Financial Highlights
Financial Highlights
2015 FY
12/31/2015
2016 FY
12/31/2016
2017 FY
12/31/2017
2018 FY
12/31/2018
2019 FQ1 YTD
3/31/2019
Balance Sheet ($000)
Cash and Cash Equivalents 73,538 62,976 64,680 163,996 117,418
Investments 660,360 689,818 799,455 728,598 803,900
Total Assets 1,085,771 1,154,137 1,357,016 1,490,131 1,539,791
Total Policy Reserves 538,887 598,024 733,359 936,964 974,553
Total Liabilities 691,273 749,792 938,205 1,134,049 1,173,721
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 394,498 404,345 418,811 356,082 366,070
Total Equity 394,498 404,345 418,811 356,082 366,070
Equity before Unrealized Gains 355,574 370,294 372,111 362,290 363,822
Total Equity/ Total Assets(%) 36.33 35.03 30.86 23.90 23.77
Reserves/ Equity(x) 1.37 1.48 1.75 2.63 2.66
Income Statement ($000)
Total Policy Income 263,335 276,011 328,145 432,880 110,013
Net Investment Income 10,811 16,956 30,564 3,008 12,559
Realized Gain on Securities 426 20,755 7,217 (6,651) (299)
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 280,275 318,997 371,234 439,169 124,337
Total Policy Expense 155,750 186,481 247,518 345,864 87,122
Underwriting & Other Expense 90,573 89,462 113,594 137,177 33,701
Total Expense 246,323 275,943 361,112 483,041 120,823
Net Income 23,283 28,945 18,323 (34,075) 2,748
Net Income Attributable to Parent 23,283 28,945 18,323 (34,075) 2,748
Operating Income after Taxes 24,103 13,847 5,527 (11,289) (2,014)
EBITDA 38,989 NA NA NA NA
Per Share Information ($)
Basic Book Value per Share 26.25 26.81 27.83 23.95 24.63
Book Value per Share before Unrealized Gains 23.66 24.55 24.73 24.37 24.48
Diluted EPS after Extraordinary 1.55 1.92 1.21 (2.28) 0.18
EBITDA/ Share 2.60 NA NA NA NA
Operating EPS 1.60 0.92 0.37 (0.75) (0.14)
Price/ LTM Operating Earnings(x) 15 27.40 64.70 NM NM
Common Dividends Declared per Share 1 1.04 1.08 1.12 0.10
Dividend Payout Ratio(%) 64.52 54.17 89.26 NM 55.56
EPS after Extra Growth(%) (21.70) 23.90 (37) NM 800
Profitability (%)
ROAA 2.09 2.59 1.47 (2.42) 0.73
Operating ROAA 2.16 1.24 0.44 (0.80) (0.53)
ROAE 5.83 7.20 4.50 (8.55) 3.04
ROATCE 5.87 7.25 4.53 (7.98) 3.04
Operating ROAE 6.03 3.44 1.36 (2.83) (2.23)
Investment Yield 1.51 5.05 4.71 (0.42) 5.41
Combined Ratio 91.40 98.10 108.40 108.60 108
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) 0.64 0.68 0.87 1.11 1.28
Growth Rates and Trends (%)
Asset Growth (5.11) 6.30 17.58 9.81 13.33
Equity Growth (1.25) 2.50 3.58 (14.98) 11.22
Net Written Premium Growth (2.87) 6.71 30.04 25.75 1.66
Recurring Revenue Growth (4.03) 13.82 16.38 18.30 15.79
Net Income Growth (21.65) 24.32 (36.70) NM 732.73
Assets Five-year CAGR 5.32 4.97 6.66 6.80 7.24
Equity Five-year CAGR 1.36 4.85 3.85 (1.38) (1.27)
Revenue Five-year CAGR 2.35 5.54 7.20 8.58 11.68
Net Income Five-year CAGR (1.42) NM (10.50) NM (15.45)
Miscellaneous ($000)
Net Premiums Written 254,653 271,752 353,389 444,398 115,322
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.