U-Haul 2008 Annual Report Download - page 94

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Related Party Assets
2008 2007
Private Mini notes, receivables and interest $ 71,038 $ 71,785
Oxford note receivable from SAC Holdings - 5,040
U-Haul notes receivable from SAC Holdings (a) 198,144 123,578
U-Haul interest receivable from SAC Holdings (a) 4,498 23,361
U-Haul receivable from SAC Holdings (a) 20,617 16,596
U-Haul receivable from Mercury 6,791 4,278
Other 2,798 541
$ 303,886 $ 245,179
March 31,
(In thousands)
(a) Fiscal 2008 includes both SAC Holding I and SAC Holding II, whereas fiscal 2007 includes SAC Holding I. This is due to the deconsolidation of
SAC Holding II effective October 31, 2007.
Note 20: Statutory Financial Information of Insurance Subsidiaries
Applicable laws and regulations of the State of Arizona require RepWest and Oxford to maintain minimum capital and
surplus determined in accordance with statutory accounting principles. Audited statutory net income (loss) and statutory
capital and surplus for the years-ended are listed below:
2007 2006 2005
RepWest:
Audited statutory net income $ 11,000 $ 8,980 $ 1,825
Audited statutory capital and surplus 110,197 101,236 89,824
NAFCIC:
Audited statutory net income (loss) (95) 517 (82)
Audited statutory capital and surplus 3,013 4,512 3,681
Oxford:
Audited statutory net income 13,038 14,869 10,237
Audited statutory capital and surplus 124,015 112,998 101,466
CFLIC:
Audited statutory net income 4,066 2,652 1,470
Audited statutory capital and surplus 25,075 21,040 22,455
NAI:
Audited statutory net income 6,374 6,198 3,076
Audited statutory capital and surplus 15,824 17,432 16,150
DGLIC*:
Audited statutory net income (loss) 337 (700) -
Audited statutory capital and surplus 4,199 4,354 -
* Acquired by CFLIC February 28, 2006.
Year Ended December 31,
(In thousands)
The amount of dividends that can be paid to shareholders by insurance companies domiciled in the State of Arizona is
limited. Any dividend in excess of the limit requires prior regulatory approval. The statutory surplus for Oxford at
December 31, 2007 that could be distributed as ordinary dividends was $12.2 million. RepWest paid $27.0 million in non-
cash dividends to its parent during 2005; payment was effected by a reduction in intercompany accounts. The statutory
surplus for RepWest at December 31, 2007 that could be distributed as ordinary dividends was $11.0 million.
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