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www.demotech.com
Volume 3 Issue 2
May 2013
Demotech, Inc.
Analysis of Risk Retention Groups
Year-End 2012
®
Contents
Analysis of Risk Retention Groups
May 2013
Volume 3
Issue 2
The following articles and columns complement the financial data found in this issue of Analysis of Risk Retention Groups:
3
Opening Remarks
FEATURED ARTICLE
5
RRGs Report Financially Stable Results at
Year-End 2012
By Douglas A. Powell, Senior Financial Analyst, Demotech, Inc.
SPECIAL ANNOUNCEMENT
Risk Retention Reporter and Demotech
10 Partner to Release Supplemental Publication
INDUSTRY PERSPECTIVE
INDUSTRY PERSPECTIVE
Circuit Court Upholds Preemption
11 Ninth
of Most State Regulation Over RRGs
By Joseph Deems, Executive Director, National Risk Retention Association
12 RRG Growth Trends in 2012 and Beyond
By Karrie Hyatt, Managing Editor, Risk Retention Reporter
Purpose Driven Portfolio - Part 2
13 A
By Josh Magden, Vice President of Insurance and Institutional Marketing,
Sage Advisory Services
LEGAL PERSPECTIVE
Liability Risk Retention Act’s Preemption of State Law
14 The
By W. Burke Coleman, Esq., Legal Counsel and Compliance Manager,
Demotech, Inc.
REGULATORY PERSPECTIVE
15 By Lewis Bivona, Jr., Insurance Practice Leader, WithumSmith+Brown, PC
How RRGs Can Weather Risk Focused Examinations
Information and
19 Company
Financial Results of RRGs
Additional Analysis of RRGs Assigned
69 an FSR
In-depth financial analysis for RRGs assigned a Financial Stability
Rating®. The company profile pages provided courtesy of SNL Financial
and used with their permission.
ISSN 2168-7013 (online)
Published May 3, 2013
COPYRIGHT©
2013 Demotech, Inc.
Special thank you to the following people for their
contributions, comments and commitment:
Lewis Bivona, Jr., CPA, AFE | Insurance Practice
Leader,
WithumSmith+Brown, PC
W. Burke Coleman | Legal Counsel
and Compliance Manager,
Demotech, Inc.
James Cutts | Publisher,
Risk Retention Reporter
Joseph Deems | Executive Director,
National Risk Retention Association
Melissa-Anne Duncan | Executive Director,
Insurance Industry Charitable Foundation
Keith Enslow | Senior Program Manager,
SNL Center for Financial Education
Karrie Hyatt | Managing Editor,
Barry Koestler | Chief Ratings Officer,
Demotech, Inc.
Josh Magden | Vice President of
Insurance and Institutional Marketing,
Mechlin Moore | Communications Director,
Paul Osborne | Senior Consultant,
Demotech, Inc.
The ratios, percentages and calculations
contained herein have been compiled from
data considered reliable or are expressions
of opinion. They are not intended to
be complete, and we do not assume
responsibility for the accuracy of the data
prepared or provided by others. No ratio or
other presentation herein constitutes or shall
be considered as a recommendation to enter
in a contractual relationship, is meant as an
offer to sell dispose of any securities, or is a
solicitation to buy the securities of any of the
companies included in the listing.
®
Opening Remarks
Analysis of Risk Retention Groups – Year-End 2012
Welcome to the second issue of 2013. Based on feedback I have received, you will notice that
more financial statement results as well as more key performance ratios are presented in this
issue. Although we look at many other indicators and metrics, I believe this will give the reader a
better understanding of some of the key indicators we assess in determing the financial stability
of RRGs.
Analysis of Risk Retention Groups – Year-End 2012 contains expert analysis from Demotech,
Inc. as well as perspective on other topics pertaining to RRGs from other industry experts. If you
would like to be a contributing columnist for a future issue of Analysis of Risk Retention Groups,
please contact me with the nature of your proposed article.
I would like to point out a special announcement on page 10. Demotech recently partnered with
Risk Retention Reporter to create the Market Analysis and Financial Stability Supplement. The
Supplement will add to this analysis and will include a review of the state of the RRG marketplace.
As always, I hope you find this information applicable and informative. If you have any questions,
comments or suggestions, please contact me at dpowell@demotech.com. Also, you can follow
me on Twitter, @powdoug, or connect with me on LinkedIn, www.linkedin.com/in/powdoug.
Thank you,
nk you,
Douglas A. Powell | Senior Financial Analyst, Demotech, Inc.
Zap this to discover the benefits of being
assigned a Financial Stability Rating®.
®
Insurance Industry Charitable Foundation
HELPING COMMUNITIES. ENRICHING LIVES. TOGETHER.
Mission
The Insurance Industry Charitable Foundation helps communities and enriches lives by combining
the collective strengths of the industry to provide grants, volunteer service and leadership.
Who We Serve and How
Through collaborative efforts of insurance companies, reinsurance companies, employees, agents
and brokers, and strategic partners of the industry, the Foundation supports programs that focus on
education, health, and safety. Within such areas, special focus is placed on organizations serving children.
Grants
The Foundation exists to provide and generate support for designated charitable organizations that
help to meet critical community needs and to reinvest funds in the communities from which they
are raised.
To date, the Industry Foundation has awarded over $18 million in community grants.
IICF Week of Giving
Since 1998, the Insurance Industry Charitable Foundation has hosted Volunteer Week – the largest
ongoing volunteer initiative in the insurance industry. Volunteer Week 2011 marked our largest
event to date with participation in eighteen states across the country. The Foundation is proud to
expand its legacy of volunteerism in 2012 with the launch of IICF Week of Giving. During IICF
Week of Giving, industry professionals from coast to coast will come together in a dedicated week
of volunteer service and giving.
Over 155,000 hours of volunteer service have been completed for community nonprofits.
National Foundation Advisory Board
In the effort to strengthen the collective philanthropic voice of the industry, the Foundation has
developed the National Advisory Board comprised of insurance foundation leaders from across the
Industry.
National Initiative
In partnership with the National Advisory Board, the Foundation is in the process of evaluating
proposals for an industry-wide national initiative and platform. Together, the Foundation and the
National Advisory Board will work to rally the industry to raise national awareness and provide
financial support for the selected initiative.
McKinsey and Company Collaboration
The Foundation and the National Advisory Board have proudly collaborated with McKinsey and
Company to quantify the insurance industry’s philanthropic efforts. With advisement from the
IICF, McKinsey produced the report “Charitable Giving in The Property-Casualty Insurance Industry” .
This report provides the first comprehensive review of the industry’s charitable contributions.
Women in Insurance Global Conference
The Foundation is proud to announce the Women in Insurance Global Conference. The
conference, running June 12-14, 2013 at the Marriott Marquis in New York City, will bring together
some of the most distinguished woman and leaders of the industry. The forward-thinking event
will celebrate the leadership of the extraordinary women within the industry and explore the
opportunities for the future growth and success.
With your support and involvement we can unite industry resources, talents and
leadership to strengthen communities and enrich lives by raising funds and
responding to the critical needs in our local communities.
We hope you will join us!
National Office
2121 N. California Blvd.,
Suite 555
Walnut Creek, CA 94596
Phone: 925-280-8009
Fax: 925-280-8059
www.iicf.org
contact@iicf.com
FEIN: 20-1240972
RRGs Report Financially Stable Results
at Year-End 2012
Featured
Article
Financial analysis of Risk Retention Groups based on reported historical results through year-end 2012.
Douglas A Powell | Senior Financial Analyst, Demotech, Inc.
In reviewing the reported financial results of
risk retention groups (RRGs), one gets the
impression that this is a group of insurers
with a great deal of financial stability.
Based on year-end 2012 reported financial
information, RRGs continue to collectively
provide specialized coverage to their
insureds. Over the past five years, RRGs have remained
committed to maintaining adequate capital to handle losses.
It is important to note that ownership of an RRG is restricted
to the policyholders of the RRG. This unique ownership
structure required of RRGs may be a driving force in the
strengthened capital position exhibited by RRGs.
Since RRGs are restricted to liability coverage, they tend
to insure medical providers, product manufacturers, law
enforcement officials and contractors, as well as other
professional industries.
While RRGs reported direct
premium written in eleven lines of business in 2012, more
than 50 percent of this premium was contained in the medical
professional liability lines.
Balance Sheet Analysis
Comparing the last five years of results, cash and invested
assets, total admitted assets and policyholders’ surplus have
all continued to increase at a faster rate than total liabilities
(figure 1). The level of policyholders’ surplus becomes
increasingly important in times of difficult economic
conditions, as properly capitalized insurers can remain
solvent while facing uncertain economic conditions.
Since 2008, cash and invested assets increased 40.5 percent
and total admitted assets increased 33.9 percent. More
importantly, over a five year period from 2008 through
2012, RRGs collectively increased policyholders’ surplus
71.5 percent. This increase represents the addition of more
than $1.4 billion to policyholders’ surplus. During this same
time period, liabilities increased only 13.7 percent, slightly
more than $500 million. These reported results indicate that
RRGs collectively are adequately capitalized and able to
remain solvent if faced with adverse economic conditions or
increased losses.
Liquidity, as measured by liabilities to cash and invested
assets, for year-end 2012 was approximately 65.4 percent.
A value less than 100 percent is considered favorable as it
indicates that there was more than $1 of net liquid assets
for each $1 of total liabilities. This also indicates an
improvement for RRGs collectively as liquidity was reported
at 69.5 percent at year-end 2011. Moreover, this ratio has
improved steadily each of the last five years.
Loss and loss adjustment expense (LAE) reserves represent
the total reserves for unpaid losses and unpaid LAE. This
includes reserves for any incurred but not reported losses as
well as supplemental reserves established by the company.
The cash and invested assets to loss and LAE reserves ratio
measures liquidity in terms of the carried reserves. The cash
and invested assets to loss and LAE reserves ratio for yearend 2012 was 236.9 percent and indicates an improvement
over 2011, as this ratio was 214 percent. These results
indicate that RRGs remain conservative in terms of liquidity.
In evaluating individual RRGs, Demotech, Inc. prefers
companies to report leverage of less than 300 percent.
Leverage for all RRGs, as measured by total liabilities to
policyholders’ surplus, for year-end 2012 was 123.3 percent.
This indicates an improvement for RRGs collectively as
leverage was reported at 138.4 percent at year-end 2011.
The loss and LAE reserves to policyholders’ surplus ratio for
year-end 2012 was 79.7 percent and indicates an improvement
over 2011, as this ratio was 93 percent. The higher the ratio
of loss reserves to surplus, the more an insurer’s stability is
dependent on having and maintaining reserve adequacy.
In regards to RRGs collectively, the ratios pertaining to the
balance sheet appear to be appropriate.
Figure 1 - RRG Balance Sheet Metrics
(In Billions)
$9 Short‐term Assets
$8 Net Admitted Assets
Liabilities
$7 Policyholders Surplus
$6 $5 $4 $3 $2 $1 $‐
2008
2009
2010
2011
2012
®
Premium Written Analysis
RRGs collectively reported $2.6 of billion direct premium
written (DPW) at year-end 2012, an increase of nearly
5 percent over 2011. RRGs reported $1.3 billion of net
premium written (NPW) at year-end 2012, an increase of
3.7 percent over 2011. These increases are favorable and
reasonable.
The DPW to policyholders’ surplus ratio for RRGs
collectively for year-end 2012 was 74.3 percent and indicates
an improvement over 2011, as this ratio was 78.1 percent.
The NPW to policyholders’ surplus ratio for RRGs for yearend 2012 was 36.6 percent and indicates an improvement
over 2011, as this ratio was 38.9 percent.
An insurer’s DPW to surplus ratio is indicative of its
policyholders’ surplus leverage on a direct basis, without
consideration for the effect of reinsurance. An insurer’s
NPW to surplus ratio is indicative of its policyholders’
surplus leverage on a net basis. An insurer relying heavily
on reinsurance will have a large disparity in these two ratios.
A DPW to surplus ratio in excess of
600 percent would subject an individual
RRG to greater scrutiny during the
financial review process. Likewise, a
NPW to surplus ratio greater than 300
percent would subject an individual RRG
to greater scrutiny. In certain cases,
premium to surplus ratios in excess of
those listed would be deemed appropriate
if the RRG had demonstrated that a
contributing factor to the higher ratio is
relative improvement in rate adequacy.
Figure 2 - RRG Income
(In Millions)
$350
$300
$250
$200
$150
Underwriting Income
$100
Investment Income
$50
Net Income
$0
2008
2009
2010
2011
2012
59.6 percent. This ratio is a measure an insurer’s underlying
profitability on its book of business.
The expense ratio, as measured by other underwriting
expenses incurred to net premiums written, for year-end
2012 was 28.8 percent and was comparable to 2011, as the
expense ratio was reported at 28 percent. This ratio measurers
an insurer’s operational efficiency in
underwriting its book of business.
The year-end
The combined ratio, loss ratio plus expense
results of RRGs ratio, for year-end 2012 was 84.5 percent
indicates an improvement over 2011,
indicate that these and
as the combined ratio was reported at 87.6
This ratio measures an insurer’s
specialty insurers percent.
overall underwriting profitability. A
continue to
combined ratio of less than 100 percent
exhibit financial indicates an underwriting profit.
Regarding RRGs collectively, the ratios
stability.
pertaining to income statement analysis
In regards to RRGs collectively, the ratios
pertaining to premium written appear to be conservative.
Income Statement Analysis
The profitability of RRG operations remains positive (figure
2). RRGs reported an aggregate underwriting gain for 2012
of nearly $181 million, an increase of 19.7 percent over
the prior year, and a net investment gain of nearly $221
million, an increase of 6.7 percent over the prior year. RRGs
collectively reported net income of over $324 million, an
increase of 8.6 percent over the prior year. Looking further
back, RRGs have collectively reported an underwriting gain
since 2004 and positive net income at each year-end since
1996.
The loss ratio for RRGs collectively, as measured by losses
and loss adjustment expenses incurred to net premiums
earned, for year-end 2012 was approximately 55.7 percent
and indicates an improvement over 2011, as the loss ratio was
appear to be appropriate. Moreover,
these ratios have remained fairly stable each of the last five
years and well within a profitable range (figure 3).
Figure 3 - RRG Ratios - Total
100%
90%
Combined Ratio
Loss Ratio
2010
2011
Expense Ratio
80%
70%
60%
50%
40%
30%
20%
10%
0%
2008
2009
2012
®
Figure 4 - Key Ratios and
Metrics - 12/31/12
No. of
RRGs
Liquidity
Cash/
Losses &
LAE Res.
Leverage
Losses &
LAE Res./
PHS
DPW/
PHS
NPW/
PHS
Loss Ratio
Expense
Ratio
Combined
Ratio
One Year
Loss Dev./
PHS
Two Year
Loss Dev./
PHS
Net
Underwriting
Gain (Loss)
Net
Investment
Gain (Loss)
Net
Income
(Loss)
Commercial Auto
19
90.3%
206.5%
172.7%
92.7%
143.8%
67.9%
69.2%
26.7%
95.9%
0.0%
0.0%
$1.1M
$4.6M
$4.9M
Medical Professional
(Claims-made)
128
69.1%
229.3%
136.6%
86.2%
75.7%
43.3%
53.6%
27.6%
81.2%
-4.8%
-8.4%
$139.4M
$116.9M
$206.8M
Medical Professional
(Occurrence)
10
82.7%
166.7%
156.6%
113.5%
99.5%
48.9%
79.7%
11.9%
91.6%
0.0%
0.0%
$4.2M
$12.0M
$18.4M
Other (Claims-made)
47
45.7%
351.6%
70.6%
43.9%
72.4%
20.4%
44.4%
36.0%
80.4%
-1.9%
-3.8%
$40.1M
$54.5M
$68.6M
Other (Occurrence)
38
74.2%
189.1%
172.7%
123.0%
67.7%
37.5%
65.4%
34.6%
100%
-1.3%
-1.5%
-$9.2M
$31.4M
$21.0M
Loss and Loss Adjustment Expense Reserve Analysis
Analysis by Primary Lines of Business
A key indicator of management’s commitment to financial
stability, solvency and capital adequacy is their desire and
ability to record adequate loss and loss adjustment expense
reserves (loss reserves) on a consistent basis. Adequate
loss reserves meet a higher standard than reasonable loss
reserves. Demotech views adverse loss reserve development
as an impediment to the acceptance of the reported value
of current, and future, surplus and that any amount of
adverse loss reserve development on a consistent basis is
unacceptable. Consistent adverse loss development may
be indicative of management’s inability or unwillingness to
properly estimate ultimate incurred losses.
The financial ratios calculated based on the year-end results of
the various primary lines of business appear to be reasonable
(figure 4). Also, the RRGs have continued to report changes
in DPW within a reasonable threshold (figure 5). It is typical
for insurers’ financial ratios to fluctuate year over year.
Moreover, none of the reported results are indicative of a
continuing negative trend.
RRGs collectively have reported adequate loss reserves
at year-end 2012 as exhibited by the one-year and twoyear loss development results. The loss development to
policyholders’ surplus ratio measures reserve deficiency
or redundancy in relation to policyholder surplus and the
degree to which surplus was either overstated, exhibited by
a percentage greater than zero, or understated, exhibited by a
percentage less than zero.
The one-year loss development to prior year’s policyholders’
surplus for 2012 was -7.2 percent and indicates an
improvement over 2011, as this ratio was reported at -6
percent. The two-year loss development to second prior
year-end policyholders’ surplus for 2012 was -12.2 percent
and indicates a diminishment over 2011, as this ratio was
reported at -14.1 percent.
In regards to RRGs collectively, the ratios pertaining to loss
reserve analysis appear to be favorable.
Figure 5- Direct Premium Written by Lines of Business
(000’s omitted)
Line of Business
Boiler & Machinery
Comm'l Auto Liab
Fidelity
Med Prof Liab (Claims Made)
Med Prof Liab (Occurrence)
Oth Liab (Claims)
Oth Liab (Occurrence)
Other P&C
Product Liab (Claims)
Product Liab (Occ)
Total
DPW
12/31/12
731
118,029
9,812
1,307,747
135,916
675,951
343,105
1,707
1,668
2,307
2,596,974
DPW
12/31/11
757
101,678
9,847
1,263,731
126,002
676,354
295,876
1,262
1,435
1,622
2,478,566
DPW
12/31/10
656
112,588
9,841
1,277,284
106,754
656,948
297,928
1,093
1,316
681
2,465,088
DPW
12/31/09
187
90,542
10,512
1,275,282
108,202
718,419
320,643
1,014
1,474
0
2,526,275
Jurisdictional Analysis
Much like insurers, it is typical for jurisdictions to compete
for new business. Some of the factors that may impact an
insurer’s decision to do business in a certain jurisdiction
include minimum policyholders’ surplus requirements and the
premium tax rate. RRGs have continued to report changes in
DPW, on a jurisdictional basis, within a reasonable threshold
(figure 6). (A more extensive breakout of DPW by line of
business by jurisdictions for year-end 2012 is available in
figure 7.)
Conclusions Based on 2012 Results
Despite political and economic uncertainty, RRGs remain
financially stable and continue to provide specialized
coverage to their insureds. The financial ratios calculated
based on year-end results of RRGs appear to be reasonable,
keeping in mind that it is typical for insurers’ financial ratios
to fluctuate over time.
The year-end results of RRGs indicate that these specialty
insurers continue to exhibit financial stability. It is important
to note again that while RRGs have reported net underwriting
gains and net profits, they have also continued to maintain
adequate loss reserves while increasing premium written
year over year. RRGs continue to a great deal of
financial stability.
DPW
12/31/08
0
88,739
0
1,228,567
106,662
709,548
314,715
1,384
1,828
0
2,451,443
Mr. Powell has nearly ten years of progressively
responsible experience involving financial analysis
and business consulting. Email your questions or
comments to Mr. Powell at dpowell@demotech.com.
Follow Mr. Powell on Twitter, @powdoug.
®
Figure 6 - Direct Premium Written by State (000’s omitted)
State
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
American Samoa
Guam
Puerto Rico
U.S. Virgin Islands
Northern Mariana Islands
Canada
Aggregate Other Alien
Total
DPW
12/31/12
21,560
5,014
44,315
16,619
231,371
36,309
65,368
28,550
51,354
129,798
34,858
6,395
9,120
81,536
48,606
8,212
11,693
26,988
18,118
8,327
79,510
175,261
36,119
14,660
23,457
36,523
21,802
13,289
25,494
7,007
73,736
15,137
377,271
29,470
2,050
44,153
16,892
23,074
383,853
6,480
12,511
2,350
19,828
101,805
14,207
6,405
43,270
45,756
26,779
12,369
9,266
0
433
229
911
57
242
22,516
2,608,283
DPW
12/31/11
20,059
5,047
44,732
12,677
219,391
30,629
66,426
29,654
47,049
105,430
34,978
6,136
8,754
84,963
48,116
9,679
11,995
27,436
15,504
8,089
80,665
177,153
35,532
13,790
23,508
39,325
22,607
11,035
23,901
6,724
69,924
15,251
346,761
27,996
1,814
42,793
15,992
20,913
367,620
6,448
10,332
2,290
17,536
90,096
17,328
6,926
41,660
43,278
24,901
11,734
9,046
0
419
143
911
51
263
22,220
2,485,630
DPW
12/31/10
19,096
5,480
57,684
12,106
219,134
28,693
70,706
27,238
44,168
100,734
32,651
5,208
8,925
83,252
43,586
8,443
10,986
25,643
14,602
9,204
85,696
172,156
30,159
14,782
24,033
37,449
21,848
9,807
24,325
6,065
70,133
14,863
360,028
29,581
1,520
43,392
15,711
17,820
367,165
6,397
15,369
1,976
16,737
86,918
11,803
6,667
44,435
41,454
23,959
11,100
8,054
0
421
139
923
50
130
22,229
2,472,833
DPW
12/31/09
19,050
5,753
45,569
9,922
234,037
27,841
85,992
19,773
47,507
100,634
34,258
5,071
11,515
86,594
44,935
7,972
11,678
30,647
13,172
8,977
97,659
176,098
28,900
12,719
25,576
39,353
19,413
8,350
25,044
6,150
70,227
14,146
364,920
27,036
1,442
46,347
14,716
16,041
360,866
6,912
47,370
1,938
17,043
87,570
9,559
6,137
43,243
42,032
21,573
11,680
7,143
0
416
168
879
49
119
23,952
2,533,686
DPW
12/31/08
19,105
6,163
49,407
10,556
233,428
29,592
82,533
16,482
54,178
101,940
37,166
5,265
10,467
85,082
42,229
7,826
10,046
32,663
12,466
8,920
83,848
159,043
29,117
13,195
26,910
39,787
22,168
7,279
28,109
6,370
64,888
14,488
328,736
25,709
1,566
52,616
15,597
20,692
346,719
7,857
13,070
2,059
16,211
100,305
9,883
6,222
42,369
55,351
18,742
11,972
7,478
0
402
122
916
58
119
23,284
2,458,770
®
Figure 7- Direct Premium Written by Lines of Business by State - 12/31/12
State
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
American Samoa
Guam
Puerto Rico
U.S. Virgin Islands
Northern Mariana Islands
Canada
Aggregate Other Alien
RRGs
Writing in
State
55
34
72
56
89
67
58
52
43
82
67
35
49
78
70
51
48
63
55
38
64
58
60
49
46
61
43
45
64
47
82
50
89
68
27
79
58
58
104
40
61
30
63
84
44
44
75
74
50
41
38
0
2
3
4
1
2
5
Total
Boiler &
Machinery
5,097
5,199
1,850
7,843
73,652
4,922
4,594
4,629
674
4,407
11,910
2,636
1,836
40,450
33,784
8,240
3,171
6,262
8,962
5,654
17,650
23,719
15,456
39,672
12,235
16,426
1,328
4,239
15,510
7,150
29,418
1,036
13,789
30,640
2,074
16,247
14,986
9,641
67,402
4,250
3,090
464
28,588
29,555
15,565
2,276
17,577
15,988
9,867
25,723
3,457
0
0
0
0
0
0
0
730,790
Commercial
Auto Liab
1,016,312
60,470
2,113,318
9,259,492
14,269,226
706,263
796,357
412,747
650,401
1,659,506
3,375,571
211,475
184,807
1,982,561
1,320,385
413,272
432,208
843,297
3,976,715
179,618
2,213,348
190,984
1,569,268
393,403
768,996
1,636,464
1,216,277
567,315
780,793
190,968
12,971,999
443,644
2,136,693
1,257,510
55,637
1,783,285
809,949
2,281,607
15,617,037
184,564
1,014,717
56,421
1,330,158
11,159,811
4,224,637
300,954
3,943,545
4,385,894
296,733
350,732
31,590
0
0
0
0
0
0
0
118,028,934
Fidelity
0
0
73,625
0
1,477,026
151,750
99,800
0
5,225
2,550
0
0
0
307,012
0
103,500
312,300
0
0
0
988,200
1,180,580
0
5,335
0
153,000
0
28,820
0
0
570,245
0
1,796,962
0
0
0
0
0
1,872,620
0
8,578
0
0
532,997
0
0
28,080
47,800
0
66,244
0
0
0
0
0
0
0
0
9,812,249
Medical
Prof Liab
5,737,793
387,249
27,375,630
2,887,518
112,349,203
16,987,776
48,341,191
3,675,570
5,571,140
89,957,403
10,364,457
1,686,086
2,827,184
30,691,295
33,305,885
2,989,894
2,758,946
15,480,648
4,141,608
3,925,940
52,961,419
126,783,524
19,164,843
4,194,148
18,879,511
15,116,195
12,503,234
3,285,849
15,111,473
2,456,086
31,454,260
9,088,028
242,906,618
15,850,610
136,054
21,089,388
10,854,721
8,180,868
302,257,473
1,899,530
4,009,419
188,187
8,240,085
26,837,795
3,170,824
612,797
14,504,353
21,106,825
18,042,172
3,083,156
5,220,839
0
0
5,050
4,901
0
0
0
1,440,642,651
Other Liab
Claims Made
10,231,211
3,880,403
9,259,596
1,794,828
61,339,096
9,701,279
9,335,513
9,580,493
39,952,883
22,077,385
17,779,812
1,895,898
3,912,071
33,685,398
9,809,085
3,479,904
6,237,001
8,331,652
6,246,113
3,095,398
17,380,142
34,684,530
12,332,075
6,208,979
2,466,150
13,812,089
4,182,937
2,044,201
4,864,751
1,773,555
16,301,271
3,071,004
82,566,615
8,715,799
1,434,233
15,814,510
2,264,558
5,810,054
32,007,542
1,945,444
6,331,603
1,834,695
7,861,941
36,826,791
4,747,107
2,888,318
16,991,267
12,658,352
7,479,339
7,280,686
2,515,855
0
185,612
224,079
777,018
56,712
236,795
22,569,132
672,770,760
Other Liab
Occurrence
4,508,921
614,975
5,342,002
2,554,534
38,883,555
8,602,905
6,706,578
14,869,075
5,107,819
15,614,290
3,229,264
2,597,494
817,257
14,691,019
3,926,889
1,196,204
1,865,881
2,106,611
3,684,630
1,115,059
5,716,499
12,353,860
2,971,860
3,590,947
1,323,789
5,594,422
394,834
7,355,588
4,653,577
2,569,252
11,949,410
1,874,327
39,842,453
3,520,047
266,813
5,184,067
2,701,750
6,737,926
31,842,535
2,439,934
1,089,619
269,471
2,242,299
25,740,224
2,039,543
2,599,268
7,672,926
6,924,076
914,818
1,493,586
763,576
0
247,677
0
128,988
0
0
0
343,044,923
Other P&C
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,707,396
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,707,396
Product Liab
39,672
65,822
56,053
110,955
434,664
129,429
81,317
5,929
0
403,125
34,742
0
0
120,774
76,563
2,396
65,635
209,945
16,982
0
2,500
10,951
52,112
17,530
0
164,865
24,153
0
41,347
7,987
0
170,811
154,275
34,968
147,777
231,303
158,447
27,578
55,323
0
12,957
0
79,763
494,909
0
0
0
137,257
29,507
59,611
0
0
0
0
0
0
4,996
0
3,974,930
Warranty
0
0
630
0
3,210
5,400
0
0
0
24,090
7,260
0
0
8,760
13,740
0
0
0
0
0
6,750
0
0
8,130
0
0
0
0
9,300
0
0
0
0
6,180
0
0
0
0
0
0
10,500
0
0
38,460
0
0
3,690
0
0
0
0
0
0
0
0
0
0
0
146,100
Total
21,539,006
5,014,118
44,222,704
16,615,170
228,829,632
36,289,724
65,365,350
28,548,443
51,288,142
129,742,756
34,803,016
6,393,589
7,743,155
81,527,269
48,486,331
8,193,410
11,675,142
26,978,415
18,075,010
8,321,669
79,286,508
175,228,148
36,105,614
14,458,144
23,450,681
36,493,461
18,322,763
13,286,012
25,476,751
7,004,998
73,276,603
14,648,850
371,124,801
29,415,754
2,042,588
44,118,800
16,804,411
23,047,674
383,719,932
6,473,722
12,480,483
2,349,238
19,782,834
101,660,542
14,197,676
6,403,613
43,161,438
45,276,192
26,772,436
12,359,738
8,535,317
0
433,289
229,129
910,907
56,712
241,791
22,569,132
2,590,858,733
®
Risk Retention Reporter and Demotech
Partner to Release Supplemental Publication
Special Announcement
By Douglas A Powell | Senior Financial Analyst, Demotech, Inc.
The Risk Retention Reporter (RRR) and Demotech, Inc. have
partnered to create an in-depth analysis of the risk retention group
(RRG) marketplace to be published in conjunction with the Risk
Retention Reporter’s annual book, the Risk Retention Group
Directory and Guide. The Market Analysis and Financial Stability
Supplement will be available as a supplement to the 2013 edition of
the Risk Retention Group Directory and Guide. The supplement will
review the state of the RRG marketplace in the context of trends that
developed from 2008 through 2012.
“As risk retention groups have grown into a major alternative to
traditional insurance, with more than 250 companies generating
over $2.5 billion of revenue, there is increasing demand for data and
analysis of the sector’s marketplace impact and financial strength.
Our new report draws upon Demotech’s extensive expertise and
long experience in rating RRGs combined with the Risk Retention
Reporter’s in-depth reporting on industry trends,” said James Cutts,
publisher of the Risk Retention Reporter and the Risk Retention Group
Directory and Guide.
Joseph Petrelli, President of Demotech, added, “This Supplement will
help risk retention groups make informed decisions and give those
working in the risk retention group marketplace detailed data on
industry trends. It will become an important resource for RRGs and
industry analysts that want to remain leaders.”
The Supplement will have four sections:
 Section I – A review of trends by business area in the RRG
marketplace focusing on 2012 financial information in the
context of the prior five years of data.
 Section II – A review of financial stability data from 2008
through 2012.
 Section III – An in-depth look at the RRG marketplace by
business area, including trends in premium, policyholder
count and the financial stability of each sector.
 Section IV – Financial data for individual RRGs with a
comparison to industry benchmarks.
Karrie Hyatt, Editor of Risk Retention Reporter, managed the project
and Powell provided financial data and analysis.
The Market Analysis and Financial Stability Supplement will be
included as a companion to the Risk Retention Group Directory and
Guide. The CD-Rom version will contain files for both the Directory
and Supplement on a single disc. The price for either the printed
books or the CD-Rom is $445. Pre-orders can be placed online at
www.rrr.com/order.
The Supplement will add to Demotech’s quarterly analysis, Analysis of
Risk Retention Groups. “We are delighted to have partnered with the
Risk Retention Reporter to publish this new resource,” said Douglas
Powell, Senior Financial Analyst. “Combining Demotech’s analytical
capabilities and the RRR’s long-history of covering the industry will
provide the ingredients for a robust companion publication. In fact,
we believe this Supplement will become an essential reference for
anyone working in the risk retention group marketplace.”
Zap this to jump to the Risk Retention
Reporter’s online order form and order
your copy of the 2013 Edition of the Risk
Retention Group Directory and Guide.
The Market Analysis and Financial
Stability Supplement is included in the
purchase price.
Demotech Levels the Playing Field for Risk Retention Groups
Financial Stability Ratings® look beyond the size of an insurer to
evaluate stability based on insurance fundamentals.
Financial Stability Ratings® offer:
•Acceptance by Fannie Mae, Freddie Mac and HUD
•Elimination of Reinsurance Cut-Throughs
•Access to Stand-Alone Umbrella Insurance
•Premium Financing
•Errors and Omissions Insolvency Gap Coverage.
Visit www.demotech.com/FSRBenefits for more information.
®
Ninth Circuit Court Upholds Preemption of
Most State Regulation Over RRGs
Industry Perspective
By Joseph Deems | Executive Director, National Risk Retention Association
How many federal court decisions will it take to deter some states
from throwing up roadblocks to the legal operation of risk retention
groups? A few weeks ago, the Ninth Circuit Court of Appeals cited
the clear language of the Liability Risk Retention Act of 1986 (LRRA)
to declare the right of RRGs to operate free of most regulation by
states other than their state of domicile.
In this case, the Ninth Circuit affirmed a District Court ruling that
under federal law the state cannot deny an RRG the right to do business
in the state. As in other cases where states have attempted to impose
requirements on RRGs that violate federal law, the Court of Appeals
issued an unqualified opinion upholding the preemption provisions
of the LRRA. However, challenging the state was a long and costly
process that could be unaffordable for many RRGs.
In 2010, after nine years of doing business in Nevada, the Alliance of
Non-Profits for Insurance Risk Retention Group (ANI) was ordered
by then Nevada Commissioner of Insurance, Brett Barratt, to cease
writing auto liability insurance in the state as it was not an “authorized
insurer” under Nevada law. ANI won a summary judgment in the
District court finding that the LRRA preempts state regulation over
RRGs. The three-judge Appellate panel affirmed the lower court
decision stating that, “The LRRA broadly preempts any state law,
rule, regulation or order to the extent that such law, rule, regulation or
order would … make unlawful, or regulate, directly or indirectly the
operation of a risk retention group.”
The ruling in the ANI case is one in a series of court decisions
confirming the operating authority of RRGs in non-domiciliary states.
In 1992, a Pennsylvania challenge to the right of an RRG that insured
limousine companies to operate in the state was struck down under
federal preemption. In 1997, the National Risk Retention Association
(NRRA) and three RRGs won a judgment against Louisiana’s onerous
registration and fee requirements. In 2000, National Warranty
Insurance disputed an Oregon law requiring that service contract
liability insurance be written by an “authorized” insurer and secured
a ruling that the law violated the preemption provisions of the LRRA.
In 2001, the Attorney’s Liability Assurance Society and the Housing
Authority RRG challenged Michigan’s imposition of certain fees and
won. In 2008, a federal court issued a preliminary injunction against
a California Department of Insurance “cease and desist” order that
interfered with the operation of Auto Dealers RRG.
Defending the LRRA has been NRRA’s top priority for more than
25 years. We have joined with RRGs in some cases and have filed
amicus briefs in others. At the same time, we have engaged with state
governments and regulatory authorities to gain decisions favorable to
the industry without going to court. Most RRGs are small companies,
formed by individual practitioners and affiliated groups to provide
stable, affordable liability insurance to their members. Faced with the
specter of a costly court fight, it is understandable that some choose to
comply with burdensome regulation outside their home states just to
stay in business. The NRRA continues to support these companies in
their efforts to assert the right to operate without interference.
The long-term solution is to strengthen the
LRRA by putting an enforcement mechanism
into the law, arguing to legislators and
regulators that the LRRA provided a right
without a remedy.
For several years,
along with a coalition, NRRA advocated
legislation to amend the LRRA by creating
an arbitration mechanism to resolve disputes
without litigation. Unfortunately, due to the
preoccupation of Congress on other issues,
we have not mustered enough support in the
House and Senate to enact the legislation. Bills were introduced, but
they did not move as Congress focused on other matters. Amending
the act remains a priority, but until that happens, the NRRA will
continue to fight the good fight in the courts.
Clearly, the Ninth Circuit Court ruling in the ANI case is a victory
for the industry, albeit a mixed victory. The Court declined to uphold
an award of attorneys’ fees to ANI on grounds that the LRRA’s
“preemption provision did not unambiguously confer a right to be
free from state law” under the US Constitution, distinguishing in its
opinion the difference between a statutory versus a constitutional
right. While NRRA, and no doubt others, are disappointed with the
Court’s decision to deny attorneys’ fees, it is important to note that
attorneys’ fees have been granted in other cases, including Greenfield
v. National Warranty, an earlier decision by this very court. NRRA
questions the constitutional grounds cited by the Court in the ANI
case and will continue to argue for compensating legal fees that RRGs
incur when courts rule in their favor. Failure to recover attorneys’
fees is a major deterrent to smaller RRGs asserting their rights and
it encourages states to keep the pressure on RRGs to “cave-in” to
regulation that is preempted under the LRRA. The inability to recover attorneys’ fees will not deter larger risk
retention groups and associations like NRRA. We will continue to
rely on the substantive law of this very favorable decision affirming
preemption and at the same time advocate strongly for payment of
attorneys’ fees to support our right to resist unlawful overregulation
by the states.
It is just a matter of time before we will be able to persuade the
lawmakers and the courts that the individual owners of RRGs, like
all other citizens, are entitled to be free from discriminatory actions.
Meanwhile, NRRA is ready to go to court as many times as it takes to
convince states that they cannot win against the unequivocal language
of the Liability Risk Retention Act.
Mr. Deems served as a member and Secretary of the Board of
Directors of the National Risk Retention Association (NRRA)
prior to serving as Executive Director. He continues to serve as
Chairman of the NRRA Government Affairs Committee. Email your
questions or comments to Mr. Deems at joe@riskretention.org.
Visit www.nrra-usa.org for more information regarding NRRA.
®
RRG Growth Trends in 2012 and Beyond
By Karrie Hyatt | Managing Editor, Risk Retention Reporter
Examining 2012
Risk retention groups (RRGs) finished 2012 in larger numbers than
they began the year, 261 operating RRGs. Formations well out-paced
retirements in 2012, with 18 new formations and 13 retirements. The
large number of formations last year was the same number as in 2008,
at the beginning of the economic recession, when 18 RRGs were formed
and eleven retired.
After the large drop off in RRG numbers in 2009 – nine formations and
18 retirements – retirements have held steady over the last three years at
about 13 or 14. In 2012, all thirteen retirements occurred during the first
two quarters.
Nevada had the most formations in 2012 with five. However, the
domicile also lost three RRGs, for a net gain of only two RRGs. Hawaii
netted three RRGs last year, licensing three new RRGs and retiring none.
South Carolina formed two new RRGs after three years without any new
formations. Delaware also netted one new risk retention group. Tennessee,
which last licensed a new RRG in the early 1990s, and Oklahoma, which
licensed its only other RRG in 2005, each added an RRG in 2012.
Losing RRGs this year were the District of Columbia, which formed three
RRGs but retired five, as well as Montana and Vermont, which both had
net losses in RRGs, down one each. Arizona gained one RRG and lost
one.
Healthcare once again led RRG formations in 2012 with eleven, forming
nearly twice as many RRGs as the other business sectors combined.
However, the sector also lost nine RRGs, for a net of only two. Healthcare
RRG formations and retirements will likely remain volatile in the next
two or three years as the Affordable Care Act is implemented throughout
the United States. The Financial sector also gained two groups – going
from one RRG to three. Environmental and Manufacturing & Commerce
sectors both netted one new RRG each. The Leisure sector was the only
area to lose any ground as it retired one RRG.
Examining Policyholders and Insureds
RRG insureds and policyholders have been steadily rising over the last
five years, even while the market has contracted financially. In 2012,
RRG insureds reached over 459,000 and will likely surpass half a million
in 2013. RRG policyholders grew to 333,043. RRG policyholders are
the members of a risk retention group, while insureds are the number of
entities covered by those policies owned by RRG members.
The Risk Retention Reporter has only recently made the distinction
between policyholders and number of insureds and began monitoring both
individually in 2010. Between 2011 and 2012, policyholders doubled,
with much of the increase being fueled by high growth in the Government
& Institutions, Healthcare and Property Development sectors.
