Maintaining a sound financial base that provides adequate capital to meet the company’s long-term obligations is part of our strategic objectives. Currently, the company is rated A+/Superior from the A.M. Best Company, an independent rating organization serving the insurance industry. Our financial security and stability is a reflection of responsible and loyal policyholders, professional independent agency partners, a supportive board of directors and a dedicated employee team.
For more information on our financial base, please see our latest financial statement below:
Financial Performance ($ in thousands) |
2025 | 2024 |
|---|---|---|
| Balance Sheet | ||
| Assets | ||
| Bonds | $498,307 | $464,322 |
| Common Stocks | 247,543 | 232,298 |
| Real Estate | 3,002 | 3,020 |
| Cash and Short-Term Investments | 73,803 | 70,941 |
| Premiums Receivable | 55,284 | 63,822 |
| Other Assets | 8,366 | 7,585 |
| Total Assets | $886,305 | $841,988 |
| Liabilities and Policyholder Protection | ||
| Losses in Process of Adjustment | $139,082 | $149,010 |
| Unearned Premiums | 110,127 | 123,120 |
| Accrued Expenses | 22,813 | 21,201 |
| Other Liabilities | 23,585 | 18,004 |
| Total Liabilities | $295,607 | $311,335 |
| Reserve for Policyholder Protection | 590,698 | 530,653 |
| Total Liabilities and Policyholder Protection | $886,305 | $841,988 |
| Income Statement | ||
| Revenue | ||
| Net Premiums Earned | $215,501 | $236,130 |
| Net Investment Income | 30,909 | 33,139 |
| Total Income Earned | $246,410 | $269,269 |
| Expenses | ||
| Claims and Policy-Related Expenses | $174,676 | $202,670 |
| Administrative Expenses | 15,582 | 15,169 |
| Total Expenses | $190,258 | $217,839 |
| Net Income (Loss) Before Taxes | 56,152 | 51,430 |
| Less Income Tax Expense | 6,802 | 7,103 |
| Net Income (Loss) | $49,350 | $44,327 |
| Combined Ratio | 90.3% | 93.4% |