Merastar Insurance Company

Quarterly Statement as of June 30, 2023 of the Merastar Insurance Company

ASSETS

				Current Statement Date	4
			1	2	3
					Net Admitted	December 31
				Nonadmitted	Assets	Prior Year Net
			Assets	Assets	(Cols. 1 - 2)	Admitted Assets
1.	............................................................................................................................................Bonds	85,000,105	85,000,105	86,343,972
2.	Stocks:
	2.1	Preferred.................................................................................................................................stocks	............................... ...............................	...............................	................................
	2.2	Common stocks	............................... ...............................	...............................	................................
3.	Mortgage loans on real estate:
	3.1	First.................................................................................................................................liens	............................... ...............................	...............................	................................
	3.2	Other than rst liens	............................... ...............................	...............................	................................

4. Real estate:


4.1	Properties occupied by the company (less $	encumbrances)
4.2	Properties held for the production of income (less $	encumbrances)
4.3	Properties held for sale (less $	encumbrances)	........................... ............................... ............................... ............................... ................................

5. Cash ($ 740,980), cash equivalents ($ 4,143,818) and short-term investments

	(............................................................................................................................................$ )		4,884,798	4,884,798	10,642,818
6.	Contract loans (including $	premium notes)	............................... ...............................	...............................	................................
7.	Derivatives		............................... ...............................	...............................	................................
8.	Other invested assets		.........................................................................................	............................... ...............................	...............................	................................
9.	Receivables for securities	.........................................................................................	............................... ...............................	...............................	................................250,000
10.	Securities lending reinvested collateral assets	............................... ...............................	...............................	................................
11.	Aggregatewrite-insfor invested.........................................................................................assets	............................... ...............................	...............................	................................
12.	......................................Subtotals, cash and invested assets (Lines 1 to 11)	89,884,903	89,884,903	97,236,790
13.	Title plants less $	charged off (for Title insurers only)	............................... ...............................	...............................	................................
14.	Investment income due and accrued	...............................479,687	...............................479,687	................................403,391

15. Premiums and considerations:

	15.1 Uncollected premiums and agents' balances in the course of collection	...............................900,202	...............................61	...............................900,141	................................782,549
	15.2 Deferred premiums, agents' balances and installments booked but
	deferred and not yet due (including $	earned but unbilled premiums)	...............................117,794	...............................	...............................117,794	................................115,727
	15.3 Accrued retrospective premiums ($	) and contracts subject to
	redetermination ($ )	...............................	...............................	...............................	................................
16.	Reinsurance:
	16.1 Amounts recoverable from reinsurers	...............................	...............................	...............................	................................
	16.2 Funds held by or deposited with reinsured companies	...............................	...............................	...............................	................................
	16.3 Other amounts receivable under reinsurance contracts	...............................	...............................	...............................	................................
17.	Amounts receivable relating to uninsured plans	...............................	...............................	...............................	................................
18.1	Current federal and foreign income tax recoverable and interest thereon	...............................	...............................	...............................	................................
18.2	Net deferred tax asset	10,452,766	9,312,100	1,140,666	1,252,401
19.	Guaranty funds receivable or.........................................................................................on deposit	...............................796	...............................	...............................796	................................796
20.	Electronic data processing equipment and software	12,288,968	11,710,106	...............................578,862	................................448,146
21.	Furniture and equipment, including health care delivery assets......................................($ )	...............................	...............................	...............................	................................-
22.	Net adjustment in assets and liabilities due to foreign exchange......................................rates	...............................	...............................	...............................	................................
23.	Receivables from parent, subsidiaries and a	liates	1,568,619	...............................	1,568,619	1,707,704
24.	Health care ($ ) and other amounts receivable	...............................	...............................	...............................	................................
25.	Aggregate write-ins for other-than-invested assets	4,896,341	4,842,243	...............................54,098	................................45,545
26.	Total assets excluding Separate Accounts, Segregated Accounts and
	Protected Cell Accounts (Lines.........................................................................................12 to 25)	120,590,076	25,864,510	94,725,566	101,993,050
27.	From Separate Accounts, Segregated Accounts and Protected Cell Accounts	...............................	...............................	...............................	................................
28.	.........................................................................................Total (Lines 26 and 27)	120,590,076	25,864,510	94,725,566	101,993,050
Details of Write-Ins
1101.	............................................................................................................................................	...............................	...............................	...............................	................................
1102.	............................................................................................................................................	...............................	...............................	...............................	................................
1103.	............................................................................................................................................	...............................	...............................	...............................	................................
1198. Summary of remaining write-ins for Line 11 from over ow......................................page	...............................	...............................	...............................	................................
1199. Totals (Lines 1101 through 1103 plus 1198) (Line 11 above)	...............................	...............................	...............................	................................
2501. Prepaid Expense	4,842,243	4,842,243	...............................-	................................
2502. Premium Tax Receivable	...............................51,513	...............................	...............................51,513	................................42,958
2503. Other............................................................................................................................................Assets	...............................2,585	...............................	...............................2,585	................................2,587
2598. Summary of remaining write-ins for Line 25 from over ow......................................page	...............................	...............................	...............................	................................
2599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)	4,896,341	4,842,243	...............................54,098	................................45,545

