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Cohen & Steers Total Return Realty Fund, Inc. (RFI) Notification of Sources of Distribution Under Section 19(a)

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NEW YORK, April 28, 2021 /PRNewswire/ — This press release provides shareholders of Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the “Fund”) with information regarding the sources of the distribution to be paid on April 30, 2021 and cumulative distributions paid fiscal year-to-date.

In December 2011, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund’s long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund’s shares. 

The Fund’s monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund’s assets. A return of capital is not taxable; rather, it reduces a shareholder’s tax basis in his or her shares of the Fund. In addition, distributions from the Fund’s investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year-end by REITs held by the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund’s distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund’s distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES

April 2021

YEAR-TO-DATE (YTD)

April 30, 2021

Source

Per Share Amount

% of Current Distribution

Per Share Amount

% of 2021 Distributions

Net Investment Income

$0.0077

9.63%

$0.0545

17.03%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0723

90.37%

$0.2655

82.97%

Return of Capital (or other Capital Source)

$0.0000

0.00%

$0.0000

0.00%

Total Current Distribution

$0.0800

100.00%

$0.3200

100.00%

You should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s managed distribution policy. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.

*THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.

The Fund’s Year-to-date Cumulative Total Return for fiscal year 2021 (January 1, 2021 through March 31, 2021) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund’s Cumulative Distribution Rate for 2021. In addition, the Fund’s Average Annual Total Return for the five-year period ending March 31, 2021 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund’s Current Annualized Distribution Rate for 2021. The performance and distribution rate information disclosed in the table is based on the Fund’s net asset value per share (NAV). The Fund’s NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund’s investment performance, it does not measure the value of a shareholder’s individual investment in the Fund. The value of a shareholder’s investment in the Fund is determined by the Fund’s market price, which is based on the supply and demand for the Fund’s shares in the open market.

Fund Performance and Distribution Rate Information:

Year-to-date January 1, 2021 to March 31, 2021

Year-to-date Cumulative Total Return1

6.93%

Cumulative Distribution Rate2

2.33%


Five-year period ending March 31, 2021

Average Annual Total Return3

7.53%

Current Annualized Distribution Rate4

6.98%

1.

Year-to-date Cumulative Total Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.

2.

Cumulative Distribution Rate for the Fund’s current fiscal period (January 1, 2021 through April 30, 2021) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund’s NAV as of March 31, 2021.

3.

Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending March 31, 2021. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions.

4.

The Current Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV as of March 31, 2021.

Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund’s most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission’s EDGAR Database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

Website: https://www.cohenandsteers.com/ 
Symbol: (NYSE: CNS)

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, and Tokyo.

Forward-Looking Statements

This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company’s current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

SOURCE Cohen & Steers

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HITEC 100 2022 – El periodo de nominaciones ya está abierto

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CHICAGO, 11 de mayo de 2021 /PRNewswire-HISPANIC PR WIRE/ — HITEC, la organización mundialmente reconocida en liderazgo organizacional de máximo nivel para ejecutivos sénior y de tecnología, está recibiendo nominaciones para sus prestigiosos Premios HITEC 100 hasta el 16 de julio de 2021.

¡Envíe su nominación hoy! Haga clic aquí para conocer los criterios y el formulario de nominación para el HITEC 100.

El premio HITEC 100 hace un reconocimiento y celebra las contribuciones y los logros de los ejecutivos y emprendedores hispanos más influyentes y destacados en la industria de la tecnología. Desde 2008, la misión del HITEC 100 ha sido reconocer a los ejecutivos excepcionales que se destacan en el negocio de la tecnología, que inspiran a los jóvenes a seguir carreras en esta área, y que motivan a los profesionales a seguir destacándose y conectándose con las comunidades hispanas alrededor del mundo.

Conozca a los ganadores anteriores del Premio HITEC 100: Ganadores del Premio HITEC 100 2021 

Acerca de HITEC:

Creada para aumentar la representación hispana en la industria tecnológica con grandes retos en términos de diversidad, HITEC es una importante organización global de líderes ejecutivos sénior y de tecnología que han construido carreras sobresalientes en la tecnología. La red de alto nivel de HITEC abarca el continente americano y se enfoca en construir líderes ejecutivos y tecnológicos, equipos de liderazgo, corporaciones y modelos más sólidos en un mundo en rápida evolución, digital y centrado en la tecnología. Algunos de estos ejecutivos hispanos representan corporaciones Global 1000, mientras que otros lideran algunas de las firmas de tecnología propiedad de hispanos más grandes en todo el continente americano. HITEC hace posible el crecimiento empresarial y profesional de sus miembros, y alimenta la cantera de ejecutivos con la siguiente generación de líderes hispanos de tecnología.

