HomeMy WebLinkAbout04-1543COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, PA April 1,2004
Whereas, the SAEECO 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 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 Pem~sylvania, 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 m~d
affixed my official seal, the day and year first above written.
Insurance Commissioner
SAFECO'
SAFECO INSURANCE COMPANY OF AMEKICA
FINANCIAL STATEMENT -- DECEMBER 31, 2003
Assets
Cash and Bank Deposits .....................................$ (41,129,046)
*Bonds-- U.S Government ....................................191,611,176
*Other Bonds ........................................................... 2,268,566,075
*Stocks .................................................................... 456,062,250
Real Estate ............................................................. 12,440,327
Agents' Balances or Uncollected Premiums .......... 332,460,470
Accrued Interest and Rents .................................... 35,146,561
Other AdmiRed Assets ........................................... 163,785,853
Total Admitted Assets .................................... $t,41g,94~666
Liabilities
Unearned Premiums .............................................. $ 662,746,717
Reserve for Claims and Claims Expense ................... 1,560,406,318
Funds Held Under Reinsurance Treaties ............... 577,176
Reserve for Dividends to Policyholders ............................ 1,168,869
Additional Statutory Reserve ................................
Reserve for Commissions, Taxes and
Other Liabilities .............................................. 375.568.628
Total ........................................................... $2,600,467,708
Capital Stock ............................. $ 5,000,000
Paid in Surplus ................................ 227.306,484
Unassigned Surplas .................. 586,169,474
Surplus to Policyholders .............................
Total Liabilities and Sarplas ..............................5;3,418~943.666
* Bonds are stated at amortized or investment value: Stocks at Association Market Values.
Securities camed at $113,865,629 are deposited as required by/aw.
I, 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 3 I, 2003, to the best of my knowledge and belief,
IN WITNESS WHEREOF, I have hereunto set my hand and alTlxed the seal of said Corporation at SeaRle, Washington, this 1st day of
March, 2004.
President