 |
|
|
2010 Financial Statement
|
|
|
ASSETS |
|
12/31/10 |
|
12/31/09 |
|
|
|
| Cash & Short Term Investments |
|
$45,173,461 |
|
$53,813,393 |
|
| Bonds (Amortized Value) |
|
516,893,196 |
|
481,377,052 |
|
| Stocks (Market Value) |
|
533,606,297 |
|
504,404,235 |
|
| Real Estate (Home Office) |
|
11,008,707 |
|
10,916,532 |
|
| Other Invested Assets |
|
26,427,242 |
|
26,445,071 |
|
| Premiums Receivables |
|
46,009,114 |
|
40,003,226 |
|
| Accrued Interest & Dividends |
|
6,002,127 |
|
5,800,867 |
|
| Other Assets |
|
45,456,201 |
|
43,814,055 |
|
| Total Assets |
|
$1,230,576,345 |
|
$1,166,574,431 |
|
|
|
|
|
LIABILITIES & SURPLUS |
|
12/31/10 |
|
12/31/09 |
|
|
|
| Unearned Premiums |
|
$135,291,511 |
|
$146,010,524 |
|
| Unpaid Losses & Loss Adjustment Expenses |
|
198,688,368 |
|
201,712,827 |
|
| Federal Income Taxes |
|
62,320,819 |
|
52,359,149 |
|
| Other Liabilities |
|
55,907,182 |
|
56,471,265 |
|
| Total Liabilities |
|
$452,207,880 |
|
$456,553,765 |
|
| Policyholders' Surplus |
|
$778,368,465 |
|
$710,020,666 |
|
| Total Liabilities & Surplus |
|
$1,230,576,345 |
|
$1,166,574,431 |
|
|
| 2010 Statement of Income
and Surplus |
|
|
|
|
INCOME |
|
12/31/10 |
|
12/31/09 |
|
|
|
| Underwriting Income |
| Premiums Earned |
|
$277,130,064 |
|
$268,535,380 |
|
| Losses Incurred |
|
152,015,410 |
|
148,858,828 |
|
| Loss Adjustment Expenses Incurred |
|
26,982,345 |
|
23,232,454 |
|
| Underwriting Expenses Incurred |
|
99,305,105 |
|
100,083,621 |
| |
| Underwriting Loss |
|
($1,172,796) |
|
($3,639,523) |
| |
| Investment Income |
| Net Investment Income |
|
27,812,217 |
|
28,025,822 |
|
| Net Realized Capital Gains |
|
25,507,013 |
|
31,184,700 |
|
| Total Investment Income |
|
$ 53,319,230 |
|
$59,210,522 |
|
| Other Income |
|
$1,804,555 |
|
$2,141,195 |
|
| Net Income Before Taxes |
|
53,950,989 |
|
57,712,195 |
|
| Federal Income Taxes |
|
14,336,763 |
|
13,111,442 |
|
| Net Income After Taxes |
|
$39,614,226 |
|
$44,600,753 |
|
| SURPLUS |
|
| Beginning Balance |
|
$710,020,666 |
|
$620,388,174 |
|
| Net Income |
|
39,614,226 |
|
44,600,753 |
|
| Unrealized Capital Gains After Taxes |
|
32,548,133 |
|
46,419,501 |
|
| Change in Net Deferred Income Taxes |
|
151,750 |
|
(2,964,919) |
| |
|
|
|
|
|
| Change in Net Pension asset Write-in |
|
- |
|
3,330,293 |
|
| |
|
|
|
|
| Other Changes |
|
(3,966,310) |
|
(1,753,136) |
|
| Increase for Period |
|
68,347,799 |
|
89,632,492 |
|
|
| Ending Balance |
|
$778,368,465 |
|
$710,020,666 |
|
|
|
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