Balance Sheet

Statutory Balance Sheet

Admitted Assets

  2024 2023
Investments    
Bonds $ 854,081,850 $ 777,942,837
Preferred stocks 9,371,744 10,317,991
Common stocks    
Unaffiliated 6,713,877 3,828,300
Affiliated 16,022,015 15,486,029
Mortgage loans 2,774,223 2,982,747
Policy loans 6,714,918 6,706,097
Cash and short term 67,619,308 59,963,328
Other invested assets 62,723,847 54,788,340
Receivable for securities - 4,260,000
Premiums due and deferred 34,085,649 30,734,389
Investment income due and accrued 7,317,767 7,827,590
Receivable from affiliates 8,740,912 6,608,720
Due from reinsurance and other companies 27,982,585 19,410,617
State Guaranty Fund Deposits 1,148,548 1,360,413
Federal and state tax recoverable 2,625,283 3,635,043
From separate accounts statement 3,551,306 4,670,404
Admitted disallowed IMR 3,029,497 2,922,299
Total Admitted Assets $ 1,114,503,329 $ 1,013,445,144

Liability and Reserves

Policy reserves $ 432,035,968 $ 438,937,966
Claims reserves 30,241,570 29,201,134
Advance premiums and unapplied receipts 33,773,239 27,447,140
Due to reinsurers and other companies 85,789,720 66,980,308
Commissions, taxes and general expenses due and accrued 9,196,004 9,919,397
Interest maintenance reserve 34,539 49,057
Advances from Federal Home Loan Bank 134,992,312 71,600,000
Asset valuation reserve 19,610,052 16,616,281
Federal income tax payable 64,560 59,919
From separate accounts statement 3,551,306 4,670,404
Total Liabilities and Reserves $ 749,289,270 $ 665,481,606

Capital and Surplus

Capital stock -- 1,000,000 shares $ 2,500,000 $ 2,500,000
Preferred stock 3,000,000 3,000,000
Paid-in surplus 2,538,289 2,499,421
Special surplus - admitted IMR asset 3,029,497 2,922,299
Unassigned surplus 364,868,930 347,681,471
Treasury stock, at cost (10,722,657) (10,639,653)
Total Capital and Surplus $ 365,214,059 $ 309,890,022
Total Liabilities, Capital and Surplus $ 1,114,503,329 $ 1,013,445,144