HomeMy WebLinkAbout02-2127COMMONWEALTH OF PENNSYLVANIA
INSURANCE DEPARTMENT
Harrisburg, PA April 1,2002
Whereas, the UNIVERSAL SURETY OF AMERICA, located at Houston, TX, 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 A~ct 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, M. Diane Koken~ Insurance Commissioner of the Commonwealth of Pennsylvania, do
hereby certify, in accordance with Section I, of the Act of Assembly approved June 29, 1923 and known as act
No. 373 of the Laws of 1923, that the Universal Surety of America, of Houston, TX, 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
UNIVERSAL SURETY OF AMERICA
Houston, Texas
Statement of Condition and Affairs
December 31, 2001
ASSETS
Bonds
Cash & short-teim investments
Agems balances or uncollected premiums
Reinsurance recoverable on loss payments
Federal income tax recoverable
Net deferred tax asset
Interest, dividends and real estate income
due and accrued
Total Assets
27,639,389
2,815,250
420,600
19,707
1,292,826
186,437
501,322
$ 32,875,531
LIABILITIES AND SURPLUS
Losses
Reinsurance payable on paid loss and loss
adjustment expenses
Loss adjusi~uent expense
Contingent and other commissions payable
Other expense
Taxes, licenses and fees
Unearned premiums
Other liabilities
Total Liabilities
Surplus Account: capital paid up
Gross paid in & contributed surplus
Unassigned funds
Surplus as regards policyholders
Total Liabilities and Capital
$ 4,200,000
1,000,000
10,244,688
$ 4,116,734
409,190
2,547,831
165,000
53,795
77,124
6,696,106
3,365,063
17,430,843
$ 15,444,688
$ 32,875,531
I, Melissa Cooper, Treasurer of Universal Surety of America hereby certify that the above is
an exact copy of the financial statement of the Company dated December 31, 2001, as filed
with the various Insurance Deparunents and is a true and correct statement of the condition of
the Universal Surety of America .as of that date.
Universal Surety of America
Treasurer
Subscribed and sworn to me this
My commission expires:
KATHRYN J. SCHROEDER
My Commission Expires 7-21-2003
day of ~--~br~a.,'~, 2002.
Notary Pubflc