"FD Insurance Company","PNC AS","2024 12 31" Annual Statutory Statement

Current Year

Prior Year

1

2

3

4

Net Admitted Assets

Net Admitted

Assets

Nonadmitted Assets

(Cols. 1 - 2)

Assets

1. Bonds (Schedule D)

11,073,927

11,073,927

11,267,868

$

0

encumbrances)

4.2 Properties held for the production of income

(less $

0

encumbrances)

4.3 Properties held for sale (less

$

0

encumbrances)

5.

Cash ($

772,504

, Schedule E-Part 1), cash equivalents

($

1,712,225

, Schedule E-Part 2) and short-term

investments ($

0 , Schedule DA)

2,484,729

2,484,729

1,773,232

6.

Contract loans (including $

0 premium notes)

7.

Derivatives (Schedule DB)

8.

Other invested assets (Schedule BA)

69,777

69,777

88,937

12.

Subtotals, cash and invested assets (Lines 1 to 11)

13,628,433

13,628,433

13,130,037

13.

Title plants less $

0 charged off (for Title insurers

only)

14.

Investment income due and accrued

8,847

8,847

7,756

deferred and not yet due (including

$

0

earned

but unbilled premiums)

15.3 Accrued retrospective premiums ($

0

) and

contracts subject to redetermination

($

0

)

16. Reinsurance:

16.1 Amounts recoverable from reinsurers

6,119

6,119

65,033

18.1

Current federal and foreign income tax recoverable and interest thereon

1,263

1,263

18.2

Net deferred tax asset

52,592

200

52,392

105,451

($

0 )

23.

Receivables from parent, subsidiaries and affiliates

1,731

1,731

24.

Health care ($

0 ) and other amounts receivable

Protected Cell Accounts (Lines 12 to 25)

13,698,985

200

13,698,785

13,308,277

27.

From Separate Accounts, Segregated Accounts and Protected

Cell Accounts

28.

Total (Lines 26 and 27)

13,698,985

200

13,698,785

13,308,277

1

2

Current Year

Prior Year

1.

Losses (Part 2A, Line 35, Column 8)

2.

Reinsurance payable on paid losses and loss adjustment expenses (Schedule F, Part 1, Column 6)

3.

Loss adjustment expenses (Part 2A, Line 35, Column 9)

39,531

209,531

4.

Commissions payable, contingent commissions and other similar charges

5.

Other expenses (excluding taxes, licenses and fees)

148

6.

Taxes, licenses and fees (excluding federal and foreign income taxes)

7.1

Current federal and foreign income taxes (including $

0 on realized capital gains (losses))

7.2

Net deferred tax liability

8.

Borrowed money $

0

and interest thereon $

0

9.

Unearned premiums (Part 1A, Line 38, Column 5) (after deducting unearned premiums for ceded reinsurance of

$

0 and including warranty reserves of $

0 and accrued accident and

health experience rating refunds including $

0

for medical loss ratio rebate per the Public Health

Service Act)

12. Ceded reinsurance premiums payable (net of ceding commissions)

168,914

141,041

16. Provision for reinsurance (including $

0 certified) (Schedule F, Part 3, Column 78)

19. Payable to parent, subsidiaries and affiliates

934

9,761

24.

Capital notes $

0 and interest thereon $

0

25.

Aggregate write-ins for liabilities

26.

Total liabilities excluding protected cell liabilities (Lines 1 through 25)

209,527

360,333

27.

Protected cell liabilities

28.

Total liabilities (Lines 26 and 27)

209,527

360,333

29.

Aggregate write-ins for special surplus funds

30.

Common capital stock

500,000

10,000,000

34.

Gross paid in and contributed surplus

10,133,014

633,014

35.

Unassigned funds (surplus)

2,856,244

2,314,929

36.

Less treasury stock, at cost:

36.1

0

shares common (value included in Line 30

$

0

)

36.2

0

shares preferred (value included in Line 31

$

0

)

37.

Surplus as regards policyholders (Lines 29 to 35, less 36) (Page 4, Line 39)

13,489,258

12,947,943

38.

Totals (Page 2, Line 28, Col. 3)

13,698,785

13,308,276

1

2

Current Year

Prior Year

3.