Quarterly Statement as of June 30, 2023 of the Merastar Insurance Company

LIABILITIES, SURPLUS AND OTHER FUNDS

				1	2
				Current	December 31,
				Statement Date	Prior Year
1.	Losses (current accident year $ )	..............................	..............................-
2.	Reinsurance payable on paid losses and loss adjustment expenses	..............................	..............................
3.	Loss adjustment expenses	..............................	..............................
4.	Commissions payable, contingent commissions and other......................................................................................................similar charges	..............................29,071	..............................30,471
5.	Other expenses (excluding taxes, licenses and fees)	......................................................................................................	26,509,360	46,916,629
6.	Taxes, licenses and fees (excluding federal and foreign income......................................................................................................taxes)	..............................103,154	..............................93,707
7.1	Current federal and foreign income taxes (including $	on realized capital gains (losses))	..............................817,787	1,150,202
7.2	Net deferred tax liability	..............................	..............................
8.	Borrowed money $	and interest thereon $	......................................................................................................	..............................	..............................

9. Unearned premiums (after deducting unearned premiums for ceded reinsurance of $ 374,495 and including


	warranty reserves of $	and accrued accident and health experience rating refunds including $	for medical
	loss ratio rebate per the Public Health Service Act)	..............................
10.	Advance premium		.........................................................................................................................................................	..............................135,475	..............................24,652
11.	Dividends declared and unpaid:
	11.1	Stockholders		..............................	..............................
	11.2	Policyholders		..............................	..............................
12.	Ceded reinsurance premiums payable (net of ceding commissions)	..............................912,653	..............................898,882
13.	Funds held by company under reinsurance treaties	..............................
14.	Amounts withheld or retained by company for account of others	4,796,296	5,123,143
15.	Remittances and items not allocated	1,209,906	1,207,879
16.	Provision for reinsurance (including $	certi ed)	..............................
17.	Net adjustments in assets and liabilities due to foreign exchange......................................................................................................rates	..............................
18.	Drafts outstanding		.........................................................................................................................................................	..............................	..............................
19.	Payable to parent, subsidiaries.........................................................................................................................................................and a	liates	32,647,562	27,202,558
20.	Derivatives			..............................	..............................
21.	Payable for securities	.........................................................................................................................................................	..............................	1,966,500
22.	Payable for securities lending	..............................	..............................
23.	Liability for amounts held under uninsured plans	..............................
24.	Capital notes $	and interest.........................................................................................................................................................thereon $	..............................
25.	Aggregatewrite-insfor liabilities	..............................189,552	..............................186,973
26.	Total liabilities excluding protected cell liabilities (Lines 1 through......................................................................................................25)	67,350,816	84,801,595
27.	Protected cell liabilities	.........................................................................................................................................................	..............................	..............................
28.	Total liabilities (Lines 26 and.........................................................................................................................................................27)	67,350,816	84,801,595
29.	Aggregatewrite-insfor special.........................................................................................................................................................surplus funds	..............................
30.	Common capital stock	.........................................................................................................................................................	3,000,000	3,000,000
31.	Preferred capital stock	.........................................................................................................................................................	..............................	..............................
32.	Aggregatewrite-insforother-than-specialsurplus funds	..............................
33.	Surplus............................................................................................................................................................................................................notes			..............................	..............................
34.	Gross paid in and contributed.........................................................................................................................................................surplus	68,463,845	68,463,845
35.	Unassigned funds (surplus)	(44,089,094)	(54,272,390)

