Financial Results

Recap of the previous two years' financial results.

 

Admitted Assets

 

2016

 

2015

Bonds (Amortized Value)  
$195,567,578
 
$172,381,664
Stocks (Market Value)  
$161,671,734
 
$125,981,439
Cash & Short-term Investments  
$37,702,121
 
$59,687,791
Premium Balances Receivable  
$133,072,667
 
$125,082,876
Real Estate  
$25,947,824
 
$26,010,710
Other Assets  
$46,746,726
 
$32,891,608
Total Admitted Assets  
$600,708,650
 
$542,036,088
 

Liabilities & Security Fund

       
Reserve for Losses  
$97,949,604
 
$86,985,800
Reserve for Loss Adjustment Expenses  
$25,586,044
 
$22,785,745
Reserve for Unearned Premiums  
$170,730,174
 
$153,988,084
Reserve for Other Expenses   $61,727,644  
$49,210,749
Total Liabilities  
$355,993,466
 
$312,970,378
Policyholders' Security Fund  
$244,715,184
 
$229,065,710
Total Liabilities & Security Fund  
$600,708,650
 
$542,036,088
 

Statement of Income

       
Premiums Earned  
$324,339,595
 
$292,246,452
Losses and Loss Expenses Incurred  
($201,574,190)
 
($178,153,177)
Underwriting Expenses Incurred  
($113,602,790)
 
($98,645,576)
Net Underwriting Gain  
$9,162,615
 
$15,447,699
Net Investment Gain  
$6,453,018
 
$9,399,071
Other Income  
$1,479,533
 
$628,179
Dividends to Policyholders  
($795,084)
 
($4,094,943)
Federal Income Taxes  
($4,051,448)
 
($2,317,026)
Net Income  
$12,248,634
 
$19,062,980

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