Financials

Consolidated Statements of Operations

CONSOLIDATED STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018

      2019     2018
Revenue            
Earned premiums   $ 2,168,002,118   $ 2,081,668,609
Administrative charges     17,287,805     16,580,451
Other revenue     14,722,622     12,839,999
Total revenue     2,200,012,545     2,111,089,059
Expenses            
Net claims expense     1,908,285,172     1,779,362,848
Change in premium deficiency reserves     14,500,000     -
Total claims expense     1,922,785,172     1,779,362,848
Excess of revenue over claims expense     277,227,373     331,726,211
General and administrative expenses     275,996,326     288,571,076
Operating income     1,231,047     43,155,135
Other income, net            
Investment income, net     11,471,734     8,707,218
Recognized gains (losses) on investments, net     6,550,123     (302,605)
Loss on disposition of property and equipment     -     (1,793)
Other income, net     18,021,857     8,402,820
Net income     19,252,904     51,557,955
Change in unrealized gains/losses on investments     12,334,493     (7,423,824)
Increase in total net assets     31,587,397     44,134,131
Net (gain) loss attributable to noncontrolling interest     (534,590)     482,865
Increase in Plan net assets     31,052,807     44,616,996
Noncontrolling interest     534,590     (482,865)
Total net assets - Beginning of Year     403,583,107     359,448,976
Total net assets - End of Year   $ 435,170,504   $ 403,583,107