By Joann Blackwell
National Controller, ISDA
ISDA’s financial results through September 30, 2021 continue to outpace the prior year. Assets have increased 32.6% to $260,708,508 since December 31, 2020. Investments in bonds and stocks account for $255,525,202 of assets. Liabilities have increased 33.3% to $249,438,683. Our reserve for life insurance and annuity policies makes up $227,080,000 of liabilities. Surplus has increased to $11,269,825, an increase of 18% since December 31. The solvency ratio is 104.52%, which means that we have $1.04 in assets for every $1.00 of liabilities. The solvency ratio increases to 111.9% if we add in the Interest Maintenance Reserve and Asset Valuation Reserve for what we call total member safety funds.
Net income through September 30 is $2,286,224, as compared to $1,596,998 for all of 2020. Annuity and life insurance premiums are $56,265,035 while net investment income is $7,759,053. Those amounts are an increase of 46% and 30%, respectively, through September 30 of the prior year. Expenses have increased by $18.8 million over the prior September 30 mostly because of an increase in annuity benefits paid of $4.4 million and an increase in reserves for life and annuity policies of $13.4 million.
Heading into the final quarter of this year, we anticipate strong results. Life and annuity premium and investment income continue to increase, and expenses remain in line. Financial results for the year ending December 31, 2021 will be available in the April issue of La Nostra Voce.