Forward Mutual log books

FORWARD MUTUAL INSURANCE COMPANY

PROFORMA STATEMENT OF OPERATIONS
STATUTORY BASIS
Year Ended December 31, 2021

UNDERWRITING INCOME

Premiums Written

$1,559,135

Net Unearned Premium Change

11,618

Reinsurance Ceded

(465,037)

Net Premiums Earned

1,105,716

LOSSES INCURRED

Losses Incurred

916,512

Reinsurance Recovered

(209,350)

Net Losses Incurred

707,162

NET LOSS ADJUSTMENT EXPENSES

74,282

OTHER UNDERWRITING EXPENSES

554,615

Total Losses and Expenses Incurred

1,336,059

NET UNDERWRITING LOSS

(230,343)

INVESTMENT AND OTHER INCOME

Investment Income Earned

265,377

Investment Expenses

(75,324)

Net Realized Capital Gain

127,896

Other Income

24,663

Net Investment and Other Income

342,612

INCOME BEFORE INCOME TAXES

112,269

FEDERAL INCOME TAX EXPENSE

(37,500)

NET INCOME

$149,769

 

PROFORMA STATEMENT OF POLICYHOLDERS
SURPLUS–STATUTORY BASIS

Year Ended December 31, 2021

BALANCE, BEGINNING OF YEAR

$7,902,194

Net Income

149,769

Net Unrealized Gain on Stocks and Mutual Funds (Net of Tax)

61,920

Net Change in Deferred Income Taxes

(1,000)

Net Change in Nonadmitted Assets

683

BALANCE, END OF YEAR

$8,113,566

 

Forward Mutual welcomes any questions regarding our financial stability.

 

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