Financial Results

Recap of the previous two years' financial results.

 

Admitted Assets

 

2018

 

2017

Bonds (Amortized Value)   $230,601,148   $213,968,226
Stocks (Market Value)   $163,255,049   $185,086,449
Cash & Short-term investments   $42,369,218   $28,816,087
Premium Balances Receivable   $166,255,412   $146,206,112
Real Estate   $24,820,798   $25,388,644
Other Assets   $72,412,643   $45,438,664
Total Admitted Assets   $699,714,268   $644,904,182
 

Liabilities & Security Fund

       
Reserve for Losses   $156,863,036   $103,070,493
Reserve for Loss Adjustment Expenses   $32,880,629   $27,172,301
Reserve for Unearned Premiums   $206,820,587   $183,658,530
Reserve for Other Expenses   $62,564,902   $64,811,268
Total Liabilities   $459,129,154   $387,712,592
Policyholders' Security Fund   $240,585,114   $266,191,590
Total Liabilities & Security Fund   $699,714,268   $644,904,182
 

Statement of Income

       
Premiums Earned   $393,810,420   $348,900,352
Losses and Loss Expenses Incurred   ($304,913,540)   ($231,637,604)
Underwriting Expenses Incurred   ($129,108,626)   ($116,189,739)
Net Underwriting Gain   ($40,211,746)   $1,073,010
Net Investment Gain   $15,273,166   $8,353,099
Other Income   $1,997,384   $1,838,509
Dividends to Policyholders   ($363,422)   ($368,085)
Federal Income Taxes   $9,185,533   ($2,198,450)
Net Income   ($14,119,085)   $8,698,082

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