Government & Institutions grew from 7,090 policyholders in 2011 to
20,353 in 2012 and added two new RRGs during that period. Property
Development went from 30,390 policyholders in 2011 to 47,650 in 2012,
showing strong growth after a number of years of contraction.
Much of the exponential growth in the Healthcare sector, increasing from
97,970 policyholders in 2011 to 206,420 in 2012, was driven by the Other
Healthcare Practitioners subsector and one RRG in particular – Allied
Professionals RRG. It tripled the number of policyholders and number of
insureds between 2011 and 2012.
The number of insureds grew by 47 percent
between 2011 and 2012, increasing from
311,423 to 459,651. However, this is only
part of the story, as the number of insureds
was 232,286 in 2008. The Government &
Institutions, Healthcare, and Transportation
sectors were the key business areas driving
growth over the last few years.
Government & Institutions saw a small
contraction in insureds in 2012, declining
by 3.8 percent. However, between 2008
and 2011, the sector grew from 6,352 to 28,568. This expansion was
supported by several well-established, successful RRGs, such as United
Educators Insurance RRG and The National Catholic RRG, but was also
helped by a number of new RRGs formed during the same period.
Just as with number of policyholders, the number of insureds in the
Healthcare business area is being spurred by the Other Healthcare
Practitioners subarea. However, both the Hospitals & Affiliates and
Physicians subareas are also showing strong growth over the last five
years. Hospitals & Affiliates has grown from 33,934 in 2008 to 44,809
in 2012. Physicians has had an even more dramatic increase going from
21,557 in 2008 to 43,140 in 2012, adding nearly 5,000 new insureds
between 2011 and 2012.
In terms of premium, the Transportation sector was one of the sectors
hardest hit during the economic downturn. However, the number of
policyholders and the number of insureds has continued to grow. Growth
in insureds has been especially strong, going from 7,301 in 2008 to 18,639
last year, an increase of 131 percent. Most of the growth was between
2009 and 2010, but the sector still grew by more than 1,000 between 2011
and 2012.
Looking at 2013
As of the beginning of April, there are 256 operating RRGs. As is
usually the case in the first quarter of any year, the number of RRGs has
declined. Many RRGs close up shop at the end of the year. Then it
takes a few weeks for the news to be released and they are not counted
until after the new year. Consequently, the early part of 2013 saw the
usual loss of RRGs. Only two new RRGs have been formed so far in
2013, but a number of applications have been submitted to regulators of
several popular domiciles. 2013 is proving to be another dynamic year
for the RRG marketplace. The insurance market, as a whole, is forecast
to see growth in 2013. Changes in the healthcare and health insurance
marketplace could have wide-ranging effects on RRGs. These factors,
as well as others, have the potential to see the RRG marketplace grow,
perhaps not as enthusiastically as in the middle part of the last decade, but
definitely with solid growth.
Ms. Hyatt is the Managing Editor of the Risk Retention Reporter,
the leading journal for the risk retention marketplace. The
Risk Retention Reporter is the go-to source for risk retention
group news. Email your questions or comments to Ms. Hyatt
at khyatt@rrr.com.
For more information about the Risk
Retention Reporter and related publications, visit www.rrr.com.
®
A Purpose Driven Portfolio - Part 2
By Josh Magden | Vice President of Insurance and Institutional Marketing,
Editor’s note: Part 1 of Mr. Magden’s column was published in
Analysis of Risk Retention Groups – Third Quarter 2012. Visit http://
bit.ly/10CwbZW to read Part 1.
Last quarter, we discussed several tenets of insurance portfolio
management, in particular the risk-based capital standards that are
both prudent and generally required by regulators. In many cases, risk
retention groups (RRGs) abide by the same regulatory framework as
general carriers in their state of domicile, meaning a more prescribed
range of investments than applies to some of their self-insured brethren
such as single parent captives.
The deployment of an insurance entity’s economic capital affects all
aspects of its business operation, and the decision-making must take
into account various risks, both financial and non-financial. Financial
risks surrounding the investment portfolio include the following:
 Credit
 Duration
 Default
 Credit spread
 Liquidity
 Currency
 Interest rate risk.
Non-financial risks surrounding the investment portfolio include the
following:
 Underwriting
 Expense
 Reserving risk.
Of the aforementioned financial risks, interest rate risk – specifically
rising rates – is a concern to most fixed income investors. Yet there
appears to be little evidence that interest rates will rise in the near-term
and inflation indicators have been subdued. There are areas where
insurers need to pay attention, however, and one important area in
today’s market is credit risk. As mentioned, RRG portfolios must be
built primarily of fixed income components that conform to defined
regulatory guidelines. Indeed, aggregate 2012 P&C industry data
from SNL Financial indicates that asset allocation breaks down to
roughly 74 percent fixed income, 11 percent equity, 2 percent preferred
stock, 9 percent cash and 4 percent other. An RRG’s portfolio is often
oriented around fixed income segments such as corporate credit,
Treasuries and Agencies. (While mortgage-backed securities offer
good opportunities for insurance portfolios, they are often avoided
due to seeming complexity, a topic for a future column.) Thus it may
be presumed more likely that RRGs will first look for additional yield
within the asset classes and segments of the fixed income market that
are familiar to them.
Yields on five, ten and 30-year Treasuries
were hovering around 0.7 percent, 1.72
percent and 2.9 percent, respectively, at
mid-April 2013. Current interest rates on
government agency debt from Fannie Mae,
Freddie Mac and the Federal Home Loan
Bank are equally paltry. To be sure, there are
still some insurance portfolios today built in
2008 “bunker mentality” and are comprised
primarily of short Treasuries. There may be
less risk of capital volatility for such a portfolio,
but it puts tremendous pressure on the other areas of the economic
capital structure, most of it probably falling on premiums.
Intuitively then, in this environment an RRG may be inclined to allocate
more of its portfolio towards corporates because of the low yields in
the Treasury/Agency segments. In so doing, an RRG should be aware
that the volume of issuance today is skewing towards lower-rated
credits. Corporate issuance hit $1.4 trillion in 2012, and high yield
new issuance (credits rated lower than the BBB category) was $329
billion of that total, up from $43 billion in 2008 amidst the financial
crisis. Moreover, trading activity – an indication of what is available
for purchase in the market – is also up in the A and BBB segments (the
lower half of the investment grade universe) as shown in Securities
Industry and Financial Markets Association (SIFMA) data. The takeaway from all of this is that not only are there a greater number of
lower-rated corporate credits being issued, but the availability from
day-to-day of fixed income credits, as measured by trading volume,
reflects the same trend. Indeed, according to Morningstar data, the
average intermediate core bond fund now holds 36 percent in BBB
credits versus 22 percent just five years ago. Investors are hungry
for yield, and lower-rated issuers are willing to oblige them as they
themselves seek to take advantage of low rates.
For an RRG, the word of caution is to pay attention to the portfolio
even in territory as seemingly familiar as corporate debt. Credit risk
persists, and a portfolio’s liquidity should remain a foremost concern.
In a bond market that is providing more opportunity to buy lowerrated credits than it ever has historically, an insurer must stay vigilant
in terms of the overall credit quality of its portfolio. Markets have
proven themselves to move quickly over the past few years, and
volatility can be more pronounced. For a fixed income portfolio that
has drifted into lower rated credits in search of yield, this can lead to
more rapid risk-based capital erosion, and that becomes a dinner party
at which one is at risk of being on the menu rather than simply having
a seat at the table.
Mr. Magden serves as Vice President of Insurance & Institutional
Marketing at Sage Advisory Services working with clients including
insurance entities, public agencies and nonprofits on mission and
liability-driven portfolio solutions. Prior to joining Sage, he was a
First Vice President with George K. Baum & Company where he
spent a year on the firm’s trading desk and seven years as a banker
structuring bond issues. Email your questions or comments to Mr.
Magden at jmagden@sageadvisory.com. Visit www.sageadvisory.
com for more information about Sage Advisory Services.
®
The Liability Risk Retention Act’s Preemption
of State Law
Legal Perspective
Demotech, Inc.
By W. Burke Coleman, Esq. | Legal Counsel and Compliance Manger, Demotech, Inc.
One of the most significant legal issues facing risk retention groups
(RRGs) is their treatment by non-domiciliary states. The McCarranFerguson Act has long affirmed that states retain the authority to
regulate the “business of insurance,” but not without exception. The
Liability Risk Retention Act of 1986 (LRRA) exempts RRGs from
much state regulation. In an effort to increase the availability of liability
insurance, decrease rates, and promote competition, Congress passed
the LRRA to “eliminate state law hurdles to interstate operation.” An
RRG’s state of domicile may regulate the formation and operation of
the RRG, but non-domiciliary states have far less regulatory power and
must allow RRGs to operate within the state without discrimination.
The LRRA is intended to protect RRGs from undue interference from
state regulators but has created tension between RRGs and some nondomiciliary states.
The interplay between state regulation and the LRRA has often
involved the interpretation of two provisions in the LRRA. The
LRRA states that RRGs are exempt from any state law that would
“make unlawful, or regulate directly or indirectly, the operation of a
risk retention group… [or] discriminate against a risk retention group
or any of its members.” 15 U.S.C. § 3902(a)(1), (4). Subject to the
anti-discrimination provision, a separate provision enables states to
“specify acceptable means of demonstrating financial responsibility”
which may “include or exclude coverage obtained from an admitted
insurance company, an excess lines company, a risk retention
group…” 15 U.S.C. § 3905(d). Courts disagree as to how to apply
these provisions, with some interpreting the preemptive effects of
the LRRA broadly and others favoring the financial responsibility
exception.
In one of the earliest cases, a federal court in Pennsylvania interpreted
the anti-discrimination provision broadly and found the LRRA to
preempt a state law. In Charter Risk Retention Group Ins. Co. v. Rolka,
796 F.Supp. 154 (M.D.Pa. 1992), a Pennsylvania statute required
limousine services to have insurance from an insurer authorized to
do business in the state, thereby excluding RRGs. The state argued
that the financial responsibility exception in the LRRA controlled,
allowing it to exclude RRGs. But the Court concluded that to interpret
the exception that way would grant states “unlimited discretion to
dictate the means of demonstrating financial responsibility [and]
would render meaningless the anti-discrimination provisions of the
[LRRA].”
Reading the provisions together, the court held that a state may exclude
a particular RRG that does not meet the state’s financial responsibility
requirements but may not categorically exclude all RRGs because
such a law would be discriminatory and would be preempted by the
LRRA.
This same issue has come before the Ninth Circuit twice. In Nat’l
Warranty Ins. Co. RRG v. Greenfield, 214 F.3d 1073 (9th Cir.
2000) and again in the recent case of Alliance of Nonprofits for
Insurance, RRG v. Kipper, 2013 U.S. App. LEXIS 7042, the Ninth
Circuit employed the same analysis as the
court in Charter and similarly concluded that
the financial responsibility exception in the
LRRA allows states to exclude an RRG that is
financially unsound or otherwise dangerous to
policyholders but not to exclude all RRGs as
a group. The court explained that a state law
discriminates against RRGs if it differentiates
between insurers without an acceptable
justification.
While these courts favored the preemptive effects of the LRRA and
applied its anti-discrimination provision broadly, other courts have
taken a narrower approach to the issue, giving more weight to the
exception. In Mears Transp. Group v. Florida, 34 F.3d 1013 (11th Cir.
1994), an RRG challenged a state requirement that for-hire vehicles
purchase liability insurance from members of the Florida Insurance
Guaranty Association (FIGA). Because RRGs are not eligible to
participate in state insolvency guaranty funds they could not insure
for-hire vehicles. The Eleventh Circuit found that the Florida statute
was not discriminatory because it did not single out RRGs but rather
excluded all insurers that are ineligible for membership in FIGA.
The Seventh Circuit followed the Eleventh Circuit’s lead in applying
the anti-discrimination provision narrowly and deferring to the
financial responsibility exception. In Ophthalmic Mut. Ins. Co. v.
Musser, 143 F.3d 1062 (7th Cir. 1998), the court recognized that RRGs
are subject to state financial responsibility statutes as long as they do
not discriminate against RRGs, but held that “a state can require a
licensee to demonstrate that he is insured by a state-licensed insurer,
even if this means that non-domestic RRGs turn out to be among the
pool of non-qualifying insurers.” According to the Seventh Circuit,
the LRRA is designed to prevent state laws “intending to thwart
RRGs,” but a state law that only incidentally discriminates against
RRGs does not violate the LRRA.
While the LRRA preempts state law and prohibits discrimination,
courts have viewed the preemptive qualities and the application of
the LRRA differently. Although the recent Ninth Circuit decision
represents a positive development for RRGs by affirming the
preemption provisions of the LRRA, additional judicial and legislative
clarity would enhance the regulatory environment and promote a more
competitive and well-defined marketplace for RRGs.
Since joining Demotech, Mr. Coleman has focused on supporting
the advancement of the organization’s business interests, as well as
providing counsel on all legal issues and compliance matters. Mr.
Coleman also supports Demotech’s client companies by providing
insight into legal and regulatory developments affecting the insurance
industry. He is a member in good standing of the Ohio State Bar
Association and the Columbus Bar Association. Email your questions
or comments to Mr. Coleman at bcoleman@demotech.com.
®
How RRGs Can Weather Risk Focused Examinations
By Lewis Bivona, Jr., CPA, AFE | Insurance Practice Leader,
Risk Retention Groups (RRGs) are subject to the same risk focused
examinations as traditional insurance companies. The primary
reason for this requirement was precipitated by a large number of
failures in the early 2000s. The failure of these RRGs was basically
a byproduct of hardening commercial liability markets which created
the desire to form RRGs at an unprecedented pace. Prior to 2011, state
department of insurance Part A Financial Regulatory standards (laws
and regulations) did not apply to RRGs which were formed under
federal law. Now RRGs are subjected to the same oversight, including
examinations, as traditional insurers. While there are a number of
strengthened requirements for RRGs that center on reinsurance, risk
limitations, holding company status, investment valuations and other
considerations, this specific discussion will be on what RRGs can do to
prepare for, and weather, an examination.
While most RRGs are not anywhere near as complex as a traditional
insurance company, the examination standards are essentially the same,
just on a smaller scale. Recall that David Provost, from the Vermont
Department of Financial Regulation, laid out the phases and general
considerations of a risk focused examination in Analysis of Risk
Retention Groups – Third Quarter 2012 (see http://bit.ly/10CwbZW for
his article). The guidance that follows will
build on this baseline so that RRG owners
and managers can be adequately prepared to
meet examination expectations.
Regulatory Perspective
The second most important step for the
examiners is gathering information through
discussions with management and key
advisors (RRG management, actuaries,
auditors, accounting staff, Board members,
etc.). During these discussions, the examiner
is trying to understand if they are engaged,
aware of operating considerations, IT
operating environment (hint, your RRG
manager should have an SSAE16, aka SOC
report, to cover key operating and IT controls), investment activities,
financial requirements and the overall strategic direction of the RRG.
A lot of what the examiner finds out here will affect their assessment
of the inherent risks related to the entity and their examination plans.
It cannot be emphasized enough, the more involved, independent
and sophisticated your Board is can have a major effect on examiner
perspective.
Other key factors considered are regularity of financial reports,
review of said reports and the frequency and documentation of those
meetings. Experience of your RRG manager and
staff cannot be forgotten either, as it will affect the
overall confidence level of the examiner, particularly
if your manager does not have experience managing
the particular insurance risk housed in your RRG or
if the manager is not financially stable. If the RRG
can articulate risks and discuss how it mitigates these
risks with the examiner through the understanding
phase of the engagement, things will progress much
more quickly.
Good corporate
governance
practices,
including
oversight of
your RRG
next phase of the examination will center on
manager, regular The
the risks the examiners have identified as well as
what controls are in place to mitigate those risks. It
substantive
is important that your auditors’ and your actuaries’
documented
workpapers are complete and accurate since they will
be leveraged, to the extent possible, by the examiners
meetings
in evaluating how the auditors and actuaries assessed
risks, controls and exposures. Other mitigating
and review
factors would include how carefully the Board
of financial
oversees and monitors the operations of the RRG,
clear are management policies, and whether
statements are how
the RRG manager regularly tests controls and
procedures, including compliance with domiciliary
essential.
state regulations and NAIC guidance. Remember, if
First, the absolute best thing to do is to keep
the financial analyst at your domiciled state
happy. How do you do that? Make sure
all your statutory filings are submitted on
time. If the analyst assigned to your RRG
has questions or concerns, be prompt and
forthcoming about what is going on with
the RRG. Do not cover up the truth, as it
will eventually become evident anyway and
the only thing you have done is ruin the
trust factor with your regulator ally. This
is also important, in that all examinations
essentially start with the background
information you have provided, plus the
analytical work products and the industry
concerns that have been documented by
the department’s financial analyst. The
examiner in charge of your examination
will be handed the financial baton from the
analyst in charge of your RRG. If the hand
off is smooth, the examination pace and finish will be that much faster.
Another cost saver would be to ask your RRG manager if they manage
several RRGs in your state of domicile; if this is the case, you may
have an opportunity to ask your domiciliary department to consolidate
several RRG examinations with yours which could potentially lower
overall costs due to common management, controls and IT platform.
the RRG manager is not testing the effectiveness of its own controls, the
examiners will, which in turn will add to the costs of the examination.
The overall assessment of residual risk will be factored by the findings
related to the control environment of the particular RRG, which in turn
will determine the amount of substantive work that may be done.
®
Substantive detail tests are determined by the amount of judgmental
residual risk ascribed to the RRG. If controls are critical but the
examiner is uncertain that the risk has been mitigated by their previous
activities, they will dive into direct tests of details. If there is a concern
that the RRG manager may not be financially solvent, they may ask for
financial statements of the manager. If the examiner believes that the
RRG may have to potentially access a letter of credit, they may actually
evaluate the financial strength of the issuing bank.
If your RRG is not reporting or disclosing reconciliations between
GAAP and SAP, they may select significant reconciling items and
evaluate the accuracy of the GAAP to SAP reporting differences.
Claims and reinsurance will certainly be considered due to the general
materiality to most RRGs.
If the annual development of claims varies significantly from prior year
estimates, it will give examiners pause to question the actuaries’ opinions
and calculation, in addition to questioning the reserving methodology
overall. This may precipitate an external actuarial opinion or increased
analytical work by the examiner to evaluate claims and related LAE,
especially in long tail lines. The most important lesson to be learned
here is that if you have not performed “what if” or stress scenarios with
your RRG and come up with solutions, the examiners will assess these
risks in their testing and come up with their own conclusions.
Ultimately, the work performed above will make it into an examination
report. If there are findings, you and your RRG manager should be
prepared to address them in a timely fashion. Some findings may not
make it to the report if they address proprietary information or processes,
but they will be addressed in a management letter. Any unresolved
issues or perspective concerns will be documented in a supervisory
plan that will be followed up on by the financial analyst of your RRG.
If your RRG does business in other states, copies of the examination
report will be forwarded to them as well.
The most important takeaway is that the more you run your RRG like a
miniature insurance company, the better off you will be. Good corporate
governance practices, including oversight of your RRG manager, regular
substantive documented meetings and review of financial statements,
are essential. Your board should also stay abreast of regulatory and
industry issues so that they are not unprepared to challenge their RRG
manager or to speak intelligently to a state analyst or examiner. Hire or
make sure your RRG manager hires seasoned actuaries and accountants
that are familiar with your risks and accounting needs, respectively.
Make sure your RRG management retains seasoned staff, maintains
good internal controls and has external control validation annually done
by an independent SOC provider. Last, but not least, make sure you and
your RRG manager stay close to your regulators; it is valuable when
things are going well and even more so when you might be in a tight
spot.
Mr. Bivona is the Managing Partner of the Insurance Practice of
WithumSmith+Brown, PC. The depth of his experience has been
garnered from high-level positions within the public accounting,
HMO, consulting and insurance industries as well as a period in HMO
regulation. He has been a team leader on many financial condition
examinations, both full and limited scope. Email your questions
or comments to Mr. Bivona at lbivona@withum.com. Visit www.
withum.com for more information about WithumSmith+Brown, PC.
Demotech, Inc. Understands and Actively
Supports Risk Retention Groups
Demotech, Inc. understands the unique structure and
opportunities that RRGs bring to the Property and Casualty
industry. In our working relationship with analysts as well as
government entities and business associations, Demotech is
often called upon for our expertise and perspective.
Today, more than at any time in recent history, insureds,
agents and constituents need to have independent verification
of financial stability. Since Demotech’s rating methodology is
based upon a review and analysis of insurance fundamentals,
focused specialists, such as RRGs, are not penalized for
operating under restrictions or constraints that limit product
line diversification.
Financial Stability Rating® Philosophy
Financial Stability Ratings® (FSRs) are a leading indicator of
the financial stability of Property and Casualty insurers and
Title underwriters. Demotech’s rating process provides an
objective baseline for assessing solvency based upon changes
in financial stability, as manifested in an insurer’s balance
sheet and income statement. FSRs are based upon a series of
quantitative ratios and considerations which together comprise
our Financial Stability Analysis Model.
An FSR summarizes Demotech’s opinion as to an insurer’s
ability to insulate itself from the business cycle that exists in
the general economy as well as the underwriting cycle that
exists in the insurance industry. Thus, an FSR summarizes
Demotech’s opinion as to the relative ability of an insurer
to honor meritorious claims during a downturn in general
economic conditions as well as a downturn in the underwriting
cycle.
Our Financial Stability Analysis Model is the major
component of the FSR assignment process. The Financial
Stability Analysis Model can be applied to statutory insurance
accounting data or data compiled under Generally Accepted
Accounting Principles (GAAP).
Demotech’s focus is somewhat unique. While Demotech
acknowledges and recognizes the importance of profitability,
we believe that balance sheet strength and financial integrity
are the ultimate determinants of the long term financial
stability required to honor meritorious claims. Accordingly,
while operating profit remains an important element of FSRs,
the ability of an insurer to remain financially stable under a
variety of economic stress tests requires a focus on balance
sheet integrity, including a review of the quality and quantity
of reinsurance protection.
FSRs are not an endorsement of any particular insurer or its
products. Insureds and agents need to independently evaluate
their relationship with a particular insurer as well as the
applicability of that insurer’s products to the needs of the
insured or agent.
FSRs present Demotech’s opinion of the ability of the insurer
to meet its insurance related obligations based upon our
assessment and interpretation of financial information.
Please contact Douglas Powell, Senior Financial Analyst, at
dpowell@demotech.com if you would like to discuss the
process of being assigned a Financial Stability Rating® (FSR)
or the benefits of having a qualified FSR.
®
Your Information Gateway to the Risk Retention Marketplace
The
Risk Retention
Reporter
The publication for the risk retention industry for more than 25 years, the Risk Retention
Reporter offers the resources you need to successfully navigate the rapidly growing risk retention
marketplace. The Risk Retention Reporter is recognized nationwide as the authoritative
source for information about this dynamic industry. Just open a copy and find out for yourself.
Subscribe to the Risk Retention Reporter and each month you will get:
• News of the important developments
in the industry
• Monthly Updates of both Risk Retention
Groups and Purchasing Groups
• The latest developments in legislative,
judicial & regulatory developments
• Special feature articles by industry
experts to give you in-depth information
• Expert analysis of trends and breaking
news
• Industry information available no
where else
The Risk Retention Reporter is the essential monthly publication that will let you stay abreast
RRR
of vital information you need to keep
More than just a Risk Retention news source
Subscribe today at www.rrr.com
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®
Risk Retention Groups
Listing of RRGs
®
®
Risk Retention Groups - Listing by Company Name
NAIC
Company Name
Address
12934 ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION
76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477
GROUP
Statement Contact CLAIRE VERONICA OYELAJA
Phone (646) 808-0596
12166 ADVANCED PHYSICIANS INS RRG INC
Statement Contact ED CALDWELL
Phone (802) 864-6301
13606 AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP
Statement Contact RICK O'BRIEN
Phone (702) 938-3175
28380 AGRI INSURANCE EXCHANGE RRG
Statement Contact KEVIN MANDEVILLE
Phone (317) 541-1800
Phone (515) 254-0400
NV
Primary Line of Business Other Liability (Claims-made)
Domiciled
IN
Primary Line of Business Other Liability (Occurrence)
Domiciled
HI
Primary Line of Business Commercial Auto Liability
Domiciled
VT
Primary Line of Business Medical Professional Liability (Claims-made)
Domiciled
AZ
Domiciled
SC
Domiciled
AZ
Domiciled
MT
Domiciled
TX
Domiciled
VT
Domiciled
IA
Domiciled
SC
Domiciled
VT
Domiciled
MT
100 GALLERIA PARKWAY, SE, SUITE 700, ATLANTA, GA 30339-5947
Phone (770) 485-4423
11534 AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG
Statement Contact PATRICIA LORRAINE MALONEY
1605 MAIN STREET, SUIT 800, SARASOTA, FL 34236-5840
Phone (941) 955-0793
25448 AMERICAN SAFETY RRG INC
Statement Contact MATTHEW ROBERT POLLAK
Domiciled
1707 VILLAGE CENTER CIRCLE, SUITE 100, LAS VEGAS, NV 89134-0515
4685 MERLE HAY ROAD, SUITE 200, DES MOINES, IA 50322-1982
11590 AMERICAN FOREST CASUALTY COMPANY RRG
Statement Contact TERESA MARIE MATTHEWS
VT
12544 HIGH BLUFF DRIVE, SUITE 430, SAN DIEGO, CA 92130-3052
Phone (802) 863-4400
44202 AMERICAN FEED INDUSTRY INS CO RRG
Statement Contact SUSAN P. TINGLEFF
12222 MERIT DRIVE, SUITE 1660, DALLAS, TX 75251-3212
Phone (800) 563-6051
10903 AMERICAN EXCESS INS EXCHANGE RRG
Statement Contact KATHRYN MICHENER BOUCHE
Domiciled
100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946
27 NORTH 27TH STREET, SUITE 1900, CROWNE PLAZA, BILLINGS, MT
Phone 800-226-0793
12300 AMERICAN CONTRACTORS INS CO RRG
Statement Contact AMANDA CHORN
DC
15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150
Phone (802) 371-2229
12631 AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.
Statement Contact KATIE GRAY
Domiciled
BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384
Phone (877) 872-7475
10232 AMERICAN ASSOC OF OTHODONTISTS RRG
Statement Contact REBECCA J. AITCHISON
1100 W. TOWN & COUNTRY RD., STE. 1400, ORANGE, CA US
Phone 714-571-1864
12013 ALLIED SERVICES RISK RETENTION GROUP
Statement Contact LEN T. LOGAN
AZ
2386 AIRPORT ROAD BARRE, VT 05641-8629
Phone (802) 371-2227
11710 ALLIED PROFESSIONALS INSURANCE COMPANY, RRG
Statement Contact DOUGLAS JOSEPH HAUSER
Domiciled
745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3800
Phone (808) 585-3526
10023 ALLIANCE OF NONPROFITS FOR INS RRG
Statement Contact CINDY L. LYFORD
5825 LAWTON LOOP EAST DRIVE INDIANAPOLIS, IN 46216-1064
11965 ALLEGIANT INS CO INC A RRG
Statement Contact MARK HIRONAGA
VT
555 FAIRMOUNT AVENUE, BALTIMORE, MD
Phone 410-339-7263-1
13677 AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP
Statement Contact JAY E. CURTIS
Domiciled
2700 NORTH THIRD STREET, SUITE 3050, PHOENIX, AZ 85004-4620
Phone (602) 200-6900
12252 AEGIS HEALTHCARE RRG, INC.
Statement Contact BARBARA LABUSKES
Phone 406-523-3908
111 NORTH HIGGINS, FOURTH FLOOR, MISSOULA, MT US
Year-End 2012 - RRG Analysis
NAIC
Company Name
Address
12171 AMERIGUARD RRG INC
Statement Contact SCOTT C. STONE
Phone (802) 371-2231
11598 APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.
Statement Contact LEE MILIZIA
Phone (602) 263-6755
Phone (502) 244-1343
12224 ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.
Statement Contact MATT WATSON
Domiciled
AZ
Domiciled
DE
Domiciled
NV
Domiciled
KY
Domiciled
SC
Domiciled
NV
Domiciled
DC
Domiciled
HI
Domiciled
VT
1325 AIRMOTIVE WAY, SUITE 100, RENO, NV 89502-3294
13580 ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP
Statement Contact SUSAN LEDFORD
VT
2056 WESTINGS AVENUE, SUITE 20, NAPERVILLE, IL 60563-2495
Phone (800) 437-2342
13177 ARCOA RISK RETENTION GROUP, INC.
Statement Contact MICHELLE RENEE TRIMBLE
Domiciled
2555 E. CAMELBACK RD., PHOENIX, AZ
Phone 623-427-3208
44148 ARCHITECTS & ENGINEERS INS CO RRG
Statement Contact MICHAEL T. IANNOTTI
Phone (843) 853-0446
14425 ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION GROUP,
1700 EASTPOINT PARKWAY LOUISVILLE, KY 40223-4140
Primary Line of Business Boiler and Machinery
177 MEETING STREET, SUITE 470, CHARLESTON, SC 29401-3160
9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042
INC.
Statement Contact LINDA VILLANI
Phone (941) 373-1116
33677 ATTORNEYS INS MUTUAL OF ALABAMA INC
Statement Contact MELANIE T. DIXON
200 INVERNESS PARKWAY BIRMINGHAM, AL 35242-4813
Phone (205) 980-0009
22670 ATTORNEYS INSURANCE MUTUAL RRG INC
Statement Contact KAREN M. VENNER
Phone (406) 523-3873
10174 BAR VERMONT RISK RETENTION GROUP INC
Statement Contact JEREMIAH MAHANEY
Phone (212) 915-8498
Phone (800) 226-0793
13010 BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP
Statement Contact MICHAEL T. ROGERS
Phone (702) 678-6868
13788 BROADLINE RISK RETENTION GROUP, INC.
Statement Contact MELISSA H. LAROSE
MT
Domiciled
DC
Domiciled
MT
Domiciled
VT
Domiciled
VT
Domiciled
NV
Domiciled
NV
Domiciled
VT
111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401
Primary Line of Business Product Liability (Occurrence)
40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492
14169 BEST CARE INSURANCE COMPANY RISK RETENTION GROUP, INC.
Statement Contact ANDREW CARLTON
Domiciled
Phone (802) 264-4715
12933 BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.
Statement Contact ALICIA M. RUBALCABA
1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448
Phone (260) 486-0418
13791 AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.
Statement Contact DANIEL JOHN SEMAN
FLORENCE BUILDING, 111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401
Phone (406) 728-3113
13795 ATTPRO RRG RECIPROCAL RISK RETENTION GROUP
Statement Contact GARRETT JAMES DAVENPORT
311 SOUTH WACKER DRIVE, SUITE 5700, CHICAGO, IL 60606-6629
Phone (312) 697-6950
32450 ATTORNEYS LIAB PROTECTION SOC RRG
Statement Contact MARY PATRICIA NORDHAGEN
140 KENNEDY DRIVE SOUTH BURLINGTON, VT 05403-6710
Phone (802) 651-3377
10639 ATTORNEYS LIAB ASSUR SOCIETY INC RRG
Statement Contact KEITH RUSSELL CRAVEN
1605 MAIN STREET, EIGHTH FLOOR, SARASOTA, FL 34236-5840
9550 SOUTH EASTERN AVENUE LAS VEGAS, NV 89123-8038
Phone (802) 864-1716
NAIC
Company Name
Address
44504 CALIFORNIA HEALTHCARE INS CO INC RRG
Statement Contact JEFFREY DUECK
9229 SIERRA COLLEGE BOULEVARD ROSEVILLE, CA 95661-5919
Phone (916) 772-5110
12180 CALIFORNIA MEDICAL GRP INS CO RRG
Statement Contact BRYAN ALAN JONES
Phone (802) 371-2251
Phone (847) 549-8225
10808 CASSATT RISK RETENTION GROUP INC
Statement Contact SCOTT ANDREW MAILLE
Phone (406) 523-3873
11694 CENTRAL PA PHYSICIANS RRG INC
Phone (802) 479-7803
DC
Domiciled
VT
Domiciled
MT
Domiciled
SC
Domiciled
AZ
Domiciled
AZ
Domiciled
VT
Domiciled
AZ
Domiciled
VT
Domiciled
VT
Domiciled
SC
Domiciled
HI
Domiciled
DC
Domiciled
AL
Primary Line of Business Medical Professional Liability (Occurrence)
