| 2024 | 2023 | |
| Premiums earned | 88,836,254 | 76,563,575 |
| Loss and loss adjustment | 49,822,922 | 39,592,098 |
| Underwriting expense | 35,060,569 | 29,806,437 |
| Net underwriting gain (loss) | 3,952,763 | 7,165,039 |
| Net investment income | 8,009,559 | 6,580,080 |
| Net realized capital gains (losses) less tax | 1,832,720 | 3,350,333 |
| Net investment gain (loss) |
9,842,279 | 9,930,413 |
| Other income | 469,463 | 477,796 |
| Net income before federal income tax | 14,264,505 | 17,573,248 |
| Less: federal income tax | 3,411,815 | 3,736,353 |
| Net income | 10,852,690 | 13,836,895 |
| Combined ratio | 90.8% | 87.7% |
| Direct and assumed written premium | 117,386,031 | 94,550,609 |
| 2024 | 2023 | |
| Cash and short-term investments | 20,430,369 | 8,736,632 |
| Bonds | 226,404,849 | 210,686,818 |
| Stocks | 39,035,607 | 35,018,238 |
| Real estate | 1,266,754 | 1,186,256 |
| Premiums in the course of collection | 16,243,609 | 13,294,329 |
| Interest due and accrued | 1,636,537 | 1,557,127 |
| All other assets | 30,939,092 | 27,918,327 |
| Total admitted assets | 335,956,817 | 298,397,727 |
| Liabilities | ||
| Unearned premium | 60,917,639 | 48,884,854 |
| Reserve for losses | 27,297,377 | 20,864,974 |
| Reserve for loss adjustment expense | 5,708,924 | 5,092,105 |
| All other liabilities | 15,347,018 | 12,565,455 |
| Total liabilities | 109,270,958 | 87,407,389 |
| Surplus accounts | ||
| Special contingent surplus | 900,000 | 900,000 |
| Unassigned surplus | 225,785,859 | 210,090,338 |
| Policyholders surplus | 226,685,859 | 210,990,338 |
| Total liability and surplus | 335,956,817 | 298,397,727 |
The results are Sterling Insurance Company and Sterling Insurance Cooperative, Inc. combined
Providing peace of mind and financial stability to our policyholders before, during and after the unexpected occurs. …more.
PAYMENTS ONLY ADDRESS*:
PO BOX 419175
Boston, MA 02241-9175
*Any correspondence should be sent to the address listed at the top of your bill.