Forward Mutual Insurance Company

Serving home and farm owners throughout Wisconsin


FORWARD MUTUAL INSURANCE COMPANY

STATEMENT OF OPERATIONS
STATUTORY BASIS
Year Ended December 31, 2024

UNDERWRITING INCOME

Premiums Written

$2,056,831

Net Unearned Premium Change

(78,208)

Reinsurance Ceded

(937,084)

Net Premiums Earned

1,041,539

LOSSES INCURRED

Losses Incurred

750,080

Reinsurance (Recovered) Incurred

(37,608)

Net Losses Incurred

712,472

NET LOSS ADJUSTMENT EXPENSES

84,554

OTHER UNDERWRITING EXPENSES

702,733

Total Losses and Expenses Incurred

1,499,759

NET UNDERWRITING INCOME (LOSS)

(458,022)

INVESTMENT AND OTHER INCOME

Investment Income Earned

260,921

Investment Expenses

(81,040)

Net Realized Capital Loss

107,024

Other Income

41,906

Net Investment and Other Income (Los)

328,811

INCOME (LOSS) BEFORE INCOME TAXES

(129,409)

FEDERAL INCOME TAX EXPENSE

(49,163)

NET INCOME (LOSS)

($80,246)

 

STATEMENT OF POLICYHOLDERS
SURPLUS–STATUTORY BASIS

Year Ended December 31, 2024

BALANCE, BEGINNING OF YEAR

$7,842,227

Net Income

(80,246)

Net Unrealized Loss on Stocks and Mutual Funds,
Net of Tax

136,261

Net Change in Deferred Income Taxes

34,000

Net Change in Nonadmitted Assets

1,289

BALANCE, END OF YEAR

$7,933,531



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