Phone (802) 371-2231
11668 COASTAL INS RRG INC
Statement Contact JOHN MARK KILLINGSWORTH
1003 BISHOP STREET, SUITE 1220, HONOLULU, HI 96813-6436
Phone (808) 521-0730
13756 CMIC RISK RETENTION GROUP
Domiciled
1850 WEST WINCHESTER ROAD, SUITE 109, LIBERTYVILLE, IL 60048-5355
Phone (843) 577-1034
43770 CLINIC MUTUAL INSURANCE CO RRG
Statement Contact JASON L. PALMER
SC
Phone (802) 371-2275
11992 CLARIAN HLTH RRG INC
Statement Contact TONIA A. EPPS
Domiciled
58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324
12172 CLAIM PROFESSIONALS LIAB INS CO RRG
Statement Contact RAMON ROBERT RAMOS V
18835 N. THOMPSON PEAK PARKWAY, SUITE 220, SCOTTSDALE, AZ
Phone 480-682-4983-
11839 CIRCLE STAR INS CO RRG
Statement Contact RENEE LAGUE
DC
Phone (802) 864-1717
14388 CHEROKEE GUARANTEE COMPANY INC., RRG
Statement Contact ANDREW SCOTT MARSON
Domiciled
15255 NORTH 40TH STREET, SUITE 109, PHOENIX, AZ 85032-4638
Phone (602) 952-9532
11531 CHC CAS RRG
Statement Contact AMY L. DAIGLE
2700 N. THIRD STREET, SUITE 3050, PHOENIX, AZ
Phone 800-226-0793
12167 CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG
Statement Contact RICHARD P. MARSHALL
AZ
Phone (843) 853-0446
11976 CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.
Statement Contact GEMMA AGUSTIN TUANQUI
Domiciled
Phone (802) 264-4711
13784 CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP
12373 CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP
Statement Contact CHAD CURTIS SWIGERT
HI
2233 WISCONSIN AVE, N.W., SUITE 310, WASHINGTON, DC
Phone 802-479-7801
11544 CAREGIVERS UNITED LIAB INS CO RRG
Statement Contact KIM CONNELLY BLOOMER
Domiciled
Phone (303) 388-5688
11825 CARE RRG, INC.
Statement Contact CHARLES HALSTEAD-JOHNSO
509 OLIVER ROAD MONTGOMERY, AL 36117-2207
Phone (334) 271-5515
NAIC
Company Name
Address
44598 COLLEGE LIABILITY INS CO A RECIP RRG
Statement Contact TONI KANEHIRA
Phone (808) 585-3584
13613 COLLEGE RISK RETENTION GROUP, INC.
Statement Contact JENNIFER L. PETTENGILL
Phone (802) 264-2086
Phone (412) 212-3476
Phone (480) 682-4983
14160 COVERYS RRG, INC.
Statement Contact CAROL LOUISE HICKMAN
Phone (802) 264-2060
Domiciled
IN
Domiciled
VT
Domiciled
VT
Domiciled
VT
Domiciled
SC
Domiciled
HI
Domiciled
VT
Domiciled
HI
Domiciled
DC
Domiciled
VT
333 SOUTH HOPE STREET, EIGHTH FLOOR, LOS ANGELES, CA 90071-3001
Domiciled
MT
Domiciled
VT
Domiciled
VT
Phone (802) 371-2321
13655 CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP
Statement Contact MERISSA S. BUSHEY
SC
111 NORTH SEPULVEDA BOULEVARD, SUITE 243, MANHATTAN BEACH, CA 90266-6849
Phone (808) 988-3215
11676 CRUDEN BAY RRG INC
Statement Contact PAULA A. FRENCH
Domiciled
4923 NORTHWEST 43RD STREET, SUITE C, GAINESVILLE, FL 32606-4460
13720 CROSSFIT RISK RETENTION GROUP, INC.
Statement Contact TONY JAMES SCHMIDT
101 ARCH STREET BOSTON, MA 02110-1129
Phone (617) 330-1755
10164 CPA MUTUAL INS CO OF AMERICA RRG
Statement Contact DAVID D. GUERINO
VT
Phone (802) 864-1716
12042 COOPERATIVE OF AMERICAN PHYSICIANS INSURANCE COMPANY, INC., A RRG
Statement Contact ANDREW SCOTT MARSON
Domiciled
201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929
Phone (802) 264-4588
10341 CONTROLLED RISK INS CO OF VT RRG
223-B HEATLEY STREET, MONCKS CORNER, SC
Phone 800-226-0793
11603 CONTRACTORS INS CO OF NORTH AMER RRG
Statement Contact STACEY GIBBS
VT
2386 AIRPORT ROAD, BARRE, VT US
Phone 802-371-2321
11798 CONTINUING CARE RRG, INC.
Domiciled
2547 WASHINGTON ROAD, 720 SUMMERFIELD COMMONS, UPPER SAINT CLAIR, PA 152412557
10075 CONSUMER SPECIALTIES INSURANCE COMPANY RRG
Statement Contact PAULA A. FRENCH
Primary Line of Business Warranty
Phone (802) 864-1716
11259 COMMUNITY HOSPITAL RRG
Statement Contact DONNA B. NORMAND
VT
7015 COLLEGE BOULEVARD, SUITE 400, OVERLAND PARK, KS 66211-1671
Phone (502) 882-4459
11536 COMMUNITY HEALTH ALLIANCE RECIP RRG
Domiciled
2711 MIDDLEBURG DRIVE, SUITE 309-A, COLUMBIA, SC 29204-2475
Phone (941) 373-1114
13893 COMMUNITY BLOOD CENTERS EXCH RRG
Statement Contact J. TODD ROSENBAUM
11807 COMMUNITIES OF FAITH RRG INC
Statement Contact MARY ELIZABETH GAROFALO
HI
Phone (802) 864-2751
11864 COMCARE PRO INS RECIPROCAL RRG
Statement Contact SHERRY ANN RICKER
Domiciled
Phone (802) 864-2111
10803 COLUMBIA NATIONAL RRG INC
Statement Contact JOHN H. RAYMOND
126 COLLEGE STREET, SUITE 400, BURLINGTON, VT 05401-8456
Phone (802) 863-2398
NAIC
Company Name
Address
43125 DELAWARE PROFESSIONAL INSURANCE CO
Statement Contact I. DAVID GORDON
845 THIRD AVENUE, 20TH FLOOR, NEW YORK, NY 10022-6601
Phone (212) 687-2525
13018 DOCTORS & SURGEONS NATIONAL RRG
Statement Contact SARA M CARPENTER
Phone (802) 383-0419
Phone 941-373-1105
12015 EMERGENCY MEDICINE RRG INC
Statement Contact MANNU LUO
Phone (941) 955-0793
Domiciled
DE
Domiciled
NV
Domiciled
SC
Domiciled
NV
Domiciled
VT
Domiciled
DC
Domiciled
VT
Domiciled
NV
Domiciled
SC
Domiciled
VT
Domiciled
AZ
Domiciled
VT
Domiciled
VT
9550 S. EASTERN AVENUE, SUITE 253, LAS VEGAS, NV
Phone (802) 864-2750
12016 FREDERICKSBURG PROFESSIONAL RISK EXC
AZ
2555 EAST CAMELBACK ROAD, SUITE 700, PHOENIX, AZ 85016-4264
Phone (602) 427-3208
10842 FRANKLIN CASUALTY INS CO RRG
Statement Contact LINDA B. ELLIOTT
Domiciled
Phone (802) 864-6332
12625 FORT WAYNE MEDICAL SURETY COMPANY, RRG
Statement Contact LEE M. MILIZIA
4421 ARAMINGO AVENUE PHILADELPHIA, PA 19124-4101
Phone (215) 235-5000
11278 FIRST MEDICAL INS CO RRG
Statement Contact JODI K. GUZZARDO
VT
1605 MAIN STREET, SUITE 800, SARASOTA, FL 34236-5823
11801 FIRST KEYSTONE RISK RETENTION GROUP, INC.
Statement Contact JOSEPH SCHMIDT
Domiciled
ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441
Phone (843) 614-3132
14439 FIDUCIARIES RISK RETENTION GROUP, INC.
Phone (602) 952-9532
11698 FAITH AFFILIATED RRG INC
Statement Contact KELLY BOURNE
DC
10 FALCON ROAD LEWISTON, ME 04240-5833
Phone (802) 264-4577
11840 FAIRWAY PHYSICIANS INS CO RRG
Statement Contact RICHARD P. MARSHALL
Domiciled
1528 EUREKA ROAD, SUITE 102, ROSEVILLE, CA 95661-3047
Phone (916) 772-2080
38466 EVERGREEN USA RRG INC
Statement Contact ERIC GILCRIS
Phone (843) 577-1035
11714 EMERGENCY PHYSICIANS INS CO RRG
Statement Contact PAUL SHAMPAY
KY
1627 CONNECTICUT AVE NW, SUITE 6, WASHINGTON, DC
Phone 202-802-1439-
12003 EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)
Statement Contact BRIAN TROY WINCH
Domiciled
Phone (802) 371-2229
14163 EMERGENCY CAPITAL MANAGEMENT, LLC, RRG
Statement Contact MELISSA ANNE HANCOCK
10125 ELITE TRANSPORTATION RRG INC
Statement Contact REBECCA J. AITCHISON
DE
1200 G STREET, NW, SUITE 800, WASHINGTON, DC 20005-6705
Phone (814) 375-6377
10115 EASTERN DENTISTS INS CO RRG
Statement Contact KAREN L. MAHONEY
Domiciled
3370 SUGARLOAF PARKWAY SUITE G-2/302, LAWRENCEVILLE, GA US
Phone 877-614-6425-3
11842 DUBOIS MEDICAL RRG
Statement Contact BRIAN S. KLINE
Phone (802) 371-2231
NAIC
Company Name
Address
14032 GABLES RISK RETENTION GROUP, INC.
Statement Contact JEFFREY M. TUCKER
Phone (802) 864-5599
12000 GEISINGER INS CORP RRG
Statement Contact RONDA LYNN DEVINO
Phone (802) 371-2273
Domiciled
VT
Domiciled
HI
Domiciled
VT
Domiciled
DC
Domiciled
NV
Domiciled
SC
Domiciled
NV
Domiciled
SC
Domiciled
VT
Domiciled
MT
Domiciled
SC
Domiciled
VT
Domiciled
DC
Domiciled
DC
Domiciled
HI
Domiciled
DC
2121 VALLEY SAND STREET LAS VEGAS, NV 89135-1101
Phone (303) 996-5446
12512 GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.
Statement Contact DAWN M. DINARDO
VT
607 14TH STREET, NW, SUITE 900, WASHINGTON, DC 20005-2019
Phone (802) 479-7802
11145 GOLDEN INS CO RRG
Statement Contact LEN CLAPP
Domiciled
84 PINE STREET SUITE 450, BURLINGTON, VT US
Phone 802-651-0168
10991 GLOBAL INTL INS CO INC A RRG
Statement Contact STEVE BEVINS
11948 GLOBAL HAWK INSURANCE COMPANY RRG
Statement Contact STEPHEN BROWN
VT
76 SAINT PAUL STREET BURLINGTON, VT 05401-4470
Phone (802) 264-4713
13782 GERIC INSURANCE RISK RETENTION GROUP, INC.
Statement Contact JAMES SHOOK
Domiciled
Phone (802) 264-4593
10163 GENERAL EASTERN SKI INS RRG INC
Statement Contact DYAN O'HERNE
Phone (843) 614-3134
13973 GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC. 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307
Phone (800) 226-0793
11581 GRACO RRG INC
Phone (843) 614-3134
11941 GREEN HILLS INS CO RRG
Statement Contact JEFFREY M. TUCKER
Phone (843) 577-1032
2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104
Phone (800) 226-0793
10080 HEALTH PROVIDERS INS RECIPROCAL RRG
8725 WEST HIGGINS ROAD, SUITE 810, CHICAGO, IL 60631-2734
Phone (773) 864-8280
11813 HEALTH NETWORK PROVIDERS MUT INS CO
Phone (802) 419-1218
12236 HEALTH CARE CAS RRG INC
Statement Contact JOSEPH ROGER HERMAN
13057 HAMDEN ASSURANCE RRG, INC.
Statement Contact JOSEPH BERNARD PERCY
Phone (802) 264-2071
12014 GUTHRIE RRG
Statement Contact JASON MCMILLAN
Phone (802) 864-5599
11696 GUARDIAN RRG INC
Statement Contact TRISHA L. DESRANLEAU
1003 BISHOP STREET, SUITE 1220, HONOLULU, HI 96813-6436
Phone (808) 521-0730
11832 HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG
201 S. MAIN STREET, SUITE 200, ANN ARBOR, MI US
(HEALTHCAP RRG)
Statement Contact PETER M FEENEY
Phone 734 996-2700
NAIC
Company Name
Address
11683 HEALTHCARE PROVIDERS INS CO RRG
Statement Contact GEOFFREY LEWIS SALMON
Phone (404) 835-0454
11998 HEARTLAND HEALTHCARE RECIP RRG
Phone (941) 373-1114
Phone (512) 404-6555
11268 ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP
Statement Contact CHARLES WARREN BEHR
Phone (202) 326-5464
12018 INDEMNITY INSURANCE CORPORATION, RRG
Statement Contact JEFFREY BRIAN COHEN
Phone (802) 864-6301
VT
Domiciled
VA
Domiciled
VT
Domiciled
DE
Domiciled
VT
Domiciled
AZ
Domiciled
DE
Domiciled
NV
Domiciled
KY
Domiciled
KY
Domiciled
VT
Domiciled
DC
Domiciled
NV
Domiciled
NE
11401 CENTURY OAKS TERRACE, SUITE 310, AUSTIN, TX 78758-8702
1401 H STREET, NW, SUITE 1000, WASHINGTON, DC 20005-2031
9550 S. EASTERN AVENUE, SUITE 253, LAS VEGAS, NV
Phone 800-226-0793
11500 LENDERS PROTECTION ASSUR CO RRG
Statement Contact RONALD LEE WHEELER
Domiciled
1333 H STREET, NW, SUITE 820E, WASHINGTON, DC 20005-4781
Phone (504) 831-3756
13014 LANCET INDEMNITY RISK RETENTION GROUP, INC.
Phone (802) 862-4400
14444 LAMMICO RRG, INC.
Statement Contact THOMAS LANE MCCORMICK
NV
2501 NELSON MILLER PARKWAY LOUISVILLE, KY 40223-2221
Phone (502) 992-4329
11803 LAKE STREET RRG INC
Statement Contact DANIEL S. SCOTT
Domiciled
201 EAST JEFFERSON STREET, SUITE 104, LOUISVILLE, KY 40202-1250
11939 KENTUCKY HOSPITAL INS CO RRG
Statement Contact DEBORAH ROSE RILEY
UUMC 3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA US
Phone 678-781-2400
11872 KENTUCKIANA MEDICAL RECIPROCAL RRG
Statement Contact JAY E. CURTIS
SC
Phone (802) 881-7142
12594 J.M. WOODWORTH RRG, INC.
Statement Contact CAROLYN VERDE
Domiciled
Phone (602) 337-6247
14375 IRONSHORE RISK RETENTION GROUP, INC.
Statement Contact MELISSA ANNE HANCOCK
Phone (802) 264-2074
12320 INNOVATIVE PHYSICIAN SOLUTIONS RRG
Statement Contact WENDY RAE BROWN
VT
950 RIDGEBROOK ROAD, SUITE 1500, SPARKS, MD 21152-9390
Phone (410) 472-6000
11692 INDIANA HEALTHCARE RECIP RRG
Statement Contact ALIHAN ALIHAN
Domiciled
189 COMMERCE COURT, P.O. BOX 189, CHESHIRE, CT 06410-0189
Phone (203) 272-8220
41246 HOW INSURANCE COMPANY, A RISK RETENTION GROUP
Statement Contact BRENDA J. STEWART
5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307
26797 HOUSING AUTHORITY RRG INC
Statement Contact PAULETTE ACHILLI
SC
Phone (802) 371-2251
11950 HOME CONSTRUCTION INS CO RRG
Domiciled
Phone (802) 264-2060
11097 HERITAGE WARRANTY INS RRG INC
Statement Contact KIM CONNELLY BLOOMER
1212 NORTH 96TH STREET OMAHA, NE 68114-2274
Phone (402) 399-3325
NAIC
Company Name
Address
12627 LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY
Statement Contact V. J. PETITT
Phone (800) 730-6614
11958 LIFE SERVICES NETWORK RECIP INS RRG
Phone (941) 373-1116
11684 LVHN RRG
Statement Contact MANNU LUO
Phone (843) 577-1035
Phone (802) 861-2630
11117 MARATHON FIN INS CO INC RRG
Statement Contact STEPHEN D. KANTNER
Phone (802) 861-2930
14219 MILLBROOK NMF RISK RETENTION GROUP, INC.
Statement Contact LAURA ELIZABETH ROEMER
Domiciled
DE
Domiciled
DE
Domiciled
VT
Domiciled
MT
Domiciled
HI
Domiciled
DC
Domiciled
DC
Domiciled
VT
Domiciled
VT
Domiciled
SC
Domiciled
DC
Domiciled
VT
Domiciled
VT
Domiciled
MT
1925 LOVERING AVENUE WILMINGTON, DE 19806-2157
Phone (802) 864-2037
11585 MOUNTAIN STATES HEALTHCARE RECIP RRG
SC
Phone (802) 264-4592
11547 MOUNTAIN LAUREL RRG INC
Statement Contact AMANDA R. WESCOTT
Domiciled
7701 FRANCE AVENUE, SOUTH, SUITE 500, MINNEAPOLIS, MN 55435-5288
Phone (952) 838-6766
13812 MOUNTAIN LAKE RISK RETENTION GROUP, INC.
Statement Contact ANDREW HAMME
360 CONCORD STREET, SUITE 106, CHARLESTON, SC 29401-6303
Phone (843) 884-5902
14062 MMIC RRG, INC.
Statement Contact JON GARY BEHNKEN
NV
103 EISENHOWER PARKWAY, SUITE 101, ROSELAND, NJ 07068-1029
Phone (802) 863-2398
11999 MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP
Statement Contact THAO T. NGUYEN
5565 STERRETT PLACE, FIFTH FLOOR, COLUMBIA, MD 21044-2665
Phone (802) 864-2120
44237 MENTAL HEALTH RISK RETENTION GROUP
Statement Contact MERISSA S. BUSHEY
Domiciled
1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448
Phone (260) 486-0418
10124 MEDSTAR LIABILITY LTD INS CO INC RRG
Statement Contact LISA M. KANE
DC
3000 OAK ROAD, SUITE 600, WALNUT CREEK, CA 94597-2071
Phone (925) 949-0101
13589 MEDPRO RRG RISK RETENTION GROUP
Statement Contact GARRETT JAMES DAVENPORT
Domiciled
805 MADISON STREET, SUITE 901, SEATTLE, WA 98104-1172
Phone (406) 282-0170
26257 MEDAMERICA MUTUAL RRG INC
Statement Contact CHRISTOPHER PAUL MERTES
Phone (802) 652-1571
12355 MD RISK RETENTION GROUP, INC.
Statement Contact BRENDA M. OLSON
UT
1710 CORPORATE CROSSING, SUITE ONE, O'FALLON, IL 62269-3741
Phone (302) 651-8354
10697 MCIC VERMONT INC RRG
Statement Contact DIANE M. HANSON
Domiciled
12554 MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP
Statement Contact PATRICK GHISLAIN THERIAULT
Phone (941) 955-0793
14084 LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP
Statement Contact LINDA VILLANI
5679 SOUTH REDWOOD ROAD, SUITE 25, SALT LAKE CITY, UT 84123-5464
Phone (802) 264-2060
NAIC
Company Name
Address
12779 MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.
Phone (843) 614-3132
14366 NASW RISK RETENTION GROUP, INC.
Statement Contact LEN CLAPP
Phone (800) 226-0793
Phone (303) 306-0002
Phone (843) 614-3135
10234 NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)
Statement Contact CHARLES HALSTEAD-JOHNSON
Phone (802) 479-7801
14130 NCMIC RISK RETENTION GROUP, INC.
Statement Contact STEPHEN M. BROWN
Phone (941) 373-1129
12532 NEW STAR RISK RETENTION GROUP, INC.
Statement Contact TONIA A. EPPS
Phone (843) 577-1034
Phone 800-226-0793
13059 NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP
Statement Contact LISA M. KANE
Phone (802) 864-2120
10752 NOVUS INS CO RRG
Statement Contact MILES J. HOPKINS
Domiciled
NV
Domiciled
VT
Domiciled
MT
Domiciled
HI
Domiciled
CO
Domiciled
SC
Domiciled
SC
Domiciled
DC
Domiciled
VT
Domiciled
NV
Domiciled
DC
Domiciled
SC
Domiciled
DC
Domiciled
VT
10375 EAST HARVARD AVENUE, SUITE 100, DENVER, CO 80231-3966
12275 NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG
Phone (941) 955-0793
13792 NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP
Statement Contact BJORN K. HUBBARD
DC
Phone (802) 861-2930
12539 NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.
Domiciled
Phone (802) 371-2249
12529 NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.
Statement Contact MICHAEL JOHN COULTER
ONE DENVER HIGHLANDS, 10375 EAST HARVARD AVENUE, SUITE 550, DENVER, CO 802313966
11197 NATIONAL INDEPENDENT TRUCKERS IC RRG
Statement Contact NICOLE S. HUBLER
DC
4075 COPPER RIDGE DRIVE, TRAVERSE CITY, MI US
Phone 231-946-6200
44016 NATIONAL HOME INSURANCE CO RRG
Statement Contact HUGH B. MCCREERY
Domiciled
27 GAGE TERRACE BIGFORK, MT 59911-3544
Phone (406) 282-0170
36072 NATIONAL GUARDIAN RISK RETENTION GROUP
Statement Contact MARK A BURNHEIMER
Phone (802) 861-2930
12293 NATIONAL CONTRACTORS INS CO INC RRG
WV
10083 NATIONAL CATHOLIC RRG
Statement Contact MARY MARIO RICHARDS
Domiciled
3740 DAVINCI COURT, STE. 130, NORCROSS, GA
Phone 770-255-4913
12235 NATIONAL BUILDERS & CONTRACTORS INS
Phone (303) 996-5446
11806 NATIONAL ASSISTED LIVING RRG, INC.
Statement Contact ROSE PATRICK
1001 PENNSYLVANIA AVE., N.W., SUITE 400 SOUTH, WASHINGTON, DC
1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384
Phone (843) 573-4834
Domiciled
SC
NAIC
Company Name
Address
13644 OASIS RECIPROCAL RISK RETENTION GROUP
Statement Contact GARY A. GRISWOLD
Phone (802) 658-9466
12845 OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.
Phone (941) 373-1129
10158 OCEAN RRG INC
Statement Contact MARY CLAIRE GOFF
Phone (877) 872-7475
Phone (802) 264-2073
11575 PACE RRG INC
Statement Contact GARY P. O'HARE
Phone 802-371-2219
AZ
Domiciled
IL
Domiciled
VT
Domiciled
VT
Domiciled
AZ
Domiciled
VT
4000 FABER PLACE DRIVE, SUITE 300, NORTH CHARLESTON, SC 29405-8587
Domiciled
SC
Domiciled
VT
Domiciled
TN
Domiciled
DC
Domiciled
VT
Domiciled
DC
Domiciled
VT
Domiciled
SC
Phone (802) 264-2073
12004 PHOEBE RECIPROCAL RRG
Domiciled
Phone (802) 479-7801
11587 PELICAN INS RRG
Statement Contact JONATHAN J. MCKENZIE
Phone (802) 861-2930
11772 PEDIATRICANS INS RRG OF AMER
SC
1605 MAIN STREET, SUITE 800, SARASOTA, FL
Phone 941-955-0793
11846 PEACE CHURCH RRG INC
Statement Contact MARY MARIO RICHARDS
Domiciled
1715 AARON BRENNER DRIVE, SUITE 512, MEMPHIS, TN US
11973 PCH MUTUAL INSURANCE COMPANY, RRG
Phone (802) 652-1568
44130 PARATRANSIT INSURANCE COMPANY, RRG
Statement Contact ANITA M. PERKINS
DC
Phone (802) 264-4574
14260 ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION GROUP)
Statement Contact JONATHAN J. MCKENZIE
Domiciled
Phone (941) 373-1114
10171 ORDINARY MUTUAL A RRG CORP
Statement Contact MARK PIDGEON
655 BEACH STREET SAN FRANCISCO, CA 94109-1336
Phone (415) 202-4618
12183 ORANGE COUNTY MEDICAL RECIP INS RRG
MT
Phone (802) 479-7802
44105 OPHTHALMIC MUTUAL INS CO RRG
Statement Contact LES J. SCACCALOSI
6133 NORTH RIVER ROAD, SUITE 650, ROSEMONT, IL 60018-5173
Phone (847) 384-0041
10353 OOIDA RISK RETENTION GROUP INC
Statement Contact STEVE BEVINS
Domiciled
27 NORTH 27TH STREET, SUITE 1900, BILLINGS, MT
Phone (602) 427-3217
44121 OMS NATL INS CO RRG
Statement Contact KATHERINE ANN EHMANN
VT
13062 OLYMPIA RISK RETENTION GROUP, INC.
Statement Contact KIMBERLY E. WACK
Domiciled
1620 PROVIDENCE ROAD TOWSON, MD 21286-1525
Phone (877) 587-1763
12189 OCEANUS INS CO A RRG
Phone (843) 853-0446
NAIC
Company Name
Address
13995 PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.
Phone (800) 226-0793
12746 PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.
Statement Contact ERNEST WILLIAM ARTERBERRY
Phone (802) 864-2037
12507 PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP
Statement Contact CHRISTOPHER CRAIG LEIGH
Phone (843) 577-1360
11514 PHYSICIANS PROFESSIONAL LIABILTY RRG
Statement Contact STACEY GIBBS
Phone (406) 523-3873
13582 PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP
Phone (808) 521-0730
12348 PINE TREE INS RECIPROCAL RRG
Phone (802) 479-7803
Phone (877) 587-1763
44083 PREFERRED PHYSICIANS MEDICAL RRG
Statement Contact TIMOTHY J. MCGILL
SC
Domiciled
VT
Domiciled
VT
Domiciled
SC
Domiciled
MT
Primary Line of Business Reinsurance - Nonproportional Assumed Liability
C/O WILLIS MANAGEMENT (HAWAII), 1003 BISHOP STREET, HONOLULU, HI 96813-6400
Domiciled
HI
Domiciled
VT
Domiciled
DC
Domiciled
VT
Domiciled
DC
Domiciled
OK
Domiciled
FL
Domiciled
MT
Domiciled
MO
Domiciled
NV
1620 PROVIDENCE ROAD TOWSON, MD 21286-1525
9000 WEST 67TH STREET SHAWNEE MISSION, KS 66202-3656
Phone
12613 PREMIER PHYSICIANS INSURANCE COMPANY, A RISK RETENTION GROUP
Statement Contact JESSICA CONTRERAS
3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA US
Phone 678-781-2400
12497 PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC
Statement Contact MARY CLAIRE GOFF
Domiciled
226 DEAN A. MCGEE AVENUE, OKLAHOMA CITY, OK
Phone 405-815-4825
11809 PONCE DE LEON LTC RRG, INC.
Statement Contact CAROLYN VERDE
VT
14205 PLICO RISK RETENTION GROUP, INC.
Statement Contact BRYAN SCOTTY POTTER
Phone (802) 864-6269
11858 PINNACLE RRG INC
Statement Contact RENEE LAGUE
Domiciled
Phone (800) 226-0793
11980 PINNACLE CONSORTIUM OF HIGHER ED RRG
Statement Contact MARCY WATERFALL
NV
Phone (802) 371-2231
12198 PINELANDS INS CO RRG INC
Domiciled
4535 DRESSLER ROAD, NW CANTON, OH 44718-2545
Phone (802) 371-2252
14108 PIA PROFESSIONAL LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP
Phone (802) 371-2221
11513 PHYSICIANS SPECIALTY LTD RRG
Statement Contact JEFFRY M. DELMAS
NV
Phone (802) 264-4588
10934 PHYSICIANS REIMBURSEMENT RRG
Statement Contact MICHELE EMMONS
Domiciled
BUILDING G, 7890 PETERS ROAD, SUITE 106, PLANTATION, FL 33324-4028
Phone (954) 236-2400
12918 PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP
Statement Contact AMANDA R. WESCOTT
Phone (775) 887-2480
575 SOUTH SALIMAN ROAD CARSON CITY, NV 89701-5000
NAIC
Company Name
Address
13179 PROAIR RISK RETENTION GROUP, INC.
Phone (941) 955-0793
11671 PROBUILDERS SPECIALTY INS CO RRG
Statement Contact CRAIG BOWDEN
Phone (808) 540-4312
10840 PROFESSIONAL MEDICAL INS RRG INC
Statement Contact STEPHEN CHONG
Domiciled
NV
Domiciled
DC
Domiciled
HI
Domiciled
HI
Domiciled
VT
Domiciled
MT
Domiciled
VT
Domiciled
SC
Domiciled
AZ
2859 PACES FERRY ROAD, SUITE 800, ATLANTA, GA 30339-5733
Phone (770) 257-1709
14461 PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)
Statement Contact NADINE TOMIYASU
Phone (808) 540-4323
12608 PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION
GROUP
Statement Contact MICHAEL A. CZAPLICKE
Phone (802) 864-2109
13067 PROFESSIONALS RISK RETENTION GROUP, INC.
Phone (406) 282-0170
11350 PUBLIC UTILITY MUTUAL INSURANCE COMPANY, RRG
Phone (802) 264-4719
Phone (802) 864-1710
11267 SECURITY AMERICA RRG INC
Statement Contact JODI K. GUZZARDO
VT
Domiciled
HI
Domiciled
SC
Domiciled
SC
Domiciled
VT
7251 WEST LAKE MEAD BOULEVARD, SUITE 401, LAS VEGAS, NV 89128-8370
Domiciled
NV
Domiciled
VT
Domiciled
MT
Phone (802) 864-6332
14136 SELECT MD RRG
Domiciled
12988 SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP
Statement Contact REBECCA S. BOUDREAU
Phone (843) 614-3134
11808 SCHUYKILL CROSSING RECIPROCAL RRG
Statement Contact JEFFREY CALLANE
SC
1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384
Phone (802) 371-2238
12511 SAMARITAN RISK RETENTION GROUP, INC.
Domiciled
Phone (808) 540-4312
11712 SAINT LUKE'S HLTH SYSTEM RRG
Statement Contact ALICIA D. COLELLA
Phone (800) 226-0793
14135 RPX RRG
Statement Contact NADINE TOMIYASU
Phone (843) 573-4676
12209 RESTORATION RISK RETENTION GROUP, INC.
Phone (602) 427-3208
12019 REPUBLIC RRG
Statement Contact ROBERT G. MEETZE
14382 US HIGHWAY 19, SOUTH THOMASVILLE, GA 31757-4801
Phone (229) 226-1937
13736 RED ROCK RISK RETENTION GROUP, INC.
Statement Contact LEE M. MILIZIA
Phone (802) 864-6269
13078 RED CLAY RISK RETENTION GROUP, INC.
Statement Contact CORY E. BROWN
Phone (406) 282-0170
NAIC
Company Name
Address
12005 SENTINEL ASSUR RRG INC
Statement Contact TONI KANEHIRA
Phone (808) 585-3584
13557 SIGMA RRG, INC.
Statement Contact EMI SWAIM
Phone (941) 373-1129
Phone (800) 226-0793
44075 STATES SELF-INSURERS RRG
Statement Contact SHERYL ANN SATTLER
Phone (843) 614-3132
14026 SUNLAND RISK RETENTION GROUP, INC.
Statement Contact LAURA LEE DURKIN
Phone (843) 573-4946
DC
Domiciled
SC
Domiciled
VT
Domiciled
NV
Domiciled
VT
Domiciled
VT
Domiciled
SC
Domiciled
DE
Domiciled
SC
Domiciled
VT
Domiciled
VT
Domiciled
VT
Phone
10084 TITLE INDUSTRY ASSURANCE CO RRG
Statement Contact BECKI MINOLI
Domiciled
Phone (802) 864-6269
11153 TITAN INS CO INC RRG
Statement Contact
Phone (802) 864-6269
10152 THE HEALTHCARE UNDERWRITING CO RRG
NV
Phone (802) 371-2233
14395 TERRAFIRMA RISK RETENTION GROUP LLC
Domiciled
10113 TERRA INS CO RRG
Statement Contact ABIGAIL M. BERNIER
14362 NORTH FRANK LLOYD WRIGHT BOULEVARD, SUITE 1000, SCOTTSDALE, AZ 85260-8847
Phone (800) 872-7475
11669 SUPERIOR INS CO RRG
Statement Contact PIPER H. CROCKETT
SC
Phone (802) 264-4576
13135 SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC
Domiciled
222 SOUTH NINTH STREET, SUITE 1300, MINNEAPOLIS, MN 55402-3332
Phone (612) 766-3000
10476 STICO MUT INS CO RRG
Statement Contact BECKI MINOLI
Phone (802) 264-4710
13993 STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.
DC
3507 ROSEWOOD DRIVE COLUMBIA, SC 29205-3448
Phone (877) 872-7475
11688 ST LUKES HEALTH NETWORK INS CO RRG
Statement Contact MARY B. DESRANLEAU
Domiciled
Phone (802) 479-7801
11114 ST CHARLES INS CO RRG
10754 SPIRIT MOUNTAIN INS CO RRG INC
HI
Phone (843) 614-3132
14207 SPIRIT COMMERCIAL AUTO RISK RETENTION GROUP
Domiciled
C/O AON RISK SERVICES, INC., 1120 20TH STREET, N.W, WASHINGTON, DC
Phone 202-862-5339
12907 SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.
Domiciled
SC
Domiciled
VT
Phone (802) 264-4576
NAIC
Company Name
Address
11548 UNITED CENTRAL PA RRG
Statement Contact SHERI TREMBLAY
Phone (802) 652-1554
12280 UNITED CONTRACTORS INS CO INC RRG
Statement Contact NICOLE S. HUBLER
Phone (802) 864-2110
Phone (800) 226-0793
13988 UV INSURANCE RISK RETENTION GROUP, INC.
Statement Contact CHRISTINA KAMAKA
Phone (843) 640-3170
13974 VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.
Phone (602) 427-3217
Phone (802) 864-2124
11796 YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)
Statement Contact ANITA M. PERKINS
VT
Domiciled
NV
Domiciled
HI
Domiciled
OK
Domiciled
MT
Domiciled
DC
Domiciled
VT
Domiciled
VT
Domiciled
VT
Domiciled
AZ
Domiciled
CO
Domiciled
VT
Domiciled
VT
2007 POOLE DRIVE HUNTSVILLE, AL 35810-3891
9265 MADRAS COURT LITTLETON, CO 80130-4444
Phone (303) 263-0311
13154 WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP
Statement Contact LISA H. MANLEY
Domiciled
40940 WESTERN PACIFIC MUT INS CO RRG
Statement Contact SHERLYN WILKINSON FARRELL
Primary Line of Business Warranty
140 KENNEDY DRIVE SOUTH BURLINGTON, VT 05403-6710
Phone (802) 922-9456
11978 WESTERN INS RRG INC
Statement Contact KIMBERLY E. WACK
VT
Phone (802) 864-2111
14122 WESTERN CATHOLIC INSURANCE COMPANY RRG
Statement Contact TRICIA LYNN ALGER
Domiciled
76 SAINT PAUL STREET BURLINGTON, VT 05401-4470
Phone (802) 264-4710
11682 WELLSPAN RRG
Statement Contact JENNIFER L. PETTENGILL
201 S. MAIN STREET, SUITE 200, ANN ARBOR, MI US
Phone 734 996-2700
11802 WARREN RRG INC
Statement Contact MARY B. DESRANLEAU
DE
Phone (406) 282-0170
13786 VIRGINIA SENIOR CARE RISK RETENTION GROUP
Statement Contact PETER M FEENEY
Domiciled
Phone (808) 540-4305
11063 VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP
Statement Contact SUSAN MARIE URIE
12915 URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP
VT
TWO WISCONSIN CIRCLE, FOURTH FLOOR, CHEVY CHASE, MD 20815-9913
Phone (301) 215-6423
10712 UNITED HOME INSURANCE CO A RRG
Statement Contact DELISCA A. CHRISTIAN
Domiciled
Phone (802) 371-2249
10020 UNITED EDUCATORS INS RRG INC
Statement Contact KAREN LEE VERDON
Phone (802) 371-2219
Risk Retention Groups - Listing by Primary Line of Business
NAIC Company Name
State of Domicile
Boiler and Machinery
13580 ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION
GROUP
KENTUCKY
Commercial Auto Liability
VERMONT
TEXAS
SOUTH CAROLINA
MONTANA
VERMONT
NEVADA
VERMONT
ARIZONA
SOUTH CAROLINA
VERMONT
UTAH
DELAWARE
VERMONT
SOUTH CAROLINA
DISTRICT OF COLUMBIA
10158 OCEAN RRG INC
VERMONT
TENNESSEE
NEVADA
Medical Professional Liability (Claims-made)
12934 ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK
RETENTION GROUP
VERMONT
VERMONT
ARIZONA
SOUTH CAROLINA
ARIZONA
VERMONT
ARIZONA
VERMONT
NEVADA
VERMONT
HAWAII
ARIZONA
SOUTH CAROLINA
VERMONT
SOUTH CAROLINA
ARIZONA
ARIZONA
ARIZONA
NAIC Company Name
State of Domicile
HAWAII
ALABAMA
SOUTH CAROLINA
INDIANA
VERMONT
VERMONT
SOUTH CAROLINA
VERMONT
VERMONT
VERMONT
DELAWARE
KENTUCKY
VERMONT
DELAWARE
NEVADA
SOUTH CAROLINA
NEVADA
ARIZONA
VERMONT
VERMONT
VERMONT
VERMONT
SOUTH CAROLINA
11581 GRACO RRG INC
SOUTH CAROLINA
12014 GUTHRIE RRG
VERMONT
MONTANA
SOUTH CAROLINA
VERMONT
HAWAII
SOUTH CAROLINA
VERMONT
VERMONT
ARIZONA
DELAWARE
NEVADA
KENTUCKY
KENTUCKY
VERMONT
NAIC Company Name
11684 LVHN RRG
State of Domicile
NEVADA
SOUTH CAROLINA
VERMONT
MONTANA
HAWAII
13059 NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION
GROUP
SOUTH CAROLINA
VERMONT
MONTANA
WEST VIRGINIA
SOUTH CAROLINA
VERMONT
NEVADA
SOUTH CAROLINA
VERMONT
SOUTH CAROLINA
VERMONT
MONTANA
SOUTH CAROLINA
ARIZONA
ILLINOIS
VERMONT
ARIZONA
SOUTH CAROLINA
11575 PACE RRG INC
VERMONT
VERMONT
VERMONT
NEVADA
NEVADA
SOUTH CAROLINA
VERMONT
SOUTH CAROLINA
HAWAII
VERMONT
OKLAHOMA
FLORIDA
MISSOURI
NAIC Company Name
State of Domicile
GROUP
NEVADA
VERMONT
MONTANA
SOUTH CAROLINA
SOUTH CAROLINA
SOUTH CAROLINA
VERMONT
NEVADA
MONTANA
14136 SELECT MD RRG
HAWAII
VERMONT
SOUTH CAROLINA
DELAWARE
SOUTH CAROLINA
VERMONT
NEVADA
MONTANA
VERMONT
11682 WELLSPAN RRG
VERMONT
VERMONT
VERMONT
Medical Professional Liability (Occurrence)
SOUTH CAROLINA
VERMONT
VERMONT
(HEALTHCAP RRG)
HAWAII
VERMONT
VERMONT
HAWAII
SOUTH CAROLINA
VERMONT
Other Liability (Claims-made)
14425 ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION
GROUP, INC.
INDIANA
DELAWARE
NEVADA
HAWAII
VERMONT
MONTANA
NAIC Company Name
State of Domicile
VERMONT
11531 CHC CAS RRG
VERMONT
VERMONT
HAWAII
VERMONT
HAWAII
VERMONT
MONTANA
NEVADA
HAWAII
NEVADA
13973 GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION
GROUP, INC.
NEVADA
SOUTH CAROLINA
VERMONT
VERMONT
NEVADA
VERMONT
VERMONT
COLORADO
VERMONT
SOUTH CAROLINA
14461 PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION
GROUP)
HAWAII
VERMONT
SOUTH CAROLINA
NEVADA
VERMONT
VERMONT
VERMONT
HAWAII
ARIZONA
COLORADO
Other Liability (Occurrence)
ARIZONA
NEVADA
HAWAII
NAIC Company Name
State of Domicile
MONTANA
IOWA
VERMONT
SOUTH CAROLINA
NEVADA
MONTANA
VERMONT
VERMONT
HAWAII
VERMONT
VERMONT
NEVADA
DELAWARE
NEBRASKA
DELAWARE
NEVADA
VERMONT
MONTANA
VERMONT
MONTANA
NEVADA
ARIZONA
SOUTH CAROLINA
12019 REPUBLIC RRG
VERMONT
VERMONT
VERMONT
VERMONT
SOUTH CAROLINA
DELAWARE
VERMONT
OKLAHOMA
VERMONT
Product Liability (Occurrence)
MONTANA
VIRGINIA
HAWAII
14135 RPX RRG
Reinsurance - Nonproportional Assumed Liability
14108 PIA PROFESSIONAL LIABILITY INSURANCE COMPANY, A RISK RETENTION
GROUP
MONTANA
Warranty
VERMONT
VERMONT
Risk Retention Groups - Listing by State
NAIC Company Name
Primary Line of Business
ALABAMA
ARIZONA
COLORADO
(HEALTHCAP RRG)
NAIC Company Name
10158 OCEAN RRG INC
DELAWARE
FLORIDA
HAWAII
14461 PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)
14135 RPX RRG
IOWA
ILLINOIS
INDIANA
NAIC Company Name
KENTUCKY
13580 ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP
Boiler and Machinery
MISSOURI
MONTANA
14108 PIA PROFESSIONAL LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP
Reinsurance - Nonproportional Assumed
Liability
14136 SELECT MD RRG
NEBRASKA
NEVADA
14425 ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION
GROUP, INC.
13973 GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP,
INC.
NAIC Company Name
OKLAHOMA
SOUTH CAROLINA
11581 GRACO RRG INC
12014 GUTHRIE RRG
11684 LVHN RRG
12019 REPUBLIC RRG
NAIC Company Name
TENNESSEE
TEXAS
UTAH
VIRGINIA
VERMONT
12934 ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION
GROUP
11531 CHC CAS RRG
Warranty
NAIC Company Name
13059 NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP
11575 PACE RRG INC
GROUP
NAIC Company Name
Warranty
11682 WELLSPAN RRG
WEST VIRGINIA
®
Analysis by Company
®
®
Risk Retention Groups - Selected Statutory Balance Sheet and Schedule P Data
NAIC
12934
COMPANY
ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE
RISK RETENTION GROUP
Cash & Invested
Assets
Reinsurance
Recoverables
Other Assets
Total Assets
Loss & LAE
Reserves
Unearned
Premium Reserve
Other Liabilities
Total Liabilities
Policyholders'
Surplus
1 Year
Development
(000s)
2 Year
Development
(000s)
$2,685,410
$0
$437,499
$3,122,909
$324,204
$79,500
$1,087,320
$1,491,024
$1,631,885
($244)
$73
12166
ADVANCED PHYSICIANS INS RRG INC
$1,456,159
$0
$138,422
$1,594,581
$0
$0
$15,195
$15,195
$1,579,386
$0
$0
12252
AEGIS HEALTHCARE RRG, INC.
$2,323,282
$0
$964,281
$3,287,563
$1,674,668
($126,511)
$539,268
$2,087,425
$1,200,137
($156)
($162)
13677
AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP
$3,967,213
$0
$1,067,834
$5,035,047
$643,771
$0
$1,350,088
$1,993,859
$3,041,188
($2)
$0
13606
AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION
GROUP
$1,406,825
$0
$506,033
$1,912,858
$2,810,484
$0
$41,878
$2,852,362
($939,504)
$0
$0
28380
AGRI INSURANCE EXCHANGE RRG
$14,042,928
$0
$133,474
$14,176,402
$1,940,000
$0
$334,410
$2,274,410
$11,901,992
($211)
($478)
11965
ALLEGIANT INS CO INC A RRG
$13,231,556
$1,741,402
$832,397
$15,805,355
$8,207,939
$0
$2,601,603
$10,809,542
$4,995,813
$1,460
$2,905
10023
ALLIANCE OF NONPROFITS FOR INS RRG
$46,621,313
$0
$10,465,784
$57,087,097
$20,435,773
$7,407,252
$1,359,153
$29,202,178
$27,884,919
$258
($973)
11710
ALLIED PROFESSIONALS INSURANCE COMPANY, RRG
$28,789,593
$0
$2,742,307
$31,531,900
$7,917,387
$8,161,001
$2,450,209
$18,528,597
$13,003,304
$31
($964)
12013
ALLIED SERVICES RISK RETENTION GROUP
$6,323,447
$0
$25,150
$6,348,597
$3,318,088
$503,329
$98,138
$3,919,555
$2,429,042
$657
$553
10232
AMERICAN ASSOC OF OTHODONTISTS RRG
$35,795,123
$0
$1,559,113
$37,354,236
$20,686,761
$3,457,460
$2,290,735
$26,434,956
$10,919,280
($5,815)
($7,603)
($3)
12631
AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.
$1,160,699
$42,758
$27,243
$1,230,700
$110,307
$0
$328,316
$438,623
$792,077
$0
12300
AMERICAN CONTRACTORS INS CO RRG
$7,566,008
$0
$11,276,264
$18,842,272
$0
$0
$11,589,017
$11,589,017
$7,253,255
$0
$0
10903
AMERICAN EXCESS INS EXCHANGE RRG
$404,340,463
$0
$2,553,989
$406,894,452
$147,562,159
$9,629,985
$11,812,076
$169,004,220
$237,890,232
($16,424)
($33,172)
44202
AMERICAN FEED INDUSTRY INS CO RRG
$3,672,782
$0
$74,950
$3,747,732
$969,660
$0
$95,982
$1,065,642
$2,682,090
($538)
($1,427)
11590
AMERICAN FOREST CASUALTY COMPANY RRG
$8,555,162
$0
$503,743
$9,058,905
$4,090,843
$842,161
$337,846
$5,270,850
$3,788,055
($994)
($1,202)
25448
AMERICAN SAFETY RRG INC
$12,650,685
$0
$8,049,745
$20,700,430
$3,831,459
$3,974,714
$3,061,640
$10,867,813
$9,832,617
($47,639)
($43,660)
11534
AMERICAN TRUCKING AND TRANSPORTATION INSURANCE
COMPANY, RRG
$14,219,731
$213,825
$822,887
$15,256,443
$5,551,608
$2,938,625
$2,343,354
$10,833,587
$4,422,856
($557)
($513)
12171
AMERIGUARD RRG INC
$11,853,733
$0
$356,407
$12,210,140
$2,388,860
$4,000
$2,307,514
$4,700,374
$7,509,765
($325)
($2,566)
11598
APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.
$72,723,257
$247,855
$19,348,387
$92,319,499
$46,206,085
$19,656,779
$1,338,707
$67,201,571
$25,117,928
($4,526)
($5,321)
44148
ARCHITECTS & ENGINEERS INS CO RRG
$12,320,225
$0
$9,390,321
$21,710,546
$3,538,345
$2,678,800
$5,918,345
$12,135,490
$9,575,056
($422)
($403)
13177
ARCOA RISK RETENTION GROUP, INC.
$10,578,542
$0
$1,977,647
$12,556,189
$10,041,522
$0
$313,252
$10,354,774
$2,201,415
$2,934
$3,473
13580
ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK
RETENTION GROUP
$1,419,178
$0
$1,122,252
$2,541,430
$150,000
$288,470
$199,940
$638,410
$1,903,020
($125)
($75)
12224
ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.
