HomeMy WebLinkAbout05-2141
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COMMONWEALTH OF PENNSYLVANIA
INSIJRANCE DEPARTMENT
Harrisburg, PA Aprill 2 05
\Vhereas, the WESTERN SURETY COMPANY, located at Sioux Falls. SD, has filed in this r epartment
a certified copy of its charter and a detailed statement of its Assets and Liabilities. and otherwise con plied with
the requirements of Section 661 of the Act of Assembly of the Commonwealth of Pennsylvania, enti led "An
1.. d" . " ,..., i &" J' __th 1
act l"(" at\ng to Insurance~ amen lng. re\'i'S\ng anl1 conSO\!datll:g tfiC.Zi.\V c., approve.' tne \, (uy
fMay,
A.D, J 921, as well as with the requirements of the Jaws of this Commonwealth applicable to such co lpany III
doing business herein.
Now Therefore, I. M. Diane Koken, Insurance Commissioner of the Commonwealth of Pennsv vania. do
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hereby certify, in aceordancc with Scction I, of the Act of Assembly approved June 29,1923 and kn wn as act
No. 373 of the Laws of 1923, that the Western Surety Company, of Sioux Falls, SD, is duly author zed to
becomc and be accepted as sole surety on all bonds, undertakings and obligations required or permitt d by law
or the ordinances, rules or regulations of any municipality, board, body, organization, or public offic r.
In Witness Whereof. I have hereunto set my hand a d
affixed my official seal, the day and year first above 'fitten.
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Insurance Commissioner
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WESTERN SURETY COMPANY
Sioux Falls, South Dakota
Statement of Condition and Affairs
December 31, 2004
ASSETS
Bonds
Stocks
Cash and short-tenn investments
Other invested assets
Uncollected premiums and agents' balances
Amounts recoverable from reinsurers
Other amounts recoverable under reinsurance contracts
Federal income tax recoverable
Net deferred tax asset
Electronic data processing equipment and software
Investment income due and accrued
Other assets
Total Assets
$ 66 ,767,478
2 ,277,414
2 ,866,407
95,106
3 ,225,090
I ,986,519
,000,000
o
I ,665,131
,607,904
,368,184
886 808
$78 746041
LIABILITIES AND SURPLUS
Losses
Reinsurance payable on paid loss and loss
adjustment expenses
Loss adjustment expense
Contingent and other commissions payable
Other expense
Taxes, licenses and fees
Unearned premiums
Retroactive reinsurance reserve assumed
Other liabilities
Total Liabilities
$ 19 ,878,218
3 ,736,910
,390,553
I ,376,667
,014,229
21 ,943,576
I ,492,390
53 ,332,084
Surplus Account:
Capital paid up
Gross paid in and contributed surplus
Unassigned funds
Surplus as regards policyholders
Total Liabilities and Capital
$4,000,000
176,435,232
71.978.725
$ 25 413 957
$ 78 746041
I, Philip E. Lundy, Vice President and Treasurer of Western Surety Company hereby certify tha the
above is an exact copy of the financial statement of the Company dated December 31, 2004, as led with
the various Insurance Departments and is a true and correct statement of the condition of West Surety
Company as of that date.
Subscribed and sworn to me this
Mv commission expires:
KATHRYNJ.SCHROEDER
My Commission Expires 7-21-2009
25th
day of
Western Surety Company
KATHRYN J. SCHROEDER
~ IlpTAIlY PU8IJC~
IClUnl DAKOTA
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