HomeMy WebLinkAbout01-2798 FX
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COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, P A April 1, 2001
Whereas, the NETHERLANDS INSURANCE COMPANY (THE), located at Keene, N.H., 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 I, of the Act of Assembly approved June 29, 1923 and known as act
No. 373 of the Laws of 1923, that the Netherlands Insurance Company (The), of Keene, N.H., 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.
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" THE NETHERLANDS INSURANCE COMPANY
I certify that the following individuals are officers of The Netherlands Insurance Company as of January 1, 2001, to wit:
Roger L. Jean...............................................,.......Chairman of the Board
Michael R. Christiansen....................... President/Chief Executive Officer
Mark E. Fiebrink........ ..Executive Vice President/Chief Financial Officer
Forrest H, Johnson, Amy J. Leddy, William G. Mersch, Charles B, Ruzicka..........................................................................Senior Vice Presidents
Jane F. Taylor."".......... .....,..........,................... .......................... ................... ,...,......"" .....,.,............ ...,.,,"'" ,........", .......... Vice President/ Secretary
Steve Fulwood, Justin D. Healy, Frank J. Kotarba, Gary J. Ostrow .................................................................................................. Vice Presidents
Nancy C. Callender, Myrna J, Harrington, Kevin M. Killelea, Stephen D. PoweIL.....................................................AssistantVice President
Honore J. Fallon, Timothy Lickness, James R. Pugh....................................,......................,.......................,........................... Assistant Secretaries
James E. Tuite, Richard C. Cloran, Denis M. Drummey, Elliot J. Williams.................................................................. Assistant Treasurers
A Alex Fontanes...Executive Vice President/Chief Investment Office
Joseph P. Tracey.......................... Senior Vice President/ Treasurer
I further CERTIFY that the following Financial Statement of the Company is true, as taken from the books of said Company as of
December 31, 2000 to wit:
LIABILITIES
Reserve for Losses .................................................,..... 25,706,170
Reinsurance Payable on Paid Losses......................................... 0
Reserve for Loss Adjustment Expenses....................... 7,341,761
Reserve for Contingent Commissions ............................. 660,481
Reserve for Other Underwriting Expenses ...................... 682,667
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Reserve fpr Taxes, Licenses and Fees ............................ 328,623
Reserve fpr Federal Income Taxes.....................................,........ 0
Reserve for Unearned Premiums................................. 18,237,085
Payable to Affiliates......................................,............... 27,869,873
Other Liabilities ............................................................. 11,310,451
TOTAL LIABILITIES....................................................... 92,137,111
Capital...............,.............................................................. 3,600,000
Surpl us .................._........................................................ 26,816,290
Surplus ta Policyholders .............................................. 30,416,290
TOTAL LIABILITIES AND CAPITAL............................ 122,553,401
ASSETS
Bonds at Amortized Values ,........................................ $94,981,377
Stocks at Market Values .................................................. 2,172,163
Cash ................................._.................................................. (732,331)
Short-term investments ......................_.............:.............. 2,641,627
Agent Balances..................................................._........... 10,252,288
Accrued Interest ............................................................... 1,494,642
Reinsurance Recoverable................................................. (372,598)
Other Assets ................................................................... 12,116,233
TOTAL ADMITTED ASSETS ......................................... 122,553,401
Securities carried at $2,638,370 on the above statement are deposited as required by law.
I further CERTIFY the following is a true copy of the By-laws of The Netherlands Insurance Company, relating to the execution of bond
and all other writings obligatory in the nature thereof.
ARTICLE IV, SECTION 12
"Any officer or other official of the Corporation authorized for that purpose in writing by the Chairman or the President, and subject to such Iimitatio
as the Chairman or the President may prescribe, shall appoint such attorneys-in-fact, as may be necessary to act in behalf of the Corporation to
make, execute, seal, acknowledge and deliver as surety any and all undertakings, bonds, recognizances and other surety obligations, Such
attorneys-in-fact, subject to the limitations set forth in their respective powers of attorney, shall have full power to bind the Corporation by their
signature and execution Of any such instruments and to attach thereto the Seal of the Corporation. When so executed, such instruments shall b
as binding as if signed by the President and attested to by the Secretary."
Use of facsimile signatureS by The Netherlands Insurance Company is made pursuant to Resolution of the Board of Directors of The Netheriand
Insurance Company, dated April 28, 1988.
TESTIMONY WHEREOF, I hereunto subscribe my name and affix the seai of said Company, this _day of
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President
Subscribed and Sworn to before me this
MyeommiSlljonCJ[pi~s
day of
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Notary ~bliC
My Commission Expires March 18, 2003
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N341-098 (5/01)
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