Buried Utility Line 3 reasons why coverage you may need
CONSOLIDATED BALANCE SHEET As of Dec. 31, 2021 (unaudited)
Admitted Assets Cash and Investments
$680,727,363 10,715,764 155,091,512 4,383,290 23,066,408
Real Estate and Equipment
Premiums Receivable
Accrued Investment Income Reinsurance Recoverable
Net Deferred Tax Asset
15,532,882 6.031,663 15,532,882
Federal Income Tax Recoverable
Other Assets Total Assets
$904,066,967
Liabilities and Surplus Unearned Premiums
$326,609,702 158,066,570
Loss and Loss Adjustment Expenses
Life Future Policy Benefits Federal Income Tax Payable
94,077,532
—
Other Liabilities Total Liabilities
54,808,694 633,562,498 270,504,469 $904,066,967
Policyholders’ Surplus
Total Liabilities and Surplus
Having to repair or replace buried utility lines can be unexpected and financially crippling news to many homeowners. As many water, gas, and electrical service lines continue to age, homeowners now more than ever need protection from imminent and expensive damage to their buried utility lines. Here’s three reasons why you may need to add Germania’s new Buried Utility Line coverage to your property policy: 1. The United States’ infrastructure rating is poor. According to the American Society of Civil Engineers, America’s infrastructure rating across several categories, including buried utility line condition, is a D+. It’s not a matter of if a buried utility line will become damaged, but rather when. 2. Damage to a buried utility line comes in many different forms. From freezes to root invasions, damage to buried utility lines is sneaky and sudden. Fortunately, Germania’s new Buried Utility Line coverage covers leaks, breaks, tears, ruptures, collapses, and electrical arcing. 3. It’s not just about damage to the utility line. When you experience damage to your buried utility lines, it doesn’t just affect the line – it may affect your way of life. Additional coverage and service enhancements can expedite expense coverage to make immediate repairs, reimburse you for living and temporary equipment expenses, and reward you for making efficient equipment upgrades. Don’t let the threat of weak or aging buried utility lines interrupt your lifestyle. Germania and your Germania authorized agent are ready to help you gain the protection you need for your home – and what lies below it!
CONSOLIDATED INCOME STATEMENT As of Dec. 31, 2021 (unaudited) Underwriting Income Net Premiums Written
$602,060,661 38,940,540 $563,120,121 $384,144,993 60,969,938 168,293,251 3,878,452 $617,266,634
Change in Unearned Premiums
Net Premiums Earned Net Losses Incurred Loss Expenses Incurred
Underwriting Expenses Incurred Increase in Life Future Policy Benefits Net Losses and Expenses Incurred
Underwriting Gain (Loss)
$(54,166,513)
Net Investment Income
18,766,202
Other Income
1,396,350
Net Income (Loss) before Taxes
(34,003,961) (6,331,524) $(27,672,437)
Federal Income Taxes Net Income (Loss)
CLAIMS REPORTED BY PERIL Storm
$160,136,286 32,983,603 23,499,758
Fire
Water Theft Other
1,711,233
64,949,375
Total
$283,280,255
Spring 2022 | 11
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