Forward Mutual log books

FORWARD MUTUAL INSURANCE COMPANY

PROFORMA STATEMENT OF OPERATIONS
STATUTORY BASIS
Year Ended December 31, 2017

UNDERWRITING INCOME

Premiums written

$1,745,231

Net unearned premium change

43,180

Reinsurance ceded

(606,363)

Net premiums earned

1,182,048

LOSSES INCURRED

Losses incurred

560,154

Reinsurance recovered

(140,282)

Net losses incurred

419,872

NET LOSS ADJUSTMENT EXPENSES

74,137

OTHER UNDERWRITING EXPENSES

 579,385

Total losses and expenses incurred

1,073,394

NET UNDERWRITING INCOME (GAIN)

108.654

INVESTMENT AND OTHER INCOME

Investment income earned

199,913

Investment expenses

(55,385)

Net realized capital gain

62,671

Other income

20,993

Net investment and other income

228,192

Income before federal income taxes

336,846

FEDERAL INCOME TAX EXPENSE

69,200

NET INCOME

$267,646

 

PROFORMA STATEMENT OF POLICYHOLDERS
SURPLUS–STATUTORY BASIS

Year Ended December 31, 2017

BALANCE, BEGINNING OF YEAR

$6,422,859

Net income

267,646

Net Unrealized Gain on stocks,
mutual funds and bonds

296,367

Net change in non-admitted assets

(3,786)

BALANCE, END OF YEAR

$6,983,086

 

Forward Mutual welcomes any questions regarding our financial stability.

 

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