Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF SEPTEMBER 30, 2016
(in thousands, except share data)
ASSETS |
| ||
Investments held in trust, at fair value: |
|
|
|
Fixed-maturity securities | $ | 29,495 |
|
Cash equivalents held in trust |
| 2,329 |
|
Total investments held in trust |
| 31,824 |
|
Cash and cash equivalents |
| 405 |
|
Fixed-maturity securities, at fair value |
| 2,979 |
|
Accrued investment income |
| 252 |
|
Premiums receivable |
| 260 |
|
Total assets | $ | 35,720 |
|
|
|
|
|
LIABILITIES AND STOCKHOLDER’S EQUITY |
| ||
Liabilities: |
|
|
|
Losses and loss adjustment expenses | $ | 576 |
|
Losses payable |
| 10 |
|
Unearned premiums |
| 298 |
|
Accrued ceding commission expense |
| 25 |
|
Other liabilities |
| 134 |
|
Total liabilities |
| 1,043 |
|
Stockholder’s equity: |
|
|
|
Common stock, $1 par value; 1,000 shares issued and outstanding |
| 1 |
|
Additional paid-in capital |
| 69,879 |
|
Retained deficit |
| (35,203 | ) |
Total stockholder’s equity |
| 34,677 |
|
Total liabilities and stockholder’s equity | $ | 35,720 |
|
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED SEPTEMBER 30, 2016
(in thousands)
Revenues: |
|
|
|
Premiums earned | $ | 266 |
|
Net investment income |
| 13 |
|
Total revenues |
| 279 |
|
Expenses: |
|
|
|
Underwriting expense |
| 30 |
|
General and administrative expenses |
| 134 |
|
Total expenses |
| 164 |
|
Income before federal income taxes |
| 115 |
|
Federal income tax benefit |
| — |
|
Net income | $ | 115 |
|
