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HomeMy WebLinkAbout29-City Attorney , From: James Penman Subject: GOLDl!:N EAGt..l!: I~SURANCE COMPANY SECURITY RATING ~: City Attorney Date: May 19, 1989 J,jJ Synopsis of Previous Councilection: Recommended motion: That Marlborough Development Company be required to provide a substitute security from a surety with a rating of "A" or better in the Best's Rating Guide, for a tract of 117 single family dwellings located south of Kendall Drive and east of Little Mountain Drive. ignature Supporting data attached: Phone: 384-5355 Ward: Contact parson: John wilson FUNDING REQUIREMENTS: Amount: Source: (Acct. No.) (Acct. Descriotion) Finance: Council Notal: '.. ....-!!J Q ciTY OF SAN BERN"'DlNO - R.QUI!'T~i.IL ACTION STAFF REPORT i;i~",f*,',i!i!; ...:; "';f(-':'>,;':",x;1/:V;" Marlborough Development Company submitted suretY'bOnds issued by the Golden Eagle Insurance Company as security for off-site improvements related to the developmento~ ~t,~4t~~~a~ housing project on the north slope of Li tUe Moulital'~\~f."ii9~lden Eagle Insurance Company is not listed .i.n. . .J,:"~'i' .... u.i.de. ,Tberef<>>:e " the bonds have been rej .ot',i: . ".. ". .. ........ ..' .tteering Department and by the City Attorney's Offlc'\""!",.'.I'a.n Eagle is appealing this decision pursuant to San Bernardin9~ut1icipal Code Section 2. 64 . . The subject project was originally developed by, B~ock Brothers. The project has been transferred to MarlbOrqug~;. .~on<1s were put into place by Block Brothers during th.:tr~!Il~II!Jij)P!",ent of the project. The bonds in issue are .those b.;l.i).9")A,.*.l\';oPlace by Marlborough to relieve the Block Bros. SUr.e.i.'.. i from their obligation on the project. The original bonds continue in force at this time. Steve Eona of the Engineering Department has had discussions with Dorian Johnson, Project Coordinator for the developers, regarding the bond issue. Mr. Johnson indicated that th.r.will be no problems and the GOlden Eagle bonds have be.n returned to him. The appea~ is being sought by Anderson and And.rson Insurance Brokers. They are apparently the insurance brok.rs who placed the account with Golden Eagle. Attached find a legal opinion prepared by Pat Zi~ermaon of this office in April of this year with respect to this issue. It is the position of this office that the surety must have a rating of A or better in Best's Rating Guide to be considered as appropriate security. Golden Eagle has provided a copy of its annual statement and other evidence of i t.s 8CC.p'!;~C~ .8" a surety in other jurisdictions. It has otherwiseste.t,,;"'iln '1.tswritten communication of April 13, 1989, that itwiU~'9~+ye its Best's rating in January of 1990. This office has'. M".Y,P! evaluating this information in order to make a determinatj,c)P Be to Golden Eagle's conformance with those standards required to earn it a rating of A or better in Best's Rating Guide. ' It is recommended that the developer be reQ4+:re<1to provide substitute security from a surety with a r"'t1.n9bf,~ (lr better in Best's Rating Guide. 75-02'. ~ .. o BERNARDINO ,', ';' ..,.' ' ',:";.'!i~~Y ;"_~_:\~.!!i;.:~ '.. '. JAMES F. PENMAN CITY ATTO"NIY 1714) 384-13. ROGER HARDGRAVE Public Works/Engineering REI Bond Rating Requirements ISSUE The following issues have been (1) Does the City require bond8,,~~~,,~~~,A uUng or better as security for improvements orp.lfpr....Q9.? ' .. ," ":~'~>;:~J. -',' ','0' (2) Are bonds with an NA-3 rating .cc.'t~le as security for improvements or performances? CONCLUSION The municipal code requires bClll~Ii_~, classified as A or better in the 19(11' "1"", security for improvements or perfor.~t'';<1';;; NA-3 rating have insufficient experi'~~4(, rated. The NA-3 bonds would not cOlllfJ.V"t<<lJ of the municipal code and therefore~C)I,tI~,i:b ' security for improvements or performance. ' , " ,r)!.9e>mpanies ",. .' as .~; with a 'h"to be }l:81quirements ~c.pt:able as " :"'~:""'-"':-'" AN~YSIS " '., " The San Bernardino Municipal Code S'9~~..~~~~~~t~a9i,r.garding subdivision improvements states in part thtt;'t .; , .... in the event a contrac.ti.;;;,.n~..~.'d into for completion of tho ,..,',.1lll. '. ~.O'.', '~'i. k, ments, the contract sha11b.;I~c.ilr'.';! by a Good and sufficie~~ i~p~~~!~.~!~ security in a form sat!,.f. .Q..,..t. q:l.,.....~.;..,.. ..,t'9.......,..,.,.i;.~..,..\i the City Attorney.. (elliPb.~i'1;~"HJ;.,' ~ ~ o o Roger Bardgrave April 10, 1989 Page 'I'Vo While the above section does not define -go04 .and sufficient,- Section 12.04.090 of the San Bernardino Municipal Code dealing with street excavations which also requires a -good and sufficient- surety bond, does define such bond aSI -Any person intending to make an excavation in any street or sidewalk... shall file with the Director of Public Services a aood an4 sufficient bond... All bonds filed with the Director of Public Services... shall be execute by companies classified as A or better in the Current Best's Rating GUide.- (emphasis added) The California Courts have held that words or phrases used in one part of an enactment should be construed in the same sense in another, in the absence of an express definition. Similar phrases or sentences used in statutes, will be given the same interpretation, this includes similar words used in different code sections or provisions. In Shorb vs. Barklev 108 CA2d 873, 877 (1952), Hunstock VB. Estate Develonment Cornoration 22 C2d 205, 210 (1943). Rules for construction arid interpretation of statutes also apply to municipal ordinances. County of Madera vs. Sunerior Court of Madera County 39 CA3d 665, 668 (1974), Welshans vs. Citv of Santa Barbara 205 CA2d 304, 308 (1962). In accordance with the above caselaw, -good and sufficient- in Section 18.44.020 should be interpreted as it is defined in Section 12.04.090. Therefore, the San Bernardino Municipal Code requires security bonds to be executed by companies classified as A or better in the 1988 Best's Ratina Guide. The 1988 Best's Ratina Guide gives companies with insufficient experience upon which to be rated a NA-3 classification. The NA-3 classification is not an 'A rating or better, therefore bonds with a NA-3 rating would not be -good and sufficient- as required by the San Bernardino ~ r o Roger Sardgrave April 10, 1989 Page Tbree ,.....,;..",..,"'"'" .'"'"".:,,.. ",f,"-' ~:'''':,,-:",>, '~':"';:' ~ ',.{ ',:";;1."". ":"i>~"""""~'!:-#~" ;''':'''>l'~'<'",-",:", ~.9ft'1'<'>,;"i""'" , "'~i,/>' ''1~'\;:~,t''?\''rt -~',:",_:,::;:i,' ,':,' !c,:-,' ;,' ,~'_;:'h:/,;",,/~tG,~,: Municipal Code and would not be accept.trl.}~~; imprOvements or performance. Concur: cc: EVlyn Wilcox, Mayor City Council Members City Clerk City Treasurer City Administrator Youn Kim, Engineering Dept. - r ,-,:',: Xt,.:t:;. -~-,,:?'tllf~;}i;t'n~i<r ';-,"r',"'", 0,,,,,",',, ,:.'"" , '..~:. '..1. ','j.' _ . .-'." , o -'-.. '.AncJerson ~rd Anctersoo ~ ~ Insurance Brokers. inc. . .: .","',.........li!'.Mltl. Off. :',. ':<'::'~/f'!:,;f~tt"''''"''~?f:;:/': - - ,_ _ , .' \6 rM 1: 43 RE"C:l"~~ ,.... .l\A.1'-' '''''_~ ','''''' _'_ _ -" ':!"(i' May 12, 1989 Cl'1Y CLERK 300 N "D" St San Bernaniino, CA 92418 Atten: Shauna Clark RE: OOIDEN El\GtE INStllWC!: <XHPANY Dear Shauna: ;' Pursuant to a discussion with Jam Wilson, we ~ ~~to be put en the City COUnsel's 1\genda. Mr. Wilson has infonued us that the counsel nust apprqvea suxety carpany which is not "A" listed by BEST. We have suwlied documentation of the financial strength and facts of ~ City's approval including IDs Angeles and San Bernaniino 00. Please discuss this with Jam and place us on the earlieSt agenda. Terry Gage will represent Golden Eagle Insurance carpany. 'D1eir address: 7175 Navajo Rd., San Diego, CA 92119-1642. ,/ . , Sincerely, ~~~~ Vice President 'roM.:vc ee: Terry Gage - Golden Eagle c:: ~ <lI '" <Il "'0- Qj "0 E e L? 0 tU "t ,.....u ~'.-lQ)QJ ..c: u u . U <C c:: ~ ~O ~ ~ ~ ~ ~ ns Q).__ ..c:: '" ~ u .- ::s Q) .~ ~ a:: bb ~ ... X '" ~ Il..UHtJ "'lj ~ ~ c:: <lI O..c:"" <lI c:: ~ u........... ~ OJ U .- 00 1:: u c:: ,~ .e-> c:: .9 ~ '" 0 ..,~._ J-l ._ ~ '"' s:: """ bO ~~O~~QJ~::S~~~ Q) Q) "2 ...::at:"C ~......... t/).D s:: 1--1 '" > ^' ... ~ "'" c:: ._ S::'- ..... ra -I""" <1.1- f./) s:: <lI C::CIl"" .....c:- '" <lI '" :::::J >-:::: ~ .9: e..c: -S rJ) ra ~ ~ 0 ~ ~ 0 ~ ~ s::.S . '" '" E .... ~ r" ..... OJ i-I-I .- 00 OJ ..... s:: ""J c:: p\ tIl \0 ECIl <lIC::"'<lIv>-1l"'~ (Q 0 0"'0 OJ ra "'0 tJ) u" bO QJ -. bO...... .- "'lj ~'..-l QJ C l'tI.S QJ . 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'" - '" 0 '" - ""'- OJ ro::::r ::J ... '" 0.. - - '" '" ~:E iil ;:- 0.: n ... '" 0 '" 3 '" r"l"O -. ::r" f't) 3 9.::r. ""0 (j ::r. - '" < '" '" -0- o "",,< PREMIUM DOLLARS (MILLIONS) o N o ~ o c- o ~ o '" o '" o ~ '" '" ... ~ '" ...('" m'" )> :;0 Vl~ '" '" '" ~ '" '" " 0> o on o o o < -l "Oc3Qi 0 -. ::T ... r"l '" 0.. _. o vr '"1 C.l :.:: S' en c.. ;.;- r"l ..... CJ Q<:l ~. s:::::: ...... ro :J () ::::r:::-. -. ~ rc ""1 ::s ro 0 ... 0 Q<:l < ~ C ro <..:::: a- Q<:l ()"O ~ '" ::T 0 ... 0 tl -. 3 0 "'" llJ ::J 3 ::;.- ~ tT'j r"l r"l 0.. '" '" ~. 0 '" ... a- ~ 3 "On =0 !"l ro ~. ::;: .-;. "2- ::J -'< -. 0.. -. <:j tT'j (ii' '" ::J OJ ~ ::T ::J '" ::J ~ '" _Co.. ~ 0.. ... _. llJ Q<:l CJ ::J ::J ... a- '" r"l 0 ~ '< C '" :: "'"0 - tT'j "0 llJ ... ::T ... ::J 0 a- ... 