Financial Results

Recap of the previous two years' financial results.

 

Admitted Assets

 

2021

 

2020

Bonds (Amortized Value)   $381,518,770   $365,722,648
Stocks (Market Value)   $212,320,683   $180,477,837
Cash & Short-term investments   $59,342,626   $17,912,475
Premium Balances Receivable   $213,350,314   $195,676,418
Real Estate   $44,092,555   $42,683,113
Other Assets   $89,735,981   $77,224,020
Total Admitted Assets   $1,000,360,929   $879,696,512
 

Liabilities & Surplus

       
Reserve for Losses   $239,202,764   $191,016,575
Reserve for Loss Adjustment Expenses   $49,034,170   $42,906,383
Reserve for Unearned Premiums   $267,192,091   $240,542,939
Reserve for Other Expenses   $120,504,429   $107,659,681
Total Liabilities   $675,933,454   $582,125,577
Policyholders' Surplus   $324,427,475   $297,570,935
Total Liabilities & Surplus   $1,000,360,929   $879,696,512
 

Statement of Income

       
Premiums Earned   $518,033,965   $477,868,108
Losses and Loss Expenses Incurred   ($347,718,236)   ($323,102,970)
Underwriting Expenses Incurred   ($180,975,883)   ($164,880,656)
Net Underwriting Gain   ($10,660,153)   ($10,115,517)
Net Investment Gain   $21,835,896   $11,495,432
Other Income   $1,971,272   $2,250,160
Dividends to Policyholders   ($1,938,722)   ($1,363,006)
Federal Income Taxes   $324,796   $1,006,877
Net Income   $11,533,089   $3,273,948

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