EX-99.1 2 d583263dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF JUNE 30, 2013

(in thousands, except share data)

 

 

 

     June 30, 2013  

ASSETS

  

Investments held in trust, at fair value:

  

Fixed-maturity securities

   $ 177,407   

Cash equivalents held in trust

     11,419   
  

 

 

 

Total investments held in trust

     188,826   

Cash and cash equivalents

     6,399   

Fixed-maturity securities, at fair value

     20,487   

Accrued investment income

     1,472   

Premiums receivable

     1,111   
  

 

 

 

Total assets

   $ 218,295   
  

 

 

 

LIABILITIES AND STOCKHOLDERS EQUITY

  

Liabilities:

  

Losses and loss adjustment expenses

   $ 55,317   

Losses payable

     1,981   

Unearned premiums

     1,649   

Accrued ceding commission expense

     112   

Other liabilities

     254   
  

 

 

 

Total liabilities

     59,313   
  

 

 

 

Stockholder’s equity:

  

Common stock, $1 par value; 1,000 shares issued and outstanding

     1   

Additional paid-in capital

     69,879   

Retained earnings

     89,102   
  

 

 

 

Total stockholder’s equity

     158,982   
  

 

 

 

Total liabilities and stockholder’s equity

   $ 218,295   
  

 

 

 


WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED JUNE 30, 2013

(in thousands)

 

 

 

     June 30, 2013  

Revenues:

  

Premiums earned

   $ 1,098   

Net investment income

     (2,076
  

 

 

 

Total revenues

     (978
  

 

 

 

Expenses:

  

Underwriting Expenses

     4   

General and administrative expenses

     218   
  

 

 

 

Total expenses

     222   
  

 

 

 

(Loss) income before federal income taxes

     (1,200

Federal income tax benefit

     —     
  

 

 

 

Net (loss) income

   $ (1,200