0 ~ '?--<-< fJ') , 0 '"tl 0; tT'j :;: v: 0: ::; :;::::, 0 0 0 0 0 ~ ~ ~ "-; ::;;:l ~ 0 CJ ~ '"tl ~ 0 ::c ~ ~ "-; r) "< t'Tl N 6'::JVl _. ro ro :::: '" ::! -< c........ "",r"l _. 0 '" ::J ... _ s:::::: ::::-. :T ::J 3 ~ 0.. '" ... ro~~ ... ... 0 :E '" Q<:l ... '" - -'"0 ~ =. 0 N' ::J ::J '" Q<:l '" '" . '" OJ OJ ::J ::J OJ o..Q<:l ::!l'" '" ::J x '" , '" _ N o 0 c- o ...... ~ ... ;0;- '" ~ Q :: :: '" Cl ;:;. - (j o :: :: '" Cl -. ::. - ~ - - - ..... 'j" ~ ... -. - -< > ,., -< z D ~ m Cl 0 ::; > c- '" Cl '= c- '= '" )I m m n"''U fJ') :i' m '" a~- 0 '" z :::: 0 ~ ..... Z -< - '" U> m ~ -\"tl "-; '" ()~ l::l "" a '" ;i ;:;:"" '" :i -. '" '" ;:::: tl'l:i ~ '" a ~ 0"... ;;;-'" trl ~~ ~ '" a l::l.. ~ 3 i:l '" ;:: :1'. " a '" '" (j o :: '1:! '" ;: '" :::, ..... c' ;: ~ :::: 8" :: o <::l" -. - '" r~ .",j . .:'~ -' ;--~ ,"------,/ " "~ --: ,------, \ --~ \~ r-'--'~' .----_/j "---_./ L ~. ; -.~- ,-- Ii<...~= --~ ~- "-- 7~ uL' / \ r-~- .\-'-- ----.::, J'::.___\ " '--- F<---- '-..----" -_:.-~ ~/ /~-. i(~ ;~ / ~, ~. r-' -~, ~ 'J '--- I: r-,~ -~~~.~ \. /-~- '~ /--- /':/ . _/ !- - " ~ / ir \~ ',.../ / - , , /r----- \~- --_/ , 'J ,- ~ ~ // t/'.,'::!J ~ r--- --...... ~ <;: ?~ ,-0 _ __.1 i---; // /' \...../LJ. ~ /- I/-~ \..-"', I 'o...J L, ~../ r---~' ,~. ~/ GOLDEN EAGLE INSURANCE COMPANY 7175 Navajo Road. San Diego, California 921 19-1642 . (619)463-5800 Fax: (619) 460-8860 . Telex: 55 9751 June 2, 1989 All Council Members C-ity of San Bernardino 300 North "0" Street San Bernardino, Ca 92418 TIc: Acceptance of Golden Eagle Insurance Company's Surety Bonds by The City of San Bernardino. Dear Councilmen and Councilwomen: 11: has recently come to our attention that the city of San Bernardino has made the decision not to accept bonds written by Golden Eagle Insurance. I can understand, and appreciate, the city's intention in protecting itself against an unknown or unproven surety, but I would like to point out that Golden Eagle is neither of the above. Golden Eagle'S Surety Department has been in business roughly four years, and because we are young our treasury listing is only now being considered. Our company is to receive our rating from Best J",xt January. I have enclosed the following for your review: -k December 31, 1988 Quarterly Financial Insurance. Annual statement and March 31, 1989 Statement submitted to the Department of * Certificate of Authority, outlining the classes of insurance Golden Eagle is authorized to transact in the State of California. * Certificate of Golden -Eagle requirements. Compliance dated March has complied with all 3, 1989 certifying the Department's * Description of securities hald by the Department of Insurance. * Financial Profile of Golden Eagle and list of the Management Staff. * Reference letters from various obligees. Continued. . . . . . council Members June 2, 1989 Page 2. I would also like to point out that the fallowing public entities have accepted Golden Eagle's bonds and have done so since the inception of the Bond Department: . City and County of San Diego . city and County of Los Angeles . city and county of Orange . City and County of Sacramento . City and County of Riverside . State of California, Department of Corrections, and Cal-Trans. . San Diego Gas & Electric Examples of general contractors who accept Golden Eagle's bonds include: . Hensel Phelps/Engicon . The Baldwin Company . C.A. Larsen . Turner Construction . C.L. Peck/Jones Bros. . General Construction Co., Inc. (Based in seattle) The following is a partial list of clients represented by Golden Eagle: . Marlborough Development Corp. . Davidson Communities . Camray Development and Construction (Sacramento) . Atlas Hotels * Chilcote, Inc. . Kettering & Krussman . Franklin Steel . Sapper Construction . W. Wolf Industries . Ham Bros. Construction Continued....... - council Members June 2, 1989 Page 3 Hopefully, this information will clarify who we are and what we are capable of. As can be seen, we are an aggressive, rapidly growing insurance company with substantial capital backing. If you are not convinced by this information that we are an extremely capable surety, please call me to discuss this further. sincerely, Golden Eagle Insurance Company T~a~ Surety Manager TFGjdju encls. ( ;OI.JDEN __ E~E INSURANCE COMPANY Corporat~ Headquarters: San Diego, CA 1175 Nllnjo Road, San DlflO, CA 92119-1642 (619) 463-5800 . Fa~: (619) 46CJ..&86O . Telell: 559151 FINANCIAL PROFILE STATUTORY (in thousands) December 31, ASSETS: March 31, 1989 1988 1987 1986 1985 1984 - - - - - Cash & Equivalents 72,124 69,344 79,452 29,788 14,427 4,358 Bonds 142,971 118,269 22,921 10,418 Stocks 9,629 8,151 7,510 1,375 Real Estate Loans 24,995 26,908 11,920 4,290 Real Estate 2.397 2.415 2,062 2,059 2,000 Premium Balance 26,890 25,757 39,168 21,202 1,573 772 Other Assets 4,459 3,740 1,711 773 68 40 Total Assets 283,465 254,584 164,744 69,905 18,068 5,170 LIABILITIES: Loss Reserves 144,045 128,174 54,203 12,191 3.492 679 Unearned Premiums 71,917 67,305 59,186 36,791 5,400 1,786 Policy Dividend Provision 4,336 4,269 2,823 Other Liabilities 5,625 3,884 10,421 3,119 708 229 Total Liabilities 225,923 203,132 126,633 52,101 9,600 2,694 Surplus to Policyholders 57,542 50,952 38,111 17,803 8,469 2,475 Direct Written Premium 63,635 217,548 163,636 80,D30 28,533 6,828 Net Written Premium 52,965 167,987 116,911 58,769 13,326 3.475 Ratio: Loss Ratio 62.7 73.8 66.2 60.0 62.2 68.1 Expense Ratio 23.7 23.7 20.5 21.2 26.6 28.2 Combined Ratio 86.4 97.5 86.7 81.2 88.8 96.3 Direct Premium to Surplus 1.1 4.3 4.3 4.5 3.4 2.8 Net Premium to Surplus .9 3.3 3.1 3.3 1.6 1.4 GOLDEN E~E INSURANCt: COMPANY Corponte Headquarters: San Dqo, CA 7175 Navajo Road, SIlO Dlq,o. CA 92119-1642 (619) 46J...S800 . Fu: (619) 460-8360 . Telell;: 559751 Management Staff JOHN C. MABEE Chairman of the Board. Principal stockholder. Significant holdings in supermarkets, real estate, securities and race horses. Actiw in San Diego business affairs since the early 1950's. MICHAEL E. JAMES President and Chief Executive Officer. A graduate of San Diego Scate, was formerly Senior Vice Presi- dent of Marketing. Prior experience includes Senior Vice President, Albert D. James General Insurance Agency. Has been engaged in San Diego Insurance activities since 1968. WILLIAM B. RIPPEE Senior Executive Vice President. Formerly district manager for Farmer's Insurance Group 38 years. Active in San Diego area business since 1948. WILLIAM BACCALA Executive Vice President. Formerly Executive Vice President Superior National. Past President Cal-Ag, a subsidiary of Zenith National. JAMES S. MUNAK Executive Vice President - General Council. Actively engaged in the practice of law in the Scate of California since 1971. Received J.D. degree in 1970 from California Western School of Law, San Diego, Califor- nia, and his B.A. in 1962 from St. Benedict's College. Member of the Scate Bar of California and the San Diego Bar Association. BRIAN P. CHAMBERS Executive Vice President - Equine Mortality. Formerly Vice President/Loan Officer of Wells Fargo Bank with emphasis in the Thoroughbred Horse Industry. ROBERT W. MARSHALL Senior Vice President - Operations. Formerly Operations Manager Cal Farm Insurance Company. Prior experience includes administrative positions with Great American Insurance Company and Continental Insurance and Brokerage Corporation. EILEEN J. BOOSALES Senior Vice President - Administration. Formerly Controller of All-State Insurance Company-Ohio Region. Prior experience includes 19 years in the insurance industry. H. PAUL HAGMEIER Senior Vice President - Underwriting. Formerly Commercial Lines Supervisor, Home Insurance Company and Underwriting Manager, New Hampshire Insurance Company. Active in San Diego insurance area since 1963. TED E. WILKINS Vice President - Finance. Formerly Vice President and Treasurer of S & H Insurance Companies. Prior ex- perience includes financial and administrative positions with Republic Western Insurance Company, Oxford Life In- surance Company and Prudential Insurance Company. DAVID W. WHITTINGTON Vice President - Special Risks. Formerly in Underwriting and Marketing positions with Allianz, Trans- america and New Hampshire Insurance Companies. ALLEN STERGER Vice President - Professional Liability. Previously with Harbor Insurance Company for 12 years. Senior Vice President (4 + years) National D & 0 program. NEIL POILLON Vice President - Investments. Formerly Senior Research Analyst and Senior Investment Officer with Security Pacific. Portfolio Manager with California First Bank, A VP Lending Officer with Citizens Western Bank. TERRY GAGE Manager - Surety Bonds. Formerly Manager with Spencer Douglass Insurance Associates. Prior experience includes 10 years in the surety industry. . . - .