The Strength of Our Past
is the
Foundation of Our Future

Independent agents market our products and services to over 75,000 policyholders in upstate New York.

 

 

A.M. Best Rated
“A”
Excellent

Financial Size Category VIII

 

 

2014 Annual Report
Click for complete
2014 Annual Report
 

Financial Strength

STATUTORY INCOME STATEMENTS
 
UNDERWRITING 2014 2013
 
Premiums Earned $59,002,158 $55,293,960
Losses and LAE Incurred ($28,373,561) ($21,659,169)
Underwriting Expense ($24,594,306) ($23,507,576)

NET UNDERWRITING INCOME(LOSS) $6,034,291 $10,127,215
Net Investment Gain $5,205,868 $4,420,712
Other Income, Net $728,982 $744,256

INCOME BEFORE TAXES $11,969,141 $15,292,183
Income Tax Expense ($2,891,000) ($4,197,000)

NET INCOME $9,078,141 $11,095,183
STATUTORY BALANCE SHEETS
 
ASSETS AND LIABILITIES 2014 2013
 
Investments $168,976,686 $153,417,910
Premium Receivables $9,214,760 $8,849,358
Deferred Tax Asset $1,954,335 $1,633,791
Other Assets $2,314,866 $1,539,036

TOTAL ADMITTED ASSETS $182,460,647 $165,440,095
LIABILITIES
Unpaid Loss and LAE $21,102,649 $17,638,371
Unearned Premiums $33,584,090 $31,524,335
Other Liabilities $12,231,932 $9,767,991

TOTAL LIABILITIES $66,918,671 $58,930,697
 
SURPLUS $115,541,976 $106,509,398

TOTAL LIABILITIES AND SURPLUS $182,460,647 $165,440,095