Financial Results

Recap of the previous two years' financial results.

 

Admitted Assets

 

2019

 

2018

Bonds (Amortized Value)   $295,019,160   $230,601,148
Stocks (Market Value)   $193,660,420   $163,255,0499
Cash & Short-term investments   $30,179,219   $42,369,218
Premium Balances Receivable   $179,689,087   $166,255,412
Real Estate   $28,026,702   $24,820,798
Other Assets   $69,829,450   $72,412,643
Total Admitted Assets   $796,404,038   $699,714,268
 

Liabilities & Security Fund

       
Reserve for Losses   $172,300,278   $156,863,036
Reserve for Loss Adjustment Expenses   $39,913,873   $32,880,629
Reserve for Unearned Premiums   $224,048,556   $206,820,587
Reserve for Other Expenses   $79,735,801   $62,564,902
Total Liabilities   $515,998,508   $459,129,154
Policyholders' Security Fund   $280,405,530   $240,585,114
Total Liabilities & Security Fund   $796,404,038   $699,714,268
 

Statement of Income

       
Premiums Earned   $445,142,490   $393,810,420
Losses and Loss Expenses Incurred   ($278,608,459)   ($304,913,540)
Underwriting Expenses Incurred   ($156,249,071)   ($129,108,626)
Net Underwriting Gain   $10,284,960   ($40,211,746)
Net Investment Gain   $11,853,827   $15,273,166
Other Income   $2,216,277   $1,997,384
Dividends to Policyholders   ($765,751)   ($363,422)
Federal Income Taxes   ($4,800,290)   $9,185,533
Net Income   $18,789,022   ($14,119,085)

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