A Lot to Celebrate! 2024 Annual Report
April 24, 2025
Being ranked the 8th largest surety in the U.S. is just ONE of the reasons we’re celebrating our performance across 2024! We invite you to explore our 2024 Annual Report for an in-depth look at our ongoing efforts to become the most trusted team in surety for our agents, accounts, and associates.
Explore the 2024 Annual Report
Financial Results
Each of Merchants’ core business areas – contract surety, commercial surety, and specialty solutions, experienced strong, above-forecast growth in 2024. Additionally, the company reached exciting financial milestones:
- Total admitted assets of $552.7 million, surpassing $500 million for the first time
- Surplus exceeded $300 million for the first time
These numbers reflect our common sense underwriting, strategic expansion, and our dedication to providing first class experiences.
Strategic Priorities
Merchants’ leadership maps out strategic priorities every year, designed to support our valued agent partners and associates, and guide the work done across the company. 2024’s priorities were wide-ranging, addressing not only immediate needs but anticipating future demands, enabling Merchants to continue to lead in the industry.
Merchants’ strategic priorities for 2024:
-Underwriting automation - to optimize and streamline processes
-The Hub Express - a platform for faster, easier bond issuance, providing principals with the power to order bonds
-Personalization - to meet the unique needs of agents and accounts
-Agency & staff information management – transitioning systems for improved support
-Associate retention and training – to empower growth
By keeping innovation and service at the forefront, we continue to build on our brand promise of common sense underwriting and first class experiences for our valued partners and associates.
Yes to the Best: Culture & Community Impact
We invite you to explore the full
2024 Annual Report which provides in-depth information about what makes Merchants truly unique – including our one-of-a-kind culture and the impact of the Merchants Bonding Company Foundation. In 2024 Merchants said YES to continuous improvement, driving our positive results as a business, as an employer, and as leaders in the surety industry.