Financial Strength

Condensed Consolidated Statutory Financial Report for 2021

Statements of Admitted Assets, Liabilities and Surplus as of	12/31/2022 (in 000’s)	12/31/2021 (in 000’s)
Bonds	$425,259	$388,607
Common and Preferred Stocks	163,877	181,272
Real Estate	11,936	10,961
Cash and Short-Term Investments	54,123	59,377
Premiums and Agents’ Balances	91,849	81,984
Other Assets	17,059	9,200
Total Admitted Assets	$764,099	$731,401

Unpaid Losses & Loss Adjustment Expense	$270,497	$193,549
Unearned Premiums	141,637	126,957
Other Liabilities	31,760	45,618
Total Liabilities	443,895	366,124
Total Policyholders’ Surplus	320,204	365,277
Total Liabilities & Surplus	$764,099	$731,401

Statements of Income for the years ended	12/31/2022 (in 000’s)	12/31/2021 (in 000’s)
Net Premium Earned	$260,667	$234,188
Losses and Loss Adjustment Expenses	223,102	134,546
Other Underwriting Expenses	86,731	84,254
Net Underwriting Gain	(49,165)	15,388
Investment Income	17,566	22,054
Other Income	526	497
Income Tax (Expense)	(5524)	(7,194)
Net Income (Loss)	($25,548)	$30,745

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