Loss adjustment expenses incurred (Part 3, Line 25, Column 1)

(165,100)

(138,998)

4.

Other underwriting expenses incurred (Part 3, Line 25, Column 2)

165,100

138,998

INVESTMENT INCOME

9.

Net investment income earned (Exhibit of Net Investment Income, Line 17)

606,741

500,210

10.

Net realized capital gains (losses) less capital gains tax of $

0

(Exhibit of Capital Gains (Losses))

11.

Net investment gain (loss) (Lines 9 + 10)

606,741

500,210

OTHER INCOME

12.

Net gain (loss) from agents' or premium balances charged off (amount recovered $

0 amount

charged off $

0 )

(Lines 8 + 11 + 15)

606,741

500,210

(Line 16 minus Line 17)

606,741

500,210

19.

Federal and foreign income taxes incurred

(4,513)

32,601

20.

Net income (Line 18 minus Line 19) (to Line 22)

611,254

467,609

CAPITAL AND SURPLUS ACCOUNT

21.

Surplus as regards policyholders, December 31 prior year (Page 4, Line 39, Column 2)

12,947,943

12,287,633

22.

Net income (from Line 20)

611,254

467,609

23.

Net transfers (to) from Protected Cell accounts

24.

Change in net unrealized capital gains or (losses) less capital gains tax of $

(3,545)

(13,335)

160,796

25.

Change in net unrealized foreign exchange capital gain (loss)

26.

Change in net deferred income tax

(131,866)

(33,952)

27.

Change in nonadmitted assets (Exhibit of Nonadmitted Assets, Line 28, Col. 3)

75,262

65,857

32.3 Transferred to surplus

(9,500,000)

33. Surplus adjustments:

33.1 Paid in

9,500,000

38.

Change in surplus as regards policyholders for the year (Lines 22 through 37)

541,315

660,310

39.

Surplus as regards policyholders, December 31 current year (Line 21 plus Line 38) (Page 3, Line 37)

13,489,258

12,947,943

1

2

Current Year

Prior Year

1.

Cash from Operations

Premiums collected net of reinsurance

27,873

38,743

2.

Net investment income

601,371

495,503

3.

Miscellaneous income

4.

Total (Lines 1 through 3)

629,244

534,246

5.

Benefit and loss related payments

(50,088)

50,026

6.

Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts

7.

Commissions, expenses paid and aggregate write-ins for deductions

171,584

150,001

8.

Dividends paid to policyholders

9.

Federal and foreign income taxes paid (recovered) net of $

3,545 tax on capital gains (losses)

(3,250)

(13,495)

10.

Total (Lines 5 through 9)

118,246

186,532

11.

Net cash from operations (Line 4 minus Line 10)

510,998

347,714

12.

Cash from Investments

Proceeds from investments sold, matured or repaid:

12.1

Bonds

200,000

12.2

Stocks

12.3

Mortgage loans

12.4

Real estate

12.5

Other invested assets

10,500

12.6

Net gains or (losses) on cash, cash equivalents and short-term investments

12.7

Miscellaneous proceeds

13.

12.8

Total investment proceeds (Lines 12.1 to 12.7)

210,500

Cost of investments acquired (long-term only):

13.1

Bonds

593,977

13.2

Stocks

13.3

Mortgage loans

13.4

Real estate

13.5

Other invested assets

10,000

13.6

Miscellaneous applications

14.

13.7

Total investments acquired (Lines 13.1 to 13.6)

10,000

593,977

Net increase/(decrease) in contract loans and premium notes

15.

Net cash from investments (Line 12.8 minus Line 13.7 minus Line 14)

200,500

(593,977)

16.

Cash from Financing and Miscellaneous Sources

Cash provided (applied):

16.1

Surplus notes, capital notes

16.2

Capital and paid in surplus, less treasury stock

16.3

Borrowed funds

16.4

Net deposits on deposit-type contracts and other insurance liabilities

16.5

Dividends to stockholders

17.

16.6

Other cash provided (applied)

Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)

18.

RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)

711,498

(246,263)

19.

