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Financials

Consolidated Statements of Operations

 

For the Years Ended December 31
2017
2016
Revenue    
Earned premiums $ 2,031,739,321
$ 2,149,571,562
Administrative charges 15,000,113 13,673,519
Other revenue 8,771,494
995,864
Total revenue 2,055,510,928
2,164,240,945
Expenses    
Net claims expense 1,787,928,476
1,901,614,318
Change in premium deficiency reserves
-
(7,570,000)
Total claims expense
1,787,928,476
1,894,044,318
Excess of revenues over claims expense 267,582,452
270,196,627
General and administrative expenses 248,924,944
263,900,925
Operating income
18,657,508
6,295,702
 
Other income , net
   
Investment income, net 7,508,795
7,146,858
Realized gains on investments, net 505,100
867,958
 Loss on disposition of property and equipment
(273,526)
-
Other income, net 7,740,369
8,014,816
Net income
26,397,877
14,310,518
Change in unrealized gains (losses) on investments (30,553)
(610,635)
Increase in total net assets   26,367,324
  13,699,883
Net loss attributable to noncontrolling interest
751,725
-
Increase in Plan net assets
27,119,049
13,699,883
Noncontrolling interest
(51,725)
-
Total net assets - Beginning of Year
332,381,652 318,681,769
Total net assets - End of Year
$  359,448,976
$  332,381,652