$1,972,317
$0
$23,095
$1,995,412
$534,315
$0
$414,919
$949,234
$1,046,178
($89)
$43
14425
ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK
RETENTION GROUP, INC.
$1,002,674
$0
$2,169
$1,004,843
$0
$0
$8,553
$8,553
$996,290
$0
$0
33677
ATTORNEYS INS MUTUAL OF ALABAMA INC
$15,047,603
$0
$597,990
$15,645,593
$4,275,844
$1,132,627
$2,240,872
$7,649,343
$7,996,250
($699)
($1,416)
22670
ATTORNEYS INSURANCE MUTUAL RRG INC
$13,861,935
$0
$912,553
$14,774,488
$4,732,423
$1,771,530
$730,841
$7,234,794
$7,539,694
$625
$1,021
10639
ATTORNEYS LIAB ASSUR SOCIETY INC RRG
$112,199,500
$0
$41,495,279
$153,694,779
$56,895,753
$41,370
$37,527,030
$94,464,153
$59,230,626
$1,756
($834)
32450
ATTORNEYS LIAB PROTECTION SOC RRG
$87,245,762
$0
$8,802,409
$96,048,171
$42,759,706
$12,413,333
$7,229,319
$62,402,358
$33,645,813
($2,637)
($4,055)
13795
ATTPRO RRG RECIPROCAL RISK RETENTION GROUP
$1,427,726
$0
$80,236
$1,507,962
$4,956
$4,402
$84,440
$93,798
$1,414,164
$0
$0
13791
AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.
$1,449,167
$0
$1,363,806
$2,812,973
$267,942
$1,271,962
$231,751
$1,771,655
$1,041,318
($135)
($14)
10174
BAR VERMONT RISK RETENTION GROUP INC
$20,878,902
$0
$1,824,580
$22,703,482
$4,913,329
$1,512,904
$2,412,965
$8,839,198
$13,864,284
($394)
($1,450)
12933
BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.
$25,144,096
$0
$6,916,346
$32,060,442
$17,294,743
$0
$9,650,700
$26,945,443
$5,114,999
($647)
($2,290)
14169
BEST CARE INSURANCE COMPANY RISK RETENTION GROUP, INC.
13010
BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION
GROUP
$524,182
$0
$5,023
$529,205
$0
$6,584
$11,264
$17,848
$511,357
$0
$0
$2,237,425
$0
$370,257
$2,607,682
$49,146
$1,061,850
$337,523
$1,448,519
$1,159,163
$0
$2
13788
BROADLINE RISK RETENTION GROUP, INC.
$68,370,266
$0
$25,061,658
$93,431,924
$53,120,999
$9,696,195
$622,810
$63,440,004
$29,991,920
($5,829)
($8,662)
44504
CALIFORNIA HEALTHCARE INS CO INC RRG
$96,275,817
$0
$18,117,070
$114,392,887
$52,283,879
$8,385,295
$8,318,358
$68,987,532
$45,405,355
($4,836)
($10,173)
12180
CALIFORNIA MEDICAL GRP INS CO RRG
$12,339,907
$0
$1,498,657
$13,838,564
$5,335,682
$982,440
$778,498
$7,096,620
$6,741,944
($1,734)
($2,738)
11825
CARE RRG, INC.
$11,412,223
$489,960
$1,728,404
$13,630,587
$5,570,202
$2,612,770
$769,505
$8,952,477
$4,678,110
($433)
($1,102)
11544
CAREGIVERS UNITED LIAB INS CO RRG
$34,037,364
$0
$1,790,884
$35,828,248
$9,095,030
$1,528,557
$1,294,376
$11,917,963
$23,910,284
($3,882)
($5,324)
12373
CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP
$45,048,142
$0
$36,231,820
$81,279,962
$9,959,067
$0
$36,282,652
$46,241,719
$35,038,241
($512)
($665)
10808
CASSATT RISK RETENTION GROUP INC
$6,166,918
$0
$2,735,120
$8,902,038
$476,231
$50,000
$4,726,227
$5,252,458
$3,649,580
$100
$99
NAIC
COMPANY
Cash & Invested
Assets
Reinsurance
Recoverables
Other Assets
Total Assets
Loss & LAE
Reserves
Unearned
Premium Reserve
Other Liabilities
Total Liabilities
Policyholders'
Surplus
1 Year
Development
(000s)
2 Year
Development
(000s)
13784
CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP
$1,147,658
$0
$120,114
$1,267,772
$26,740
$0
$78,741
$105,481
$1,162,291
($55)
($6)
11694
CENTRAL PA PHYSICIANS RRG INC
$58,733,388
$0
$2,032,321
$60,765,709
$31,269,860
$4,467,517
$4,487,531
$40,224,908
$20,540,799
$1,978
$7,147
11976
CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.
$13,136,353
$0
$2,618,757
$15,755,110
$4,717,065
$1,441,765
$1,193,974
$7,352,804
$8,402,306
($2,465)
($2,364)
12167
CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG
$3,456,330
$250,082
$72,875
$3,779,287
$210,011
$0
$138,993
$349,004
$3,430,282
($179)
($62)
11531
CHC CAS RRG
$37,367,020
$0
$303,699
$37,670,719
$17,954,836
$0
$2,848,351
$20,803,187
$16,867,531
($6,888)
($5,656)
14388
CHEROKEE GUARANTEE COMPANY INC., RRG
$1,892,557
$0
$2,882,491
$4,775,048
$709,940
$1,869,072
$684,147
$3,263,159
$1,511,888
$0
$0
11839
CIRCLE STAR INS CO RRG
$2,335,942
$0
$18,863
$2,354,805
$452,097
$0
$579,498
$1,031,595
$1,323,210
($49)
$0
($180)
12172
CLAIM PROFESSIONALS LIAB INS CO RRG
$2,182,711
$0
$894,114
$3,076,825
$690,356
$231,082
$534,101
$1,455,539
$1,621,286
($141)
11992
CLARIAN HLTH RRG INC
$2,230,486
$0
$3,025,614
$5,256,100
$0
$0
$2,717,719
$2,717,719
$2,538,381
$0
$0
43770
CLINIC MUTUAL INSURANCE CO RRG
$2,946,350
$0
$141,121
$3,087,471
$162,150
$18,270
$15,644
$196,064
$2,891,407
$39
($180)
13756
CMIC RISK RETENTION GROUP
$3,410,002
$0
$215,940
$3,625,942
$37,073
$123,978
$448,723
$609,774
$3,016,168
$0
$0
11668
COASTAL INS RRG INC
$47,965,524
$0
$2,524,942
$50,490,466
$15,825,604
$729,432
$15,921,246
$32,476,282
$18,014,184
($5,269)
($7,251)
44598
COLLEGE LIABILITY INS CO A RECIP RRG
$11,132,718
$0
$2,180,325
$13,313,043
$3,006,473
$1,120,848
$44,836
$4,172,157
$9,140,886
($274)
($818)
13613
COLLEGE RISK RETENTION GROUP, INC.
$14,834,912
$0
$348,515
$15,183,427
$6,703,767
$3,227,215
$177,033
$10,108,015
$5,075,412
($1,025)
($947)
10803
COLUMBIA NATIONAL RRG INC
$1,617,152
$0
$49,922
$1,667,074
$0
$294,459
$296,715
$591,174
$1,075,900
$0
$0
11864
COMCARE PRO INS RECIPROCAL RRG
$3,423,372
$0
$536,945
$3,960,317
$728,000
$543,492
$66,547
$1,338,039
$2,622,278
$288
$379
11807
COMMUNITIES OF FAITH RRG INC
$14,119,915
$0
$257,507
$14,377,422
$808,980
$0
$117,437
$926,417
$13,451,005
($484)
($789)
13893
COMMUNITY BLOOD CENTERS EXCH RRG
$20,285,469
$0
$1,245,293
$21,530,762
$4,372,161
$1,386,174
$2,692,440
$8,450,775
$13,079,987
($1,373)
($2,280)
11536
COMMUNITY HEALTH ALLIANCE RECIP RRG
$105,865,395
$0
$662,532
$106,527,927
$39,487,029
$0
$42,757,414
$82,244,443
$24,283,485
($1,952)
$1,513
11259
COMMUNITY HOSPITAL RRG
$212,386,982
$0
$3,776,459
$216,163,441
$119,304,326
$0
$17,334,182
$136,638,508
$79,524,934
($8,560)
($19,639)
10075
CONSUMER SPECIALTIES INSURANCE COMPANY RRG
$4,393,092
$645,646
$326,086
$5,364,824
$1,640,706
$214,911
$136,507
$1,992,124
$3,372,700
($163)
($364)
11798
CONTINUING CARE RRG, INC.
$517,058
$0
$3,178,193
$3,695,251
$98,195
$0
$659,992
$758,187
$2,937,064
($409)
($304)
11603
CONTRACTORS INS CO OF NORTH AMER RRG
$38,396,404
$0
$1,589,445
$39,985,849
$22,427,442
$407,039
$246,444
$23,080,925
$16,904,925
($886)
$10,091
10341
CONTROLLED RISK INS CO OF VT RRG
$54,395,941
$0
$1,003,131
$55,399,072
$16,852,415
$0
$5,022,688
$21,875,103
$33,523,969
($2,534)
($2,382)
12042
COOPERATIVE OF AMERICAN PHYSICIANS INSURANCE
COMPANY, INC., A RRG
$31,905,435
$0
$767,237
$32,672,672
$10,513,425
$33,333
$454,498
$11,001,256
$21,671,416
($1,253)
$0
14160
COVERYS RRG, INC.
$4,916,997
$0
$61,627
$4,978,624
$1,281
$2,209
$67,498
$70,988
$4,907,636
$0
$0
10164
CPA MUTUAL INS CO OF AMERICA RRG
$17,759,078
$106,759
$5,629,853
$23,495,690
$8,339,893
$1,426,986
$3,593,212
$13,360,091
$10,135,599
$1,116
($659)
13720
CROSSFIT RISK RETENTION GROUP, INC.
$1,771,261
$0
$431,973
$2,203,234
$341,282
$600,329
$154,545
$1,096,156
$1,107,078
($35)
($20)
11676
CRUDEN BAY RRG INC
$13,474,718
$0
$96,217
$13,570,935
$6,506,200
$0
$103,373
$6,609,573
$6,961,362
($5,038)
($3,546)
13655
CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP
$8,276,494
$0
$2,131,737
$10,408,231
$2,474,790
$888,590
$3,015,788
$6,379,168
$4,029,063
$56
($87)
43125
DELAWARE PROFESSIONAL INSURANCE CO
$9,517,896
$0
$227,498
$9,745,394
$4,765,001
$913,449
$133,018
$5,811,468
$3,933,926
($29)
($1,671)
13018
DOCTORS & SURGEONS NATIONAL RRG
$7,208,521
$0
$2,747,660
$9,956,181
$3,385,692
$3,010,233
$971,164
$7,367,089
$2,589,092
($47)
($16)
11842
DUBOIS MEDICAL RRG
$7,686,487
$0
$1,114,414
$8,800,901
$1,582,199
$724,881
$120,002
$2,427,082
$6,373,822
($1,021)
($900)
10115
EASTERN DENTISTS INS CO RRG
$40,719,879
$554,894
$6,540,971
$47,815,744
$20,760,000
$6,075,154
$2,169,837
$29,004,991
$18,810,753
($3,071)
($6,413)
10125
ELITE TRANSPORTATION RRG INC
$8,893,845
$0
$3,836,039
$12,729,884
$5,452,867
$861,733
$4,067,216
$10,381,816
$2,348,068
$565
$774
14163
EMERGENCY CAPITAL MANAGEMENT, LLC, RRG
$2,359,454
$349,782
$33,484
$2,742,720
$768,948
$0
$172,108
$941,056
$1,801,664
$0
$0
12003
EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY
RRG (EMPAC)
$11,596,603
$610,737
$8,892,211
$21,099,551
$7,739,201
$1,573,012
$5,785,466
$15,097,679
$6,001,872
($597)
($1,072)
12015
EMERGENCY MEDICINE RRG INC
$8,140,670
$0
$2,726,893
$10,867,563
$3,906,987
$1,232,859
$717,911
$5,857,757
$5,009,806
$28
$486
11714
EMERGENCY PHYSICIANS INS CO RRG
$36,291,306
$1,558,540
$3,651,582
$41,501,428
$27,610,401
$3,238,853
$1,762,193
$32,611,447
$8,889,981
$559
$823
38466
EVERGREEN USA RRG INC
$11,016,696
$0
$3,738,058
$14,754,754
$5,860,211
$1,694,569
$784,496
$8,339,276
$6,415,478
($534)
($1,182)
11840
FAIRWAY PHYSICIANS INS CO RRG
$18,105,355
$2,786,221
$6,341,014
$27,232,590
$15,212,486
$4,891,685
$599,585
$20,703,756
$6,528,835
($2,006)
$4,791
11698
FAITH AFFILIATED RRG INC
$8,220,217
$0
$106,483
$8,326,700
$2,781,205
$571,814
$128,121
$3,481,140
$4,845,560
($79)
$633
14439
FIDUCIARIES RISK RETENTION GROUP, INC.
$502,883
$0
$1,519
$504,402
$0
$0
$0
$0
$504,402
$0
$0
11801
FIRST KEYSTONE RISK RETENTION GROUP, INC.
$7,558,533
$0
$6,725,351
$14,283,884
$7,213,925
$3,515,463
$986,419
$11,715,807
$2,568,077
$1,295
$4,360
NAIC
COMPANY
Cash & Invested
Assets
Reinsurance
Recoverables
Other Assets
Total Assets
Loss & LAE
Reserves
Unearned
Premium Reserve
Other Liabilities
Total Liabilities
Policyholders'
Surplus
1 Year
Development
(000s)
2 Year
Development
(000s)
11278
FIRST MEDICAL INS CO RRG
$109,794,057
$0
$742,014
$110,536,071
$38,727,188
$5,530,666
$1,620,964
$45,878,818
$64,657,253
$4,136
($1,674)
12625
FORT WAYNE MEDICAL SURETY COMPANY, RRG
$4,086,488
$0
$318,342
$4,404,830
$1,189,692
$525,902
$275,182
$1,990,776
$2,414,054
($193)
($118)
10842
FRANKLIN CASUALTY INS CO RRG
$2,540,948
$0
$29,749,698
$32,290,646
$6,682,299
$1,712,962
$21,185,708
$29,580,969
$2,709,677
$431
$175
12016
FREDERICKSBURG PROFESSIONAL RISK EXC
$14,654,730
$0
$5,752,081
$20,406,811
$7,207,838
$0
$3,124,335
$10,332,173
$10,074,638
($1,959)
($2,310)
14032
GABLES RISK RETENTION GROUP, INC.
$1,217,137
$0
$2,040,017
$3,257,154
$1,231,252
$251,720
$72,416
$1,555,388
$1,701,766
$0
$0
12000
GEISINGER INS CORP RRG
$2,984,950
$0
$15,659,736
$18,644,686
$955,000
$526,176
$5,865,633
$7,346,809
$11,297,877
$0
$0
10163
GENERAL EASTERN SKI INS RRG INC
$776,921
$0
$659,937
$1,436,858
$221,986
$0
$130,149
$352,135
$1,084,723
$77
($81)
13782
GERIC INSURANCE RISK RETENTION GROUP, INC.
$2,011,849
$0
$5,983
$2,017,832
$2,703
$16,548
$0
$19,251
$1,998,581
$0
$0
11948
GLOBAL HAWK INSURANCE COMPANY RRG
$10,800,993
$871,427
$2,551,887
$14,224,307
$4,035,356
$5,092,832
$425,177
$9,553,365
$4,670,942
($161)
$468
10991
GLOBAL INTL INS CO INC A RRG
$18,964,071
$0
$945,491
$19,909,562
$0
$0
$787,660
$787,660
$19,121,902
$0
$0
11145
GOLDEN INS CO RRG
$3,926,034
$0
$1,537,747
$5,463,781
$929,384
$2,053,112
$282,051
$3,264,547
$2,199,234
$399
$505
12512
GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.
$3,831,981
$0
$6,467
$3,838,448
$1,434,589
$0
$36,948
$1,471,537
$2,366,909
$934
$2,532
13973
GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK
RETENTION GROUP, INC.
$671,029
$0
$615,232
$1,286,261
$0
$313,976
$456,651
$770,627
$515,634
$0
$0
11581
GRACO RRG INC
11941
GREEN HILLS INS CO RRG
$449,864
$0
$121,839
$571,703
$0
$0
$52,857
$52,857
$518,846
$0
$0
$21,492,984
$86,270
$2,496,227
$24,075,481
$6,573,045
$2,225,060
$1,290,985
$10,089,090
$13,986,391
($2,230)
($3,107)
11696
GUARDIAN RRG INC
$5,252,975
$0
$126,593
$5,379,568
$2,159,772
$0
$115,639
$2,275,411
$3,104,157
$50
($647)
12014
GUTHRIE RRG
$41,238,641
$0
$4,409,742
$45,648,383
$24,277,150
$3,869,739
$289,183
$28,436,072
$17,212,311
($645)
($7,532)
13057
HAMDEN ASSURANCE RRG, INC.
$2,670,135
$0
$85,543,763
$88,213,898
$0
$0
$86,678,456
$86,678,456
$1,535,442
$0
$0
12236
HEALTH CARE CAS RRG INC
$15,706,122
$0
$2,260,358
$17,966,480
$5,706,124
$896,127
$9,562,192
$16,164,443
$1,802,038
($873)
($1,069)
11813
HEALTH NETWORK PROVIDERS MUT INS CO
$6,843,876
$0
$617,383
$7,461,259
$2,989,948
$489,727
$1,149,913
$4,629,588
$2,831,671
($861)
($1,366)
10080
HEALTH PROVIDERS INS RECIPROCAL RRG
$74,927,429
$0
$5,849,117
$80,776,546
$26,702,595
$5,023,147
$1,121,215
$32,846,957
$47,929,589
($4,564)
($7,265)
11832
HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE
COMPANY, RRG (HEALTHCAP RRG)
$19,931,425
$289,070
$21,849,942
$42,070,437
$9,197,918
$2,001,714
$21,744,305
$32,943,937
$9,126,501
$898
$933
11683
HEALTHCARE PROVIDERS INS CO RRG
$67,180,868
$0
$2,618,822
$69,799,690
$20,093,804
$4,674,655
$4,375,498
$29,143,957
$40,655,733
($4,030)
($4,726)
11998
HEARTLAND HEALTHCARE RECIP RRG
$14,224,937
$0
$251,971
$14,476,908
$5,904,572
$0
$230,823
$6,135,395
$8,341,513
($1,036)
($1,464)
11097
HERITAGE WARRANTY INS RRG INC
$995,650
$0
$0
$995,650
$10,600
$195,036
$102,514
$308,150
$687,501
($72)
($161)
11950
HOME CONSTRUCTION INS CO RRG
$6,106,259
$0
$128,054
$6,234,313
$3,319,882
$12,324
$620,226
$3,952,432
$2,281,881
($112)
($401)
26797
HOUSING AUTHORITY RRG INC
$296,261,341
$0
$9,501,282
$305,762,623
$87,964,919
$12,343,821
$13,024,182
$113,332,922
$192,429,700
($21,612)
($49,706)
41246
HOW INSURANCE COMPANY, A RISK RETENTION GROUP
$121,992,989
$0
$1,243,904
$123,236,893
$1,663,000
$0
$11,622,429
$13,285,429
$109,951,468
$25,901
$49,360
11268
ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP
$286,104,966
$2,575,418
$25,369,584
$314,049,968
$57,884,030
$12,274,968
$19,251,927
$89,410,925
$224,639,043
($9,488)
($16,933)
12018
INDEMNITY INSURANCE CORPORATION, RRG
$23,778,120
$618,961
$38,336,269
$62,733,350
$14,801,033
$19,240,383
$5,640,679
$39,682,095
$23,051,255
$1,185
$256
11692
INDIANA HEALTHCARE RECIP RRG
$27,014,628
$0
$416,822
$27,431,450
$11,017,945
$0
$909,210
$11,927,155
$15,504,295
($1,744)
($3,698)
$503
12320
INNOVATIVE PHYSICIAN SOLUTIONS RRG
$4,032,342
$0
$1,083,905
$5,116,247
$2,112,464
$596,329
$55,255
$2,764,048
$2,352,199
$447
14375
IRONSHORE RISK RETENTION GROUP, INC.
$252,876
$0
$2,128,796
$2,381,672
$7,641
$61,359
$1,296,920
$1,365,920
$1,015,752
$0
$0
12594
J.M. WOODWORTH RRG, INC.
$14,410,545
$1,764,654
$4,753,007
$20,928,206
$10,922,275
$5,292,122
$326,153
$16,540,550
$4,387,656
($551)
$2,039
11872
KENTUCKIANA MEDICAL RECIPROCAL RRG
$49,802,021
$0
$3,215,867
$53,017,888
$19,674,951
($656,602)
$1,963,444
$20,981,793
$32,036,095
($5,615)
($9,069)
11939
KENTUCKY HOSPITAL INS CO RRG
$17,929,668
$0
$854,334
$18,784,002
$8,528,092
$204,466
$605,795
$9,338,353
$9,445,649
$396
($1,460)
11803
LAKE STREET RRG INC
$2,760,631
$0
$100
$2,760,731
$1,039,022
$0
$96,801
$1,135,823
$1,624,908
$143
($103)
14444
LAMMICO RRG, INC.
$600,000
$0
$48,321
$648,321
$988
$1,799
$49,009
$51,796
$596,525
$0
$0
13014
LANCET INDEMNITY RISK RETENTION GROUP, INC.
$11,636,823
$0
$4,942,142
$16,578,965
$7,019,538
$4,352,299
$1,479,014
$12,850,851
$3,728,114
$1,099
$788
11500
LENDERS PROTECTION ASSUR CO RRG
$2,387,754
$0
$80,906
$2,468,660
$0
$0
$69,221
$69,221
$2,399,439
$0
$0
12627
LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY
$5,181,410
$0
$1,842,760
$7,024,170
$4,409,310
$586,667
$381,322
$5,377,299
$1,646,880
$219
$1,232
$7,065,725
$0
$160,432
$7,226,157
$2,122,967
$0
$36,952
$2,159,919
$5,066,238
($50)
($36)
$503,812
$0
$38,448
$542,260
$0
$10
$1,155
$1,165
$541,094
$0
$0
$37,121,624
$0
$11,886,829
$49,008,453
$0
$0
$44,008,453
$44,008,453
$5,000,000
$0
$0
11958
LIFE SERVICES NETWORK RECIP INS RRG
14084
LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP
11684
LVHN RRG
NAIC
12554
COMPANY
MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION
GROUP
Cash & Invested
Assets
Reinsurance
Recoverables
Other Assets
Total Assets
Loss & LAE
Reserves
Unearned
Premium Reserve
Other Liabilities
Total Liabilities
Policyholders'
Surplus
1 Year
Development
(000s)
2 Year
Development
(000s)
$2,412,352
$0
$821,696
$3,234,048
$984,296
$452,019
$331,782
$1,768,097
$1,465,951
($241)
($282)
($265)
11117
MARATHON FIN INS CO INC RRG
$3,032,539
$0
$8,702,805
$11,735,344
$50,000
$135,921
$9,084,055
$9,269,976
$2,465,368
($65)
10697
MCIC VERMONT INC RRG
$27,215,602
$0
$109,700,130
$136,915,732
$16,149,978
$0
$109,518,146
$125,668,124
$11,247,608
$0
$4
12355
MD RISK RETENTION GROUP, INC.
$15,378,675
$19,654
$493,059
$15,891,388
$6,022,242
$0
$1,166,878
$7,189,120
$8,702,266
($3,308)
($3,923)
26257
MEDAMERICA MUTUAL RRG INC
$69,668,886
$0
$1,896,751
$71,565,637
$27,735,149
$129,132
$9,575,904
$37,440,185
$34,125,452
($4,156)
($8,759)
13589
MEDPRO RRG RISK RETENTION GROUP
$5,062,861
$0
$8,554,009
$13,616,870
$1,185,776
$822,302
$8,749,716
$10,757,794
$2,859,076
($16)
($17)
10124
MEDSTAR LIABILITY LTD INS CO INC RRG
$3,823,636
$0
$43,765
$3,867,401
$1,758,109
$90,347
$553,076
$2,401,532
$1,465,869
($868)
($952)
44237
MENTAL HEALTH RISK RETENTION GROUP
$22,647,629
$0
$1,145,276
$23,792,905
$9,778,119
$1,609,238
$775,745
$12,163,102
$11,629,803
($1,727)
($3,728)
11999
MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP
$4,360,400
$0
$2,016,859
$6,377,259
$3,670,657
$490,720
$498,797
$4,660,174
$1,717,088
($224)
($86)
14219
MILLBROOK NMF RISK RETENTION GROUP, INC.
$963,298
$0
$47,659
$1,010,957
$98,017
($640,626)
$661,090
$118,481
$892,476
$0
$0
14062
MMIC RRG, INC.
$158,574
$0
$400,000
$558,574
$0
$311
$20,920
$21,231
$537,342
$0
$0
13812
MOUNTAIN LAKE RISK RETENTION GROUP, INC.
$634,078
$0
$1,380,416
$2,014,494
$553,000
$166,667
$125,436
$845,103
$1,169,391
($11)
($470)
11547
MOUNTAIN LAUREL RRG INC
$14,973,655
$0
$5,677,258
$20,650,913
$11,204,000
$2,680,688
$1,251,262
$15,135,950
$5,514,963
$931
($69)
11585
MOUNTAIN STATES HEALTHCARE RECIP RRG
$97,089,186
$0
$1,753,466
$98,842,652
$46,172,722
$770,000
$8,353,558
$55,296,280
$43,546,372
($10,056)
($18,585)
12779
MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.
$26,025,203
$0
$2,159,439
$28,184,642
$12,630,140
$0
$673,707
$13,303,847
$14,880,795
($1,426)
($4,775)
14366
NASW RISK RETENTION GROUP, INC.
$844,539
$0
$1,137,773
$1,982,312
$2,940
$38,763
$496,962
$538,665
$1,443,647
$0
$0
11806
NATIONAL ASSISTED LIVING RRG, INC.
$7,308,847
$0
$295,260
$7,604,107
$2,916,000
$707,300
$487,474
$4,110,774
$3,493,333
($378)
($617)
12235
NATIONAL BUILDERS & CONTRACTORS INS
$4,001,682
$0
$912,015
$4,913,697
$2,987,654
$126,519
$400,526
$3,514,699
$1,398,998
($6)
($402)
10083
NATIONAL CATHOLIC RRG
$63,770,023
$0
$1,963,259
$65,733,282
$39,778,005
$5,736,211
$1,517,341
$47,031,557
$18,701,725
($299)
$3,112
12293
NATIONAL CONTRACTORS INS CO INC RRG
$6,131,068
$2,339,605
$1,973,629
$10,444,302
$4,668,851
$469,329
$1,544,495
$6,682,675
$3,761,627
$911
$1,120
36072
NATIONAL GUARDIAN RISK RETENTION GROUP
$12,459,156
$1,660,579
$2,194,256
$16,313,991
$8,820,315
$0
$1,513,480
$10,333,795
$5,980,196
($381)
($1,403)
44016
NATIONAL HOME INSURANCE CO RRG
$46,074,730
$0
$2,531,791
$48,606,521
$5,235,958
$14,418,122
$9,934,543
$29,588,623
$19,017,898
($11)
($918)
11197
NATIONAL INDEPENDENT TRUCKERS IC RRG
$4,822,101
$374,346
$4,002,629
$9,199,076
$1,953,877
$960,930
$858,400
$3,773,207
$5,425,869
$153
($118)
12529
NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP,
INC.
$2,760,375
$0
$3,952,367
$6,712,742
$0
$0
$3,493,492
$3,493,492
$3,219,249
$0
$0
10234
NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)
$11,989,480
$0
$564,421
$12,553,901
$20,000
$1,568,661
$158,295
$1,746,956
$10,806,945
$0
($5)
14130
NCMIC RISK RETENTION GROUP, INC.
$1,792,507
$0
$28
$1,792,535
$0
$0
$0
$0
$1,792,535
$0
$0
12539
NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.
$3,104,428
$0
$187,178
$3,291,606
$1,452,818
$289,751
$1,016,874
$2,759,443
$532,163
($456)
($913)
13792
NEW HOME WARRANTY INSURANCE COMPANY, A RISK
RETENTION GROUP
$10,933,543
$0
$1,731,130
$12,664,673
$156,330
$4,450,035
$2,261,437
$6,867,802
$5,796,871
($26)
($11)
12532
NEW STAR RISK RETENTION GROUP, INC.
$6,878,416
$1,061,723
$1,397,146
$9,337,285
$2,687,078
$1,005,626
$1,504,376
$5,197,080
$4,140,205
$916
$560
12275
NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG
$12,152,927
$0
$7,267,822
$19,420,749
$12,231,413
$4,042,917
($1,848,443)
$14,425,887
$4,994,862
$2,010
$2,968
13059
NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK
RETENTION GROUP
$9,378,196
$0
$57,796
$9,435,992
$5,316,447
$426,658
$1,996,310
$7,739,415
$1,696,577
$205
($313)
10752
NOVUS INS CO RRG
$3,043,805
$0
$2,107,632
$5,151,437
$16,251,802
$635,644
($13,526,824)
$3,360,622
$1,790,815
$2,638
$8,619
13644
OASIS RECIPROCAL RISK RETENTION GROUP
$5,652,618
$0
$3,458,828
$9,111,446
$3,290,899
$1,412,434
$2,584,892
$7,288,225
$1,823,221
($690)
($1,110)
12845
OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF
AMERICA, INC.
$1,153,541
$0
$623,699
$1,777,240
$1,180,856
$358,772
($542,142)
$997,486
$779,754
($110)
$396
10158
OCEAN RRG INC
$2,952,843
$0
$5,659,933
$8,612,776
$5,871,989
$1,236,682
$146,102
$7,254,773
$1,358,003
$2,291
$2,856
12189
OCEANUS INS CO A RRG
$66,118,571
$0
$15,742,083
$81,860,654
$39,893,050
$15,659,336
$5,817,824
$61,370,210
$20,490,443
$818
$2,134
13062
OLYMPIA RISK RETENTION GROUP, INC.
$132,787
$0
$923,456
$1,056,243
$756,956
$0
$108,378
$865,334
$190,909
($407)
($277)
44121
OMS NATL INS CO RRG
$332,656,971
$0
$50,325,578
$382,982,549
$153,761,068
$46,221,719
$16,386,954
$216,369,741
$166,612,808
($12,270)
($24,988)
10353
OOIDA RISK RETENTION GROUP INC
$38,801,368
$0
$23,144,004
$61,945,372
$16,686,668
$5,551,843
$19,625,294
$41,863,805
$20,081,567
($2,427)
($4,880)
44105
OPHTHALMIC MUTUAL INS CO RRG
$234,256,559
$0
$11,694,776
$245,951,335
$55,791,199
$23,647,001
$16,979,637
$96,417,837
$149,533,498
($3,482)
($8,639)
12183
ORANGE COUNTY MEDICAL RECIP INS RRG
$5,067,423
$0
$1,031,510
$6,098,933
$1,124,717
$0
$369,024
$1,493,741
$4,605,192
($1,205)
($1,187)
10171
ORDINARY MUTUAL A RRG CORP
$17,679,907
$0
$538,997
$18,218,904
$7,003,318
$0
$1,004,543
$8,007,861
$10,211,043
($1,315)
($2,806)
NAIC
14260
COMPANY
ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION
GROUP)
Cash & Invested
Assets
Reinsurance
Recoverables
Other Assets
Total Assets
Loss & LAE
Reserves
Unearned
Premium Reserve
Other Liabilities
Total Liabilities
Policyholders'
Surplus
1 Year
Development
(000s)
2 Year
Development
(000s)
$4,690,806
$0
$2,646,730
$7,337,536
$1,012,643
$2,122,377
$839,127
$3,974,147
$3,363,389
$0
$0
11575
PACE RRG INC
$4,846,287
$7,297,473
$3,966,281
$16,110,041
$6,532,438
$103,535
$6,641,791
$13,277,764
$2,832,277
$1,895
$1,997
44130
PARATRANSIT INSURANCE COMPANY, RRG
$21,003,903
$237,500
$2,032,527
$23,273,930
$8,100,000
$1,576,306
$3,017,460
$12,693,766
$10,580,164
($3,279)
($5,183)
11973
PCH MUTUAL INSURANCE COMPANY, RRG
$7,448,007
$0
$720,951
$8,168,958
$3,122,593
$1,198,101
$464,998
$4,785,692
$3,383,266
($1,338)
($1,169)
11846
PEACE CHURCH RRG INC
$19,505,216
$0
$251,073
$19,756,289
$6,163,830
$0
$475,992
$6,639,822
$13,116,466
($1,792)
($3,507)
11772
PEDIATRICANS INS RRG OF AMER
$587,261
$0
$45,348
$632,609
$542,525
$0
($9,977)
$532,548
$100,061
$303
$57
11587
PELICAN INS RRG
$17,014,699
$159,562
$138,970
$17,313,231
$2,647,479
$420,428
$96,901
$3,164,808
$14,148,423
($357)
($1,501)
($308)
12004
PHOEBE RECIPROCAL RRG
$4,951,093
$0
$26,415
$4,977,508
$1,380,906
$0
$46,692
$1,427,598
$3,549,910
($235)
13995
PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.
$982,812
$0
$1,458,703
$2,441,515
$349,400
$376,081
$1,201,819
$1,927,300
$514,215
($38)
$0
12746
PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.
$5,800,188
$0
$1,385,455
$7,185,643
$3,354,369
$1,439,812
$550,171
$5,344,352
$1,841,291
($403)
($676)
12918
PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK
RETENTION GROUP
$4,718,364
$0
$1,003,527
$5,721,891
$2,975,269
$851,391
$294,021
$4,120,681
$1,601,210
($260)
($794)
12507
PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION
GROUP
$46,649,141
$0
$9,556,508
$56,205,649
$16,745,846
$3,917,244
$17,127,109
$37,790,199
$18,415,450
($3,592)
($3,375)
11514
PHYSICIANS PROFESSIONAL LIABILTY RRG
$39,070,680
$203,401
$2,610,073
$41,884,154
$14,241,954
$6,607,197
$2,323,370
$23,172,521
$18,711,633
($3,237)
($5,835)
10934
PHYSICIANS REIMBURSEMENT RRG
$26,610,437
$0
$426,516
$27,036,953
$15,741,330
$0
$509,901
$16,251,231
$10,785,722
($2,074)
($3,702)
11513
PHYSICIANS SPECIALTY LTD RRG
$10,067,581
$0
$1,686,265
$11,753,846
$5,410,194
$0
$2,616,556
$8,026,750
$3,727,096
($1,019)
($1,140)
14108
PIA PROFESSIONAL LIABILITY INSURANCE COMPANY, A RISK
RETENTION GROUP
$1,117,398
$0
$653,528
$1,770,926
$81,102
$118,700
$78,191
$277,993
$1,492,933
$0
$0
13582
PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION
GROUP
$8,451,226
$0
$28,865
$8,480,091
$2,982,313
$0
$171,746
$3,154,059
$5,326,032
$83
($1,564)
$14,923,593
$0
$285,373
$15,208,966
$4,205,497
$0
$1,971,809
$6,177,306
$9,031,660
($2,201)
($3,807)
$439,605
$0
$3,941,704
$4,381,309
$1,363,290
$673,680
$1,397,983
$3,434,953
$946,356
$48
$220
12348
PINE TREE INS RECIPROCAL RRG
12198
PINELANDS INS CO RRG INC
11980
PINNACLE CONSORTIUM OF HIGHER ED RRG
$6,581,396
$0
$153,879
$6,735,275
$2,023,343
$481,490
$157,060
$2,661,893
$4,073,382
($266)
($276)
11858
PINNACLE RRG INC
$2,489,273
$0
$0
$2,489,273
$53,812
$0
$46,137
$99,949
$2,389,324
($40)
($149)
14205
PLICO RISK RETENTION GROUP, INC.
$1,591,689
$0
$0
$1,591,689
$0
$0
$27
$27
$1,591,662
$0
$0
11809
PONCE DE LEON LTC RRG, INC.
$13,249,394
$316,007
$786,928
$14,352,329
$4,800,942
$1,294,566
$425,723
$6,521,231
$7,831,098
($310)
($319)
12497
PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC
$28,555,600
$18,737,646
$7,295,037
$54,588,283
$18,045,439
$10,428,145
$15,702,066
$44,175,650
$10,412,633
$2,023
$1,449
44083
PREFERRED PHYSICIANS MEDICAL RRG
$186,536,017
$0
$6,374,337
$192,910,354
$64,405,288
$6,613,531
$19,042,830
$90,061,649
$102,848,705
($10,306)
($14,214)
12613
PREMIER PHYSICIANS INSURANCE COMPANY, A RISK RETENTION
GROUP
$10,976,296
$368,665
$3,041,383
$14,386,344
$3,435,052
$3,936,942
$3,234,994
$10,606,988
$3,779,356
($1,387)
($383)
13179
PROAIR RISK RETENTION GROUP, INC.
$57,936
$0
$577,919
$635,855
$37,165
$16,888
$80,338
$134,391
$501,464
($37)
($67)
11671
PROBUILDERS SPECIALTY INS CO RRG
$14,077,585
$0
$36,053,824
$50,131,409
$33,478,327
$0
$2,387,479
$35,865,806
$14,265,603
$1,956
$1,940
14461
PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK
RETENTION GROUP)
$603,985
$0
$0
$603,985
$0
$0
$29,224
$29,224
$574,761
$0
$0
10840
PROFESSIONAL MEDICAL INS RRG INC
12608
PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A
RISK RETENTION GROUP
$325,129
$0
$12,720
$337,849
$0
$0
$12,560
$12,560
$325,289
$0
$0
$2,404,149
$946
$76,839
$2,481,934
$109,763
$18,455
$128,195
$256,413
$2,225,521
($20)
$31
13067
PROFESSIONALS RISK RETENTION GROUP, INC.
$1,785,848
$98,750
$1,264,115
$3,148,713
$531,808
$0
$1,441,534
$1,973,342
$1,175,372
($22)
($223)
11350
PUBLIC UTILITY MUTUAL INSURANCE COMPANY, RRG
$5,228,210
$81,617
$55,889
$5,365,716
$862,963
$0
$233,732
$1,096,695
$4,269,021
($355)
($442)
13078
RED CLAY RISK RETENTION GROUP, INC.
$3,698,458
$0
$1,673,608
$5,372,066
$2,105,215
$0
$489,440
$2,594,655
$2,777,411
($321)
($486)
13736
RED ROCK RISK RETENTION GROUP, INC.
$11,068,766
$0
$1,740,757
$12,809,523
$6,771,533
$0
$2,212,902
$8,984,435
$3,825,088
$945
$1,531
12019
REPUBLIC RRG
$1,333,182
$0
$501,513
$1,834,695
$0
$0
$7,531
$7,531
$1,827,164
$0
$0
12209
RESTORATION RISK RETENTION GROUP, INC.
$46,136,653
$0
$4,329,490
$50,466,143
$23,431,582
$3,681,578
$4,740,196
$31,853,356
$18,612,787
($2,668)
($5,836)
14135
RPX RRG
$3,907,279
$0
$359,900
$4,267,179
$62,993
$206,917
$131,911
$401,821
$3,865,358
$0
$0
11712
SAINT LUKE'S HLTH SYSTEM RRG
$22,950,250
$0
$518,032
$23,468,282
$6,293,697
$1,154,533
$1,524,899
$8,973,129
$14,495,153
($320)
($585)
12511
SAMARITAN RISK RETENTION GROUP, INC.
