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Home > About > Consolidated Statement of Earnings
Consolidated Statement of Earnings
For the year ended December 31, 2002
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31-Dec-02 |
31-Dec-01 |
| Income |
$ |
$ |
| Gross Premiums Earned |
81,972,423 |
72,595,492
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| Reinsurance |
-23,562,832
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-19,393,033
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| Net Premiums Earned |
57,143,969
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53,302,335
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| Investment Income |
5,877,994
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8,591,571
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| Commissions and Other |
9,807,556
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9,939,629
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| Total Income |
72,829,519
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71,833,535
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Expenses |
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Claims and Benefits |
43,438,060
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42,333,105
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Commissions paid |
1,661,183
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1,357,933
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Operating |
14,985,197
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14,332,651
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Depreciation |
1,655,494
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1,624,679
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Interest on loan |
575,572
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988,383
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Minority Interest |
682,893
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704,991
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| Operating Earnings |
62,998,399
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61,341,742
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| Net Earnings |
9,831,120
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10,491,793
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