HomeMy WebLinkAbout03-2110 7~o. 0 3- ,2//0
COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, PA April 1~ 2003
Whereas, the WESTERN SURETY COMPANY, located at Sioux Falls, SD, has filed in this Department
a certified copy of its charter and a detailed statement of its Assets and Liabilities, and otherwise complied with
the requirements of Section 661 of the Act of Assembly of the Commonwealth of Pennsylvania, entitled "An
act relating to insurance; amending, revising and consolidating the Law &c.," approved the 17th day of May,
A.D. 1921, as well as with the requirements of the laws of this Commonwealth applicable to such company in
doing business herein.
Now Therefore, I, M. Diane Koken~ Insurance Commissioner of the Commonwealth of Pennsylvania, do
hereby certify, in accordance with Section 1, of the Act of Assembly approved June 29, 1923 and known as act
No. 373 of the Laws of 1923, that the Western Surety Company, of Sioux Falls, SD, is duly authorized to
become and be accepted as sole surety on all bonds, undertakings and obligations required or permitted by law
or the ordinances, rules or regulations of any municipality, board, body, organization, or public officer.
In Witness Whereof, I have hereunto set my hand and
affixed my official seal, the day and year first above written.
Insurance Commissioner
WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Condition and Affairs
December 31, 2002
ASSETS
Bonds
Stocks
Cash & short-term investments
Other invested assets
Receivable for securities
Agents balances or uncollected premiums
Reinsurance recoverable on loss payments
Electronic data processing equipment and
operating software
Interest, diwdends and real estate income
due and accrued
Federal income tax recoverable
Net deferred tax asset
Other assets
Total Assets
LIABILITIES AND SURPLUS
Losses
Reinsurance payable on paid loss and loss
adjustment expenses
Loss adjustment expense
Contingent and other commissions payable
Other expense
Taxes, licenses and fees
Unearned premiums
Retroactive reinsurance reserve assumed
Other liabilities
Total Liabilities
Surplus Account:
Capital paid up
Gross paid in & contributed surplus
Unassigned funds
Su~lus as regards policyholders
Total Liabilities and Capital
4,000,000
131,864,948
82,720,340
$ 494,083,192
11,628,165
48,851,500
294,926
2,593
47,565,982
3,545,833
3,658,840
7,043,820
3,319,473
11,240,095
1,865,039
$ 94,292,962
3,974,411
32,811,972
5,186,454
13,748,662
1,616,971
196,209,078
31,058,235
35,615,425
414,514,170
$ 218,585,288
I, Phil Lundy, Vice President and Treasurer of Western Surety Company hereby
certif that the above is an exact copy of the f'mancial statement of the Compan
datedYl~ecember 31, 2002 as filed vCith the various Insurance Departments and Is a true
and correct statement of the condition of Western Surety Company as of that date.
~ N~TAR¥ PUBIJO ~ ~
Subscribed and sworn to me this
My commission expires:
KA'I'HRYN J. SCHROEDER
My Commission Expires 7-21-200:~
Western Surety Company
Vice President, Treasurer
day of
20~03f'
Nom~ ~bUc