Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF JANUARY 31, 2017
(in thousands, except share data)
ASSETS |
| ||
Investments held in trust, at fair value: |
|
|
|
Fixed-maturity securities | $ | 28,944 |
|
Cash equivalents held in trust |
| 1,377 |
|
Total investments held in trust |
| 30,321 |
|
Cash and cash equivalents |
| 1,109 |
|
Fixed-maturity securities, at fair value |
| 2,654 |
|
Accrued investment income |
| 241 |
|
Prepaid expenses |
| 13 |
|
Premiums receivable |
| 152 |
|
Total assets | $ | 34,490 |
|
|
|
|
|
LIABILITIES AND STOCKHOLDER’S EQUITY |
| ||
Liabilities: |
|
|
|
Losses and loss adjustment expenses | $ | 187 |
|
Losses payable |
| 189 |
|
Unearned premiums |
| 54 |
|
Accrued ceding commission expense |
| 17 |
|
Other liabilities |
| 184 |
|
Total liabilities |
| 631 |
|
Stockholder’s equity: |
|
|
|
Common stock, $1 par value; 1,000 shares issued and outstanding |
| 1 |
|
Additional paid-in capital |
| 69,879 |
|
Retained deficit |
| (36,021 | ) |
Total stockholder’s equity |
| 33,859 |
|
Total liabilities and stockholder’s equity | $ | 34,490 |
|
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED JANUARY 31, 2017
(in thousands)
Revenues: |
|
|
|
Premiums earned | $ | 152 |
|
Net investment income |
| 49 |
|
Total revenues |
| 201 |
|
Expenses: |
|
|
|
Underwriting benefit |
| (66 | ) |
General and administrative expenses |
| 191 |
|
Total expenses |
| 125 |
|
Income before federal income taxes |
| 76 |
|
Federal income tax expense |
| — |
|
Net income | $ | 76 |
|
