William Penn Life, 2002 (37. évfolyam, 1-11. szám)
2002-04-01 / 4. szám
In our opinion, the amounts 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 8th day of February 2002 Virginia S. Kiddle, Notary Public. Robert E. Bruce is president of Bruce & Bruce Company. ID WILLIAM PENN ASSOCIATION 2001 ANNUAL STATEMENT FINANCIAL REPORT ASSETS Bonds $122,128,322 Stocks 8,132,355 Mortgage Loans 314,230 Real Estate 1,357,916 Certificate Loans 1,494,065 Electronic Data Processing Equipment & Software 57,980 Cash and Short-Term Investments 1,377,342 Premiums Due and Uncollected Life 11,568 Accident & Health 157 Accrued Investment Income 2,286,311 Total Admitted Assets $137,160,246 LIABILITIES, SPECIAL RESERVES | & SURPLUS CERTIFICATE RESERVES J Life, Annuity, 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 Unassigned Surplus Total $101,266,844 160,972 5,834,916 400,000 361,838 1,309,788 1,891,169 34,115 872,956 304,215 794,622 $113,231,435 23,928,811 $137,160,246 INCOME Premiums 8i Annuity Considerations $ 7,444,860 Net Investment Income 9,264,714 Amortization of Interest Maintenance Reserve 147,997 Miscellaneous Income 18,930 Total Income $16,876,501 OUTGO Life Benefits Paid, Including Dividends Annuity and Pension Benefits Paid Increase in Aggregate Reserve for Life, Annuity, Accident & Health Certificates, Supplementary Contracts Without Life Contingencies and Refund Accumulation Commissions on Premiums & Annuity Considerations General Operating and Fraternal Expenses Insurance Department Licenses, Taxes & Fees Total Outgo & Reserve Increase Net Gain from Operations after Refunds to Members RECONCILIATION Net Gain from Operations $ 730,511 Realized Losses (excluding transfers to the IMR) (137,317) Net Income $ 593,194 Unassigned Funds as of 12(31/00 23,830,716 Change in Unrealized Losses (377,243) Change in Not Admitted Assets 59,214 Change in Asset Valuation Reserve (11,914) Changes in Accounting Principles (178,173) Change in Special Reserves 13,017 Unassigned Funds as of 12/31/01 $23,928,811 $6,293,385 2,978,162 3,193.529 262.186 3,328,051 90,677 $16,145,990 $730,511 Mrain Penn life, April 2002 9
