HomeMy WebLinkAbout03-2286COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, PA April 1~ 2003
Whereas, the SAFECO INSURANCE COMPANY OF AMERICA, located at Seattle, WA, 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 17~ 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 SAFECO Insurance Company of America, of Seattle, WA, 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
, SAFECO'
SAFECO INSURANCE COMPANY OF AMERICA
FINANCIAL STATEMENT -- DECEMBER 31, 2002
Assets
Cash and Bank Deposits ......................................$ 179,469.961
*Bonds -- U.S Government ....................................268,315,526
*Other Bonds ........................................................... 1,951,399,639
*Stocks ....................................................................
Real Estate .............................................................
Agents' Balances or Uncollected Premiums ..........
Accrued Interest and Rents ....................................
Other Admitted Assets ...........................................
389,420,765
13,429,179
296,414,018
34,269,055
252,280,905
Total Admitted Assets .................................... $3.384.999.04fl
Liabilities
Unearned Premiums .............................................. $ 595,543,757
Reserve for Claims and Claims Expense ................... 1,496,818,407
Funds Held Under Reinsurance Treaties ............... 440,473
Reserve for Dividends to Policyholders ............................ 2,564,83 I
Additional Statutory Reserve ................................
Reserve for Commissions, Taxes and
Other Liabilities .............................................. 463,560.925
Total ........................................................... $2,558,928,393
Capital Stock ............................. $ 5,000,000
Paid in Surplus ................................ 227,306,484
Unassigned Surplus .................. 593,764. ! 71
Surplus to Policyholders .............................826~070,655
Total Liabilities and Surplus .............................. $3,.384,999:048
* Bonds are stated at amortized or investment value; Stocks at Association Market Values.
Securities carried at $113,865,629 are deposited as required by law.
l, MICHAEL C. PETERS, president of SAFECO National Insurance Company, do hereby certify that the foregoing is a true. and correct
statement of the Assets and Liabilities of said Corporation, as of December 31, 2002, to the best of my knowledge and belief.
IN WITNESS WHEREOF, 1 have hereunto set my hand and affixed the seal of said Corporation at Seattle. Washington. this 1st dax of
March, 2003.
President
S-1262a 3/02 ® A registered traclemark of SAFEC0 Coroorat~on