Forward Mutual log books

FORWARD MUTUAL INSURANCE COMPANY

PROFORMA STATEMENT OF OPERATIONS
STATUTORY BASIS
Year Ended December 31, 2016

UNDERWRITING INCOME

Premiums written

$1,778,186

Net unearned premium change

13,313

Reinsurance ceded

(605,742)

Net premiums earned

1,185,757

LOSSES INCURRED

Losses incurred

351,001

Reinsurance recovered

(20,732)

Net losses incurred

330,269

NET LOSS ADJUSTMENT EXPENSES

75,680

OTHER UNDERWRITING EXPENSES

598,719

Total losses and expenses incurred

1,004,668

NET UNDERWRITING INCOME (LOSS)

181,089

INVESTMENT AND OTHER INCOME

Investment income earned

191,347

Investment expenses

(53,092)

Net realized capital gain

96

Other income

19,975

Net investment and other income

158,326

Income (loss) before federal income taxes

339,415

FEDERAL INCOME TAX EXPENSE

68,600

NET INCOME (LOSS)

$270,815

 

PROFORMA STATEMENT OF POLICYHOLDERS
SURPLUS–STATUTORY BASIS

Year Ended December 31, 2015

BALANCE, BEGINNING OF YEAR

$5,880,445

Net income (loss)

270,815

Unrealized (loss) on stocks,
mutual funds and bonds

269,904

Net change in non-admitted assets

1,695

BALANCE, END OF YEAR

$6,422,859

 

Forward Mutual welcomes any questions regarding our financial stability.

 

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