- ~ THE CITY OF SAN DIEGO SECURITY PACIFIC BANK. SUITE 1000.1200 THIRD AVENUE . SAN DIEGO, CA 92101 RISK MANAGEMENT DEPARTMENT R';:Ci:lV':;; ';lO,~1) DEPT. May 12, 1989 ..It'l "1 9 l\lB9 Golden Eagle Insurance Company 7175 Navajo Road San Diego, CA 92119-1642 Attention: Michael E. James, President RE: EMPLOYEE RECOGNITION Dear Mr. James: As you are aware, the City of San Diego is entering into thousands of purchasing contracts dealing with an untold number of contractors. The contractors perform and receive services from numerous companies that all must provide a multitude of types of bonds and insurance as a requirement in doing business with the City. The Gqlden Eagle Insurance Company in the past has been a valuable resource to the City of San Diego, not only from their participation in writing these required bonds and insurance, but in the interpretation of pOlicies, education of City personnel and assistance in developing policy for City requirements. I certainly don't have to elaborate on all of the assistance you personally have given to this department in the past, and I would like to personally thank you for all of your efforts. In the more recent past, I've had the extreme pleasure of dealing with your Bond Department Manager, Terry Gage. She addressed our Purchasing Department and helped the City develop a new purchasing policy and guidelines for the amount of the required bid bond. She is an extremely great resource for me and commands the attention of those people that she comes in contact with. She exhibits confidence but is very understanding when it comes to explaining a complicated business to folkes that do not have a grasp of the insurance industry. ,- ~. Re: Employee Recognition May 12, 1989 Page 2 Also within her department I recently had the pleasure of dealing with an employee by the name of Gigi Page. She was very aware of the concerns of the particular problem that the City was having with a contractor who was being required to maintain his bid bond while the City was entertaining a re-bid of the contract. Gigi was very thorough in her explanation of some of the problems to both myself and the City Manager's Office who had to explain to the City Counsel the reasons why the contractor's complaints were unfounded. I would also like to extend my appreciation for the time that she spent in doing this and can only say that if the rest of the Golden Eagle employees are half the quality of the ones that I have met, it's no wonder that you are growing as a leader in the insurance industry. Respectfully yours, Julian Johnson Insurance & Claims Manager JJ:lp cc: Terry Gage Golden Eagle Insurance Company Gigi Page Golden Eagle Insurance Company . . KOLL 7330 Engilll.-'\..'r 1':'1l.11I San Diego California 92111-1464 KoII Construction Company (619) 292-5550 April 21, 1989 GOLDEN EAGLE INSURANCE COMPANY 7175 Navajo Road San Diego, CA 92119-1642 Attn: Bonding Dept. - Ann Re: KBC Rancho California KCC #8204 Bond on Kosko Glass Dear Ann: This is to certify that Golden Eagle Insurance Company is an acceptable bonding agent for the above referenced job. If you need any further information, please do not hesitate to contact me. Very truly yours, KOLL CONSTRUCTION COMPANY tliff tion Manager JRSjaer cc: Marty B~een File CD~ 1u ~!?ltc f'-'-- Turner Construction Company , 445 South Figueroa Street. Los Angeles. Calif. 90071 Telephone (213) 683-1430 Turner June 2, 1988 Ms. Terry Gage GOLDEN EAGLE lNSURANCE CO. 7175 Navajo Road San Diego, CA 92119-1642 Reference: Kettering & Krussman Dear Terry: As discussed today, Turner will accept Golden Eagle as Surety for the Concrete Subcontractor, Kettering & Krussman, on the Pasadena Towers project. I would like to thank you for your cooperation and prompt response to each of our inquiries. Please find enclosed the embossed copies of the Certificate of Authority, Certificate of Conpliance, and the Security Deposit ReceiPt. These docwnents proved useful during our investigation. Very truly yours, TUR, N,ER CONSTR,UCT'C7ANY /&llAtM- C.F: Robertson Chief Purchasing Agent CFR:bob Enclousures JUN 0 i.J m,o - .....-..--..... Chlvnm 1~, -- Chevron U,SA. Inc. 935 Glavier Streel. New Orleans, LA 70112 June 23. 1988 Survival Systems International, Inc. 34140 Valley Center Valley Center. CA 92082 Actn: Jerrlanne Re: INSURANCB REQUIREKBNTS Dear Jerrlanne: SUSAN KELLER We have reviewed all financial information received on Golden Baa!llllJt\lRlIlGO-. Company and are happy to advlle we can accept coverage wrlct~ulJlfti( 'AIGP unlierwriter on a temporary basil. We look forward to an acceptable Beat's Rating In 1989. In reviewing the certificates received for Survival Systems, we note a general aggregate limit for the General Llabl11ty policy. Please be advlled. Chevron U.S.A. Eastern Region can not accept an aggregate limit for BOlilly InJurv Llabllltv. To accept same would permit contractors to work on our bc=halt who may have little or no coverage remaining under such policy at the time work Is performeli on Chevron property. Chevron requires a llmlt of at least $1.000,000 each occurrence, with no aggregate. (We have seen thll cured by endorsement, as per work for Chevron.) Also. ~ and.!!!. non-owned watercraft excluslona In the General LlabUlty policy must be deleted In their entirety. Thill was not evidenced on the certificate recelveli. Attached 11 a blank Chevron certificate for your use. We have not yet received complete copies of policies for review. Upon receipt of all requirements listed,. we wl11 update your file. Thank you for your attention to this matter. SI(t;1'~~ ~e-;: Kyle Production Department JTKI ~Mr. Michael ~ames Oolden Eagle Insurance Company 717~ NavajO R.oad San Diego. CA 92119-1642 Pacific Insurance Agency. P.O. Box 20160-X . San Diego. CA 92120 ,', Eastern Region-Exploration, Land & Production '. \WI '-'w..~. ""v..U..C....A4 ..,.,cu, n.... ......"'". ~G'IIC"U \ J lea ~ ! ~~u . QUARTERLY STATEMENT AS OF __ _ ... .~!Ul~' OF THE CONDITION AND AFFAIRS OF THE COLDEN "Act! INSIlRANr.V. r.oNPANY NAIC Group Code 0 .NAIC Company Code 10m Employer's 10 Number .._""", , made to the Organized under the Laws of the State of CALHOUU INSURANCE DEPARTMENT DF THE STATE OF CALlPOua PURSUANT TO THE LAWS THEREOF Incorporated __OEHlER 16. ".. Commenced Business D2CF~!' 21. 198] Home Office 717. 14'''0 .... ISheel and Numberj Mail Address 717;1 14'AJO .... I Ireel and Number) Main Administrative Office ..1., (Area C04eI Primary Location of aooks and Records 717. 14Y"O .... SAIl DIEGO CALlfOlUfIL_U.ll~642 'iCily 01 town. SlOne alKf2lP C J SAN ~Irm c.u.youu lJ'ldlJ-1662 Illy 01 town. ""8 and ZiP ode) 463-.5800 ITelllPhone Number) ISUHi and NYmINI,) SAIl DIEGO. CALlPOJlHIA 92119_1642 (CiIror Town, &ale.... z.p ecxs...J 16141 -"-' L"'_~Ann l~tMnbef) Annual Statement Contact Person and Phone Number '!'FD I' "'T1I!'I'''C OFFICERS" l ~~".~"::SALES BRIAN PAUl. CHANRF.I~ . DAVID WILLUH WlnlNGTOH VIce-Presidents .--'IUIWI'r P.UL "."".... flU IDWIM WILKINS ClYn.. .......,. III ALLlN AMHt:W Bruen unl~ 11I1l1NIiIV ItTPIII'. President_--'lIc.II6A..WJ...am_...._ Secretary: !.A...y aDI!: Nun Treasurer --IoISllY. -"tllI ..... CO&HILIUS PElT POILLON DIRECTORS OR TRUSTEES"wILL.... mER ........ __I!IP"~kEW. JAHES _~.~__~_!...J~~9 JOHN COlICIDWf MABEl. CHAIRMAN __~.y GElfI MABEE __tH.!.~I:!L~"AID StaIeGl.....W\l.tFOMU................} Coun1~GI ...m.Qu:QQ::.............. " ... .tllCII4.U. .UIQ. .J6H&S............. Pr...... ... .LAa&Y. aEIII.....I&.................. SecItUIy. ..... .L&Qy .GEIII.Mo\IIi:I...... .... .....;. 'Iiusur,,' oa . ~EH.UCJ..E .INSUIWICI. COKPAIIY Iltfng....., WIllnI, ... 101 himlllliIpoIIIlIld up.... _1rI....1IIM lIOICfillll aIIiArs 111l1li uId mur.. aDd ltIaIon UlI .... ...~.,~.. ..... dQ uf . H4ICJI. 19 ....... Ill.... hIfIiA dllCliIlId...... ""'lhIlIllCliM pr__ . ..1IllI...... IfNIIllI cIIIr....aar IiIAI orcliMms UlefIGfl. tuplu....tin sIaItd. and IbaI IhiSIlIIItmInI Is a IuI and If.. iIaIImIAIuf a111h1 U51tsand IiIIliIiIiaWllllllllllCOlldi&ialIllllIlllifl""'IIid...._ ulll UlI ......~,$'J'.....1IIr III ...~tI......19 U..IIldGlilllncomtanddlduc&iDflll1llr.ltomfor........1....... 1CCOf_1O....lltIIoIlIlIif illormalion.koclwIIdgtandblli8l.r~. SubICribed and 5WOfn 10 bllore me 1M .i!.J&....,.. ~,.i'i;.9.. ...~tl..I>;I/;UM.....!. ~' ~'-"I'~ SlY..lJj"'Ilt:~U \\'>!~~I""''''''''Cc......._ -....::~V-S...."UIillCOUll" ~~~.I""."."('f.I.I'l)O . ............PttSidlnl .....................Secitlir' ..................rfllSlI'... .OI..(\f(..~llo.II111inl1 1'0":\(111 h1~inG .'tIMl)' .\Ilhf 3rNIIIllI~ and lin.locts ollhe insurer ,,, , II , '11.,.,""'" '1,1".,ul 2 STATEMENT AS Of . JWtC.tt .3l~. .1989 ,...., .OFTHE . .COLDDI. EAGLE .IHSUl.UlCE .CDHl!AIrlY.'........ tllilulIll ANALYSIS OF ASSETS LO\IyIrAslieIS , -'-- bClnutMollNC IllfMlUlllllld. ...-..... , Assett.....A4AliIlcd """18 fKnS'" IIuIIII. ... .... lor AfllQllu_1IYiIlIIsJ . . ~nlDllS'fulflllJny 1kccl1llla3I,19.aa.. NIlAdlnilWdAulb tColl.h.2-3, 1. Bonds ................ ........ ............... .....lU.l.17.56Z. .............. .... .........."........ ....1.l.771...$.~.... .....~~,~.~~,J.8.~... 2. S&ockI: 2.1 Pr*lltdslocks .. ......................... ......:l2.s'QO.QQO.. .............. .... .................... ...U.'OA.OOCJ.... ......17,1.QO.0tl0... 2.2 Conwon $IOCU . '........, ..............,....... ...il,l!I7.127.. .. ...... ............. ...... 368.'5.3.... .....9.62i.27..... ..... ....UQ.7ll... 3. Monllaue loans on real CSWI la)fUstliens ...... ... ...... ..... .............. ...Z'.',95.2.U.. ................... .................... ...2.4.".s..U2..... .....26.9.Ql.1lU... IblOlhlulhanlif$lliefls ....... .. ......... ......,.. ........... ..,,, ................... .................... ................... ..................... 