Germania Today | Spring 2021

long,winding road The to storm recovery

CONSOLIDATED BALANCE SHEET As of December 31, 2020 (unaudited)

Admitted Assets Cash and Investments


Real Estate and Equipment


Premiums Receivable

147,932,696 4,516,844 2,741,092 15,806,552 5,042,629 $850,685,590

Accrued Investment Income Reinsurance Recoverable

Net Deferred Tax Asset

Other Assets Total Assets

Liabilities and Surplus Unearned Premiums

$287,669,162 132,262,265 90,268,635

Loss and Loss Adjustment Expenses

Life Future Policy Benefits Federal Income Tax Payable


Other Liabilities Total Liabilities

47,754,901 558,180,980 292,504,610 $850,685,590

Policyholders’ Surplus

Total Liabilities and Surplus

Winter storm Uri swept through Texas with a vengeance in February, dumping snow and ice on millions of vulnerable Texans. The winter storms and arctic temperatures created national headlines speculating the cost of damage could reach $20 billion, rivaling the cost of hurricanes Harvey (2017) and Katrina (2005). We understand what a frustrating and exhausting time this was for our policyholders. Our team worked tirelessly to vet through each claim to ensure each policyholder received the time and attention they deserved. Over 7,000 claims have been filed and assigned to adjusters in the aftermath of the winter storms – making it one of the largest claims event in Germania’s history. The winter storm provided the opportunity to remind us all of the processes to follow when facing devastation. • Document damage. Take photos and videos of damage and/ or temporary repairs. • Save receipts. Collect receipts for any expense incurred for temporary repairs and other out-of-pocket expenses. • Contact a mitigation contractor. Please contact a mitigation contractor to review any cleanup efforts before you begin to rebuild. This will help ensure the appropriate corrective actions are completed to minimize potential future damage and issues. Recovery from large weather events can take months. We appreciate your patience as we work with you during this time. Remember, you can check the status of your claim, associated documents, and the amount paid on your claims through your account by visiting or through our free Germania Insurance app. Search “Germania Insurance” in the Apple App or Google Play stores.

CONSOLIDATED INCOME STATEMENT For the year ended December 31, 2020 (unaudited) Underwriting Income Net Premiums Written


Change in Unearned Premiums


Net Premiums Earned Net Losses Incurred Loss Expenses Incurred

$541,022,960 $293,544,450 54,159,070 160,354,791

Underwriting Expenses Incurred Increase in Life Future Policy Benefits Net Losses and Expenses Incurred



Underwriting Gain (Loss)


Net Investment Income


Other Income


Net Income (Loss) before Taxes

47,473,583 8,296,342 $39,177,241

Federal Income Taxes Net Income (Loss)

TOTAL PROPERTY PAID LOSS AND LOSS ADJUSTMENT EXPENSE BY PERIL* Storm $125,464,336 Fire 23,662,751 Water 16,752,034 Theft 1,369,646 Other 6,328,598 Total $173,577,365

*Net of Salvage and Subrogation

Spring 2021 | 11

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