Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF APRIL 30, 2017
(in thousands, except share data)
ASSETS |
| ||
Investments held in trust, at fair value: |
|
|
|
Fixed-maturity securities | $ | 25,870 |
|
Cash equivalents held in trust |
| 3,872 |
|
Total investments held in trust |
| 29,742 |
|
Cash and cash equivalents |
| 1,065 |
|
Fixed-maturity securities, at fair value |
| 2,135 |
|
Accrued investment income |
| 121 |
|
Prepaid expenses |
| 13 |
|
Premiums receivable |
| 151 |
|
Total assets | $ | 33,227 |
|
|
|
|
|
LIABILITIES AND STOCKHOLDER’S EQUITY |
| ||
Liabilities: |
|
|
|
Losses and loss adjustment expenses | $ | 206 |
|
Unearned premiums |
| 42 |
|
Accrued ceding commission expense |
| 14 |
|
Other liabilities |
| 125 |
|
Total liabilities |
| 387 |
|
Stockholder’s equity: |
|
|
|
Common stock, $1 par value; 1,000 shares issued and outstanding |
| 1 |
|
Additional paid-in capital |
| 69,879 |
|
Retained deficit |
| (37,040 | ) |
Total stockholder’s equity |
| 32,840 |
|
Total liabilities and stockholder’s equity | $ | 33,227 |
|
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED APRIL 30, 2017
(in thousands)
Revenues: |
|
|
|
Premiums earned | $ | 113 |
|
Net investment income |
| 51 |
|
Total revenues |
| 164 |
|
Expenses: |
|
|
|
Underwriting expense |
| 18 |
|
General and administrative expenses |
| 132 |
|
Total expenses |
| 150 |
|
Income before federal income taxes |
| 14 |
|
Federal income tax expense |
| — |
|
Net income | $ | 14 |
|
