The Mutual Financials

Summary Statement of Income

For the Years Ended December 31, 2018 and 2017
2018 2017
Premiums earned $ 24,336,000 $ 23,649,000
Losses and loss adjustment expense -17,001,000 -14,349,000
Other underwriting expense -1,719,000 -2,238,000
Net underwriting income $ 5,616,000 $ 7,062,000
Investment income 2,544,000 2,564,000
Dividends to Policyholders -3,385,000 -4,587,000
Income before federal income taxes $ 4,775,000 $ 5,039,000
Federal income tax expense -1,093,000 -1,430,000
Net income $ 3,682,000 $ 3,609,000

Summary Statement of Admitted Assets, Liabilities and Surplus

December 31, 2018 and 2017
Admitted Assets
2018 2017
Cash and investments $ 110,095,000 $ 109,716,000
Other Assets 3,022,000 1,722,000
Total admitted assets $ 113,117,000 $ 111,438,000
Liabilities and Surplus
2018 2017
Loss reserves $ 50,191,000 $ 48,432,000
Other liabilities 5,856,000 9,957,000
Total liabilities $ 56,047,000 $ 58,389,000
Surplus 57,070,000 53,049,000
Total liabilities and surplus $ 113,117,000 $ 111,438,000