4. fkiMf:ilidlt: 41 PropllrlllSGetvpiedbyltloalrllpan>>, tlm$ ...':"'A-:.....encumllrallUS) ... ........... .......2:.3.91.U3.. ................... ........... ........ .....t.'91..223............2.U5.0B.9... 4.20Ul1rPfGpdl'aieltlass$...........lflCUmIlriDQls) ..........,......... .,.......,."...... ..,........ ..,..... ..".........,...... .,.........,...",.. 5. CoIIakfillOiloS........,.................... .........,....,......,., ..........,........ ........,...,....", ".....,...,....... ....,......."....... 6.1 Cisftonlli6ndandondltpG5il: talCa5hinCOlTilllllY'sollicl........... ...... ..... .............,JAQ.. ................,.. .................... 1.)_......................... ....... ... .......4~,i%3,111.. ................... .................... 6.2 ShorI'lIfmOwsllIIlfllS ,.......................... ......,37.8.93.6.lO,. ,.................. .................... 7. llahefinwltlldas50llls ................................... ............. ................... ...........,........ ........".......... ,................... 8. AQQre:gilltewri&ll-iRsklrilwtslidilSSClIS .,.............,...... ",......... ,.,........"...... ...,................ ....,....,..".......,...,.............., Sa. SutlllUs,ti$DandinvtlSlcdasscts(tIemI1108) ......... .~.U.{t,It4.J.U.. ............. ...... ... ....;J,~,,~~J:.... ...252.,l1'.Jl8.... .....22.5.08.5..969... 9. Agent$'biIinQIsGrllrlWllecledpremillms(ne.llSlO lXNMIislionsilrllldiv"'S): 9.1 PremiumSaod agents' tlaIaraIilIl:OIltSI 01 coIIectlonl...OI:UIIl:t~C&!dId'eiR$w"illlClllalince$ PIVilbII 01 S .~.7..l){t1l...4'... .... ... ....... ... ..) .... ..lO.AU.".2.l.. ,. ....... ...,., .... .. ..,4,t,U.614.... ... U.881.903.., ....... J.5.61.2.913.... 9.2"''''Wums....s'balincesandifls1llillfllllll$ bOllbdllll6d1ltflllllilfldfllllylll..tilllllfdllllucting talWrein$urilRQl biliulClSpayaWeW S.. ....0.... ..,) ... ...U.Da5.9.1l3. ................... .....,.............. . ..13.00"..983. .....,...lQ.:ltJ....1.... 9.3Al:aue4rllrosp8dive premiums ...............,. ........".,......,. ...........,.,... ."",......,.,..,.. ..,.".,.......",.. .,..".....,........ 10. flllldslleldbyordeposilidwiltl,liIlsuredcompanie$ ..,...........(.U.U.$). ..,.............. .......,............ 11.lWIs'~vaIlIe.taIlenIorPflrniums........".,........."."......"..., ........,."....... ...".....",....... ....".....""..... ...."....,......". 12. Reinsul'anc:e'ealWf_on IctsSlli>>'ments . ...... .... .. ..., ...13.,.'... ....... .., ... ...... ..........,..,. ..... .......331.16....... .....,..26A.031". 13.FlllAeralirlcoRllllilllretO\lllallll,.................... ..,..,.............. .........,..,...... .,..,.........,..... ................,... ......,............. 14. ElrlckOlliCdiIIIiII prOCmingequiplllllfll................. ......... JA1.06.6.. ........... .....,.. ....... ............. .......762..066.... .. .......77.4..111." 15. IIIktresl.di'lidendsand,ea&tilaleilltomeduulldllCtfUII .................... ....,...UJ.,.Il..... ...,................ .....3..I);I...n...... ......2.605..lIa... 16. Rec8ivaIlIrllromparlfll.lIlDsidiarilsandallilYlts ................,...,...... ................... .......,............ ............,....... ..,..,........,...,. 17. Equiliesanddeposilsinp0a6Sarldassocialion$....... ...........,......... ..............,.." ....,............... ,.......................".......,....... 11. AmlMrlIsfeceiVibll.elaliRglOllRlIlSWedacdGonl IIIlItleillhplillns ................................."..............,. ..........,........ ..,............,.... ................,..........,...,......... 19.0Itllr'aI1IIlIs: 19.1 EquiprneftI.lllrllilureandS4lpplies ........................JI4.62.5.. ................... .......7&4,625.... 19.2 BiIIs.IICllittaIlIe. IlllIliIIIRlorpremiums ....,.... ...... ....... ....... . .., ... .... .....,.. . ..........,. ... .... 19.3LoansonpersoAjllSllCUfit>>',lrIlklrscd0f"1lllI.........".............". ........,.,.,.,.... .,..,............... 20. AggreplltWfiW-inslllflll/lefUllllinveSllldassets ....... 21. TOTALS ............300..... ... AZ.923..121",.. ".17.,.91.610.... ..........".300... .....51.6A.2.820." ..... .24.JAJ.150,.. ..... ..(U.855)............ .IU.3,a... 829 157 ....M!I~~L.... ......~XJ.~~~..... .... U~ ~M............ .~XJ.~X~..... .... M!I ~~L.......... .llXMX~..... _21686' 182 388 612.'9" 21'.692.235 DaMS Of WNTE.'" AGGREGAtED AT IlEM.,OR INVEITED AllER :I 153 58' 6 380 796 283 465 02S 254 584 149 0801. .. .. .. .. .. 08112. .. ...,. ... a ... & .. .. .. ...... .. .. .. ..... .. ..... s..m..,oI '''-'' wrillt.ifls ....,.... 8 >om UVIll'lIcrwpage...... .. ..". TOTAlS tltems 0801 ,." .... "... ....) I.... 2. ,.... 8, DaMS Of WRlTE.1NS AGGREGATED AT lTEllII fOR OTlffR TItAN ItilVESTEO ASSfTS 200" , .. wnw. .4UVAHCES. . . ............. ...... .........~IO,llQQ.. .................... ....,...........,... .......1Ia.ooo..... ......,,11.i.000'... ..... .. . At:CQUIftS.tw:EIVAIII..I. .. .... ..... ..,... ...........,2,~Q4.. .................... .................... ......... .z.~Oft..... ..........J..3IU'-.., 2003. .. .Mn:QHLJAU..t::a. .............. ...... .......,.:14..9.15.. ..........",....... .. ...,.~..915.... .................... ,..........,........ ..... .. ,t-wt:UW.o.WfWYJ;JtI:ND... .... ..... .. .........J.:tO.JA.... .......",......... ....,. .UQ,3U.... ........".......... .........,.......... ...... ....Nl.Y.ItIIICKll................................ .........lll.&l.SQ.. .........,.......... .......ll2.!I~l.... ............659..... .................... 2091. SwnrIlill"Y oI"l~ WfIle'IIIS lor Item 20 110m ........ - . . . . . . . . . .. ................. .................... .."........... ... ..,................. .................... ..... TOTALS IIIltlllS '2t:iOi a.i;~ 2005'~;,s '_, Il'iIQII2.1tll111201 829.157 612.294 216.163 182.388 .IAtIudIsS.............. ..lIIWSlIIlIIlIsInPillfenl,li&IbsldiarlftS.anclalliIiiI&n STATEIIWtTASOF ..... ..~.~.n..._?!I~.......... OFTHE ............~~~.~J..~.JJf~11JMCj,.~~........ ,0..., jlWao, 3 LIABiliTIES. SURPLUS AND OTHER FUNDS Currentf'lriocl PrllliouS Year Ending ~31.19&8.... I. Lo....(......_""1.3~.OI...~"... ...).... ...... ........................... ........IU.W..U.......... .........HO.IAI.OM.......... Ii. RiliosufiACtlll"llIIpaIlIliDiMS .."" ............ ......,..,..... ................. ................................ ................................. 2. ............._ ............................ ............. ................. .. ...........30.303..110......... ...".....~,.0'~.3~L""". 3.ConIingIlnI~....0ItlIrIimilalchat""......................................"..,........."..,..,...........................,............. 4. OlhlfupllllSl5(ududlngIauS.liceDsnllllllldt5) .................... ...... ..%.,014991......... ............t.Ufl.n:l......... 5. T.>>t.ls.IIctlRsesIAdIlls(IIduGIng...iliAdtor.incoIAI....... ..... ... .... .... ... ... .... ... ,..............5.2..20.. ... ..... ..............21Q..!t.L ...... ... e. ~llMIkNIign 1nI:vmIIIlIIIIIICIUlIiItlllIII""tIllaltll) ... .... .." .... .... ...... .... ....... ... .........1,0:.1...... .... ... ............ .l)M,UJJt) ........, 1.BorrIlllflld~ ............................................................................................................................... 8. IAblrlst.IlIdudiRg$... ...... ..... ... .... ..... on IKNrDWldmlllllJ' .......................... ................ .......... ..... .............................. ... 9. UlWifIlld pi'1lfhlWUlI ......................................................... .......... .11...9.6...14%......... .......... .~l ,~AA,J!oP.... ....... 10. Divillllllhickclafeclandunpltid: Ii) SIOCkhoIden ................ ... .............. .. ...... .., .........."........ ............... ............ ."............................. tD) ~$ ...........,.....".."." ................................... ............4,3:16...050.... ... ............4.2A8.SSJ.......... 11. fUlldsIllldIlyCCllllJlilllWundlfflinswincllflltlils...... .................. ................... ............. ............. ................................. 12. AmlIuIMliWldlhtlldOfrll&aifllldb)t~lOfatCOllPlOlOlblfs.., ......,.."."."..,.............".................. "............'''-II.'JA......... 13a. lJnuitIMd llf_nillfM on reiRswanc:e in unawhlNiztM1 companieS .$ .18.643.. ...... ......... 13D. ReilIS&lfOllICl on paid ms.s $ . .259.490. ... lIIld OIl unpaid ItIflOfklclkl",li$ ..18.68'.S45i11l1C111iacufrIllDulnolrtlpol~ ilUIs$.l.l05.24o:cowu_lrOOluna.athurI.lIdCOlllpallieS ....$ .26.6.5J.294....... .. ... 13c:.P'o6idillldlll_iIIIocillld"'s~llXJIIIlsn nU:ClWlallle Illl'" Ufwu.honzed toInpa1l1l1S .......... .......$.... .10.114 .. ... ... lJd.Lt::iSIUl.IIUldClf"IaIOllCI"'eGI~IOfaccounICllsuch U1lO111l11l1riUdtolOJ*lll:S ... ...... .. ... .. ...... .$ l6.1Ill.66.Z .. ... ...... 14. f1evtWonkllllllilUlIlllIilcxIlllinsuriIIICI th1lm:i13il... 131l... 13c - 13d) .........................,.. .., "...... .... ...... .,.............593.~84......... ..............'93.18............ 15. EM:d5 0I51a1u1CNy IISIIwa 0WIf Slallmenl rlSllfVllS .......................................... ............................... ................................. 16. ,...~l$ifIi:iSlll5MK1..lIISduelGklIllignlllChange..IIS........................................................ ................................. 11. Dr...I'OIdStUldiIIQ......................... ......... ...... ............ ............ ................. ............. ................................. 1I1.~IOpi&fenl,lllbsidiaIiesilldilliliales.........................................................,.......................................,........... 19. Pa,..aaktlur 58CIlI'''s .......................... ...... ...... ...... ...... ............................... ................................. 20. 1.iiMI.IOfamlllltll:ihlldlllldlflllinsurldacciduftlillldhoa/lllplans ...... ...................................................... ................................. ~~: =~~-;:15~=21) ....... :::::::::.::: :::::::::':::::::::::::::::::::. 16 20 62 n 23. A4N1",* WlI&I-m IOf 5I*CiM SIlfplu5ll111d1 .................. .............................................................. ................................. 2ol1.. Ci.MIIIIMlA I:OlpiliII ~ ......... ........................................ ............. ........... .1..301.000......... .......... .l.JO.2..00Q.......... 248.PI_llIlIcapiaill5WlCk .......................... ................. ............................ .. .......... .. ...... ............ ......... 24C. AINIIlIIi&I.....'lhS IOfCllilllflhan SfllCiilSIlfllItlslUllds ...... .............................. ................ ............... ................................. 2M. G1OliSp;tidIllRCOIIUlbuledlldpluS .. ...... .................................. .. ..... ......... .51..1104.2.68. ..... .... ....5.2.301.268. .. 2sB. U1loi15liiQnedfUllll5t$lolIpIus) ... .. ......................................... ............ .. .........2..7.42.1.22......... ... ......(2.6511.....6).......... ~.Lll~li..Ilir.;lIl'SKIl:t..aICUli8 ... ........................................ ....... 11) ..............,.....5IIiII'II5tCl1JVAOfllvalulincllldedinillm24A$ ................. ..1 ................................ ................................ (2) SllMI5pr1klned(Viluelnclullllllln_248$ ...................) 21. S61"*"asllgifds;~'llllllh5231G258.IIu25C) ..... ... ....................... 21. TOTALS 2H) 46S 025 OE'WLS Of WfUTE..... AGGREGATED AT ITEM 21 FOR UAAITlES 2101. ..... ..... ... .. ..... .. ..... .............,...... ... ................... 2102. ... ... ... ... ....... ...... ... .... ... .... ....... ... ... .......... ... .. .... ... 2103. ... ... ... ... ... ... ,... .. ... ... .... ... ...... .... .... ... ........... ............ 2104. .. .. ... .. ........ ... .... ... .. ... ... .. ... ... .... ... ... ......... ...... 21oe.. .. ................ .. ... ..... ...... ................ ................ .. 21911. SUmmaly af renwinill\l WIiY-ins IlIr 118m 2. kOlA QVtlflklw page ............... ... ...... 2199. TOTALS t11l1111$ 21011tllu 2105 plus 219111 (Pial 3. hI:m 211 DlTAU.S Of WfUTE.1MS AGGafGATfO AT ITEM 23 fOIl SPECIAl. SURfIUIS FUttOS 2301. .... ................ ...... ................ ......................, ....... ............................ .. ................... ....... 2302. ............ ........... ..... .............. ................ .... .................. ........... ................................ 230J. ... ...... ...... .................... ................... ..... ................ .............0...1............ .............O.K.I............. :rJ04. ....... ..... ...... ......... ... ......................... ... ..... ........ ...................,........... ........... ..................... 23QS. ............................... .......... .......... ......... ............. .. .... ........... ...... ..... ...... ... ..................... 2391i. Summir, Ill,.QiIiIiing Mite-ins 101 111m 23lram Olfllfllllw page ............................... ............................... ................................. 2'J99. TOTAlS tlllHAS 23011IW1I2305 plus 23981 (P'. 3. him 23) .............Q..L......................~.~H.E............ '::::::::::::':::::::::.'::':::.:"':::::::::::'::::'::::::::::: I DErAILS OF WRITE..... ,,"REGAUD AT IfEM24C fOR OTttER THAN SPECIAL SlltrWS fUIIO$ 24COI. .......... ..... .... ..... .. ............ .......................... 24C02. .. .... ... ... ... ... .. ... ... ... .... ... ... .. ... ... ... .. .... ... ... ... ... 24C03. .. ... ... .. ... .. .. ...... ... ...... ...... ... ..,.. ....... .. ... ...... 24COo1. .................................. .............,.. ......................,...... 24C05. ....... ... .......... ....., ,... .... ...... ... ... ....... ... ....... ... ... ... 2~C98.S61l1l11111yal'emanngWfilHlslofll.m24C1Iom0Wf1low... ................... ...... .. 24C99. TOTALS tlt1rn5 2<lCOlltllu 24C05 piuS 24C91) (Pagl3. IIam 24C) ...........H~..~.......................K4.~&............ 'r ,-, l~'''' STATEMENT OF INCOME UNDERWRITING INCOME 1 CuJ'IllI"'iod "".... 2 ..... ""' _lOCi.. 3 PllYiGllI~EllIIing DanIllllf11,li.8ti.. 1. PromiumsUlllllt A.. Dil'ecI(WfiIIIA S .63.634.159...... J ...............................................,.......... ....59,.036,5&4..........".. ....... . ..... ........ .............. .. c:..... (....... $ .10.,61,0.2.16......1 .........,..............,.,........."".................. .... .lU,.684.141 .. ...... ........... ..... ... .................... ~=';~,,:.964..S43.:....::j '.: J.:::: ::::::::::::::::::.::::::':::::::::::::::::: :::::::: ::: :4i~J52;44i:: ::::1:i:l;7~s;:i: : :::: j;;:~'.:i:'~q::::::: DEllUClltWS: 2. LoacsiacutJld (CWIIAIKCidllll:fIil". .25..21.4.017.....): A. OiJea ....................... .".. .......... ..........."................... ...........,.. ......... ..30,"'6.7S1.. ..... "........ .... ........... ...... ........... ~: ~.::::::::::::::::::::::: ::::::::::::::::::: ::::: :::: :::::: :::::::::: ::::::::::::::: :::: ::::::~~~~~~~~:~:: :: ::::::::::::::::: :: ::::::: ::::::::::::::::::: 0.... .......................................................................................... .....24...56.010.. ....16.ao5.4U. .........I..N.ca........ 3. LoIs........inl:uJfelI ....................... .................................................... ......5...."'.1502.. ......3.247...1..5. ........1>>..2J.Q..i5(j,....... ... OIw.......ilInIIlIIpIlIMIilcurfld ......... ....................................................... .....12..591."'..5.. ........2'9...9... ........J1...6.4.lCIO....... 5. Au\lItgilI.......... ........-........ ......................................................... ......... iQ~.."Ri. . .......oi.... ',' ......Ii. ............ -............... Ii. ...1lIIllIf.....MIwaiGft5I......2I/l1wSj ....................................................... 42 88 8 22 155 '61 524 1. -.a........_pnurtllllif;llIlIlIlll\ll1U1'1................... ..................................... ......5..4'..7.1... ..... .5.315..011 .........l.H!I.~,i'J........ INVESTMENT INCOME .. Nlll:lIlVIWMflIincaaUlIllld .... ................................................................. .......4..6!!.!~!.. ................... ........U..o~~.~~........ ,. ....'IiIiult........(klUISI.................................................................. M. ....................lllQIfflll ....................................................................... ..........,~.\tJ.~.. .....,..... ....... ........................... 911. NlIIIWhlIOIAI giIlIQf 11Gss) lurns' ... , - 9A,I ................................... ....................,..... .4...4)1I..(I~.'t.. ..... ,~,!\,.",".ti. .... ....u..Oft.!t.UO. .....: OTHER INCOME 10. NIl piA. (IltsI) lt1lm..... Of.............. _lI'lIllf 1UIuAI........ .....""O'-'.........ilIIOIIIII-.'..hU .~.....S1..:....1 ................. .......(42.,1$1). .............(305) ........U..4"~,~U)...... 11. finlnl:l...SlnliclcIlII......irII:IuIIIlIillpI'......................."................................. ................... ................................................ 12. ......WII....,.IIIiIcIIaAIouI~ ............................................................ 13. .....iAcoIIltl....I.........:t) ........................................................... 1.....__..............1ll~5illl11111ar.....a1JAd......iIcoAlIIIaII1lllnl1.......13)...... HA.lIIwilIIAdlIi.~.......................................................................... 1-11. ......................~IIwIIlIkwt.....IIlilIIon~iIcGlllIluIIllIIIIl..Minr414A) .,...... IS. ,lIlrIalaJIIIl........ ",,-lMdkll:ul.1lI ..................... ...... ........... ...... .................. Iii. Mdllll:lilll..t.....I48...1IIS15111l1..1IJ ........................"...........................".... . . ......9...1.1..,531.. 1 4 4 2 I .. ,...1.811..112. . ...... .1~.U."'.~HS....... ............." 3 060 211 .... ....~4..3.061.. . ,. ,. "$'926. .. ......1~.~~.3.~~:. ,... ,. I, M6 ~l 2 'i840)4 CAPITAL AND SURPLUS ACCOUNT 11. SlIfpkll;as'.dSpgIiC:yhl;IIdal.0Ic:IAlbIlI3Ip1'lViOYswur ..............,.,.....................,....,.. 50 952 082 18 III 294 18 111 294 GAINS AND (LOSSES) IN SURPWS 11. liIIifll:llrAIllnlnl~R 16).. .... .................................,................................. .....,.+9.1.786.. ."...3.908..341. .......,,~.$.~.Q~....... II. N11I1M1illtl1l1Ci1liW......_.. ,......................... ,.. ..... .... ...... ,. ..,.... ........... ... ,.....303..3.10. .........121..67.Z, ,........... ~~.:I.,\.tl.... ,.. 20. Clllnuril__.....~.................................................""................. ,...".... .151,2.12.. .. ,... .(.161..616) ...... ..'~.'.l",.lJ;!:>'." ,. 21. ~i11IY1li11trIrillWflMlllDfUedI-....na. ...........................,.."