Acadia Insurance Announces Associated Subcontractors of Massachusetts Dividend Valuations* for the 2021, 2022 and 2023 Plan Years
Acadia Insurance is pleased to support the Associated Subcontractors of Massachusetts (ASM) and its members by offering the Central New England Subcontractors Safety Group Program, an all lines insurance program which provides participating members the opportunity to earn dividends based on group and individual performance. The Program is endorsed by ASM and provides three separate valuations for each plan year. The most recent valuations for the 2021, 2022 and 2023 Plan Years, completed with results as of December 31, 2024, produced the following results.
2021 Plan Year – Third and Final of Three Adjustments
The third and final of three adjustments for the 2021 Plan Year does not qualify the group for a Dividend Fund due to the group loss ratio of 45.9%. A Dividend Fund of $694,126 had previously been distributed to qualifying members through the first two valuations as of 12/31/22 and 12/31/23. This is the third and final adjustment with a total Dividend Fund distribution of $694,126 to qualifying members for the 2021 Plan Year through three valuations.
2022 Plan Year – Second of Three Adjustments
The second of three adjustments for the 2022 Plan Year does not qualify the group for a Dividend Fund due to the group loss ratio of 47%. A Dividend Fund of $301,084 had previously been distributed to qualifying members from the first valuation with results valued as of 12/31/23. The third and final adjustment for this Plan Year will be calculated based on results valued as of December 31, 2025.
2023 Plan Year – First of Three Adjustments
The first of three adjustments for the 2023 Plan Year qualifies the group for a $323,288 Dividend Fund based on the group loss ratio of 35.6%. The second of three adjustments for this Plan Year will be calculated based on results valued as of December 31, 2025, and the third/final valuation as of December 31, 2026.
The ASM Dividend Program has returned $10.1 million in all lines dividend returns to qualifying members since the Program’s inception in 2003.
Acadia appreciates your ongoing support of the ASM Program and looks forward to continued growth and benefits to all members. Individual insured letters and checks will be delivered to their respective Acadia agents soon. Should you have any questions or wish to incorporate the ASM Program as part of your agency’s own marketing strategies, please contact Casey McPherson, Regional Marketing Director, at 508-263-2539 or [email protected].
Thank you for your business!
*Dividends are based upon experience, are subject to Board approval, and the terms and conditions of the program are not guaranteed. The amount of dividends paid in the past are not indicative of what may be payable in the future.
