CIRMA Returns $5M to Members: A Powerful Surplus of Purpose and Performance

Nearly $49 Million in Equity Returned Over 15 Years

In a bold demonstration of its financial strength and unwavering commitment to the public good, Connecticut Interlocal Risk Management Agency (CIRMA) is distributing $5 million in equity to Connecticut cities, towns, public schools, and local public agencies. With this latest distribution, CIRMA has returned nearly $49 million to its members over the past 15 years.

In an insurance industry where profits typically flow to shareholders, CIRMA stands apart. As a dedicated member-owned and -governed organization, CIRMA’s success flows directly back to the communities it serves.

“This is not just a distribution of surplus — it’s a return on trust,” said David Demchak, President and CEO of CIRMA.“It reflects a legacy of disciplined financial management, a deep sense of responsibility to our members, and a strategic vision focused on shared success. When CIRMA thrives, our communities thrive.”

CIRMA’s Members’ Equity Distribution program is one of many tangible ways the organization fulfills its mission. Whether members use their funds to enhance cyber-security, upgrade public infrastructure, or invest in frontline safety, the impact is real and intensely local.

“This program exemplifies what makes CIRMA exceptional,” said Carl Fortuna, First Selectman of Old Saybrook and Chairman of the CIRMA Board of Directors. “In an era of rising costs and shrinking municipal budgets, these distributions are more than financial relief; these funds reaffirm CIRMA’s commitment to strengthening local government. As a member myself, I can say this support truly matters.”

Amid complex risks and volatile markets, CIRMA continues to deliver top-tier financial results, striking a strong balance between stability, growth, and member value. Its long-standing public-purpose insurance and risk management model demonstrates that strong financial outcomes and community outcomes can, and should, go hand in hand.