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2006 Financial Statement
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ASSETS |
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12/31/07 |
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12/31/06 |
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| Cash & Short Term Investments |
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$34.062,255 |
|
$52,059,729 |
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| Bonds (Amortized Value) |
|
518,493,304 |
|
485,772,597 |
|
| Stocks (Market Value) |
|
598,054,426 |
|
605.474,853 |
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| Real Estate (Home Office) |
|
12,665,018 |
|
13,233,666 |
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| Other Invested Assets |
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23,752,332 |
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24,922,119 |
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| Premiums Receivables |
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42,449,267 |
|
52,693,170 |
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| Accrued Interest & Dividends |
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7,473,166 |
|
6,239,866 |
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| Other Assets |
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42,557,025 |
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17,445,169 |
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| Total Assets |
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$1,279,506,793 |
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$1,257,841,169 |
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LIABILITIES & SURPLUS |
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12/31/07 |
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12/31/06 |
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|
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| Unearned Premiums |
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$155,011,762 |
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$173,927,779 |
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| Unpaid Losses & Loss Adjustment Expenses |
|
227,846,295 |
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237,899,875 |
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| Federal Income Taxes |
|
79,299,532 |
|
86,871,255 |
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| Other Liabilities |
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57,756,682 |
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37,248,542 |
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| Total Liabilities |
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$519,914,271 |
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$535,947,451 |
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| Policyholders' Surplus |
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$759,592,522 |
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$721,893,718 |
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| Total Liabilities & Surplus |
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$1,279,506,793 |
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$1,257,841,169 |
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| 2006 Statement of Income
and Surplus |
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INCOME |
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12/31/07 |
|
12/31/06 |
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|
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| Underwriting Income |
| Premiums Earned |
|
$296,321,203 |
|
$327,667,523 |
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| Losses Incurred |
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147,894,513 |
|
154,654,234 |
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| Loss Adjustment Expenses Incurred |
|
25,854,949 |
|
29,178,929 |
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| Underwriting Expenses Incurred |
|
107,046,428 |
|
113,654,998 |
| |
| Underwriting Gain |
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$15,525,314 |
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$30,179,362 |
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| Investment Income |
| Net Investment Income |
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27,698,261 |
|
26,291,2091 |
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| Net Realized Capital Gains |
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11,050,752 |
|
13,490,930 |
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| Total Investment Income |
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$ 38,749,013 |
|
$ 39,782,139 |
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| Other Income |
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$1,878,731 |
|
$1,731,206 |
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| Net Income Before Taxes |
|
56,153,058 |
|
71,692,707 |
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| Federal Income Taxes |
|
17,006,168 |
|
22,318,858 |
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| Net Income After Taxes |
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$39,146,890 |
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$49,373,849 |
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| SURPLUS |
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| Beginning Balance |
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$721,893,718 |
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$633,840,580 |
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| Net Income |
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39,146,890 |
|
49,373,849 |
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| Unrealized Capital Gains (Losses) After
Taxes |
|
(1,502,583) |
|
39,127,406 |
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| (Decrease) in Net Deferred Income Taxes |
|
1,098,959 |
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(1,664,126) |
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| Other Changes |
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(1,044,462) |
|
1,216,009 |
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| Increase for Period |
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37,698,804 |
|
88,053,138 |
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| Ending Balance |
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$759,592,522 |
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$721,893,718 |
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