U-Haul 2009 Annual Report Download - page 95

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AMERCO AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
Note 21: Statutory Financial Information of Insurance Subsidiaries
Applicable laws and regulations of the State of Arizona require Property and Casualty Insurance and Life Insurance 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:
2008 2007 2006
RepWest:
Audited statutory net income $ 6,724 $ 11,000 $ 8,980
Audited statutory capital and surplus 103,842 110,197 101,236
NAFCIC:
Audited statutory net income (loss) 13 (95) 517
Audited statutory capital and surplus 3,025 3,013 4,512
ARCOA*:
Audited statutory net loss (29) - -
Audited statutory capital and surplus 3,471 - -
Oxford:
Audited statutory net income 9,789 13,038 14,869
Audited statutory capital and surplus 129,702 124,015 112,998
CFLIC:
Audited statutory net income 4,712 4,066 2,652
Audited statutory capital and surplus 34,357 25,075 21,040
NAI:
Audited statutory net income 1,663 6,374 6,198
Audited statutory capital and surplus 10,340 15,824 17,432
DGLIC**:
Audited statutory net income (loss) 299 337 (700)
Audited statutory capital and surplus 4,528 4,199 4,354
* Commenced business in June 2008.
** Acquired by CFLIC February 2006.
Years 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, 2008 that could be distributed as ordinary dividends was $12.7 million. The statutory surplus for RepWest at
December 31, 2008 that could be distributed as ordinary dividends was $9.1 million. In September 2008, RepWest paid
$5.5 million in ordinary dividends to AMERCO.
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