b'Assets 2024 2023Bonds $376,449,880$348,987,314 Stocks 105,479,04691,443,637 Real Estate 6,658,0946,751,894 Cash & Short-term Investments 47,998,10822,288,516 Premiums Receivable 55,925,70544,473,474 Other Assets 12,488,27813,481,124 Total Assets $604,999,111$527,425,959 Liabilities & Policyholders Surplus 2024 2023Reserve for Unpaid Loss $112,097,003$97,538,104 Unearned Premiums 161,103,378131,639,121 Other Liabilities 43,322,29032,334,757 Total Liabilities $316,522,671$261,511,982 Policyholders Surplus 288,476,440265,913,977 Total Liabilities & Surplus $604,999,111$527,425,959 Underwriting Income 2024 2023Premiums Earned $348,442,561$279,923,255 Loss & Loss Adjustment Expense (241,388,038)(215,432,789) Underwriting Expense (102,237,330)(86,582,479) Underwriting Gain/(Loss) $4,817,193($22,092,013)Net Investment Income $17,781,102$14,551,909 Other Income 868,122574,083 Federal Income (Tax) or Credit (4,261,396) 1,875,144 Net Income/(Loss) $19,205,021($5,090,877)Operating Ratios 2024 2023Losses Incurred to Premiums Earned 69.3% 77.0%Expense Incurred to Net Premiums Written 27.1% 27.7%Combined Loss & Expense Ratio 96.4% 104.7%'