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)