| Underwriting income: |
| Premiums earned |
$14,313,160 |
$13,835,736 |
| |
| Deductions: |
| Losses incurred |
333,566 |
1,796,536 |
| Loss adjustment expenses incurred |
3,765,208 |
5,324,299 |
| Other underwriting expenses incurred |
3,562,778 |
3,165,487 |
| |
7,661,552 |
10,286,322 |
| Net underwriting gain/ (loss) |
6,651,608 |
3,549,414 |
| |
| Investment Income: |
| Net investment income earned |
1,920,278 |
2,669,079 |
| Realized capital gains / (losses) - net of tax ( 2013: $424,000; 2012: $321,179) |
822,414 |
693,240 |
| Net investment gain |
2,742,692 |
3,362,319 |
| |
| Other income / (expense): |
| Loss from balances charged off |
(6,216) |
(32,610) |
| Finance and service charges not included in premiums |
221,261 |
219,866 |
| Other income |
15,968 |
7,148 |
| Net other income |
231,013 |
194,404 |
| |
| Income before dividends to policyholders and federal income taxes |
9,625,313 |
7,106,137 |
| Dividends to policyholders |
1,278,009 |
950,485 |
| Income before federal income taxes incurred |
8,347,304 |
6,155,652 |
| Federal income taxes incurred |
2,081,805 |
1,201,843 |
| Net income |
$6,265,499 |
$4,953,809 |
