Exhibit 99.1
Financial Statement Schedules of the Trust
Schedule Number Description
- ---------------- ------------
I Summary of Investments - Other than
Investments in Related Parties
II Condensed Financial Information of
Registrant
III Supplementary Insurance Information
IV Reinsurance
V Valuation and Qualifying Accounts
VI Supplemental Information Concerning
Property - Casualty Insurance Operations
DELTA AGRICULTURAL AND INDUSTRIAL TRUST
SCHEDULE I - SUMMARY OF INVESTMENTS -
OTHER THAN INVESTMENTS IN RELATED PARTIES
DECEMBER 31, 1996 AND 1995
MARCH 31, 1997 AND 1996
DECEMBER 31, 1996
Balance
Sheet
Type of Investment Cost Value Amount
- -------------------------------------------------------------------------
Fixed maturities:
Bonds:
United States
Government and
government agencies
and authorities $98,966 $98,022 $98,966
States, municipalities
and political
subdivisions 626,574 619,364 619,364
Certificates of deposit 948,084 946,058 946,058
--------- --------- ---------
Total fixed maturities 1,673,624 1,663,444 1,664,388
--------- --------- ---------
Equity securities:
Common stocks:
Industrial,
miscellaneous and
all other 1,696,944 1,696,944 1,696,944
--------- --------- ---------
Total investments $3,370,568 $3,360,388 $3,361,332
========= ========= =========
DECEMBER 31, 1995
Fixed maturities:
Bonds:
United States
Government and
government agencies
and authorities $94,829 $93,071 $94,829
States, municipalities
and political
subdivisions 178,420 178,676 178,420
Certificates of deposit 1,973,896 1,975,106 1,973,896
--------- --------- ---------
Total fixed maturities 2,247,145 2,246,853 2,247,145
--------- --------- ---------
Equity securities
Common stocks:
Industrial,
miscellaneous and
all other 2,580,183 2,469,692 2,469,692
--------- --------- ---------
Total investments $4,827,328 $4,716,545 $4,716,837
========= ========= =========
MARCH 31, 1997
Fixed maturities:
Bonds:
States, municipalities
and political
subdivisions 626,168 612,417 612,417
Certificates of deposit 946,957 943,774 943,774
--------- --------- ---------
Total fixed maturities 1,573,125 1,556,191 1,556,191
--------- --------- ---------
Equity securities
Common stocks:
Industrial,
miscellaneous and
all other 247 247 247
--------- --------- ---------
Total investments $1,573,372 $1,556,438 $1,556,438
========= ========= =========
MARCH 31, 1996
Fixed maturities:
Bonds:
United States
Government and
government agencies
and authorities $95,863 $93,825 $95,863
States, municipalities
and political
subdivisions 178,093 176,703 176,703
Certificates of deposit 1,880,072 1,872,745 1,872,745
--------- --------- ---------
Total fixed maturities 2,154,028 2,143,273 2,145,311
--------- --------- ---------
Equity securities
Common stocks:
Industrial,
miscellaneous and
all other 2,438,645 2,438,645 2,438,645
--------- --------- ---------
Total investments $4,592,673 $4,581,918 $4,583,956
========= ========= =========
DELTA AGRICULTURAL AND INDUSTRIAL TRUST
SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT
DECEMBER 31, 1996 AND 1995
MARCH 31, 1997 AND 1996
Schedule II is not applicable. The registrant has no
subsidiaries.
DELTA AGRICULTURAL AND INDUSTRIAL TRUST
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION
DECEMBER 31, 1996 AND 1995
MARCH 31, 1997 AND 1996
Future Other
Deferred Policy Policy
Policy Benefits, Claims and
Acquisition Claims and Unearned Benefits
Segment Costs Loss Exp. Claims Payable
- ------------------------------------------------------------
DECEMBER 31
1996
See Note $0 $2,834,220 $0 $0
DECEMBER 31
1995
See Note $0 $3,713,923 $1,466,279 $0
MARCH 31
1997
See Note $0 $2,345,052 $0 $0
MARCH 31
1996
See Note $0 $3,439,700 $1,223,856 $0
Benefits, Amorti-
Claims, zation of
Net loss and Deferred
Invest- Settle- Policy Other
Premium ment ment Acq. Operating Premiums
Segment Revenue Income Expenses Costs Expenses Written
- ------------ --------------------------------------------------------------------------------
DECEMBER 31 $1,987,491 $297,076 $1,215,914 $0 $479,507 $2,077,351
1996
See Note
DECEMBER 31 $5,323,952 $328,027 $3,075,054 $0 $469,082 $5,659,925
1995
See Note
MARCH 31 $0 $ 51,961 $0 $0 $ 93,870 $ 0
1997
See Note
MARCH 31 $1,249,862 $ 65,128 $ 466,230 $0 $115,327 $1,294,792
1996
See Note
Note: Delt Agricultural and Industrial Trust wrote only Workers' Compensation
Insurance in 1996. Therefore, there were no segments to report.
