EX-99.1 2 d595645dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF JULY 31, 2013

(in thousands, except share data)

 

 

 

ASSETS   

Investments held in trust, at fair value:

  

Fixed-maturity securities

   $ 173,085   

Cash equivalents held in trust

     15,129   
  

 

 

 

Total investments held in trust

     188,214   

Cash and cash equivalents

     1,192   

Fixed-maturity securities, at fair value

     10,435   

Accrued investment income

     1,476   

Premiums receivable

     1,041   
  

 

 

 

Total assets

   $ 202,358   
  

 

 

 
LIABILITIES AND STOCKHOLDERS EQUITY   

Liabilities:

  

Losses and loss adjustment expenses

   $ 53,784   

Losses payable

     2,676   

Unearned premiums

     1,626   

Accrued ceding commission expense

     110   

Other liabilities

     176   
  

 

 

 

Total liabilities

     58,372   
  

 

 

 

Stockholder’s equity:

  

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

     1   

Additional paid-in capital

     69,879   

Retained earnings

     74,106   
  

 

 

 

Total stockholder’s equity

     143,986   
  

 

 

 

Total liabilities and stockholder’s equity

   $ 202,358   
  

 

 

 


WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED JULY 31, 2013

(in thousands)

 

 

 

Revenues:

  

Premiums earned

   $ 1,020   

Net investment income

     414   
  

 

 

 

Total revenues

     1,434   
  

 

 

 

Expenses:

  

Underwriting Expenses

     1,253   

General and administrative expenses

     177   
  

 

 

 

Total expenses

     1,430   
  

 

 

 

(Loss) income before federal income taxes

     4   

Federal income tax benefit

     —     
  

 

 

 

Net (loss) income

   $ 4