................"..,..... ......"............ ....""........... .....,...,,()~~,.l.".l..... 22. CIwIllIIIll.....lIlI1:IliIngIl................................ ,......... ........ ..... ,............. ... ,....... ..... .... ..... ,. ,..... ...... ... ........ ......... ........ 23. OlarIlllIlUCtlH.I&iIuiIf.,'nellllISM'IIiMlIllIflI,1SIfWS ......,...................................... .,.,............... .,.,............... ............................ 24. ea,..wCllloglt.: ~~..................................................,........................,.................,.,...,............"..,......................,.,.,.,., IDllfilMler'lIIllrllfllSllfplusISlDdlOlvd.).........................................................................,......................,...............,.,...,...... (C)1lin:itIfflfflD$llfplus..........................",....................""..............."..."............." ..,...................."".................... 25. s.u-p/llI .........: ~ f'lIIlI iR ................................................................................... ........ .600.0lIO. .........$OCI..OQO. . ...... .1~.0AQ.m....... IItllfilllM'.IOCipIIaIISlOct.Dwd.1 ........ .......,...,....................................... ...,.,.............. ....,..,.,......... ...............,......,..... (l:)lf.......llfIIlflMCIfIiIlII ...................................................."",...... .................,. .............................................. 2I......_lKlAIllfllll)HuallOIM:e................................"."................................................""......................"....,.....".... 21.~IlI~llculll................................................................................."...................,....,........................... 21. a.-.._Ituluf,1IuCII ........................................,......".."...................... ..................,. ................... ......".................... 2!1. ~.,--..b.....kIfpl'illf1lli'l..................................."".................". ..".............., ..............'62. 311. Awr..........IrlfUlils....IllIIII.lUfp/lll ................,........ .....................,....... 31. l:IwAgIiII..........~I.....I.1IIolIgIl3ll1....................,"".................. :Q. s.u-.....................Ilf"*""IIC1oll1IIIlflllU......31) ............""..................." 56.948.3'0 42.48U.124 ....".......'...462....... 12 840 1118 50952082 DffAILS OF WfUTE-UIS AGGREGATED AT ITfIII FOR UNOEIIWIUTIMG IIlDUCTIONS 0501. ... ... ......... .. .... ... ... ... .. ,.. ... ... ...... .......... ...... ".. .......... ,.. ...,............. ...........,..... ......,....,..,.......... 0b0Z. ... ....,.....,............ ... ,.........,.. ,.. ,... ,..................,........ .... ...... ".....,....... ................. ...................,..... 0503. .. ...................,.. ...... .. .............,........,...........,......,..". ,..H..O.lLa,..., ,....0...&..... ...,.."...0.....1........ _. ......................................................................................................................................... ~. .......,..,...................................,...............,..,............... ..,..........,.....................................,........ (bY. Summatyol rtIlIllining wrile1ts lllf tllIm 5 from overllgw page ..."..................,........ ................. .............. ..,...,................. D!i99. TOTALS IIIIfIIS 05011hfu 0505 p/UlI 05911 (Pagl4. 111m 5) DETAILI OF WRITHltS AGWGATEO AT ITEII12 fOR IIISCELUNfOUS INCOME 1201. .. ... ,.. ... ... .,. .... ... ... ,.. ... .. ...... ... ,. ,.. "..... ,.. ............., .. "............. .....,........... ... ........ ,.......,..... 1202, .............. .... '" " .. .............".... .."".. "....................." ................, ................. ...... ,.................. 1203. ......,..,..,..............,...,..,..,.....................,.."..,..,.....,........... Ii .0,1. .I..... ... ..0.1l.1.,.. ....... .11.0. ..1........ 12tH. ... ........ ........... ......... ... ...,..............................,..,................ ...,........... .......,.. ,..."....... 1:r06. .........,..". ...................... ,. ,. ,..................,........"................"..,...... '.........,....., ".....,................ 12911.~oIrIflliiniAgWl'ile-lftsIol"tl8m12IromavertlDw_......,.........,..................,..,..................,...,..,............................ 129!1. TOTAlS llllms 12011h1u 1205 plus 1291) lPage 4. him 12) DnAILI Of WIUTt.... AGGREGATED AllUM 31 fOR GAUlII AND LUlEIIIIII&IRPLUI 3001. JlJU2. 3003. 3llOl. .........,..,...,.. ............,......". ,. ,...........,..... ................,. ,..............., ..,.............. ......................... ........ ,.. ...,............ ..........., ,.."..........'......,...,..,..,..,...............,...... ...... .......... ,......."............... .... ................... ...... ......... ..... ...................."....... " ...0....1..... .....o...!... ........J1.0.Jf.~........ IIMI:' STATEMENTASDf ..... ..lIAR.CU.3L..19.09... ...... Of THE ............... COLDEN.EACLE.INSUIAKCE.CONlAtl1....................... ~ .0.., ~I CASH FLOW 1 Curl'llllFwioi ......- 1. ,..-.-coIIeclldllltah......IllGI................... .................................... ... .....52..1.1.1.1...... 2. LonMlllDllalfiul....lllpMMIpMllllII.uloguftllll&lbrotililln)..................................... ..l~.;I.u.n.J. ..... 3. UlIlIIrwfIUIguplllMl_ ....... .:. ........ ........................ .............. ....... '. ........'~.!t.l.~.~~.~..... 4. OUIIr....................I.........J......................................................... S. CUtl_.............,....1...21liftu1_3pkl1I11lR4)............................... ........ ~".7M.)OD..... I. ."",.'.."...UnCOlllt(llII.IAvIIUAInI........) .... ..... ..... ... ...... ..... ... ... ... ............ ... ..... ..3.'.l4.~A1. .... 1. 0IIIf1ncCllM(..,.......) ..................... ................ .......................... ............. ........... .. OiWdIIdIID~lpaId.................... .......................................... .........1.1~2..0.'....... 9. FtdItal....u.estpaidl.ICClVICId.. ...... ........ ...... ..... ... ... ......... ........ ... .... 2 -..... ElKlingDKembel31.1..... .. ....11O.6n.lGs.. .... .......AA.UP..!lU...... .......16..731..$U...... .......9$.103..597...... .......10.1:101.622...... .......U.4\il1t...UJ)..... ...... ...1.6111...159...... 111 Oil illP Q. NelC11bIrClflloperilionsII1llll5pNII1Inil6p1usl......7rninulllem.pWsl....') ...... ..... ..... .......... ....~1.U.a.85a...... ..... ..90.057...448...... I. I'JClCIIdS IIClflI iDvIsUnMlI SIlId. IllIklfli III rapaid: 11.1 80Ads .................................... ...................................... ..........1.~,~~.~4~~~..... 11.2 SIIlCIlI...................................................... .............. ....... ... .... ......lJ....O.l..... 11.3 u.ne.1DiAI.... .............................. ..... ........................ ..... .. ....... ...712.6'&..... 11.4 RIal.............................................................................. .......................... ......................... 11.5 ColIiIwilllllcll................................................ ..................... .......................... ......................... 11.6 0UlIt1lvll1ld1Sllb ............... .......................... ....................... ... ................... .... ....... .................. 11.7 Nllgain1or(k>>sses)OlIcasbandsbllrl...mlnvtslments .................................... .......................... ......................... 1I..M1lC1l11Q1Cll1lptClC11d1............................................................... 11.9 ,..IAva.....piOCMCII(IIImII1.1UW11.11.. ............ ......... ................... . ..... ..~~,l,lA.O(l.l. ..... ..... ,,61...225...246...... 1._...._: 12.1 fHlUMlSkII....a1l1111111................... ........................................ .......................... ......................... 12.2 IkwrowedNndlllCllvlcl......................................................................................... ......................... 12.3~jtiIcIln.......................................................................................................................... 12.4 SUfJlIulplldlll ..................................................................... .............0A.04)Q..... .......16...000.000...... 12.501A11l101lfCII....................................................................... lUTll&illlllllfcasbprclll6dM(I.....12.11hfuIU)............................................. 3. 'aaaI(.1lIlD 10_1... 11.9 pIuI I... 12.1) ................................................... ........ D. 7%.fl..:U...... ..... .141...l83.J.!I4...... 4. CulalilwalJReRtUCquilllI(Illng'IImaIllll>>'): 14.1 IkrAds .......................................;....................'...-;.;....-..........-..-.... ...'......:J.l.'a.l."l';.-....... 14.2 StllCkI. ..... ... ... ..... ........ ........... ........ ..... ........ ....... ... ... ... .......... ...14,\il0J'.3........ 14.3 Wof1gIgItoanI................................................................................~I'{tA.t......... 14.4R1i1ts1i11.......................................................................... ......................... 