| Net premiums earned ($000) |
$162,134,529 |
| Components of underwriting |
As a percent of net
premiums earned |
| Incurred losses |
64.7% |
| Loss adjustment expenses |
12.1 |
| Total loss and loss adjustment expenses |
76.8% |
| Commissions and brokerage expenses incurred |
7.9 |
| Other underwriting expenses incurred |
17.2 |
| Total underwriting expenses incurred |
25.0% |
| Dividends to policyholders |
0.4 |
Investment gains on funds attributable to
insurance transactions and other income |
2.6 |
| Combined ratio after dividends |
102.3 |
| Overall operating ratio (2) |
99.7 |