Logotipo: https://mma.prnewswire.com/media/726204/HITEC_logo_color_01_Logo.jpg

FUENTE HITEC

Related Links

https://hitecglobal.org/

SOURCE HITEC

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Yakima Chief Hops lanza un nuevo producto para llevar el verdadero aroma del lúpulo a las cervezas de todo el mundo

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En 2017, YCH lanzó una línea de innovadores productos de lúpulo conocida como Cryo Hops® que utilizan una tecnología de procesamiento criogénico de lúpulo que separa conos enteros en dos componentes: lupulina y brácteas concentradas. Estos gránulos de lupulina concentrada proporcionan a los fabricantes de cerveza un máximo impacto de aroma, a la vez que reducen los efectos negativos que experimentan en la elaboración de cervezas lupuladas. Desde entonces, la marca Cryo Hops® ha sido reconocida en etiquetas de cerveza de todo el mundo.  

YCH combinó este nuevo proceso con técnicas de análisis de laboratorio del lúpulo de última generación para crear la mezcla Original Cryo Pop™, antes conocida como prueba combinada TRI 2304CR. El centro de I+D de YCH alberga uno de los únicos laboratorios del mundo con la capacidad de analizar lúpulos a través de la tecnología GC-QTOF y GC-SCD y estudiar componentes aromáticos que antes no se podían detectar.

La información se emplea para diseñar gránulos de lúpulo que contienen altas concentraciones de los compuestos más solubles de la cerveza o compuestos que sobreviven al proceso de elaboración. El resultado son gránulos supercargados que ofrecen a los fabricantes de cerveza una solución dinámica para aplicaciones jugosas, frutales y altamente aromáticas, que incluyen potentes aromas tropicales, de frutales con carozo y cítricos. 

“La investigación detrás de Cryo Pop es revolucionaria”, afirmó Spencer Tielkemeier, director de Ventas de la División Este de YCH y miembro del equipo Brewing Innovations. “Ayuda a los fabricantes a aprovechar los conocimientos prácticos de cómo influyen en el producto terminado los compuestos solubles en la cerveza”.

Cryo Pop™ Original Blend está disponible tanto para nivel comercial como para los productores artesanales a través de shop.yakimachief.com. Visite cryopopblend.com para obtener más información.

Yakima Chief Hops

YCH es un proveedor global de lúpulo 100 % propiedad de productores cuya misión es conectar a los fabricantes con las granjas familiares de producción de lúpulo. Con más de 30 años de funcionamiento, nos hemos convertido en más que un proveedor de lúpulo. Somos líderes en innovación, calidad y servicio al cliente. Somos un recurso para los productores y ofrecemos productos basados en soluciones e investigación líder en la industria. Somos defensores de la sostenibilidad y de causas sociales significativas, y trabajamos para apoyar el medioambiente y las comunidades que nos rodean. https://www.yakimachief.com/

Fotografía: https://mma.prnewswire.com/media/1507656/Cryo_Pop.jpg 
Logotipo: https://mma.prnewswire.com/media/1016498/Yakima_Chief_Logo.jpg

FUENTE Yakima Chief Hops

Related Links

https://www.yakimachief.com/

SOURCE Yakima Chief Hops

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Walker & Dunlop Completes $55 Million Sale for Trophy Multifamily Community in Los Angeles, CA

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In addition to its spacious units, The Estelle offers residents a resort-style living experience with a state-of-the-art fitness center, Mediterranean pool, and ample green space, including three landscaped rooftops. Situated within a mostly residential neighborhood, The Estelle features stunning views of Los Angeles while also offering convenient access to the city’s employment nodes, dining, culture, nature, and retail.

The sale was handled by Walker & Dunlop’s Blake RogersHunter Combs, Alexandra Caniglia, and Javier Rivera. Mr. Rogers commented, “Class A transactions in Los Angeles have been rare since the onset of the pandemic, with The Estelle representing just the fourth closing of an institutional quality asset in the city since April 2020. While we anticipate Class A sale velocity to accelerate as a result of the rapidly-improving multifamily fundamentals, this sale and solid leasing performance during this environment speaks to the fact that Canfield Development created an unparalleled asset with unique, wellness- and environmentally-minded features that cater perfectly to Los Angeles renters. This property will undoubtedly see durable and resilient growth for years to come.”

