Fleetwood Enterprises Inc, Year 2000 Annual Report Notes to Consolidated Financial Statements

 

2. Supplemental Information on Insurance and Real Estate Subsidiaries
The insurance subsidiary was formed primarily for the purpose of insuring products liability risks of the parent company and its subsidiaries. The real estate subsidiary was formed for the purpose of participating in site-built housing construction. As of April 30, 2000, the investment in real estate consisted of raw land, and there were no real estate development activities in process. Condensed financial information for these subsidiaries, excluding intercompany eliminations, is as follows:

(Amounts in thousands)   2000     1999 1998
Insurance subsidiary:
  Investments $ 42,989    $ 44,132    $ 51,482 
Other assets   17,443      13,936      10,197 
Reserves for losses   26,682      26,073       26,339 
Other liabilities   4,854      5,758      12,919 
Net premiums   3,806      4,327      2,524 
Underwriting income   2,061      4,569      23,780 
Investment income   2,553      3,069      3,610 
Net income   2,909      4,834      17,468 
       
Real estate subsidiary:
Land $  2,800    $  2,800    $  2,800 
Other assets   1,035      1,056      1,078 
  Net loss   (21)     (22)     (5)