HomeMy WebLinkAbout09-2461
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COMMONWEALTH OF PENNSYLVANIA
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~°~wE~tTM°F~a~4r INSURANCE DEPARTMENT
Harrisburg, PA April 1, 2009
Whereas, the CONTINENTAL CASUALTY COMPANY, located at Chicago, IL, 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`n
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, Joel Ario, 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 Continental Casualty Company, of Chicago, IL, 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.
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CONTINENTAL CASUALTY COMPANY
STATEMENT OF NET ADMITTED ASSETS AND LIABILITIES
December 31, 2008
ASSETS:
Cash $ 32,948,854
Cash equivalents 293,003,603
Short-term investments (principally U.S. government obligations} 1,407,237,212
United States government obligations 2,363,257,099
Other public bonds 8,171,223,556
Industrial and miscellaneous bonds 13,465,541,5 57
Preferred stocks 1,254,404,795
Common stocks of affiliated companies 3,246,633,566
Other common stocks 210,504,954
Real estate 136,159,567
Premiums and agents' balances in course of collection 400,711,373
Premiums, agents balances and installments booked but
deferred and not yet due 656,032,560
Accrued retrospective premiums 229,315,760
Investment income due and accrued 256,299,406
Other assets 6,526,250,476
Admitted assets $ 38,649,524,338
LIABILITIES:
Unearned premium reserve $ 8,520,722,900
Reserve for loss and loss adjustment expense 20,032,186,822
Reserve for taxes, licenses and fees (including federal income taxes) 174,996,881
Other liabilities 2,102,653,286
Total liabilities 30,830,559,889
SURPLUS:
Capital paid up ($5.00 par value)
Shares authorized: 8,425,000 issued: 7,126,513 35,632,565
Gross paid in and contributed surplus 5,657,112,191
Surplus notes 1,000,000,000
Surplus 1,126,219,693
Surplus as regards policyholders 7,818,964,449
Total $ 38,649,524,338
Failure of items to add to totals shown is due to rounding.
State of Illinois )
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County of Cook)
On this 3rd day of April, 2009, before me came Amy Adams and Jerry F. Sliwa, known
to me personally to be the ice President and the Assistant Vice President, respectively, of
Continental Casualty Company being fully sworn, certify and attest that the foregoing
stat ent is a true and correct statement of the assets and liabilities of the said company as of the date
sho~ in the slater~nt
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