Financial Highlights

Financial Highlights
2012 FY
12/31/2012
2013 FY
12/31/2013
2014 FY
12/31/2014
2015 FY
12/31/2015
2016 FQ3 YTD
9/30/2016
Balance Sheet ($000)
Cash and Cash Equivalents 118,551 129,383 197,040 241,100 128,903
Investments 3,926,902 4,019,045 4,009,707 3,650,130 3,849,956
Total Assets 4,876,578 5,150,099 5,169,160 4,906,021 5,015,775
Total Policy Reserves 2,288,855 2,328,285 2,404,094 2,367,392 2,404,503
Total Liabilities 2,605,998 2,755,685 3,011,216 2,947,667 2,973,608
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 2,270,580 2,394,414 2,157,944 1,958,354 2,042,167
Total Equity 2,270,580 2,394,414 2,157,944 1,958,354 2,042,167
Equity before Unrealized Gains 2,125,200 2,334,753 2,099,740 1,934,499 1,985,852
Total Equity/ Total Assets(%) 46.56 46.49 41.75 39.92 40.71
Reserves/ Equity(x) 1.01 0.97 1.11 1.21 1.18
Income Statement ($000)
Total Policy Income 550,664 527,919 699,731 694,149 539,587
Net Investment Income 142,134 193,680 139,004 86,489 92,422
Realized Gain on Securities 15,950 11,028 5,193 (15,786) (5,431)
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 715,854 772,492 852,326 772,079 632,541
Total Policy Expense 179,913 224,761 363,084 410,711 335,936
Underwriting & Other Expense 133,937 147,817 213,153 217,917 172,630
Total Expense 319,888 375,333 590,321 643,224 519,851
Net Income 275,470 297,523 196,565 116,197 96,233
Net Income Attributable to Parent 275,470 297,523 196,565 116,197 96,233
Operating Income after Taxes 257,238 221,097 186,367 143,404 85,398
EBITDA 435,720 435,747 315,683 179,851 149,484
Per Share Information ($)
Basic Book Value per Share 36.85 39.13 38.17 36.88 38.38
Book Value per Share before Unrealized Gains 34.49 38.15 37.14 36.43 37.32
Diluted EPS after Extraordinary 4.46 4.80 3.30 2.11 1.80
EBITDA/ Share 7.05 7.03 5.30 3.27 2.80
Operating EPS 4.16 3.56 3.13 2.61 1.60
Price/ LTM Operating Earnings(x) 10.10 13.60 14.40 18.60 22.60
Common Dividends Declared per Share 3.13 1.05 3.86 2.24 0.93
Dividend Payout Ratio(%) 70.07 21.88 116.97 106.16 51.67
EPS after Extra Growth(%) (4.10) 7.60 (31.30) (36.10) 23.30
Profitability (%)
ROAA 5.53 5.86 3.69 2.31 2.60
Operating ROAA 5.16 4.35 3.50 2.85 2.30
ROAE 12.16 12.66 8.45 5.63 6.40
ROATCE 13.56 14.09 10.04 6.93 NA
Operating ROAE 11.35 9.40 8.01 6.95 5.68
Investment Yield 3.76 4.84 3.35 1.75 2.95
Combined Ratio 57.30 70.60 82.10 90.50 93.20
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) 0.23 0.22 0.30 0.34 0.38
Growth Rates and Trends (%)
Asset Growth (2.45) 5.61 0.37 (5.09) 2.98
Equity Growth 4.90 5.45 (9.88) (9.25) 5.71
Net Written Premium Growth (5.41) (0.59) 33.64 1.06 (1.51)
Recurring Revenue Growth 0.56 3.40 15.15 (9.42) 7.91
Net Income Growth (4.05) 8.01 (33.93) (40.89) 18.44
Assets Five-year CAGR 1.89 3.76 2.15 0.13 0.11
Equity Five-year CAGR 12.57 10.95 4.83 1.08 0.20
Revenue Five-year CAGR 0.28 6.37 4.85 2.21 4.38
Net Income Five-year CAGR 10.36 10.85 (2.41) (12.88) (8.05)
Miscellaneous ($000)
Net Premiums Written 528,298 525,182 701,849 709,285 573,071
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.
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