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Financial Highlights

Financial Highlights
2017 FQ1 YTD
3/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
2014 FY
12/31/2014
2013 FY
12/31/2013
Balance Sheet ($000)
Cash and Cash Equivalents 69,361 92,800 62,483 84,541 134,211
Investments 1,523,103 1,483,714 1,476,053 1,527,054 1,448,027
Total Assets 2,439,283 2,402,601 2,385,135 2,382,998 2,315,263
Total Policy Reserves 1,320,237 1,299,802 1,286,614 1,257,437 1,212,581
Total Liabilities 1,730,113 1,703,414 1,697,540 1,685,339 1,658,505
Equity Attributable to Parent Company 709,170 699,187 687,595 697,659 656,758
Total Equity 709,170 699,187 687,595 697,659 656,758
Equity before Unrealized Gains 695,333 691,951 680,398 674,277 640,093
Total Equity/ Total Assets(%) 29.07 29.10 28.83 29.28 28.37
Reserves/ Equity(x) 1.86 1.86 1.87 1.80 1.85
Income Statement ($000)
Total Policy Income 341,368 1,391,664 1,346,564 1,325,935 1,302,525
Net Investment Income 8,695 35,537 36,800 35,629 35,546
Realized Gain on Securities 509 3,145 2,809 4,284 6,026
Total Revenue 377,796 1,538,707 1,484,032 1,461,709 1,443,232
Total Policy Expense 270,676 1,096,755 1,036,001 1,001,628 1,017,247
Underwriting & Other Expense 88,532 365,783 359,170 362,955 366,995
Total Expense 362,720 1,476,575 1,409,200 1,378,572 1,398,154
Net Income 10,646 43,085 51,481 57,201 32,633
Net Income Attributable to Parent 10,646 43,085 51,481 57,201 32,633
Operating Income after Taxes 10,315 41,041 49,655 54,417 28,511
EBITDA 27,939 111,212 123,571 130,070 86,956
Per Share Information ($)
Basic Book Value per Share 64.16 63.31 61.66 60.75 57.09
Book Value per Share before Unrealized Gains 62.91 62.66 61.01 58.72 55.64
Diluted EPS after Extraordinary 0.96 3.88 4.51 4.95 2.80
EBITDA/ Share 2.52 10.02 10.83 11.26 7.46
Operating EPS 0.93 3.70 4.35 4.71 2.45
Price/ LTM Operating Earnings(x) 24.20 23.80 18.90 16.40 29.30
Common Dividends Declared per Share 0.58 2.08 1.72 1.44 1.20
Dividend Payout Ratio(%) 60.42 53.61 38.14 29.09 42.86
EPS after Extra Growth(%) 39.10 (14) (8.90) 76.80 37.30
Profitability (%)
ROAA 1.76 1.78 2.11 2.40 1.43
Operating ROAA 1.70 1.69 2.04 2.29 1.25
ROAE 6.05 6.18 7.36 8.46 5.02
ROATCE 6.77 6.92 8.24 9.51 5.67
Operating ROAE 5.86 5.88 7.09 8.04 4.38
Investment Yield 2.32 2.48 2.48 2.49 2.70
Combined Ratio 96.57 96.69 95.61 95.10 97.95
P&C Stat Combined Ratio after Dividends 95.40 95.27 94.04 93.56 96.04
Net Premiums Written/ Avg Equity(x) 2.09 2 1.96 1.99 2.04
Growth Rates and Trends (%)
Asset Growth 6.11 0.73 0.09 2.93 0.60
Equity Growth 5.71 1.69 (1.44) 6.23 0.08
Net Written Premium Growth (0.97) 1.40 1.91 1.33 6.63
Recurring Revenue Growth 2.06 3.68 1.53 1.28 7.17
Net Income Growth 38.12 (16.31) (10) 75.29 34.19
Assets Five-year CAGR 3.88 4.47 5.25 5.69 5.88
Equity Five-year CAGR 1.20 1.10 0.97 2.45 4.56
Revenue Five-year CAGR 3.89 7.48 9.07 10.59 9.16
Net Income Five-year CAGR 19.90 0.59 (10.77) (4.12) 11.12
Miscellaneous ($000)
Net Premiums Written 368,094 1,392,459 1,373,287 1,347,604 1,329,892
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