Summarized Balance Sheet Data
 
  Unaudited   Audited
(amounts are USD in thousands) 12/31/2011 12/31/2010
Assets
Bonds   $ 1,252,510   $ 1,537,823 
Common Stocks     159,428     207,107 
Preferred Stocks     2,074     2,690 
Cash and Short-term     98,395     187,539 
Other Invested Assets     68,763     135,564 
Reinsurance Balances Receivable     164,300     241,799 
Other Assets     62,265     80,000 
Total Assets $1,807,736 $2,392,522 
 
Liabilities
Unpaid Losses and Loss Adjustment Expenses   $ 1,068,444   $  1,255,296 
Unearned Premiums     56,641    

124,505
Other Liabilities     148,961    

270,163
Total Liabilities $1,274,046
 $1,649,964 
Policyholders' Surplus $533,690
 $742,557 
Total Liabilities & Policyholders' Surplus $1,807,736
 $2,392,522 
 
Summarized Income Statement Data
 
  Unaudited   Audited
  For the year ended
(amounts are USD in thousands) 12/31/2011 12/31/2010
Gross Written Premium   $ 490,021 
  $ 628,707
Net Premium Earned     553,212 
    529,598
Net Investment Income Earned     47,917 
    59,715
Net Realized Gains (Losses) from Sale of
     Investments, Net of Tax		      42,327 
     40,853
Total Revenue $643,456 
 $630,166
 
Losses and Loss Adjustment Expenses Incurred   $ 396,654
  $ 422,277
Commissions Incurred     119,286     114,690
Other Operating Expenses     24,989
    27,192
Miscellaneous Expenses     1,455
    10,921
Total Expenses $542,384
 $575,080
 
Income (Loss) Before Provision for Income Taxes   $ 101,072
  $ 55,086
Federal and Foreign Tax Expense (Benefit)     (322)     474
Net Income (Loss) $101,394
 $54,611

Source: White Mountains Reinsurance Company of America's December 31, 2011 Statutory-Basis Annual Financial Statement (Unaudited) and December 31, 2010 Statutory-Basis Annual Financial Statement (Audited).