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
Since 1988

Financial Size Category VIII

 

 

2017 Annual Report
Click for complete
2017 Annual Report
 

Financial Strength

STATUTORY INCOME STATEMENTS
 
UNDERWRITING 2017 2016
 
Premiums Earned $68,365,116 $64,859,446
Losses and LAE Incurred ($29,682,417) ($26,420,701)
Underwriting Expense ($27,849,887) ($26,373,016)

NET UNDERWRITING INCOME $10,832,812 $12,065,729
Net Investment Gain $6,143,041 $5,786,247
Other Income, Net $724,617 $765,108

INCOME BEFORE TAXES $17,700,470 $18,617,084
Income Tax Expense ($4,747,000) ($5,079,000)

NET INCOME $12,953,470 $13,538,084
STATUTORY BALANCE SHEETS
 
ASSETS AND LIABILITIES 2017 2016
 
Investments $220,607,849 $196,480,029
Premium Receivables $10,966,735 $10,213,750
Other Assets $2,753,220 $3,873,465

TOTAL ADMITTED ASSETS $234,327,804 $210,567,244
LIABILITIES
Unpaid Loss & Loss Expense $21,147,150 $18,594,602
Unearned Premiums $39,232,835 $36,804,366
Other Liabilities $13,440,296 $13,427,522

TOTAL LIABILITIES $73,820,281 $68,826,490
 
SURPLUS $160,507,523 $141,740,754

TOTAL LIABILITIES AND SURPLUS $234,327,804 $210,567,244