HelpAbout LML - President's Message
From Larry Zich - President/CEO - April 2008
Dear Policyholder,
In 2008, the nation experienced unprecedented economic events that have shaken the financial security of many Americans. The drying up of credit markets, the meltdown in the sub-prime market and record home foreclosures are eroding confidence in our financial markets.
Despite these occurrences, Lincoln Mutual has maintained a 100 percent investment-grade bond portfolio with no exposure to the toxic assets referred to in the financial news. Bonds and short-term investments represent 89 percent of Lincoln Mutual’s investment portfolio. The balance of the portfolio is made up of common and preferred stock. Lincoln Mutual continues to remain strong and stable.
It was another profitable year for Lincoln. We produced a net income of $533,180. Policyholder surplus increased from $10,589,099 to $10,756,946, providing a strong foundation to fulfill our obligations to you.
Policyholder service is an important activity at Lincoln. Each year we survey our customers’ satisfaction level and each year the results indicate our employees provide service our customers find “very satisfactory.” Our employees work very hard to achieve this satisfaction level for our policyholders.
Your continued support is very important to us. Please contact us if we can provide you with any service or information. As always, we look forward to serving you in the future.
Sincerely,
Larry Zich