Financial Strength

Condensed Consolidated Financial Report for 2024

Statements of Admitted Assets, Liabilities and Surplus as of	12/31/2024 (in 000’s)	12/31/2023 (in 000’s)
Bonds	$687,905	$601,978
Stocks – Common and Preferred	216,008	189,796
Real Estate	13,031	12,970
Cash and Short-Term Investments	66,143	108,359
Premiums and Agents’ Balances	124,737	122,759
Other Assets	26,749	26,987
Total Admitted Assets	$1,134,573	$1,062,849

Unpaid Losses & Loss Adjustment Expense	$500,003	$413,364
Unearned Premiums	199,472	186,748
Other Liabilities	46,336	45,326
Total Liabilities	745,811	645,438
Total Policyholders’ Surplus	388,762	417,411
Total Liabilities & Surplus	$1,134,573	$1,062,849

Statements of Income for the years ended	12/31/2024 (in 000’s)	12/31/2023 (in 000’s)
Net Premium Earned	$379,145	$338,297
Losses and Loss Adjustment Expenses	336,927	235,633
Other Underwriting Expenses	120,555	115,989
Net Underwriting Gain	(78,337)	(13,325)
Investment Income	35,838	23,876
Other Income / (Expense)	172	375
Income Tax (Expense)	3,021	(4,347)
Net Income (Loss)	$(39,306)	$6,579

AM Best Financial Size IX (Surplus greater than $250 million)