LMIC: Financial Summary

Financial Summary

ASSETS	2007	2006
Cash in Banks	$9,876,386	$2,092,424
Bonds	$54,012,379	$52,013,518
Stocks (Market Value)	$183,362,205	$185,858,381
Other Investments	$434,304	$620,482
Real Estate	$3,279,827	$3,296,044
Premium Balances	$3,186,237	$3,140,336
Other Assets	$2,792,139	$4,008,745
TOTAL	$256,943,477	$251,029,930

LIABILITIES
Reserve for Unearned Premium	$34,004,897	$33,357,291
Reserve for Losses & Adjusting	$17,399,441	$16,741,223
Reserve for Deferred Income Taxes	$36,941,037	$38,673,072
Federal Income Tax Payable	$646,431	$1,054,579
Reserve for Other Liabilities	$6,479,339	$6,910,712
Total Liabilities	$95,471,145	$96,736,877
Policyholders Security Account	$161,472,332	$154,293,053
TOTAL	$256,943,477	$251,029,930

OPERATING RESULTS	2007	2006
Premiums Earned	$62,868,234	$61,022,157
Losses Incurred	$32,462,331	$34,281,768
Loss Adjusting Expense	$4,489,577	$4,541,503
Underwriting Expense	$22,081,914	$20,763,470
RESULTS FROM UNDERWRITING	$3,834,412	$1,435,416

Investment Income	$5,013,355	$5,394,517
Realized Capital Gains (Losses)	$5,978,705	$4,310,948
Unrealized Capital Gains (Losses)	($5,791,997)	($19,016,977)
Capital Adjustments	$2,323,800	($6,749,624)
RESULTS FROM INVESTMENTS	$7,523,863	$21,972,818
Federal Income Tax Incurred	$4,178,996	$2,789,248
Net Gain (Loss)	$7,179,279	$20,618,986
POLICYHOLDERS SECURITY ACCOUNT	$161,472,332	$154,293,053