Western Financial Group Sets 2010 Goals

Western Financial Group officials won’t release the group’s 2009 financial results until mid-March, but they are open about where they want be at this time next year. The insurance provider has set its sights on higher sales and net income in the $20 million range, according to CEO Scott Tannas, who shared the following objectives in a February 5 statement:

1. Network Same Store Sales: 4%-7%
2. Network Operating Margin: 28%
3. Bank West Specific Provision: 75 BPS or less
4. SecuriCan Loss Ratio: 55% or less
5. Western Life Loss Ratio: 45% or less
6. Overall 2010 Net Income: $18.5-20 Million

"We are cautiously optimistic about 2010. While signs of growth have been emerging in many communities, we still see areas of the West that are not yet moving forward,” Tannas said. “Therefore, we believe that same store sales growth in 2010 will be modest at the Network. We expect a good year ahead for Western Life in top and bottom line growth.”

Western Financial will release its 2009 results March 15.