Notes

advance insurance company of kansas
Changes in Our Property and Casualty Insurance
Kansas Mutual Insurance Company has maintained its financial position since May of 1992. The Insurance segment in Kansas Mutual Insurance Company's portfolio is mainly comprised of Property Underwriting & Insurance, with Life Insurance providing the maximum coverage to protect our life interests. We are pleased to have achieved an excellent rating of A with a long-term debt-to-equity basis, as reflected by our credit rating. We operate on the principle of offering low premiums with substantial savings on premiums for the policyholders. Our tangible assets include cash and marketable securities, primarily consisting of accounts receivable and unsecured loans.
first car insurance continues to focus on its two core products: Life and Property Underwriting. We have recently improved our operating performance by reducing our costs and increasing our investment in our inventory. We expect our operating profit margins to continue to trend upward over the next several quarters as we reduce our costs. Our primary business expense is premiums, which have been flat for the past five years. Our goal is to increase our property underwriting and credit rating positions over the next few quarters. Our diluted earnings per share (EPS) growth rate over the last twelve months has been fairly flat versus a year ago.
We are very pleased with the performance of our two core products. We are focusing on expanding our insureds in the non-insurance business to provide additional coverage to meet the demands of the health care industry in Kansas. As part of this effort, we have reduced our total insureds, as well as our claims. Our operating performance and business profile have remained quite steady over the last couple of years.
As we continue to focus on improving our cash flows and expanding the insureds in our business profile, we believe our current risk factors will continue to improve. Our ability to service future customer orders, both long-term and short-term, is one area where we have continued to make improvements. In our premiums and our rated risk measurement, we have continued to take steps to improve our operating performance and our business profile. We believe that these actions will pay off in the form of improved operating performance and better financial results for all of our stockholders.
best meridian insurance is to maintain our current level of customer service to our customers. Our current insureds, primarily individuals who own apartments and condos, tend to be satisfied with our level of customer service. This customer focus has also contributed to our solid operating profit margin and our long-term balance sheet strength. Our premium revenue and ratio of premium income to premium expenses remain at historical lows.
Our Insurance Portfolio continues to strengthen as we continue to diversify our risk exposure. Our Insurance Portfolio represents a combination of Property, Casualty and Life Insurance. The Property Insurance covers risks associated with both land and building property, while the Casualty and Life insurances cover risks associated with individual human life and other types of risk. All of our Property Insurance and Life Insurance is rated by A.M. Best and Company, which has consistently rated our Property and Casualty and Life Insurance in the top five of their Realtor ratings.
As our insureds age our Property and Casualty and Life insurance to provide additional protection to our clients' estates. We have significantly strengthened our Property and Casualty insurance risk management policies to respond to the changing needs of our client portfolio. In addition to strengthening the rating of our Property Insurance and Life Insurance, we have dramatically reduced the rates we charge our individual client clients.
As we have reviewed our Risk Management policy and strategy and adapted these changes to meet our objectives, we have noticed a significant decrease in the rate changes we receive in premiums for Property Insurance and Life Insurance. While the initial increase was fairly modest, we have reviewed the factors that drive rates and have found these factors to be immaterial in our ability to successfully underwrite risk. Our overall savings on Property Insurance and Life Insurance resulted in an increase in the number of insureds and a reduction in Standard deductible percentages. We believe that these factors are having a positive effect on the performance of our Insurance business.
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