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| Income Statement September 30, 2011
(Unaudited) |
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Net Premiums Earned
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$46,568,113
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Losses Incurred
|
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22,632,822
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Loss Expenses Incurred
|
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4,679,616
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Other Underwriting Expenses
|
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19,097,144
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Total Underwriting Deductions
|
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$46,409,582
|
 |
 |
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Net Underwriting Gain Or Loss
|
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158,531
|
 |
 |
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Net Investment Income & Realized
Capital Gains
|
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678,996
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Other Income
|
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-
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Net Income Before Dividends to
Policyholders
|
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837,527
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Dividends to Policyholders
|
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-
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Net Income After Dividends to
Policyholders
|
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837,527
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Federal and Foreign Income Taxes
Incurred
|
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-
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Net Income
|
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837,527
|
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Surplus As Regard Policyholders
December 31, prior year
|
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$22,742,975
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Net Income
|
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837,527
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Change In Deferred Tax
|
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(745,357)
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Change in Nonadmitted Assets
|
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675,172
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Change in Surplus Notes
|
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(308,824)
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Additional Paid In Capital
|
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-
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Change In Surplus
|
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458,518
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Surplus As Regard
Policyholdders
|
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$23,201,493
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| Balance Sheet as of September 30, 2011
(Unaudited) |
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Assets:
|
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Net Admitted
Assets
|
| Bonds: |
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$76,327,448 |
| Cash And Short-term Investments: |
 |
17,814,390 |
| Deferred Installment/Agents' Balance
Rec: |
 |
8,833,966 |
| Net Deferred Tax Asset |
 |
1,530,000 |
| Other Assets |
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2,550,495 |
| Total
Assets: |
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$107,056,299 |
 |
 |
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|
Liabilities and Surplus: |
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| Loss and Loss Adjustment Reserve: |
 |
$16,231,471 |
| Net Unearned Premiums |
 |
27,249,328 |
| Ceded Reinsurance Payable |
 |
29,964,968 |
| Payable to Affiliates |
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2,344,707 |
| Other
Liabilities: |
 |
8,064,332 |
| Total
Liabilities: |
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$83,854,806 |
 |
 |
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| Surplus: |
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| Capital
Paid in and Contributed Surplus: |
 |
$14,250,000 |
| Surplus
Note |
 |
9,235,294 |
|
Unassigned Surplus: |
 |
(283,801) |
| Total Surplus: |
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$23,201,493 |
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 |
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| Total Liabilities
and Surplus: |
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$107,056,299 |
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