U-Haul 2011 Annual Report Download - page 94

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AMERCO AND CONSOLIDATED SUBSIDIARIES
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:
2010 2009 2008
Repwest:
Audited statutory net income $ 6,946 $ 6,016 $ 6,724
Audited statutory capital and surplus 125,102 118,447 103,842
NAFCIC*:
Audited statutory net income (loss) - (6) 13
Audited statutory capital and surplus - 3,019 3,025
ARCOA**:
Audited statutory net income (loss) (773) 96 (29)
Audited statutory capital and surplus 2,769 3,566 3,471
Oxford:
Audited statutory net income 4,640 3,277 9,789
Audited statutory capital and surplus 129,173 133,867 129,702
CFLIC:
Audited statutory net income 4,347 6,439 4,712
Audited statutory capital and surplus 32,799 39,784 34,357
NAI:
Audited statutory net income (loss) (857) 847 1,663
Audited statutory capital and surplus 11,265 9,301 10,340
DGLIC:
Audited statutory net income 796 347 299
Audited statutory capital and surplus 5,966 5,115 4,528
* Dissolved in August 2010.
** Commenced business in June 2008.
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
Repwest at December 31, 2010 that could be distributed as ordinary dividends was $8.1 million. Repwest paid a
$3.3 million cash dividend to AMERCO in December 2010. The statutory surplus for Oxford at December 31,
2010 that could be distributed as ordinary dividends was $3.2 million. Oxford did not pay a dividend to AMERCO
in 2010.
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