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)
2018 2017
Balance Sheet
Assets
Bonds $357771 $328937
Common Stocks 172588 187568
Real Estate 3390 3483
Cash and Short term Investments 34649 27988
Premiums Receivable 63903 55259
Other Assets 5290 5464
Total Assets $637592 $608699
Liabilities and Policyholder Protection
Losses in Process of Adjustment $111404 $101507
Unearned Premiums 118067 106309
Accrued Expenses 20768 20492
Other Liabilities 13914 17215
Total Liabilities 264152 245522
Reserve for Policyholder Protection 373440 363176
Total Liabilities and Policyholder Protection $637592 $608699
Income Statement
Revenue
Net Premiums Earned $214272 $199823
Net Investment Income 19732 13829
Total Income Earned $234004 $213652
Expenses
Claims and Policy-Related Expenses $191192 $167986
Administrative Expenses 13360 13456
Total Expenses $204552 $181442
Net Income Before Taxes $29452 $32210
Less Income Tax Expense 4767 9951
Net Income $24685 $22259
Combined Ratio 93.9 89.7