Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF JUNE 30, 2016
(in thousands, except share data)
ASSETS |
| ||
Investments held in trust, at fair value: |
|
|
|
Fixed-maturity securities | $ | 29,764 |
|
Cash equivalents held in trust |
| 2,819 |
|
Total investments held in trust |
| 32,583 |
|
Cash and cash equivalents |
| 448 |
|
Fixed-maturity securities, at fair value |
| 3,296 |
|
Accrued investment income |
| 234 |
|
Premiums receivable |
| 93 |
|
Total assets | $ | 36,654 |
|
|
|
|
|
LIABILITIES AND STOCKHOLDER’S EQUITY |
| ||
Liabilities: |
|
|
|
Losses and loss adjustment expenses | $ | 927 |
|
Losses payable |
| 133 |
|
Unearned premiums |
| 345 |
|
Accrued ceding commission expense |
| 26 |
|
Other liabilities |
| 149 |
|
Total liabilities |
| 1,580 |
|
Stockholder’s equity: |
|
|
|
Common stock, $1 par value; 1,000 shares issued and outstanding |
| 1 |
|
Additional paid-in capital |
| 69,879 |
|
Retained deficit |
| (34,806 | ) |
Total stockholder’s equity |
| 35,074 |
|
Total liabilities and stockholder’s equity | $ | 36,654 |
|
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED JUNE 30, 2016
(in thousands)
Revenues: |
|
|
|
Premiums earned | $ | 213 |
|
Net investment income |
| 89 |
|
Total revenues |
| 302 |
|
Expenses: |
|
|
|
Underwriting expense |
| 71 |
|
General and administrative expenses |
| 145 |
|
Total expenses |
| 216 |
|
Income before federal income taxes |
| 86 |
|
Federal income tax benefit |
| — |
|
Net income | $ | 86 |
|
