ESNT
QUARTERLY STATEMENT
OF THE
Agents National Title Insurance Company
TO THE
Insurance Department
OF THE
STATE OF
Missouri
FOR THE QUARTER ENDED
SEPTEMBER 30, 2024
TITLE INSURANCE
2024
.MO
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Agents National Title Insurance Company
ASSETS
Current Statement Date
4
1
2
3
December 31
Net Admitted Assets
Prior Year Net
Assets
Nonadmitted Assets
(Cols. 1 - 2)
Admitted Assets
1.
Bonds
................. 63,540,575
...................................
.................
63,540,575
................. 65,639,429
2.
Stocks:
2.1 Preferred stocks
0
...................................
.................................
0
.................................0
2.2 Common stocks
100,740
...................................
......................
100,740
........................ 30,500
3. Mortgage loans on real estate:
3.1 First liens
0
...................................
0
0
3.2 Other than first liens
6,126
6,126
0
0
4.
Real estate:
4.1 Properties occupied by the company (less $
encumbrances)
0
...................................
0
0
4.2 Properties held for
the production of income (less
$
encumbrances)
.................................0
...................................
.................................0
.................................0
4.3 Properties held for sale (less $
.......................................................................................encumbrances)
.................................0
...................................
.................................0
.................................0
5.
Cash ($
3,294,404 ), cash equivalents
($
3,530,499
) and short-term
investments ($
...................
6,098,199 )
12,923,102
...................................
12,923,102
12,139,660
6.
Contract loans (including $
................................... premium notes)
...................................
...................................
0
0
7.
Derivatives
...................................
...................................
0
0
8.
Other invested assets
0
...................................
0
50,040
9.
Receivables for securities
1,879
...................................
1,879
0
10.
Securities lending reinvested collateral assets
...................................
...................................
0
0
11.
Aggregate write-ins for invested assets
0
0
0
0
12.
Subtotals, cash and invested assets (Lines 1 to 11)
76,572,422
6,126
76,566,296
77,859,629
13.
Title plants less $
charged off (for Title insurers
only)
...................................
...................................
0
0
14.
Investment income due and accrued
439,449
...................................
439,449
215,422
15. Premiums and considerations:
15.1
Uncollected premiums and agents' balances in the course of collection
2,083,495
461,877
1,621,618
1,501,915
15.2
Deferred premiums, agents' balances and installments booked but
...................................deferred and not yet due (including $
............................................................earned but unbilled premiums)
.......................178,323
...................................
.......................178,323
........................ 12,210
15.3
Accrued retrospective premiums ($
) and
contracts subject to redetermination ($
)
...................................
...................................
.................................0
.................................0
16.
Reinsurance:
16.1
....................................................Amounts recoverable from reinsurers
........................ 99,478
...................................
........................ 99,478
........................ 99,478
16.2
..........................Funds held by or deposited with reinsured companies
...................................
...................................
.................................0
.................................0
16.3
Other amounts receivable under reinsurance contracts
...................................
...................................
.................................0
.................................0
17.
Amounts receivable relating to uninsured plans
...................................
...................................
.................................0
.................................0
18.1
....Current federal and foreign income tax recoverable and interest thereon
................... 2,097,803
...................................
................... 2,097,803
................... 1,342,827
18.2
Net deferred tax asset
...................................................................................
...................................
...................................
.................................0
........................ 52,500
19.
......................................................Guaranty funds receivable or on deposit
................... 1,396,555
................... 1,344,055
........................ 52,500
.................................0
20.
Electronic data processing equipment and software
........................ 25,997
...................................
........................ 25,997
........................ 83,199
21.
Furniture and equipment, including health care delivery assets
...................................($
........................ 64,687
........................ 64,687
.................................0
.................................0
22.
.........Net adjustment in assets and liabilities due to foreign exchange rates
...................................
...................................
.................................0
.................................0
23.
.....................................Receivables from parent, subsidiaries and affiliates
...................................
...................................
.................................0
.................................0
24.
Health care ($
) and other amounts receivable
...................................
...................................
.................................0
.................................0
25.
