Financial Highlights
Financial Highlights
2019 FQ2 YTD
6/30/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
Balance Sheet ($000)
Cash and Cash Equivalents 80,772 163,996 64,680 62,976 73,538
Investments 873,455 728,598 799,455 689,818 660,360
Total Assets 1,571,026 1,490,131 1,357,016 1,154,137 1,085,771
Total Policy Reserves 1,012,892 936,964 733,359 598,024 538,887
Total Liabilities 1,203,610 1,134,049 938,205 749,792 691,273
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 367,416 356,082 418,811 404,345 394,498
Total Equity 367,416 356,082 418,811 404,345 394,498
Equity before Unrealized Gains 358,651 362,290 372,111 370,294 355,574
Total Equity/ Total Assets(%) 23.39 23.90 30.86 35.03 36.33
Reserves/ Equity(x) 2.76 2.63 1.75 1.48 1.37
Income Statement ($000)
Total Policy Income 225,644 432,880 328,145 276,011 263,335
Net Investment Income 21,321 3,008 30,564 16,956 10,811
Realized Gain on Securities 327 (6,651) 7,217 20,755 426
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 251,335 439,169 371,234 318,997 280,275
Total Policy Expense 177,555 345,864 247,518 186,481 155,750
Underwriting & Other Expense 68,316 137,177 113,594 89,462 90,573
Total Expense 245,871 483,041 361,112 275,943 246,323
Net Income 4,283 (34,075) 18,323 28,945 23,283
Net Income Attributable to Parent 4,283 (34,075) 18,323 28,945 23,283
Operating Income after Taxes (2,761) (11,289) 5,527 13,847 24,103
EBITDA NA NA NA NA 38,989
Per Share Information ($)
Basic Book Value per Share 25.26 23.95 27.83 26.81 26.25
Book Value per Share before Unrealized Gains 24.66 24.37 24.73 24.55 23.66
Diluted EPS after Extraordinary 0.28 (2.28) 1.21 1.92 1.55
EBITDA/ Share NA NA NA NA 2.60
Operating EPS (0.19) (0.75) 0.37 0.92 1.60
Price/ LTM Operating Earnings(x) NM NM 64.70 27.40 15
Common Dividends Declared per Share 0.20 1.12 1.08 1.04 1
Dividend Payout Ratio(%) 71.43 NM 89.26 54.17 64.52
EPS after Extra Growth(%) 47.40 NM (37) 23.90 (21.70)
Profitability (%)
ROAA 0.56 (2.42) 1.47 2.59 2.09
Operating ROAA (0.36) (0.80) 0.44 1.24 2.16
ROAE 2.37 (8.79) 4.45 7.20 5.83
ROATCE 2.37 (8.21) 4.49 7.25 5.87
Operating ROAE (1.53) (2.91) 1.34 3.44 6.03
Investment Yield 4.69 (0.42) 4.71 5.05 1.51
Combined Ratio 107.20 108.60 108.40 98.10 91.40
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) 1.28 1.15 0.86 0.68 0.64
Growth Rates and Trends (%)
Asset Growth 10.86 9.81 17.58 6.30 (5.11)
Equity Growth 6.37 (14.98) 3.58 2.50 (1.25)
Net Written Premium Growth 1.46 25.75 30.04 6.71 (2.87)
Recurring Revenue Growth 12.23 18.30 16.38 13.82 (4.03)
Net Income Growth 52.04 NM (36.70) 24.32 (21.65)
Assets Five-year CAGR 6.93 6.80 6.66 4.97 5.32
Equity Five-year CAGR (1.74) (1.38) 3.85 4.85 1.36
Revenue Five-year CAGR 11.41 8.58 7.20 5.54 2.35
Net Income Five-year CAGR (22.87) NM (10.50) NM (1.42)
Miscellaneous ($000)
Net Premiums Written 231,017 444,398 353,389 271,752 254,653
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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