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COMMONWEALTH OF PENNSYLVANIA
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INSURANCE DEPARTMENT
NwE<fTH OF /ENN4
Harrisburg, PA April 1, 2009
Whereas, the PENNSYLVANIA NATIONAL MUTUAL CASUALTY INSURANCE COMPANY,
located at Harrisburg, PA, has filed in this Department a certified copy of its chanter 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`h 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 Commonwealths 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 Pennsylvania National Mutual Casualty Insurance
Company, of Harrisburg, PA, 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
PENNSYLVANIA NATIONAL MUTUAL
CASUALTY INSURANCE COMPANY, 2008 A1?TNUAL
PENN NATIONAL SECURITY INSURANCE COMPANY AND FOUNDERS INSURANCE COMPANY REPORT
CONSOLIDATED STATUTORY BALANCE SHEETS
AT DECEMBER 31, 2008
ADMITTED ASSETS
Investments:
Bonds S1,003,330,764
Stocks 96,697,738
Real estate 2,304,706
Loans to affiliates 22,820,088
Other assets 15,336
Cash and cash equivalents 36,056,434
Total cash and investments 1,161,225,066
Agents' balances and uncollected premiums 132,903,694
Investment income due and accrued 11,955,175
Amounts due from reinsurers 8,741,143
Deferred income taxes 24,551,911
Other assets 14,291,428
Total admitted assets 1,35:3,668,417
LIABILITIES
Reserves for losses and loss adjustment expenses $629,771,816
Unearned premiums 220,583,909
Premium taxes and other expenses 34
379
814
Drafts outstanding ,
,
10,492,720
Other liabilities 31,284,718
Total liabilities 9260,512,977
POLICYHOLDERS' SURPLUS
Surplus notes 50,000,000
Unassigned surplus 377,155,440
Total policyholders' surplus 427,155,440
Total liabilities and policyholders' surplus $1,353,668,417
Commonwealth of Pennsylvania
County of Dauphin
We, Christine Sears, Treasurer, and Karen C. Yarrish, Secretary, respectively of PENNSYLVANIA NATIONAL MUTUAL
CASUALTY INSURANCE COMPANY, PENN NATIONAL SECURITY INSURANCE COMPANY AND FOUNDERS
INSURANCE COMPANY, do hereby certify that the foregoing is a true statemen f the financial condition of said companies
as of cem er 31 2008.
r 't
Treasurer S retary
lk-
S scribed and sworn to re me this
day of
COMMONW ALTH OF PENNSYLVANIA
otary Public Notarial Seal
Beverly A. Thompson, Notary Public
City Of Harrisburg, Dauphin County
My Commission Expires Apr. 16, 2010
Member. Pennsylvania Association of Notaries
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