Financial Results

Recap of the previous two years' financial results.

 

Admitted Assets

 

2020

 

2019

Bonds (Amortized Value)   $365,722,648   $295,019,160
Stocks (Market Value)   $180,477,837   $193,660,420
Cash & Short-term investments   $17,912,475   $30,179,219
Premium Balances Receivable   $195,676,418   $179,689,087
Real Estate   $42,683,113   $28,026,702
Other Assets   $77,224,021   $69,829,450
Total Admitted Assets   $879,696,512   $796,404,038
 

Liabilities & Surplus

       
Reserve for Losses   $191,016,575   $172,300,278
Reserve for Loss Adjustment Expenses   $42,906,383   $39,913,873
Reserve for Unearned Premiums   $240,542,939   $224,048,556
Reserve for Other Expenses   $107,659,680   $79,735,801
Total Liabilities   $582,125,577   $515,998,508
Policyholders' Surplus   $297,570,935   $280,405,530
Total Liabilities & Surplus   $879,696,512   $796,404,038
 

Statement of Income

       
Premiums Earned   $477,868,108   $445,142,490
Losses and Loss Expenses Incurred   ($323,102,969)   ($278,608,459)
Underwriting Expenses Incurred   ($164,880,656)   ($156,249,071)
Net Underwriting Gain   ($10,115,517)   $10,284,960
Net Investment Gain   $11,495,434   $11,853,827
Other Income   $2,250,160   $2,216,277
Dividends to Policyholders   ($1,363,006)   ($765,752)
Federal Income Taxes   $1,006,877   ($4,800,290)
Net Income   $3,273,948   $18,789,022

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