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 FQ2 YTD
6/30/2016
Balance Sheet ($000)
Cash and Cash Equivalents 118,551 129,383 197,040 241,100 145,169
Investments 3,926,902 4,019,045 4,009,707 3,650,130 3,816,595
Total Assets 4,876,578 5,150,099 5,169,160 4,906,021 4,976,837
Total Policy Reserves 2,288,855 2,328,285 2,404,094 2,367,392 2,378,015
Total Liabilities 2,605,998 2,755,685 3,011,216 2,947,667 2,948,642
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 2,028,195
Total Equity 2,270,580 2,394,414 2,157,944 1,958,354 2,028,195
Equity before Unrealized Gains 2,125,200 2,334,753 2,099,740 1,934,499 1,966,906
Total Equity/ Total Assets(%) 46.56 46.49 41.75 39.92 40.75
Reserves/ Equity(x) 1.01 0.97 1.11 1.21 1.17
Income Statement ($000)
Total Policy Income 550,664 527,919 699,731 694,149 354,312
Net Investment Income 142,134 193,680 139,004 86,489 59,090
Realized Gain on Securities 15,950 11,028 5,193 (15,786) (9,748)
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 715,854 772,492 852,326 772,079 408,189
Total Policy Expense 179,913 224,761 363,084 410,711 217,854
Underwriting & Other Expense 133,937 147,817 213,153 217,917 113,622
Total Expense 319,888 375,333 590,321 643,224 339,013
Net Income 275,470 297,523 196,565 116,197 62,399
Net Income Attributable to Parent 275,470 297,523 196,565 116,197 62,399
Operating Income after Taxes 257,238 221,097 186,367 143,404 60,756
EBITDA 435,720 435,747 315,683 179,851 93,684
Per Share Information ($)
Basic Book Value per Share 36.85 39.13 38.17 36.88 38.12
Book Value per Share before Unrealized Gains 34.49 38.15 37.14 36.43 36.97
Diluted EPS after Extraordinary 4.46 4.80 3.30 2.11 1.17
EBITDA/ Share 7.05 7.03 5.30 3.27 1.76
Operating EPS 4.16 3.56 3.13 2.61 1.14
Price/ LTM Operating Earnings(x) 10.10 13.60 14.40 18.60 21.50
Common Dividends Declared per Share 3.13 1.05 3.86 2.24 0.62
Dividend Payout Ratio(%) 70.07 21.88 116.97 106.16 52.99
EPS after Extra Growth(%) (4.10) 7.60 (31.30) (36.10) (7.10)
Profitability (%)
ROAA 5.53 5.86 3.69 2.31 2.54
Operating ROAA 5.16 4.35 3.50 2.85 2.47
ROAE 12.16 12.66 8.45 5.63 6.27
ROATCE 13.56 14.09 10.04 6.93 NA
Operating ROAE 11.35 9.40 8.01 6.95 6.11
Investment Yield 3.76 4.84 3.35 1.75 2.52
Combined Ratio 57.30 70.60 82.10 90.50 92.80
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 0.37
Growth Rates and Trends (%)
Asset Growth (2.45) 5.61 0.37 (5.09) 2.89
Equity Growth 4.90 5.45 (9.88) (9.25) 7.13
Net Written Premium Growth (5.41) (0.59) 33.64 1.06 (0.39)
Recurring Revenue Growth 0.56 3.40 15.15 (9.42) (0.74)
Net Income Growth (4.05) 8.01 (33.93) (40.89) (12.08)
Assets Five-year CAGR 1.89 3.76 2.15 0.13 0.20
Equity Five-year CAGR 12.57 10.95 4.83 1.08 0.62
Revenue Five-year CAGR 0.28 6.37 4.85 2.21 3.21
Net Income Five-year CAGR 10.36 10.85 (2.41) (12.88) (9.49)
Miscellaneous ($000)
Net Premiums Written 528,298 525,182 701,849 709,285 367,297
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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