Forward Mutual log books

FORWARD MUTUAL INSURANCE COMPANY

PROFORMA STATEMENT OF OPERATIONS
STATUTORY BASIS
Year Ended December 31, 2018

UNDERWRITING INCOME

Premiums written

$1,676,069

Net unearned premium change

6,818

Reinsurance ceded

(504,342)

Net premiums earned

1,178,545

LOSSES INCURRED

Losses incurred

223,393

Reinsurance incurred (recovered)

54,195

Net losses incurred

277,588

NET LOSS ADJUSTMENT EXPENSES

74,708

OTHER UNDERWRITING EXPENSES

567,605

Total losses and expenses incurred

919,901

NET UNDERWRITING INCOME (GAIN)

258,644

INVESTMENT AND OTHER INCOME

Investment income earned

235,190

Investment expenses

(54,921)

Net realized capital gain (loss)

(4,477)

Other income

19,456

Net investment and other income

195,248

Income before federal income taxes

453,892

FEDERAL INCOME TAX EXPENSE

69,100

NET INCOME

$384,792

 

PROFORMA STATEMENT OF POLICYHOLDERS
SURPLUS–STATUTORY BASIS

Year Ended December 31, 2017

BALANCE, BEGINNING OF YEAR

$6,983,086

Net income

384,792

Net unrealized gain (loss) on stocks, mutual funds and bonds

(132,647)

Net change in non-admitted assets

1,188

BALANCE, END OF YEAR

$7,236,419

 

Forward Mutual welcomes any questions regarding our financial stability.

 

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