Financial Highlights

Financial Highlights
2019 FQ3 YTD
9/30/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
Balance Sheet ($000)
Cash and Cash Equivalents 39,349 11,906 7,627 16,670 15,509
Investments 6,732,990 8,250,677 8,352,348 7,999,372 7,648,030
Total Assets 12,332,545 11,031,896 11,198,340 10,576,824 10,056,972
Total Policy Reserves 7,578,220 7,152,120 6,906,284 6,733,081 6,376,055
Total Liabilities 10,753,933 9,741,346 9,696,767 9,282,842 8,792,311
Total Mezzanine Level Items 0 0 0 0 0
Equity Attributable to Parent Company 1,578,612 1,290,550 1,501,573 1,293,982 1,264,661
Total Equity 1,578,612 1,290,550 1,501,573 1,293,982 1,264,661
Equity before Unrealized Gains 1,312,231 1,193,609 1,201,396 1,118,244 1,089,494
Total Equity/ Total Assets(%) 12.80 11.70 13.41 12.23 12.57
Reserves/ Equity(x) 4.80 5.54 4.60 5.20 5.04
Income Statement ($000)
Total Policy Income 657,562 817,333 794,703 759,146 731,880
Net Investment Income 279,329 380,326 375,088 360,133 333,646
Realized Gain on Securities 151,594 (16,362) (4,864) 5,176 11,667
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 1,099,109 1,191,599 1,171,550 1,128,910 1,080,448
Total Policy Expense 606,359 843,759 780,941 733,026 679,206
Underwriting & Other Expense 285,490 315,302 289,974 269,844 256,330
Total Expense 903,072 1,172,062 1,082,863 1,014,678 950,996
Net Income 151,442 18,343 169,459 83,765 93,482
Net Income Attributable to Parent 151,442 18,343 169,459 83,765 93,482
Operating Income after Taxes 60,500 28,400 72,100 81,500 84,900
EBITDA NA 39,895 107,250 132,936 150,308
Per Share Information ($)
Basic Book Value per Share 38.30 31.50 36.88 32.15 31.18
Book Value per Share before Unrealized Gains 31.84 29.13 29.51 27.79 26.86
Diluted EPS after Extraordinary 3.61 0.44 4.08 2.02 2.20
EBITDA/ Share NA 0.96 2.58 3.21 3.54
Operating EPS 1.44 0.68 1.74 1.97 2
Price/ LTM Operating Earnings(x) 37.70 55.10 25.30 21.70 16.60
Common Dividends Declared per Share 0.86 1.14 1.10 1.06 1
Dividend Payout Ratio(%) 23.89 259.09 33.70 52.48 45.45
EPS after Extra Growth(%) 288.20 (89.20) 102 (8.20) (10.90)
Profitability (%)
ROAA 1.73 0.16 1.56 0.80 0.94
Operating ROAA 0.69 0.25 0.66 0.78 0.85
ROAE 13.90 1.34 12.39 6.12 7.02
ROATCE 17.31 1.39 12.83 6.34 7.28
Operating ROAE 5.55 2.08 5.27 5.95 6.38
Investment Yield 7.66 4.41 4.50 4.56 4.57
Combined Ratio 98.50 109.30 103.30 101.50 97
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) 0.90 0.91 0.90 0.92 0.94
Growth Rates and Trends (%)
Asset Growth 15.72 (1.49) 5.88 5.17 2.95
Equity Growth 29.76 (14.05) 16.04 2.32 (5.37)
Net Written Premium Growth 5.90 0.65 (2.80) 0.48 7.61
Recurring Revenue Growth 20.38 1.71 3.78 4.49 1.86
Net Income Growth 292.34 (89.18) 102.30 (10.39) (10.32)
Assets Five-year CAGR 5.04 4.56 6.51 7.29 7.68
Equity Five-year CAGR 4.15 3.26 3.80 4.16 8.34
Revenue Five-year CAGR 6.78 2.93 2.99 2.49 2.08
Net Income Five-year CAGR 15.34 (30.21) 10.28 3.50 3.13
Miscellaneous ($000)
Net Premiums Written 978,301 1,235,043 1,227,117 1,262,499 1,256,513
Gross Life Insurance in Force 18,937,000 18,277,691 17,564,270 17,025,125 16,504,539
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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