Financial Report

Balance sheet as of December 31, 2012, including assets, liabilities and reserves, and statement of operations.

Financial Statements
Balance Sheet December 31, 2012
Assets  
Cash & Cash Equivalents 
$ 46,763,000
Accounts Receivable 84,356,000
Investments 332,452,000
Land and Buildings 25,818,000
EDP Equipment 7,334,000
Other Assets 9,167,000
Total Assets $ 505,890,000
   
Liabilities & Reserves  
Claims Payable $ 155,570,000
Premiums Received in Advance 16,797,000
Accounts Payable 61,556,000
Total Liabilities 233,923,000
Reserve for Contingencies 271,967,000
Total Liabilities and Reserve $ 505,890,000
   
   
Statement of Operations  
For the year ending December 31, 2012
Premium Income   $ 1,106,309,000
Claims Incurred 997,076,000
Operating Expense 82,140,000
State Premium Tax 12,987,000
Operating Gain 14,106,000
Other Income 12,541,000
Income Tax Provision 4,554,000
Net Income $ 22,093,000
   
   
Changes in Reserves for Contingencies  
Balance as of December 31, 2011  $ 270,295,000
Change in Unrealized Gain/(Loss) (13,232,000)
Change in Non-Admitted Assets (9,475,000)
Change in Net Deferred Income Tax 2,286,000
Net Income (Loss) to Date 22,093,000
Balance as of December 31, 2012 $ 271,967,000