The Strength of Our Past
is the
Foundation of Our Future

Independent agents market our products and services to over 109,000 policyholders in upstate New York.

 

 

A.M. Best Rated
“A”
Excellent
Since 1988

Financial Size Category VIII

 

 

2024 Annual Report
Click for complete
2024 Annual Report 

Financial Strength

STATUTORY INCOME STATEMENTS
 
2024 2023
 
Premiums Earned $128,805,521 $113,523,633
Losses and LAE Incurred ($76,986,185) ($71,743,689)
Underwriting Expense ($50,738,334) ($44,907,910)
NET UNDERWRITING INCOME (LOSS) $1,081,002 ($3,127,966)
Net Investment Gain $18,533,701 $10,274,605
Other Income, Net $723,048 $574,730
INCOME BEFORE TAXES $20,337,751 $7,721,369
Income Tax Expense ($2,527,000) ($1,100,000)
NET INCOME $17,810,751 $6,621,369
STATUTORY BALANCE SHEETS
 
2024 2023
 
Cash & Invested Assets $403,834,563 $366,143,106
Premium Receivables $22,365,108 $19,857,501
Other Assets $4,935,492 $4,667,669
TOTAL ADMITTED ASSETS $431,135,163 $390,668,276
LIABILITIES
Unpaid Loss & Loss Adjustment Expense $63,350,946 $54,997,139
Unearned Premiums $77,885,042 $69,489,065
Other Liabilities $23,555,400 $20,164,366
TOTAL LIABILITIES $164,791,388 $144,650,570
 
SURPLUS $266,343,775 $246,017,706
TOTAL LIABILITIES AND SURPLUS $431,135,163 $390,668,276