DELTA AGRICULTURAL AND INDUSTRIAL TRUST
SCHEDULE IV - REINSURANCE
DECEMBER 31, 1996 and 1995
MARCH 31, 1997 AND 1996
Percentage
Ceded to Assumed of Amount
Gross Other From Other Net Assumed to
Amount Companies Companies Amount Net
------------------------------------------------------------
Premiums
- --------
Property and
Liability Insurance*
DECEMBER 31, 1996 $2,077,351 $ 89,860 $0 $1,987,491 0.00%
======================================================
DECEMBER 31, 1995 $5,659,925 $335,973 $0 $5,323,952 0.00%
======================================================
MARCH 31, 1997 $ 0 $ 0 $0 $ 0 0.00%
======================================================
MARCH 31, 1996 $1,294,792 $ 44,930 $0 $1,249,862 0.00%
======================================================
*Workers Compensation
Delta Agricultural and Industrial Trust
Schedule V - Valuation and Qualifying Accounts
December 31, 1996 and 1995
March 31, 1997 and 1996
Additions
---------------------
Balance Charged Charged Balance
Beginning to Costs to Other End of
Description Period & Expense Accounts Deductions Period
- --------------------------------------------------------------------------
Allowance deducted from asset to which it applies:
Allowance for
doubtful
accounts:
Year ended
December
31, 1995
(Note A) $97,332 - - $80,555 $16,777
Year ended
December
31, 1996
(Note A) 16,777 - - 16,777 0
Period ended
March
31, 1997
(Note A) $16,777 - - $16,777 $ 0
Period ended
March
31, 1996
(Note A) $ 0 - - 0 0
Allowance
for Unrealized
losses on securities
available-for-sale
Year ended
December
31, 1995
(Note C) 158,987 - - 48,496 110,491
Year ended
December
31, 1996
(Note B) 110,491 - - 101,255 9,236
Period ended
March
31, 1997
67,160 - - 58,773 8,717
Period ended
March
31, 1996
9,236 - 7,714 - 16,950
Note A - Uncollected receivables written off net of recoveries. Note B - Loss
recognized on securities sold or reclassified as "Trading Securities". Note C -
Loss recognized on securities sold and write-up of marketable securities
previously written down.
DELTA AGRICULTURAL AND INDUSTRIAL TRUST
SCHEDULE VI - SUPPLEMENTAL INFORMATION
CONCERNING PROPERTY-CASUALTY INSURANCE OPERATIONS
DECEMBER 31, 1996 AND 1995
MARCH 31, 1997 AND 1996
Deferred Reserve for
Affiliation Policy Unpaid Claims Net
with Acquisition and Claim Unearned Earned Investment
Registrant Costs Adj. Expense Discount Premiums Premiums Income
- --------------------------------------------------------------------------------------------------------------
December 31, 1996
Registrant $0 $2,834,220 $237,894 $0 $1,987,491 $297,076
December 31, 1995
Registrant $0 $3,713,923 $251,104 $1,466,279 $5,323,952 $328,027
March 31, 1997
Registrant $0 $2,345,052 $100,000 $0 $ 0 $ 51,961
March 31, 1996
Registrant $0 $3,439,700 $251,104 $1,223,856 $1,249,862 $ 65,128
Claims and Claim
Adjustment Expenses
Incurred Related to Amortization Paid Claims
---------------------- of Deferred and Claim
Current Prior Policy Acq. Adjustment Premium
Year Years Costs Expenses Written
- --------------------------------------------------------------------------------------------------------------
December 31, 1996
Registrant $ 959,032 ($ 42,440) $0 $1,796,295 $2,077,351
December 31, 1995
Registrant $2,558,087 ($109,365) $0 $2,583,968 $5,659,925
March 31, 1997
Registrant $ 0 $ 0 $0 $ 0 $ 0
March 31, 1996
Registrant $ 185,445 $141,136 $0 $ 0 $1,294,792
Note: Delta Agricultural and Industrial Trust has no subsidiaries.