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Income Statement

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Financial Highlights
12/31/2015
12/31/2016
3/31/2017
12/31/2017
Revenue ($000)
P&C Net Premiums Earned 335,958 456,931 107,183 585,490
L&H Net Premiums Earned 0 0 0 0
L&H Fees 0 0 0 0
L&H Policy Revenue 0 0 0 0
Managed Care Premiums Earned 0 0 0 0
Total Policy Income 335,958 456,931 107,183 585,490
Investment Income from Securities NA NA NA NA
Partnership Income NA NA NA NA
Net Investment Income 8,945 10,092 2,701 17,126
Realized Gain on Derivative Securities 0 0 0 0
Other Realized Security Gains 827 547 (351) 67
Realized Gain on Securities 827 547 (351) 67
Total Asset Management and Administration Fees 0 0 0 0
Broker Commissions 0 0 0 0
Asset Management and Brokerage Fees 0 0 0 0
Insurance Management Servicing Revenue 0 0 0 0
Other Noninterest Income 11,866 19,060 12,888 51,204
Nonrecurring Revenue 0 0 0 0
Total Revenue 357,596 486,630 122,421 653,887
Expense ($000)
P&C Losses & LAE 183,108 298,353 63,333 365,535
L&H Total Claims & Policy Benefits 0 0 0 0
Managed Care Policy Expense 0 0 0 0
Total Policy Expense 183,108 298,353 63,333 365,535
DAC Amortization 86,414 115,847 NA 171,915
VOBA Amortization 987 1,811 NA 3,529
Policy Acquisition Costs 87,401 117,658 35,436 175,444
Amortization of Intangibles NA NA NA NA
Impairment of Goodwill 0 0 0 0
Amrt of Intang & Goodwill Impair NA NA NA NA
SG&A NA NA NA NA
Other Underwriting Expense 44,901 51,785 15,010 70,647
Underwriting & Other Expense 132,302 169,443 50,446 246,091
Interest Expense 326 723 759 3,247
Nonrecurring Expense 0 11,108 1,945 38,104
Total Expense 315,736 479,627 116,483 652,977
Net Income ($000)
Net Income before Taxes 41,860 7,003 5,938 910
Provision for Taxes 14,502 1,305 2,039 (9,235)
Effective Tax Rate(%) 34.64 18.63 34.34 NM
Net Income after Taxes 27,358 5,698 3,899 10,145
Other After-tax Items 0 0 0 0
Total Minority Interest Expense 0 0 0 0
Net Income before Extra 27,358 5,698 3,899 10,145
Extraordinary Items 0 0 0 0
Net Income 27,358 5,698 3,899 10,145
Net Income Attributable to Noncontrolling Int 0 0 0 0
Net Income Attributable to Parent 27,358 5,698 3,899 10,145
Preferred Dividends 0 0 0 0
Other Preferred Dividends after Net Income 0 0 0 0
Other Changes to Net Income 0 0 0 0
Net Income Avail to Common 27,358 5,698 3,899 10,145
Operating Income ($000)
Net Income before Extra 27,358 5,698 3,899 10,145
Realized Gains, after Tax NA NA (228) NA
Other After-tax Operating Income Adjustments NA NA (1,264) NA
Operating Income after Taxes NA NA 5,391 NA
Comprehensive Income ($000)
Net Income 27,358 5,698 3,899 10,145
Change in Unrealized Gain (2,391) (798) 2,540 8,399
Change in Foreign Currency Translations 0 0 0 0
Pension Fund Liability Adjustments 0 0 0 0
Change in Fair Value of Effective Hedges 0 0 0 0
Total Other Comprehensive Income (2,391) (798) 2,540 8,399
Comprehensive Income 24,967 4,900 6,439 18,544
Comprehensive Income: Noncontrolling Interests 0 0 0 0
Comprehensive Income: Parent Company 24,967 4,900 6,439 18,544
Share and Per Share Info ($)
Basic EPS before Extra 1.29 0.27 0.18 0.27
Basic EPS after Extra 1.29 0.27 0.18 0.27
Avg Basic Shares Out(actual) 21,218,233 21,417,486 21,471,185 37,152,768
Diluted EPS before Extra 1.28 0.26 0.18 0.27
Diluted EPS after Extraordinary 1.28 0.26 0.18 0.27
Operating EPS NA NA 0.25 NA
Avg Diluted Shares Out(actual) 21,452,540 21,614,443 21,688,733 37,375,340
Common Dividends Declared per Share 0.20 0.23 0.06 0.24
P&C GAAP Underwriting Ratios (%)
Loss Ratio 54.50 65.30 59.10 62.40
Expense Ratio 39.50 39.60 49.10 48.70
Combined Ratio 94 104.90 108.20 111.10
Managed Care Ratios (%)
Reported Medical Care Ratio NA NA NA NA
Reported Administrative Ratio NA NA NA NA
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.