$19,619,375
$0
$3,878,717
$23,498,092
$3,348,100
$5,160,772
$807,661
$9,316,533
$14,181,560
($59)
($1,855)
11808
SCHUYKILL CROSSING RECIPROCAL RRG
$26,302,846
$0
$6,423,465
$32,726,311
$16,736,531
$4,895,863
$1,135,261
$22,767,655
$9,958,656
($3,701)
($5,330)
NAIC
COMPANY
Cash & Invested
Assets
Reinsurance
Recoverables
Other Assets
Total Assets
Loss & LAE
Reserves
Unearned
Premium Reserve
Other Liabilities
Total Liabilities
Policyholders'
Surplus
1 Year
Development
(000s)
2 Year
Development
(000s)
12988
SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION
GROUP
$7,916,259
$0
$2,833,999
$10,750,258
$5,506,370
$1,612,446
($250,302)
$6,868,514
$3,881,744
$33
$489
11267
SECURITY AMERICA RRG INC
$3,530,146
$0
$639,546
$4,169,692
$961,314
$697,196
($110,250)
$1,548,260
$2,621,432
($41)
$320
14136
SELECT MD RRG
$1,478,482
$0
$181,543
$1,660,025
$283,219
$0
$421,683
$704,902
$955,123
$0
$0
12005
SENTINEL ASSUR RRG INC
$15,636,379
$0
$354,891
$15,991,270
$3,851,953
$1,272,953
$350,691
$5,475,597
$10,515,673
($1,162)
($1,735)
13557
SIGMA RRG, INC.
$10,413,557
$0
$2,748,034
$13,161,591
$5,219,673
$2,187,963
$292,931
$7,700,567
$5,461,023
($614)
($1,352)
12907
SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.
$60,064,781
$0
$2,256,133
$62,320,914
$39,153,426
$1,917,000
$8,497,203
$49,567,629
$12,753,286
($1,143)
$1,769
14207
SPIRIT COMMERCIAL AUTO RISK RETENTION GROUP
$2,010,274
$0
$5,044,153
$7,054,427
$753,589
$3,428,825
$1,226,094
$5,408,508
$1,645,919
$0
$0
10754
SPIRIT MOUNTAIN INS CO RRG INC
$5,414,061
$0
$283,123
$5,697,184
$1,905,750
$508,212
$398,347
$2,812,309
$2,884,875
($930)
($1,386)
11114
ST CHARLES INS CO RRG
$10,956,241
$0
$294,186
$11,250,427
$3,792,153
$14,381
$534,030
$4,340,564
$6,909,863
($4,792)
($6,216)
11688
ST LUKES HEALTH NETWORK INS CO RRG
$39,477,133
$0
$10,411,076
$49,888,209
$28,499,895
$8,607,093
$352,365
$37,459,353
$12,428,856
($789)
$1,907
13993
STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.
$250,189
$0
$465,245
$715,434
$0
$13,589
$52,876
$66,465
$648,969
$0
$0
44075
STATES SELF-INSURERS RRG
$21,556,025
$0
$451,011
$22,007,036
$10,772,143
$752,005
$1,503,273
$13,027,421
$8,979,616
$400
$646
10476
STICO MUT INS CO RRG
$18,999,667
$321,723
$1,918,915
$21,240,305
$4,450,219
$5,328,874
$533,845
$10,312,938
$10,927,368
($1,265)
($1,858)
13135
SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP,
LLC
$647,498
$0
$11,174
$658,672
$0
$0
$294,720
$294,720
$363,952
$0
$0
14026
SUNLAND RISK RETENTION GROUP, INC.
$770,826
$0
$1,427,238
$2,198,064
$270,523
$0
$838,317
$1,108,840
$1,089,223
($67)
$0
11669
SUPERIOR INS CO RRG
$12,379,754
$0
$11,728,388
$24,108,142
$12,721,594
$2,499,759
$4,592,909
$19,814,262
$4,293,880
($165)
$273
($433)
10113
TERRA INS CO RRG
$26,068,832
$0
$2,780,584
$28,849,416
$1,953,550
$0
$10,825,178
$12,778,728
$16,070,688
($245)
14395
TERRAFIRMA RISK RETENTION GROUP LLC
$4,213,681
$0
$98,245
$4,311,926
$0
$0
$26,031
$26,031
$4,285,895
$0
$0
10152
THE HEALTHCARE UNDERWRITING CO RRG
$18,824,013
$0
$59,973,650
$78,797,663
$40,433,715
$11,175,895
$782,055
$52,391,665
$26,405,998
$1,381
$3,657
11153
TITAN INS CO INC RRG
$34,309,250
$0
$1,469,835
$35,779,085
$0
$6,492,784
$1,759,709
$8,252,493
$27,526,592
$0
$0
10084
TITLE INDUSTRY ASSURANCE CO RRG
$4,680,663
$0
$1,896,821
$6,577,484
$2,411,875
$322,484
$848,220
$3,582,579
$2,994,905
($177)
($330)
11548
UNITED CENTRAL PA RRG
$21,748,660
$0
$226,234
$21,974,894
$7,997,064
$0
$8,148,043
$16,145,107
$5,829,787
$2,445
($157)
12280
UNITED CONTRACTORS INS CO INC RRG
$14,713,179
$97,150
$6,258,538
$21,068,867
$15,460,637
$3,339,942
$73,088
$18,873,667
$2,195,200
$9,795
$14,029
10020
UNITED EDUCATORS INS RRG INC
$690,833,194
$0
$37,049,997
$727,883,191
$361,365,153
$61,125,711
$52,110,709
$474,601,573
$253,281,619
($3,004)
($25,377)
10712
UNITED HOME INSURANCE CO A RRG
$2,158,026
$0
$1,003,703
$3,161,729
$0
$1,558,116
$111,832
$1,669,948
$1,491,781
$0
$0
12915
URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP
$2,437,727
$0
$261,207
$2,698,934
$659,904
$723,677
($143,196)
$1,240,385
$1,458,549
$48
($10)
$229,609
$0
$582,400
$812,009
$265,931
$37,980
$7,697
$311,608
$500,401
$35
$0
$2,647,377
$0
$7,392
$2,654,769
$0
$167,873
$69,181
$237,054
$2,417,715
$0
($250)
13988
UV INSURANCE RISK RETENTION GROUP, INC.
11063
VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION
GROUP
13974
VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.
$1,648,906
$0
$212,728
$1,861,634
$502,370
$0
$709,941
$1,212,311
$649,323
($35)
$0
13786
VIRGINIA SENIOR CARE RISK RETENTION GROUP
$3,415,328
$0
$104,104
$3,519,432
$919,118
$538,655
$67,908
$1,525,681
$1,993,751
($4)
($2)
11802
WARREN RRG INC
$7,642,691
$0
$68,621
$7,711,312
$3,911,362
$185,674
$362,053
$4,459,089
$3,252,223
$816
($1)
11682
WELLSPAN RRG
$15,891,800
$0
$6,120,382
$22,012,182
$14,048,710
$0
$54,781
$14,103,491
$7,908,691
($2,550)
($4,493)
$2,908,614
$0
$1,612,710
$4,521,324
$1,306,496
$1,126,078
$645,851
$3,078,425
$1,442,898
$356
$0
$528,570
$0
$6,773
$535,343
$0
$0
$22,778
$22,778
$512,565
$0
$0
$132,433,262
$0
$2,296,168
$134,729,430
$16,366,337
$19,862,613
$3,355,435
$39,584,385
$95,145,045
($8,913)
($11,356)
14122
WESTERN CATHOLIC INSURANCE COMPANY RRG
11978
WESTERN INS RRG INC
40940
WESTERN PACIFIC MUT INS CO RRG
13154
WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP
$2,743,332
$0
$78,090
$2,821,422
$135,268
$129,817
$119,259
$384,344
$2,437,078
$0
$7
11796
YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION
GROUP)
$17,300,406
$0
$260,190
$17,560,596
$6,250,495
$0
$5,752,333
$12,002,828
$5,557,768
($1,182)
($2,279)
Risk Retention Groups - Selected Statutory Income Statement Data
NAIC
COMPANY
Direct Premium
Written
Net Premium
Written
Net Premium
Earned
$2,347,309
$277,261
$770,937
Loss & Loss
Adjusted
Expenses Incurred
($35,660)
Other
Underwriting
Expenses
$829,735
Net Operating
Gains/Losses
Net Investment
Gains/Losses
Net Income/Loss
($23,138)
$0
($24,270)
12934
ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION
GROUP
12166
$364,476
$364,476
$364,476
$0
$88,216
$276,260
$73,940
$353,286
12252
$1,602,095
$889,717
$889,717
$509,804
$424,653
($44,740)
$155,098
$85,093
13677
$1,671,594
$382,145
$382,145
$300,000
($991)
$83,136
$5,728
$88,864
13606
AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP
$450,000
$450,000
$450,000
$1,961,098
$149,680
($1,660,778)
$40,732
($1,625,612)
28380
$728,351
$728,351
$728,351
$138,340
$285,777
$304,234
$318,834
$427,568
11965
$6,992,621
$2,059,444
$2,059,444
$2,527,645
$791,267
($1,259,468)
$20,735
($1,238,733)
10023
$22,634,295
$15,484,067
$14,464,996
$9,712,180
$4,968,455
($215,639)
$1,526,224
$1,420,428
11710
$20,218,977
$15,365,685
$12,702,856
$4,396,526
$6,318,092
$1,988,238
$381,496
$1,421,941
($226,242)
12013
$1,015,000
$1,015,000
$1,016,397
$1,136,631
$242,693
($362,928)
$136,687
10232
$8,174,285
$6,774,772
$6,877,571
$3,505,458
$1,979,632
$1,392,481
$770,597
$708,880
12631
($17,124)
($4,077)
$11,304
$4,925
$109,859
($103,480)
$482
($81,037)
12300
$32,264,336
$0
$0
$0
($594,815)
$594,815
$46,538
$424,962
10903
$25,575,913
$23,353,691
$24,945,957
$1,017,317
$5,193,782
$18,734,858
$20,384,548
$39,119,676
44202
$0
$0
$0
($579,162)
$258,653
$320,509
$20,668
$247,405
11590
$2,313,501
$1,681,022
$1,537,176
$300,110
$654,391
$582,675
$342,347
$639,565
25448
$9,981,592
($40,423,490)
($43,940,569)
($46,407,439)
$749,906
$1,716,964
$225,564
$1,293,721
11534
AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG
$6,685,548
$2,152,976
$2,081,641
$1,463,910
$756,835
($139,104)
$627,935
$400,996
12171
AMERIGUARD RRG INC
$1,243,206
$1,421,754
$1,423,111
$407,493
$242,116
$773,502
$35,365
$525,763
11598
$40,753,156
$32,935,841
$30,574,885
$19,402,699
$9,707,353
$1,464,833
$3,587,074
$3,731,658
44148
$6,477,607
$661,936
$1,214,529
$971,624
$239,904
$3,001
$245,177
$238,856
13177
$5,125,044
$5,125,044
$5,125,044
$6,212,485
$2,077,213
($3,164,654)
$265,427
($1,881,064)
13580
ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP
$744,290
$670,370
$692,791
$25,000
$502,285
$169,741
$11,250
$179,691
12224
$0
$0
$0
($68,926)
$191,204
($122,278)
$26,874
($95,404)
14425
ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION
GROUP, INC.
$0
$0
$0
$0
$7,016
($7,016)
$637
($4,210)
($556,911)
33677
$3,449,911
$1,823,551
$1,791,362
$778,528
$1,634,548
($621,714)
$64,803
22670
$5,043,060
$3,543,060
$3,408,559
$2,334,645
$1,412,363
($338,449)
$553,050
$333,655
10639
$320,776,681
$23,238,453
$23,300,328
$20,019,842
$3,470,238
($189,752)
$5,249,284
$5,316,451
32450
$40,497,695
$27,861,021
$26,951,130
$15,479,505
$10,823,816
$696,809
$4,043,300
$4,582,161
13795
$157,268
$7,863
$4,625
$3,816
$52,489
($51,680)
$0
($33,592)
13791
$2,306,737
$537,445
$499,300
$230,406
$429,517
($160,623)
$4,084
($101,933)
10174
$39,805,145
$2,022,746
$2,159,684
$850,891
$1,485,850
($177,057)
$1,216,412
$988,008
12933
$15,294,203
$5,120,835
$5,120,835
$4,757,004
$390,868
($27,037)
$66,366
$23,704
14169
$16,940
$13,952
$7,368
$0
$9,386
($2,018)
$2,831
$1,163
13010
BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP
$840,443
$714,161
$629,449
$20,057
$491,420
$117,972
$20,172
$100,180
13788
$22,265,035
$19,553,100
$18,679,808
$14,021,368
$1,260,099
$3,398,341
$140,214
$3,742,941
44504
$29,947,017
$17,312,848
$17,642,268
$15,411,815
$1,862,307
$368,146
$2,881,027
$2,920,765
$1,250,252
12180
$2,497,933
$2,723,688
$2,826,263
$204,573
$722,020
$1,899,670
$0
11825
CARE RRG, INC.
$6,185,538
$5,083,561
$2,954,812
$2,070,153
$894,054
($9,395)
$134,700
$86,514
11544
$6,454,637
$5,917,722
$5,990,849
($774,306)
$929,618
$5,835,537
$1,592,853
$5,169,196
12373
$18,882,229
$6,488,714
$6,488,714
$3,988,920
$1,153,606
$1,346,188
$6,706,570
$3,035,713
10808
$23,941,294
$100,000
$100,000
$199,139
($22,052)
($77,087)
$29,710
($58,623)
13784
$566,988
$335,812
$335,812
($28,915)
$153,166
$211,561
$1,695
$209,188
NAIC
COMPANY
Direct Premium
Written
Net Premium
Written
Net Premium
Earned
11694
$13,275,787
$13,275,787
$13,631,991
Loss & Loss
Adjusted
Expenses Incurred
$11,126,662
11976
$3,750,960
$3,636,455
$3,781,885
($710,497)
Other
Underwriting
Expenses
$3,599,517
Net Operating
Gains/Losses
Net Investment
Gains/Losses
Net Income/Loss
($1,094,187)
$2,182,234
$1,094,004
$846,123
$3,646,259
$543,387
$2,924,088
12167
$1,087,933
$897,572
$897,572
$36,413
$391,152
$470,006
$123,442
$573,414
11531
CHC CAS RRG
$9,683,946
$9,683,946
$9,683,946
$118,429
$637,987
$8,927,530
$894,416
$6,600,439
14388
$3,964,067
$2,805,827
$936,755
$711,097
$214,980
$10,678
$580
($133,185)
11839
$7,877,152
$393,858
$393,858
$328,151
($574,737)
$640,444
($2,544)
$421,014
12172
$2,569,162
$553,407
$490,371
$88,585
$256,399
$145,387
$9,976
$163,885
11992
$19,696,694
$0
$0
$531,825
$2,965,477
($3,497,302)
$1,739
$185,898
43770
$0
$51,723
$56,593
$177,243
$116,113
($236,763)
$173,296
($31,570)
13756
$787,672
$56,930
$174,469
$23,971
$239,557
($89,059)
($4,790)
($93,849)
11668
COASTAL INS RRG INC
$8,843,713
$7,349,650
$7,361,496
($601,299)
$3,097,252
$4,865,543
$1,407,706
$932,742
44598
$2,260,275
$2,260,275
$2,302,437
$1,596,696
$468,664
$237,077
$582,948
$884,041
$6,436,179
$4,846,148
$4,755,964
$2,686,073
$1,169,191
$900,700
$242,253
$1,142,953
$146,100
$146,100
$279,933
$0
$187,292
$92,641
$3,034
$62,189
13613
10803
11864
$1,427,982
$1,427,982
$1,453,584
$1,044,429
$471,502
($62,347)
$38,562
($22,408)
11807
$1,330,631
$1,330,631
$1,330,631
($148,566)
$458,126
$1,021,071
$421,823
$1,459,098
13893
$4,497,495
$2,653,494
$2,897,535
($931,368)
$871,354
$2,957,549
$464,545
$3,409,094
11536
$13,103,707
$11,518,007
$11,518,007
$6,016,910
$2,390,794
$3,110,303
$5,235,901
$8,417,382
11259
$37,988,961
$36,357,019
$36,357,019
$24,774,622
$6,106,584
$5,475,813
$7,081,709
$12,612,700
10075
11798
11603
10341
12042
COOPERATIVE OF AMERICAN PHYSICIANS INSURANCE COMPANY, INC., A RRG
14160
COVERYS RRG, INC.
10164
$943,701
$404,578
$496,103
$144,280
$533,679
($181,856)
$196,263
$14,953
$3,209,238
$2,732,003
$2,732,003
$1,514,304
$1,785,234
($567,535)
($1,496)
($450,892)
$3,796,073
$1,746,194
$2,078,953
$832,800
$834,947
$411,206
$63,811
$248,086
$115,491,955
$16,168,874
$16,168,874
$4,147,705
$9,291,132
$2,730,037
$2,805,157
$3,649,862
$2,804,140
$6,401,193
$6,401,193
$4,044,691
$1,444,275
$912,227
$860,284
$1,428,062
$65,884
$3,144
$935
$1,281
$112,272
($112,618)
$0
($112,618)
$7,972,263
$4,219,622
$4,050,444
$5,575,789
$769,409
($2,294,754)
$1,028,055
($647,765)
13720
$1,564,850
$1,095,395
$835,009
$229,121
$461,619
$144,269
$2,578
$146,847
11676
CRUDEN BAY RRG INC
$3,100,000
$3,100,000
$3,100,000
($295,440)
$251,239
$3,144,201
$512,179
$3,656,380
$7,577,523
$4,217,367
$3,862,350
$1,244,480
$600,821
$2,017,049
$17,593
$2,083,049
$928,280
$928,280
$1,035,960
$1,234,816
$635,832
($834,689)
$462,114
($254,823)
13655
43125
13018
$6,537,525
$4,895,503
$3,838,678
$2,038,013
$1,547,042
$253,623
$169,727
$279,469
11842
DUBOIS MEDICAL RRG
$1,092,263
$1,092,263
$1,087,798
($486,548)
$168,894
$1,405,452
$229,320
$1,634,772
$1,642,320
10115
$10,496,357
$8,992,150
$8,791,566
$3,276,763
$4,363,054
$537,001
$1,273,930
10125
$5,985,564
$3,756,924
$3,101,143
$3,071,494
$839,686
($810,037)
$504,649
$37,422
14163
$3,023,351
$1,004,310
$1,004,310
$768,950
$189,616
$45,744
$13,784
($10,886)
12003
EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)
$4,431,019
$3,691,699
$4,047,396
$2,283,360
$1,937,987
($173,951)
$346,579
($300,965)
12015
$2,194,703
$1,751,203
$2,162,148
$1,169,147
$826,081
$166,920
$401,269
$452,767
11714
$11,331,853
$10,130,888
$12,576,878
$8,537,596
$4,073,244
($33,962)
$1,097,335
$994,498
38466
$5,433,986
$3,642,840
$3,595,319
$1,982,882
$1,890,861
($278,424)
$485,316
$215,009
11840
$11,731,969
$10,324,647
$10,100,278
$5,394,935
$3,507,011
$1,198,332
$748,518
$1,179,664
11698
$1,153,107
$1,153,107
$1,044,768
$828,854
$299,867
($83,953)
$315,714
$127,549
14439
$0
$0
$0
$0
$10,048
($10,048)
($81)
($8,610)
11801
$7,716,893
$7,716,893
$9,130,077
$5,906,799
$3,113,827
$109,451
$70,427
$156,859
11278
$11,153,000
$11,153,000
$11,693,476
$5,102,079
$549,151
$6,042,246
$8,424,810
$14,467,056
12625
$1,271,358
$1,271,358
$1,320,797
$208,670
$480,970
$631,157
$6,603
$420,054
NAIC
COMPANY
10842
$45,223,043
$3,454,316
$3,391,810
Loss & Loss
Adjusted
Expenses Incurred
$1,590,178
$531,680
$6,988
$538,668
12016
$2,100,222
$2,100,222
$2,100,222
$511,990
$322,605
$1,265,627
$1,309,774
($424,599)
14032
$1,803,596
$1,803,596
$1,551,876
$1,319,095
$290,848
($58,067)
$1,433
($56,634)
12000
$13,051,277
$1,068,423
$1,029,347
$500,000
$467,113
$62,234
$1,228
$63,462
10163
$0
$0
$0
$78,152
$81,054
($159,206)
$16,968
($134,510)
($10,020)
13782
11948
10991
11145
12512
13973
GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP,
INC.
Direct Premium
Written
Net Premium
Written
Net Premium
Earned
Other
Underwriting
Expenses
$1,269,952
Net Operating
Gains/Losses
Net Investment
Gains/Losses
Net Income/Loss
$40,000
$40,000
$23,452
$2,703
$38,341
($17,592)
$2,410
$8,790,102
$8,177,475
$6,196,112
$3,980,844
$1,943,354
$271,914
$22,199
$294,113
$609,890
$609,890
$609,890
$0
$244,279
$365,611
$573,030
$646,071
GOLDEN INS CO RRG
$2,128,061
$1,760,470
$1,449,820
$735,931
$656,109
$57,780
$187,079
$213,915
$1,129,506
$1,129,506
$1,129,506
$1,503,969
$127,712
($502,175)
$28,667
($430,203)
$495,183
$360,296
$249,577
$6,916
$298,506
($55,845)
$193
($36,730)
11581
GRACO RRG INC
$1,620,056
$145,056
$145,056
$0
$133,746
$11,310
$2,307
($6,106)
11941
$4,487,000
$4,487,000
$4,458,919
$244,964
$728,240
$3,485,715
$7,176
$2,309,151
11696
GUARDIAN RRG INC
$1,060,322
$1,060,322
$1,060,322
$1,615,113
$206,384
($761,175)
$143,689
($622,861)
12014
GUTHRIE RRG
$7,782,003
$7,782,003
$8,585,476
$5,804,168
$323,576
$2,457,733
$2,878,541
$5,336,274
13057
12236
$0
$0
$0
$0
($32,259)
$32,259
($1,998)
$30,261
$7,897,641
$2,563,581
$2,399,627
$1,518,442
$887,900
($6,715)
$197,513
$147,887
11813
$1,659,201
$1,496,234
$1,519,439
$605,731
$414,882
$498,826
$69,051
$163,037
10080
$13,982,985
$12,091,974
$12,802,508
$5,868,176
$3,841,225
$3,093,107
$291,692
$3,384,799
11832
HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG
(HEALTHCAP RRG)
$42,354,459
$3,745,323
$3,660,273
$4,030,621
($480,844)
$110,495
$336,282
$374,600
11683
$8,285,815
$7,570,694
$7,486,446
$2,336,971
$1,847,641
$3,301,834
$1,827,072
$5,190,385
11998
$4,119,233
$4,119,233
$4,119,233
$2,391,500
$782,343
$945,390
$267,335
$1,224,750
11097
($441)
($441)
$295,672
$86,414
$274,240
($64,982)
$1,255
($4,418)
11950
$112,214
$493,207
$471,448
$302,218
$283,083
($113,853)
$106,410
$23,187
26797
$29,976,511
$28,500,568
$28,898,184
$8,036,246
$7,881,690
$12,980,248
$16,207,241
$17,903,365
41246
$0
$0
$0
$674,173
$0
($943,271)
$1,431,394
$466,499
11268
$84,673,384
$28,345,585
$29,752,434
$13,464,439
$10,571,247
$5,716,748
$11,806,898
$9,404,446
12018
$35,788,201
$35,204,858
$26,875,912
$6,817,812
$16,465,546
$3,592,554
$647,856
$2,910,992
11692
$5,172,244
$5,172,244
$5,172,244
$2,152,045
$1,077,967
$1,942,232
$869,425
$2,805,777
12320
$1,205,476
$1,205,476
$1,203,776
$800,465
$530,606
($127,295)
$54,576
($72,719)
14375
$1,479,012
$73,950
$12,591
$7,641
$142,662
($137,712)
$47
($137,665)
12594
$9,923,434
$8,862,552
$7,314,546
$5,245,332
$2,555,649
($486,435)
$156,500
($210,208)
11872
$6,571,492
$3,238,292
$3,947,085
$247,806
$849,909
$2,849,370
$2,061,399
$4,910,769
11939
$4,942,956
$3,148,231
$3,115,264
$3,144,015
$786,027
($814,778)
$359,228
($277,697)
11803
LAKE STREET RRG INC
$1,011,462
$1,011,462
$1,011,462
$703,549
$147,080
$155,543
$0
$155,824
14444
LAMMICO RRG, INC.
$48,321
$1,806
$7
$988
$2,012
($2,993)
($482)
($3,475)
13014
$11,327,079
$9,144,549
$8,980,044
$6,697,489
$3,196,715
($914,160)
$78,207
($451,113)
11500
$665,529
$0
$0
$0
$37,692
($49,505)
$63,578
$21,992
12627
$2,741,620
$2,467,975
$3,175,975
$1,311,111
$286,523
$1,578,340
$2,117
$1,234,740
11958
$1,409,985
$1,185,574
$1,185,574
$528,497
$517,622
$139,455
$183,846
$318,262
14084
$2,797
$28
$18
$0
$83,962
($83,944)
$322
($47,971)
11684
LVHN RRG
12554
MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP
$0
$0
$0
$5,382,039
$769,912
($1,855,274)
$1,855,274
$0
$1,291,567
$917,646
$943,935
$655,711
$259,300
$28,924
$10,378
$28,596
NAIC
COMPANY
Direct Premium
Written
Net Premium
Written
Net Premium
Earned
11117
$13,760,846
$0
$330,117
Loss & Loss
Adjusted
Expenses Incurred
$186,382
10697
$175,014,980
$41,132,030
$41,132,030
$18,046,448
Other
Underwriting
Expenses
$100,308
Net Operating
Gains/Losses
Net Investment
Gains/Losses
Net Income/Loss
$43,427
($26,909)
$150,034
$24,212,129
($1,126,547)
$657,651
($115,647)
12355
$4,729,080
$4,029,586
$4,029,586
$484,148
$458,441
$3,086,997
$373,328
$2,283,814
26257
$22,028,383
$14,300,348
$14,402,804
$11,635,543
$1,743,203
$1,024,058
$2,273,257
$2,144,100
13589
$21,151,349
$1,057,569
$709,125
$657,003
($38,360)
$90,482
($7,230)
$53,966
10124
$1,052,783
$621,499
$630,589
($206,601)
$237,127
$600,063
$4,461
$402,885
44237
$9,587,626
$4,326,117
$4,273,325
$1,911,791
$517,454
$1,844,080
$554,544
$1,161,878
11999
$2,154,546
$1,780,689
$1,919,522
$1,255,838
$747,795
($84,110)
$340,408
$166,607
14219
$743,016
($360,235)
$280,391
$98,017
$173,497
$8,877
$0
$8,877
14062
MMIC RRG, INC.
$15,940
$797
$486
$0
$63,143
($62,658)
$0
($41,354)
13812
$500,000
$500,000
$500,000
$303,000
$198,332
($1,332)
$0
$68,084
11547
$56,792,925
$5,428,355
$5,239,133
$3,502,189
$2,580,854
($843,910)
$241,052
($602,858)
11585
$31,299,253
$24,635,371
$23,865,371
$15,506,570
$2,791,883
$5,566,918
$4,854,129
$4,503,168
12779
$6,744,555
$6,431,055
$6,431,054
$2,247,929
$832,328
$3,350,797
$531,984
$3,882,781
($85,384)
14366
11806
$709,245
$42,555
$3,792
$65,264
$184,060
($245,532)
$0
$1,462,380
$1,462,380
$1,440,418
$633,160
$688,789
$118,470
$226,661
12235
$290,126
$656,326
$356,326
$341,878
$548,739
$318,404
($525,265)
$4,404
($343,768)
10083
12293
$23,842,004
$10,760,963
$10,287,546
$8,295,686
$2,794,008
($802,148)
$1,689,474
$913,863
$3,437,563
$1,051,961
$1,066,948
$1,422,732
$951,065
($1,306,849)
$144,177
($318,101)
36072
$13,149,903
$2,507,297
$2,585,394
$1,831,016
$193,975
$560,403
$155,744
$516,147
44016
($8,515)
($1,000,145)
$5,436,843
$3,783,319
$854,217
$799,307
$1,788,417
$2,411,536
11197
$4,167,818
$1,894,313
$1,696,954
$1,157,134
$594,093
($54,273)
$112,207
$38,230
12529
NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.
$3,934,461
$0
$0
$0
$824,472
($824,472)
$215,077
$401,734
10234
$953,394
$843,350
$696,228
$90,723
$760,746
($155,241)
$183,202
$27,961
14130
$0
$0
$0
$0
$130,888
($130,888)
($2,050)
($132,938)
12539
$789,020
($326,159)
($289,998)
($115,310)
$278,314
($453,002)
($30,331)
($425,738)
13792
NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP
$8,786,075
$2,154,958
$772,439
$314,559
$804,821
($346,940)
($37,458)
($409,986)
12532
$1,996,334
$3,253,539
$2,808,130
$1,842,644
$788,454
$177,032
$4,587
$69,382
12275
$9,607,630
$8,362,208
$6,958,876
$5,061,051
$1,708,047
$189,778
$195,870
$320,855
13059
NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP
$4,171,470
$2,864,148
$2,744,506
$2,137,640
$605,162
$1,704
$71,680
$105,707
10752
NOVUS INS CO RRG
$5,353,835
$389,100
$1,354,903
$4,217,796
$748,070
($3,610,963)
$30,051
($766,846)
13644
$547,914
$1,650,603
$1,619,088
$843,442
$752,778
$22,868
$390
$23,258
12845
OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.
$779,163
$922,536
$1,267,390
$329,730
$600,657
$337,003
$90,560
($89,580)
10158
OCEAN RRG INC
$2,602,459
$2,602,459
$3,565,218
$4,115,923
($248,463)
($302,242)
$23,914
($232,726)
12189
$35,133,236
$36,455,010
$33,938,846
$19,446,475
$10,284,962
$4,207,409
$1,354,214
$3,835,973
13062
$0
$4,969
$4,969
($202,125)
$308,196
($101,102)
$1,571
($228,355)
44121
OMS NATL INS CO RRG
$64,502,520
$77,255,702
$75,448,543
$41,596,476
$21,819,480
$12,032,587
$8,728,691
$15,625,660
10353
$29,234,186
$10,231,965
$8,808,548
$6,337,798
$3,454,081
($983,331)
$215,286
$433,935
44105
$42,790,167
$38,757,726
$37,376,077
$19,549,111
$9,667,083
$8,159,883
$7,686,239
$7,548,044
12183
$1,128,125
$1,128,125
$1,128,125
($385,809)
$129,707
$1,384,227
$154,446
$1,538,673
10171
$0
$0
$0
($1,628,740)
$402,232
$1,226,508
$1,801,121
$3,027,629
14260
ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION GROUP)
$5,033,195
$3,644,450
$1,522,073
$1,014,804
$685,624
($178,355)
$17,141
($106,402)
11575
PACE RRG INC
$11,239,635
$358,914
$343,978
$2,331,706
($331,425)
($1,656,303)
$20,856
$350,862
44130
$4,664,638
$2,960,634
$2,932,772
($509,335)
$876,895
$2,565,212
$770,068
$1,092,881
11973
$3,167,454
$2,504,596
$2,606,639
$332,350
$1,140,702
$1,133,587
$80,012
$608,985
NAIC
COMPANY
11846
11772
11587
PELICAN INS RRG
12004
13995
Direct Premium
Written
Net Premium
Written
Net Premium
Earned
Other
Underwriting
Expenses
$908,993
Net Operating
Gains/Losses
Net Investment
Gains/Losses
Net Income/Loss
$2,940,683
Loss & Loss
Adjusted
Expenses Incurred
$111,598
$3,281,460
$2,940,683
$0
$5,500
$1,920,092
$503,435
$1,220,584
$5,500
$302,024
$116,561
($413,085)
$17,664
$2,810,554
$3,303,923
($453,805)
$3,347,282
$658,875
$1,185,972
$1,502,435
$338,135
$1,821,107
$413,934
$413,934
$413,934
$92,061
$1,832,207
$647,523
$424,693
$259,689
$145,959
$175,914
$94,666
$269,902
$297,744
($132,740)
$2,104
($13,402)
$698,224
12746
$2,848,522
$2,515,189
$2,478,350
$822,530
$1,313,229
$342,592
$313,387
12918
PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP
$1,379,833
$1,379,833
$1,127,877
$585,136
$414,396
$128,345
$49,219
$177,368
12507
PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP
$13,820,097
$10,892,955
$10,409,008
$1,864,369
$1,350,106
$7,194,533
$1,031,387
$5,489,899
11514
$5,817,241
$5,561,657
$5,864,893
$1,918,230
$1,823,467
$156,034
$828,249
$968,891
10934
$3,375,188
$3,375,188
$3,375,188
$2,288,856
$1,570,817
($484,485)
$602,579
$71,474
11513
$16,370,318
$1,583,920
$1,583,920
$2,591,966
$581,602
($1,589,648)
$346,128
($771,799)
14108
PIA PROFESSIONAL LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP
13582
PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP
$0
$224,177
$116,176
$80,568
$225,421
($189,813)
$4,578
($122,467)
$4,924,412
$4,035,425
$4,035,425
$2,145,625
$485,311
$1,404,489
$47,377
$1,451,583
12348
$2,887,071
$2,549,071
$2,549,071
($88,439)
$552,900
$2,084,610
$640,080
$2,811,636
12198
$4,077,683
$1,223,305
$1,022,840
$962,857
$220,697
($160,714)
($2,248)
($107,559)
11980
$5,187,569
$968,420
$974,002
$251,402
$514,395
$208,205
$18,294
$234,284
11858
PINNACLE RRG INC
$19,275
$19,275
$19,275
($25,751)
$48,104
($3,078)
$93
($1,443)
14205
$0
$0
$0
$0
$12,068
($12,068)
$3,745
($8,323)
11809
$2,754,390
$2,475,955
$3,502,164
$2,620,614
$1,736,946
($855,396)
$293,359
($471,460)
12497
$20,239,042
$15,543,175
$8,106,444
$5,499,565
$2,506,561
$100,319
$346,897
$160,305
44083
$37,619,797
$29,385,230
$28,703,573
$7,310,717
$5,705,300
$15,687,556
$6,158,560
$15,016,389
12613
PREMIER PHYSICIANS INSURANCE COMPANY, A RISK RETENTION GROUP
$7,321,165
$5,440,025
$5,072,561
$1,698,064
$2,461,020
$913,477
$103,954
$639,750
13179
$186,110
$97,460
$106,904
$12,634
$117,545
($23,275)
($353)
($20,092)
($388,855)
11671
$0
$0
$2,643
$1,534
$747,404
($786,595)
$285,182
14461
PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)
$0
$0
$0
$0
$28,772
($28,772)
$0
($28,772)
10840
$1,341,000
$0
$0
$0
$108,515
($108,515)
$656
($107,859)
12608
PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION
GROUP
$524,629
$26,231
$23,937
($3,775)
$1,132
$26,580
$0
$27,064
($103,690)
13067
$3,219,428
$384,194
$384,194
$462,211
$68,525
($146,542)
$2,426
11350
$1,427,118
$845,024
$845,024
$124,954
$450,433
$269,637
$62,733
$332,370
13078
$1,714,403
$1,234,737
$1,234,737
$491,363
$407,295
$317,388
($37,126)
$281,926
13736
$2,204,842
$1,069,484
$1,471,047
$2,463,279
$449,713
($1,441,945)
$30,838
($1,321,271)
12019
REPUBLIC RRG
$0
$0
$0
$0
$47,442
($47,442)
$54,194
$6,752
12209
$12,713,446
$11,240,411
$10,936,190
$5,641,638
$2,279,584
$3,014,968
$1,525,515
$2,877,912
($431,544)
14135
RPX RRG
$540,600
$270,300
$63,383
$99,306
$395,621
($431,544)
$0
11712
$4,940,309
$2,229,417
$3,331,149
$3,152,001
$1,122,856
($943,708)
$994,532
$378,340
12511
$8,041,677
$8,041,677
$7,056,328
$3,235,515
$828,227
$2,992,586
($1,023,319)
$1,408,501
11808
$6,780,177
$6,346,081
$6,514,517
$2,919,551
$1,007,041
$2,587,925
$1,402,429
$3,765,670
12988
SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP
$6,687,814
$5,454,167
$5,215,150
$3,109,291
$1,947,487
$158,372
$142,294
$204,906
11267
$2,035,387
$1,493,823
$1,477,828
$322,243
$998,584
$157,001
$5,205
$117,170
14136
SELECT MD RRG
$1,748,768
$304,021
$304,021
$299,600
$63,244
($58,823)
$754
($38,326)
12005
$4,607,866
$3,928,366
$3,830,217
$2,303,579
$1,178,086
$348,552
$521,097
$630,434
13557
SIGMA RRG, INC.
