REINSURANCE ASSOCIATION OF AMERICA

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

FRANKLIN W NUTTER

Phone

2026383690

Tax Period

2024-01-01 to 2024-12-31

REINSURANCE ASSOCIATION OF AMERICA, founded in 1969, is a mid-sized nonprofit that reported $11.3M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $10.9M left a modest 4% surplus.

Mission

THE PURPOSES OF REINSURANCE ASSOCIATION OF AMERICA ARE TO ASSIST MEMBERS IN PROTECTING THE INTERESTS OF THE INDUSTRY; TO ACT AS THE INDUSTRY REPRESENTATIVE BEFORE CONGRESS, FEDERAL AND STATE REGULATORY AND ADMINISTRATIVE BODIES AND COMMISSIONS, AND THE PUBLIC; AND TO ASSIST REINSURERS IN PROVIDING COVERAGE AND SERVICE RESPONSIVE TO THE EVOLVING NEEDS OF PRIMARY INSURERS AND THE PUBLIC BY COLLECTING AND DISSEMINATING INFORMATION AND BY PROVIDING A FORUM FOR THE DISCUSSION AND CONSIDERATION OF THIS INFORMATION.

Program Service Accomplishments

Program 1

TESTIMONY - ON BEHALF OF THE MEMBERSHIP, STAFF PREPARE AND GIVE TESTIMONY TO FEDERAL AND STATE LEGISLATIVE BODIES, CONGRESSIONAL COMMITTEES AND SUBCOMMITTEES. STAFF ALSO ATTEND INDUSTRY WIDE MEETINGS AND CONFERENCES PERTAINING TO ISSUES OF CONCERN TO PROPERTY/CASUALTY AND LIFE REINSURERS AND PRIMARY INSURERS.

Program 2

STATISTICAL STUDIES AND EDUCATION PROGRAMS - STAFF CONDUCTS EDUCATIONAL SEMINARS PERTAINING TO REINSURANCE AND PREPARES STATISTICAL STUDIES RELATED TO REINSURANCE VOLUME AND LOSSES VERSUS EXPENSES IN POLICY HOLDER SURPLUS. THESE SEMINARS AND STUDIES ARE MADE AVAILABLE TO THE INDUSTRY AND ALL INTERESTED PARTIES.

Program 3

LOBBYING - OUTSIDE SERVICES ARE OBTAINED TO LOBBY ON BEHALF OF THE ASSOCIATION AND ITS MEMBERS IN AREAS SUCH AS FINANCIAL SERVICES LEGISLATION, ENVIRONMENTAL LEGISLATION AND AMICUS BRIEF FILINGS...

LOBBYING - OUTSIDE SERVICES ARE OBTAINED TO LOBBY ON BEHALF OF THE ASSOCIATION AND ITS MEMBERS IN AREAS SUCH AS FINANCIAL SERVICES LEGISLATION, ENVIRONMENTAL LEGISLATION AND AMICUS BRIEF FILINGS. OUTSIDE SERVICES ARE ALSO OBTAINED FOR ADVICE AND WORK PERFORMED ON ACTUARIAL SERVICES IN RELATION TO THE ASSOCIATION'S STATISTICAL STUDIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,356,218

Investment Income $814,062

Other Revenue $127,957

TOTAL REVENUE $11,298,237

Expense Breakdown

Grants Paid $60,000

Salaries & Benefits $7,169,358

Fundraising Expenses $0

Other Expenses $3,640,730

TOTAL EXPENSES $10,870,088

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,298,237	$10,224,355	+0.1%
Expenses	$10,870,088	$10,863,933	+0.0%
Net Income	$428,149	$-639,578	-1.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,656,595

