Financial Results

Recap of the previous two years' financial results.

 

Admitted Assets

 

2022

 

2021

Bonds (Amortized Value)   $459,012,467   $381,518,770
Stocks (Market Value)   $148,373,883   $212,320,683
Cash & Short-term investments   $42,785,274   $59,342,626
Premium Balances Receivable   $247,172,413   $213,350,314
Real Estate   $43,052,855   $44,092,555
Other Assets   $148,107,124   $89,735,981
Total Admitted Assets   $1,088,504,016   $1,000,360,929
 

Liabilities & Surplus

       
Reserve for Losses   $271,942,970   $239,202,764
Reserve for Loss Adjustment Expenses   $59,397,758   $49,034,170
Reserve for Unearned Premiums   $298,423,187   $267,192,091
Reserve for Other Expenses   $136,442,648   $120,504,429
Total Liabilities   $766,206,564   $675,933,454
Policyholders' Surplus   $322,297,452   $324,427,475
Total Liabilities & Surplus   $1,088,504,016   $1,000,360,929
 

Statement of Income

       
Premiums Earned   $580,996,156   $518,033,965
Losses and Loss Expenses Incurred   ($411,888,369)   ($347,718,236)
Underwriting Expenses Incurred   ($197,040,306)   ($180,975,882)
Net Underwriting Gain   ($27,932,519)   ($10,660,153)
Net Investment Gain   $26,100,643   $21,835,896
Other Income   $998,163   $1,971,272
Dividends to Policyholders   ($889,537)   ($1,938,722)
Federal Income Taxes   $1,875,512   $324,796
Net Income   $152,263   $11,533,089

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