$2,344,406
$2,344,406
$2,348,556
$1,384,119
$254,989
$709,448
$91,677
$531,296
12907
$17,511,991
$17,511,991
$17,550,991
$12,577,610
$1,034,020
$3,939,361
$2,066,197
$4,438,506
14207
$5,907,140
$4,793,644
$1,364,819
$980,937
$578,989
($195,107)
($324)
($127,886)
NAIC
COMPANY
Direct Premium
Written
Net Premium
Written
Net Premium
Earned
Other
Underwriting
Expenses
$1,429,843
Net Operating
Gains/Losses
$2,201,043
Loss & Loss
Adjusted
Expenses Incurred
$150,273
$2,501,314
$2,158,462
$909,973
$909,973
$620,927
$49,846
$56,272
$907,779
($1,000,000)
$271,554
$1,636,225
$432,645
$1,468,212
$11,023,431
$68,370
$11,023,431
$9,416,951
$8,420,557
$1,136,447
($140,053)
$877,072
$779,073
$20,615
$15,875
$0
$120,812
($104,937)
$0
($69,259)
$210,369
Net Investment
Gains/Losses
Net Income/Loss
10754
11114
11688
13993
44075
$9,372,690
$1,580,906
$1,593,929
$1,925,134
($21,809)
($373,424)
$583,793
10476
$3,977,762
$3,572,502
$3,324,339
$1,148,918
$1,927,752
$247,669
$728,008
$428,736
13135
SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC
$1,903,720
$0
$0
$0
$249,065
($249,065)
$1,023
($25,896)
14026
$4,305,233
$430,524
$430,524
$188,061
$147,891
$94,572
($6,581)
$71,140
11669
SUPERIOR INS CO RRG
$7,148,295
$2,422,118
$2,480,051
$3,219,023
$1,572,304
($2,311,276)
$610,866
($1,678,257)
$8,831,802
$5,975,792
$5,975,792
$544,597
$3,726,419
$1,704,776
$484,247
$795,225
$0
$0
$0
$0
$118,099
($118,099)
($1,844)
($64,618)
10113
TERRA INS CO RRG
14395
10152
$27,218,707
$27,218,707
$19,423,008
$20,400,233
$1,411,718
($2,388,943)
$6,940
($1,867,714)
11153
$9,690,508
$3,792,219
$2,620,814
$0
$443,458
$2,177,356
$586,317
$2,844,913
10084
$6,966,739
$702,289
$710,679
$275,982
($260,032)
$694,729
$40,175
$734,904
11548
$3,825,455
$3,825,455
$3,825,455
$5,177,819
$317,161
($1,669,525)
$662,131
($949,660)
12280
10020
10712
12915
13988
11063
VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP
13974
13786
11802
WARREN RRG INC
11682
14122
11978
WESTERN INS RRG INC
$7,543,140
$6,731,654
$5,640,300
$13,875,446
$2,619,397
($10,854,543)
$1,355,741
($8,441,913)
$136,767,194
$110,556,934
$105,739,814
$88,383,430
$20,301,815
($2,945,430)
$21,397,184
$19,687,163
$0
$0
$938,596
$0
$119,523
$819,073
$26,771
$549,799
$1,146,418
$897,433
$941,732
$443,563
$383,455
$114,714
$2,194
$85,638
$448,050
$448,050
$410,070
$206,556
$255,235
($51,721)
$0
($51,721)
$75,267
$75,267
$209,560
$0
$74,636
$134,924
$169,071
$206,997
$1,836,012
$342,049
$342,049
$464,379
$216,599
($338,929)
$2,259
($221,820)
$1,161,247
$719,973
$688,478
$550,783
$102,944
$34,751
$4,234
$37,546
$972,956
$972,956
$993,757
$1,133,419
$403,014
($542,676)
$51,573
($497,056)
WELLSPAN RRG
$6,579,000
$6,579,000
$6,579,000
$4,458,667
$400,921
$1,719,412
$519,146
$2,238,558
$3,438,956
$2,252,158
$2,234,212
$1,309,964
$602,484
$321,764
$21,099
$332,889
$31,330
$31,330
$31,330
$10,000
$49,357
($28,027)
$12,125
($17,185)
$3,145,452
$2,648,028
$7,298,946
($2,554,612)
$3,668,139
$6,185,419
$4,417,456
$9,431,602
$307,180
$307,180
$281,173
$3,936
$251,912
$25,325
$6,867
$32,192
$6,005,169
$4,036,792
$4,036,792
$680,053
$2,223,314
$1,133,425
$269,921
$1,403,826
40940
13154
11796
YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)
Risk Retention Groups - Selected Financial Ratios
NAIC
12934
COMPANY
ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION
GROUP
Liquidity
Cash to
Losses and
LAE Reserves
Leverage
Loss & LAE
Reserves to
PHS
55.52
828.31
91.37
19.87
DPW to PHS NPW to PHS
143.84
16.99
Loss & LAE
Ratio
Expense
Ratio
Combined
Ratio
-4.63
299.26
294.64
1 Year Dev 2 Year Dev
to PHS
to PHS
-16.50
6.17
12166
1.04
0.00
0.96
0.00
23.08
23.08
0.00
24.20
24.20
0.00
0.00
12252
89.85
138.73
173.93
139.54
133.49
74.13
57.30
47.73
105.03
-13.60
-11.81
13677
50.26
616.25
65.56
21.17
54.97
12.57
78.50
-0.26
78.24
-0.07
0.00
13606
AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP
202.75
50.06
-303.60
-299.15
-47.90
-47.90
435.80
33.26
469.06
0.00
0.00
28380
16.20
723.86
19.11
16.30
6.12
6.12
18.99
39.24
58.23
-2.01
-4.48
11965
81.70
161.20
216.37
164.30
139.97
41.22
122.73
38.42
161.16
52.26
72.02
10023
62.64
228.14
104.72
73.29
81.17
55.53
67.14
32.09
99.23
0.99
-4.09
11710
64.36
363.62
142.49
60.89
155.49
118.17
34.61
41.12
75.73
0.27
-10.66
12013
61.98
190.58
161.36
136.60
41.79
41.79
111.83
23.91
135.74
26.60
21.72
10232
73.85
173.03
242.09
189.45
74.86
62.04
50.97
29.22
80.19
-61.44
-93.36
12631
37.79
1,052.24
55.38
13.93
-2.16
-0.51
43.57
-2,694.60
-2,651.04
0.00
-0.40
12300
153.17
0.00
159.78
0.00
444.83
0.00
0.00
0.00
0.00
0.00
0.00
10903
41.80
274.01
71.04
62.03
10.75
9.82
4.08
22.24
26.32
-7.75
-15.49
44202
29.01
378.77
39.73
36.15
0.00
0.00
0.00
0.00
0.00
-14.17
-35.34
11590
61.61
209.13
139.14
107.99
61.07
44.38
19.52
38.93
58.45
-31.56
-33.81
25448
85.91
330.18
110.53
38.97
101.52
-411.12
105.61
-1.86
103.76
-554.46
-838.59
11534
AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG
76.19
256.14
244.95
125.52
151.16
48.68
70.32
35.15
105.48
-14.23
-12.16
12171
AMERIGUARD RRG INC
39.65
496.21
62.59
31.81
16.55
18.93
28.63
17.03
45.66
-4.65
-35.76
11598
92.41
157.39
267.54
183.96
162.25
131.12
63.46
29.47
92.93
-20.38
-25.74
44148
98.50
348.19
126.74
36.95
67.65
6.91
80.00
36.24
116.24
-4.58
-4.43
13177
97.88
105.35
470.37
456.14
232.81
232.81
121.22
40.53
161.75
118.83
125.41
13580
ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP
44.98
946.12
33.55
7.88
39.11
35.23
3.61
74.93
78.54
-7.25
-5.19
12224
48.13
369.13
90.73
51.07
0.00
0.00
0.00
0.00
0.00
-7.78
2.06
14425
ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION
GROUP, INC.
0.85
0.00
0.86
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
33677
50.83
351.92
95.66
53.47
43.14
22.81
43.46
89.64
133.10
-8.42
-17.95
22670
52.19
292.91
95.96
62.77
66.89
46.99
68.49
39.86
108.36
7.78
12.42
10639
84.19
197.20
159.49
96.06
541.57
39.23
85.92
14.93
100.85
3.10
-1.64
32450
71.52
204.04
185.47
127.09
120.36
82.81
57.44
38.85
96.28
-8.58
-12.30
13795
13791
6.57
28,808.03
6.63
0.35
11.12
0.56
82.51
667.54
750.05
0.00
0.00
122.25
540.85
170.14
25.73
221.52
51.61
46.15
79.92
126.06
-13.75
-1.92
10174
42.34
424.94
63.76
35.44
287.11
14.59
39.40
73.46
112.86
-3.06
-11.75
12933
107.16
145.39
526.79
338.12
299.01
100.11
92.90
7.63
100.53
-14.83
-72.70
0.00
14169
3.40
0.00
3.49
0.00
3.31
2.73
0.00
67.27
67.27
0.00
13010
BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP
64.74
4,552.61
124.96
4.24
72.50
61.61
3.19
68.81
72.00
0.00
0.19
13788
92.79
128.71
211.52
177.12
74.24
65.19
75.06
6.44
81.51
-27.48
-46.07
44504
71.66
184.14
151.94
115.15
65.95
38.13
87.36
10.76
98.11
-11.26
-25.89
12180
57.51
231.27
105.26
79.14
37.05
40.40
7.24
26.51
33.75
-31.47
-52.24
11825
CARE RRG, INC.
78.45
204.88
191.37
119.07
132.22
108.67
70.06
17.59
87.65
-9.02
-25.59
11544
35.01
374.24
49.84
38.04
27.00
24.75
-12.92
15.71
2.78
-20.71
-33.36
12373
102.65
452.33
131.98
28.42
53.89
18.52
61.47
17.78
79.25
-1.64
-2.24
10808
85.17
1,294.94
143.92
13.05
656.00
2.74
199.14
-22.05
177.09
2.71
2.59
13784
9.19
4,291.91
9.08
2.30
48.78
28.89
-8.61
45.61
37.00
-7.26
-1.14
NAIC
COMPANY
Liquidity
Cash to
Losses and
LAE Reserves
Leverage
Loss & LAE
Reserves to
PHS
Loss & LAE
Ratio
Expense
Ratio
Combined
Ratio
to PHS
to PHS
11694
68.49
187.83
195.83
152.23
64.63
64.63
81.62
27.11
108.74
10.24
44.04
11976
55.97
278.49
87.51
56.14
44.64
43.28
-18.79
23.27
4.48
-40.44
-41.82
12167
10.10
1,645.79
10.17
6.12
31.72
26.17
4.06
43.58
47.64
-5.52
-2.14
11531
CHC CAS RRG
55.67
208.12
123.33
106.45
57.41
57.41
1.22
6.59
7.81
-65.85
-70.83
0.00
14388
172.42
266.58
215.83
46.96
262.19
185.58
75.91
7.66
83.57
0.00
11839
44.16
516.69
77.96
34.17
595.31
29.77
83.32
-145.92
-62.61
-3.26
0.00
12172
66.68
316.17
89.78
42.58
158.46
34.13
18.06
46.33
64.40
-9.83
-14.67
11992
121.84
0.00
107.07
0.00
775.95
0.00
0.00
0.00
0.00
0.00
0.00
43770
6.65
1,817.05
6.78
5.61
0.00
1.79
313.19
224.49
537.68
0.90
-3.30
13756
17.88
9,198.07
20.22
1.23
26.11
1.89
13.74
420.79
434.53
0.00
0.00
11668
COASTAL INS RRG INC
67.71
303.09
180.28
87.85
49.09
40.80
-8.17
42.14
33.97
-23.06
-35.23
44598
37.48
370.29
45.64
32.89
24.73
24.73
69.35
20.73
90.08
-3.24
-10.51
13613
68.14
221.29
199.16
132.08
126.81
95.48
56.48
24.13
80.60
-26.07
-29.58
10803
36.56
0.00
54.95
0.00
13.58
13.58
0.00
128.19
128.19
0.00
0.00
11864
39.09
470.24
51.03
27.76
54.46
54.46
71.85
33.02
104.87
11.73
14.77
11807
6.56
1,745.40
6.89
6.01
9.89
9.89
-11.17
34.43
23.26
-4.16
-7.09
13893
41.66
463.97
64.61
33.43
34.38
20.29
-32.14
32.84
0.69
-10.82
-21.00
11536
77.69
268.10
338.68
162.61
53.96
47.43
52.24
20.76
73.00
-13.17
17.25
11259
64.33
178.02
171.82
150.02
47.77
45.72
68.14
16.80
84.94
-12.73
-31.99
10075
45.35
267.76
59.07
48.65
27.98
12.00
29.08
131.91
160.99
-4.79
-10.14
11798
146.63
526.56
25.81
3.34
109.27
93.02
55.43
65.35
120.77
-12.15
-11.87
11603
60.11
171.20
136.53
132.67
22.46
10.33
40.06
47.82
87.87
-5.32
42.13
10341
40.21
322.78
65.25
50.27
344.51
48.23
25.65
57.46
83.12
-8.48
-9.05
12042
COOPERATIVE OF AMERICAN PHYSICIANS INSURANCE COMPANY, INC., A RRG
34.48
303.47
50.76
48.51
12.94
29.54
63.19
22.56
85.75
-6.21
0.00
14160
COVERYS RRG, INC.
1.44
383,840.52
1.45
0.03
1.34
0.06
137.01
3,570.99
3,708.00
0.00
0.00
10164
75.23
212.94
131.81
82.28
78.66
41.63
137.66
18.23
155.89
10.46
-6.42
13720
61.89
519.00
99.01
30.83
141.35
98.94
27.44
42.14
69.58
-5.08
-3.99
11676
CRUDEN BAY RRG INC
49.05
207.11
94.95
93.46
44.53
44.53
-9.53
8.10
-1.43
-152.44
-174.03
13655
77.08
334.43
158.33
61.42
188.07
104.67
32.22
14.25
46.47
2.22
-3.93
43125
61.06
199.75
147.73
121.13
23.60
23.60
119.20
68.50
187.69
-0.70
-46.63
13018
102.20
212.91
284.54
130.77
252.50
189.08
53.09
31.60
84.69
-2.13
-0.79
11842
DUBOIS MEDICAL RRG
31.58
485.81
38.08
24.82
17.14
17.14
-44.73
15.46
-29.27
-24.64
-24.80
10115
71.23
196.15
154.19
110.36
55.80
47.80
37.27
48.52
85.79
-19.14
-52.20
10125
116.73
163.10
442.14
232.23
254.91
160.00
99.04
22.35
121.39
27.74
47.77
14163
39.88
306.84
52.23
42.68
167.81
55.74
76.57
18.88
95.45
0.00
0.00
12003
EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)
130.19
149.84
251.55
128.95
73.83
61.51
56.42
52.50
108.91
-9.44
-19.15
12015
71.96
208.36
116.93
77.99
43.81
34.96
54.07
47.17
101.25
0.33
5.78
11714
89.86
131.44
366.83
310.58
127.47
113.96
67.88
40.21
108.09
7.19
12.04
38466
75.70
187.99
129.99
91.34
84.70
56.78
55.15
51.91
107.06
-8.61
-23.18
11840
114.35
119.02
317.11
233.00
179.69
158.14
53.41
33.97
87.38
-36.19
117.10
11698
42.35
295.56
71.84
57.40
23.80
23.80
79.33
26.01
105.34
-1.75
12.55
14439
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
11801
155.00
104.78
456.21
280.91
300.49
300.49
64.70
40.35
105.05
46.66
136.63
11278
41.79
283.51
70.96
59.90
17.25
17.25
43.63
4.92
48.56
6.30
-3.24
12625
48.72
343.49
82.47
49.28
52.66
52.66
15.80
37.83
53.63
-9.17
-6.47
NAIC
COMPANY
Liquidity
Cash to
Losses and
LAE Reserves
Leverage
Loss & LAE
Reserves to
PHS
Loss & LAE
Ratio
Expense
Ratio
Combined
Ratio
to PHS
to PHS
10842
1,164.17
38.03
1,091.68
246.61
1,668.95
127.48
46.88
36.76
83.65
19.85
7.90
12016
70.50
203.32
102.56
71.54
20.85
20.85
24.38
15.36
39.74
-18.66
-12.72
14032
127.79
98.85
91.40
72.35
105.98
105.98
85.00
16.13
101.13
0.00
0.00
12000
246.13
312.56
65.03
8.45
115.52
9.46
48.57
43.72
92.29
0.00
0.00
10163
45.32
349.99
32.46
20.46
0.00
0.00
0.00
0.00
0.00
6.38
-3.81
13782
0.96
74,430.23
0.96
0.14
2.00
2.00
11.53
95.85
107.38
0.00
0.00
11948
88.45
267.66
204.53
86.39
188.19
175.07
64.25
23.76
88.01
-3.70
11.22
10991
4.15
0.00
4.12
0.00
3.19
3.19
0.00
40.05
40.05
0.00
0.00
11145
GOLDEN INS CO RRG
83.15
422.43
148.44
42.26
96.76
80.05
50.76
37.27
88.03
19.56
21.20
12512
38.40
267.11
62.17
60.61
47.72
47.72
133.15
11.31
144.46
58.71
207.99
13973
GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP,
INC.
114.84
0.00
149.45
0.00
96.03
69.87
2.77
82.85
85.62
0.00
0.00
11581
GRACO RRG INC
11.75
0.00
10.19
0.00
312.24
27.96
0.00
92.20
92.20
0.00
0.00
11941
46.94
326.99
72.14
47.00
32.08
32.08
5.49
16.23
21.72
-19.23
-31.34
11696
GUARDIAN RRG INC
43.32
243.22
73.30
69.58
34.16
34.16
152.32
19.46
171.79
1.21
-20.34
12014
GUTHRIE RRG
68.95
169.87
165.21
141.05
45.21
45.21
67.60
4.16
71.76
-2.40
-48.32
13057
3,246.22
0.00
5,645.18
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
12236
102.92
275.25
897.01
316.65
438.26
142.26
63.28
34.64
97.91
-53.50
-71.45
11813
67.65
228.90
163.49
105.59
58.59
52.84
39.87
27.73
67.59
-33.13
-53.52
10080
43.84
280.60
68.53
55.71
29.17
25.23
45.84
31.77
77.60
-10.48
-17.22
11832
HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG
(HEALTHCAP RRG)
165.29
216.69
360.97
100.78
464.08
41.04
110.12
-12.84
97.28
10.34
12.47
11683
43.38
334.34
71.68
49.42
20.38
18.62
31.22
24.41
55.62
-11.11
-12.65
11998
43.13
240.91
73.55
70.79
49.38
49.38
58.06
18.99
77.05
-12.75
-16.35
11097
30.95
9,392.92
44.82
1.54
-0.06
-0.06
29.23
-62,185.94
-62,156.71
-10.38
-15.31
11950
64.73
183.93
173.21
145.49
4.92
21.61
64.10
57.40
121.50
-5.36
-19.83
26797
38.25
336.79
58.90
45.71
15.58
14.81
27.81
27.65
55.46
-12.05
-31.83
41246
10.89
7,335.72
12.08
1.51
0.00
0.00
0.00
0.00
0.00
23.66
45.01
11268
31.25
494.27
39.80
25.77
37.69
12.62
45.25
37.29
82.55
-4.45
-8.46
12018
166.88
160.65
172.15
64.21
155.25
152.72
25.37
46.77
72.14
8.20
1.61
11692
44.15
245.19
76.93
71.06
33.36
33.36
41.61
20.84
62.45
-14.10
-44.04
21.20
12320
68.55
190.88
117.51
89.81
51.25
51.25
66.50
44.02
110.51
18.46
14375
540.15
3,309.46
134.47
0.75
145.61
7.28
60.69
192.92
253.60
0.00
0.00
12594
114.78
131.94
376.98
248.93
226.17
201.99
71.71
28.84
100.55
-12.95
39.48
11872
42.13
253.12
65.49
61.41
20.51
10.11
6.28
26.25
32.52
-20.47
-47.08
11939
52.08
210.24
98.86
90.29
52.33
33.33
100.92
24.97
125.89
3.97
-14.13
11803
LAKE STREET RRG INC
41.14
265.70
69.90
63.94
62.25
62.25
69.56
14.54
84.10
9.77
-5.77
14444
LAMMICO RRG, INC.
8.63
60,728.74
8.68
0.17
8.10
0.30
14,114.29
111.41
14,225.69
0.00
0.00
13014
110.43
165.78
344.70
188.29
303.83
245.29
74.58
34.96
109.54
39.61
39.25
11500
2.90
0.00
2.88
0.00
27.74
0.00
0.00
0.00
0.00
0.00
0.00
12627
103.78
117.51
326.51
267.74
166.47
149.86
41.28
11.61
52.89
21.35
98.17
11958
30.57
332.82
42.63
41.90
27.83
23.40
44.58
43.66
88.24
-1.07
-0.69
14084
0.23
0.00
0.22
0.00
0.52
0.01
0.00
299,864.29
299,864.29
0.00
0.00
11684
LVHN RRG
118.55
0.00
880.17
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
12554
MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP
73.29
245.08
120.61
67.14
88.10
62.60
69.47
28.26
97.72
-17.91
-20.91
NAIC
COMPANY
Liquidity
Cash to
Losses and
LAE Reserves
Leverage
Loss & LAE
Reserves to
PHS
Loss & LAE
Ratio
Expense
Ratio
Combined
Ratio
to PHS
to PHS
11117
305.68
6,065.08
376.01
2.03
558.17
0.00
56.46
0.00
0.00
-3.24
10697
461.75
168.52
1,117.29
143.59
1,556.02
365.70
43.87
58.86
102.74
0.00
-10.50
0.04
12355
46.75
255.36
82.61
69.20
54.34
46.31
12.01
11.38
23.39
-52.04
-68.75
26257
53.74
251.19
109.71
81.27
64.55
41.91
80.79
12.19
92.98
-13.36
-37.14
13589
212.48
426.97
376.27
41.47
739.80
36.99
92.65
-3.63
89.02
-0.57
-0.58
10124
62.81
217.49
163.83
119.94
71.82
42.40
-32.76
38.15
5.39
-82.43
-103.26
44237
53.71
231.62
104.59
84.08
82.44
37.20
44.74
11.96
56.70
-16.62
-40.62
11999
106.87
118.79
271.40
213.77
125.48
103.70
65.42
41.99
107.42
-14.29
-5.22
14219
12.30
982.79
13.28
10.98
83.25
-40.36
34.96
-48.16
-13.20
0.00
0.00
14062
MMIC RRG, INC.
13.39
0.00
3.95
0.00
2.97
0.15
0.00
7,922.58
7,922.58
0.00
0.00
13812
133.28
114.66
72.27
47.29
42.76
42.76
60.60
39.67
100.27
-1.00
-54.16
11547
101.08
133.65
274.45
203.16
1,029.80
98.43
66.85
47.54
114.39
35.46
-1.43
11585
56.95
210.27
126.98
106.03
71.88
56.57
64.98
11.33
76.31
-23.74
-58.37
12779
51.12
206.06
89.40
84.88
45.32
43.22
34.95
12.94
47.90
-13.06
-55.07
14366
63.78
28,725.82
37.31
0.20
49.13
2.95
1,721.10
432.52
2,153.62
0.00
0.00
11806
56.24
250.65
117.67
83.47
41.86
41.86
43.96
47.10
91.06
-12.24
-20.70
12235
87.83
133.94
251.23
213.56
46.91
25.47
160.51
89.36
249.86
-0.36
-23.75
10083
73.75
160.31
251.48
212.70
127.49
57.54
80.64
25.96
106.60
-1.88
16.61
12293
109.00
131.32
177.65
124.12
91.39
27.97
133.35
90.41
223.75
22.83
29.26
36072
82.94
141.26
172.80
147.49
219.89
41.93
70.82
7.74
78.56
-6.89
-30.33
44016
64.22
879.97
155.58
27.53
-0.04
-5.26
69.59
-85.41
-15.82
-0.06
-3.75
11197
78.25
246.80
69.54
36.01
76.81
34.91
68.19
31.36
99.55
2.97
-2.36
12529
NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.
126.56
0.00
108.52
0.00
122.22
0.00
0.00
0.00
0.00
0.00
0.00
10234
14.57
59,947.40
16.17
0.19
8.82
7.80
13.03
90.21
103.24
0.00
-0.04
14130
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
12539
88.89
213.68
518.53
273.00
148.27
-61.29
39.76
-85.33
-45.57
-49.58
-101.42
13792
NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP
62.81
6,993.89
118.47
2.70
151.57
37.17
40.72
37.35
78.07
-0.52
-0.20
12532
75.56
255.98
125.53
64.90
48.22
78.58
65.62
24.23
89.85
22.50
13.37
12275
118.70
99.36
288.81
244.88
192.35
167.42
72.73
20.43
93.15
62.90
96.75
13059
NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP
82.53
176.40
456.18
313.36
245.88
168.82
77.89
21.13
99.02
12.84
-20.41
10752
NOVUS INS CO RRG
110.41
18.73
187.66
907.51
298.96
21.73
311.30
192.26
503.56
103.03
331.66
13644
128.94
171.77
399.74
180.50
30.05
90.53
52.09
45.61
97.70
-38.94
-78.54
12845
OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.
86.47
97.69
127.92
151.44
99.92
118.31
26.02
65.11
91.13
-12.92
38.11
10158
OCEAN RRG INC
245.69
50.29
534.22
432.40
191.64
191.64
115.45
-9.55
105.90
166.83
164.84
12189
92.82
165.74
299.51
194.69
171.46
177.91
57.30
28.21
85.51
5.58
12.71
13062
651.67
17.54
453.27
396.50
0.00
2.60
-4,067.72
6,202.37
2,134.65
-894.39
-39.08
44121
OMS NATL INS CO RRG
65.04
216.35
129.86
92.29
38.71
46.37
55.13
28.24
83.38
-8.37
-18.99
10353
107.89
232.53
208.47
83.09
145.58
50.95
71.95
33.76
105.71
-11.76
-24.35
44105
41.16
419.88
64.48
37.31
28.62
25.92
52.30
24.94
77.25
-2.48
-6.50
12183
29.48
450.55
32.44
24.42
24.50
24.50
-34.20
11.50
-22.70
-39.30
-46.94
10171
45.29
252.45
78.42
68.59
0.00
0.00
0.00
0.00
0.00
-15.69
-18.61
14260
ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION GROUP)
84.72
463.22
118.16
30.11
149.65
108.36
66.67
18.81
85.49
0.00
0.00
11575
PACE RRG INC
273.98
74.19
468.80
230.64
396.84
12.67
677.86
-92.34
585.52
84.63
212.35
44130
60.44
259.31
119.98
76.56
44.09
27.98
-17.37
29.62
12.25
-35.76
-60.61
11973
64.25
238.52
141.45
92.30
93.62
74.03
12.75
45.54
58.29
-52.74
-46.39
NAIC
COMPANY
Liquidity
Cash to
Losses and
LAE Reserves
Leverage
Loss & LAE
Reserves to
PHS
Loss & LAE
Ratio
Expense
Ratio
Combined
Ratio
to PHS
to PHS
11846
34.04
316.45
50.62
46.99
25.02
22.42
3.79
30.91
34.71
-15.26
11772
90.68
108.25
532.22
542.19
0.00
5.50
5,491.35
2,119.29
7,610.64
55.74
-31.11
8.76
11587
PELICAN INS RRG
18.60
642.68
22.37
18.71
19.86
23.35
19.68
35.90
55.58
-2.95
-13.40
12004
28.83
358.54
40.22
38.90
11.66
11.66
22.24
35.26
57.50
-7.37
-9.96
13995
196.10
281.29
374.80
67.95
356.31
125.92
61.15
45.98
107.13
-7.20
0.00
12746
92.14
172.91
290.25
182.17
154.70
136.60
33.19
52.21
85.40
-37.92
-60.76
12918
PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP
87.33
158.59
257.35
185.81
86.17
86.17
51.88
30.03
81.91
-18.49
-61.96
12507
PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP
81.01
278.57
205.21
90.93
75.05
59.15
17.91
12.39
30.31
-28.84
-33.67
11514
59.31
274.34
123.84
76.11
31.09
29.72
32.71
32.79
65.49
-18.26
-31.48
10934
61.07
169.05
150.67
145.95
31.29
31.29
67.81
46.54
114.35
-20.35
-37.25
11513
79.73
186.09
215.36
145.16
439.22
42.50
163.64
36.72
200.36
-17.60
-21.48
14108
PIA PROFESSIONAL LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP
24.88
1,377.77
18.62
5.43
0.00
15.02
69.35
100.55
169.90
0.00
0.00
13582
PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP
37.32
283.38
59.22
56.00
92.46
75.77
53.17
12.03
65.20
2.21
-86.47
12348
41.39
354.86
68.40
46.56
31.97
28.22
-3.47
21.69
18.22
-31.52
-54.90
12198
781.37
32.25
362.97
144.06
430.88
129.26
94.14
18.04
112.18
7.95
35.39
11980
40.45
325.27
65.35
49.67
127.35
23.77
25.81
53.12
78.93
-6.93
-7.15
11858
PINNACLE RRG INC
4.02
4,625.87
4.18
2.25
0.81
0.81
-133.60
249.57
115.97
-1.67
-6.26
14205
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
11809
49.22
275.97
83.27
61.31
35.17
31.62
74.83
70.15
144.98
-3.78
-3.70
12497
154.70
158.24
424.25
173.30
194.37
149.27
67.84
16.13
83.97
23.26
19.87
44083
48.28
289.63
87.57
62.62
36.58
28.57
25.47
19.42
44.89
-11.48
-18.78
12613
PREMIER PHYSICIANS INSURANCE COMPANY, A RISK RETENTION GROUP
96.64
319.54
280.66
90.89
193.71
143.94
33.48
45.24
78.71
-45.39
-13.67
13179
231.96
155.89
26.80
7.41
37.11
19.44
11.82
120.61
132.43
-7.17
-12.46
11671
254.77
42.05
251.41
234.68
0.00
0.00
58.04
0.00
0.00
13.38
12.78
14461
PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)
4.84
0.00
5.08
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
10840
3.86
0.00
3.86
0.00
412.25
0.00
0.00
0.00
0.00
0.00
0.00
12608
PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION
GROUP
10.67
2,190.31
11.52
4.93
23.57
1.18
-15.77
4.32
-11.46
-0.91
2.51
13067
110.50
335.81
167.89
45.25
273.91
32.69
120.31
17.84
138.14
-1.72
-18.95
11350
20.98
605.84
25.69
20.21
33.43
19.79
14.79
53.30
68.09
-9.03
-12.28
13078
70.16
175.68
93.42
75.80
61.73
44.46
39.79
32.99
72.78
-13.23
-19.51
13736
81.17
163.46
234.88
177.03
57.64
27.96
167.45
42.05
209.50
18.36
12.07
12019
REPUBLIC RRG
0.56
0.00
0.41
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
12209
69.04
196.90
171.14
125.89
68.30
60.39
51.59
20.28
71.87
-17.48
-45.63
14135
RPX RRG
10.28
6,202.72
10.40
1.63
13.99
6.99
156.68
146.36
303.04
0.00
0.00
11712
39.10
364.65
61.90
43.42
34.08
15.38
94.62
50.37
144.99
-2.27
-4.84
12511
47.49
585.99
65.69
23.61
56.71
56.71
45.85
10.30
56.15
-0.46
-19.29
11808
86.56
157.16
228.62
168.06
68.08
63.72
44.82
15.87
60.68
-59.76
-100.45
12988
SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP
86.76
143.77
176.94
141.85
172.29
140.51
59.62
35.71
95.33
1.03
17.49
11267
43.86
367.22
59.06
36.67
77.64
56.98
21.81
66.85
88.65
-1.63
12.18
14136
SELECT MD RRG
47.68
522.03
73.80
29.65
183.09
31.83
98.55
20.80
119.35
0.00
0.00
12005
35.02
405.93
52.07
36.63
43.82
37.36
60.14
29.99
90.13
-10.99
-16.14
13557
SIGMA RRG, INC.
73.95
199.51
141.01
95.58
42.93
42.93
58.93
10.88
69.81
-13.37
-38.27
12907
82.52
153.41
388.67
307.01
137.31
137.31
71.66
5.90
77.57
-15.57
23.24
14207
269.04
266.76
328.60
45.79
358.90
291.24
71.87
12.08
83.95
0.00
0.00
NAIC
COMPANY
Liquidity
Cash to
Losses and
LAE Reserves
Leverage
Loss & LAE
Reserves to
PHS
Loss & LAE
Ratio
Expense
Ratio
Combined
Ratio
to PHS
to PHS
10754
51.94
284.09
97.48
66.06
86.70
74.82
6.83
66.24
73.07
-32.71
-49.80
11114
39.62
288.92
62.82
54.88
13.17
13.17
-110.16
29.84
-80.32
-91.94
-116.88
11688
94.89
138.52
301.39
229.30
88.69
88.69
89.42
10.31
99.73
-7.77
24.17
13993
26.57
0.00
10.24
0.00
10.54
3.18
0.00
586.04
586.04
0.00
0.00
44075
60.44
200.11
145.08
119.96
104.38
17.61
120.78
-1.38
119.40
4.70
7.80
10476
54.28
426.94
94.38
40.73
36.40
32.69
34.56
53.96
88.52
-11.97
-18.68
13135
SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC
45.52
0.00
80.98
0.00
523.07
0.00
0.00
0.00
0.00
0.00
0.00
14026
143.85
284.94
101.80
24.84
395.26
39.53
43.68
34.35
78.03
-6.58
0.00
11669
SUPERIOR INS CO RRG
160.05
97.31
461.45
296.27
166.48
56.41
129.80
64.91
194.71
-2.98
11.24
10113
TERRA INS CO RRG
49.02
1,334.43
79.52
12.16
54.96
37.18
9.11
62.36
71.47
-1.57
-2.37
14395
0.62
0.00
0.61
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
10152
278.32
46.56
198.41
153.12
103.08
103.08
105.03
5.19
110.22
4.79
11.25
11153
24.05
0.00
29.98
0.00
35.20
13.78
0.00
11.69
11.69
0.00
0.00
10084
76.54
194.07
119.62
80.53
232.62
23.45
38.83
-37.03
1.81
-7.87
-16.24
11548
74.23
271.96
276.94
137.18
65.62
65.62
135.35
8.29
143.64
17.25
-1.17
12280
128.28
95.17
859.77
704.29
343.62
306.65
246.01
38.91
284.92
92.81
105.54
10020
68.70
191.17
187.38
142.67
54.00
43.65
83.59
18.36
101.95
-1.25
-11.20
10712
77.38
0.00
111.94
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
12915
50.88
369.41
85.04
45.24
78.60
61.53
47.10
42.73
89.83
3.66
-0.93
13988
135.71
86.34
62.27
53.14
89.54
89.54
50.37
56.97
107.34
6.34
0.00
11063
VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP
8.95
0.00
9.80
0.00
3.11
3.11
0.00
99.16
99.16
0.00
-13.18
13974
73.52
328.23
186.70
77.37
282.76
52.68
135.76
63.32
199.09
-4.02
0.00
13786
44.67
371.59
76.52
46.10
58.24
36.11
80.00
14.30
94.30
-0.20
-0.10
11802
WARREN RRG INC
58.34
195.40
137.11
120.27
29.92
29.92
114.05
41.42
155.48
22.85
-0.03
11682
WELLSPAN RRG
88.75
113.12
178.33
177.64
83.19
83.19
67.77
6.09
73.87
-31.38
-56.77
14122
105.84
222.63
213.35
90.55
238.34
156.09
58.63
26.75
85.38
32.07
0.00
11978
WESTERN INS RRG INC
4.31
0.00
4.44
0.00
6.11
6.11
31.92
157.54
189.46
0.00
0.00
40940
29.89
809.18
41.60
17.20
3.31
2.78
-35.00
138.52
103.52
-10.46
-13.47
13154
14.01
2,028.07
15.77
5.55
12.60
12.60
1.40
82.01
83.41
0.00
0.30
11796
YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)
69.38
276.78
215.96
112.46
108.05
72.63
16.85
55.08
71.92
-27.87
-43.31
Additional Analysis of RRGs
Assigned a Financial Stability Rating®
®
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®
®
Financial Stability Ratings (FSRs) - Risk Retention Groups
as of 5/2/2013
NAIC # COMPANY
FSR
12252 AEGIS Healthcare RRG, Inc.
A
11710 Allied Professionals Insurance Company, RRG
A'
11534 American Trucking and Transportation Insurance Company, RRG
A
11598 Applied Medico-Legal Solutions RRG, Inc.
A'
11825 CARE RRG, Inc.
A
11976 Centurion Medical Liability Protective RRG, Inc.
A
12167 Charitable Service Providers Reciprocal RRG
A
14388 Cherokee Guarantee Company Inc., RRG
A
10075 Consumer Specialties Insurance Company RRG
A
11798 Continuing Care RRG, Inc.
A
13018 Doctors & Surgeons National RRG
A
14163 Emergency Capital Management, LLC, RRG
A
12003 Emergency Medicine Professional Assurance Company RRG (EMPAC)
A
11948 Global Hawk Insurance Company RRG
A
11832 Healthcare Industry Liability Reciprocal Insurance Company, RRG (HEALTHCAP RRG)
A
12594 J.M. Woodworth RRG, Inc.
A
13014 Lancet Indemnity Risk Retention Group, Inc.
A
11806 National Assisted Living RRG, Inc.
A
36072 National Guardian Risk Retention Group
A
10234 National Service Contract Insurance Company (RRG)
A
44130 Paratransit Insurance Company, RRG
A'
11973 PCH Mutual Insurance Company, RRG
A
11809 Ponce de Leon LTC RRG, Inc.
A
12613 Premier Physicians Insurance Company, a Risk Retention Group
A
13557 Sigma RRG, Inc.
A
The most current FSRs must be verified by visiting www.demotech.com.
®
AEGIS Healthcare RRG Inc. (Baltimore, MD)
Address and Geographic
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
555 Fairmount Avenue
Baltimore, MD 21286-5417
NAIC Company Code : 12252
Business Focus : P&C Minimum NPW
Geographic Focus: Geography Minimum NPW
NAIC Ownership Structure: Risk Retention Group
Tax Identification Number : 20-1516551
Distribution Channel: Direct Response
Total Assets
Policyholder Surplus
Total Liabilities
Net Income
Total Revenue
2,535
1,024
1,511
105
1,124
2,472
1,222
1,250
164
1,056
2,860
1,371
1,489
183
1,070
3,329
1,148
2,181
-224
652
3,652
1,128
2,524
-254
638
Direct Premiums Written
Net Premiums Written
Net Premiums Earned
757
345
1,063
1,694
988
988
1,624
978
978
1,561
615
615
1,587
634
603
1,373
127.66
10.82
0.34
1,097
135.19
22.43
0.81
1,385
136.76
20.42
0.71
1,785
239.78
-26.06
0.54
1,772
279.44
-32.89
0.56
MSA: Baltimore-Towson, MD (Metro)
Credit Ratings
Rating
AM Best Financial Strength Rating
Demotech Financial Strength Rating
S&P Financial Strength Rating
Moody's Financial Strength Rating
Fitch Financial Strength Rating
-A
----
Date
-11/13/12
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
Loss & Loss Adj Exp Reserves
Loss & LAE Reserves/ NPE (%)
Pre-tax Operating ROAE (%)
Operating Leverage (%)1
----
Liquidity ($000)
STATUTORY CONTACT INFORMATION
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Barbara Labuskes
(410) 339-7263x1203
---
Total Assets
Johnson Lambert & Co. LLP
Towers Watson & Co.
--Isabella M. Firth
2009Y
2010Y
2011Y
2012Y
3,000
Net Yield on Invested Assets
Net Investment Income/Earned Premiums
Return on Average Equity (C&S)
Return on Avg Assets
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Policyholder Dividend Ratio
4.23
17.73
10.61
3.38
57.99
116.18
52.34
174.17
168.42
5.75
0.00
4.18
7.39
15.70
5.06
41.70
41.41
35.63
83.10
75.71
7.39
0.00
5.82
9.42
14.88
5.43
53.42
30.35
34.49
83.77
74.36
9.42
0.00
2.14
6.05
-17.36
-6.29
95.23
65.55
83.83
160.78
154.73
6.05
0.00
1.74
5.45
-22.06
-6.70
98.42
66.77
87.44
165.20
159.47
5.72
0.00
2,500
Profitability Ratios (%)
20.00
15.00
10.00
5.00
0.00
-5.00
-10.00
-15.00
-20.00
-25.00
174.2
127.0
3,500
2008Y
Combined Ratio
165.2
160.8
111.0
107.0
81.0
1,500
1,000
500
0
2008Y
2009Y
2009Y
UNDERWRITING ANALYSIS (%)
Loss Adjustment Expense Ratio
Net Commission Ratio
Salaries & Benefits Ratio
Tax, License & Fees Ratio
Admin & Other Expense Ratio
Gross Premiums Written ($000)3
Loss & Loss Adj Expense ($000)
Other Underwriting Exp Incurred ($000)
Net Underwriting Gains ($000)
Retention Ratio
Effective Tax Rate
Pre-Tax Operating Margin
REINSURANCE ANALYSIS ($000)
Reinsurance Recoverable ex US Aff
Retention Ratio (NPW/GPW) (%)3
Unauthorized Net Recov. (ex US Aff) (%)
Nonaffiliated Reins Assumed / GPW (%)
Reinsurance Payable on Losses, LAE
Reinsurance on Known Case Reserves
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
5.65
44.19
0.00
11.43
60.56
757
616
400
46
45.54
12.66
9.54
6.07
16.01
0.00
4.08
21.31
1,694
412
409
167
58.34
29.93
22.19
18.94
15.33
0.00
4.86
10.16
1,624
522
297
159
60.20
33.57
23.44
11.39
23.89
0.00
7.52
34.15
1,561
585
403
-374
39.39
NM
-51.60
10.99
NA
NA
NA
NA
NA
594
423
-414
NA
NM
-59.47
2008Y
2009Y
2010Y
2011Y
2012Y
0
45.54
NA
0.00
0
0
0
58.34
NA
0.00
0
0
0
60.20
NA
0.00
0
0
1
39.39
0.00
0.00
0
0
NA
NA
NA
NA
NA
NA
Gross Premiums Written
Retention Ratio (NPW/GPW)
2010Y
2011Y
2012Y
CASH FLOW & LIQUIDITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Cash, Short-Term Investments / Liabilities
Cash, Common & Liquid Bonds / Liabilities
Cash & Short-Term Investments / C&S
Liabilities / Liquid Assets (IRIS Ratio)
Affiliated Investments / Capital & Surplus
Reserve coverage2
Cash From Underwriting ($000)
Net Cash From Operations ($000)
Underwriting Cash Flow Ratio
Operating Cash Flow Ratio
Unassigned Funds / Total Assets
18.88
93.30
27.86
107.00
0.00
102.69
-446
-336
47.91
47.91
9.39
20.76
122.99
21.24
81.00
0.00
140.15
-69
71
93.69
94.45
18.44
35.71
114.16
38.77
88.00
0.00
122.77
500
339
192.45
239.17
21.17
23.11
78.45
43.91
127.00
0.00
95.89
43
80
105.08
105.08
11.48
38.96
90.21
87.14
111.00
0.00
107.68
76
243
106.99
94.75
9.42
2010Y
2011Y
2012Y
139
81
187*
0
105*
51
5.1
118
71
-1
0
75
59
5.9
136
54
-37*
0
105*
2 2*
2.2*
12
12
88
0
-22
-36
-38
-16*
-16*
127*
0
-7
-46
-106
Unusual Values Equal to or
Over
Under
IRIS RATIO ANALYSIS (%)
2008Y
88.0
2,000
83.8
83.1
4,000
PROFITABILITY RATIOS (%)
Total Liabilities
GPW to Policyholders' Surplus3
NPW to Policyholders' Surplus
Change in Net Premiums Written
Surplus Aid to Policyholders' Surplus
Two-Year Overall Operating Ratio
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
Gross Change in Policyholders' Surplus
50
-10
19
Net Change in Adj Policyholders' Surplus
25
-10
21
Liabilities to Liquid Assets
100
--81
Agents' Bal to Policyholders' Surplus
40
--0
1-Yr Resv Dev to Policyholders' Surplus
20
---16
20
--3
Est Curr Resv Defi/Policyholders' Surplus
25
--4
*Indicates an unusual value.
