EX-99.1 2 d815837dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF SEPTEMBER 30, 2014

(in thousands, except share data)

 

 

 

ASSETS   

Investments held in trust, at fair value:

  

Fixed-maturity securities

   $ 55,710   

Cash equivalents held in trust

     10,444   
  

 

 

 

Total investments held in trust

     66,154   

Cash and cash equivalents

     1,267   

Fixed-maturity securities, at fair value

     8,134   

Accrued investment income

     555   

Premiums receivable

     585   
  

 

 

 

Total assets

   $ 76,695   
  

 

 

 
LIABILITIES AND STOCKHOLDERS EQUITY   

Liabilities:

  

Losses and loss adjustment expenses

   $ 17,894   

Losses payable

     642   

Unearned premiums

     1,156   

Accrued ceding commission expense

     48   

Other liabilities

     152   
  

 

 

 

Total liabilities

     19,892   
  

 

 

 

Stockholder’s equity:

  

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

     1   

Additional paid-in capital

     69,879   

Retained (deficit) earnings

     (13,077
  

 

 

 

Total stockholder’s equity

     56,803   
  

 

 

 

Total liabilities and stockholder’s equity

   $ 76,695   
  

 

 

 


WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED SEPTEMBER 30, 2014

(in thousands)

 

 

 

Revenues:

  

Premiums earned

   $ 571   

Net investment income

     (61
  

 

 

 

Total revenues

     510   
  

 

 

 

Expenses:

  

Underwriting Expenses

     654   

General and administrative expenses

     158   

Loss from contract termination

     —     
  

 

 

 

Total expenses

     812   
  

 

 

 

(Loss) income before federal income taxes

     (302

Federal income tax benefit

     —     
  

 

 

 

Net (loss) income

   $ (302