Financial Highlights
Financial Highlights
2018 FQ3 YTD
9/30/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
2014 FY
12/31/2014
Balance Sheet ($000)
Cash and Cash Equivalents 108,993 64,680 62,976 73,538 64,632
Investments 771,567 806,824 689,818 660,360 698,112
Total Assets 1,447,030 1,357,016 1,154,137 1,085,771 1,144,247
Total Policy Reserves 845,945 733,359 598,024 538,887 541,121
Total Liabilities 1,058,985 938,205 749,792 691,273 744,751
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 388,045 418,811 404,345 394,498 399,496
Total Equity 388,045 418,811 404,345 394,498 399,496
Equity before Unrealized Gains 393,683 372,111 370,294 355,574 347,656
Total Equity/ Total Assets(%) 26.82 30.86 35.03 36.33 34.91
Reserves/ Equity(x) 2.18 1.75 1.48 1.37 1.35
Income Statement ($000)
Total Policy Income 314,209 328,145 276,011 263,335 261,627
Net Investment Income 8,675 30,564 16,956 10,811 16,163
Realized Gain on Securities 1,740 7,217 20,755 426 7,822
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 332,112 371,234 318,997 280,275 292,042
Total Policy Expense 244,327 247,518 186,481 155,750 159,596
Underwriting & Other Expense 99,984 113,594 89,462 90,573 88,048
Total Expense 344,311 361,112 275,943 246,323 247,644
Net Income (9,508) 18,323 28,945 23,283 29,717
Net Income Attributable to Parent (9,508) 18,323 28,945 23,283 29,717
Operating Income after Taxes (5,088) 5,527 13,847 24,103 20,013
EBITDA NA 15,874 48,575 38,989 49,195
Per Share Information ($)
Basic Book Value per Share 25.96 27.83 26.81 26.25 26.67
Book Value per Share before Unrealized Gains 26.34 24.73 24.55 23.66 23.21
Diluted EPS after Extraordinary (0.63) 1.21 1.92 1.55 1.98
EBITDA/ Share NA 1.05 3.22 2.60 3.28
Operating EPS (0.34) 0.37 0.92 1.60 1.34
Price/ LTM Operating Earnings(x) 39.60 64.70 27.40 15 19.20
Common Dividends Declared per Share 0.84 1.08 1.04 1 1
Dividend Payout Ratio(%) NM 89.26 54.17 64.52 50.51
EPS after Extra Growth(%) NM (37) 23.90 (21.70) (19.20)
Profitability (%)
ROAA (0.91) 1.47 2.59 2.09 2.68
Operating ROAA (0.49) 0.44 1.24 2.16 1.80
ROAE (3.11) 4.50 7.20 5.83 7.52
ROATCE (3.14) 4.53 7.25 5.87 7.58
Operating ROAE (1.66) 1.36 3.44 6.03 5.07
Investment Yield 1.62 4.70 5.05 1.51 3.23
Combined Ratio 107.20 108.40 98.50 91.40 93
P&C Stat Combined Ratio after Dividends NA NA NA NA NA
Reported Medical Care Ratio NA NA NA NA NA
Net Premiums Written/ Avg Equity(x) 1.06 0.87 0.68 0.64 0.66
Growth Rates and Trends (%)
Asset Growth 8.84 17.58 6.30 (5.11) 6.71
Equity Growth (9.79) 3.58 2.50 (1.25) 4.66
Net Written Premium Growth 31.75 30.04 6.71 (2.87) 3.35
Recurring Revenue Growth 26.36 16.38 13.82 (4.03) 0.37
Net Income Growth NM (36.70) 24.32 (21.65) (18.78)
Assets Five-year CAGR 6.32 6.66 4.97 5.32 6.09
Equity Five-year CAGR 1.10 3.85 4.85 1.36 1.38
Revenue Five-year CAGR 9.10 7.20 5.54 2.35 4.65
Net Income Five-year CAGR NM (10.50) NM (1.42) (7.88)
Miscellaneous ($000)
Net Premiums Written 324,702 353,389 271,752 254,653 262,171
Gross Life Insurance in Force 0 0 0 0 0
Total Membership(actual) 0 0 0 0 0
Assets Under Management 0 0 0 0 0
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