Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF MAY 31, 2017
(in thousands, except share data)
ASSETS |
| ||
Investments held in trust, at fair value: |
|
|
|
Fixed-maturity securities | $ | 25,350 |
|
Cash equivalents held in trust |
| 4,431 |
|
Total investments held in trust |
| 29,781 |
|
Cash and cash equivalents |
| 670 |
|
Fixed-maturity securities, at fair value |
| 1,701 |
|
Accrued investment income |
| 126 |
|
Prepaid expenses |
| 6 |
|
Premiums receivable |
| 101 |
|
Total assets | $ | 32,385 |
|
|
|
|
|
LIABILITIES AND STOCKHOLDER’S EQUITY |
| ||
Liabilities: |
|
|
|
Losses and loss adjustment expenses | $ | 211 |
|
Unearned premiums |
| 36 |
|
Accrued ceding commission expense |
| 16 |
|
Other liabilities |
| 129 |
|
Total liabilities |
| 392 |
|
Stockholder’s equity: |
|
|
|
Common stock, $1 par value; 1,000 shares issued and outstanding |
| 1 |
|
Additional paid-in capital |
| 69,879 |
|
Retained deficit |
| (37,887 | ) |
Total stockholder’s equity |
| 31,993 |
|
Total liabilities and stockholder’s equity | $ | 32,385 |
|
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED MAY 31, 2017
(in thousands)
Revenues: |
|
|
|
Premiums earned | $ | 103 |
|
Net investment income |
| 27 |
|
Total revenues |
| 130 |
|
Expenses: |
|
|
|
Underwriting expense |
| 20 |
|
General and administrative expenses |
| 132 |
|
Total expenses |
| 152 |
|
Loss before federal income taxes |
| (22 | ) |
Federal income tax expense |
| — |
|
Net loss | $ | (22 | ) |
