A Message from David Demchak, CIRMA President & CEO

45 Years of Progress—And We’re Just Getting Started

Dear Team, Valued Members, and Trusted Partners:

As we stand on the threshold of our 45th anniversary, I can’t help but marvel at the extraordinary journey we’ve traveled together. The theme for this year’s Annual Meeting of Members, Today, Tomorrow, Together, is not just a slogan—it’s the heartbeat of who we are and what we’ve accomplished. This milestone is more than a number. It’s a testament to the resilience, innovation, and collective spirit that have fueled our success and positioned us for a future brimming with possibilities.

Today

The undeniable strength of our balance sheet is a testament to the disciplined approach we’ve maintained in managing risk and opportunity. Our sustained growth has been more than just a reflection of financial strength—it represents the trust our members place in us and the value we deliver day after day. This growth isn’t accidental; it results from disciplined strategies, bold decision-making, and a commitment to building an organization that serves our members’ needs now and for years to come. 

Our members’ equity growth has reached new heights, marking the best results in our history. This proves that we continue to deliver on our promise to serve our members while building a stronger, more resilient community around us. As our investment strategies have been optimized, we’ve ensured that every dollar works harder to support our operations, setting us up for sustainable success.

Our operational achievements are equally significant. We’ve underpinned our financial standing to strategically support CIRMA’s mission and operations. Our teams have worked tirelessly to support our core strategic initiatives, streamline processes, enhance service delivery, and ensure we move forward with innovation and agility.

In addition to the many accomplishments featured within this Annual Report, the following notable outcomes represent our recent sustained shared successes. 

Over the last five years: 

• Total Assets have grown by over $52M
• Members’ Equity has grown by over $63M
• Almost $14M in Members’ Equity was distributed over the last five years, with nearly $44M approved for distribution over the last fourteen years
• Approximately $158M in medical cost savings have been achieved through CIRMA-managed care programs
• The average rate need was -2.7% for workers’ compensation and 0.4% for liability-auto-property lines of businesses
• 183,100 public-entity employees and volunteers participated in CIRMA training

Tomorrow

The future? It’s calling, and we’re ready to answer. We are not content with standing still. I am confident in our ability to navigate the complexities of the future with the same focus and determination that have brought us here today. We’re committed to driving innovation, pushing boundaries, and adapting to meet the ever-evolving needs of our members. Our investments today pave the way for tomorrow’s breakthroughs, ensuring we remain at the forefront of our industry.

We’ve weathered storms, faced challenges head-on, and emerged stronger—always. As we look forward, we confidently embrace the unknown because we know our foundation is rock-solid. 

The future is bright, and together, we will shape it.

Together

Together, we’ve built something special. Our journey—our success story—has been a team effort. The entire CIRMA community, from our dedicated staff to our loyal members and invaluable partners, has played a role in making this remarkable narrative possible. Together, we have built something that transcends optimal financial or operation outcomes—a community of trust, a beacon of excellence.

As we celebrate this 45-year milestone, we’re not just reflecting on the past. We’re forging ahead, excited for what comes next because this isn’t the finish line—it’s the springboard for even more outstanding achievements. 

CIRMA has continued to demonstrate the holistic value we bring to our members. Our sustained performance is a clear testament to the strength of our balance sheet and the disciplined approach we’ve maintained in managing risk and opportunity while demonstrating a relentless commitment to our members. Thank you for your unwavering dedication, trust, and partnership.

With immense gratitude and anticipation,

David Demchak, ARM, CIRMA President and Chief Executive Officer