Financial Highlights
Financial Highlights
2018 FY
12/31/2018
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 163,996 64,680 62,976 73,538 64,632
Investments 728,598 799,455 689,818 660,360 698,112
Total Assets 1,490,131 1,357,016 1,154,137 1,085,771 1,144,247
Total Policy Reserves 936,964 733,359 598,024 538,887 541,121
Total Liabilities 1,134,049 938,205 749,792 691,273 744,751
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 356,082 418,811 404,345 394,498 399,496
Total Equity 356,082 418,811 404,345 394,498 399,496
Equity before Unrealized Gains 362,290 372,111 370,294 355,574 347,656
Total Equity/ Total Assets(%) 23.90 30.86 35.03 36.33 34.91
Reserves/ Equity(x) 2.63 1.75 1.48 1.37 1.35
Income Statement ($000)
Total Policy Income 432,880 328,145 276,011 263,335 261,627
Net Investment Income 3,008 30,564 16,956 10,811 16,163
Realized Gain on Securities (6,651) 7,217 20,755 426 7,822
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 439,169 371,234 318,997 280,275 292,042
Total Policy Expense 345,864 247,518 186,481 155,750 159,596
Underwriting & Other Expense 137,177 113,594 89,462 90,573 88,048
Total Expense 483,041 361,112 275,943 246,323 247,644
Net Income (34,075) 18,323 28,945 23,283 29,717
Net Income Attributable to Parent (34,075) 18,323 28,945 23,283 29,717
Operating Income after Taxes (11,289) 5,527 13,847 24,103 20,013
EBITDA NA NA NA 38,989 49,195
Per Share Information ($)
Basic Book Value per Share 23.95 27.83 26.81 26.25 26.67
Book Value per Share before Unrealized Gains 24.37 24.73 24.55 23.66 23.21
Diluted EPS after Extraordinary (2.28) 1.21 1.92 1.55 1.98
EBITDA/ Share NA NA NA 2.60 3.28
Operating EPS (0.75) 0.37 0.92 1.60 1.34
Price/ LTM Operating Earnings(x) NM 64.70 27.40 15 19.20
Common Dividends Declared per Share 1.12 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 (2.42) 1.47 2.59 2.09 2.68
Operating ROAA (0.80) 0.44 1.24 2.16 1.80
ROAE (8.55) 4.50 7.20 5.83 7.52
ROATCE (7.98) 4.53 7.25 5.87 7.58
Operating ROAE (2.83) 1.36 3.44 6.03 5.07
Investment Yield (0.42) 4.71 5.05 1.51 3.23
Combined Ratio 108.60 108.40 98.10 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) 1.11 0.87 0.68 0.64 0.66
Growth Rates and Trends (%)
Asset Growth 9.81 17.58 6.30 (5.11) 6.71
Equity Growth (14.98) 3.58 2.50 (1.25) 4.66
Net Written Premium Growth 25.75 30.04 6.71 (2.87) 3.35
Recurring Revenue Growth 18.30 16.38 13.82 (4.03) 0.37
Net Income Growth NM (36.70) 24.32 (21.65) (18.78)
Assets Five-year CAGR 6.80 6.66 4.97 5.32 6.09
Equity Five-year CAGR (1.38) 3.85 4.85 1.36 1.38
Revenue Five-year CAGR 8.58 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 444,398 353,389 271,752 254,653 262,171
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
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.