NOTE: Year to year assessment of IRIS Ratios is not always significant due to periodic changes in the
complements of each ratio.
GROWTH RATES & TRENDS (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Admitted Assets Growth
Total Liabilities Growth
-26.98
-39.33
-2.51
-17.28
15.72
19.11
16.40
46.49
8.67
20.57
Net Premiums Written Growth
Pre-Tax Operating Income Growth
Net Income Growth
Loss & Loss Adj Exp Reserves Growth
Direct Premiums Written Growth
Total Liabilities Five-year CAGR
Capital & Surplus Five-year CAGR
Admitted Assets Five-year CAGR
-65.60
5.39
39.08
20.06
-57.00
16.25
20.67
17.94
186.88
118.50
55.98
-20.10
123.93
8.60
20.39
13.53
-1.09
7.00
11.39
26.22
-4.16
3.25
10.81
6.48
-37.11
NM
NM
28.95
-3.88
-2.69
5.14
-0.38
-34.10
NM
NM
14.47
1.69
3.16
3.38
3.23
Capital ($000) & Capital Ratios (%)
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
ACL Risk Based Capital
RBC - Total Adjusted Capital
Capital and Surplus
Co. Action Level RBC (TAC/(ACL RBC*2))
60.2
58.3
45.5
39.4
2008Y
ASBESTOS/ENVIRONMENTAL RESV
2009Y
2010Y
2011Y
2012Y
1,600
1,400
1,200
1,000
800
600
400
200
0
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
RESERVE ANALYSIS (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
Risk Based Capital Ratio (TAC/ACL RBC)
Change in Loss & LAE Resv / Reserves
1 Yr Loss Reserve Dev / 1Y Prior C&S
Loss and LAE Reserves / NPE
1 Yr Loss Reserve Development / NPE
IBNR/ Total Reserves
Reserves/ Equity
20.06
-1.83
-35.43
127.66
-1.69
63.16
134.07
-20.10
-16.30
2.96
135.19
-16.89
86.62
89.80
26.22
-22.36
-36.46
136.76
-27.93
53.19
100.97
28.95
-7.10
-46.11
239.78
-15.85
36.44
155.51
14.47
NA
NA
279.44
NA
NA
157.06
Realized Capital Gains (Losses)
Net Unrealized Capital Gains (Losses)
Dividends to Stockholders
Dividend Payout Ratio (%)
Net Premiums Written / Avg C&S (%)
Liabilities / Capital & Surplus (%)
Total Reins Recov Excl US Aff / C&S (%)
One-Year Survival Ratio (%)
Asbestos
Environmental
Combined
Three-Year Survival Ratio (%)
Asbestos
Environmental
Combined
2008Y
2009Y
CAPITAL/LEVERAGE ANALYSIS ($000)
1 - Operating Leverage = Net Premiums Written / Policyholder Surplus
3 - Calculation for Gross Premiums or Reinsurance Assumed can be overstated in SNL Groups especially
when an inter-company pooling arrangement exists.
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
1,024
NA
NA
NA
NA
1,222
NA
NA
NA
NA
1,371
NA
NA
NA
NA
1,148
NA
NA
NA
NA
1,128
NA
NA
NA
NA
13
-13
0
0.00
34.75
147.57
0.00
0
54
0
0.00
94.61
102.33
0.00
24
-17
0
0.00
79.61
108.58
0.00
0
1
0
0.00
47.61
189.97
0.09
0
47
0
0.00
54.97
223.66
NA
2 - Reserve coverage = (Cash & Invested Assets + Re Recoverable) / (Loss & LAE Reserves + Unearned Premiums)
4 - Reinsurance Relation : As Cedent and As Reinsurer would work only for Single and Group Companies.
AEGIS Healthcare RRG Inc. (Baltimore, MD)
BALANCE SHEET ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
1,125
0
0
0
0
1,278
0
0
0
0
1,168
0
0
0
0
1,207
0
0
0
0
1,293
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Net Adm Cash,Cash Equi, Short-Term Inv
Other Investments
Subtotals, Cash & Invested Assets
Premiums & Considerations Due
Reinsurance Recoverable
All Other Admitted Assets
Separate Account Assets
Total Net Admitted Assets
0
285
0
1,410
0
128
998
0
2,535
0
259
0
1,537
0
63
871
0
2,472
0
532
0
1,700
0
0
1,160
0
2,860
0
504
0
1,711
0
276
1,343
0
3,329
0
983
0
2,277
291
47
1,038
0
3,652
Underwriting Deductions ($000)
Net Losses Paid - Personal
Net Losses Paid - Commercial
Net Losses Paid - A&H
Net Losses Paid
Net LAE Paid
Change in Loss Reserves - Personal
Change in Loss Reserves - Commercial
Liabilities
Unpaid Losses
Unpaid Loss Adj Expenses
Unearned Premiums
Total Reinsurance Liabilities
Commissions, Other Exp & Taxes
Payable to Parent, Subs & Affiliates
Other Liabilities
1,283
90
1,373
0
0
107
0
31
1,006
91
1,097
0
0
114
0
40
1,290
95
1,385
0
0
104
0
0
1,675
111
1,785
0
275
121
0
0
1,662
111
1,772
342
275
135
0
0
Total Liabilities
1,511
1,250
1,489
2,181
2,524
Assets
Bonds
Preferred Stocks
Common Stocks
First Lien Real Estate Loans
Real Estate Loans Less First Liens
Total Mortgage Loans
Occupied Properties
Income Generating Properties
Properties for Sale
INCOME STATEMENT ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
0
757
0
757
0
1,694
0
1,694
0
1,624
0
1,624
0
1,561
0
1,561
0
1,587
NA
1,587
-412
345
-718
1,063
-706
988
0
988
-646
978
0
978
-946
615
0
615
-953
634
31
603
0
329
0
329
58
0
227
0
629
0
629
59
0
-277
0
53
0
53
181
0
284
0
406
0
406
54
0
110
NA
NA
NA
NA
NA
NA
NA
Change in Loss Reserves - A&H
Change in LAE Reserves
Net Change in Loss and LAE Reserves
Losses and LAE Incurred
Other Underwriting Expense Incurred
Other Underwriting Deductions
Net Income Protected Cells
Net Underwriting Gain (Loss)
Policyholder Dividends (PHD)
Total underwriting deductions
0
2
229
616
400
0
0
46
0
1,017
0
1
-276
412
409
0
0
167
0
821
0
4
288
522
297
0
0
159
0
819
0
16
125
585
403
0
0
-374
0
989
NA
NA
NA
594
423
0
0
-414
0
1,017
61
13
0
0
120
15
105
73
0
0
-6
234
70
164
92
24
0
0
275
92
183
37
0
0
0
-336
-112
-224
35
0
0
0
-379
-125
-254
Revenue
Personal P&C Direct Premiums
Commercial P&C Direct Premiums
Accident & Health Direct Premiums
Net Reinsurance Premiums5
Change in U/E Premiums Reserve
Net Premiums Earned
Total Capital and Surplus
Common Capital Stock
Preferred Capital Stock
Surplus Notes
Unassigned Surplus
Other Including Gross Contributed
Capital & Surplus
154
0
0
238
632
1,024
154
0
0
456
612
1,222
154
0
0
605
612
1,371
146
0
0
382
620
1,148
151
0
0
344
634
1,128
Income ($000)
Net Investment Income
Net Realized Capital Gains (Losses)
Finance Service Charges
All Other Income
Income after cap gains (loss) before tax
Federal Income Tax
Net Income
Total Liabilities and C&S
2,535
2,472
2,860
3,329
3,652
Pre-tax Operating Income
Memo: Total Revenue
Memo: Paid Expenses
Memo: Affiliated Investments ($000)
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
Cash & Short Term Investments
All Other Investments
Total Affiliated Investments
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
Unrealized Capital Gains
Total Cash & Investments
Affiliated Cash & Investments
Total Bonds (incl Short-Term)
Total Preferred Stock (incl Nonadmitted)
Total Common Stock (incl Nonadmitted)
Total Mortgage Loans (incl Nonadmitted)
Total Real Estate (incl Nonadmitted)
INVESTMENT ANALYSIS ($000)
61
13
-13
1,410
0
0
0
1,125
0
0
73
0
54
1,537
0
0
0
1,278
0
0
92
24
-17
1,700
0
0
0
1,168
0
0
37
0
1
1,711
0
0
0
1,207
0
0
35
0
47
2,277
0
0
0
1,293
0
0
Privately Placed Bonds/Total Bonds (%)
Privately Placed Bonds / C&S (%)
Bonds Rated 3-6 / Total Bonds (%)
Mortgages in Foreclosure / Total (%)
Mortgages in Foreclosure / C&S (%)
Mortgages in Good Standing / Total (%)
Real Estate Occupied / Total (%)
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
NA
NA
NA
NA
NA
NA
Top 5 States by DPW - 2012Y
BOND QUALITY ($000) - Annual Only6
Alabama - 0.0%
Arkansas - 0.0%
Arizona - 0.0%
All other - 0.0%
Rank and States
1. Maryland
2. Alaska
3. Alabama
4. Arkansas
5. Arizona
All Other
MARKET POSITION ANALYSIS (%)
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
DPW ($000)
1,561
0
0
0
0
0
Rank and LOBs
DPW ($000)
All Other
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
1,760
21.12
0.00
NA
757
30.98
0.00
14.68
1,694
20.78
0.00
1.90
1,624
20.76
0.00
-3.79
1,561
33.02
when
pooling
h an iinter-company
t
li arrangementt exists.
i t
-336
-379
652
450
638
NA
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Investment Portfolio (%) - 2012
Bond Rated 3-6/Total Bond (%)
Bonds - 0.0%
Preferred Stocks - 0.0%
Common Stocks - 70.5%
Mortgage Loans - 0.0%
2012Y
2011Y
2010Y
2009Y
2008Y
Other Invstmts - 29.5%
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
Total: LT Bond, Com MBS
0
0
0
NA
0
RMBS Exposure
Total: LT Bond, Res MBS
0
0
0
NA
0
Municipal Securities
Issued States & Territories ($000)
Issued Political Subdivisions ($000)
Issued State Rev Obligations ($000)
Issued Industrial Development ($000)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
0
1,207
0
1,207
0
1,207
0
1,207
0
1,151
0
1,151
0
--0
0
3,564
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Bond Avg Asset Quality (1-6) (Actual)
Bonds Rated 3-6 / C&S
Class 5 and 6 Bonds / C&S
Bonds/Invested Assets
Common Stocks / C&S
Unaff common stock/Invested Assets
Preferred Stocks / C&S
Cash/Invested Assets
Mortgage & Real Estate / C&S
Mortgages in Foreclosure/Mortgages
Mortgages Loans/Invested Assets
Real Estate/Invested Assets
Other Investments/Invested Assets
Premiums & Cons due/Total Assets
Reinsurance recoverable/Total Assets
NA
0.00
0.00
0.00
109.81
79.76
0.00
20.24
0.00
NA
0.00
0.00
0.00
0.00
5.03
NA
0.00
0.00
0.00
104.62
83.12
0.00
16.88
0.00
NA
0.00
0.00
0.00
0.00
2.54
NA
0.00
0.00
0.00
85.19
68.72
0.00
31.28
0.00
NA
0.00
0.00
0.00
0.00
0.00
NA
0.00
0.00
0.00
105.12
70.54
0.00
29.46
0.00
NA
0.00
0.00
0.00
0.00
8.27
NA
0.00
0.00
0.00
114.62
56.81
0.00
43.19
0.00
NA
0.00
0.00
0.00
7.96
1.28
0.00
39.35
55.61
2.41
0.00
35.25
62.21
2.95
0.00
40.57
59.43
3.22
0.00
40.33
51.39
1.12
0.00
28.43
62.34
0.95
LT Bond
Common Stock
Preferred Stock
Total
Alaska - 0.0%
251
1,094
488
Class 6
LT BONDS & STOCKS SUMMARY ($000)
Maryland - 100.0%
234
1,056
462
Investment Grade
Class 1
Class 2
Non - Investment Grade
Class 3
Class 4
Class 5
SECURITIES ($000) - Annual Only6
Top Lines of Business by DPW - 2012Y
107
1,137
528
Rec from parent,sub or aff./Total Assets
All other admitted assets/Total Assets
Invested Assets/Total Assets
Investment Income/Total Assets
6 - The Securities and Bond section are held at carrying value
Allied Professionals Ins Co. (Orange, CA)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
1100 West Town & Country Road
Suite 1400
Orange, CA 92868-4655
MSA: Los Angeles-Long Beach-Santa Ana, CA (Metro)
Business Focus : Commercial Medical Malpractice Focus
Geographic Focus: National
Distribution Channel: Broker
Total Assets
Total Liabilities
Net Income
Total Revenue
16,256
7,117
9,139
1,243
6,996
18,918
8,367
10,551
1,196
8,355
22,115
9,043
13,072
940
8,043
24,157
11,350
12,808
2,235
9,443
31,532
13,003
18,529
1,422
13,087
Net Premiums Earned
9,815
7,084
6,602
10,561
8,512
7,986
12,639
8,363
7,699
13,553
9,614
9,088
20,219
15,366
12,703
4,283
60.92
29.22
1.00
4,898
56.51
21.64
1.02
6,431
74.64
16.21
0.92
6,275
73.02
31.77
0.85
7,917
52.59
19.64
1.18
Credit Ratings
Rating
AA'
----
Date
10/04/10
03/06/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Douglas Joseph Hauser
(714) 571-1864
(714) 571-1863
NSXDiehard@cs.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Warfield & Company
Perr & Knight
--Philip Christopher Stump
30,000
2008Y
2009Y
2010Y
2011Y
2012Y
2.93
5.56
20.13
8.40
30.52
44.85
12.99
75.37
69.41
5.96
0.00
2.29
4.33
14.88
6.79
23.13
56.01
11.96
79.14
74.52
4.62
0.00
1.80
4.11
11.06
4.40
37.93
44.79
14.29
82.71
78.24
4.47
0.00
1.67
3.69
21.71
9.55
20.93
44.42
8.37
65.34
61.44
3.90
0.00
1.50
2.50
11.77
5.06
34.61
41.12
13.83
75.73
72.70
3.02
0.00
Combined Ratio
25.00
82.7
79.1
75.4
20.00
75.7
65.3
15.00
64.0
61.0
61.0
20,000
15,000
57.0
10,000
5,000
0
2008Y
2009Y
0.00
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
17.52
14.88
0.00
3.71
26.26
9,815
2,015
3,177
1,410
72.18
31.12
25.78
11.17
28.32
0.00
3.81
23.88
10,561
1,847
4,767
1,372
80.60
31.62
20.83
23.64
19.00
0.00
3.92
21.86
12,639
2,920
3,745
1,034
66.17
31.85
17.13
12.56
19.19
0.03
4.07
21.12
13,553
1,902
4,270
2,916
70.94
31.71
34.64
20.78
25.24
0.17
3.44
12.27
20,219
4,397
6,318
1,988
76.00
40.00
18.13
2008Y
2009Y
2010Y
2011Y
2012Y
1,235
72.18
1.21
0.00
0
0
1,289
80.60
11.48
0.00
0
0
2,185
66.17
20.32
0.00
0
0
2,412
70.94
27.07
0.00
0
0
2,632
76.00
32.48
0.00
0
0
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
31.14
163.88
39.98
61.00
0.00
199.72
2,787
2,427
164.94
183.35
37.94
23.31
164.12
29.39
61.00
0.00
199.91
2,506
2,406
143.44
155.14
39.21
13.62
155.39
19.69
64.00
0.00
197.29
3,351
3,760
166.82
171.31
36.59
19.06
173.70
21.51
57.00
0.00
209.45
3,428
2,958
154.01
173.71
43.05
31.21
155.06
44.47
64.00
0.00
195.43
6,857
6,678
176.49
187.64
32.52
2010Y
2011Y
2012Y
140
92
-2
3
76
1 8*
1.8*
119
85
15
3
69
1 7*
1.7*
155
118
60*
3
68
1 5*
1.5*
26
26*
57
8
-10
-12
-7
15
15
64
10
0
-11
8
Over
Under
5.00
64.0
25,000
10.00
2008Y
35,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
8
25
-10
8
100
--64
40
--10
20
---2
20
---12
25
---24
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
19.71
17.93
16.37
15.45
16.90
23.89
9.24
-2.02
30.53
44.67
6.84
-35.59
-35.39
23.34
7.15
154.79
52.55
76.59
20.15
-3.48
-3.71
14.35
7.60
36.53
47.41
40.74
-1.75
-20.83
-21.40
31.30
19.68
20.21
28.60
23.24
14.96
137.35
137.66
-2.42
7.23
14.38
23.75
18.24
59.82
-27.47
-36.38
26.17
49.19
19.05
17.40
18.35
25,000
80.6
20,000
72.2
Capital and Surplus
76.0
70.9
66.2
15,000
10,000
14,000
5,000
12,000
318.8
295.1
284.7
10,000
0
2008Y
2009Y
2010Y
2011Y
233.5
211.7
8,000
2012Y
6,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
23.34
-8.04
-14.88
60.92
-7.10
28.74
60.18
14.35
-9.58
-12.90
56.51
-8.54
29.49
58.54
31.30
-2.01
-11.93
74.64
-2.18
19.97
71.11
-2.42
-9.90
-11.51
73.02
-9.85
26.09
55.29
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
4,000
2,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
7,117
7,117
1,206
590.14
295.07
8,367
8,367
1,976
423.45
211.72
9,043
9,043
1,588
569.34
284.67
11,350
11,350
1,780
637.62
318.81
13,003
13,003
2,784
467.02
233.51
26.17
0.27
-10.66
52.59
0.24
26.15
60.89
1
0
0
0.00
114.78
128.40
17.35
9
0
0
0.00
105.82
126.10
15.41
2
0
0
0.00
98.35
144.55
24.16
2
15
0
0.00
93.38
112.85
21.25
-3
62
0
0.00
127.19
142.49
20.24
Allied Professionals Ins Co. (Orange, CA)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
12,031
0
0
0
0
14,657
0
0
0
0
18,532
0
0
0
0
19,046
0
760
0
0
22,176
0
831
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,845
0
14,876
664
63
652
0
16,256
0
2,459
0
17,116
910
51
839
0
18,918
0
1,781
0
20,313
877
41
883
0
22,115
0
2,441
0
22,247
899
15
996
0
24,157
0
5,783
0
28,790
1,325
0
1,417
0
31,532
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
2,659
1,624
4,283
3,784
403
69
0
601
3,077
1,821
4,898
4,309
396
295
0
653
3,684
2,747
6,431
4,972
688
327
0
653
3,716
2,559
6,275
5,498
194
282
0
559
4,515
3,402
7,917
8,161
900
374
0
1,176
Total Liabilities
9,139
10,551
13,072
12,808
18,529
Occupied Properties
Properties for Sale
Total Real Estate
Other Investments
Surplus Notes
Unassigned Surplus
Capital & Surplus
2008Y
2009Y
2010Y
2011Y
2012Y
0
9,815
0
9,815
0
10,561
0
10,561
0
12,639
0
12,639
0
13,553
0
13,553
0
20,219
0
20,219
-2,731
7,084
482
6,602
-2,049
8,512
525
7,986
-4,276
8,363
663
7,699
-3,939
9,614
526
9,088
-4,853
15,366
2,663
12,703
0
554
0
554
650
0
304
0
537
0
537
695
0
418
0
493
0
493
894
0
607
0
728
0
728
1,329
0
32
0
957
0
957
1,797
0
799
0
507
811
2,015
3,177
0
0
1,410
0
5,192
0
197
615
1,847
4,767
0
0
1,372
0
6,614
0
926
1,533
2,920
3,745
0
0
1,034
0
6,665
0
-187
-155
1,902
4,270
0
0
2,916
0
6,172
0
843
1,642
4,397
6,318
0
0
1,988
0
10,715
394
1
0
0
1,804
562
1,243
369
9
0
0
1,750
553
1,196
344
2
0
0
1,380
440
940
354
2
0
0
3,273
1,038
2,235
384
-3
0
0
2,370
948
1,422
Revenue
Net Premiums Earned
Net Losses Paid
Net LAE Paid
600
0
0
6,167
350
7,117
600
0
0
7,417
350
8,367
600
0
0
8,093
350
9,043
600
0
0
10,400
350
11,350
2,400
0
0
10,253
350
13,003
Income ($000)
All Other Income
Federal Income Tax
Net Income
16,256
18,918
22,115
24,157
31,532
1,803
1,741
1,378
3,271
2,372
Memo: Total Revenue
Memo: Paid Expenses
6,996
3,833
8,364
5,463
8,045
4,640
9,445
5,601
13,084
8,122
2008Y
2009Y
2010Y
2011Y
2012Y
12,131
0
13,736
1,120
17,855
677
17,704
1,343
19,136
2,979
0
0
0
0
0
0
0
0
0
0
0
0
60
0
0
0
0
0
0
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
394
1
0
14,876
0
12,131
0
0
0
0
369
9
0
17,116
0
14,857
0
0
0
0
344
2
0
20,313
0
18,532
0
0
0
0
354
2
15
22,247
0
19,046
0
760
0
0
384
3
-3
62
28,790
0
22,176
0
831
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.27
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
0
Bonds - 77.0%
CMBS Exposure
RMBS Exposure
0.30
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
0
0
0
0
12,031
0
0
0
1,045
3,685
9,926
0
1,370
7,194
9,968
0
2,179
7,094
9,773
0
2,907
7,981
10,990
297
Fair Value
Actual Cost
Par Value
Total
Med Prof Liab - 100.0%
22,362
831
0
23,193
22,866
745
0
23,611
20,740
--20,740
88,144
2,407
0
--
Total Cmbnd A&H - 0.0%
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
1.00
0.00
0.00
80.87
0.00
0.00
0.00
19.13
0.00
NA
0.00
0.00
0.00
4.09
0.39
1.08
0.00
0.00
85.63
0.00
0.00
0.00
14.37
0.00
NA
0.00
0.00
0.00
4.81
0.27
1.04
0.00
0.00
91.23
0.00
0.00
0.00
8.77
0.00
NA
0.00
0.00
0.00
3.97
0.19
1.07
0.00
0.00
85.61
6.69
3.41
0.00
10.97
0.00
NA
0.00
0.00
0.00
3.72
0.06
1.14
0.46
0.00
77.03
6.39
2.89
0.00
20.09
0.00
NA
0.00
0.00
0.00
4.20
0.00
0.00
4.01
91.51
2.42
0.01
4.43
90.47
1.95
0.00
3.99
91.85
1.56
0.00
4.12
92.09
1.47
0.00
4.50
91.30
1.22
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
79.19
9,815
14.55
0.00
13.27
10,561
10.03
0.00
12.08
12,639
21.88
0.00
9.40
13,553
9.27
0.00
17.16
20,219
17.56
Comm'l Auto St - 0.0%
Florida - 7.7%
Washington - 5.8%
Comm'l Multi Prl - 0.0%
Texas - 4.7%
All other - 48.7%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.20
22,176
831
0
23,006
New York - 14.3%
0.10
Carr Value
Common Stocks / C&S
All Other - 0.0%
DPW ($000)
3,809
2,893
1,551
1,171
956
9,839
0.00
LT Bond
Common Stock
Preferred Stock
Total
California - 18.8%
Rank and States
1. California
2. New York
3. Florida
4. Washington
5. Texas
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
20,219
0
0
0
0
0
when
pooling
h an iinter-company
t
i t
Amer Trucking & Transportation (Missoula, MT)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
111 North Higgins Avenue
Fourth Floor
Missoula, MT 59802-4437
MSA: Missoula, MT (Metro)
Business Focus : Commercial Property Focus
Geographic Focus: Regional - Western Quadrant
Total Assets
Total Liabilities
Net Income
Total Revenue
11,680
2,660
9,020
651
4,296
12,964
3,239
9,725
257
2,814
13,854
4,217
9,637
607
3,403
14,354
3,914
10,440
-41
2,842
15,256
4,423
10,834
401
2,507
6,376
3,837
3,795
4,846
1,987
2,323
6,644
3,349
2,921
5,967
2,632
2,429
6,686
2,153
2,082
5,750
154.82
36.19
1.44
6,400
274.39
16.10
0.61
6,088
225.01
25.72
0.79
5,702
256.58
-8.25
0.67
5,552
278.10
6.56
0.49
Credit Ratings
Rating
-A
----
Date
-03/29/13
----
Net Premiums Earned
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Patricia Lorraine Maloney
(406) 523-3908
(406) 523-3935
tmaloney@atticrrg.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Anderson ZurMuehlen & Co. P.C
Turner Consulting Inc.
Kenneth Carl Crippen
-Kenneth Carl Crippen
16,000
2008Y
2009Y
2010Y
2011Y
2012Y
14,000
4.28
8.87
22.73
6.11
70.15
15.56
32.45
85.70
76.73
8.97
0.00
3.57
15.97
9.20
2.23
74.35
32.06
28.99
106.41
92.75
13.66
0.00
3.56
12.16
17.15
4.72
59.05
22.92
10.57
81.98
68.03
13.95
0.00
3.01
13.80
-1.03
-0.32
97.69
30.42
51.02
128.11
113.15
14.96
0.00
2.71
17.40
9.20
2.77
70.32
35.15
-43.27
105.48
87.48
18.00
0.00
12,000
Combined Ratio
25.00
128.1
20.00
106.4
15.00
105.5
85.7
18,000
Total Liabilities
82.0
127.0
100.0
10,000
74.0
78.0
76.0
2010Y
2011Y
2012Y
8,000
6,000
4,000
2,000
0
2008Y
2009Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
20.20
86.54
68.47
127.00
0.00
199.82
216
482
108.08
116.11
5.69
6.36
102.17
19.09
100.00
0.00
295.39
1,226
1,334
162.28
180.53
9.59
24.45
133.58
55.87
74.00
0.00
258.99
3,494
3,800
219.65
224.52
13.83
22.12
126.25
59.00
78.00
0.00
289.41
335
525
109.52
116.58
11.77
27.11
128.98
66.41
76.00
0.00
309.53
-349
243
84.17
75.94
14.90
2010Y
2011Y
2012Y
158
79
69*
0
74
36
3.6
152
67
-21
0
86
2 8*
2.8*
151
49
-18
0
99
2 7*
2.7*
-7
-4
78
0
8
2
9
13
15
76
9
-14
-12
-31
10.00
5.00
Over
Under
0.00
-5.00
2008Y
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
37.70
1.85
5.15
5.04
3.53
6,376
2,662
597
536
60.17
35.23
24.15
45.36
3.91
10.84
6.65
10.67
4,846
1,727
637
-41
41.00
36.88
15.97
48.48
1.45
7.41
7.18
6.88
6,644
1,725
768
428
50.41
31.92
26.75
46.67
-0.57
10.26
6.45
14.28
5,967
2,373
801
-745
44.11
NM
-11.66
113.60
1.14
12.34
9.54
12.13
6,686
1,464
757
-139
32.20
25.66
11.42
2008Y
2009Y
2010Y
2011Y
2012Y
9,600
60.17
0.15
0.00
0
0
15,875
41.00
1.88
0.00
0
0
9,727
50.41
4.84
0.00
0
0
11,467
44.11
9.51
0.00
0
0
12,060
32.20
15.97
0.00
0
0
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
30
25
-10
28*
100
--74
40
--4
20
--11
20
---3
25
--8
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
0.67
3.39
10.99
7.82
6.87
-0.91
3.61
8.34
6.29
3.77
2.41
176.71
242.65
2.35
-6.06
16.91
16.73
16.87
-48.21
-56.69
-60.58
11.30
-24.00
15.03
17.72
15.67
68.55
102.61
136.43
-4.87
37.10
6.64
15.52
8.92
-21.41
NM
NM
-6.35
-10.19
6.31
9.09
7.02
-18.20
NM
NM
-2.63
12.04
4.43
8.97
5.63
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Capital and Surplus
60.2
50.4
44.1
41.0
32.2
2008Y
2009Y
2010Y
2011Y
2012Y
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
219.0
160.6
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
Reserves/ Equity
2.35
20.04
21.51
154.82
15.21
36.95
216.14
11.30
-10.19
24.28
274.39
-11.66
38.87
197.58
-4.87
11.45
-2.52
225.01
12.70
40.09
144.36
-6.35
8.42
2.25
256.58
14.62
34.19
145.68
-2.63
-14.23
-12.16
278.10
-26.76
18.95
125.52
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2,660
NA
NA
NA
NA
3,239
NA
NA
NA
NA
4,217
NA
NA
NA
NA
3,914
3,914
1,219
321.10
160.55
4,423
4,423
1,010
438.03
219.02
-32
-863
0
0.00
133.86
339.06
360.86
-42
636
-250
97.36
71.18
300.22
490.08
-19
453
-100
16.47
94.63
228.51
230.64
107
-249
0
0.00
65.51
266.75
292.98
253
224
0
0.00
49.38
244.95
272.67
Amer Trucking & Transportation (Missoula, MT)
2008Y
2009Y
2010Y
2011Y
2012Y
2,785
0
2,422
0
0
5,772
0
3,244
0
0
7,268
0
3,316
0
0
7,546
0
3,477
0
0
7,301
0
3,982
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,822
0
7,029
3,882
386
383
0
11,680
0
619
0
9,634
2,745
0
586
0
12,964
0
2,356
0
12,941
169
169
576
0
13,854
0
2,309
0
13,333
0
38
984
0
14,354
0
2,937
0
14,220
390
214
433
0
15,256
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
2,760
2,990
5,750
2,572
-27
529
0
196
3,138
3,262
6,400
2,236
962
127
0
0
2,789
3,300
6,088
2,664
580
176
0
129
2,929
2,773
5,702
2,867
1,576
141
0
155
1,785
3,766
5,552
2,939
1,714
171
0
458
Total Liabilities
9,020
9,725
9,637
10,440
10,834
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Total Real Estate
Other Investments
Surplus Notes
Unassigned Surplus
Capital & Surplus
1,996
0
0
664
0
2,660
1,996
0
0
1,243
0
3,239
2,072
0
229
1,917
0
4,217
2,072
0
152
1,690
0
3,914
2,072
0
77
2,273
0
4,423
11,680
12,964
13,854
14,354
15,256
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
340
32
-32
-863
7,029
0
3,582
0
2,422
0
0
317
42
-42
636
9,634
0
6,174
0
3,244
0
0
407
19
-19
453
12,941
0
7,268
0
3,316
0
0
363
107
-249
13,333
0
7,546
0
3,477
0
0
375
253
224
14,220
0
7,301
0
3,982
0
0
0.00
0.00
0.57
NA
0.00
NA
NA
8.10
15.44
1.62
NA
0.00
NA
NA
NM
-39.26
0.93
NA
0.00
NA
NA
2.32
4.47
2.01
NA
0.00
NA
NA
1.35
2.22
3.37
NA
0.00
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
0
6,376
0
6,376
0
4,846
0
4,846
0
6,644
0
6,644
0
5,967
0
5,967
0
6,686
0
6,686
Net Premiums Earned
-2,539
3,837
42
3,795
-2,859
1,987
-336
2,323
-3,295
3,349
428
2,921
-3,335
2,632
203
2,429
-4,533
2,153
71
2,082
Net Losses Paid
Net LAE Paid
0
1,071
0
1,071
-1,560
0
161
0
295
0
295
782
0
378
0
658
0
658
1,378
0
-350
0
1,099
0
1,099
1,660
0
140
0
243
0
243
1,371
0
-1,143
0
2,990
3,151
2,662
597
0
0
536
0
3,259
0
272
650
1,727
637
0
0
-41
0
2,364
0
38
-312
1,725
768
0
0
428
0
2,493
0
-526
-387
2,373
801
0
0
-745
0
3,173
0
993
-150
1,464
757
0
0
-139
0
2,221
Income ($000)
All Other Income
Federal Income Tax
Net Income
340
-32
161
0
1,006
354
651
317
-42
173
0
407
150
257
407
-19
75
0
892
285
607
363
107
50
0
-224
-183
-41
375
253
51
0
539
138
401
Revenue
1,037
449
910
-331
286
Memo: Total Revenue
Memo: Paid Expenses
4,264
-906
2,771
1,488
3,384
2,240
2,949
2,563
2,760
2,240
2008Y
2009Y
2010Y
2011Y
2012Y
2,252
1,309
3,639
2,434
5,358
1,843
5,571
1,824
5,566
1,489
0
0
0
100
0
0
68
0
0
152
0
0
246
0
0
0
0
0
0
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
20
Bonds - 51.3%
CMBS Exposure
1.00
2.00
3.00
4.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
368
948
785
249
0
0
0
0
541
0
0
0
1,359
0
0
0
2,008
0
0
0
1,505
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
LT Bond
Common Stock
Preferred Stock
Total
7,301
3,982
0
11,283
7,846
3,982
0
11,828
7,341
3,580
0
10,921
7,324
--7,324
29,813
11,543
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.39
0.77
0.77
39.62
91.05
34.46
0.00
25.92
0.00
NA
0.00
0.00
0.00
33.24
3.31
1.43
3.09
0.00
59.91
100.13
33.67
0.00
6.42
0.00
NA
0.00
0.00
0.00
21.17
0.00
1.27
1.61
0.00
56.17
78.63
25.63
0.00
18.21
0.00
NA
0.00
0.00
0.00
1.22
1.22
1.28
3.88
0.00
56.60
88.84
26.08
0.00
17.32
0.00
NA
0.00
0.00
0.00
0.00
0.26
1.27
5.57
0.00
51.34
90.02
28.00
0.00
20.65
0.00
NA
0.00
0.00
0.00
2.55
1.40
0.00
3.28
60.17
2.91
0.00
4.52
74.31
2.45
0.00
4.16
93.41
2.94
0.00
6.85
92.88
2.53
0.00
2.84
93.20
2.46
Louisiana - 32.9%
Washington - 28.1%
Montana - 22.3%
Oregon - 12.4%
Fidelity & Surety - 0.0%
Ohio - 4.4%
All other - 0.0%
All Other - 0.0%
DPW ($000)
2,196
1,879
1,489
830
291
0
0.00
RMBS Exposure
Rank and States
1. Louisiana
2. Washington
3. Montana
4. Oregon
5. Ohio
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Comm'l Auto St
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Multi Prl
5. Fidelity & Surety
All Other
DPW ($000)
6,686
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.00
NA
6,376
110.71
0.00
-1.38
4,846
163.99
0.00
-1.01
6,644
-65.77
0.00
-0.55
5,967
169.40
0.00
-0.30
6,686
4.29
when
pooling
h an iinter-company
t
i t
Applied Medico-Legal Solutions (Phoenix, AZ)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
2555 East Camelback Road
Suite 700
Phoenix, AZ 85016-4264
MSA: Phoenix-Mesa-Glendale, AZ (Metro)
Distribution Channel: General Agnt/Managing General Agnt
Total Assets
Total Liabilities
Net Income
Total Revenue
47,230
16,507
30,724
1,623
20,663
59,943
19,036
40,908
1,628
25,985
71,460
20,673
50,787
933
27,665
83,910
22,205
61,705
1,240
32,116
92,319
25,118
67,202
3,732
33,473
Net Premiums Earned
23,013
19,633
18,933
30,001
28,855
24,630
33,162
27,943
25,651
36,078
30,663
28,999
40,753
32,936
30,575
21,017
104.17
22.15
1.19
26,278
93.98
12.22
1.52
34,225
120.78
5.68
1.35
43,422
138.20
6.73
1.38
46,206
152.45
17.55
1.31
Credit Ratings
Rating
-A'
----
Date
-03/12/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Lee M. Milizia
(602) 427-3208
(623) 427-3032
lee_milizia@agl.aon.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Saslow Lufkin & Buggy LLP
Aon Global Risk Consulting
--Richard B. Welch
2008Y
2009Y
2010Y
2011Y
2012Y
4.33
7.20
10.23
3.47
59.80
29.69
44.94
89.48
82.02
7.46
0.00
2.27
3.04
8.72
3.01
68.83
23.40
43.05
92.23
88.67
3.56
0.00
3.40
5.68
4.49
1.39
71.82
28.86
46.84
100.68
94.49
6.18
0.00
4.62
8.84
5.58
1.56
74.30
29.60
43.34
103.90
94.55
9.35
0.00
3.69
7.75
15.01
4.13
63.46
29.47
34.43
92.93
84.59
8.35
0.00
16.00
Combined Ratio
103.9
14.00
100.7
12.00
10.00
8.00
6.00
99.0
93.0
2.00
0.00
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
14.86
26.64
0.00
0.73
2.32
23,013
11,322
5,828
1,783
85.31
41.84
17.00
25.78
17.34
0.00
1.20
4.86
30,001
16,952
6,752
926
96.18
30.23
8.78
24.98
20.60
0.00
1.55
6.71
33,162
18,421
8,064
-835
84.26
37.99
4.26
30.96
20.10
0.00
1.44
8.06
36,078
21,546
9,075
-1,622
84.99
34.46
4.66
29.03
20.26
0.00
1.89
7.33
40,753
19,403
9,707
1,465
80.82
30.88
13.04
99.0
98.0
81.0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
14.69
96.22
27.34
93.00
0.00
128.83
4,605
5,130
134.18
142.88
16.72
10.71
94.13
23.02
99.00
0.00
115.45
9,154
9,878
150.60
153.64
10.88
10.64
97.51
26.15
98.00
0.00
114.84
9,308
8,880
149.54
153.41
5.49
10.37
100.45
28.82
99.00
0.00
113.69
6,370
9,124
127.33
130.13
2.91
10.61
109.08
28.39
81.00
0.00
128.48
6,957
9,201
126.56
130.40
1.52
2010Y
2011Y
2012Y
160
135
-3
0
90
35
3.5
162
138
10
0
93
49
4.9
162
131
7
0
88
38
3.8
7
-5
99
41*
-5
-14
-48
13
-2
81
2
-20
-26
-34
Over
Under
4.00
2008Y
92.9
92.2
89.5
Premiums ($000)
100,000
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
Total Liabilities
2008Y
2009Y
2010Y
2011Y
2012Y
6,109
85.31
21.66
0.00
0
0
4,827
96.18
29.63
0.00
0
0
5,937
84.26
22.17
0.00
0
0
7,039
84.99
15.84
0.00
0
0
11,898
80.82
14.42
0.00
0
0
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
9
25
-10
-6
100
--98
40
--38
20
---5
20
--0
25
---33
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
10.82
15.77
26.92
33.15
19.21
24.15
17.42
21.50
10.02
8.91
8.91
9.37
-25.58
20.80
14.98
74.59
40.58
57.33
46.97
-35.09
0.31
25.03
30.37
41.40
35.31
39.28
-3.16
-48.31
-42.69
30.24
10.53
35.81
22.98
31.26
9.73
26.85
32.92
26.87
8.79
27.21
12.75
22.27
7.41
191.80
200.95
6.41
12.96
20.42
9.33
16.72
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
Capital and Surplus
96.2
85.3
85.0
84.3
30,000
80.8
281.8
255.3
25,000
246.5
217.5
20,000
2008Y
2009Y
2010Y
2011Y
2012Y
187.2
15,000
10,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
20.80
-4.84
-9.47
104.17
-4.11
33.13
127.32
25.03
5.16
-0.44
93.98
3.46
30.26
138.05
30.24
-5.19
0.29
120.78
-3.85
28.93
165.56
26.87
-5.02
-13.54
138.20
-3.58
26.68
195.55
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
5,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
16,507
16,507
2,929
563.59
281.80
19,036
19,036
3,728
510.55
255.28
20,673
20,673
4,752
435.07
217.53
22,205
22,205
5,930
374.45
187.23
25,118
25,118
5,094
493.06
246.53
6.41
-20.38
-25.73
152.45
-14.80
18.99
183.96
-724
-2,414
0
0.00
123.78
186.13
37.01
53
1,020
-3,000
184.31
154.62
214.90
25.36
325
1,999
-3,949
423.27
134.55
245.67
28.72
397
630
-2,986
240.79
137.92
277.89
31.70
1,036
1,397
-4,769
127.81
132.49
267.54
47.37
Applied Medico-Legal Solutions (Phoenix, AZ)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
23,975
14
3,827
0
0
32,158
0
4,346
0
0
40,799
0
5,102
0
0
45,941
0
9,672
0
0
48,295
0
17,297
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
4,513
381
32,709
6,451
0
8,071
0
47,230
0
4,382
26
40,912
8,062
0
10,970
0
59,943
0
5,406
9
51,316
7,907
163
12,073
0
71,460
0
6,400
-23
61,990
9,011
286
12,624
0
83,910
0
7,131
0
72,723
8,705
248
10,643
0
92,319
Net Losses Paid
Net LAE Paid
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
17,773
3,244
21,017
9,115
0
323
0
268
21,018
5,260
26,278
13,339
0
677
0
613
28,018
6,207
34,225
15,632
0
590
0
341
35,210
8,212
43,422
17,296
0
444
0
543
37,034
9,172
46,206
19,657
0
543
0
796
Total Liabilities
30,724
40,908
50,787
61,705
67,202
Occupied Properties
Properties for Sale
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
23,013
0
23,013
0
30,001
0
30,001
0
33,162
0
33,162
0
36,078
0
36,078
0
40,753
0
40,753
Net Premiums Earned
-3,380
19,633
700
18,933
-1,147
28,855
4,224
24,630
-5,218
27,943
2,293
25,651
-5,416
30,663
1,664
28,999
-7,817
32,936
2,361
30,575
0
4,882
0
4,882
2,820
0
3,626
0
7,357
0
7,357
4,334
0
3,245
0
5,014
0
5,014
5,461
0
7,000
0
5,376
0
5,376
6,972
0
7,192
0
8,702
0
8,702
7,916
0
1,824
0
-7
3,619
11,322
5,828
0
0
1,783
0
17,150
0
2,016
5,261
16,952
6,752
0
0
926
0
23,705
0
946
7,946
18,421
8,064
0
0
-835
0
26,486
0
2,006
9,198
21,546
9,075
0
0
-1,622
0
30,621
0
960
2,784
19,403
9,707
0
0
1,465
0
29,110
1,413
-724
317
0
2,790
1,167
1,623
876
53
478
0
2,333
705
1,628
1,586
325
428
0
1,504
571
933
2,711
397
343
63
1,892
652
1,240
2,552
1,036
288
58
5,399
1,667
3,732
Surplus Notes
Unassigned Surplus
Capital & Surplus
12,943
0
0
7,896
-4,333
16,507
16,262
0
0
6,523
-3,750
19,036
19,071
0
0
3,920
-2,318
20,673
21,566
0
0
2,446
-1,806
22,205
24,925
0
0
1,408
-1,215
25,118
Income ($000)
All Other Income
Federal Income Tax
Net Income
47,230
59,943
71,460
83,910
92,319
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
1,413
724
-724
-2,414
32,709
0
24,184
14
3,827
0
0
876
53
1,020
40,912
0
32,158
0
4,346
0
0
1,586
325
1,999
51,316
0
42,826
0
5,102
0
0
2,711
397
630
61,990
0
50,141
0
9,672
0
0
2,552
1 036
1,036
1,397
72,723
0
53,195
0
17,297
0
0
0.00
0.00
12.24
NA
0.00
NA
NA
0.00
0.00
7.40
NA
0.00
NA
NA
0.00
0.00
8.91
NA
0.00
NA
NA
0.00
0.00
8.43
NA
0.00
NA
NA
0.00
0.00
8.12
NA
0.00
NA
NA
3,513
2,280
1,179
1,495
4,363
Memo: Total Revenue
Memo: Paid Expenses
19,939
8,825
26,038
11,206
27,990
13,644
32,513
15,677
34,509
17,890
2008Y
2009Y
2010Y
2011Y
2012Y
19,438
1,785
27,985
1,792
35,318
3,694
40,925
4,988
41,515
7,360
320
2,636
0
0
2,380
0
0
3,815
0
0
4,227
0
0
4,321
0
0
0
0
0
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
4
Bonds - 66.4%
CMBS Exposure
RMBS Exposure
5.00
10.00
15.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
0
5,352
2,679
2,036
9,217
0
0
0
12,151
0
0
0
1,004
2,410
9,728
0
1,460
2,001
11,572
0
1,710
1,121
12,630
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
48,295
17,297
0
65,592
48,295
17,297
0
65,592
46,890
15,562
0
62,452
45,302
--45,302
188,782
50,156
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
1.43
17.94
0.02
73.30
23.18
11.70
0.08
13.80
0.00
NA
0.00
0.00
1.16
13.66
0.00
1.28
12.51
0.00
78.60
22.83
10.62
0.00
10.71
0.00
NA
0.00
0.00
0.06
13.45
0.00
1.35
18.45
0.00
79.50
24.68
9.94
0.00
10.54
0.00
NA
0.00
0.00
0.02
11.07
0.23
1.35
19.04
0.00
74.11
43.56
15.60
0.00
10.32
0.00
NA
0.00
0.00
-0.04
10.74
0.34
1.38
17.20
0.00
66.41
68.86
23.79
0.00
9.81
0.00
NA
0.00
0.00
0.00
9.43
0.27
0.00
17.09
69.25
2.99
0.00
18.30
68.25
1.46
0.00
16.89
71.81
2.22
0.00
15.04
73.88
3.23
0.00
11.53
78.77
2.76
2008Y
2009Y
2010Y
2011Y
2012Y
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.00
66.02
23,013
47.79
0.01
30.01
30,001
37.00
0.01
23.19
33,162
47.43
0.01
15.02
36,078
43.84
0.01
15.28
40,753
38.84
New York - 40.2%
Florida - 14.2%
Arizona - 9.3%
Connecticut - 7.5%
Texas - 6.7%
All other - 22.1%
All Other - 0.0%
DPW ($000)
16,401
5,775
3,789
3,057
2,721
9,010
0.00
LT Bond
Common Stock
Preferred Stock
Total
Common Stocks / C&S
Rank and States
1. New York
2. Florida
3. Arizona
4. Connecticut
5. Texas
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
40,753
0
0
0
0
0
when
pooling
h an iinter-company
t
i t
CARE RRG Inc. (Washington, DC)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
2233 Wisconsin Avenue, NW
Suite 310
Washington, DC 20007-4104
MSA: Washington-Arlington-Alexandria, DC-VA-MD-WV
(Metro)
Geographic Focus: Regional - Southern Quadrant
Distribution Channel: Broker, Independent Agency
Total Assets
Total Liabilities
Net Income
Total Revenue
37,544
4,303
33,241
59
2,620
35,604
4,154
31,451
346
1,626
33,340
4,307
29,033
155
1,356
11,784
4,802
6,981
535
1,249
13,631
4,678
8,952
87
3,094
9,181
1,836
2,406
6,928
1,386
1,526
6,124
1,225
1,287
4,802
960
1,121
6,186
5,084
2,955
25,816
1,051.93
2.05
0.43
24,588
1,629.34
12.32
0.33
23,749
1,892.51
6.80
0.28
4,323
631.45
16.70
0.20
5,570
159.94
2.72
1.09
Credit Ratings
Rating
-A
----
Date
-03/06/13
----
Net Premiums Earned
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Charles Halstead-Johnson
(802) 479-7801
(802) 223-3911
cjohnson@riskservcos.com
Total Assets
Shores Tagman Butler & Co P.A.
