Exhibit 99.1
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED BALANCE SHEET
AS OF JUNE 30, 2017
(in thousands, except share data)
ASSETS | |
Investments held in trust, at fair value: | | | |
Fixed-maturity securities | $ | 22,362 | |
Cash equivalents held in trust | | 7,503 | |
Total investments held in trust | | 29,865 | |
Cash and cash equivalents | | 544 | |
Fixed-maturity securities, at fair value | | 1,700 | |
Accrued investment income | | 133 | |
Premiums receivable | | 117 | |
Total assets | $ | 32,359 | |
| | | |
LIABILITIES AND STOCKHOLDER’S EQUITY | |
Liabilities: | | | |
Losses and loss adjustment expenses | $ | 230 | |
Unearned premiums | | 35 | |
Accrued ceding commission expense | | 13 | |
Other liabilities | | 130 | |
Total liabilities | | 408 | |
Stockholder’s equity: | | | |
Common stock, $1 par value; 1,000 shares issued and outstanding | | 1 | |
Additional paid-in capital | | 69,879 | |
Retained deficit | | (37,929 | ) |
Total stockholder’s equity | | 31,951 | |
Total liabilities and stockholder’s equity | $ | 32,359 | |
WM MORTGAGE REINSURANCE COMPANY, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
FOR THE MONTH ENDED JUNE 30, 2017
(in thousands)
Revenues: | | | |
Premiums earned | $ | 113 | |
Net investment income | | 11 | |
Total revenues | | 124 | |
Expenses: | | | |
Underwriting expense | | 33 | |
General and administrative expenses | | 134 | |
Total expenses | | 167 | |
Loss before federal income taxes | | (43 | ) |
Federal income tax expense | | — | |
Net loss | $ | (43 | ) |
