Conventus Reports Solid 2010 Financial Results and Continued Growth at Annual Meeting

(Woodbridge, NJ) May 13, 2011 – Conventus Inter-Insurance Exchange held its ninth Annual Member Meeting, open to all Conventus members, on May 11, 2011 in Woodbridge, New Jersey. Once again, the management team was able to report very positive results for the previous year, with Conventus’ conservative, fiscally-responsible approach leading to the company closing 2010 with a total surplus of $32.9 million, up from $28.2 million in 2009.

Membership also continues to grow, with over 100 new members added in 2010. As of the end of Q1 2011, total active membership stood at more than 1100 physicians.

“We are committed to protecting member-owners of the Exchange while meeting their expectations of what Conventus represents,” said Conventus President Lyn W. Winters. “With this in mind, Conventus continues to adhere to a policy of conservative underwriting, initial pricing and capitalization. We have certainly accomplished a great deal over the past nine years, but we know there is plenty of work ahead as we continue to ensure the security of our member-owners in the long-term.”

Also during the Board Meeting, the physician chair of each of Conventus’ governance committees reported on their committee’s progress. In all, over 50 physician members and practice managers actively participate in the Exchange’s eight committees, which include Board of Governors Reporting Committees for Claims, Risk Management, Underwriting, Professional Affairs, Nominating, Executive, Audit and Finance, and, in addition, the Practice Management Advisory Council.

About Conventus
Conventus Inter-Insurance Exchange is the only medical professional liability insurance company in New Jersey that is 100% owned and governed by its physician members. Formed in response to New Jersey’s medical professional liability insurance crisis, Conventus is a non-assessable reciprocal insurance exchange that is managed by experts in the property and casualty insurance industry. Its management team has extensive experience in medical professional liability insurance and in managing underwriting results for companies like Conventus.

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