Aggregate write-ins for other than invested assets
...................... 808,983
...................... 688,274
...................... 120,709
...................... 670,424
26. Total assets excluding Separate Accounts, Segregated Accounts and
Protected Cell Accounts (Lines 12 to 25)
83,767,192
2,565,019
81,202,173
81,837,604
27.
From Separate Accounts, Segregated Accounts and Protected Cell
Accounts
...................................
...................................
.................................0
.................................0
28.
Total (Lines 26 and 27)
83,767,192
2,565,019
81,202,173
81,837,604
DETAILS OF WRITE-INS
1101.
....................................................................................................................
...................................
...................................
.................................0
.................................0
1102.
....................................................................................................................
...................................
...................................
.................................0
.................................0
1103.
....................................................................................................................
...................................
...................................
.................................0
.................................0
1198.
Summary of remaining write-ins for Line 11 from overflow page
.................................0
.................................0
.................................0
.................................0
1199.
Totals (Lines 1101 through 1103 plus 1198)(Line 11 above)
0
0
0
0
2501.
Prepaid expenses and retainers
.......................336,338
.......................336,338
.................................0
.................................0
2502.
Prepaid Premium Taxes
........................ 86,767
........................ 86,767
.................................0
.................................0
2503.
Other receivables
.......................362,740
.......................250,375
...................... 112,365
...................... 670,424
2598.
Summary of remaining write-ins for Line 25 from overflow page
........................ 23,138
........................ 14,794
..........................8,344
.................................0
2599.
Totals (Lines 2501 through 2503 plus 2598)(Line 25 above)
808,983
688,274
120,709
670,424
2
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Agents National Title Insurance Company
LIABILITIES, SURPLUS AND OTHER FUNDS
1
2
Current
December 31,
Statement Date
Prior Year
1.
Known claims reserve
................... 3,568,534
................... 3,045,224
2.
Statutory premium reserve
................. 20,828,066
................. 20,129,568
3.
Aggregate of other reserves required by law
.................................0
.................................0
4.
Supplemental reserve
...................................
.................................0
5.
.............................Commissions, brokerage and other charges due or accrued to attorneys, agents and real estate brokers
...................................
...................................
6.
...............................................................................................................Other expenses (excluding taxes, licenses and fees)
................... 2,250,321
...................... 851,456
7.
...................................................................................Taxes, licenses and fees (excluding federal and foreign income taxes)
...................... 218,991
........................ 68,724
8.1
...................................Current federal and foreign income taxes (including $
on realized capital gains (losses))
.................................0
.................................0
8.2
Net deferred tax liability
........................ 52,500
........................ 52,500
9.
Borrowed money $
and interest thereon $
..............................................
...................................
...................................
10.
Dividends declared and unpaid
.................................................................................................................................................
...................................
...................................
11.
Premiums and other consideration received in advance
........................ 83,700
.......................123,172
12.
Unearned interest and real estate income received in advance
...................................
...................................
13.
..................................................................................................................Funds held by company under reinsurance treaties
...................................
.................................0
14.
..............................................................................................Amounts withheld or retained by company for account of others
...................................
...................................
15.
................................................................................................................Provision for unauthorized and certified reinsurance
...................................
.................................0
16.
...................................................................................Net adjustments in assets and liabilities due to foreign exchange rates
...................................
...................................
17.
Drafts outstanding
...................................
...................................
18.
............................................................................................................................Payable to parent, subsidiaries and affiliates
...................... 244,063
...................... 178,226
19.
Derivatives
.................................0
.................................0
20.
Payable for securities
...................................
...................................
21.
Payable for securities lending
...................................
...................................
22.
.....................................................................................................................................Aggregate write-ins for other liabilities
0
0
23.
Total liabilities (Lines 1 through 22)
27,246,175
24,448,870
24.
Aggregate write-ins for special surplus funds
.................................0
.................................0
25.
Common capital stock
...................2,000,000
...................2,000,000
26.
Preferred capital stock
...................................
...................................
27.
Aggregate write-ins for other than special surplus funds
.................................0
.................................0
28.
Surplus notes
...................... 591,110
.......................573,482
29.
.......................................................................................................................................Gross paid in and contributed surplus
................. 50,788,762
................. 50,788,762
30.
