Tuscarora Wayne Insurance Company
Summary Statutory Financial Results
2019 2018
Assets:
Bonds $63,850,211 $64,360,016
Equities 26,560,828 25,390,811
Cash and Short Term Investments 4,086,899 5,850,552
Premiums Due 12,933,991 11,685,707
Other Assets 6,740,420 7,542,076
Total Admitted Assets $114,172,349 $114,829,162
Liabilities:
Unpaid Loss and Loss adjusting Expenses $11,952,881 $16,101,447
Unearned Premiums 25,298,170 23,393,279
Other Liabilities 5,306,909 5,122,785
Total Statutory Liabilities $42,557,960 $44,617,511
Capital $71,614,389 $70,211,651
Total Liabilities and Capital $114,172,349 $114,829,162
Statement of Statutory Income 2019 2018
Net Premiums Earned $43,644,437 $42,470,481
Loss and Loss adjustment expenses  21,514,149 19,414,011
Other Underwriting Expenses 18,794,998 18,114,389
Total Insurance Operations Income $3,335,290 $4,942,081
Investment Income $3,151,243 $1,825,985  
Other Income $282,253 $289,133
Income Tax $1,135,415 $1,451,582
Net Income $5,633,371 $5,605,617
 Statutory Combined Ratio 91.0% 87.6%

Did You Know?

In dealing with claims, TW relies on a network of adjusters with Chief Claims Officer Dave Schweitzer at the helm. Schweitzer says there were about 2,200 claims between TW and Keystone National Insurance Company in the previous year, with in-house adjusters handling about 58 percent of them. The rest are handled by independents, a number of whom have draft authority of up to $5,000 for quick payment of damages.