EX-99.1 2 d56077dex991.htm EX-99.1

EX-99.1

Exhibit 99.1

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED BALANCE SHEET

AS OF AUGUST 31, 2015

(in thousands, except share data)

ASSETS
Investments held in trust, at fair value:
Fixed-maturity securities		$	33,113
Cash equivalents held in trust			4,153
Total investments held in trust			37,266
Cash and cash equivalents			6,219
Fixed-maturity securities, at fair value			7,069
Accrued investment income			356
Prepaid expenses			13
Premiums receivable			466
Total assets		$	51,389
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Losses and loss adjustment expenses		$	4,823
Losses payable			295
Unearned premiums			896
Accrued ceding commission expense			38
Other liabilities			147
Total liabilities			6,199
Stockholder’s equity:
Common stock, $1 par value; 1,000 shares issued and outstanding			1
Additional paid-in capital			69,879
Retained earnings			(24,690	)
Total stockholder’s equity			45,190
Total liabilities and stockholder’s equity		$	51,389

WM MORTGAGE REINSURANCE COMPANY, INC.

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

FOR THE MONTH ENDED AUGUST 31, 2015

(in thousands)

Revenues:
Premiums earned		$	452
Net investment income			(12	)
Total revenues			440
Expenses:
Underwriting expenses			117
General and administrative expenses			149
Total expenses			266
(Loss) income before federal income taxes			174
Federal income tax benefit			—
Net income (loss)		$	174