By Joann Blackwell, Controller, ISDA
ISDA Financial Life’s results for June 30, 2021 are strong. Assets have increased 20.7% to $237,433,600 since December 31. Investments in bonds and stocks account for $226,765,634 of assets. Liabilities have increased 21.0% to $226,459,220. Our reserve for life insurance and annuity policies makes up $212,997,000 of liabilities. Surplus has increased to $10,974,380, an increase of 15% since December 31. The solvency ratio is 104.85%, which means that we have $1.04 in assets for every $1.00 of liabilities.
Net income for June 30 is $1,285,624, as compared to $1,596,998 for all of 2020. Annuity and life insurance premiums make up $38,312,551 of revenue, while net investment income makes up $4,921,558 of revenue. Those amounts are an increase of 60% and 27%, respectively, over June 30 of the prior year. Expenses have increased by $15 million over the prior June 30 mostly because of an increase in annuity benefits paid of $4 million and an increase in reserves for life and annuity policies of $10,353,000.
Heading into the third quarter of 2021, we anticipate profitable results at September 30. Life and annuity premium, as well as expenses, remain steady. Financial results for the third quarter will be available in the December issue of La Nostra Voce.
Recent Comments