National General Holdings Corp. Balance Sheet

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Balance Sheets

In millions of USD; shares in millions, except per-share amounts

	Q4 FY2020 As of Dec 31, 2020	Q3 FY2020 As of Sep 30, 2020	Q2 FY2020 As of Jun 30, 2020	Q1 FY2020 As of Mar 31, 2020	Q4 FY2019 As of Dec 31, 2019	Q3 FY2019 As of Sep 30, 2019	Q2 FY2019 As of Jun 30, 2019	Q1 FY2019 As of Mar 31, 2019	Q4 FY2018 As of Dec 31, 2018	Q3 FY2018 As of Sep 30, 2018	Q2 FY2018 As of Jun 30, 2018	Q1 FY2018 As of Mar 31, 2018	Q4 FY2017 As of Dec 31, 2017	Q3 FY2017 As of Sep 30, 2017	Q2 FY2017 As of Jun 30, 2017	Q1 FY2017 As of Mar 31, 2017	Q4 FY2016 As of Dec 31, 2016	Q3 FY2016 As of Sep 30, 2016	Q2 FY2016 As of Jun 30, 2016	Q1 FY2016 As of Mar 31, 2016
ASSETS
Investments:
Debt securities, available-for-sale, at fair value (allowance for expected credit losses $0 - 2020) (Exchanges - $310,215 and $324,249; allowance for expected credit losses $0 - 2020)
NGHC, excluding Reciprocal Exchanges
NGHC
Reciprocal Exchanges
Total debt securities, available-for-sale, at fair value (allowance for expected credit losses $0 - 2020) (Exchanges - $310,215 and $324,249; allowance for expected credit losses $0 - 2020)

Fixed maturities, trading, at fair value
NGHC, excluding Reciprocal Exchanges
NGHC
Total fixed maturities, trading, at fair value
Equity securities, trading, at fair value
NGHC, excluding Reciprocal Exchanges
NGHC
Total equity securities, trading, at fair value
Equity securities, at fair value
Reciprocal Exchanges
NGHC, excluding Reciprocal Exchanges
NGHC
Total equity securities, at fair value

Short-term investments (Exchanges - $26,887 and $5,245)
NGHC, excluding Reciprocal Exchanges
Reciprocal Exchanges
Total short-term investments (Exchanges - $26,887 and $5,245)

Equity investment in unconsolidated subsidiaries
Other investments (related parties - $231,927 and $238,841)
NGHC, excluding Reciprocal Exchanges
NGHC
Total other investments (related parties - $231,927 and $238,841)

Securities pledged (amortized cost $0 and $54,955)
Total investments

Cash and cash equivalents (Exchanges - $3,782 and $959)
Reciprocal Exchanges
Total cash and cash equivalents (Exchanges - $3,782 and $959)
Restricted cash and cash equivalents (Exchanges - $331 and $24)
Reciprocal Exchanges
Total restricted cash and cash equivalents (Exchanges - $331 and $24)
Accrued investment income (related parties - $2,420 and $2,391) (Exchanges - $1,628 and $2,001)
Reciprocal Exchanges
Total accrued investment income (related parties - $2,420 and $2,391) (Exchanges - $1,628 and $2,001)
Premiums and other receivables (net of allowance for expected credit losses $22,781 - 2020; net of bad debt allowance $24,067 - 2019) (Exchanges - $49,315 and $55,859; net of allowance for expected credit losses $1,165 - 2020; net of bad debt allowance $541 - 2019)
NGHC, excluding Reciprocal Exchanges
NGHC
Reciprocal Exchanges
Total premiums and other receivables (net of allowance for expected credit losses $22,781 - 2020; net of bad debt allowance $24,067 - 2019) (Exchanges - $49,315 and $55,859; net of allowance for expected credit losses $1,165 - 2020; net of bad debt allowance $541 - 2019)

Deferred acquisition costs (Exchanges - $19,200 and $23,307)
Reciprocal Exchanges
Total deferred acquisition costs (Exchanges - $19,200 and $23,307)
Reinsurance recoverable on unpaid losses (Related parties - $33,173 and $42,774) (Exchanges - $45,445 and $39,085)
NGHC, excluding Reciprocal Exchanges
NGHC
Reciprocal Exchanges
Total reinsurance recoverable on unpaid losses (Related parties - $33,173 and $42,774) (Exchanges - $45,445 and $39,085)

