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COMMONWEALTH OF PENNSYLVANIA
~~
\;~ +y'? INSURANCE DEPARTMENT
ry~~LTN Of PENN
Harrisburg, PA April )! , 298
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. 1 y~ 1, as well as with the requirements of the laws of this Commonwealth applicable to such company in
doing business herein.
Now Therefore, i, Joel Ario, Acting 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 t}~e Laws of 1923, that the Western Surety Company, of Sioux Falls, SD, is cluiy
authorized to b,;come and be accepte:i as sole surety on all bonds, undertakings and obligations required or
permitted by law or the ordirar;ces, rules or regulations of any municipality, board, body, c. ?anization, or
public officer.
~n Witness Whereof, I have hereunto set my hand and
affixed my official seal, the day and year first above written.
C~~
;acting Insurance Commissioner
+. +~.
WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Condition and Affairs
December 31, 2007
ASSETS
Bonds $921,938,370
Stocks 20,250,435
Cash and short-term investments 41,487,866
Uncollected premiums and agents' balances 37,141,595
Amounts recoverable from reinsurers 638,013
Funds held by or deposited with reinsured companies 31,119,059
Federal income tax recoverable 1,153,773
Net deferred tax asset 16,092,420
Electronic data processing equipment and software 910,607
Investment income due and accrued 11,862,323
Other assets 1,179,869
Total Assets $1,083,774,330
LIABILITIES AND SURPLUS
Losses $244,324,775
Reinsurance payable on paid loss and loss p
adjustment expenses
Loss adjustment expense 63,019,064
Contingent and other commissions payable 5,024,665
Other expense 19 014 635
Taxes, licenses and fees 3,097,450
Unearned premiums 251,677,091
Retroactive reinsurance reserve assumed 10,283,292
Other liabilities 45
108
485
Total Liabilities ,
,
641,549,457
Surplus Account:
Capital paid up $4,000,000
Gross paid in and contributed surplus 176,435,232
U~n~~ ~i ned funds 261,789,641
,ti# ` regards policyholders $442,224,873
Total-L ilitiesa~,Capital $1,083,774,330
• ,.. ~ ..
l ~[iilip, L ry,~Vd President and Treasurer of Western Surety Company hereby certify that the
alior~i~, at ct•~~ of the financial statement of the Company dated December 31, 2007, as filed with
there $ • c~ Departments and is a true and correct statement of the condition of Western Surety
Comp, ~ ~ll~at date.
KATHRYN J. SCHROEDER Western Surety Company
'moo e~arr'~'o~u~coi~ sfiu. BY
Vice Presi t, Treasurer
Subscribed and sworn to me this 28th day of February, , 2008.
My commission expires: ~~
KATHRYN J.SCHROEDER
My Commission Expires 7-21-2009 Notary ublic
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