EX-99.1 2 d67205dex991.htm EX-99.1

EX-99.1

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF JUNE 30, 2015

(in thousands, except share data)

ASSETS
Investments held in trust, at fair value:
Fixed-maturity securities		$	39,241
Cash equivalents held in trust			6,961
Total investments held in trust			46,202
Cash and cash equivalents			1,447
Fixed-maturity securities, at fair value			4,110
Accrued investment income			295
Premiums receivable			466
Total assets		$	52,520
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Losses and loss adjustment expenses		$	5,232
Losses payable			431
Unearned premiums			917
Accrued ceding commission expense			42
Other liabilities			139
Total liabilities			6,761
Stockholder’s equity:
Common stock, $1 par value; 1,000 shares issued and outstanding			1
Additional paid-in capital			69,879
Retained earnings			(24,121	)
Total stockholder’s equity			45,759
Total liabilities and stockholder’s equity		$	52,520

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

As of June 30, 2015

(in thousands)

Revenues:
Premiums earned		$	455
Net investment income			(59	)
Total revenues			396
Expenses:
Underwriting expenses			290
General and administrative expenses			146
Total expenses			436
(Loss) income before federal income taxes			(40	)
Federal income tax benefit			—
Net income (loss)		$	(40	)