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COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, PA April 1,2004
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 17tl~ 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 Permsylvania, 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
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
WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Condition and Affairs
December 31, 2003
Bonds
Stocks
Cash and short-term inves~nents
Other invested assets
Uncollected premiums and agents' balances
Amounts recoverable from reinsurers
Other amounts recoverable under reinsurance contracts
Federal income tax recoverable
Net deferred tax asset
Electronic data processing equipment and software
Investment income due and accrued
Other assets
Total Assets
LIARII,ITIFS AND SURPLUS
Losses
Reinsurance payable on paid loss and loss
adjustment expenses
Loss adjustment expense
Contingent and other commissions payable
Other expense
Taxes, licenses and fees
Unearned premiums
Retroactive reinsurance reserve assumed
Other liabilities
Total Liabilities
Surplus Account:
Capital paid up
Gross paid in and contributed surplus
Unassigned funds
Other surplus adjustments
Surplus as regards policyholders
Total Liabilities and Capital
$4,000,000
156,435,232
30,001,591
(14,423)
$497,361,065
26,115,324
47,542,415
156,217
40,010,124
22,642,090
10,937,500
23,259,757
13,361,475
1,855,723
7,491,029
3.981.905
$694,714,624
$190,596,604
61.674
34,459,887
6.085.529
14,397.947
1,881,006
211,655,361
21,526.730
23.627.486
504,292,224
$190.422,400
$694.714,624
I, Philip Lundy, Vice President and Treasurer of Western Surety Company hereby
certify that the above is an exact copy of the fmanciai statement of the Company
dated December 31, 2003, 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.
KATHRYM J. $CHROEDER~
~./~npr~v vueuc~ ~
Subscribed and sworn to me this
My commi.~sion expires:
KATHRYN J. SCHROEDER
My Commission Ex,oires 7-21-2009
Western Su.re~ Compan~
_ day of ~b(H~.lf~.', 2004.