Total Directors

Key Employees

$1,887,746

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM WILLIAMSON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JONATHAN COLELLO	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
NIC BERG	SECRETARY-TREASURER	1.00	Officer Director	$0	$0	$0
STEVE AGOSTA	DIRECTOR (AUG TO NOV '24)	1.00	Director	$0	$0	$0
DONALD BAHR	DIRECTOR	1.00	Director	$0	$0	$0
TIM BARBER	DIRECTOR	1.00	Director	$0	$0	$0
KIM BARNETT	DIRECTOR (FROM MAY '24)	1.00	Director	$0	$0	$0
H CLAY BASSETT	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BENDER	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW BERNSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN BOORNAZIAN	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW BORIS	DIRECTOR	1.00	Director	$0	$0	$0
KEN BRANDT	DIRECTOR	1.00	Director	$0	$0	$0
J ROBERT BREDAHL	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER BUSE	DIRECTOR (TO NOV '24)	1.00	Director	$0	$0	$0
JASON BUSTI	DIRECTOR	1.00	Director	$0	$0	$0
JEFFREY CLEMENTS	DIRECTOR	1.00	Director	$0	$0	$0
NATHAN COLSON	DIRECTOR	1.00	Director	$0	$0	$0
LIZ CUNNINGHAM	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE W DEMENOCAL	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER DONELAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTIAN DUNLEAVY	DIRECTOR (TO JAN '24)	1.00	Director	$0	$0	$0
JEAN-PAUL DYER	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY GARDNER	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES GOLDIE	DIRECTOR	1.00	Director	$0	$0	$0
SIMON HEDLEY	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN KEITH	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT KREUZER	DIRECTOR (FROM JAN '24)	1.00	Director	$0	$0	$0
RYAN MATHER	DIRECTOR	1.00	Director	$0	$0	$0
JUSTIN O'KEEFE	DIRECTOR	1.00	Director	$0	$0	$0
MATT PASKIN	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN REARDON	DIRECTOR	1.00	Director	$0	$0	$0
GREG RICHARDSON	DIRECTOR (FROM MAR '24)	1.00	Director	$0	$0	$0
PHILIP SANDERCOX	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY SCHIFFER	DIRECTOR (FROM NOV '24)	1.00	Director	$0	$0	$0
JON SCHRIBER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SIGMON	DIRECTOR (TO MAR '24)	1.00	Director	$0	$0	$0
ANDREW SMITH	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD TAYLOR	DIRECTOR (FROM DEC '24)	1.00	Director	$0	$0	$0
ALEXANDER VAN DIJK	DIRECTOR	1.00	Director	$0	$0	$0
NATHANIEL WALLMAN	DIRECTOR	1.00	Director	$0	$0	$0
JAMES WIXTEAD	DIRECTOR	1.00	Director	$0	$0	$0
MARCUS WINTER	DIRECTOR	1.00	Director	$0	$0	$0
PAUL WOLLMANN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN YOUNG	DIRECTOR	1.00	Director	$0	$0	$0
J LEE COVINGTON II	PRESIDENT (TO OCT '24)	40.00	Officer	$1,246,285	$87,056	$1,333,341
FRANKLIN W NUTTER	PRESIDENT	40.00	Officer	$272,639	$50,615	$323,254
MARSHA A COHEN	SENIOR VICE PRESIDENT	40.00	Key Emp	$443,732	$79,966	$523,698
NICOLE C AUSTIN	SENIOR VICE PRESIDENT	40.00	Key Emp	$418,784	$53,507	$472,291
KARALEE C MORELL	SENIOR VICE PRESIDENT	40.00	Key Emp	$412,721	$70,720	$483,441
JOSEPH B SIEVERLING	SENIOR VICE PRESIDENT (TO APR '24)	40.00	Key Emp	$376,166	$32,150	$408,316
WARREN S WILLIAMSON	VICE PRESIDENT	40.00	Highest	$385,378	$65,206	$450,584
DENNIS C BURKE	VICE PRESIDENT	40.00	Highest	$287,497	$77,446	$364,943
RAHEL WILLIS	DIR. OF FINANCE & BUSINESS	40.00	Highest	$233,744	$65,307	$299,051
JOSEPH C SHUE	VICE PRESIDENT	40.00	Highest	$230,530	$81,562	$312,092
PAUL MARTIN	VICE PRESIDENT	40.00	Highest	$192,508	$55,089	$247,597

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$11,298,237	$10,870,088	$11,381,241	$428,149
2023	$10,224,355	$10,863,933	$11,570,717	$-639,578
2022	$9,554,790	$8,970,734	$11,772,489	$584,056
2021	$8,536,934	$8,696,699	$8,490,929	$-159,765
2020	$9,042,551	$8,840,207	$8,006,193	$202,344
2019	$9,209,961	$9,132,166	$7,443,621	$77,795
2018	$9,223,369	$8,366,990	$6,448,103	$856,379