Financials

 

Condensed Consolidated Financial Exhibits

Balance Sheet as of 12/31   2009
(in 000's)		   2008
(in 000's)
 
Cash and Short-Term Investments $20,136   $15,955
Long Term Bonds 204,962   202,143
Stocks 65,895   44,828
Real Estate 2,979   2,885
Premium Balances Less Reinsurance 28,630   27,268
Accrued Interest and Dividends 2,489   2,447
Other Assets 1,635   7,559
 
  Total Assets $326,726   $303,085
 
Unpaid Loss & Loss Adjustment Expense Reserve $115,708   $116,117
Unearned Premiums 52,385   49,913
Reinsurance Balances Payable 1,821   2,126
Underwriting Expenses and Tax Reserves 13,320   12,152
Other Liabilities 887   814
 
  Total Liabilities $184,121   $181,122
 
  Total Policyholders' Surplus $142,605   $121,963
 
  Total Liabilities & Policyholders' Surplus $326,726   $303,085
 
 
Underwriting Exhibit   2009
(in 000's)		   2008
(in 000's)
 
Direct Premium Written $108,242   $105,153
Net Premium Written 95,383   90,881  
Net Premium Earned 92,702   91,793
Net Losses Incurred 41,916   39,689
Net Loss Adjustment Expenses Incurred 8,802   8,435
Underwriting Expenses Incurred 34,923   34,013
Dividends to Policyholders 818   1,014
Net Gain from Underwriting $6,243   $8,643
 
Combined Ratio 92.2   90.9
Operating Ratio 83.3   81.4
 
 
Investment Exhibit   2009
(in 000's)		   2008
(in 000's)
 
Ordinary Investment Income $8,258   $8,731
Realized Capital (Loss) Gain 1,966   (2,694)
Unrealized Capital Loss Net of Deferred Tax 9,701   (12,561)
 
  Total (Loss) Gain on Investments $19,925   ($6,524)
 
 
Net Income   2009
(in 000's)		   2008
(in 000's)
 
Net Income after Federal Income Tax $12,231   $10,297
 
 

 
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