Civic Intelligence

Southwest Professional Indemnity Corp

EIN 98-0047386 • 501(c)15 • Grand Caymen, Grand Cayman Isla, CJ

Profile

Reinsurance provider for the medical professional liability insurance risks from an unrelated primary insurer in the united states of america.

PO Box 453Grand Caymen, Grand Cayman Isla KY1-9006Cj

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

81st percentile

0.09x

Higher debt load relative to assets than 81% of similar nonprofits.

<$500k nonprofits • Source year 2025

Liabilities / Revenue

92nd percentile

0.48x

Higher debt load relative to revenue than 92% of similar nonprofits.

<$500k nonprofits • Source year 2025

Net Margin

20th percentile

-33%

Higher net margin than 20% of similar nonprofits.

<$500k nonprofits • Source year 2025

Top Officer Pay

87th percentile

$7,914

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 10.9% of source-year revenue.

<$500k nonprofits • Source year 2025

Asset Growth

47th percentile

-3.6%

Faster asset growth than 47% of similar nonprofits.

<$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

56th percentile

3.3%

Faster revenue growth than 56% of similar nonprofits.

<$500k nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$382,092

Up $4,501 (+1.2%) from 2023

Liabilities

Down

$36,006

Down $743 (-2.0%) from 2023

Net Assets

Up

$346,086

Up $5,244 (+1.5%) from 2023

Operations
Liabilities / Revenue92nd percentileNet Margin20th percentile

Revenue

Up

$70,517

Up $2,554 (+3.8%) from 2023

Expenses

Down

$74,487

Down $5,235 (-6.6%) from 2023

Net Income

Up

-$3,970

Up $7,789 (+66%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth47th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0Assets 2011: $917,253Liabilities 2011: $91,724Net Assets 2011: $825,5292011Assets 2012: $937,148Liabilities 2012: $68,611Net Assets 2012: $868,5372012Assets 2013: $918,380Liabilities 2013: $53,462Net Assets 2013: $864,9182013Assets 2014: $855,480Liabilities 2014: $77,342Net Assets 2014: $778,1382014Assets 2015: $738,536Liabilities 2015: $67,952Net Assets 2015: $670,5842015Assets 2016: $729,141Liabilities 2016: $102,652Net Assets 2016: $626,4892016Assets 2017: $653,295Liabilities 2017: $115,785Net Assets 2017: $537,5102017Assets 2018: $592,934Liabilities 2018: $77,916Net Assets 2018: $515,0182018Assets 2019: $520,550Liabilities 2019: $41,875Net Assets 2019: $478,6752019Assets 2020: $532,716Liabilities 2020: $45,886Net Assets 2020: $486,8302020Assets 2021: $511,100Liabilities 2021: $39,688Net Assets 2021: $471,4122021Assets 2022: $433,548Liabilities 2022: $42,301Net Assets 2022: $391,2472022Assets 2023: $377,591Liabilities 2023: $36,749Net Assets 2023: $340,8422023Assets 2024: $382,092Liabilities 2024: $36,006Net Assets 2024: $346,0862024

Highlighted filing

2024

Assets$382,092
Liabilities$36,006
Net Assets$346,086
Open 2024 Filing

Operations Trend

Revenue Growth56th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$100K$0-$100K-$200KRevenue 2011: $52,267Expenses 2011: $165,186Net Income 2011: -$112,9192011Revenue 2012: $110,249Expenses 2012: $94,303Net Income 2012: $15,9462012Revenue 2013: $114,757Expenses 2013: $127,691Net Income 2013: -$12,9342013Revenue 2014: $82,333Expenses 2014: $144,614Net Income 2014: -$62,2812014Revenue 2015: $106,141Expenses 2015: $160,492Net Income 2015: -$54,3512015Revenue 2016: $76,645Expenses 2016: $92,272Net Income 2016: -$15,6272016Revenue 2017: $76,487Expenses 2017: $102,202Net Income 2017: -$25,7152017Revenue 2018: $96,251Expenses 2018: $101,179Net Income 2018: -$4,9282018Revenue 2019: $119,977Expenses 2019: $94,235Net Income 2019: $25,7422019Revenue 2020: $77,176Expenses 2020: $76,240Net Income 2020: $9362020Revenue 2021: $70,153Expenses 2021: $76,361Net Income 2021: -$6,2082021Revenue 2022: $62,286Expenses 2022: $76,749Net Income 2022: -$14,4632022Revenue 2023: $67,963Expenses 2023: $79,722Net Income 2023: -$11,7592023Revenue 2024: $70,517Expenses 2024: $74,487Net Income 2024: -$3,9702024

