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Financials

Consolidated Statements of Operations

CONSOLIDATED STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31, 2018 AND 2017

    2018   2017
  Revenue            
  Earned premiums    $ 2,081,668,609    $ 2,031,739,321
  Administrative charges     16,580,451     15,000,113
  Other revenue     12,839,999     8,771,494
  Total revenue     2,111,089,059     2,055,510,928
  Expenses            
  Net claims expense     1,779,362,848     1,787,928,476
  Excess of revenue over claims expense     331,726,211     267,582,452
  General and administrative expenses     288,571,076     248,924,944
  Operating income     43,155,135     18,657,508
  Other income, net            
  Investment income, net     8,707,218     7,508,795
  Realized (losses) gains on investments, net     (302,605)     505,100
  Loss on disposition of property and equipment     (1,793)     (273,526)
  Other income, net     8,402,820     7,740,369
  Net income     51,557,955     26,397,877
  Change in unrealized gains/losses on investments     (7,423,824)     (30,553)
  Increase in total net assets     44,134,131     26,367,324
  Net loss attributable to noncontrolling interest     482,865     751,725
  Increase in Plan net assets     44,616,996     27,119,049
  Noncontrolling interest     (482,865)     (51,725)
  Total net assets - Beginning of Year     359,448,976     332,381,652
  Total net assets - End of Year    $ 403,583,107    $ 359,448,976