Viking Magazine - June 2017 - 34

2016 ANNUAL REPORT
Sons of Norway Condensed Statutory Financial Information
Balance Sheet
FOCUSED ON
FINANCIAL
HEALTH
Our financial snapshot indicates a
healthy business position for Sons
of Norway. Total admitted assets,
surplus growth and our capital position
moved in a positive direction in 2016,
demonstrating a solid financial base
and ability to withstand economic
fluctuations. In fact, this is the 6th year
of consecutive growth in our surplus.
You will see that our income statement
notes a significant increase in certificate
reserves over last year, largely due
to strong annuity sales. Given these
factors and prudent management of
expenses, Sons of Norway anticipates
a continued strong financial position.
2016 FINANCIAL
SNAPSHOT
This year saw surplus and assets reach
an all-time high.
Total Admitted Assets
in millions as of Dec. 31
364
2016
2015
10
12
14
16
08
06
Surplus growth in millions (2012-2016)
Capital Position
in millions as of Dec. 31
17
2016
2015
34 VIKING JUNE 2017
16.2
sonsofnorway.com
20
20
DINING & LEARNING
Thirty-three new membership dinners were held by lodges in 2016,
providing an opportunity for prospective members to learn about
Sons of Norway and the benefits of membership, including a
presentation from an FBC. Sons of Norway provides a stipend of up
to $400 to help support this popular recruitment event.
dŽ
Ăů ďĞŶĞĮ
ĂŶĚ ĞĞŶ	Ğ
360
'ĂŝŶ ĨŽŵ ŽĞĂ
ŽŶ ďĞĨŽĞ ĐĂŝ
Ăů ůŽ	Ğ
Capital losses
Net income
41,331
863
(134)
729
37,142
1,701
(538)
1,163
The financial information presented has been derived from the financial statements audited by
EideBailly LLP. To receive a copy of the complete statutory basis financial statements, please contact
Sons of Norway Headquarters.
As of Dec. 31 (in thousands)
ĚŵŝĞĚ	Ğ
Bonds
Preferred Stock
Headquarters real estate
Mortgage loans
Ğ
ĮĐĂ
Ğ ůŽĂŶ
Cash and short-term investments
Total investments
Other assets
dŽ
Ăů ĂĚŵŝĞĚ Ă	Ğ
>ŝĂďŝůŝ
Ğ
Ğ
ĮĐĂ
ĞĞ	ĞĞ
ĞŽ	ŝ
ůŝĂďŝůŝ
Ğ ĂŶĚ ĐĞ
ĮĐĂ
Ğ ĐůĂŝŵ
K
ŚĞ ůŝĂďŝůŝ
Ğ
dŽ
Ăů ůŝĂďŝůŝ
Ğ
Total surplus
dŽ
Ăů ůŝĂďŝůŝ
Ğ ĂŶĚů
Income Statement
For the year ended Dec. 31 (in thousands)
Premium income
Net investment income
&Ă
ĞŶĂů ďĞŶĞĮ
ŝŶĐŽŵĞ
Other income
Total income
/ŶĐĞĂ	Ğ ŝŶ ĐĞ
ĮĐĂ
ĞĞ	ĞĞ
Ğ
ĮĐĂ
ĞŚŽůĚĞ ďĞŶĞĮ
ĂŶĚĞĨŶĚ
Žŵŵŝ	ŝŽŶ ĂŶĚ ŝŶĂŶĐĞ ŽĞĂ
ŶŐ ĞĞŶ	Ğ
&Ă
ĞŶĂů ĞĞŶ	Ğ
$ 22,920 $ 20,060
15,231
1,167
2,876
15,765
1,141
1,877
42,194
3,526
29,507
5,750
2,548
38,843
(229)
29,324
5,579
2,468
2016
2015
$ 344,482 $ 340,087
496
496
7,127
2,432
3,517
1,743
359,797
4,105
7,287
2,792
3,836
977
355,475
4,295
$ 363,902 $ 359,770
$ 322,196 $ 318,671
17,710
8,980
17,503
9,247
348,886
15,016
345,421
14,349
$ 363,902 $ 359,770
http://www.sonsofnorway.com
Viking Magazine - June 2017

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