Financial Highlights

Financial Highlights
2014 FY
12/31/2014
2015 FY
12/31/2015
2016 FY
12/31/2016
2017 FY
12/31/2017
2018 FQ2 YTD
6/30/2018
Balance Sheet ($000)
Cash and Cash Equivalents 197,040 241,100 117,347 134,495 66,715
Investments 4,009,707 3,650,130 3,925,696 3,686,528 3,353,804
Total Assets 5,167,375 4,906,021 5,065,181 4,929,197 4,583,464
Total Policy Reserves 2,404,094 2,367,392 2,365,991 2,447,265 2,499,882
Total Liabilities 3,009,431 2,947,667 3,266,479 3,334,402 3,008,848
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 2,157,944 1,958,354 1,798,702 1,594,795 1,574,616
Total Equity 2,157,944 1,958,354 1,798,702 1,594,795 1,574,616
Equity before Unrealized Gains 2,099,740 1,934,499 1,781,303 1,579,884 1,590,759
Total Equity/ Total Assets(%) 41.76 39.92 35.51 32.35 34.35
Reserves/ Equity(x) 1.11 1.21 1.32 1.53 1.59
Income Statement ($000)
Total Policy Income 699,731 694,149 733,281 738,531 410,750
Net Investment Income 139,004 86,489 132,543 128,544 42,138
Realized Gain on Securities 5,193 (15,786) (3,418) (8,440) (430)
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 852,326 772,079 870,214 866,149 457,225
Total Policy Expense 363,084 410,711 443,229 469,158 291,515
Underwriting & Other Expense 213,153 217,917 235,752 251,524 121,501
Total Expense 590,321 643,224 694,013 737,526 420,679
Net Income 196,565 116,197 151,081 107,264 40,279
Net Income Attributable to Parent 196,565 116,197 151,081 107,264 40,279
Operating Income after Taxes* 186,367 142,629 129,844 108,538 47,440
EBITDA 315,683 179,669 224,022 174,263 55,245
Per Share Information ($)
Basic Book Value per Share 38.17 36.88 33.78 29.83 29.37
Book Value per Share before Unrealized Gains 37.14 36.43 33.45 29.55 29.67
Diluted EPS after Extraordinary 3.30 2.11 2.83 2 0.75
EBITDA/ Share 5.30 3.26 4.20 3.25 1.03
Operating EPS* 3.13 2.59 2.43 2.02 0.88
Price/ LTM Operating Earnings*(x) 14.40 18.70 23.10 28.30 18.90
Common Dividends Declared per Share 3.86 2.24 5.93 5.93 0.62
Dividend Payout Ratio(%) 116.97 106.16 209.54 296.50 82.67
EPS after Extra Growth(%) (31.30) (36.10) 34.10 (29.30) (34.20)
Profitability (%)
ROAA 3.69 2.31 3.04 2.18 1.71
Operating ROAA* 3.50 2.84 2.61 2.21 2.01
ROAE 8.45 5.63 7.62 5.95 5.11
ROATCE 10.04 6.93 9.28 7.36 NA
Operating ROAE* 8.01 6.91 6.55 6.02 6.02
Investment Yield 3.35 1.75 3.27 3.12 2.33
Combined Ratio 82.10 90.50 91.40 95.40 99.50
P&C Stat Combined Ratio after Dividends NA NA NA NA NA
Reported Medical Care Ratio NA NA NA NA NA
Net Premiums Written/ Avg Equity(x) 0.30 0.34 0.37 0.42 0.54
Growth Rates and Trends (%)
Asset Growth 0.38 (5.06) 3.24 (2.68) (14.03)
Equity Growth (9.88) (9.25) (8.15) (11.34) (2.53)
Net Written Premium Growth 33.64 1.06 4.12 3.45 11.33
Recurring Revenue Growth 15.15 (9.42) 12.71 (0.47) 6.68
Net Income Growth (33.93) (40.89) 30.02 (29) (33.94)
Assets Five-year CAGR 2.14 0.13 0.26 0.22 (2.16)
Equity Five-year CAGR 4.83 1.08 (3.63) (6.82) (7.59)
Revenue Five-year CAGR 4.85 2.21 3.95 3.88 2.64
Net Income Five-year CAGR (2.41) (12.88) (12.04) (17.18) (24.41)
Miscellaneous ($000)
Net Premiums Written 701,849 709,285 738,533 764,018 422,901
Gross Life Insurance in Force 0 0 0 0 0
Total Membership(actual) 0 0 0 0 0
Assets Under Management 0 0 0 0 0
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
*Non-GAAP Measure
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