Financial Highlights

Financial Highlights
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
Balance Sheet ($000)
Cash and Cash Equivalents 112,679 229,556 150,688
Investments 1,023,277 901,250 528,647
Total Assets 2,321,428 2,059,921 999,686
Unpaid Loss Reserves & Unearned Premiums 1,288,516 1,038,105 513,078
Total Liabilities 1,781,059 1,522,796 758,359
Total Equity 540,369 537,125 241,327
Equity before Unrealized Gains 549,399 527,904 240,505
Total Equity/ Total Assets(%) 23.28 26.08 24.14
Income Statement ($000)
Net Premiums Earned 689,276 585,490 456,931
Net Investment Income less Investment Expenses 16,870 17,126 10,092
Realized Gain on Securities 1,655 67 547
Total Revenue 723,027 653,887 486,630
Loss and Loss Adjustment Expenses 408,589 365,535 298,353
Underwriting & Other Expense 308,811 246,091 169,443
Total Expense 727,266 652,977 479,627
Net Income 394 10,145 5,698
EBITDA 24,109 41,689 19,439
Per Share Information ($)
Basic Book Value per Share 12.10 12.56 11.15
Book Value per Share before Unrealized Gains 12.31 12.35 11.11
Diluted EPS after Extraordinary 0.01 0.27 0.26
EBITDA/ Share 0.83 1.11 0.89
Common Dividends Declared per Share 0.24 0.24 0.23
Dividend Payout Ratio(%) NM 88.89 88.46
Profitability (%)
ROAA 0.02 0.63 0.64
Investment Yield 1.59 1.87 1.71
Net Premiums Written/ Avg Equity(x) 1.37 1.42 1.78
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