EX-99.1 2 d904904dex991.htm EX-99.1

EX-99.1

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF FEBRUARY 28, 2015

(in thousands, except share data)

ASSETS
Investments held in trust, at fair value:
Fixed-maturity securities		$	49,010
Cash equivalents held in trust			7,581
Total investments held in trust			56,591
Cash and cash equivalents			61
Fixed-maturity securities, at fair value			5,718
Accrued investment income			498
Prepaid expenses			6
Premiums receivable			537
Total assets		$	63,411
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Losses and loss adjustment expenses		$	6,295
Losses payable			220
Unearned premiums			903
Accrued ceding commission expense			42
Other liabilities			296
Total liabilities			7,756
Stockholder’s equity:
Common stock, $1 par value; 1,000 shares issued and outstanding			1
Additional paid-in capital			69,879
Retained earnings			(14,225	)
Total stockholder’s equity			55,655
Total liabilities and stockholder’s equity		$	63,411

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED FEBRUARY 28, 2015

(in thousands)

Revenues:
Premiums earned		$	516
Other income			—
Net investment income			4
Total revenues			520
Expenses:
Underwriting expenses			119
General and administrative expenses			225
Loss from contract termination			—
Total expenses			344
(Loss) income before federal income taxes			176
Federal income tax benefit			—
Net (loss) income		$	176