Peer Analysis

Performance Ratios (%) NSEC Peer Median Peer Average
ROAA 2.69 (0.11) (1.42)
Operating ROAA 1.09 (2.04) (1.52)
ROAE 8.02 (0.34) (50.43)
Operating ROAE 3.26 (6.65) (7.26)
Investment Yield 5.50 4.45 5.06
Operating Margin 5.24 3.70 9.19
EPS Growth 419.35 32.00 30.23
Operating EPS Growth 35.42 NA NA
Balance Sheet Ratios (%)
Cash & Investments / Assets 84.96 71.66 65.41
Policy Reserves / Equity (x) 1.47 1.94 9.37
Debt plus Redeemable Preferred / Equity (x) 0.27 0.19 0.77
Debt / Total Cap, at Book 21.44 16.02 21.33
Tangible Equity / Tangible Assets 34.73 31.14 38.54
Total Equity / Total Assets 34.73 31.35 36.39
Tangible Common Equity / Tangible Assets 34.73 30.35 35.56
Market Ratios
Price / Earnings (x) 9.32 6.42 7.22
Price / Operating EPS (x) 23.08 NA NA
Price / Book (%) 71.02 73.64 132.96
Dividend Yield (%) 1.60 0.00 0.56
Data for trailing four quarters

National Security Group, Inc.'s peer group consists of the following: 1347 Property Insurance Holdings, Inc. (PIH), Atlantic American Corporation (AAME), Atlas Financial Holdings, Inc. (AFH), Conifer Holdings, Inc. (CNFR), GAINSCO, INC. (GANS), Kingstone Companies, Inc. (KINS), NI Holdings, Inc. (NODK), Trupanion, Inc. (TRUP), Unico American Corporation (UNAM), Union Security Life Insurance Company of New York, UTG, Inc. (UTGN)

National Security Group, Inc.'s financial data is as of 12/31/2019.

Peer financial data is as of 12/31/2019 except for these companies:

GAINSCO, INC.'s financial data is as of 12/31/2018.
Union Security Life Insurance Company of New York's financial data is as of 12/31/2018.
Atlas Financial Holdings, Inc.'s financial data is as of 9/30/2019.
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