Reinsurance recoverable (related parties - $0 and $7,425) (Exchanges - $119,125 and $117,068)
NGHC, excluding Reciprocal Exchanges
Reciprocal Exchanges
Total reinsurance recoverable (related parties - $0 and $7,425) (Exchanges - $119,125 and $117,068)

Reinsurance recoverable (net of allowance for expected credit losses $810 - 2020) (Exchanges - $125,515 and $119,125; net of allowance for expected credit losses $174 - 2020)
NGHC
Reciprocal Exchanges
Total reinsurance recoverable (net of allowance for expected credit losses $810 - 2020) (Exchanges - $125,515 and $119,125; net of allowance for expected credit losses $174 - 2020)

Prepaid reinsurance premiums (Exchanges - $89,850 and $$105,894)
NGHC
Reciprocal Exchanges
Total prepaid reinsurance premiums (Exchanges - $89,850 and $$105,894)

Income tax receivable (Exchanges - $300 and $300)
Notes receivable from related party
Due from affiliate (Exchanges - $0 and $12,060)
Deferred tax asset (Exchanges - $(15,018) and $(19,095))
NGHC, excluding Reciprocal Exchanges
NGHC
Reciprocal Exchanges
Total deferred tax asset (Exchanges - $(15,018) and $(19,095))

Property and equipment, net (Exchanges - $0 and $241)
Reciprocal Exchanges
NGHC, excluding Reciprocal Exchanges
NGHC
Total property and equipment, net (Exchanges - $0 and $241)

Intangible assets, net (Exchanges - $3,045 and $3,225)
Reciprocal Exchanges
Total intangible assets, net (Exchanges - $3,045 and $3,225)
Goodwill
Prepaid and other assets (Exchanges - $3,564 and $3,521)
Reciprocal Exchanges
Total prepaid and other assets (Exchanges - $3,564 and $3,521)
Total assets

LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Unpaid loss and loss adjustment expense reserves (Exchanges - $205,972 and $205,786)
NGHC, excluding Reciprocal Exchanges
NGHC
Reciprocal Exchanges
Total unpaid loss and loss adjustment expense reserves (Exchanges - $205,972 and $205,786)

Unearned premiums and other revenue (Exchanges - $219,582 and $252,553)
Reciprocal Exchanges
Total unearned premiums and other revenue (Exchanges - $219,582 and $252,553)
Unearned service contract and other revenue
Unearned premiums and other revenue (Exchanges - $207,088 and $252,553)
Reciprocal Exchanges
Total unearned premiums and other revenue (Exchanges - $207,088 and $252,553)
Reinsurance payable (Exchanges - $59,039 and $35,689)
Reciprocal Exchanges
Total reinsurance payable (Exchanges - $59,039 and $35,689)
Accounts payable and accrued expenses (Exchanges - $10,203 and $8,497)
NGHC, excluding Reciprocal Exchanges
NGHC
Reciprocal Exchanges
Total accounts payable and accrued expenses (Exchanges - $10,203 and $8,497)

Due to affiliate (Exchanges - $7,520 and $0)
Securities sold under agreements to repurchase, at contract value
Deferred tax liability (Exchanges - $0 and $32,724)
NGHC
Reciprocal Exchanges
Total deferred tax liability (Exchanges - $0 and $32,724)

Income tax payable (Exchanges $557 and $0)
Debt
Other liabilities (Exchanges - $19,639 and $30,803)
NGHC, excluding Reciprocal Exchanges
Reciprocal Exchanges
Total other liabilities (Exchanges - $19,639 and $30,803)

Total liabilities

Stockholders’ equity:
Preferred stock, $0.01 par value - authorized 10,000,000 shares, issued and outstanding 2,565,120 shares - 2020 and 2019; Aggregate liquidation preference $450,000 - 2020 and 2019.
Common stock, $0.01 par value - authorized 150,000,000 shares, issued 114,044,126 and 113,368,811 shares - 2020 and 2019, outstanding 113,585,043 and 113,368,811 shares - 2020 and 2019.
Treasury stock, at cost - 459,083 shares - 2020
Additional paid-in capital
Accumulated other comprehensive income:
Unrealized foreign currency translation adjustment, net of tax
Unrealized gain on investments, net of tax
Total accumulated other comprehensive income
Retained earnings
Total National General Holdings Corp. stockholders’ equity
Noncontrolling interest
Reciprocal Exchanges
Total noncontrolling interest

Total stockholders’ equity
Total liabilities and stockholders’ equity
Preferred stock, shares authorized (in shares)
Preferred stock, par value (in dollars per share)
Common Stock, Shares Authorized

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