Home » Financial Statements
Statement Of Income | 2021 | 2020 |
Premiums earned | 66,636,795 | 65,430,796 |
Loss and Loss Adjustment | 29,994,360 | 32,349,896 |
Underwriting expense | 23,897,905 | 23,505,895 |
Net underwriting gain (loss) | 12,744,530 | 9,575,005 |
Net investment Income | 4,623,629 | 4,428,152 |
Net realized capital gains (losses) less tax | 1,663,311 | 671,451 |
Net investment gain (loss) | 6,286,940 | 5,099,603 |
Other Income | 712,510 | 959,494 |
Net Income Before Federal Income Tax | 19,743,980 | 15,634,102 |
Less: Federal Income Tax | 3,660,614 | 2,885,512 |
Net Income | 16,083,366 | 12,748,590 |
Combined Ratio | 80.1% | 85.1% |
Direct and Assumed Written Premium | 70,070,331 | 67,827,384 |
Assets | 2021 | 2020 |
Cash and Short-term Investments | 7,734,341 | 9,648,215 |
Bonds | 182,500,435 | 170,060,843 |
Stocks | 38,917,940 | 30,888,867 |
Real Estate | 1,334,990 | 1,396,730 |
Premiums in the course of Collection | 10,132,485 | 10,050,699 |
Interest Due and Accrued | 1,315,435 | 1,369,488 |
All other assets | 25,555,345 | 21,840,047 |
Total Admitted Assets | 267,490,971 | 245,254,889 |
Liabilities | ||
Unearned Premium | 38,574,891 | 37,087,434 |
Reserve for Losses | 19,969,669 | 22,612,155 |
Reserve for Loss Adjustment Expense | 4,086,367 | 4,554,563 |
All other Liabilities | 13,893,503 | 12,405,393 |
Total Liabilities | 76,524,430 | 76,659,545 |
Surplus Accounts | ||
Special Contingent Surplus | 900,000 | 900,000 |
Unassigned Surplus | 190,066,541 | 167,695,344 |
Policyholders Surplus | 190,966,541 | 168,595,344 |
Total Liability and Surplus | 267,490,971 | 245,254,889 |
The results are Sterling Insurance Company and Sterling Insurance Cooperative, Inc. combined
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