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Highlights | BACK | NEXT | Group Hospitalization and Medical Services, Inc. Group Hospitalization and Medical Services, Inc. Statements of Admitted Assets, Liabilities, Reserves and Other Funds (Statutory Basis) as of December 31, 1996 and 1995 (in thousands of $US) 1996 1995* Admitted Assets Cash and short term investments 34,673 49,952 Investments 201,059 168,692 Real Estate 52,800 60,962 Total Cash and invested assets 288,532 279,606 Premiums receivable 264,918 298,394 Amounts due from subsidiaries 13,446 4,738 Deposits 6,312 21,914 Data processing equipment, net 5,955 5,826 Investment income due and accrued 2,800 2,196 Other assets 5,200 6,919 Total admitted assets 587,163 619,593 Liabilities, Reserves and Other Funds Unpaid claims liability 119,287 129,603 Unpaid claims adjustment expenses 6,088 6,332 Unearned premiums 154,610 180,445 Advance deposits 5,519 9,047 Cash overdraft 25,035 19,527 Accounts payable and accrued expenses 17,849 19,591 Borrowed money - 7,000 Federal Employee Program advances 5,293 13,529 Provision for experience rated settlements 13,975 18,346 Amounts due to subsidiaries 16,423 14,006 Rate stabilization funds 19,352 21,094 Pension and post-retirement benefits 9,069 9,214 Other liabilities 61,785 71,403 Total Liabilities 454,285 519,137 Reserves and other funds Statutory reserves 1,500 1,500 Subordinated surplus note 60,000 60,000 Unassigned funds 71,378 38,956 Total reserves and other funds 132,878 100,456 Total liabilities, reserves and other funds 587,163 619,593 *Certain prior year amounts have been restated or reclassified for comparative purposes. Group Hospitalization and Medical Services, Inc. Statements of Operations and Reserves and Other Funds (Statutory Basis) for the years ended December 31, 1996 and 1995 (in thousands of $US) 1996 1995* Underwriting income Premiums earned 840,290 902,580 Claims incurred 765,249 818,807 Expenses incurred Claims adjustment 55,755 60,309 Administrative 39,442 51,325 Marketing 13,964 15,018 Gross expenses incurred 109,161 126,652 Administrative service fees (34,753) (30,765) Net expenses incurred 74,408 95,887 Underwriting deductions 839,657 914,694 Net underwriting gain (loss) 633 (12,114) Investment income Investment income earned, net 20,635 21,764 Gain on sales of subsidiaries 6,832 22,227 Realized capital (losses) gains, net (340) 1,768 Investment income, net 27,127 47,759 Other income Bad debt recoveries, net 1,420 2,007 Other income, net 2,566 1,203 Other income, net 3,986 3,210 Net income before federal income taxes 31,746 36,855 Federal income taxes incurred (485) (96) Net income 31,261 36,759 Reserves and other funds Beginning of year 100,456 70,046 Change in: Net unrealized capital gains 1,493 933 Headquarters building valuation (3,200) (7,500) Non-admitted assets 648 2,695 Net unrealized equity gain on subsidiary investments 2,220 5,344 Reversal of unrealized equity gains on sales of subsidiaries - (7,821) End of year 132,878 100,456 *Certain prior year amounts have been restated or reclassified for comparative purposes.     Report Fraud Privacy Statement Site Map Return to Home Page Serving Maryland, the District of Columbia and portions of Virginia. CareFirst BlueCross BlueShield is the shared business name of CareFirst of Maryland, Inc. and Group Hospitalization and Medical Services, Inc. CareFirst BlueChoice, Inc., an affiliate company, also offers health benefit products and services on this site. CareFirst BlueCross BlueShield and CareFirst BlueChoice, Inc. are independent licensees of the Blue Cross and Blue Shield Association. ® Registered trademark of the Blue Cross and Blue Shield Association. ®' Registered trademark of CareFirst of Maryland, Inc. This site is best viewed in IE 5.0 or higher or Netscape 7.0 or higher.