“We are very proud of The Estelle and how the building came out. It’s one of the most beautiful buildings we’ve developed, with a thoughtful, luxurious design, exceptional amenities, and sweeping views of the city. We’re confident that the high-quality, infill asset will prove to be a highly valuable investment for The Green Cities Company,” said Serge Shirikjian, CFO of Canfield Development. “Walker & Dunlop’s team was an excellent partner in facilitating this disposition, and we look forward to working with them again as we continue to build our signature communities throughout Southern California.”

Walker & Dunlop is a leader in multifamily property sales, having completed $6.1 billion in property sales volume in 2020. The firm was also the top provider of capital to the U.S. multifamily market, originating $30.8 billion in transactions and lending over $24 billion for multifamily properties in 2020. For information about Walker & Dunlop’s view on the apartment market, read our recently-released Spring 2021 Multifamily Outlook Report.

About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine’s Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop’s 1,000+ professionals in 38 offices across the nation have an unyielding commitment to client satisfaction.

About The Green Cities Company
The Green Cities Company has driven innovation in real estate investment management for over a decade through the confluence of environmental, social and investment value. With this forward-thinking strategy and fully integrated in-house expertise, the firm acquires, manages and develops office, mixed-use and multi-family assets. Deep experience in select U.S. markets, combined with meaningful attention to ESG considerations, positions The Green Cities Company for enhanced tenant retention and superior operations. This differentiated approach, along with disciplined risk management, encompasses the environmental footprint of an asset, the diversity and inclusivity of its community and the wellbeing and fulfillment of its occupants and neighbors. Each member of the team is dedicated to a resilient investment portfolio that yields results to the firm’s investors, employees, tenants and communities.

About Canfield Development
Canfield Development Inc. is a vertically integrated Los Angeles based residential and mixed-use real estate development and investment company focused on high quality, infill apartments in Greater Los Angeles. Established in 1990, Canfield’s achievements are built upon expertise in development, construction, and property management. Canfield Development is a “one-stop shop” for development projects, handling everything from acquisition to construction to asset and property management. With over $1.4 billion in development experience, Canfield is one of the most trusted names in Southern California real estate development.

SOURCE Walker & Dunlop, Inc.

Related Links

http://www.walkerdunlop.com

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ICC Holdings, Inc. Reports 2021 First Quarter Results

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ROCK ISLAND, Ill., May 11, 2021 /PRNewswire/ — ICC Holdings, Inc. (NASDAQ: ICCH) (the Company), parent company of Illinois Casualty Company, a regional, multi-line property and casualty insurance company focusing exclusively on the food and beverage industry, today reported unaudited results for the three months ended March 31, 2021.

FIRST QUARTER ENDED MARCH 31, 2021 – FINANCIAL RESULTS

Net earnings totaled $1,162,000, or $0.38 per share, for the first quarter of 2021, compared to a net loss of $1,973,000, or $0.65 per share, for the first quarter of 2020. The first quarter’s net earnings compared to the net loss for the same quarter last year was driven by strong performance in the equity investment markets. Book value per share decreased 1.4% to $21.76 at March 31, 2021 from $22.07 at December 31, 2020. This change in book value reflects a drop in our investment portfolio’s fixed income security values resulting from rising interest rates during the first quarter.

Direct premiums written grew by $377,000, or 2.5%, to $15,172,000 for the first quarter of 2021 from $14,795,000 for the same period in 2020. The first quarter growth reflects a conservative rebound in the food and beverage industry across the states we serve. Consistent with our industry’s premium earnings cycle, net premiums earned decreased by 7.4%, or $965,000, to $12,049,000 for the first quarter of 2021 from $13,014,000 for the same period in 2020.

For the first quarter of 2021, the Company ceded to reinsurers $2,472,000 of earned premiums, compared to $2,394,000 of earned premiums for the first quarter of 2020. Higher cessions in 2021 reflect the impact of increased property catastrophe costs.

Net realized investment gains net of other-than-temporary impairment losses were $187,000 for the first quarter of 2021 compared to gains of $96,000 for the same period in 2020. The first quarter’s changes from prior year reflect typical rebalancing activities within the Company’s investment portfolio.

Net investment income decreased by $34,000, or 4.1%, to $801,000 for the first quarter of 2021, as compared to $835,000 for the same period in 2020. The change is attributable to a decrease in the bond portfolio’s investment income as reinvestment rates decreased significantly in 2020.

