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Financial Statement



2016 Financial Statement

Statement of Income

2016 Statement Of Income 2016 2015
Premiums earned 58,963,636 55,807,164
Loss and Loss Adjustment 27,795,293 26,796,119
Underwriting expense 21,358,199 20,761,785
Net underwriting gain (loss) 9,810,144 8,249,260
     
Net investment Income 3,319,535 3,432,291
Net realized capital gains (losses) less tax 600,601 414,553
Net investment gain (loss) 3,920,136 3,846,844
     
Other Income 1,126,025 1,009,414
     
Net Income Before Federal Income Tax 14,856,305 13,105,518
Less: Federal Income Tax 4,646,514 4,347,945
Net Income 10,209,791 8,757,573
     
Combined Ratio 82.7% 83.9%
Direct Written Premium 65,470,335 62,685,524

2016 Financial Statement

Statement of Assets & Liabilities

Assets 2016 2015
Cash and Short-term Investments 9,149,261 8,812,282
Bonds 123,546,669 112,422,135
Stocks 21,677,991 16,430,019
Real Estate 1,249,657 1,276,602
Premiums in the course of Collection 7,346,485 7,164,811
Interest Due and Accrued 1,201,138 1,179,926
All other assets 16,622,951 16,321,671
Total Admitted Assets 180,794,152 163,607,446
     
Liabilities    
Unearned Premium 34,602,106  33,456,297
Reserve for Losses 21,203,057 19,206,747
Reserve for Loss Adjustment Expense 4,211,508 3,837,874
All other Liabilities 9,580,437 8,737,312
     
Total Liabilities 69,597,108 65,238,230
     
 Surplus Accounts    
 Special Contingent Surplus 900,000  900,000
 Unassigned Surplus 110,297,044  97,469,216
     
  Policyholders Surplus 111,197,044  98,369,216
     
Total Liability and Surplus  180,794,152  163,607,446

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