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COMMONWEALTH OF PENNSYLVANIA
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o~"'E~[n,OioENN`~y' INSURANCE DEPARTMENT
Harrisburg, PA Aaril 1, 2009
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. 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 3une 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.
Commissioner
WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Condition and Affairs
December 31, 2008
ASSETS
Bonds $1,008,502,414
Stocks 20,960,267
Cash and short-term investments 73,631,995
Uncollected premiums and agents' balances 36,880,707
Amounts recoverable from reinsurers 3,378,807
Funds held by or deposited with reinsured companies 29,505,820
Net deferred tax asset 19,970,930
Electronic data processing equipment and software 1,806,700
Investment income due and accrued 13,053,922
Other assets 1,901,307
Total Assets $1,209,592,869
LIABILITIES AND SURPLUS
Losses $257,306,815
Loss adjustment expense 71,399,288
Contingent and other commissions payable 6,015,130
Other expense 31,615,064
Taxes, licenses and fees 2,424,229
Federal and foreign income taxes payable 2,078,327
Unearned premiums 251,722,105
Retroactive reinsurance reserve assumed 11,063,519
Other liabilities 21,330,970
Total Liabilities 654,955,447
Surplus Account:
Capital paid up $4,000,000
Gross paid in and contributed surplus 176,435,232
Un~~ i ed funds 374,202.190
,w.+ ~i~t-~egards policyholders $554,b37,422
To~t6t'~; itities.,Capital $1,209,592,869
Iy~ $~Ji L ~Te President and Treasurer of Western Surety Company hereby certify that the
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a$~;i~ a c~; of the financial statement of the Company dated December 31, 2008, as filed with
they ~ Departments and is a true and correct statement of the condition of Western Surety
Comp~t~g ~ll~at date.
Western Surety Company
KATHRYN J. SCHROEDER
:8,~. BY
Vice Presi t, Treasurer
Subscribed and sworn to me this 31 day of March , 2009.
My commission expires: ~~
KATHRYN J.SCHROEDER
My Commission Expires 7-21-2009 Notary ublic
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