The Mutual Financials

Summary Statement of Income

For the Years Ended December 31, 2016 and 2015
2016 2015
Premiums earned $ 24,412,989 $ 19,379,032
Losses and loss adjustment expense -18,385,717 -15,291,741
Other underwriting expense -1,986,955 -1,762,136
Net underwriting income $ 4,040,317 $ 2,325,155
Investment income 2,611,235 2,505,745
Dividends to Policyholders -701,018 -2,102,221
Income before federal income taxes $ 5,950,534 $ 2,728,679
Federal income tax expense -1,749,688 -665,255
Net income $ 4,200,846 $ 2,063,424

Summary Statement of Admitted Assets, Liabilities and Surplus

December 31, 2016 and 2015
Admitted Assets
2016 2015
Cash and investments $ 105,475,127 $ 96,298,726
Other Assets 2,236,188 2,883,552
Total admitted assets $ 107,711,315 $ 99,182,278
Liabilities and Surplus
2016 2015
Loss reserves $ 44,742,900 $ 39,307,513
Other liabilities 14,841,532 16,952,516
Total liabilities $ 59,584,432 $ 56,260,029
Surplus 48,126,883 42,922,249
Total liabilities and surplus $ 107,711,315 $ 99,182,278