Losses and settlement expenses decreased by $39,000, or 0.5%, to $7,803,000 for the first quarter of 2021, from $7,842,000 for the same period in 2020. This nearly no-change position year over year is consistent with our pre-COVID-19 claims activity through the first half of March 2020, and the Company has not paid any business interruption claims related to COVID-19 thus far.

Policy acquisition costs and other operating expenses decreased by $297,000, or 6.2%, to $4,468,000 for the first quarter of 2021 from $4,765,000 for the same period in 2020 due to a decrease in compensation and benefit-related expenses.

Total assets decreased by 0.6% from $183,939,000 at December 31, 2020 to $182,744,000 at March 31, 2021. Our investment portfolio, which consists of fixed income securities, common stocks, preferred stock, property held for investment, and other invested assets, decreased by 0.4% from $129,322,000 at December 31, 2020 to $128,850,000 at March 31, 2021.

FIRST QUARTER ENDED MARCH 31, 2021 – FINANCIAL RATIOS

The Company’s losses and settlement expense ratio (defined as losses and settlement expenses divided by net premiums earned) was 64.8% for the first quarter ended March 31, 2021, compared with 60.3% for the same period of 2020. The increase in our losses and settlement expense ratio is a direct result of lower earned premiums in the first quarter of 2021 compared to prior year’s first quarter.

The expense ratio (defined as the amortization of deferred policy acquisition costs and underwriting and administrative expenses divided by net premiums earned) was 37.1% for the first quarter ended March 31, 2021, compared to 36.6% for the same period of 2020. This was driven by the 7.4% decrease in net earned premiums discussed earlier.

The Company’s GAAP combined ratio (defined as the sum of the losses and settlement expense ratio and the expense ratio) was 101.8% for the first quarter ended March 31, 2021, compared to 96.9% for the same period of 2020.

MANAGEMENT COMMENTARY

“The Company welcomed in the new year with positive premium growth and lower losses in its first quarter. As many states relaxed their pandemic-related mandates during the first quarter, we bolstered our underwriting efforts, capitalizing on our cross-departmental expertise to support aggressive and quality growth in our book of business without increasing employee head count.   

“We are cautiously optimistic about the year ahead. While experiencing strong premium growth and managing claims risks, we are also maintaining a diligent approach in assessing the investment portfolio’s interest rate sensitivity. Thus far, our success with top-line growth in the first quarter contributed to a positive $0.38 earnings per share and a nearly 15% growth in book value per share over the same period last year. 

“While we keep the focus on the core business, we continue to invest time and energy on our proprietary technology which supports enterprise-wide operational efficiencies. I’m happy to say that the business climate in our niche is improving as the public becomes more comfortable visiting restaurants and taverns. We foresee a gradual increase in premium growth and look forward to continued successes in 2021,” stated Arron Sutherland, President and Chief Executive Officer.

ABOUT ICC HOLDINGS, INC.

ICC Holdings, Inc. is a vertically integrated company created to facilitate the growth, expansion, and diversification of its subsidiaries in order to maximize value to its stakeholders. The group of companies consolidated under ICC Holdings, Inc. engages in diverse, yet complementary business activities, including property and casualty insurance, real estate, and information technology.

The Company’s common shares trade on the NASDAQ Capital Market under the ticker symbol “ICCH”. For more information about ICC Holdings, visit http://ir.iccholdingsinc.com.

FORWARD-LOOKING STATEMENTS

This press release, and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding the Company’s, plans, objectives, expectations, and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as “believe,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “will,” and similar expressions. All statements addressing operating performance, events, or developments that the Company expects or anticipates will occur in the future, including statements relating to revenue and profit growth; future responses to and effects of the COVID-19 pandemic, as well the distribution and effectiveness of COVID-19 vaccines, including their effects on our business operations and claims activity; new theories of liability; judicial, legislative, regulatory and other governmental developments, including, but not limited to, liability related to business interruption claims related to COVID-19; litigation tactics and developments; product and segment expansion; regulatory approval in connection with expansion; and market share, as well as statements expressing optimism or pessimism about future operating results, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management’s current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond the Company’s control. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release. 

Although the Company does not make forward-looking statements unless it believes it has a reasonable basis for doing so, the Company cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect the Company’s results, see the Company’s filings with the Securities and Exchange Commission, “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” including “Forward-Looking Information,” set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. No undue reliance should be placed on any forward-looking statements.