Unassigned funds (surplus)
...................... 576,126
...................4,026,490
31.
Less treasury stock, at cost:
31.1
shares common (value included in Line 25
$
................................... )
...................................
...................................
31.2
shares preferred (value included in Line 26
$
................................... )
...................................
...................................
32.
Surplus as regards policyholders (Lines 24 to 30, less 31)
53,955,998
57,388,734
33.
Totals (Page 2, Line 28, Col. 3)
81,202,173
81,837,604
DETAILS OF WRITE-INS
0301
....................................
0302
....................................
0303
....................................
0398.
................................................................................................Summary of remaining write-ins for Line 3 from overflow page
.................................0
.................................0
0399.
Totals (Lines 0301 through 0303 plus 0398)(Line 3 above)
0
0
2201
....................................
2202
....................................
2203
....................................
2298.
..............................................................................................Summary of remaining write-ins for Line 22 from overflow page
.................................0
.................................0
2299.
Totals (Lines 2201 through 2203 plus 2298)(Line 22 above)
0
0
2401
....................................
2402
....................................
2403
....................................
2498.
..............................................................................................Summary of remaining write-ins for Line 24 from overflow page
.................................0
.................................0
2499.
Totals (Lines 2401 through 2403 plus 2498)(Line 24 above)
0
0
2701
....................................
2702
....................................
2703
....................................
2798.
..............................................................................................Summary of remaining write-ins for Line 27 from overflow page
.................................0
.................................0
2799.
Totals (Lines 2701 through 2703 plus 2798)(Line 27 above)
0
0
3
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Agents National Title Insurance Company
OPERATIONS AND INVESTMENT EXHIBIT
STATEMENT OF INCOME
1
2
3
Current
Prior Year
Prior Year Ended
Year to Date
to Date
December 31
OPERATING INCOME
1.
Title insurance and related income:
1.1 Title insurance premiums earned
................. 46,090,846
................. 52,455,380
................. 68,255,903
1.2 Escrow and settlement services
...................................
...................................
.................................0
1.3 Other title fees and service charges
...................1,285,495
...................1,405,019
................... 1,796,355
2.
Aggregate write-ins for other operating income
0
0
0
3.
Total Operating Income (Lines 1 through 2)
47,376,341
53,860,399
70,052,258
EXPENSES
4.
Losses and loss adjustment expenses incurred
...................4,295,984
................... 3,826,471
...................4,502,652
5.
Operating expenses incurred
................. 49,719,438
................. 53,741,060
................. 69,446,218
6.
Aggregate write-ins for other operating expenses
0
0
0
7.
Total Operating Expenses
54,015,422
57,567,531
73,948,870
8.
Net operating gain or (loss) (Lines 3 minus 7)
(6,639,081)
(3,707,132)
(3,896,612)
INVESTMENT INCOME
9.
Net investment income earned
................... 2,364,418
...................... 789,241
...................1,229,206
10.
Net realized capital gains (losses) less capital gains tax of $
....................
(62,529)
(4,171,382)
(4,203,098)
11.
Net investment gain (loss) (Lines 9 + 10)
2,301,889
(3,382,141)
(2,973,892)
OTHER INCOME
12.
Aggregate write-ins for miscellaneous income or (loss) or other deductions
........................ 37,924
........................ 16,078
........................ 26,150
13.
..........Net income, after capital gains tax and before all other federal income taxes (Lines 8+11+12)
................. (4,299,268)
................. (7,073,195)
................. (6,844,354)
14.
Federal and foreign income taxes incurred
(843,955)
(1,468,524)
(1,198,556)
15.
Net income (Lines 13 minus 14)
(3,455,313)
(5,604,671)
(5,645,798)
CAPITAL AND SURPLUS ACCOUNT
16.
Surplus as regards policyholders, December 31 prior year
................. 57,388,734
................. 25,695,212
................. 25,695,212
17.
Net income (from Line 15)
................. (3,455,313)
................. (5,604,671)
................. (5,645,798)
18.
Change in net unrealized capital gains (losses) less capital gains tax of $
...................................
...................... 290,489
...................... 290,489
19.
