William Penn Life, 2000 (35. évfolyam, 1-12. szám)
2000-04-01 / 4. szám
In our opinion, the amount carried in the balance sheets on account of the various actuarial items: (1) are computed in accordance with commonly accepted actuarial standards consistently applied and are fairly stated in accordance with sound actuarial principles; (2) are based on actuarial assumptions which produce reserves at least as great as those called for in any contract provision as to reserve basis and method, and are in accordance with all other contract provisions; (3) meet the requirements of the insurance laws and regulations of the Commonwealth of Pennsylvania and are at least as great as the minimum aggregate amounts required by the state in which this statement is filed; (4) are computed on the basis of assumptions consistent with those used in computing the corresponding items in the annual statement of the preceding year end with any exceptions as noted below; and (5) include provision for all actuarial reserves and related statement items which ought to be established. It is apparent that the officers and directors continue the skillful management of the members' money while maintaining very strong safeguards. Subscribed and sworn to before me this 3rd day of February 2000 Virginia S. Kiddle, Notary Public. Robert E. Bruce is president of Bruce & Bruce Actuaries. EH1 WILLIAM PENN ASSOCIATION 1999 ANNUAL STATEMENT FINANCIAL REPORT ASSETS Bonds *117,163,785 Stocks 7,872,900 Mortgage Loans 391,242 Real Estate 1,406,331 Certificate Loans 1,453,864 Electronic Data Processing Equipment 88,429 Cash and Short-Term Investments Premiums Due and Uncollected 1,325.888 Life 15,057 Accident & Health 157 Accrued Investment Income 2,146,436 Total Admitted Assets *131,864,089 LIABILITIES, SPECIAL RESERVES & SURPLUS CERTIFICATE RESERVES Ufa, Accident & Health and Supplementary Contracts Without Life Contingencies, Policy Reserves Life and Accident & Health Claim Reserves Refund (Dividend) Accumulations Provision for Refunds Payable in Following Calendar Year Premiums Paid in Advance Officials' (Directors') Retirement Program Interest Maintenance Reserve Commissions, Taxes, General Expenses Due or Accrued Asset Valuation Reserve Trust Account Other Liabilities Total Liabilities Unassignad Surplus Total »97,917,025 175,984 5,354,102 400,000 361,074 908,686 2,024,275 83,848 777,056 307,765 457,588 *108,787,403 23,098,886 *131,864,089 INCOME : Premiums & Annuity Considerations *5,512,163 Considerations for Supplementary Contracts Without Life Contingencies and Refund Accumulations 353,981 Net Investment Income 9,076,542 Amortization of Interest Maintenance Reserve 136,484 Miscellaneous Income 8.427 Total Income *15,085,617 OUTGO Life Benefits Paid, Including Dividends *6,052,883 Annuity and Pension Benefits Paid 3.171,171 Increase in Aggregate Reserve for Life, Accident & Health Certificates, Supplementary Contracts Without Life Contingencies and Refund Accumulation 1,375,439 Commissions on Premiums & Annuity Considerations 208,568 General Operating and Fraternal Expenses 2,975,597 Insurance Department Licenses, Taxes & Fees 127,077 Total Outgo & Reserve Increase »13.910,735 Net Gain from Operations after Refunds to Members*1,174,881 RECONCILIATION jtz":......................................................................................... Net Gain from Operations $1,174,881 Realized Gains (excluding transfers to the IMR) 357,490 Net Income *1,532,371 Unassigned Funds as of 12/31198 20,881,437 Unrealized Gains 96,074 Net Admitted Gains 87 Asset Valuation Reserve 586,141 Special Reserves 576 Unassigned Funds as of 12/31/99 *23,096,686 Willi» Pem Lite, April 2000 I
