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

 

 

2018 Annual Report
Click for complete
2018 Annual Report
 

Financial Strength

STATUTORY INCOME STATEMENTS
 
UNDERWRITING 2018 2017
 
Premiums Earned $73,078,570 $68,365,116
Losses and LAE Incurred ($34,854,927) ($29,682,417)
Underwriting Expense ($29,573,271) ($27,849,887)

NET UNDERWRITING INCOME $8,650,372 $10,832,812
Net Investment Gain $6,865,298 $6,143,041
Other Income, Net $741,768 $724,617

INCOME BEFORE TAXES $16,257,438 $17,700,470
Income Tax Expense ($2,655,000) ($4,747,000)

NET INCOME $13,602,438 $12,953,470
STATUTORY BALANCE SHEETS
 
ASSETS AND LIABILITIES 2018 2017
 
Investments $235,084,814 $220,607,849
Premium Receivables $11,650,636 $10,966,735
Other Assets $3,882,984 $2,753,220

TOTAL ADMITTED ASSETS $250,618,434 $234,327,804
LIABILITIES
Unpaid Loss & Loss Expense $24,714,251 $21,147,150
Unearned Premiums $42,064,363 $39,232,835
Other Liabilities $13,060,342 $13,440,296

TOTAL LIABILITIES $79,838,956 $73,820,281
 
SURPLUS $170,779,478 $160,507,523

TOTAL LIABILITIES AND SURPLUS $250,618,434 $234,327,804