Summarized Balance Sheet Data
 
  Unaudited   Audited
(amounts are USD in thousands)   12/31/2008   12/31/2007
Assets
Bonds   $ 1,560,507   $ 1,859,772
Common Stocks     54,343     104,053
Preferred Stocks     24,493     28,518
Cash and Short-term     259,219     106,270
Other Invested Assets     171,796     200,384
Reinsurance Balances Receivable     325,507     408,344
Other Assets     109,135     111,865
Total Assets   $ 2,504,999   $ 2,819,204
 
Liabilities
Unpaid Losses and Loss Adjustment Expenses   $ 1,456,826   $ 1,456,328
Unearned Premiums     136,082     197,925
Other Liabilities     203,319     238,339
Total Liabilities   $ 1,796,227   $ 1,892,591
Policyholders' Surplus   $ 708,771   $ 926,613
Total Liabilities & Policyholders' Surplus   $ 2,504,999   $ 2,819,204
 
Summarized Income Statement Data
 
  Unaudited   Audited
  For the year ended
(amounts are USD in thousands)   12/31/2008   2/31/2007
Gross Written Premium   $ 779,157   $ 1,137,482
Net Premium Earned     616,716     857,942
Net Investment Income Earned     87,214     102,475
Net Realized Gains (Losses) from Sale of
     Investments, Net of Tax		     (91,465)     44,783
Total Revenue   $ 612,465   $ 1,005,199
 
Losses and Loss Adjustment Expenses Incurred   $ 622,639   $ 659,606
Commissions Incurred     93,140     218,976
Other Operating Expenses     35,391     42,841
Miscellaneous Expenses     4,412     5,867
Total Expenses   $ 755,581   $ 927,289
 
Income (Loss) Before Provision for Income Taxes   $ (143,116)   $ 77,910
Federal and Foreign Tax Expense (Benefit)     (19,357)     14,990
Net Income (Loss)   $ (123,759)   $ 62,919

Source: White Mountains Reinsurance Company of America's December 31, 2008 Statutory-Basis Financial Annual Statement (Unaudited) and December 31, 2007 Statutory-Basis Financial Annual Statement (Audited).