The President's Message
The United States experienced great economic growth this past year. It started with tax changes which enhanced consumer income, job growth, and the lowest unemployment in 50 years.
ELCO benefitted from this growth too. Our admitted assets increased over 15% to $878M. In addition, our surplus increased by 17% and is now over $68M.
With growth comes change. As our assets continued building, we decided to enter into an agreement with J. P. Morgan Asset Management, Inc. (JPMAM). JPMAM manages over $3 trillion across the country and has a staff dedicated to ELCO. This partnership will allow ELCO’s growth to continue, greatly improve the quality of investments, and provide valuable data necessary to make sound investment decisions.
In the early 1980’s, we decided to dedicate our products and marketing to the senior market. We have been successful for a variety of reasons. First, our products are easy to understand, unlike many products available today. Excellent customer service is another reason. When you call ELCO, you will always speak with a real, live person.
Our 72 years of success stems from our dedication to the policyholders. Our business continuity instills the values that were established in 1946: well defined plans, proficient personnel, and a progressive sales force. We are confident in our sustainable growth and look forward to the new opportunities that await in 2019