Cash, cash equivalents and short-term investments:

19.1

Beginning of year

1,773,231

2,019,494

19.2

End of year (Line 18 plus Line 19.1)

2,484,729

1,773,231

Losses Paid Less Salvage

5

6

7

8

1

2

3

4

Net Losses

Percentage of Losses Incurred

Unpaid

Net Losses

Losses Incurred

(Col. 7, Part 2)

Reinsurance

Reinsurance

Net Payments

Current Year

Unpaid

Current Year

to Premiums Earned

Line of Business

Direct Business

Assumed

Recovered

(Cols. 1 + 2 - 3)

(Part 2A, Col. 8)

Prior Year

(Cols. 4 + 5 - 6)

(Col. 4, Part 1)

11.2

Medical professional liability-claims-made

99,000

99,000

31.

Reinsurance-nonproportional assumed property

XXX

32.

Reinsurance-nonproportional assumed liability

XXX

33.

Reinsurance-nonproportional assumed financial lines

XXX

35.

TOTALS

99,000

99,000

Reported Losses

Incurred But Not Reported

8

9

1

2

3

4

5

6

7

Net Losses Excl. Incurred

Net Losses

Net Unpaid Loss

Line of Business

Reinsurance

Deduct Reinsurance

But Not Reported

Reinsurance

Reinsurance

Unpaid

Adjustment

Direct

Assumed

Recoverable

(Cols. 1+2-3)

Direct

Assumed

Ceded

(Cols. 4+5+6-7)

Expenses

11.2

Medical professional liability-claims-made

15,000

15,000

39,531

13.1

Comprehensive (hospital and medical) individual

(a)

13.2

Comprehensive (hospital and medical) group

(a)

15.1

Vision only

(a)

15.2

Dental only

(a)

15.3

Disability income

(a)

15.4

Medicare supplement

(a)

15.5

Medicaid Title XIX

(a)

15.6

Medicare Title XVIII

(a)

15.7

Long-term care

(a)

15.8

Federal employees health benefits plan

(a)

15.9

Other health

(a)

31.

Reinsurance-nonproportional assumed property

XXX

XXX

32.

Reinsurance-nonproportional assumed liability

XXX

XXX

33.

Reinsurance-nonproportional assumed financial lines

XXX

XXX

35.

TOTALS

15,000

15,000

39,531

DETAILS OF WRITE-INS

3401.

3402.

3403.

3498.

Sum. of remaining write-ins for Line 34 from overflow page

3499.

Totals (Lines 3401 through 3403 + 3498) (Line 34 above)

(a) Including $

for present value of life indemnity claims reported in lines 13 and 15.

1

2

3

4

Loss Adjustment

Other Underwriting

Investment

Expenses

Expenses

Expenses

Total

1. Claim adjustment services:

1.1

Direct

(309,000)

(309,000)

1.2

Reinsurance assumed

1.3

Reinsurance ceded

(139,000)

(139,000)

1.4

Net claim adjustment services (1.1 + 1.2 - 1.3)

(170,000)

(170,000)

2.3 Reinsurance ceded, excluding contingent

(152,321)

(152,321)

2.8 Net commission and brokerage (2.1 + 2.2 - 2.3 + 2.4 + 2.5 - 2.6 + 2.7)

152,321

152,321

8.1 Salaries

3,315

3,315

8.2 Payroll taxes

242

242

9.

Employee relations and welfare

454

454

10.

Insurance

11.

Directors' fees

12.

Travel and travel items

64

64

13.

Rent and rent items

169

169

14.

Equipment

336

4,149

4,485

15.

Cost or depreciation of EDP equipment and software

15

15

16.

Printing and stationery

5

26

31

17.

Postage, telephone and telegraph, exchange and express

46

514

560

18.

Legal and auditing

253

475

3,513

4,241

19.

Totals (Lines 3 to 18)

4,899

5,164

3,513

13,576

credits of $

0

3,902

3,902

20.2 Insurance department licenses and fees

3,713

3,713

20.5 Total taxes, licenses and fees (20.1 + 20.2 + 20.3 + 20.4)

7,615

7,615

24.

Aggregate write-ins for miscellaneous expenses

1

1

25.

Total expenses incurred

(165,100)

165,100

3,513 (a)

3,513

26.

Less unpaid expenses-current year

39,531

148

39,679

27.

Add unpaid expenses-prior year

209,531

209,531

30.

