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Financial Strength
2016 2015
Direct Written Premium 19,082,413.00 18,963,042.00
Net Written Premium 17,066,242.00 16,635,728.00
Net Earned Premium 16,999,895.00 16,685,543.00
Net Investment Income 1,980,044.00 1,111,013.00
Other Income 274,015.00 246,511.00
Losses Incurred and Expenses 11,499,196.00 8,710,536.00
Underwriting Expense 7,171,837.00 6,838,263.00
Net Income 483,297.00 1,772,176.00
Admitted Assets 64,032,552.00 58,364,576.00
Liabilities 23,304,038.00 18,843,336.00
Surplus 40,728,514.00 39,521,240.00
Key Indicators
Incurred Loss Ratio 67.6% 52.2%
Combined Ratio 109.7%** 93.3%
A.M. Best Rating A A
Direct Written Premium (in Millions)
2011 14.1
2012 15.3
2013 15.9
2014 17.0
2015 16.7
2016 19.0

20

15

10

5

Policyholder Surplus (In Millions)
2011 27.1
2012 29.8
2013 33.1
2014 35.7
2015 37.1
2016 40.7

50

40

30

20

10

**Looking at financials for the past five years, 2016 represents a “blip” in Allegany Insurance Group results due to an extraordinary last minute judgment from a decade old labor law case, inflating the Combined Ratio to 109.7% - much higher than the previous four year average of around 90%. Despite this, the group shows that it is financially sound and strong, with 2016 growth in Direct Written Premium, Surplus and Investment Income. This is underscored by the 2017 A. M. Best rating of “A Stable,” the 26th year in a row in which the group has attained this rating.