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ELCO is a well-known niche marketer. In years past it pioneered products such as polio and cancer indemnification plans as well as various specialized life programs. For more than twenty years it has concentrated on developing plans to provide seniors with solutions to estate and survival problems. But it also has policies for every age group. An ability to create new products quickly has always been a big plus for its agency department as well as established marketers seeking a worthy partner for a new venture. | ||||||
FINANCIAL HIGHLIGHTS | ||||||
BALANCE SHEET AS OF JUNE 30 2011 | |
Assets | |
| Bonds | 326,905,906 |
| Preferred Stocks | 3,500,000 |
| First Lien Mortgage Loans | 11,600,787 |
| Real Estate | 900,658 |
| Policy Loans | 434,308 |
| Cash and Short-Term Investments | 73,621,119 |
| All Other Assets | 10,210,346 |
| Total Admitted Assets | $427,173,124 |
Liabilities and Surplus | |
| Policyholder Reserves | 394,924,609 |
| Claims in Process | 591,406 |
| Dividends Payable Next 12 Months | 295,808 |
| Other Liabilities | 306,094 |
| Total Policyholder Liabilities | $396,117,917 |
| Unassigned Surplus | 26,227,839 |
| Interest Maintenance and Asset Valuation Reserves | 4,827,368 |
| Total Surplus for Benefit of Policyholders | $31,055,207 |
| Total Liabilities and Surplus | $427,173,124 |
OPERATIONS FOR SIX MONTHS ENDING JUNE 30 2011 | |
| Premiums Considerations and Deposits | 146,882,784 |
| Investment Income | 13,473,416 |
| Total Income | $160,356,200 |
| Policyholder Benefits Paid | 153,005,691 |
| Expenses including Reinsurance costs | 5,711,436 |
| Total Outgo | $158,717,127 |
| Operating Gain before dividends and federal taxes | $1,639,073 |
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