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View Our Annual Statement

Financial Strength: Built on Trust, Shared with Transparency

 

We know that financial strength is more than just a number—it’s a reflection of our commitment to stability, transparency, and long-term trust. Assigned to insurance companies that have a superior ability to meet their ongoing insurance obligations, we currently hold an A+ Financial Strength Rating with AM Best.

Blue APlusSuperior

Each year, we share our financial results to ensure our policyholders, partners agents, and employees have clear insight into our performance. You can view our most recent annual results below.

Assets, Liabilities & Surplus


Assets202420232022
Cash and Short-Term Securities$7,031,525$1,840,827($2,129,578)
Bonds (Amortized Cost)128,952,274131,417,504150,847,258
Stocks (Market Value)3,552,9173,540,54711,005,747
Other Invested Assets013,2293,746,868
Mortgage Loans8,974,4407,272,4813,197,609
Real Estate02,247,1233,546,050
Accrued Investment Income708,201741,005753,472
Premium Balances23,701,98023,668,96124,285,334
Company Owned Life Insurance7,263,2806,672,6845,957,101
Deferred Taxes/Taxes Receivable5,398,7023,209,19410,718,153
Loss Recoverable from Reinsurers989,2851,445,4811,889,558
Computer Hardware41,74173,978115,076
Total Assets$186,614,345$182,143,014$213,932,648

Liabilities & Surplus202420232022
Reserves for Losses & Adjusting Expenses$69,344,775$74,001,634$71,989,793
Reserve for Unearned Premiums60,485,71762,312,16267,021,344
Reserve for General Expenses4,851,5764,799,9786,292,841
Reserve for Premiums Paid in Advance2,493,3672,269,0842,460,422
Reinsurance Payable587,653784,0542,002,018
Reserve for Federal Income Taxes0
0
0
Reserve for Pension Benefits615,4271,985,8592,476,697
Reserve for Other Liabilities741,993615,1311,347,677
Policyholder Surplus47,493,83735,375,11260,341,856
Total Liabilities & Surplus$186,614,345$182,143,014$213,932,648


Statement of Income


202420232022
Premiums Written$137,306,981$147,180,616$154,845,895
Change in Unearned Premiums1,826,4454,709,181(8,497,801)
Reinsurance Ceded(15,305,302)(20,858,576)(29,115,157)
Premiums Earned$123,828,124$131,031,221$117,232,937
Losses Incurred$73,193,887$106,628,581$106,227,450
Loss Adjusting Expenses Incurred11,691,21812,819,72711,466,006
Underwriting Expenses Incurred34,662,98037,553,74234,362,844
Underwriting Gain (Loss)4,280,039
(25,970,829)
($34,823,363)
Net Investment Income$3,297,583$4,552,160$3,046,937
Other Income831,223950,832(635,084)
Dividends to Policyholders(152,397)(183,900)(162,952)
Federal Income Taxes(9,894)(647,957)(2,629,097)
Net Gain (Loss)8,266,342
($20,003,780)
($29,945,365)
Net Premium/Surplus Ratio2.573.572.10
Percentage Growth in Premiums Written-6.71%-4.95%8.96%