36. Less treasury stock, at cost:

36.1	shares common (value included in Line 30	$	)	..............................	..............................
36.2	shares preferred (value included in Line 31	$	)	..............................	..............................
......................................................................................................37. Surplus as regards policyholders (Lines 29 to 35, less 36)	27,374,751	17,191,455
.........................................................................................................................................................38. Totals (Page 2, Line 28, Col. 3)		94,725,566	101,993,050
Details of Write-Ins
2501. Escheat			..............................189,552	..............................186,973
2502			..............................	..............................
2503			..............................	..............................
2598. Summary of remainingwrite-insfor Line 25 from over ow......................................................................................................page	..............................	..............................
2599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)	..............................189,552	..............................186,973
2901			..............................	..............................
2902			..............................	..............................
2903			..............................	..............................
2998. Summary of remainingwrite-insfor Line 29 from over ow......................................................................................................page	..............................	..............................
2999. Totals (Lines 2901 through 2903 plus 2998) (Line 29 above)	..............................	..............................
3201			..............................	..............................
3202			..............................	..............................
3203			..............................	..............................
3298. Summary of remainingwrite-insfor Line 32 from over ow......................................................................................................page	..............................	..............................
3299. Totals (Lines 3201 through 3203 plus 3298) (Line 32 above)	..............................	..............................

Quarterly Statement as of June 30, 2023 of the Merastar Insurance Company

STATEMENT OF INCOME

1	2	3
		Prior Year Ended
Current Year to Date	Prior Year to Date	December 31

Underwriting Income

1. Premiums earned:

1.1.	Direct (written $ 605,898)	......................................677,100	......................................2,195,452	......................................3,395,999
1.2.	Assumed (written $ )	......................................	......................................	......................................
1.3.	Ceded (written $ 605,898)	......................................677,100	......................................2,195,452	......................................3,395,999
1.4	Net............................................................................................................................................(written $ )	......................................-	......................................	......................................-

Deductions:

2. Losses incurred (current accident year $ ):

	2.1	Direct	......................................359,979	......................................875,216	......................................1,522,358
	2.2	Assumed	......................................6,890	......................................2,985	......................................3,956
	2.3	Ceded	......................................366,869	......................................878,201	......................................1,526,314
	2.4	Net	......................................-	......................................	......................................-
3.	Loss adjustment expenses incurred	......................................	......................................	......................................-
4.	Other underwriting expenses incurred	......................................	......................................	......................................-
5.	Aggregatewrite-insfor underwriting....................................................................................................deductions	......................................	......................................	......................................
6.	Total underwriting deductions (Lines....................................................................................................2 through 5)	......................................-	......................................	......................................-
7.	Net income of protected cells	......................................	......................................	......................................
8.	.................................................Net underwriting gain (loss) (Line 1 minus Line 6 + Line 7)	......................................-	......................................	......................................-
		Investment Income
9.	Net investment income earned	......................................1,304,108	......................................772,325	......................................1,811,555
10.	Net realized capital gains (losses) less capital gains tax of $ 4,067	......................................15,299	......................................(24)	......................................(319)
11.	....................................................................................................Net investment gain (loss) (Lines 9 + 10)	......................................1,319,407	......................................772,301	......................................1,811,236
		Other Income

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

	amount charged off $ )	...................................... ...................................... ......................................
13.	Finance and service charges not included in premiums	...................................... ...................................... ......................................
14.	Aggregatewrite-insfor miscellaneous....................................................................................................income	...................................... ...................................... ......................................(21)
15.	....................................................................................................Total other income (Lines 12 through 14)	...................................... ...................................... ......................................(21)