14.5 ~...... .. ............ ... ....... ... ........ .... ..... ........... ........... ... ..... ..... ................ ......................... 14.6011.....6AvIIIId1lllll........................................................................................... ......................... 14.7 YbcllanlDulWiICI1Ion1 ............................................................. 14.' ,....,....acqulred(......14.1 U1fuI4.7) ................................................. ..!t.~.'1.2..0"...... .. ....146.026.1$9...... $.-....- 15.I~to~.paIcI............................................................................................................. lS.2 NtIIuansllrs..alWla&ll......................................................................................... ......................... 15:3 Oon'OWItCIIuIds'lpiid ......... ... ...... ... ... ...... ....... ... ........ ........ ... ........ ... ..... ..... ... ....... ........;.~.~~.:~-.:.. .... IS.4 OlbeIappIiciIiuRS .................................................................... 32.029 lU TClCiIIOIIWCilsi......dlIIlml15.1I11rul~.4)............... .............................. 324024 I. TlIIiIlI...IUplulIIllll15.~)............................... .............................. 49296 1NI4 7. NlldlangelnWhilWllllal1......InvIstmIftIS(II_13I1li1MllelIIl.l. ..... ... ........ ..... ... ...... ...... ....h~;lP...l.1... ... .~~ RECONCILIATION .......I~.IOI.m. ..... .......11.1_...... ........1..1UI...a.U...... ......;..4...014.2.81:...... .......43...888.6.21...... .......11...7.06.6.21...... ...........4.1..6.24...... 4 ]22400 '10;.0 . ... ...(J.UM.3~)..... .. CalbanilhUft'lIrlllnvu1JMnl$: ".1 8IgYlnIng1lf..... ..::. ..... ... .... ... ... ........... ..... ....... ... ..... ..... ..... .. ... ..1,i.3.l..270...... .. ... ..19.45.1..6>>...... 18.2 ERdDI~(1....17p1USIItm 1..11............................. ........................ ...... ..0,811..037...... ......1..'J.6,.271l...... SCHEDULE VII LOSS EXPERIENCE Cf 1 2 3 4 Dirtc:l Premiums Dil'lIClloSS81 DilllCt PriorlwtoDiIl Earned locUlr.d LDIIf'lrClQlagl DifedLost PefCllltlQl I. ... .................................................. ............U1.1~~..... ...............I..IlOll...... ..................L....... .............~l..L.... ~: :-mo: "".' :::::::::: :::::: ::::::::::::::: ::: ::::::::: ~:i.:~::::"" .:::::::: :::::: j~iQ4: :::::: : ::::::: :::::::i::~: ::::: ::: :: :::: ::::::::ij~o::: :::: 4. ..........IlIIlIIipII!IId .............................. .........,... ~)..Q41...... .. .4.5:.l.1$....... ......" ..... .....\...."... ......"... ...~"O....... 5. tGnIuIIrcial MUIlipII...1t ............................... ........J.7.,O.lU..l3....... ..........4....54~.'1.Q....... ..............:1:6..7.......... ..............n.'....... ~ =:: ::::::::::: :::::::::::::::: ::::::::::::: ::: ::: ::::i;J~:~:::::::: :: :::::: ::: :Ai:i~;.i::::::: ::::::: :::::: :i.:1 :::: ::::: ::::: ::::: :::j~~.:: ::::: 10. fllYllGlllflllll'......................,.............................................. ............................. ...................................................... 11.YealcaI~.................................................................................................................................................. 12. "'_ ............................................ .............46.119....... ...............I.JlOQ...... ...............%.1......... .............~3.L.... 13. Gll\I4lalll:lllllliAlllllillA............................... ....................................,........................................................................... 14. C.llIIIacCIlllIQIllllIlINIA......................................................................................... ...................................................... Ifl. OlherICCidlllll...huIUl............................................................................................................................................... 16. WDr.".. ~ ................................. ........2.1.0l4..961.....................5.3..,"....... ............."..l......... ..............11......... 11. 0IIlw IillIlIMf ......................................... ......... .5."',J.1................ .:1...5'2.61......... ............. '0.2......... ......... .....:14.... ..... Ill. Alllllllilllldr.......................................... .1.)!l1.9$6................ ..J.M9J..Sb.l. ...... .............5...11......... ... ...........iA.._....... 21. AuID_1IilIIIgI ................................... ..........2.IllZ.A4O'...... ......"..J.03!l,04J....... ............l.O$............. ................1.1...... 22. Mcrall(.......)..................................... ."......................... ............................. ............................ ........................., 23. ~ ............................................... ...".......3611.'2........ ..............59,315....... ..............16.'-......... .............21...2...... 24. 5MfIIw .............................................. .1...520.91$....... .......... ..136..111...... ............ ..Z2.1.......... ........ ...... .8..... .... 25. GaiN ................................................ .............$3..15....... ............................ ............................. ......................... :: :..~ ~ ~I ~.: :::::::: :::: :::: :::::::: :::::: :::: :: :::: :::: :::::~~~~~: ::::: ::::::: ::::::::::: :::: ::::::: ::::~::::::::::::::: ::::::: :: ::::::::::::::::::: ::::: 21. c................................................................................ .................................................................................. 21. IIIIlMAalilllllIt.......................................".......................................................... ...................................................... 301\..................................................................................................................................................................... 3OB.~........................................................................................................................................................ 3CIC.RliRwliIIII:t........................."...................................................................................................... ......................... mRlll5wt............................................. ..................................................................................... ................."...... :U. ........llIIlIf.._........ ................ 32. lDIALS Unn oIlk1Ulw 59.036.584 30.846.752 52.J 46.J DfTAlLl-Df WlllE_ AGGREGATED ATIJEII31 :no1. .. .. .. .. .. .. .. .. .. 3102. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 3103. M .0. M .,. .. .. ... 311H. 31115. .. .. .. .. .. .. ... .. 3198. s.m. " rlRliining wrill-im ....... 31 .... -... - .. .. .. .. .. .. 3199. ""'" tl_ 3ltl. lIIru3105 ....31981 (.... 31J 'Sdlillo30llISlfilClMlnl SCHEDULE VIII DIRECT PREMIUMS WRmEN 1 Cw.... o.a.II/ , Cuff",1 .......... 3 PriDrb "'100. 1. ftM ........................ ,......... ........ ..."...., .... ............ .... .121...12.1..... 2. AIliId... ........................ .............. .. .......... ..19...... .............. ............. ........... .......... J. flll..............i1.......................... ... ....2%6...911. ...... .. ....... ...... ..... .....160.652....... 4. ~"""'PIIiI ..... ... ............... ....... ..24.AOIL....... ...... ............ .......... .43.001........ :: =-=..~~i1....::::...:::::::..:::..:..::. .:..:..I'.~~:~;~..:.::. ".:::~:~:~:i .::::::.:: .::::::1~~4~~~~:::: :: I. 1IIIlIlI..... .......... .... .... ...... .......2.~...Y42...... .................................. J..6J.l.toO........ 10. fillaldlil tIIIfIIIIW .......................... ......... ........... ........ .........1\................ .......................... 1I.UIGicII~................................. .................................................... 12. EM..... ...... ................... .. .. .......... ........451..112..... ...C.A."'.V.H.M.......... ...........41,.654 .... 13. G.owpiI:CiCIIRI...__.... .. ...... ........ ......... .......... ............... .............. .......... 14. c..._..~ .... ....... ........ .. ........ ...... .... .. ........ ........... ........................... 16. OII..lICI;;IIIAI....... .........,.. ... ............. ............... ....... .... .............. ...... ................. ........ Ii. WuI"'I'~ ......... ........ ...... ... ........21.901..11510. ..... ............................ ......14.25-1.2.56. ...... I'. 0IlIr....... .. .... .. .... .... .......... 6.2.611.611..... ......... ................ .........1:u&.!ll4........ Ill. AllIe IiilIliIIIr.... ......... .... ....... .......lQ.JJ.3..591........ ........ .. ............ ........1.$5.2.1.lJl....... 21. ~PArL"" ...... .......... ....J.061.~31......... .......... ... ........2..1",..1..,.... 22. AlIcnllliIIPIl'ilI)................... ........... .. .. .. .. .... .. ......................... ...... .. .... l!3. flllllil~ .... ...... .... .. .......... .3'5..044....... ........................... .......... 111.,.506...... 24. Sw~ ............................. .. .... .1..929..318. ........ ......... ...... ...........!lY3...36J ..... 