Net income was $12.9 million, which was one of the highest in the Company's history. Total assets increased four percent to $1.9 billion, and policyholders' equity remained strong at $217.9 million.
Strong investment performance in the individual line of business and favorable loss ratios in the group line of business were significant contributors to the 2007 financial results. Net investment income increased three percent to $83.0 million. Both the yield and the credit quality of the investment portfolio remained very strong throughout 2007. The commercial mortgage portfolio continued to be a stellar performer, growing almost 20 percent to $219 million. At the end of the year, the portfolio yield on the total invested assets was 6.32 percent and 97 percent of the securities in the fixed income segment were rated investment grade.
"Our 2007 financial results are a reflection of our comprehensive product offerings and conservative expense management," said Clark. "As a company we are focused on providing quality products and effectively managing our resources so that we can consistently meet our customer's needs." -- Shenandoah Life Insurance Company
Posted May 1st, 2008 by ruzik_tuzik
