| Underwriting income: |
| Premiums earned |
$14,079,302 |
$14,313,160 |
| |
| Deductions: |
| Losses incurred |
1,494,821 |
333,566 |
| Loss adjustment expenses incurred |
2,724,901 |
3,765,208 |
| Other underwriting expenses incurred |
3,282,722 |
3,562,778 |
| |
7,502,444 |
7,661,552 |
| Net underwriting gain/ (loss) |
6,576,858 |
6,651,608 |
| |
| Investment Income: |
| Net investment income earned |
2,427,509 |
1,920,278 |
| Realized capital gains / (losses) - net of tax (2014: $1,753,000; 2013: $424,000) |
3,402,616 |
822,414 |
| Net investment gain |
5,830,125 |
2,742,692 |
| |
| Other income / (expense): |
| Loss from balances charged off |
(14,790) |
(6,216) |
| Finance and service charges not included in premiums |
220,465 |
221,261 |
| Other income |
10,904 |
15,968 |
| Net other income |
216,579 |
231,013 |
| |
| Income before dividends to policyholders and federal income taxes |
12,623,562 |
9,625,313 |
| Dividends to policyholders |
1,716,459 |
1,278,009 |
| Income before federal income taxes incurred |
10,907,103 |
8,347,304 |
| Federal income taxes incurred |
1,635,709 |
2,081,805 |
| Net income |
$9,271,394 |
$6,265,499 |