Highlighted filing

2024

Revenue$70,517
Expenses$74,487
Net Income-$3,970
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$382,092
Liabilities
$36,006
Net assets
$346,086
Revenue
$70,517
Expenses
$74,487
Net income
-$3,970
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.82$0.36$3.46$0.71$0.74$0.04
2023Summary only. Only limited summary data is available for this year.$3.78$0.37$3.41$0.68$0.80$0.12
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.34$0.42$3.91$0.62$0.77$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.11$0.40$4.71$0.70$0.76$0.06
2020Summary only. Only limited summary data is available for this year.$5.33$0.46$4.87$0.77$0.76$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.21$0.42$4.79$1.20$0.94$0.26
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.93$0.78$5.15$0.96$1.01$0.05
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.53$1.16$5.38$0.76$1.02$0.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.29$1.03$6.26$0.77$0.92$0.16
2015Summary only. Only limited summary data is available for this year.$7.39$0.68$6.71$1.06$1.60$0.54
2014Summary only. Only limited summary data is available for this year.$8.55$0.77$7.78$0.82$1.45$0.62
2013Summary only. Only limited summary data is available for this year.$9.18$0.53$8.65$1.15$1.28$0.13
2012Summary only. Only limited summary data is available for this year.$9.37$0.69$8.69$1.10$0.94$0.16
2011Summary only. Only limited summary data is available for this year.$9.17$0.92$8.26$0.52$1.65$1.13
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 2, 2023
Return Version
2022v5.0
Gross Receipts
$62,286
Mission and Program Overview

Mission

Reinsurance provider for the medical professional liability insurance risks from an unrelated primary insurer in the united states of america

Reinsurance provider for the medical professional liability risk from an unrelated primary insurer in the united states of america.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$348,978$293,813▼ $55,165
Cash and Non-Interest-Bearing Accounts$333,682$264,964▼ $68,718
Pd in Cap Srpls Land Bldg Eqp Fund$122,429$97,429▼ $25,000
Savings and Temporary Cash Investments$93,596$93,721▲ $125
Investments in Publicly Traded Securities$83,822$73,737▼ $10,085
Prepaid Expenses and Deferred Charges-$1,126-
Cap Stk Tr Prin Current Funds$5$5→ $0
Total Assets$511,100$433,548▼ $77,552
Liabilities
Other Liabilities$18,001$21,911▲ $3,910
Accounts Payable and Accrued Expenses$21,687$20,390▼ $1,297
Total Liabilities$39,688$42,301▲ $2,613
Net Assets / Fund Balance
Total Net Assets Fund Balance$471,412$391,247▼ $80,165
Total Liabilities and Net Assets / Fund Balance$511,100$433,548▼ $77,552
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
Jeffrey Vaughn LeavertonDirector
Julie Nicole AlbertDirector
S Gary WerleyDirector
-Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$60,086
Investment Income
$2,200
Other Revenue
$0
Change in Net Assets
$-14,463

Audited Revenue Reconciliation

Revenue per Audited Statements
$62,286
Revenue Not Reported on Form 990
$-47,702
Total Revenue per Audited Statements
$14,584
Total Revenue per Form 990
$62,286
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$76,749
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$35,000
Fees for Services Accounting---$20,794
Other Expenses---$12,337
Fees for Services Legal---$5,663
Fees for Services Other---$1,666
Interest---$1,289
Total Functional Expenses$0$0$0$76,749

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$76,749
Expenses per Audited Statements$39,132
Total Expenses per Audited Statements$39,132
Expenses Not Reported on Financial Statements$37,617
Other Expense Adjustments$37,617
International Activity

International Summary

Offices
1
Employees
1
Spending
$76,749

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanProgram ServicesInsurance11$76,749
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Premiums Received in Advance$18,001
Claims and Claims Handling Expense$3,910
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI

“Form 990, part vi, section c, line 19: how documents are made available to the public the governing documents and financial statements are available upon”

Form 990, Page 6, Part VI, Line 6

“Members or stockholders the organization's members are those owning shares of the corporation. Every person whose name is entered as a member in the register of members, shall be entitled to one vote at the general meeting for each share registered in his or her name. Members may vote on action to be taken by the governance board at the annual meeting.”