ICC Holdings, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets











As of



March 31,


December 31,



2021


2020




(Unaudited)




Assets







Investments and cash:







Fixed maturity securities (amortized cost – $97,695,883 at 3/31/2021 and $98,753,027 at 12/31/2020)


$

101,865,040


$

105,740,566

Common stocks at fair value



18,404,167



14,724,814

Preferred stocks at fair value



1,654,530



1,683,892

Other invested assets



1,777,792



1,772,867

Property held for investment, at cost, net of accumulated depreciation of $464,847 at 3/31/2021 and $465,364 at 12/31/2020



5,148,152



5,399,826

Cash and cash equivalents



5,556,479



6,598,842

Total investments and cash



134,406,160



135,920,807

Accrued investment income



700,153



660,793

Premiums and reinsurance balances receivable, net of allowances for uncollectible amounts of $150,000 at 3/31/2021 and 12/31/2020



22,598,051



23,506,171

Ceded unearned premiums



861,914



860,905

Reinsurance balances recoverable on unpaid losses and settlement expenses, net of allowances for uncollectible amounts of $0 at 3/31/2021 and 12/31/2020



14,011,159



13,019,865

Federal income taxes



338,908



372,986

Deferred policy acquisition costs, net



5,721,277



5,429,620

Property and equipment, at cost, net of accumulated depreciation of $6,196,657 at 3/31/2021 and $6,079,728 at 12/31/2020



2,818,244



2,860,331

Other assets



1,287,738



1,307,794

Total assets


$

182,743,604


$

183,939,272

Liabilities and Equity







Liabilities:







Unpaid losses and settlement expenses


$

61,807,968


$

61,575,666

Unearned premiums



30,467,894



29,788,834

Reinsurance balances payable



347,506



371,195

Corporate debt



13,462,614



13,465,574

Accrued expenses



3,021,753



3,472,511

Income taxes – deferred



910,957



1,231,271

Other liabilities



944,113



1,290,532

Total liabilities



110,962,805



111,195,583

Equity:







Common stock1



35,000



35,000

Treasury stock, at cost2



(3,095,065)



(3,153,838)

Additional paid-in capital



32,765,565



32,780,436

Accumulated other comprehensive earnings, net of tax



3,293,569



5,520,091

Retained earnings



41,302,055



40,140,115

Less: Unearned Employee Stock Ownership Plan shares at cost3



(2,520,325)



(2,578,115)

Total equity



71,780,799



72,743,689

Total liabilities and equity


$

182,743,604


$

183,939,272


1Par value $0.01; authorized: 2021 – 10,000,000 shares and 2020 – 10,000,000 shares; issued: 2021 – 3,500,000 shares and 2020 – 3,500,000 shares; outstanding: 2021 – 3,295,255 and 2020 – 3,291,125 shares

22021 – 204,745 shares and 2020 – 208,875 shares

32021 – 252,032 shares and 2020 – 257,811 shares

ICC Holdings, Inc. and Subsidiaries

Condensed Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited)











For the Three-Months Ended



March 31,



2021


2020

Net premiums earned


$

12,048,713


$

13,013,989

Net investment income



801,406



835,400

Net realized investment gains



186,709



95,632

Net unrealized gains (losses) on equity securities



876,316



(3,689,347)

Other income



46,716



50,198

Consolidated revenues



13,959,860



10,305,872

Losses and settlement expenses



7,802,706



7,842,082

Policy acquisition costs and other operating expenses



4,467,578



4,764,974

Interest expense on debt



53,702



35,328

General corporate expenses



163,982



174,421

Total expenses



12,487,968



12,816,805

Earnings (loss) before income taxes



1,471,892



(2,510,933)

Total income tax expense (benefit)



309,951



(537,637)

Net earnings (loss)


$

1,161,941


$

(1,973,296)








Other comprehensive loss, net of tax



(2,226,522)



(1,710,846)

Comprehensive loss


$

(1,064,581)


$

(3,684,142)








Earnings per share:







Basic:







Basic net earnings (loss) per share


$

0.38


$

(0.65)

Diluted:







Diluted net earnings (loss) per share


$

0.38


$

(0.65)








Weighted average number of common shares outstanding:







Basic



3,034,233



3,016,062

Diluted



3,044,479



3,020,458






Contact Info:    Arron K. Sutherland, President and CEO 



Illinois Casualty Company



(309) 732-0105



[email protected] 



225 20th Street, Rock Island, IL  61201

SOURCE ICC Holdings, Inc.

Related Links

https://www.ilcasco.com

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