Keystone National Insurance Company
Summary Statutory Financial Results
2019 2018
Assets:
Bonds $11,536,558 $10,884,788
Equities 2,981,936 2,475,207
Cash and Short Term Investments 4,127,215 3,391,932
Premiums Due 3,207,621 2,470,519
Other Assets 1,832,503 1,976,970
Total Admitted Assets $23,685,833 $21,199,416
Liabilities:
Unpaid Loss and Loss adjusting Expenses $873,692 $826,540
Unearned Premiums 2,241,921 1,697,930
Other Liabilities 9,556,854 8,365,525
Total Statutory Liabilities $12,672,467 $10,889,995
Capital $11,013,366 $10,309,421
Total Liabilities and Capital $23,685,833 $21,199,416
Statement of Statutory Income 2019 2018
Net Premiums Earned $2,880,162 $2,672,616
Loss and Loss adjustment expenses  1,799,114 1,339,558
Other Underwriting Expenses 1,267,931 1,156,399
Total Insurance Operations Income ($186,883) $176,659
Investment Income $439,743 $351,196
Other Income $124,996 $124,691
Income Tax $72,398 $143,420
Net Income $305,458 $509,126
Statutory Combined Ratio 102.7% 91.1%

Did You Know?

In dealing with claims, KN relies on a network of adjusters with Chief Claims Officer Dave Schweitzer at the helm. Schweitzer says there were about 2,200 claims between TW and Keystone National Insurance Company in the previous year, with in-house adjusters handling about 58 percent of them. The rest are handled by independents, a number of whom have draft authority of up to $5,000 for quick payment of damages.