HomeMy WebLinkAbout07-2891Harrisburg, PA April 1, '1007
Whereas, the WESTERN SURETY COMPANY, located at Sioux Falls, SD, has filed in this DepartmPn±
a certified copy of its charter and a detailed statement of its Assets acid 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`h day of IV1ay,
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, Randolph L. Rohrbaugh, Acting 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 became 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 W reof, I have h to set my hand and
affixed m i 1 s th ay year first above written.
Acting Insurance Commissioner
WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Condition and Affairs
December 31, 2006
ASSETS
Bonds
Stocks $746,774,301
Cash and short-term investments 18,582,255
Other invested assets 92,003,241
Uncollected premiums and agents' balances 22,130
Amounts recoverable from reinsurers 38,560,254
Funds held by or deposited with reinsured companies 1,741,076
Federal income tax recoverable 33,145,165
Net deferred tax asset 856,171
Electronic data processing equipment and software 15,833,057
Investment income due and accrued 1,669,285
Other assets 9,662,524
Total Assets 792.731
$959,642,190
LIABILITIES AND SURPLUS
Losses
Loss adjustment expense $217,493,474
Contingent and other commissions payable 56,465,342
Other expense 3,924,607
Taxes, licenses and fees 19,371,110
Unearned premiums 3,197,224
Retroactive reinsurance reserve assumed 244,883,556
Other liabilities 10,535,196
Total Liabilities X4_,7 6 09
610,627,018
Surplus Account:
Capital paid up $4,000,000
Gross paid in and contributed surplus 176 435 232
Unassigned funds 168,57Q,Q40
Surplus as regards policyholders
Total Liabilities and Capital $349,015,172
$959, 91246 0
I, Philip E. Lundy, Vice President and Treasurer of Western Surety Company hereby certify that the
above is an exact copy of the financial statement of the Company dated December 31, 2006, as filed with
the various Insurance Departments and is a true and correct statement of the condition of Western Surety
Company as of that date.
KATHRYN J. SCHROEDER Western Surety Company
'tea ~ oor ss"'.
By
Vice Presi t, Treasurer
Subscribed and sworn to me this 20 day of _ February 2007.
My commission expires• ,
KATHRYN J. SCHROEDER c:~ ~,pt~C.v'v
My Commission Expires 7-21-2009 Notary ublic
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