Change in net unrealized foreign exchange capital gain (loss)
...................................
...................................
...................................
20.
Change in net deferred income taxes
...................................
...................................
...................... 255,199
21.
Change in nonadmitted assets
22,577
297,289
(596,952)
22.
Change in provision for unauthorized and certified reinsurance
.................................0
.................................0
.................................0
23.
Change in supplemental reserves
.................................0
.................................0
.................................0
24.
Change in surplus notes
........................ 17,628
.......................(35,320)
...................... (29,402)
25.
Cumulative effect of changes in accounting principles
...................................
...................................
...................................
26.
Capital changes:
26.1 Paid in
...................................
...................................
...................................
26.2 Transferred from surplus (Stock Dividend)
...................................
...................................
...................................
26.3 Transferred to surplus
...................................
...................................
...................................
27.
Surplus adjustments:
27.1 Paid in
0
6,000,000
38,055,749
27.2 Transferred to capital (Stock Dividend)
...................................
...................................
...................................
27.3 Transferred from capital
...................................
...................................
...................................
28.
Dividends to stockholders
...................................
...................................
...................................
29.
Change in treasury stock
...................................
...................................
.................................0
30.
Aggregate write-ins for gains and losses in surplus
(17,628)
35,320
(635,763)
31.
Change in surplus as regards policyholders (Lines 17 through 30)
(3,432,736)
983,107
31,693,522
32.
Surplus as regards policyholders as of statement date (Lines 16 plus 31)
53,955,998
26,678,319
57,388,734
DETAILS OF WRITE-INS
0201
....................................
....................................
....................................
0202
....................................
....................................
....................................
0203
....................................
....................................
....................................
0298.
Summary of remaining write-ins for Line 2 from overflow page
0
0
0
0299.
Totals (Lines 0201 through 0203 plus 0298)(Line 2 above)
0
0
0
0601
....................................
....................................
....................................
0602
....................................
....................................
....................................
0603
....................................
....................................
....................................
0698.
Summary of remaining write-ins for Line 6 from overflow page
.................................0
.................................0
0
0699.
Totals (Lines 0601 through 0603 plus 0698)(Line 6 above)
0
0
0
1201.
Rental income
...................................
0
...................................
1202.
Other income
37,924
........................ 16,078
........................ 26,150
1203
....................................
....................................
....................................
1298.
Summary of remaining write-ins for Line 12 from overflow page
.................................0
.................................0
.................................0
1299.
Totals (Lines 1201 through 1203 plus 1298)(Line 12 above)
37,924
16,078
26,150
3001.
Change in Accrued Interest
(17,628)
35,320
29,402
3002.
Correction
...................................
...................................
(665,165)
3003
....................................
....................................
....................................
3098.
Summary of remaining write-ins for Line 30 from overflow page
.................................0
.................................0
.................................0
3099.
Totals (Lines 3001 through 3003 plus 3098)(Line 30 above)
(17,628)
35,320
(635,763)
4
STATEMENT AS OF SEPTEMBER 30, 2024 OF THE Agents National Title Insurance Company
CASH FLOW
Cash from Operations
1
Current Year
To Date
2
Prior Year
To Date
3
Prior Year Ended
December 31
1.
Premiums collected net of reinsurance
................. 35,779,107
................. 40,813,823
................. 72,719,977
2.
Net investment income
................... 1,447,013
...................... 669,018
.......................978,308
3.
Miscellaneous income
6
277
277
4.
Total (Lines 1 to 3)
37,226,126
41,483,118
73,698,562
5.
Benefit and loss related payments
................... 3,772,674
................... 2,408,721
................... 2,618,713
6.
Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts
...................................
...................................
...................................
7.
...............................................Commissions, expenses paid and aggregate write-ins for deductions
................. 34,264,702
................. 38,438,037
................. 70,983,571
8.
Dividends paid to policyholders
...................................
...................................
...................................
9.
Federal and foreign income taxes paid (recovered) net of $
tax on capital
gains (losses)
0
0
0
10.
Total (Lines 5 through 9)
38,037,376
40,846,758
73,602,284
11.
