A Message from David Demchak, CIRMA President and CEO

Built on Trust. Shaped by Strength.

Dear Valued CIRMA Community: 

In an era marked by economic uncertainty, evolving risks, and rapid change, trust and strength remain central to our mission. Across the public sector, organizations face new challenges, including rising costs, workforce transitions, climate-related events, and a shifting regulatory environment. Throughout it all, CIRMA remains a steady, dependable, and resilient partner that our members can rely on to deliver unmatched products, services, stability, and expertise.

As CIRMA enters its 46th year, we do so with pride in our progress and confidence in our future. Our story is one of consistency and reliability, a history rooted in trust and shaped by strength. These qualities have defined CIRMA since its inception and continue to guide how we serve our members, manage risk, and safeguard our communities across Connecticut. CIRMA’s success has never been the result of chance; it has been mindfully constructed through decades of sound governance, disciplined strategy, and an unwavering focus on member needs.

Built on Trust.

Trust is more than a principle at CIRMA; it’s a promise. It’s the assurance that no matter what challenges emerge, our members can count on us to deliver financial strength, steady guidance, and dependable service. This trust has been the cornerstone of CIRMA’s enduring success. 

Our long-standing reputation as a trusted partner is built on a disciplined approach to risk management and operational excellence. Even amid market fluctuations, evolving regulations, and shifting economic conditions, CIRMA’s foundation has remained strong. We have continued to deliver results that demonstrate not only long-term financial health but also sustained organizational resilience. Every decision we make, from strategic investments to service and product enhancements, is guided by the responsibility to serve our members’ best interests. Through prudent stewardship and careful planning, we ensure that CIRMA remains a model of stability in an ever-changing landscape.

Our trust also stems from the dedication of our people. Every CIRMA team member brings expertise, passion, and a deep commitment to serving our members. Their professionalism and care are what transform numbers into value and plans into progress. They embody what it means to be dependable every day. 

Shaped by Strength.

If trust is our foundation, strength is our hallmark. CIRMA’s strength is not defined by numbers alone; it is reflected in the relationships we build, the challenges we overcome, and the innovations we bring forward together. We have consistently shown that our strength is in unity, with our mission aligned with the goals of our members and partners.Through shared resolve, we have not only faced uncertainty but emerged stronger, wiser, and more capable.

This year, our financial and operational results once again confirm that CIRMA’s foundation is solid and our direction remains steady. They serve as a testament to our disciplined approach and our ability to turn challenges into opportunities. Along with the many achievements highlighted in this Annual Report, the following notable outcomes reflect our recent ongoing shared successes.

Over the last five years:

• Total Assets have grown by almost $26M
• Members’ Equity has grown by over $37M
• Almost $14M in Members’ Equity was distributed over the last five years, with nearly $49M approved for distribution in the previous fifteen years
• Over $128M in medical cost savings have been achieved through CIRMA-managed care programs
• The average rate need was -2.66% for workers’ compensation and 1.96% for liability-auto-property 
• 222,674 public-entity employees and volunteers participated in CIRMA training

Each of these outcomes tells a story, a story of collaboration, foresight, and focus. They reflect the soundness of our financial position, as well as the value we deliver through education, advocacy, innovation, and service. These results underscore the strength of the CIRMA model, which prioritizes long-term sustainability over short-term gains and partnership over profit.

Rooted in Stability, Moving Forward Together.

As we look to the future, one truth remains clear: CIRMA’s greatest strength has always been our dedicated staff, our engaged members, and our trusted business partners. Together, we form a community united by shared values and a common purpose: to protect, support, and empower Connecticut’s public entities.

The world around us continues to change, from new risks to evolving economic and environmental landscapes. Still, CIRMA’s approach stays steady and proactive. We are investing in new technologies, expanding our services, and strengthening our relationships to ensure our members have the tools, data, and insights needed to face the future confidently. CIRMA’s ability to adapt is rooted in the strength of our history and the clarity of our vision. As we enter this new chapter, our focus remains steady: to build on what we have achieved, to innovate where possible, and to continue earning the trust that defines us.

Our legacy is not just written in the pages of our history but renewed each year through the meaningful impact we make for our members. Together, we will continue to shape the future of risk management, one grounded in trust, strengthened by partnership, and powered by collective strength. 

Thank you for your continued partnership and belief in what we stand for.

With deep appreciation,

David Demchak, ARM, CIRMA President and Chief Executive Officer