HomeMy WebLinkAbout12-3135PPNGE D PqN -
`J'[XOMMONWEALTH OF PENNSYLVANIA
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IT„oE tENt, INSURANCE DEPARTMENT
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LVA N1 Harrisburg, PA April 1, 2012
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 17"' 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, Michael Consedine, 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 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
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WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Net Admitted Assets and Liabilities
December 31, 2011
ASSETS
Bonds $1,403,423,957
Stocks 22,726,363
Cash and short-term investments 66,852,340
Uncollected premiums and agents' balances 34,207,619
Funds held by or deposited with reinsured companies 13,980,081
Net deferred tax asset 25,802,839
Investment income due and accrued 17,647,175
Other assets 2,489,406
Total Assets $1,587,129,780
LIABILITIES AND SURPLUS
Losses $296,352,421
Loss adjustment expense 82,551,462
Contingent and other commissions payable 5,246,025
Other expense 28,831,919
Taxes, licenses and fees 1,925,642
Federal and foreign income taxes payable 5,637,067
Unearned premiums 247,814,064
Other liabilities 29,2860547
Total Liabilities 697,645,147
1 Amy tM. Smith, Assistant Vice President of Western Surety Company hereby certify that the above is
an accurate representation of the financial statement of the Company dated December 31, 2011, 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.
Surplus Account:
Capital paid up $4,000,000
Gross paid in and contributed surplus 176,435,232
Special Surplus 7,321,616
Unassigned funds 701,727,785 $889,484,633
Surplus as regards policyholders $1,587,129,780
Total Liabilities and Capital
Western Surety Company
By
AssistaZ J ice President
Subscribed and sworn to me this 12th day of
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My commission expir$s: "OFt-ICIAL SEAL"
KATHLEEN M, SCHROEDER +
Notary Public, State of Illinois
My Commission Expires 08116115 ;
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March , 2012.
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