Financial Highlights

Financial Highlights
2015 FY
12/31/2015
2016 FY
12/31/2016
2017 FY
12/31/2017
2018 FY
12/31/2018
2019 FQ3 YTD
9/30/2019
Balance Sheet ($000)
Cash and Cash Equivalents 241,100 117,347 134,495 80,471 102,211
Investments 3,650,130 3,925,696 3,686,528 3,349,382 3,496,074
Total Assets 4,906,021 5,065,181 4,929,197 4,600,726 4,824,359
Total Policy Reserves 2,367,392 2,365,991 2,447,265 2,535,058 2,675,035
Total Liabilities 2,947,667 3,266,479 3,334,402 3,077,724 3,234,901
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 1,958,354 1,798,702 1,594,795 1,523,002 1,589,458
Total Equity 1,958,354 1,798,702 1,594,795 1,523,002 1,589,458
Equity before Unrealized Gains 1,934,499 1,781,303 1,579,884 1,539,913 1,550,324
Total Equity/ Total Assets(%) 39.92 35.51 32.35 33.10 32.95
Reserves/ Equity(x) 1.21 1.32 1.53 1.66 1.68
Income Statement ($000)
Total Policy Income 694,149 733,281 738,531 818,853 633,086
Net Investment Income 85,593 133,478 129,526 57,691 108,405
Realized Gain on Securities (14,890) (4,353) (9,422) (347) 1,457
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 772,079 870,214 866,149 886,030 750,367
Total Policy Expense 410,711 443,229 469,158 593,210 489,808
Underwriting & Other Expense 217,917 235,752 251,524 247,678 187,335
Total Expense 643,224 694,013 737,526 857,005 689,993
Net Income 116,197 151,081 107,264 47,057 60,378
Net Income Attributable to Parent 116,197 151,081 107,264 47,057 60,378
Operating Income after Taxes* 142,629 129,844 108,538 79,527 24,567
EBITDA 179,669 224,022 174,263 66,397 87,297
Per Share Information ($)
Basic Book Value per Share 36.88 33.78 29.83 28.39 29.56
Book Value per Share before Unrealized Gains 36.43 33.45 29.55 28.71 28.84
Diluted EPS after Extraordinary 2.11 2.83 2 0.88 1.12
EBITDA/ Share 3.26 4.20 3.25 1.24 1.62
Operating EPS* 2.59 2.43 2.02 1.48 0.46
Price/ LTM Operating Earnings*(x) 18.70 23.10 28.30 27.40 62.90
Common Dividends Declared per Share 2.24 5.93 5.93 1.74 0.93
Dividend Payout Ratio(%) 106.16 209.54 296.50 197.73 83.04
EPS after Extra Growth(%) (36.10) 34.10 (29.30) (56) (15.80)
Profitability (%)
ROAA 2.31 3.04 2.18 1.01 1.70
Operating ROAA* 2.84 2.61 2.21 1.70 0.69
ROAE 5.63 7.62 5.95 2.99 5.14
ROATCE 6.93 9.28 7.36 4.05 NA
Operating ROAE* 6.91 6.55 6.02 5.06 2.09
Investment Yield 1.75 3.27 3.12 1.63 4.16
Combined Ratio 90.50 91.40 95.40 101.50 106.80
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) 0.34 0.37 0.42 0.53 0.56
Growth Rates and Trends (%)
Asset Growth (5.06) 3.24 (2.68) (6.66) 6.48
Equity Growth (9.25) (8.15) (11.34) (4.50) 5.82
Net Written Premium Growth 1.06 4.12 3.45 9.28 1.77
Recurring Revenue Growth (9.42) 12.71 (0.47) 2.30 6.20
Net Income Growth (40.89) 30.02 (29) (56.13) (15.56)
Assets Five-year CAGR 0.13 0.26 0.22 (2.22) (1.96)
Equity Five-year CAGR 1.08 (3.63) (6.82) (8.65) (7.29)
Revenue Five-year CAGR 2.21 3.95 3.88 2.78 3.42
Net Income Five-year CAGR (12.88) (12.04) (17.18) (30.83) (14.40)
Miscellaneous ($000)
Net Premiums Written 709,285 738,533 764,018 834,914 663,784
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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