Applicable laws and regulations of the States of Arizona and Nevada require Property and Casualty Insurance and Life Insurance to maintain minimum capital and surplus determined in accordance with statutory accounting principles. Audited statutory net income (loss) and statutory capital and surplus for the years ended are listed below:

		Years Ended December 31,
		2016		2015		2014
		(In thousands)
Repwest:
Audited statutory net income	$	19,580	$	22,308	$	21,287
Audited statutory capital and surplus		176,009		158,376		155,835
ARCOA:
Audited statutory net income		1,451		1,391		1,358
Audited statutory capital and surplus		6,798		5,386		4,175
Oxford:
Audited statutory net income		17,473		12,150		12,115
Audited statutory capital and surplus		189,279		172,282		158,512
CFLIC:
Audited statutory net income		8,139		9,217		9,157
Audited statutory capital and surplus		28,011		28,892		28,551
NAI:
Audited statutory net income		1,039		1,161		886
Audited statutory capital and surplus		12,691		12,685		11,589

The amount of dividends that can be paid to shareholders by insurance companies domiciled in the State of Arizona is limited. Any dividend in excess of the limit requires prior regulatory approval. The statutory surplus for Repwest at December 31, 2016 that could be distributed as ordinary dividends was $17.6 million. The statutory surplus for Oxford at December 31, 2016 that could be distributed as ordinary dividends was $18.6 million. Oxford did not pay a dividend to AMERCO in fiscal 2017, 2016 or 2015. After receiving approval from the Arizona Department of Insurance, Repwest paid a $19.6 million non-cash dividend to AMERCO in fiscal 2016, but did not pay a dividend in fiscal 2017 or 2015.