16. Net income before dividends to policyholders, after capital gains tax and before all other federal

	and foreign income taxes (Lines 8....................................................................................................+ 11 + 15)	......................................1,319,407	......................................772,301	......................................1,811,215
17.	Dividends to policyholders	......................................	......................................	......................................
18.	Net income, after dividends to policyholders, after capital gains tax and before all other federal
	and foreign income taxes (Line 16....................................................................................................minus Line 17)	......................................1,319,407	......................................772,301	......................................1,811,215
19.	Federal and foreign income taxes....................................................................................................incurred	......................................(1,143,163)	......................................(1,589,879)	......................................1,769,750
20.	....................................................................................................Net income (Line 18 minus Line 19) (to Line 22)	......................................2,462,570	......................................2,362,180	......................................41,465
21.	Capital and Surplus Account
Surplus as regards policyholders, December 31 prior year	......................................17,191,455	......................................17,984,766	......................................17,984,766
22.	Net income (from Line 20)	......................................2,462,570	......................................2,362,180	......................................41,465
23.	Net transfers (to) from Protected....................................................................................................Cell accounts	......................................	......................................	......................................
24.	Change in net unrealized capital gains or (losses) less capital gains.................................................tax of $	......................................	......................................	......................................-
25.	Change in net unrealized foreign exchange capital gain (loss)	......................................	......................................	......................................
26.	Change in net deferred income tax	......................................(2,866,115)	......................................(1,429,879)	......................................1,447,300
27.	Change in nonadmitted assets	......................................10,586,842	......................................(294,910)	......................................(2,150,759)
28.	Change in provision for reinsurance	......................................	......................................	......................................
29.	Change in surplus notes	......................................	......................................	......................................
30.	Surplus (contributed to) withdrawn from protected cells	......................................	......................................	......................................
31.	Cumulative effect of changes in accounting principles	......................................	......................................	......................................
32.	Capital changes:
	32.1. Paid............................................................................................................................................in	......................................	......................................	......................................
	32.2. Transferred from surplus (Stock Dividend)	......................................	......................................	......................................
	32.3. Transferred to surplus	......................................	......................................	......................................
33.	Surplus adjustments:
	33.1. Paid............................................................................................................................................in	......................................-	......................................	......................................-
	33.2. Transferred to capital (Stock Dividend)	......................................	......................................	......................................
	33.3. Transferred from capital	......................................	......................................	......................................
34.	Net remittances from or (to) Home....................................................................................................O ce	......................................	......................................	......................................
35.	Dividends to stockholders	......................................	......................................	......................................
36.	Change in treasury stock	......................................	......................................	......................................
37.	Aggregatewrite-insfor gains and....................................................................................................losses in surplus	......................................	......................................(131,317)	......................................(131,317)
38.	.................................................Change in surplus as regards policyholders (Lines 22 through 37)	......................................10,183,297	......................................506,074	......................................(793,311)
39.	.................................................Surplus as regards policyholders, as of statement date (Lines 21 plus 38)	......................................27,374,751	......................................18,490,839	......................................17,191,455
Details of Write-Ins
0501.	.......................................................................................................................................................	......................................	......................................	......................................
0502.	.......................................................................................................................................................	......................................	......................................	......................................
0503.	.......................................................................................................................................................	......................................	......................................	......................................
0598.	Summary of remaining write-ins for Line 5 from over ow page	......................................	......................................	......................................
0599.	Totals (Lines 0501 through 0503 plus 0598) (Line 5 above)	......................................	......................................	......................................
1401.	Miscellaneous Income	......................................	......................................	......................................(21)
1402.	.......................................................................................................................................................	......................................	......................................	......................................
1403.	.......................................................................................................................................................	......................................	......................................	......................................
1498.	Summary of remaining write-ins for Line 14 from over ow page	......................................	......................................	......................................
1499.	Totals (Lines 1401 through 1403 plus 1498) (Line 14 above)	......................................	......................................	......................................(21)
3701.	Lease Accounting Correction	......................................	......................................(131,317)	......................................(131,317)
3702.	.......................................................................................................................................................	......................................	......................................	......................................
3703.	.......................................................................................................................................................	......................................	......................................	......................................
3798.	Summary of remaining write-ins for Line 37 from over ow page	......................................	......................................	......................................
3799.	Totals (Lines 3701 through 3703 plus 3798) (Line 37 above)	......................................	......................................(131,317)	......................................(131,317)

