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Income Statement

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Financial Highlights
12/31/2016
3/31/2017
12/31/2017
3/31/2018
Revenue ($000)
P&C Net Premiums Earned 456,931 107,183 585,490 164,900
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 456,931 107,183 585,490 164,900
Investment Income from Securities NA NA NA NA
Partnership Income NA NA NA NA
Net Investment Income 10,092 2,701 17,126 2,999
Realized Gain on Derivative Securities 0 0 0 0
Other Realized Security Gains 547 (351) 67 211
Realized Gain on Securities 547 (351) 67 211
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 19,060 12,888 51,204 3,771
Nonrecurring Revenue 0 0 0 0
Total Revenue 486,630 122,421 653,887 171,881
Expense ($000)
P&C Losses & LAE 298,353 63,333 365,535 77,246
L&H Total Claims & Policy Benefits 0 0 0 0
Managed Care Policy Expense 0 0 0 0
Total Policy Expense 298,353 63,333 365,535 77,246
DAC Amortization 115,847 NA 171,915 NA
VOBA Amortization 1,811 NA 3,529 NA
Policy Acquisition Costs 117,658 35,436 175,444 49,062
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 51,785 15,010 70,647 31,400
Underwriting & Other Expense 169,443 50,446 246,091 80,462
Interest Expense 723 759 3,247 2,458
Nonrecurring Expense 11,108 1,945 38,104 0
Total Expense 479,627 116,483 652,977 160,166
Net Income ($000)
Net Income before Taxes 7,003 5,938 910 11,716
Provision for Taxes 1,305 2,039 (9,235) 3,347
Effective Tax Rate(%) 18.63 34.34 NM 28.57
Net Income after Taxes 5,698 3,899 10,145 8,369
Other After-tax Items 0 0 0 0
Total Minority Interest Expense 0 0 0 0
Net Income before Extra 5,698 3,899 10,145 8,369
Extraordinary Items 0 0 0 0
Net Income 5,698 3,899 10,145 8,369
Net Income Attributable to Noncontrolling Int 0 0 0 0
Net Income Attributable to Parent 5,698 3,899 10,145 8,369
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 5,698 3,899 10,145 8,369
Operating Income ($000)
Net Income before Extra 5,698 3,899 10,145 8,369
Realized Gains, after Tax NA (228) NA NA
Other After-tax Operating Income Adjustments NA (1,264) NA NA
Operating Income after Taxes 12,562 5,391 34,869 17,853
Comprehensive Income ($000)
Net Income 5,698 3,899 10,145 8,369
Change in Unrealized Gain (798) 2,540 8,399 (17,672)
Change in Foreign Currency Translations 0 0 0 0
Pension Fund Liability Adjustments 0 0 0 0
Change in Fair Value of Effective Hedges 0 0 0 0
Total Other Comprehensive Income (798) 2,540 8,399 (17,672)
Comprehensive Income 4,900 6,439 18,544 (9,303)
Comprehensive Income: Noncontrolling Interests 0 0 0 0
Comprehensive Income: Parent Company 4,900 6,439 18,544 (9,303)
Share and Per Share Info ($)
Basic EPS before Extra 0.27 0.18 0.27 0.20
Basic EPS after Extra 0.27 0.18 0.27 0.20
Avg Basic Shares Out(actual) 21,417,486 21,471,185 37,152,768 42,581,939
Diluted EPS before Extra 0.26 0.18 0.27 0.20
Diluted EPS after Extraordinary 0.26 0.18 0.27 0.20
Operating EPS 0.58 0.25 0.93 0.42
Avg Diluted Shares Out(actual) 21,614,443 21,688,733 37,375,340 42,748,627
Common Dividends Declared per Share 0.23 0.06 0.24 0.06
P&C GAAP Underwriting Ratios (%)
Loss Ratio 65.30 59.10 62.40 46.84
Expense Ratio 39.60 49.10 48.70 48.94
Combined Ratio 104.90 108.20 111.10 95.78
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.