Statements of Income
| |
|
Year Ended December 31 |
| |
2006 |
2005 |
| Premiums and other insurance income: |
|
| Life premiums |
$13,888,000 |
$14,408,000 |
| Annuity premiums |
7,965,,000 |
2,664,000 |
| Accident and health |
7,004,000 |
26,093,000 |
| Other insurance income |
173,000 |
232,000 |
| |
|
| Total premium and other income |
$29,030,000 |
$43,397,000 |
| |
|
Allowances on reinsurance ceded
|
$29,063,000
|
$150,000
|
| |
|
|
| Investment income, less investment expenses |
|
|
| (2006: $1,442,000; 2005: $1,442,000) |
$34,265,000 |
$34,939,000 |
| Miscellaneous income |
610,000 |
530,000 |
| |
|
| Total income |
$92,968,000 |
$79,016,000 |
| |
| Benefits paid or provided: |
|
| Life and annuity benefits |
$26,210,000 |
$24,224,000 |
| Accident and health benefits |
5,591,000 |
15,309,000 |
| Dividends to certificate holders |
2,089,000 |
2,038,000 |
| Increase (decrease) in certificate reserves |
|
| Life |
(3,794,000) |
745,000 |
| Annuity |
2,794,000 |
(766,000) |
| Accident and health |
282,000 |
3,711,000 |
| |
|
| Total benefits paid or provided |
$33,222,000 |
$45,261,000 |
| |
|
| |
| Selling, general and administrative expenses: |
|
| Commissions |
$19,887,000 |
$9,217,000 |
| Fraternal, charitable and benevolent expenses |
4,137,000 |
4,093,000 |
| General expenses, taxes, licenses, and fees |
15,010,000 |
18,953,000 |
| |
|
| Total selling, general and administrative expenses |
$39,035,000 |
$32,263,000 |
| |
| Income before net realized capital gains on investments |
$20,710,000 |
$1,492,000 |
| |
|
| |
| Net realized capital gains on investments |
$3,062,000 |
$1,356,000 |
| |
|
| |
| Net income (loss) |
$23,774,000 |
$2,848,000 |
|
|