Form 990, Page 6, Part VI, Line 7A

“Refer to form 990, part vi, section a, line 6 narrative”

Form 990, Page 6, Part VI, Line 7B

“Refer to form 990, part vi, section a, line 6 narrative”

Form 990, Page 6, Part VI, Line 11B

“Form 990 review the form 990 is prepared by an independent accounting firm. The draft 990 is provided to, and reviewed by, the signing director before filing with the irs.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Southwest Professional Indemnity Co
EIN
98-0047386
Phone
3459491599
Address
CJ

Signing Officer

Name
S Gary Werley
Title
Director
Phone
3459491599
Signed
2023-11-02

Organization Details

Principal Officer
S Gary Werley
Formed
1980
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Rh Cpas Pllc
Address
212 W CENTER ST, LEXINGTON, NC 27292-3012
Preparer
Leon L Rives Ii
Phone
3362488281
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Reinsurance provider for the medical professional liability insurance risks from an unrelated primary insurer in the united states of america”

Form 990, Part V, Line 4B

“CAYMAN ISLANDS”

Form 990, Part XI, Line 9

“Redemption of capital -18,000 claims expense -37,617 total -55,617”

Financial Statement Notes

Schedule D, Page 3, Part X

“Fin 48 (asc 740) footnote the company has made an irrevocable election under code section 953(c)(3)(c) of the internal revenue code to be treated as a domestic insurance company for united states federal income tax purposes. As a result, the company, rather than the united states shareholders, will be taxed. The company has been granted taxexempt status under code section 501(c)(15). The company should maintain tax exempt status as long as gross receipts do not exceed 600,000 per annum, of which more than 50% consists of insurance premiums, and the company maintains an irrevocable letter of credit in favor of the irs in the amount of 75,000. For the years ended 31 december 2022 and 2021 the company was in compliance with these requirements and no provision for united states federal income taxes has been recorded. At present, no income, profit or capital gains are levied in the cayman islands, and accordingly, no provision for such taxes is recorded in the accompanying financial statements. In the event that such taxes are levied, the company has received an undertaking from the cayman islands government exempting it from all such taxes until 1 july 2041.”

Schedule D, Page 4, Part XI, Line 2D

“CLAIMS HANDLING -37,617”

Schedule D, Page 4, Part XII, Line 4B

“CLAIMS HANDLING 37,617”

