Financial Highlights

Financial Highlights
2019 FY
12/31/2019
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 25,508 11,906 7,627 16,670 15,509
Investments 6,639,233 8,250,677 8,352,348 7,999,372 7,648,030
Total Assets 12,478,704 11,031,896 11,198,340 10,576,824 10,056,972
Total Policy Reserves 7,603,752 7,152,120 6,906,284 6,733,081 6,376,055
Total Liabilities 10,911,419 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 1,567,285 1,290,550 1,501,573 1,293,982 1,264,661
Total Equity 1,567,285 1,290,550 1,501,573 1,293,982 1,264,661
Equity before Unrealized Gains 1,336,837 1,193,609 1,201,396 1,118,244 1,089,494
Total Equity/ Total Assets(%) 12.56 11.70 13.41 12.23 12.57
Reserves/ Equity(x) 4.85 5.54 4.60 5.20 5.04
Income Statement ($000)
Total Policy Income 897,954 817,333 794,703 759,146 731,880
Net Investment Income 360,981 380,326 375,088 360,133 333,646
Realized Gain on Securities 157,423 (16,362) (4,864) 5,176 11,667
Asset Management and Brokerage Fees 0 0 0 0 0
Total Revenue 1,430,485 1,191,599 1,171,550 1,128,910 1,080,448
Total Policy Expense 797,854 843,759 780,941 733,026 679,206
Underwriting & Other Expense 380,605 315,302 289,974 269,844 256,330
Total Expense 1,194,036 1,172,062 1,082,863 1,014,678 950,996
Net Income 184,443 18,343 169,459 83,765 93,482
Net Income Attributable to Parent 184,443 18,343 169,459 83,765 93,482
Operating Income after Taxes 92,200 28,400 72,100 81,500 84,900
EBITDA 267,655 39,895 107,250 132,936 150,308
Per Share Information ($)
Basic Book Value per Share 38.01 31.50 36.88 32.15 31.18
Book Value per Share before Unrealized Gains 32.42 29.13 29.51 27.79 26.86
Diluted EPS after Extraordinary 4.40 0.44 4.08 2.02 2.20
EBITDA/ Share 6.39 0.96 2.58 3.21 3.54
Operating EPS 2.20 0.68 1.74 1.97 2
Price/ LTM Operating Earnings(x) 19.80 55.10 25.30 21.70 16.60
Common Dividends Declared per Share 1.15 1.14 1.10 1.06 1
Dividend Payout Ratio(%) 26.14 259.09 26.96 52.48 45.45
EPS after Extra Growth(%) 900 (89.20) 102 (8.20) (10.90)
Profitability (%)
ROAA 1.56 0.16 1.56 0.80 0.94
Operating ROAA 0.78 0.25 0.66 0.78 0.85
ROAE 12.44 1.34 12.39 6.12 7.02
ROATCE 15.69 1.39 12.83 6.34 7.28
Operating ROAE 6.22 2.08 5.27 5.95 6.38
Investment Yield 7.09 4.41 4.50 4.56 4.57
Combined Ratio 96.50 109.30 103.30 101.50 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) 0.89 0.91 0.90 0.92 0.94
Growth Rates and Trends (%)
Asset Growth 13.11 (1.49) 5.88 5.17 2.95
Equity Growth 21.44 (14.05) 16.04 2.32 (5.37)
Net Written Premium Growth 7.25 0.65 (2.80) 0.48 7.61
Recurring Revenue Growth 20.05 1.71 3.78 4.49 1.86
Net Income Growth 905.52 (89.18) 102.30 (10.39) (10.32)
Assets Five-year CAGR 5.02 4.56 6.51 7.29 7.68
Equity Five-year CAGR 3.24 3.26 3.80 4.16 8.34
Revenue Five-year CAGR 6.16 2.93 2.99 2.49 2.08
Net Income Five-year CAGR 12.08 (30.21) 10.28 3.50 3.13
Miscellaneous ($000)
Net Premiums Written 1,324,542 1,235,043 1,227,117 1,262,499 1,256,513
Gross Life Insurance in Force 19,179,823 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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