Financial Highlights

Statutory Balance Sheets
    Year ended
December 31, 2009
Year ended
December 31, 2008
Admitted Assets      
Cash and Invested Assets $ 108,756,995 115,571,523
Other Assets   8,764,175 10,218,541
Total Admitted Assets $ 117,521,170 125,790,064
       
Liabilities and Surplus      
Loss and Loss Adjustment Expense Reserves $ 51,666,220 64,045,632
Other Liabilities   7,515,575 8,698,799
Total Liabilities   59,181,795 72,744,431
Surplus   58,339,375 53,045,633
Total Liabilities and Surplus $ 117,521,170 125,790,064
       
Statutory Statements of Income      
    Year ended
December 31, 2009
Year ended
December 31, 2008
Revenues $    
Direct Premiums Earned   30,894,672 40,538,699
Ceded Premiums Earned   (1,621,479) (1,879,028)
Net Premiums Earned   29,273,193 38,659,671
Net Investment Income   5,392,388 4,878,634
Net Revenues   34,665,581 43,538,305
       
Expenses      
Net Loss and Loss Adjustment Expenses   16,324,542 22,688,406
Underwriting, Operating and Other Expenses   10,445,309 11,341,476
Net Expenses   26,769,851 34,029,882
       
Net Income Before Income Taxes and Policyholder Dividends   7,895,730 9,508,423
Policyholder Dividends   3,145,000 2,750,000
Net Income Before Income Taxes   4,750,730 6,758,423
Income Taxes   427,867 1,948,059
Net Income   4,322,863 4,810,364
       
Statutory Statements of Surplus      
    Year ended
December 31, 2009
Year ended
December 31, 2008
Surplus, Beginning of Year   53,045,633 49,283,851
Net Income   4,322,863 4,810,364
Other Changes in Surplus, Net   970,879 (1,048,582)
Surplus, End of Year   58,339,375 53,045,633

Surplus

Net Premiums Written to Surplus

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