VOYAGER FINANCIAL STATEMENTS AS OF 06.30.24
VOYAGER CAPTIVE PROGRAM UNDERWRITING YEAR SUMMARY JUNE 30, 2024 (Unaudited)
2020-2021
2021-2022
2022-2023
2023-2024
2024-2025
Total
REVENUE
Loss fund premiums written Loss fund unearned premium
$ 18,673,017 $ 20,721,222 $ 20,311,748 $ 20,584,609 $ 20,159,607
$ 100,450,203
-
-
-
-
13,212,371 6,947,236 220,298 409,217 7,576,751
13,212,371 87,237,832 6,480,517 6,612,691 100,331,040
Loss fund premiums earned
18,673,017 1,309,476 1,503,645 21,486,138
20,721,222 2,951,766 1,704,538 25,377,526
20,311,748 1,220,483 1,515,542 23,047,773
20,584,609 778,494 1,479,749 22,842,852
Loss fund assessments
Interest income
Total revenues
EXPENSES
Loss and loss adjustment expenses
14,816,724
17,051,819 1,117,979
13,700,475 2,590,462 1,680,601 17,971,538
10,549,785 4,909,098 4,021,499 19,480,382
1,095,588 2,495,479 3,098,011 6,689,078
57,214,391 11,548,623 9,927,424 78,690,438
Case reserves
435,605 229,728
Incurred but not reported losses
897,585
Total expenses
15,482,057
19,067,383
Provisional net income (loss)
$
6,004,081 $
6,310,143 $
5,076,235 $
3,362,470
$
887,673
$ 21,640,602
LFLR
81.68%
87.69%
80.20%
75.10%
51.69%
78.82%
LFLR with IBNR
82.91%
92.02%
88.48%
94.64%
96.28%
90.20%
# Members
38
42
42
44
44
42
# Members in Assessment
12
14
14
10
7
11
% in assessment
31.58%
33.33%
33.33%
22.73%
15.91%
27.14%
# Members in Risk Sharing
1
2
1
2
1
1
% in risk sharing
2.63%
4.76%
2.38%
4.55%
2.27%
3.33%
Risk Sharing $$
$
80,197
$
120,996
$
10,428
$
50,675
$
13,595
$
275,891
Earned GWP
$ 48,591,047 $ 55,268,106 $ 54,805,455 $ 56,673,315 $ 19,041,563
$ 234,379,486
Assessments as a % of GWP
2.69%
5.34%
2.23%
1.37%
1.16%
2.76%
Risk Sharing as a % of GWP
0.17%
0.22%
0.02%
0.09%
0.07%
0.12%
Assessment % LF
7.01%
14.25%
6.01%
3.78%
3.17%
7.43%
Risk Sharing % LF
0.43%
0.58%
0.05%
0.25%
0.20%
0.32%
Investment Income % GWP
3.09%
3.08%
2.77%
2.61%
2.15%
2.82%
Investment Income % of LF
8.05%
8.23%
7.46%
7.19%
5.89%
7.58%
Investment Income % of RS
1874.94% 1408.76% 14533.39% 2920.08% 3010.06% 2396.85%
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