GuideOne surplus falls 15% to $389mn in ’22 as combined ratio rises to 108.6%

GuideOne’s underwriting loss swelled to $55mn and the insurer’s combined ratio jumped to 108.6 percent in 2022 as the firm said it was “getting back-to-basics” in its underwriting focus, while its policyholder surplus dropped by $70mn - equal to 15 percent - on the year to $389mn.