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SOUTHERN AMERICAN
INSURANCE COMPANY IN LIQUIDATION |
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Balance Sheet |
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December 31, 2007 |
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Date of
Liquidation - March 25, 1992 |
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ASSETS |
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(1) |
Cash and Cash
Equivalents |
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$68,293,638 |
(1) |
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(2) |
Short-Term
Investments |
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$0 |
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(3) |
Bonds |
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$0 |
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(4) |
Stocks |
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(a) Preferred |
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$0 |
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(b) Common |
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$0 |
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$0 |
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(5) |
Mortgage Loans |
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$0 |
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(6) |
Real Estate |
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$0 |
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(7) |
Policy Loans |
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$0 |
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(8) |
Other Invested
Assets |
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$0 |
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(9) |
Advances to
Guaranty Associations |
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$0 |
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(10) |
Recoverable from
Reinsurers |
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(a) Paid
Losses |
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$401,363 |
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(b) Unpaid
Losses |
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$0 |
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$401,363 |
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(11) |
Salvage and
Subrogation Recoverables |
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$0 |
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(12) |
Premiums Due and
Accrued |
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$0 |
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(13) |
Agent's Balances |
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$0 |
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(14) |
Receivable from
Affiliates |
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$0 |
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(15) |
Accrued
Investment Income |
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$0 |
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(16) |
Other Assets |
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$10,789 |
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(17) Total
Unrestricted Assets |
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$68,705,790 |
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(18) |
Restricted Assets |
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$181,404 |
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(19) Total Assets |
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$68,887,194 |
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Note: |
This report
utilizes the reporting format for
Receiverships established by the National
Association of Insurance Commissioners, |
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which does not
address valuation methods. The values utilized
may vary significantly from Statutory
Accounting Principles. |
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The information
contained in this report is prepared by the
liquidator from information available to or
known |
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by the liquidator
as of the date of the report. The liquidator
makes no warranty as to the accuracy of the |
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information or of
the opinions or evaluations contained in this
report and expressly disclaims any liability |
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arising from the
statements of fact, evaluation or opinion
contained in this report. Amounts from prior
periods |
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may be
reclassified to be consistent with current
year classifications. |
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Note 1: |
All funds have
been placed in Money Market accounts in
anticipation of distributions. |
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|
SOUTHERN AMERICAN
INSURANCE COMPANY IN LIQUIDATION |
|
Balance Sheet |
|
December 31, 2007 |
| |
|
|
|
|
|
|
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Date of
Liquidation - March 25, 1992 |
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LIABILITIES |
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(1) |
Secured Claims |
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$0 |
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(2) |
Class 1 |
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$10,000,000 |
(1) |
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(3) |
Class 2 |
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$0 |
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(4) |
Class 3 |
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$68,626,309 |
(2) |
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(5) |
Class 4 |
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$0 |
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(6) |
Class 5 |
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$4,000 |
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(7) |
Class 6 |
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$10,364,709 |
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(8) |
Class 7 and 8 |
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$0 |
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(9) |
Class 9 |
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