Financial Highlights

Financial Highlights
2013 FY
12/31/2013
2014 FY
12/31/2014
2015 FY
12/31/2015
2016 FY
12/31/2016
2017 FQ3 YTD
9/30/2017
Balance Sheet ($000)
Cash and Cash Equivalents 129,383 197,040 241,100 117,347 119,005
Investments 4,019,045 4,009,707 3,650,130 3,925,696 3,671,838
Total Assets 5,147,794 5,167,375 4,906,021 5,065,181 4,925,154
Total Policy Reserves 2,328,285 2,404,094 2,367,392 2,365,991 2,462,707
Total Liabilities 2,753,380 3,009,431 2,947,667 3,266,479 3,074,264
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 2,394,414 2,157,944 1,958,354 1,798,702 1,850,890
Total Equity 2,394,414 2,157,944 1,958,354 1,798,702 1,850,890
Equity before Unrealized Gains 2,334,753 2,099,740 1,934,499 1,781,303 1,825,431
Total Equity/ Total Assets(%) 46.51 41.76 39.92 35.51 37.58
Reserves/ Equity(x) 0.97 1.11 1.21 1.32 1.33
Income Statement ($000)
Total Policy Income 527,919 699,731 694,149 733,281 555,559
Net Investment Income 193,680 139,004 86,489 132,543 93,768
Realized Gain on Securities 11,028 5,193 (15,786) (3,418) 3,123
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 772,492 852,326 772,079 870,214 657,031
Total Policy Expense 224,761 363,084 410,711 443,229 364,058
Underwriting & Other Expense 147,817 213,153 217,917 235,752 186,182
Total Expense 375,333 590,321 643,224 694,013 562,642
Net Income 297,523 196,565 116,197 151,081 89,922
Net Income Attributable to Parent 297,523 196,565 116,197 151,081 89,922
Operating Income after Taxes 221,097 186,367 142,629 129,844 79,020
EBITDA 435,747 315,683 179,669 224,022 127,815
Per Share Information ($)
Basic Book Value per Share 39.13 38.17 36.88 33.78 34.65
Book Value per Share before Unrealized Gains 38.15 37.14 36.43 33.45 34.18
Diluted EPS after Extraordinary 4.80 3.30 2.11 2.83 1.68
EBITDA/ Share 7.03 5.30 3.26 4.20 2.39
Operating EPS 3.56 3.13 2.59 2.43 1.47
Price/ LTM Operating Earnings(x) 13.60 14.40 18.70 23.10 23.80
Common Dividends Declared per Share 1.05 3.86 2.24 5.93 0.93
Dividend Payout Ratio(%) 21.88 116.97 106.16 209.54 55.36
EPS after Extra Growth(%) 7.60 (31.30) (36.10) 34.10 (6.70)
Profitability (%)
ROAA 5.86 3.69 2.31 3.04 2.44
Operating ROAA 4.36 3.50 2.84 2.61 2.15
ROAE 12.66 8.45 5.63 7.62 6.55
ROATCE 14.09 10.04 6.93 9.28 NA
Operating ROAE 9.40 8.01 6.91 6.55 5.76
Investment Yield 4.84 3.35 1.75 3.27 3.35
Combined Ratio 70.60 82.10 90.50 91.40 96.50
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) 0.22 0.30 0.34 0.37 0.43
Growth Rates and Trends (%)
Asset Growth 5.57 0.38 (5.06) 3.24 (3.69)
Equity Growth 5.45 (9.88) (9.25) (8.15) 3.87
Net Written Premium Growth (0.59) 33.64 1.06 4.12 4.10
Recurring Revenue Growth 3.40 15.15 (9.42) 12.71 3.87
Net Income Growth 8.01 (33.93) (40.89) 30.02 (6.56)
Assets Five-year CAGR 3.75 2.14 0.13 0.26 (0.19)
Equity Five-year CAGR 10.95 4.83 1.08 (3.63) (4.66)
Revenue Five-year CAGR 6.37 4.85 2.21 3.95 4.77
Net Income Five-year CAGR 10.85 (2.41) (12.88) (12.04) (12.38)
Miscellaneous ($000)
Net Premiums Written 525,182 701,849 709,285 738,533 596,584
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
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