Tuscarora Wayne Insurance Company
Summary Statutory Financial Results
2016   2015
Assets:
Bonds $58,630,791 $54,596,333
Equities 22,637,679 20,506,230
Cash and Short Term Investments 7,239,268 5,940,910
Premiums Due 10,220,291 9,284,977
Other Assets 7,544,077 6,913,121
Total Admitted Assets $106,272,106 $97,241,571
Liabilities:
Unpaid Loss and Loss adjusting Expenses $12,773,738 $14,028,923
Unearned Premiums 22,119,494 21,155,879
Other Liabilities 5,647,498 4,538,968
Total Statutory Liabilities $40,540,730 $39,723,770
Capital $65,731,376 $57,517,801
Total Liabilities and Capital $106,272,106 $97,241,571
Statement of Statutory Income 2016   2015
Net Premiums Earned $39,246,648 $37,170,079
Loss and Loss adjustment expenses  14,751,314 20,181,223
Other Underwriting Expenses 17,043,139 15,031,089
Total Insurance Operations Income $7,452,195 $1,957,767
Investment Income $1,916,857 $2,230,596  
Other Income $309,235 $323,835
Income Tax $3,129,283 $1,086,289
Net Income $6,549,004 $3,425,909
 Statutory Combined Ratio 80.0% 93.5%

 

 

 

 

Did You Know?

The incentive for agents to deal with Tuscarora Wayne Insurance Company is the personalized relationships between agents and underwriters. The underwriters know the agents and the agents understand the risks in their areas," says Todd E. Salsman, TW's Chief Operating Officer (COO). Jay W. Chadwick, Chairman/President/Chief Executive Officer, credits "disciplined underwriting and easier access to decision making" in this simple but effective approach.