Net cash from operations (Line 4 minus Line 10)
(811,250)
636,360
96,278
Cash from Investments
12. Proceeds from investments sold, matured or repaid:
12.1
Bonds
................... 3,768,356
................... 2,770,000
................... 3,076,316
12.2
Stocks
.................................0
.................................0
........................ 30,500
12.3
Mortgage loans
.................................0
.................................0
.................................0
12.4
Real estate
.................................0
.......................182,677
.......................182,677
12.5
Other invested assets
.......................... 1,335
................... 4,998,344
................... 5,030,677
12.6
Net gains or (losses) on cash, cash equivalents and short-term investments
.................................0
.................................0
.................................0
12.7
Miscellaneous proceeds
0
0
0
12.8 Total investment proceeds (Lines 12.1 to 12.7)
................... 3,769,691
................... 7,951,021
................... 8,320,170
13.
Cost of investments acquired (long-term only):
13.1
Bonds
.......................979,335
...................5,940,908
................. 30,046,096
13.2
Stocks
........................ 20,200
..........................3,100
..........................3,100
13.3
Mortgage loans
.................................0
.................................0
.................................0
13.4
Real estate
.................................0
..........................4,000
..........................4,000
13.5
Other invested assets
.................................0
................... 4,939,830
................... 4,180,678
13.6
Miscellaneous applications
0
0
0
13.7
Total investments acquired (Lines 13.1 to 13.6)
999,535
10,887,838
34,233,874
14.
Net increase (or decrease) in contract loans and premium notes
0
0
0
15.
Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)
2,770,156
(2,936,817)
(25,913,704)
Cash from Financing and Miscellaneous Sources
16.
Cash provided (applied):
16.1
Surplus notes, capital notes
........................ 17,628
.......................(35,320)
...................... (29,402)
16.2
Capital and paid in surplus, less treasury stock
.................................0
...................6,000,000
...................6,000,000
16.3
Borrowed funds
.................................0
.................................0
.................................0
16.4
Net deposits on deposit-type contracts and other insurance liabilities
.................................0
.................................0
.................................0
..........................................................................................................16.5 Dividends to stockholders
.................................0
.................................0
.................................0
....................................................................................................16.6 Other cash provided (applied)
(1,193,092)
(1,403,368)
(1,681,017)
17.
Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5
plus Line 16.6)
(1,175,464)
4,561,312
4,289,581
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)
.......................783,442
...................2,260,855
................(21,527,845)
19.
Cash, cash equivalents and short-term investments:
19.1
Beginning of year
................. 12,139,660
................. 33,667,505
................. 33,667,505
19.2 End of period (Line 18 plus Line 19.1)
12,923,102
35,928,360
12,139,660
Note: Supplemental disclosures of cash flow information for non-cash transactions:
5
TITLE
Note #
Description
Page #
1
Summary of Significant Accounting Policies
6.1
2
Accounting Changes and Corrections of Errors
6.2
3
Business Combinations and Goodwill
6.2
4
Discontinued Operations
6.2
5
Investments
6.2
6
Joint Ventures, Partnerships and Limited Liability Companies
6.4
7
Investment Income
6.4
8
Derivative Instruments
6.4
9
Income Taxes
6.4
10
Information Concerning Parent, Subsidiaries and Affiliates
6.7
11
Debt
6.8
12
