Financial Results

Recap of the previous two years' financial results.

 

Admitted Assets

 

2017

 

2016

Bonds (Amortized Value)  
$213,968,226
 
$195,567,578
Stocks (Market Value)  
$185,086,449
 
$161,671,734
Cash & Short-term Investments  
$28,816,087
 
$37,702,121
Premium Balances Receivable  
$146,206,112
 
$133,072,667
Real Estate  
$25,388,644
 
$25,947,824
Other Assets  
$45,438,664
 
$46,746,726
Total Admitted Assets  
$644,904,182
 
$600,708,650
 

Liabilities & Security Fund

       
Reserve for Losses  
$103,070,493
 
$97,949,604
Reserve for Loss Adjustment Expenses  
$27,172,301
 
$25,586,044
Reserve for Unearned Premiums  
$183,658,530
 
$170,730,174
Reserve for Other Expenses   $64,811,268  
$61,727,644
Total Liabilities  
$387,712,592
 
$355,993,466
Policyholders' Security Fund  
$266,191,590
 
$244,715,184
Total Liabilities & Security Fund  
$644,904,182
 
$600,708,650
 

Statement of Income

       
Premiums Earned  
$348,900,352
 
$324,339,595
Losses and Loss Expenses Incurred  
($231,637,604)
 
($201,574,190)
Underwriting Expenses Incurred  
($116,189,739)
 
($113,602,790)
Net Underwriting Gain  
$1,073,010
 
$9,162,615
Net Investment Gain  
$8,353,099
 
$6,453,018
Other Income  
$1,838,509
 
$1,479,533
Dividends to Policyholders  
($368,085)
 
($795,084)
Federal Income Taxes  
($2,198,450)
 
($4,051,448)
Net Income  
$8,698,082
 
$12,248,634

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