TOTAL EXPENSES PAID (Lines 25 - 26 + 27 - 28 + 29)

4,900

164,952

3,513

173,365

DETAILS OF WRITE-INS

2401.

Miscellaneous Expense

1

1

2402.

2403.

2498.

Summary of remaining write-ins for Line 24 from overflow page

2499.

Totals (Lines 2401 through 2403 plus 2498) (Line 24 above)

1

1

(a) Includes management fees of $

to affiliates and $

to non-affiliates.

1

2

Collected

Earned

During Year

During Year

1.

U.S. Government bonds

(a)

30,604

29,831

1.1

Bonds exempt from U.S. tax

(a)

1.2

Other bonds (unaffiliated)

(a)

493,053

493,053

1.3

Bonds of affiliates

(a)

2.1

Preferred stocks (unaffiliated)

(b)

2.11

Preferred stocks of affiliates

(b)

2.2

Common stocks (unaffiliated)

2.21

Common stocks of affiliates

3.

Mortgage loans

(c)

4.

Real estate

(d)

5.

Contract loans

6.

Cash, cash equivalents and short-term investments

(e)

84,988

86,852

7.

Derivative instruments

(f)

8.

Other invested assets

120

120

9.

Aggregate write-ins for investment income

398

398

10.

Total gross investment income

609,163

610,254

11.

Investment expenses

(g)

3,513

12.

Investment taxes, licenses and fees, excluding federal income taxes

(g)

13.

Interest expense

(h)

14.

Depreciation on real estate and other invested assets

(i)

15.

Aggregate write-ins for deductions from investment income

16.

Total deductions (Lines 11 through 15)

3,513

17.

Net investment income (Line 10 minus Line 16)

606,741

DETAILS OF WRITE-INS

0901.

Miscellaneous investment income

398

398

0902.

0903.

0998. Summary of remaining write-ins for Line 9 from overflow page

0999.

Totals (Lines 0901 through 0903 plus 0998) (Line 9 above)

398

398

1501.

1502.

1503.

1598.

Summary of remaining write-ins for Line 15 from overflow page

1599.

Totals (Lines 1501 through 1503 plus 1598) (Line 15 above)

(a) Includes $

4,279 accrual of discount less $

amortization of premium and less $

paid for accrued interest on purchases.

(b) Includes $

accrual of discount less $

amortization of premium and less $

paid for accrued dividends on purchases.

(c) Includes $

accrual of discount less $

amortization of premium and less $

paid for accrued interest on purchases.

(d) Includes $

for company's occupancy of its own buildings; and excludes $

interest on encumbrances.

(e) Includes $

4,125 accrual of discount less $

amortization of premium and less $

paid for accrued interest on purchases.

(f) Includes $

accrual of discount less $

amortization of premium.

(g) Includes $

investment expenses and $

investment taxes, licenses and fees, excluding federal income taxes, attributable to

segregated and Separate Accounts.

(h) Includes $

interest on surplus notes and $

interest on capital notes.

(i) Includes $

depreciation on real estate and $

depreciation on other invested assets.

1

2

3

4

5

Realized

Change in

Gain (Loss)

Other

Total Realized Capital

Change in

Unrealized Foreign

On Sales or

Realized

Gain (Loss)

Unrealized Capital

Exchange Capital

Maturity

Adjustments

(Columns 1 + 2)

Gain (Loss)

Gain (Loss)

1.

U.S. Government bonds

1.1

Bonds exempt from U.S. tax

1.2

Other bonds (unaffiliated)

1,780

1.3

Bonds of affiliates

2.1

Preferred stocks (unaffiliated)

2.11

Preferred stocks of affiliates

2.2

Common stocks (unaffiliated)

2.21

Common stocks of affiliates

3.

Mortgage loans

4.

Real estate

5.

Contract loans

6.

Cash, cash equivalents and short-term investments

7.

Derivative instruments

8.

Other invested assets

(18,660)

9.

Aggregate write-ins for capital gains (losses)

10.

Total capital gains (losses)

(16,880)

DETAILS OF WRITE-INS

0901.

0902.

0903.

0998.

Summary of remaining write-ins for Line 9 from

overflow page

0999.

Totals (Lines 0901 through 0903 plus 0998) (Line 9

above)