Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF FEBRUARY 28, 2013
(in thousands, except share data)
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| | February 28, 2013 | |
ASSETS | | | | |
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Investments held in trust, at fair value: | | | | |
Fixed-maturity securities | | $ | 197,952 | |
Cash equivalents held in trust | | | 17,333 | |
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Total investments held in trust | | | 215,285 | |
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Cash and cash equivalents | | | 4,169 | |
Fixed-maturity securities, at fair value | | | 13,187 | |
Accrued investment income | | | 1,516 | |
Premiums receivable | | | 1,146 | |
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Total assets | | $ | 235,303 | |
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LIABILITIESAND STOCKHOLDER’S EQUITY | | | | |
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Liabilities: | | | | |
Losses and loss adjustment expenses | | $ | 65,381 | |
Contingency reserve | | | — | |
Losses payable | | | 2,574 | |
Unearned premiums | | | 202 | |
Accrued ceding commission expense | | | 120 | |
Other liabilities | | | 353 | |
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Total liabilities | | | 68,630 | |
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Stockholder’s equity: | | | | |
Common stock, $1 par value; 1,000 shares issued and outstanding | | | 1 | |
Additional paid-in capital | | | 69,879 | |
Contingency reserve | | | — | |
Retained earnings | | | 96,793 | |
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Total stockholder’s equity | | | 166,673 | |
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Total liabilities and stockholder’s equity | | $ | 235,303 | |
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WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITEDCONDENSED STATEMENTOF OPERATIONS
FOR THE MONTH ENDED FEBRUARY 28, 2013
(in thousands)
| | | | |
| | February 28, 2013 | |
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Revenues: | | | | |
Premiums earned | | $ | 1,100 | |
Net investment income | | | 917 | |
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Total revenues | | | 2,017 | |
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Expenses: | | | | |
Underwriting expenses | | | 1,147 | |
General and administrative expenses | | | 254 | |
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Total expenses | | | 1,401 | |
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(Loss) income before federal income taxes | | | 616 | |
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Federal income tax benefit | | | — | |
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Net (loss) income | | $ | 616 | |
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