Raw XML Appendix303 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt021687
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt020390
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY RISK FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA.
IRS990/BooksInCareOfDetail/ForeignAddress/AddressLine1Txt0PO BOX 453
IRS990/BooksInCareOfDetail/ForeignAddress/CityNm0GRAND CAYMAN
IRS990/BooksInCareOfDetail/ForeignAddress/CountryCd0CJ
IRS990/BooksInCareOfDetail/ForeignAddress/ForeignPostalCd0KY1-9006
IRS990/BooksInCareOfDetail/ForeignAddress/ProvinceOrStateNm0CAYMANS
IRS990/BooksInCareOfDetail/PersonNm0ADVANTAGE INT'L MGMT CAYMAN
IRS990/BooksInCareOfDetail/PhoneNum03459491599
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt05
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt05
IRS990/CashNonInterestBearingGrp/BOYAmt0333682
IRS990/CashNonInterestBearingGrp/EOYAmt0264964
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConflictOfInterestPolicyInd0false
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt02200
IRS990/CYOtherExpensesAmt076749
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt060086
IRS990/CYRevenuesLessExpensesAmt0-14463
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt076749
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt062286
IRS990/DecisionsSubjectToApprovaInd0true
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/Desc0INSURANCE - GROSS RECEIPTS DURING THE YEAR ENDED DECEMBER 31, 2022, WERE 60,086. THE COMPANY'S PREMIUMS RECEIVED DURING THE YEAR ENDED DECEMBER 31, 2022, WERE 42,085, WHICH EXCEEDED 50% OF THEIR TOTAL RECEIPTS, THEREBY SATISFYING THE TAX EXEMPT STATUS REQUIREMENTS OF INTERNAL REVENUE SERVICE CODE SECTION 501(C)(15)(A).
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt00
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt020794
IRS990/FeesForServicesLegalGrp/TotalAmt05663
IRS990/FeesForServicesManagementGrp/TotalAmt035000
IRS990/FeesForServicesOtherGrp/TotalAmt01666
IRS990/ForeignActivitiesInd0true
IRS990/ForeignCountryCd0CJ
IRS990/ForeignFinancialAccountInd0true
IRS990/ForeignOfficeInd0true
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt0ADVANTAGE INT'L MGMT
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/PersonNm0JULIE NICOLE ALBERT
IRS990/Form990PartVIISectionAGrp/PersonNm1JEFFREY VAUGHN LEAVERTON
IRS990/Form990PartVIISectionAGrp/PersonNm2S GARY WERLEY
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01980
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt062286
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt03
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/TotalAmt01289
IRS990/InvestmentIncomeGrp/ExclusionAmt02200
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02200
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt083822
IRS990/InvestmentsPubTradedSecGrp/EOYAmt073737
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileCountryCd0CJ
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY INSURANCE RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0471412
IRS990/NetAssetsOrFundBalancesEOYAmt0391247
IRS990/NetUnrlzdGainsLossesInvstAmt0-10085
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0-55617
IRS990/OtherExpensesGrp/Desc0GOVERMENT FEES
IRS990/OtherExpensesGrp/TotalAmt012337
IRS990/OtherLiabilitiesGrp/BOYAmt018001
IRS990/OtherLiabilitiesGrp/EOYAmt021911
IRS990/PartialLiquidationInd0false
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0122429
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt097429
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01126
IRS990/PrincipalOfficerNm0S GARY WERLEY
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525190
IRS990/ProgramServiceRevenueGrp/Desc0INSURANCE PREMIUMS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt060086
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt060086
IRS990/ProgSrvcAccomActyOtherGrp/Desc0REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY INSURANCE RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt063
IRS990/PYOtherExpensesAmt037374
IRS990/PYProgramServiceRevenueAmt070090
IRS990/PYRevenuesLessExpensesAmt0-6208
IRS990/PYSalariesCompEmpBnftPaidAmt038987
IRS990/PYTotalExpensesAmt076361
IRS990/PYTotalRevenueAmt070153
IRS990/ReconcilationRevenueExpnssAmt0-14463
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0348978
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0293813
IRS990/SavingsAndTempCashInvstGrp/BOYAmt093596
IRS990/SavingsAndTempCashInvstGrp/EOYAmt093721
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt037617
IRS990ScheduleD/ExpensesSubtotalAmt039132
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-10085
IRS990ScheduleD/OtherExpensesNotIncludedAmt037617
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018001
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13910
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREMIUMS RECEIVED IN ADVANCE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CLAIMS AND CLAIMS HANDLING EXPENSE
IRS990ScheduleD/OtherRevenueAmt0-37617
IRS990ScheduleD/RevenueNotReportedAmt0-47702
IRS990ScheduleD/RevenueSubtotalAmt062286
