell, President and CEO of Vermont Mutual, stated “I am pleased to report that despite the challenges of 2023, including the flooding of our home office in July of that year, Vermont Mutual has quickly returned to profitability, and even historic operating results for 2024. McDonnell continued "This past year we wrote over $88M in new premium and achieved a record high of over $811M in total written premium. Additionally, we grew policyholder surplus by over $95M, the most ever in a single year at Vermont Mutual."
During this year’s meeting, current President and CEO, Mark J. McDonnell, was elected as Chair of the Board of Directors. He succeeds former Board Chair and retired President and CEO, Daniel C. Bridge.
Also of note from the meeting was the retirement of William P. Cody from the Board of Directors. Mr. Cody served on the Board for the past twenty-two years, from 2003 to 2025. During his time, he served in a number of roles, including the Board’s Lead Director, a member of the Executive/Compensation Committee, Nominating Committee and the Pension/401K Committee. Current Board Chair, President & CEO Mark McDonnell, commented “Bill’s wise counsel, good judgment, sound advice and his ability to challenge our thinking have contributed immeasurably to the growth and success of our companies. We owe Bill a huge thanks for all he has done for us and wish him many years of health and happiness.”
David J. Provost, Executive Vice President of Finance and Administration at Middlebury College, was elected Lead Director at the Annual Meeting to succeed Bill Cody. Since joining the Board in 2011, Provost has served in a variety of capacities, including chairing the Audit Committee, and as member of the Executive and Compensation Committee. “We’re very fortunate to have such an accomplished individual as David on our Board to succeed Bill Cody as our Lead Director” said Chair, President & CEO, Mark McDonnell. “I look forward to working even more closely with David in his new expanded role on our Board.”
Company officers elected at this year’s meeting were as follows:
Mark J. McDonnell, Board Chair, President & Chief Executive Officer
Brody N. Gilbert, Executive Vice President & Chief Operating Officer
Jonathan R. Becker, Vice President & Chief Underwriting Officer
William J. Cahill, Vice President, Chief Legal Officer & Secretary
David N. DeLuca, Vice President & Chief Claims Officer
Shaun P.T. Farley, Vice President & Chief Marketing Officer
Samuel J. Hopkins, Vice President & Chief Information Officer
Joshua J. Wykle, Vice President & Chief Strategy & Innovation Officer
Sarah B. Young, Vice President & Chief People Officer
Vermont Mutual Insurance Group® is a trade name of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc. and Granite Security Insurance Company. Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the United States and provides coverage throughout New England and upstate New York. Through more than 600 independent agencies, the Group insures over 330,000 policyholders, with a direct written premium of more than $800,000,000. The group is rated “A Excellent” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past 16 consecutive years. For more information, please visit: VermontMutual.com.
Source: MONTPELIER, Vermont (April 17, 2025)—Vermont Mutual Insurance Group
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