Quarterly Statement as of June 30, 2023 of the Merastar Insurance Company

CASH FLOW

		1	2	3
				Prior Year Ended
		Current Year To Date	Prior Year To Date	December 31
	Cash from Operations
1.	Premiums collected net of reinsurance	......................................5,775	(50,733)	......................................(49,702)
2.	Net investment income	......................................1,285,144	849,157	......................................1,971,640
3.	Miscellaneous income	......................................	......................................	......................................(21)
4.	Total..........................................................................................................................................................(Lines 1 to 3)	1,290,919	798,425	1,921,916
5.	Bene t and loss related payments	......................................-	......................................	......................................-
6.	Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts.	......................................	......................................	......................................
7.	Commissions, expenses paid and aggregate write-ins for deductions	......................................20,399,222	(15,015,944)	......................................6,344,353
8.	Dividends paid to policyholders	......................................	......................................	......................................
9.	Federal and foreign income taxes paid (recovered) net of $ tax on capital gains (losses) .	......................................(806,681)	......................................	......................................4,941,726
10.	Total (Lines 5 through 9)	......................................19,592,541	(15,015,944)	......................................11,286,079
11.	Net cash from operations (Line 4.......................................................................................................minus Line 10)	(18,301,622)	15,814,369	(9,364,162)
	Cash from Investments
12.	Proceeds from investments sold, matured or repaid:
	12.1 Bonds	......................................6,141,248	2,385,882	......................................4,608,178
	12.2 Stocks	......................................	......................................	......................................
	12.3 Mortgage..................................................................................................................................................loans	......................................	......................................	......................................
	12.4 Real..................................................................................................................................................estate	......................................	......................................	......................................
	12.5 Other invested assets	......................................	......................................	......................................
	12.6 Net gains or (losses) on cash, cash equivalents and short-term investments	......................................(2,025)	(30)	......................................
	12.7 Miscellaneous proceeds	......................................250,000	......................................	......................................1,966,500
	12.8 Total investment proceeds (Lines.....12.1.........................................................................................to 12.7)	......................................6,389,223	2,385,852	......................................6,574,678
13.	Cost of investments acquired (long-term only):
	13.1 Bonds	......................................2,276,122	3,124,770	......................................11,934,757
	13.2 Stocks	......................................	......................................	......................................
	13.3 Mortgage..................................................................................................................................................loans	......................................	......................................	......................................
	13.4 Real..................................................................................................................................................estate	......................................	......................................	......................................
	13.5 Other invested assets	......................................	......................................	......................................
	13.6 Miscellaneous applications	......................................1,966,500	......................................	......................................250,000
	13.7 Total investments acquired (Lines......13.1........................................................................................to 13.6)	4,242,622	3,124,770	12,184,757
14.	Net increase (or decrease) in contract loans and premium notes	......................................	......................................	......................................
15.	Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)	2,146,601	(738,918)	(5,610,079)
	Cash from Financing and Miscellaneous Sources
16.	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	......................................	......................................	......................................
	16.6 Other cash provided (applied)	......................................10,397,000	2,063,544	......................................21,848,870
17.	Net cash from nancing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5
	plus..........................................................................................................................................................Line 16.6)	......................................10,397,000	2,063,544	......................................21,848,870
	Reconciliation of Cash, Cash Equivalents and Short-Term Investments
18.	Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17) .	......................................(5,758,020)	17,138,995	......................................6,874,628
19.	Cash, cash equivalents and short-term investments:
	19.1 Beginning..................................................................................................................................................of year	......................................10,642,818	3,768,190	......................................3,768,190
	19.2 End of period (Line 18 plus Line 19...1)	......................................4,884,798	20,907,185	......................................10,642,818
Note: Supplemental disclosures of cash ow information for non-cash transactions:
...............................................................................................20.0001. Intercompany Settlement	......................................2,557,201	......................................	......................................3,459,703

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Kemper Corporation published this content on 22 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2023 20:02:44 UTC.

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