Forward Mutual log books

FORWARD MUTUAL INSURANCE COMPANY

PROFORMA STATEMENT OF OPERATIONS
STATUTORY BASIS
Year Ended December 31, 2022

UNDERWRITING INCOME

Premiums Written

$1,581,790

Net Unearned Premium Change

(19,481)

Reinsurance Ceded

(464,990)

Net Premiums Earned

1,097,319

LOSSES INCURRED

Losses Incurred

611,645

Reinsurance Incurred (Recovered)

36,109

Net Losses Incurred

647,754

NET LOSS ADJUSTMENT EXPENSES

81,985

OTHER UNDERWRITING EXPENSES

617,273

Total Losses and Expenses Incurred

1,347,012

NET UNDERWRITING LOSS

(249,693)

INVESTMENT AND OTHER INCOME

Investment Income Earned

210,435

Investment Expenses

(80,305)

Net Realized Capital Gain

132,071

Other Income

29,846

Net Investment and Other Income

292,047

INCOME BEFORE INCOME TAXES

42,354

FEDERAL INCOME TAX EXPENSE

NET INCOME

$42,354

 

PROFORMA STATEMENT OF POLICYHOLDERS
SURPLUS–STATUTORY BASIS

Year Ended December 31, 2022

BALANCE, BEGINNING OF YEAR

$8,113,566

Net Income

42,354

Net Unrealized Gain (Loss) on Stocks and Mutual Funds,
Net of Tax of $(117,002) in 2022 and $28,002 in 2021

(632,807)

Net Change in Deferred Income Taxes

17,000

Net Change in Nonadmitted Assets

1,863

BALANCE, END OF YEAR

$7,541,976

 

Forward Mutual welcomes any questions regarding our financial stability.

 

Contact us today for security and attention to your ownership needs.