2:1. GIiSI.. .......... .' .. ........ ........ ......nu)...... ........ .............. ................ ......... 2i. IlwllllfJ'lIllIlbIIIl........ .............. ..... .2.400....... .. ........ .......... ........ ....... ....... 21.1IDiIIr1llll~.................... .......... ...................................................... 21.~............................... ....................... ............................................... 29._IUlillluI.. ........ .......... ................ ...... ................ ......................... 3lIA. RIlaSlIIaou' ............ .......... ............. ... ...... .......... .. .. ........ .......... ............... ..... ..... 308.~...................................... .............................................................. :JOe. .....iIllCII. .. .. ...... ...... .......... .... ...... ...... ............... ...... ........................... 3llO.tIIlnwt..' "...... .................... ...................... ............. ............ ...................... .... ;'1. AwIlf1i111wrlll...IatOllllr_........ICU.. .. :12. TOrALS 63.634.159 46.'29.922 DnAILI Of WRITE_ aaGlBATED aT 1JE1131 3101. ....................................... 3102. .... ...... ................ .... ............ ... 3103. ........ ...... .................... .... ....... 3104. ..,.......................................... :1I0~ 11:111 :;11101 '11 1~1Il...1II111 v'lIlu ~I:.I"I d"I'I'1I .................................................... .................................................... ................................M.O.K.S........... .................................................... ...............t.................... ID STATEII.NUSOf ...... ./toIlll'H.ll...lf".... ... .... D'THE ... ......,...... .liOWM.I!AQ1.J.~~SPIWlCJ, ./;QlIj'NrI. .......... 10*1 ......111 SCHEDULE IX - EXHIBIT OF PREMIUMS WRITTEN During Current Year to Date .&OC.ted by Stat.. and Terrltoriel 1 I. "'.. 1'rImIums'Mil.... "'.. ...... Pod ,- ......1 ..... ... . _. ....... 2 , . . ''''. '"I Cllrr..fwiOlll "- ... euffllll .... ........... 1 ...... .... .... .... .iL .. .. .. .. .. .. .. ... .. .. .. .. .. .. .. .. .. .. ..... ... 2 - .. .. ... .AI .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ,. .. .. .. .. .. .. .. .. ... .. .... ... .. .... 3AriiCIRI .. ... .. .. .. .. .. ... ...n... .. ... 1,19.4,165, .. .. .. .. .6..32..856. .. .. .. .. .. .263,918.. ......... .56..28.5. ... . ...... .... .. .. .. .. ...AR ... .. .. .. .. .. .. ... .. .. ... .. .. .. .. .. ... .. .. .. .. .... .. ... .. .. .. .... .. .. .. .. ... ... ... .. . ..... .. .... .. ..CA .'Ell .. .62.U'O.~9... .. .. .",1.91..066.. .. .. .. ..13..111,816.. .. .. .. ...1.S51..4U ... . -... .. .. .. .. .. .. ..co .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .... ... .. .. .. 1 - .. .. .cr .. .. .. .. .. .. .. .. .. .. .. .. .. ... . ....... .. .. .. .. .. .. ... .. .. .. .. .. .. .. .. .. .. .. .. .. ... .. .. .. .. .. . .... - .. ,DC .. .. .. .. .. .." .. ... .. .. .. .. ... .. .. .. .. .. ...... .. .. 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WI - tf 2 63,634.759 Ai .829.922 l3.975 ,744 8.005.700 DIUlU OF WlUTE-INI AIlGIIIllAlIIIlIJ I1h1I1 FOR D_ AUIII !llDI. ... .. .. .. .. .. .. .. .. .. .. .. ... .. .. .. .. .. .. .. .. .. ... .. .. ... .. .. ....... .. .... ... .. !llOZ. .. .. .. .. .. .. .. .. ... .. .. ... .. .. .. .. .. .. ... ..... .. .. .. .. .. ...... .. ... .. ... ... '1113, .. .. .. .. .. .. ... .. .. .. .. .. .. .. ... .. .. .. .. .O.JI.I .. .. ... .. .. .... .. .. .. .. .. ... .. .. .... .. .. ... )104. .... .. .. .. .. ... .. .. .. .. .. .. .. .. .. ... .. .. .. .. .... .. .. .. .. ..... .. .. .... ...... .. ....... .. .. ..... .. .. ... .. .. .. .. .. .. .. .. .. .. .. .. .. ..... .. .. .... .. ... .. .. ......... ...... ... .. .. ....... ....... aNI. "'- . "- .... 101 IClf I_ 51.... -... .... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ... .... .. .. .. .. .. .. .. .. .... .. .. ....... .. .. .. ... .... ..... lO1ALS11lllAiS 010' ........ . !llU)(_IO.LiII51) 'lihl~.ll~"'11lUijl:i 1i1o'","llllij I'UII"W olllII Uo:II.u...:oI1IjI f...~"l ~u Outwtll f'l1:t11llllM$ 01IIII f'l...Ms III "'*'" HIlt UIll " STATE OF CALIFORNIA DEPARTMENT OF INSURANCE , , I, ROlANI GILLESPIE , hereby certify that I am the Insurance Co..issioner of the State of California, and have supervision of Insurance business of said State: and as such Commissioner, further certify that the GOLDEN EAGLE INSURANCE COMPANY a corport100 organized under the laws of the State of California. has h~retofore deposited in this office. in accordance with provisions of SectiOns 940/955 of the Insurance Code of this State, in trust fOf. and fOf the benefit of POLICYHOLDERS IN T1iE UNITED STATES of such company, securities of. the several denominations and descriptions particularly sat forth and dascribed in the within schedules. and that as further provided in said Sections 940/955, said aecurities have been depoaited with the Treasurer of the State of California and remain so deposited. I further certify that said securities are, in my belief, of the full Par Value of ___ ONE MILLION SIXTY FIVE THOUSAND SEVEN IWNDRED NINETY-NINE AND NO/100 IN WITNESS WHEREOF, I have hereunto set .y hand and affixed the seal of my office at the city of San Francisco. California this 31st dey of December, 1987. When Interest Par Value Description of Securities Redeell8ble Rate (Dollars CA _ 1986 Cert. of Participation City of,Big Bear Lake Nonprofit Dev, 08/15/89 5.875% $ 200,000.00 Corp. Great American First Savings Bank 07/22/87 7.327 365,799.00 Evid. of Ownership Home Federal _ College Center Saving 500,000.00 Cert. 07/17/87 7.595 SI,065.799.00 Form SD-l Certifieation of Seeurities on Deposit No. 4614 STATE OF CALIFORNIA DEPARTMENT OF INSURANCE SAN FRANCISCO AMENDED Certificate of Authority THIS IS TO CERTIFY, That, pursuant to the Insurance Code of the State of California, GOLDEN EAGLE INSURANCE COMPANY of SAN DIEGO, CALIFORNIA laws of CALIFORNIA ,organized under the . subject to its Articles of Incorporation or ather fundamental organizational documents, is hereby authorized to transact within this State, subject to all provisions of this Certificate, the following classes of insurance: FIRE, MARINE, SURETY, DISABILITY, PLATE GLASS, LIABILITY, WORKERS' COMPENSATION, COMMON CARRIER LIABILITY, BOILER AND MACHINERY, BURGLARY, CREDIT, SPRINKLER, TEAM AND VEHICLE, AUTOMOBILE, AIRCRAFT and MISCELLANEOUS as such classes are now or may hereafter be defined in the Insurance Laws of the State of CaliforniD. THIS CERTIFICATE is expresslv conditioned upon the holder hereof now and hereafter being in full cornp/iDnce with all, and not in Violation of any, of the app/it:able laws and lawfnl re- quirements made under authority of the laws oj the Slall' of Cali/o"lia as long as such Jaws or fe. quiremenls are in effect and applicable. and a.f suc:h laws aflll rl'quiremt'nls now tire, or may hereafter be changeJ'or amended. . IN WITNESS WHEREOF, effective as of the __ __ 30th__" __ ..dav of -- -- .. __ __ ,.;rAN,l!ARY.. , , .. __ .. " 19 ,8,4. ,I have hereunto set my hand and caused my officitJl seal to be affixed this, , 6,~h davof --", '..,'.." FEBRUA}~Y"." __""", ,,19. 8~,,, Fee $50.00 Ree.No. S8081 Filed 12/30/83 BRUCE BUNNER 'IU"U'41K'I'CQfflmiann BV JOHN J. FABER """'" Certification I, the undersigned Insurance Commissioner of the State of Ca/iforniD, do hereby certify that I haoe co~red the abooe c~ oj CertiJicate oj Authorltv with the duplicate oj orIgll\IJl now on Jlle In mv of. ice, and that the same is a Jull, true, and correct transcript thereoJ, and oj the whole oj said du icate, and said CertiJlcate of Authoritv is now in full force and effect. IN WITNESS WHEREOF,I haoe hereunto set mv hand and caused mjJofflcitJ/.eal to be affixed this 3rd day oJ MARCH 19 89 ROXANI M. GILLESPIE BV Iftlul'll1U"r Conl"'iaion,., 6.-..4[:-'" 11-/ C,,:.u..."!,..... CRISTINA M. CRISOSTOMO Dt>pu" lIOMIe.t. .1~_IMC!l_ ( r_' , Feej12.00., i f. 8 f V r' i.' c CERTIFICATE OF C01PLIANCE 'i1~'........., ~ -f'~:~~ '., I, CRISTINA M. CRISOS'JUoiO, Depllty Insurance <<:amnssl~er.. Of'!'^- ",a 1~'~ State of california, do hereby certify that the 'flit . ~" . .........t'~ .......; ..0'Q~ . . .....j...;.. . ..,."" STATE OF' CALIFORNIA '. DEPAR'lMENT OF INSURANCE S AN FRANC I S C 0 ( , ~. , i,." V r , , ;-~: ". ",,:. '''-'' ' GOWEN EAGLE INSURANCE C01PANY . of San Diego, california, is duly organ~zedunderthelaws Qf the Sj:ate qf California, has, according to its affida~i.t;~li~witl1the:~~~i'r~;';\:s\,! of the insurance laws of this State, and is licensed by this DePartment to '}'/. ;,,'; : ~', '.: \:',:,~~'( :" " issue policies and transact the business of ','i'" FIRE, MARINE, SURETY, DISABILITY, PLATE GWS, LIABILITY, W()R{ERS I C01P~TI~.I.S<l1l'l~<;mlIERLIABIJ;.ITi~i:' BOILER AND MACHINERY, BURGLARY,' CREDIT, SPRIlt{LER, TEAM AND VEHICLE, Atm;MC8ILE,;AIlOW'Tand. insurance. ,'..,..... ."'., ,,--,,'f,:-;':'l':':'> ; ',>\< ,:. ~ '" ).;;,~',' ,:::;~: ."'?i The Certificate of Authority is for ,an.indeiinite term the expiration or termination of the corporate existence thereof. Notwi thstanding t\1e foregoing(. t,\1e suspended, revoked, or surrendered in.thel1WUler IN WI'lNFSS WHEREOF, 1 have hereunto official seal of the Insurance Gommissioner to March, 1989. ,."'..