Financials

Statutory Statements of Admitted Assets, Liabilities and Policyholders' Surplus

 

  As of December 31, 2013
Admitted Assets 2013 2012         
Cash and investments:    
   Bonds, at amortized cost    
     (market 2013: $50,932,358; 2012: $50,993,662)  $49,666,128  $47,894,430
     Bonds, at market    
     (amortized cost 2013: $1,453,085; 2012: $0) 1,407,612   -
   Preferred stocks, at amortized cost    
     ( market 2013: $2,487,822; 2012: $2,445,400 ) 2,223,429 1,331,551
   Preferred stocks, at market    
     (amortized cost 2013: $1,350,758; 2012: $1,299,609) 1,252,802 2,185,777
   Common stocks, at market    
     ( cost 2013: $11,392,053; 2012: $9,396,933 ) 18,661,074 13,595,996
   Cash and short-term investments  5,220,247 12,328,909
   Other invested assets  7,001,198 3,795,016
   Receivable for securities 240,785 -
        Cash and investments 85,673,275 81,131,679
     
Interest and dividend income due and accrued 598,264 570,286
Premiums in course of collection 2,076,835 2,082,775
Reinsurance recoverables on claim payments 17,271 15,648
Other amounts receivable under reinsurance contracts                  525,234 797,692
Current Net Federal income tax recoverable  1,141,801 382,850
Deferred Net Federal income tax asset - 625,357
Receivable from subsidiary 160,051 213,161
Other                                                                                138,662 208,323
     Total assets  $90,331,393      $86,027,771
     
Liabilities and Policyholders'Surplus 2013 2012
Liabilities:    
   Unpaid losses  9,786,925 $13,255,482
   Unpaid loss adjustment expenses 10,238,950  12,307,978
   Taxes, licenses, fees and other expenses payable 1,030,600  1,000,362
   Net Deferred Tax Liability 641,373 - 
   Unearned premiums 6,481,502  6,512,804
   Advance premiums 748,858  648,839
   Dividends declared and unpaid 1,335,635 1,054,679
   Ceded reinsurance premiums payable, net of ceding commissions 534,145  524,844
   Funds held by company under reinsurance treaties 318,722  49,902
   Amounts withheld by company for account of others  7,696  74,369
   Provision for reinsurance  468 2,505
   Payable to parent, subsidiaries and affiliates 139,700 -
   Payable for securities 178,033  29,400
   Unearned installment charges  105,073 83,953
      Total liabilities  31,547,680 35,545,117
Policyholders' Surplus:    
      Total Policyholders' Surplus  58,783,713 50,482,654
      Total liabilities and Policyholders' Surplus  $90,331,393      $86,027,771