EX-99.1 2 d671723dex991.htm EX-99.1

EX-99.1

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF DECEMBER 31, 2013

(in thousands, except share data)

ASSETS
Investments held in trust, at fair value:
Fixed-maturity securities		$	145,904
Cash equivalents held in trust			33,093
Total investments held in trust			178,997
Cash and cash equivalents			3,490
Fixed-maturity securities, at fair value			7,544
Accrued investment income			848
Premiums receivable			984
Total assets		$	191,863
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Losses and loss adjustment expenses		$	41,872
Losses payable			2,517
Unearned premiums			1,394
Accrued ceding commission expense			102
Other liabilities			198
Total liabilities			46,083
Stockholder’s equity:
Common stock, $1 par value; 1,000 shares issued and outstanding			1
Additional paid-in capital			69,879
Retained earnings			75,900
Total stockholder’s equity			145,780
Total liabilities and stockholder’s equity		$	191,863

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED DECEMBER 31, 2013

(in thousands)

Revenues:
Premiums earned		$	970
Net investment income			(263	)
Total revenues			707
Expenses:
Underwriting Expenses			233
General and administrative expenses			187
Total expenses			420
(Loss) income before federal income taxes			287
Federal income tax benefit			—
Net (loss) income		$	287