Retirement Plans, Deferred Compensation, Postemployment Benefits and
Compensated Absences and Other Postretirement Benefit Plans
6.8
13
Capital and Surplus, Dividend Restrictions and Quasi-Reorganizations
6.8
14
Contingencies
6.9
15
Leases
6.9
16
Information About Financial Instruments With Off-Balance Sheet Risk and
Financial Instruments With Concentrations of Credit Risk
6.10
17
Sale, Transfer and Servicing of Financial Assets and Extinguishments of Liabilities
6.10
18
Gain or Loss to the Reporting Entity from Uninsured Plans and the
Uninsured Portion of Partially Insured Plans (N/A - Title)
6.10
19
Direct Premium Written/Produced by Managing General Agents/Third Party
Administrators (N/A - Title)
6.10
20
Fair Value Measurement
6.10
21
Other Items
6.11
22
Events Subsequent
6.11
23
Reinsurance
6.11
24
Retrospectively Rated Contracts & Contract Subject to Redetermination (N/A - Title)
6.11
25
Change in Incurred Losses and Loss Adjustment Expense
6.11
26
Intercompany Pooling Arrangements
6.11
27
Structured Settlements
6.11
28
Supplemental Reserves
6.11
NOTES TO FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies and Going Concern
Reconciling Items Between State Basis and NAIC Basis for Income and Surplus
Net Income
SSAP #
F/S
F/S
2024
2023
Page
Line #
(1)
State basis (Page 4, Line 15, Columns 1 & 2)
00
3
2
($
3,455,313)
($
5,645,798)
(2)
State Prescribed Practices that are an
increase/(decrease) from NAIC SAP:
RSMo 381.072-Statutory Premium Reserves
57
3
2
$
834,496
$
1,312,800
vs NAIC Model Act, net of tax
(3)
State Permitted Practices that increase/(decrease)
NAIC SAP:
None
-0-
-0-
(4)
NAIC SAP
($ 2,620,817)
($
4,332,998)
SURPLUS
(5)
State basis (Page 3, Line 32, Columns 1 & 2)
$
53,955,998
$
57,388,734
(6)
State Prescribed Practices that
increase/(decrease) NAIC SAP:
RSMo 381.072-Statutory Premium Reserves
57
3
2
$
6,739,638
$
5,905,143
vs NAIC Model Act, net of tax
Supplemental Reserves (caused by the
57
3
2
-0-
-0-
accelerated NAIC Model Act restoration of
SPR vs Missouri restoration per RSMo
381.072)
(7)
State Permitted Practices that increase/(decrease)
NAIC SAP:
None
-0-
-0-
(8)
NAIC SAP
$ 60,695,636
$
63,293,877
The Company assumes the NAIC Model Act reserves at the same rate as prescribed in RSMo 381.072 of fifteen cents per thousand of retained risk or as required of foreign insurers by state regulations. Thus, the amounts above are related to the differences in the amortization schedules to restore statutory premium reserves "SPR".
The Company maintains certificate of deposits with various banks to comply with required statutory deposits. 1) Restricted Assets (Including Pledged)
Restricted Asset Category
1
2
3
4
5
6
7
Total Gross
Total Gross
Increase/
Total Current
Total Current
Percentage
Percentage
Restricted from
Restricted
(Decrease)
Year
Year Admitted
Gross
Admitted
Current Year
From Prior
(1 minus2)
Nonadmitted
Restricted
Restricted to
Restricted to
Year
Restricted
Total Assets
Total
Admitted
Assets
a.
Subject to contractual
$
-
$
-
$
-
-
$
-
-
-
obligation for which
liability is not shown
b.
Collateral held under
-
-
-
-
-
-
-
security lending
agreements
c.
Subject to repurchase
-
-
-
-
-
-
-
agreements
d.
Subject to reverse
-
-
-
-
-
-
-
repurchase agreements
e.
Subject to dollar
-
-
-
-
-
-
-
repurchase agreements
f.
Subject to dollar
-
-
-
-
-
-
-
reverse repurchase
agreements
g.
Placed under option
-
-
-
-
-
-
-
contracts
h.
Letter stock or
-
-
-
-
-
-
-
securities restricted as
to sale
i.
FHLB Capital Stock
50,700
30,500
20,200
-
50,700
0.06%
0.06%
j.
On deposit with states
4,070,447
4,102,882
(32,435)
-
4,070,447
4.86 %
5.01 %
k.
On deposit with other
-
-
-
-
-
-
-
regulatory bodies
l.
Pledged as collateral to
-
-
-
-
-
-
-
FHLB (including assets
backing funding
agreements)
m.
Pledged as collateral
-
-
-
-
-
-
-
not captured in other
categories
n.
Other restricted assets
-
-
-
-
-
-
-
o.
Total Restricted Assets
$
4,121,147
$4,133,382
($
12,235)
-
$
4,121,147
4.92%
5.07%
Disclaimer
Essent Group Ltd. published this content on November 25, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 25, 2024 at 22:28:38.285.