HomeMy WebLinkAbout04-2706COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, PA April 1, 2004
Whereas, the PENNSYLVANIA NATIONAL MUTUAL CASUALTY INSURANCE COMPANY,
located at Harrisburg, PA, has filed in this Department a certified copy of its charter and a detailed statement of
its Assets mad Liabilities, and otherwise complied with the requirements of Section 661 of the Act of Assembly
of the Commonwealth of Pmmsylvania, 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 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 ordinmaces, 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
PENNSYLVANIA NATIONAL MUTUAL
CASUALTY INSURANCE COMPANY,
PENN NATIONAL SECURITY INSURANCE COMPANY
AND FOUNDERS INSURANCE COMPANY
2003
ANNUAL
REPORT
CONSOLIDATED STATUTORY BALANCE SHEET
DECEMBER 31, 2003
ADMfI-I ~ED ASSETS
Bonds ................................................................................................................................................................... $ 711A33,2M
Stocks ................................................................................................................................................................... 69,809,638
Real Estate ............................................................................................................................................................ 2,453,784
Loans to af/']liate~ ................................................................................................................................................... 33,212,932
Other assets ............................................................................................................................................................ 717,25
Cash and cash equivalents ............................................................................................................................................ 40.578.551
Total cash and investments ....................................................................................................................................... 858,205,387
Agents' balances and uncollected premiums ...................................................................................................................... 146,424,176
Investment Income due and accrued .................................................................................................................................. 10,036,075
Amounts due from reinsurers .......................................................................................................................................... 14,301,587
Deferred income taxes ................................................................................................................................................... 23,889,833
Other assets .................................................................................................................................................................. 13.300.984
Total admitted assets ...................................................................................................................................................
LIABILITIES
Reserves for losses and loss adjustment expenses ................................................................................................................. $ 497,374,792
Ungamed premiums ......................................................................................................................................................... 219,474,728
Premium taxes and other expenses ..................................................................................................................................... 23,197,158
Drafts outstanding ........................................................................................................................................................... 13,295,387
Other liabilities ............................................................................................................................................................... 26.690.800
Total liabilities ............................................................................................................................................................ 780.032.865
POLICYHOLDERS' SURPLUS
MInority interest ............................................................................................................................................................... ' 32,000,000
Unassigned stt~plus ............................................................................................................................................................ 2_v4.125A 77
Total policyholders' surplus ............................................................................................................................................ 286.125.177
Total liabilities anti policyholdew' surplus ........................................................................................................................ ~
Commonwealth of Pennsylvania
Con~ty of Dauphin
We, Christine Sears, Treasurer, and Ke~meth R .Shutts, Secretary, respectively of PENNSYLVANIA NATIONAL MUTUAL CASUALTY
INSURANCE COMPANY, pENN NATIONAL SECURITY INSURANCE COMPAHY AND FOUNDERS I~URANCE COMPANY, do hereby
c enify~.that the foregoing is a true statement of the financial condition of said Companies as of Decembe~ 31, 2~103. ~.' ,,,,,,, .....
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"' .......*' ~ My Commission E~oires D~c. 19, 2005 "
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