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 (ASC 740) FOOTNOTE THE COMPANY HAS MADE AN IRREVOCABLE ELECTION UNDER CODE SECTION 953(C)(3)(C) OF THE INTERNAL REVENUE CODE TO BE TREATED AS A DOMESTIC INSURANCE COMPANY FOR UNITED STATES FEDERAL INCOME TAX PURPOSES. AS A RESULT, THE COMPANY, RATHER THAN THE UNITED STATES SHAREHOLDERS, WILL BE TAXED. THE COMPANY HAS BEEN GRANTED TAXEXEMPT STATUS UNDER CODE SECTION 501(C)(15). THE COMPANY SHOULD MAINTAIN TAX EXEMPT STATUS AS LONG AS GROSS RECEIPTS DO NOT EXCEED 600,000 PER ANNUM, OF WHICH MORE THAN 50% CONSISTS OF INSURANCE PREMIUMS, AND THE COMPANY MAINTAINS AN IRREVOCABLE LETTER OF CREDIT IN FAVOR OF THE IRS IN THE AMOUNT OF 75,000. FOR THE YEARS ENDED 31 DECEMBER 2022 AND 2021 THE COMPANY WAS IN COMPLIANCE WITH THESE REQUIREMENTS AND NO PROVISION FOR UNITED STATES FEDERAL INCOME TAXES HAS BEEN RECORDED. AT PRESENT, NO INCOME, PROFIT OR CAPITAL GAINS ARE LEVIED IN THE CAYMAN ISLANDS, AND ACCORDINGLY, NO PROVISION FOR SUCH TAXES IS RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. IN THE EVENT THAT SUCH TAXES ARE LEVIED, THE COMPANY HAS RECEIVED AN UNDERTAKING FROM THE CAYMAN ISLANDS GOVERNMENT EXEMPTING IT FROM ALL SUCH TAXES UNTIL 1 JULY 2041.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CLAIMS HANDLING -37,617
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2CLAIMS HANDLING 37,617
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
IRS990ScheduleD/TotalExpensesPerForm990Amt076749
IRS990ScheduleD/TotalLiabilityAmt021911
IRS990ScheduleD/TotalRevenuePerForm990Amt062286
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt014584
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt039132
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt076749
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0CENTRAL AMERICA AND THE CARIBBEAN
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0INSURANCE
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0false
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalEmployeesCnt01
IRS990ScheduleF/SubtotalOfficesCnt01
IRS990ScheduleF/SubtotalSpentAmt076749
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0CENTRAL AMERICA AND THE CARIBBEAN 76,749 0
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PAGE 1, PART I, LINE 3
IRS990ScheduleF/TotalEmployeeCnt01
IRS990ScheduleF/TotalOfficeCnt01
IRS990ScheduleF/TotalSpentAmt076749
IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REINSURANCE PROVIDER FOR THE MEDICAL PROFESSIONAL LIABILITY INSURANCE RISKS FROM AN UNRELATED PRIMARY INSURER IN THE UNITED STATES OF AMERICA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CAYMAN ISLANDS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990, PART VI, SECTION C, LINE 19: HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERS OR STOCKHOLDERS THE ORGANIZATION'S MEMBERS ARE THOSE OWNING SHARES OF THE CORPORATION. EVERY PERSON WHOSE NAME IS ENTERED AS A MEMBER IN THE REGISTER OF MEMBERS, SHALL BE ENTITLED TO ONE VOTE AT THE GENERAL MEETING FOR EACH SHARE REGISTERED IN HIS OR HER NAME. MEMBERS MAY VOTE ON ACTION TO BE TAKEN BY THE GOVERNANCE BOARD AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REFER TO FORM 990, PART VI, SECTION A, LINE 6 NARRATIVE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5REFER TO FORM 990, PART VI, SECTION A, LINE 6 NARRATIVE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FORM 990 REVIEW THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE DRAFT 990 IS PROVIDED TO, AND REVIEWED BY, THE SIGNING DIRECTOR BEFORE FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8REDEMPTION OF CAPITAL -18,000 CLAIMS EXPENSE -37,617 TOTAL -55,617
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART V, LINE 4B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0511100
IRS990/TotalAssetsEOYAmt0433548
IRS990/TotalAssetsGrp/BOYAmt0511100
IRS990/TotalAssetsGrp/EOYAmt0433548
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt076749
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt039688
IRS990/TotalLiabilitiesEOYAmt042301
IRS990/TotalLiabilitiesGrp/BOYAmt039688
IRS990/TotalLiabilitiesGrp/EOYAmt042301
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0471412
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0391247
IRS990/TotalProgramServiceRevenueAmt060086
IRS990/TotalRevenueGrp/ExclusionAmt02200
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt060086
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt062286
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0511100
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0433548
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0S GARY WERLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03459491599
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHWEST PROFESSIONAL INDEMNITY CO
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0980047386
ReturnHeader/Filer/ForeignAddress/AddressLine1Txt0PO BOX 453
ReturnHeader/Filer/ForeignAddress/CityNm0GRAND CAYMEN
ReturnHeader/Filer/ForeignAddress/CountryCd0CJ
ReturnHeader/Filer/ForeignAddress/ForeignPostalCd0KY1-9006
ReturnHeader/Filer/ForeignAddress/ProvinceOrStateNm0GRAND CAYMAN ISLA
ReturnHeader/Filer/PhoneNum03459491599
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0200427530
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RH CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0212 W CENTER ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEXINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0272923012
ReturnHeader/PreparerPersonGrp/PhoneNum03362488281
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEON L RIVES II
ReturnHeader/ReturnTs02023-11-14T15:55:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0S GARY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WERLEY
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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