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PURE Insurance Allocates $15 Million Back to Its Membership

September 11, 2018

WHITE PLAINS, N.Y.—September 12, 2018—Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high net worth individuals and families, announced today that $15 million of policyholder surplus has been allocated back to the PURE membership in the form of Subscriber Savings Accounts (SSAs).

“We’re pleased to allocate $15 million to our members’ Subscriber Savings Accounts based on our continued balance sheet growth in 2017,” said Jeff Paraschac, President and Chief Financial Officer of the PURE Group of Insurance Companies. “SSAs are an important demonstration of the unique alignment of interests between PURE and its membership. This brings our cumulative SSA allocation to nearly $60 million since our inception in 2006.”

PURE’s reciprocal (member-owned) structure creates significant capital management advantages, including the usage of SSAs. If capital (often referred to as policyholder surplus) grows in a given calendar year, the difference from the prior year may be allocated to SSAs. Surplus allocated to these accounts remains on PURE’s balance sheet and is available as part of its overall claims-paying ability. By holding a portion of its surplus capital in SSAs, PURE significantly reduces its tax obligation and can therefore grow policyholder surplus in a highly efficient manner. For more information, visit

About PURE

Privilege Underwriters Reciprocal Exchange (PURE) is a policyholder-owned insurer dedicated to creating an exceptional experience for responsible high net worth individuals and families. PURE provides customizable coverage for high-value homes, automobiles, jewelry, art, personal liability, watercraft, flood, fraud and cyber fraud to more than 75,000 responsible, high net worth families throughout the U.S. Inspired by some of the finest policyholder-owned companies, PURE emphasizes alignment of interests and transparency. PURE's low cost of capital, careful member selection and proactive risk management all contribute to highly competitive rates and a Financial Strength Rating of “A” (Excellent) from A.M. Best. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE.

For more information or to find a local broker, visit You can follow PURE on Facebook, Twitter, LinkedIn and Instagram.