Milliman Inc.
--Daniel L. Hafendorfer
35,000
2008Y
2009Y
2010Y
2011Y
2012Y
30,000
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2.00
11.63
1.36
0.15
73.92
40.92
56.77
114.84
105.96
8.87
0.00
1.03
7.18
8.34
0.92
38.15
38.38
14.73
76.53
70.00
6.52
0.00
0.67
5.59
3.64
0.44
56.80
27.33
36.27
84.13
78.81
5.32
0.00
1.36
13.28
11.79
3.73
30.03
16.11
5.12
46.15
34.77
11.37
0.00
1.38
2.74
1.81
0.70
70.06
17.59
30.60
87.65
82.93
4.72
0.00
25,000
Combined Ratio
14.00
12.00
114.8
10.00
8.00
87.6
84.1
76.5
343.0
310.0
46.1
15,000
10,000
5,000
0.00
2008Y
2009Y
Retention Ratio
Effective Tax Rate
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
17.15
7.00
0.00
1.49
32.42
9,181
1,779
751
-124
20.00
34.00
3.43
23.42
-32.12
0.00
2.55
67.95
6,928
582
532
412
20.00
32.32
31.48
20.54
-21.60
0.00
1.88
47.05
6,124
731
335
221
20.00
46.51
21.37
24.91
-73.45
0.00
2.92
86.65
4,802
337
155
630
20.00
29.57
60.64
39.46
1.38
0.00
0.42
15.80
6,186
2,070
894
-9
82.18
30.96
4.20
2008Y
2009Y
2010Y
2011Y
2012Y
23,978
20.00
0.00
0.00
0
0
21,443
20.00
0.00
0.00
0
0
21,894
20.00
0.00
0.00
0
0
19,091
20.00
0.00
0.00
0
0
14,334
82.18
0.00
0.00
0
0
Premiums ($000)
72.0
78.0
2011Y
2012Y
0
2008Y
2009Y
2010Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
18.45
29.47
142.55
343.00
0.00
112.03
-90
-189
95.10
116.90
3.71
23.52
39.08
178.11
310.00
0.00
112.22
600
948
172.78
143.44
4.90
26.08
38.41
175.78
306.00
0.00
116.30
-416
-574
66.91
90.37
5.69
35.26
138.48
51.26
72.00
0.00
598.23
252
285
126.15
138.45
20.30
37.90
127.48
72.53
78.00
0.00
314.63
2,132
1,923
201.70
218.69
16.64
2010Y
2011Y
2012Y
142
28
-12
12
74
0 7*
0.7*
100
20
-22
12
59
1 3*
1.3*
132
109
429*
6
70
1 3*
1.3*
12
12
72
8
-18
-31
296*
-3
-3
78
10
-9
-26
546*
Over
Under
2.00
306.0
20,000
6.00
4.00
40,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
4
25
-10
4
100
--306*
40
--15
20
---2
20
---11
25
---154
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
-4.12
-4.79
-5.17
-5.38
-6.36
-7.69
-64.66
-75.95
15.67
28.23
-38.90
-90.49
-90.51
9.95
-38.90
93.53
43.10
82.35
-24.54
470.01
484.54
-4.76
-24.54
67.73
32.26
60.00
-11.60
-43.38
-55.25
-3.41
-11.60
47.06
13.50
38.65
-21.59
161.30
244.90
-81.80
-21.59
-25.42
5.81
-19.04
429.34
-82.83
-83.82
28.84
28.82
-23.83
1.97
-19.03
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Capital and Surplus
82.2
6,000
20.0
20.0
20.0
20.0
5,000
250.7
220.6
4,000
2008Y
2009Y
2010Y
2011Y
2012Y
3,000
146.9
156.6
166.1
2008Y
2009Y
2010Y
2,000
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Reserves/ Equity
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
9.95
6.39
5.75
1,051.93
11.26
6.47
599.88
-4.76
-8.71
-2.22
1,629.34
-24.57
7.13
591.95
-3.41
-2.29
-11.20
1,892.51
-7.38
6.85
551.40
-81.80
-18.27
-30.96
631.45
-70.20
29.78
90.02
1,000
0
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
4,303
4,303
1,465
293.80
146.90
4,154
4,154
1,326
313.20
156.60
4,307
4,307
1,296
332.29
166.14
4,802
4,802
1,089
441.12
220.56
4,678
4,678
933
501.46
250.73
28.84
-9.02
-25.58
159.94
-14.65
37.86
119.07
0
0
0
0.00
42.01
772.42
557.18
0
4
0
0.00
33.36
757.19
516.25
0
-2
0
0.00
28.76
674.08
508.34
2
-39
0
0.00
21.18
145.38
397.54
-5
89
-300
346.76
106.17
191.37
306.41
CARE RRG Inc. (Washington, DC)
2008Y
2009Y
2010Y
2011Y
2012Y
100
0
3,456
0
0
2,717
0
0
0
0
1,905
0
0
0
0
6,259
0
947
0
0
6,459
0
1,560
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
6,135
0
9,690
883
22,201
4,770
0
37,544
0
7,398
0
10,115
1,121
20,502
3,866
0
35,604
0
7,571
0
9,475
637
19,462
3,764
0
33,340
0
2,462
0
9,667
371
850
895
0
11,784
0
3,393
0
11,412
454
490
1,274
0
13,631
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
16,958
8,858
25,816
4,238
1,611
927
0
649
15,943
8,644
24,588
3,535
1,888
748
0
692
15,987
7,762
23,749
3,223
1,021
520
0
519
2,965
1,359
4,323
484
1,010
619
0
546
3,419
2,151
5,570
2,613
238
531
0
0
Total Liabilities
33,241
31,451
29,033
6,981
8,952
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Surplus Notes
Unassigned Surplus
Capital & Surplus
1,000
0
0
1,393
1,911
4,303
1,000
0
0
1,743
1,411
4,154
1,000
0
0
1,896
1,411
4,307
1,000
0
0
2,392
1,411
4,802
1,000
0
0
2,268
1,411
4,678
37,544
35,604
33,340
11,784
13,631
Revenue
Net Premiums Earned
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
214
0
0
9,690
0
205
0
3,456
0
0
100
0
4
10,115
0
4,892
0
0
0
0
69
0
-2
9,475
0
3,580
0
0
0
0
128
2
-39
9,667
0
6,259
0
947
0
0
139
5
-5
89
11,412
0
6,459
0
1,560
0
0
48.74
2.32
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
-7,345
1,836
-570
2,406
-5,542
1,386
-141
1,526
-4,899
1,225
-62
1,287
-3,841
960
-161
1,121
-1,102
5,084
2,129
2,955
0
618
0
618
475
0
748
0
482
0
482
442
0
-257
0
443
0
443
439
0
24
0
287
0
287
470
0
-229
0
449
0
449
374
0
455
0
-63
685
1,779
751
0
0
-124
0
2,530
0
-84
-341
582
532
0
0
412
0
1,114
0
-174
-151
731
335
0
0
221
0
1,066
0
-191
-420
337
155
0
0
630
0
491
0
792
1,247
2,070
894
0
0
-9
0
2,964
214
0
0
0
90
31
59
100
0
0
0
512
165
346
69
0
0
0
290
135
155
128
2
0
0
759
224
535
139
-5
0
0
125
39
87
90
512
290
757
130
2,620
1,075
1,626
1,155
1,356
1,166
1,250
87
3,090
1,125
2008Y
2009Y
2010Y
2011Y
2012Y
205
0
4,892
0
3,580
0
6,259
0
6,459
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Class 6
0
Bonds - 56.6%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
1,803
1,360
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
6,459
1,560
0
8,019
6,459
1,560
0
8,019
6,419
1,538
0
7,956
6,352
--6,352
25,689
4,657
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
1.00
0.00
0.00
1.03
80.30
35.66
0.00
63.31
0.00
NA
0.00
0.00
0.00
2.35
59.13
1.00
0.00
0.00
26.86
0.00
0.00
0.00
73.14
0.00
NA
0.00
0.00
0.00
3.15
57.58
1.00
0.00
0.00
20.10
0.00
0.00
0.00
79.90
0.00
NA
0.00
0.00
0.00
1.91
58.38
1.00
0.00
0.00
64.74
19.73
9.80
0.00
25.46
0.00
NA
0.00
0.00
0.00
3.15
7.21
1.00
0.00
0.00
56.60
33.34
13.67
0.00
29.73
0.00
NA
0.00
0.00
0.00
3.33
3.59
0.00
12.71
25.81
0.57
0.00
10.86
28.41
0.28
0.00
11.29
28.42
0.21
0.00
7.60
82.04
1.08
0.00
9.35
83.73
1.02
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
9,181
44.92
0.00
0.49
6,928
18.28
0.00
-13.99
6,124
35.09
0.00
-22.20
4,802
4.82
0.00
-16.27
6,186
-17.54
New York - 20.6%
California - 16.7%
Texas - 8.9%
Kentucky - 7.8%
All other - 25.0%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0
6,186
0
6,186
LT Bond
Common Stock
Preferred Stock
Total
Florida - 21.0%
2012Y
0
4,802
0
4,802
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Common Stocks / C&S
All Other - 0.0%
DPW ($000)
1,297
1,276
1,032
553
480
1,547
2011Y
0
6,124
0
6,124
Rank and States
1. Florida
2. New York
3. California
4. Texas
5. Kentucky
All Other
2010Y
0
6,928
0
6,928
Income ($000)
All Other Income
Federal Income Tax
Net Income
2009Y
0
9,181
0
9,181
Net Losses Paid
Net LAE Paid
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
6,186
0
0
0
0
0
when
pooling
h an iinter-company
t
i t
Centurion Med Liab Prtctv RRG (Phoenix, AZ)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
2700 North Third Street
Suite 3050
NAIC Ownership Structure: Stock Company
Total Assets
Total Liabilities
Net Income
Total Revenue
8,492
3,435
5,058
146
2,781
10,547
4,973
5,574
1,420
3,816
12,979
5,653
7,325
505
4,311
14,707
6,096
8,611
816
4,055
15,755
8,402
7,353
2,924
4,043
Net Premiums Earned
3,172
3,038
2,592
3,825
3,712
3,599
4,399
4,337
4,082
4,099
3,538
3,778
3,751
3,636
3,782
3,315
125.24
24.93
0.88
3,507
107.01
57.29
0.75
5,457
106.54
12.10
0.77
6,516
162.36
19.58
0.58
4,717
176.20
58.82
0.43
Credit Ratings
Rating
-A
----
Date
-03/08/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Gemma Agustin Tuanqui
(800) 226-0793
(941) 906-7538
gtuanqui@pboa.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Cas Actuarial Consultants Inc.
--Vicente M. Juan
18,000
16,000
2008Y
2009Y
2010Y
2011Y
2012Y
14,000
3.44
6.24
4.38
1.81
51.33
20.37
27.56
71.71
64.40
7.31
0.00
3.14
5.85
36.99
14.89
23.96
20.32
23.50
44.28
38.26
6.03
0.00
2.58
5.27
9.27
4.34
69.50
18.77
52.26
88.27
82.67
5.60
0.00
2.56
7.81
13.83
5.84
53.23
25.12
42.52
78.35
71.04
7.32
0.00
2.07
7.19
44.01
18.96
-18.79
23.27
-26.22
4.48
-2.43
6.92
0.00
12,000
50.00
45.00
40.00
35.00
30.00
25.00
20.00
15.00
10.00
5.00
0.00
Combined Ratio
88.3
78.4
71.7
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
23.77
8.18
0.00
2.55
9.64
3,172
1,331
619
642
95.77
66.31
29.91
0.46
9.21
3.64
1.82
5.65
3,825
862
754
1,982
97.04
33.80
57.63
17.24
9.21
3.20
1.58
4.77
4,399
2,837
814
431
98.59
27.10
15.30
10.72
11.51
4.65
2.17
6.78
4,099
2,011
889
878
86.32
31.41
28.48
7.43
10.35
5.12
1.46
6.33
3,751
-710
846
3,646
96.95
30.21
96.65
2008Y
2009Y
2010Y
2011Y
2012Y
128
95.77
25.00
0.00
0
0
200
97.04
25.00
0.00
0
0
293
98.59
24.91
0.00
0
0
332
86.32
25.60
0.00
0
0
402
96.95
25.37
0.00
0
0
74.0
69.0
73.0
56.0
10,000
8,000
6,000
4,000
2,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
19.47
116.17
28.68
85.00
0.00
125.75
1,311
1,052
184.33
213.74
9.83
28.46
144.07
31.89
69.00
0.00
162.02
2,176
2,068
243.87
265.76
22.50
19.31
134.53
25.02
74.00
0.00
138.27
2,358
1,453
238.61
305.93
23.53
18.56
136.06
26.22
73.00
0.00
148.69
2,201
2,232
216.78
228.98
23.77
71.68
178.66
62.73
56.00
0.00
219.82
1,637
1,713
181.16
192.35
36.83
2010Y
2011Y
2012Y
78
77
17
0
62
2 6*
2.6*
67
58
-18
0
77
2 6*
2.6*
45
43
3
0
34
2 1*
2.1*
8
8
73
3
-11
-35
-55
38
38*
56
1
-40
-42
-15
Over
Under
2008Y
85.0
44.3
4.5
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
14
25
-10
14
100
--74
40
--4
20
---19
20
---53
25
---50
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
12.60
18.96
24.19
10.20
23.06
31.43
13.31
17.55
7.13
-14.61
34.05
5.81
-70.32
17.04
39.98
111.68
8.22
32.49
22.18
164.34
871.34
5.80
20.58
85.77
14.71
30.79
16.85
-70.01
-64.42
55.58
15.01
29.87
17.04
23.28
-18.42
75.07
61.44
19.40
-6.83
18.91
17.36
18.25
2.78
238.43
258.49
-27.60
-8.49
11.58
20.62
15.87
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
95.8
97.0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
17.04
-52.34
-55.78
125.24
-66.44
41.59
96.52
5.80
-39.16
-40.91
107.01
-37.37
27.09
70.52
55.58
-18.58
-53.01
106.54
-22.64
22.54
96.52
19.40
-11.18
-34.94
162.36
-16.73
25.24
106.89
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Capital and Surplus
96.9
86.3
98.6
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
920.3
631.1
469.0
2008Y
466.5
410.5
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
3,435
3,435
366
938.02
469.01
4,973
4,973
394
1,262.29
631.15
5,653
5,653
689
821.04
410.52
6,096
6,096
653
933.09
466.54
8,402
8,402
457
1,840.50
920.25
-27.60
-40.44
-41.82
176.20
-65.18
31.19
56.14
-398
-2
0
0.00
91.05
147.26
3.73
-54
118
0
0.00
96.69
112.08
4.02
33
175
0
0.00
79.58
129.57
5.18
35
47
-420
51.49
60.01
141.27
5.45
282
-127
-490
16.76
54.74
87.51
4.78
Centurion Med Liab Prtctv RRG (Phoenix, AZ)
2008Y
2009Y
2010Y
2011Y
2012Y
4,093
0
797
0
0
5,407
0
1,036
0
0
6,415
0
1,949
0
0
7,997
0
2,120
0
0
7,866
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
985
0
5,876
177
0
2,439
0
8,492
0
1,586
0
8,030
105
0
2,412
0
10,547
0
1,414
0
9,779
228
0
2,972
0
12,979
0
1,598
0
11,716
183
0
2,808
0
14,707
0
5,271
0
13,136
84
0
2,534
0
15,755
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
1,756
1,559
3,315
1,459
2
225
0
57
2,370
1,137
3,507
1,572
-93
157
0
430
4,133
1,323
5,457
1,827
-245
250
0
37
5,343
1,172
6,516
1,587
259
214
0
35
3,865
852
4,717
1,442
154
165
0
875
Total Liabilities
5,058
5,574
7,325
8,611
7,353
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Surplus Notes
Unassigned Surplus
Capital & Surplus
600
0
0
835
2,000
3,435
600
0
0
2,373
2,000
4,973
600
0
0
3,053
2,000
5,653
600
0
0
3,496
2,000
6,096
600
0
0
5,802
2,000
8,402
8,492
10,547
12,979
14,707
15,755
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
3,172
0
3,172
0
3,825
0
3,825
0
4,399
0
4,399
0
4,099
0
4,099
0
3,751
0
3,751
Net Premiums Earned
-134
3,038
446
2,592
-113
3,712
113
3,599
-62
4,337
255
4,082
-561
3,538
-240
3,778
-115
3,636
-145
3,782
0
423
0
423
425
0
292
0
232
0
232
438
0
614
0
370
0
370
517
0
1,763
0
396
0
396
556
0
1,210
0
487
0
487
601
0
-1,478
0
191
483
1,331
619
0
0
642
0
1,949
0
-422
192
862
754
0
0
1,982
0
1,617
0
186
1,949
2,837
814
0
0
431
0
3,651
0
-151
1,059
2,011
889
0
0
878
0
2,900
0
-320
-1,798
-710
846
0
0
3,646
0
136
Income ($000)
All Other Income
Federal Income Tax
Net Income
189
-398
0
0
434
288
146
217
-54
0
0
2,145
725
1,420
228
33
0
0
693
188
505
276
35
0
0
1,189
374
816
262
282
0
0
4,190
1,266
2,924
Net Losses Paid
Net LAE Paid
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
189
398
-398
-2
5,876
0
4,093
0
797
0
0
217
54
-54
118
8,030
0
5,407
0
1,036
0
0
228
33
175
9,779
0
6,492
0
1,949
0
0
276
35
47
11,716
0
7,997
0
2,120
0
0
262
282
-127
13,136
0
7,866
0
0
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
2012Y
4,093
0
5,407
0
6,492
0
7,997
0
7,866
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
637
698
774
597
685
0
0
0
0
0
1,919
0
0
1,537
0
0
0
2,424
0
0
0
0
0
0
0
0
783
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
7,866
0
0
7,866
7,866
0
0
7,866
7,475
0
0
7,475
7,218
--7,218
30,425
0
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
1.00
0.00
0.00
69.67
23.22
13.57
0.00
16.76
0.00
NA
0.00
0.00
0.00
2.09
0.00
1.00
0.00
0.00
67.34
20.84
12.91
0.00
19.75
0.00
NA
0.00
0.00
0.00
1.00
0.00
1.00
0.00
0.00
65.61
34.48
19.93
0.00
14.46
0.00
NA
0.00
0.00
0.00
1.76
0.00
1.00
0.00
0.00
68.26
34.79
18.10
0.00
13.64
0.00
NA
0.00
0.00
0.00
1.24
0.00
1.00
0.00
0.00
59.88
0.00
0.00
0.00
40.12
0.00
NA
0.00
0.00
0.00
0.54
0.00
0.00
28.72
69.19
2.23
0.00
22.87
76.13
2.06
0.00
22.90
75.34
1.76
0.00
19.09
79.66
1.88
0.00
16.09
83.38
1.66
2009Y
2010Y
2011Y
2012Y
0.00
NA
3,172
27.99
0.00
76.29
3,825
22.23
0.00
18.13
4,399
50.76
0.00
10.26
4,099
48.23
0.00
10.60
3,751
-25.22
All Other - 0.0%
DPW ($000)
1,972
1,661
119
0
0
0
2011Y
LT Bond
Common Stock
Preferred Stock
Total
Rank and States
1. Texas
2. Arizona
3. Michigan
4. Alaska
5. Alabama
All Other
2010Y
2008Y
All other - 0.0%
2009Y
Common Stocks / C&S
Alabama - 0.0%
2008Y
Alaska - 0.0%
3,908
4,325
1,584
Bonds - 59.9%
Michigan - 3.2%
1,155
4,089
1,539
0
RMBS Exposure
Arizona - 44.3%
660
4,344
1,372
CMBS Exposure
Texas - 52.6%
2,199
3,762
1,299
Class 6
832
2,383
1,156
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
3,751
0
0
0
0
0
when
pooling
h an iinter-company
t
i t
Charitable Svc Prvdrs Recpl (Phoenix, AZ)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
15255 North 40th Street
Suite 109
Total Assets
Total Liabilities
Net Income
Total Revenue
1,948
1,616
332
274
819
2,458
2,117
342
714
1,124
3,257
2,899
358
683
1,116
3,521
3,244
277
579
985
3,779
3,430
349
573
958
Net Premiums Earned
1,334
773
773
1,349
1,093
1,093
1,327
1,048
1,048
1,338
916
916
1,088
898
898
252
35.64
24.90
0.48
314
23.27
37.50
0.52
325
32.07
26.87
0.36
206
46.71
18.55
0.28
210
26.78
16.34
0.26
Credit Ratings
Rating
-A
----
Date
-03/12/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Richard P. Marshall
(602) 952-9532
(602) 952-8789
Dick.Marshall@rqih.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Brown Smith Wallace LLC
Milliman Inc.
David Barger Ellis
Matthew Luger
David Barger Ellis
3,500
2008Y
2009Y
2010Y
2011Y
2012Y
3,000
2.14
5.85
18.35
11.58
11.48
46.28
-4.15
57.76
51.91
5.85
0.00
1.29
2.91
38.20
27.15
9.68
29.11
9.30
38.79
35.89
2.91
0.00
2.19
6.42
27.39
20.65
5.17
37.30
0.96
42.47
36.05
6.42
0.00
1.92
7.53
20.01
15.40
15.01
33.99
9.20
49.00
41.47
7.53
0.00
1.65
6.79
17.65
14.51
4.06
43.58
1.36
47.64
40.85
6.79
0.00
2,500
45.00
40.00
35.00
30.00
25.00
20.00
15.00
10.00
5.00
0.00
Combined Ratio
57.8
49.0
47.6
42.5
38.8
18.0
15.0
12.0
2,000
10.0
8.0
1,500
1,000
500
0
2008Y
2009Y
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
15.63
0.00
0.00
2.05
44.23
1,334
89
358
327
57.99
0.00
45.43
0.38
0.00
0.00
1.70
27.41
1,349
106
318
669
81.00
0.00
62.30
4.22
0.00
0.00
5.35
31.94
1,327
54
391
603
78.98
0.00
60.09
5.81
0.00
0.00
1.72
32.27
1,338
138
311
467
68.49
0.00
54.43
2.69
-0.13
0.00
1.57
42.14
1,088
36
391
470
82.50
3.38
55.39
2008Y
2009Y
2010Y
2011Y
2012Y
159
57.99
0.00
0.00
0
0
132
81.00
0.00
0.00
0
0
120
78.98
0.00
0.00
0
0
148
68.49
0.00
0.00
0
0
107
82.50
0.00
0.00
0
0
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
96.30
584.25
19.76
18.00
0.00
773.49
314
362
167.68
167.68
52.91
55.38
664.46
8.93
15.00
0.00
764.50
572
632
262.09
254.38
72.72
41.13
836.86
5.08
12.00
0.00
958.58
559
648
228.17
228.17
78.90
69.80
NM
5.95
8.00
0.00
1,714.21
538
651
196.59
196.59
82.80
49.44
990.34
5.03
10.00
0.00
1,696.73
245
333
155.89
160.25
82.06
2010Y
2011Y
2012Y
46
36
-4
0
36
2 6*
2.6*
41
28
-13
0
39
2 2*
2.2*
32
26
-2
0
41
1 8*
1.8*
12
12
8
0
-1
-4
1
6
6
10
0
-6
-2
-2
Over
Under
2008Y
4,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
37
25
-10
37*
100
--12
40
--0
20
---7
20
---13
25
---7
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
15.02
-6.74
26.22
2.99
32.46
4.81
8.11
-22.73
7.35
26.18
-9.66
4.81
-24.62
-18.22
-3.41
-28.74
30.22
1.32
41.28
88.34
160.41
24.81
1.14
-23.30
30.38
5.87
-4.04
-4.28
-4.24
3.48
-1.59
-6.28
40.23
25.90
-12.59
-20.01
-15.34
-36.70
0.80
1.14
27.57
23.58
-2.05
-1.01
-0.89
2.07
-18.69
-0.37
20.72
17.42
1,600
1,400
1,200
1,000
800
600
400
200
0
81.0
Capital and Surplus
82.5
79.0
68.5
58.0
2008Y
2009Y
2010Y
2011Y
2012Y
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
1,242.7
958.9
939.3
2009Y
2010Y
592.9
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
Reserves/ Equity
-18.22
-11.14
0.52
35.64
-19.27
53.86
15.57
24.81
-12.68
-12.03
23.27
-18.76
40.38
14.84
3.48
-6.76
-12.68
32.07
-13.64
43.17
11.21
-36.70
-0.93
-3.87
46.71
-2.95
65.78
6.34
2.07
-5.52
-2.13
26.78
-19.94
57.89
6.12
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
2008Y
1,034.7
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
1,616
1,616
136
1,185.73
592.87
2,117
2,117
110
1,917.71
958.85
2,899
2,899
154
1,878.52
939.26
3,244
3,244
131
2,485.35
1,242.68
3,430
3,430
166
2,069.33
1,034.66
-98
3
0
0.00
51.78
20.52
9.84
13
44
0
0.00
58.49
16.13
6.24
13
98
0
0.00
42.02
12.35
4.14
42
57
-290
50.10
31.70
8.53
4.56
63
48
-324
56.57
27.62
10.17
3.12
Charitable Svc Prvdrs Recpl (Phoenix, AZ)
2008Y
2009Y
2010Y
2011Y
2012Y
1,265
0
203
0
0
1,737
0
344
0
0
2,386
0
462
0
0
2,512
0
674
0
0
2,605
0
679
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
319
0
1,788
0
0
160
0
1,948
0
189
0
2,269
0
162
27
0
2,458
0
147
0
2,996
0
215
46
0
3,257
0
193
0
3,379
0
56
86
0
3,521
0
173
0
3,456
0
250
73
0
3,779
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
148
104
252
0
5
17
0
58
237
77
314
0
0
25
0
2
246
79
325
0
0
23
0
10
135
70
206
0
0
53
0
17
147
63
210
0
0
19
0
120
Total Liabilities
332
342
358
277
349
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Total Real Estate
Other Investments
2008Y
2009Y
2010Y
2011Y
2012Y
0
1,334
0
1,334
0
1,349
0
1,349
0
1,327
0
1,327
0
1,338
0
1,338
0
1,088
0
1,088
-560
773
0
773
-256
1,093
0
1,093
-279
1,048
0
1,048
-422
916
0
916
-190
898
0
898
Net Losses Paid
Net LAE Paid
0
55
0
55
89
0
-87
0
12
0
12
31
0
89
0
1
0
1
43
0
9
0
195
0
195
62
0
-111
0
1
0
1
31
0
11
0
31
-56
89
358
0
0
327
0
447
0
-27
62
106
318
0
0
669
0
424
0
1
11
54
391
0
0
603
0
445
0
-8
-119
138
311
0
0
467
0
449
0
-7
4
36
391
0
0
470
0
428
45
-98
0
0
274
0
274
32
13
0
0
714
0
714
67
13
0
0
683
0
683
69
42
0
0
579
0
579
61
63
0
0
593
20
573
Revenue
Net Premiums Earned
Surplus Notes
Unassigned Surplus
Capital & Surplus
0
0
381
1,031
204
1,616
0
0
125
1,788
204
2,117
0
0
125
2,570
204
2,899
0
0
125
2,915
204
3,244
0
0
125
3,101
204
3,430
Income ($000)
All Other Income
Federal Income Tax
Net Income
1,948
2,458
3,257
3,521
3,779
372
700
670
536
531
Memo: Total Revenue
Memo: Paid Expenses
721
468
1,137
343
1,129
436
1,028
343
1,021
458
2008Y
2009Y
2010Y
2011Y
2012Y
1,415
0
1,737
0
2,334
52
2,455
57
2,463
142
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
45
98
-98
3
1,788
0
1,415
0
203
0
0
32
13
44
2,269
0
1,737
0
344
0
0
67
13
98
2,996
0
2,386
0
462
0
0
69
42
57
3,379
0
2,512
0
674
0
0
61
63
48
3,456
0
2,605
0
679
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
0
Bonds - 75.4%
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
RMBS Exposure
0
0
0
537
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
237
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
2,605
679
0
3,284
2,605
679
0
3,284
2,488
599
0
3,087
2,314
--2,314
10,011
1,957
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.00
0.00
0.00
70.78
12.56
11.36
0.00
17.86
0.00
NA
0.00
0.00
0.00
0.00
0.00
1.00
0.00
0.00
76.53
16.23
15.14
0.00
8.33
0.00
NA
0.00
0.00
0.00
0.00
6.60
1.02
0.00
0.00
79.65
15.95
15.44
0.00
4.91
0.00
NA
0.00
0.00
0.00
0.00
6.60
1.02
0.00
0.00
74.33
20.79
19.96
0.00
5.71
0.00
NA
0.00
0.00
0.00
0.00
1.59
1.05
0.00
0.00
75.36
19.80
19.65
0.00
4.99
0.00
NA
0.00
0.00
0.00
0.00
6.62
0.00
8.22
91.78
2.32
0.00
1.10
92.31
1.29
0.00
1.41
91.99
2.07
0.00
2.43
95.98
1.96
0.00
1.93
91.45
1.61
Alaska - 0.0%
Alabama - 0.0%
Arkansas - 0.0%
All other - 0.0%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.40
Colorado - 35.0%
0.20
LT Bond
Common Stock
Preferred Stock
Total
Arizona - 65.0%
All Other - 0.0%
DPW ($000)
707
381
0
0
0
0
0.00
CMBS Exposure
Rank and States
1. Arizona
2. Colorado
3. Alaska
4. Alabama
5. Arkansas
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
1,088
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
1,334
18.95
0.00
0.68
1,349
6.04
0.00
174.09
1,327
0.13
0.00
0.45
1,338
14.49
0.00
-4.65
1,088
0.45
when
pooling
h an iinter-company
t
i t
Cherokee Grte Co. Inc. A RRG (Scottsdale, AZ)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
18835 North Thompson Peak Parkway
Suite 220
Scottsdale, AZ 85255-6255
NAIC Ownership Structure: Stock Company
Distribution Channel: --
Total Assets
Total Liabilities
Net Income
Total Revenue
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
4,775
1,512
3,263
-133
937
Net Premiums Earned
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
3,964
2,806
937
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
710
NA
NA
1.86
Credit Ratings
Rating
-A
----
Date
-03/06/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Andrew Scott Marson
(480) 682-4983
(480) 471-8160
andrew.marson@strategicrisks.com
Total Assets
----Michael Walter Gregory
Total Liabilities
6,000
172.0
5,000
2008Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2009Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2010Y
2011Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.02
NA
NA
75.91
7.66
37.12
83.57
83.52
0.06
0.00
Combined Ratio
1.00
0.90
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
0.00
3,000
2,000
1,000
0
2008Y
2009Y
83.6
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
38.79
0.83
0.00
1.87
4.96
3,964
711
215
11
70.78
NM
1.19
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
345
70.78
0.00
0.00
0
0
2011Y
I
t
t Yield
Yi ld
Investment
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
34.18
79.93
73.78
172.00
0.00
86.76
691
540
880.13
1,049.38
0.25
2010Y
2011Y
2012Y
NA
NA
NA
0
0
NA
NA
NA
NA
0
0
NA
262
186
NA
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
999*
999*
172*
171*
0
NA
NA
900
300
33
15
100
65
6.5
-----33
----3
50
-10
NA
25
-10
NA
100
--NA
40
--NA
20
--NA
20
--NA
25
--NA
2012Y
2008Y
Over
Under
2008Y
2010Y
Reserve coverage2
4,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Net Income Growth
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
Capital and Surplus
70.8
2008Y
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Reserves/ Equity
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
NA
0.00
36.24
46.96
1,600
1,400
1,200
1,000
800
600
400
200
0
482.3
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1,512
1,512
157
964.68
482.34
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0.00
NA
215.83
22.82
Cherokee Grte Co. Inc. A RRG (Scottsdale, AZ)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
411
0
366
0
0
Occupied Properties
Properties for Sale
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
Total Real Estate
Other Investments
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Total Liabilities
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
3,964
0
3,964
Net Premiums Earned
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
-1,158
2,806
1,869
937
0
1,115
0
1,893
2,582
0
300
0
4,775
Net Losses Paid
Net LAE Paid
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
363
0
348
NA
NA
NA
NA
NA
NA
NA
NA
348
362
710
1,869
557
128
0
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
348
711
215
0
0
11
0
926
NA
3,263
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1
0
0
0
11
144
-133
Surplus Notes
Unassigned Surplus
Capital & Surplus
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1,500
0
0
12
0
1,512
Income ($000)
All Other Income
Federal Income Tax
Net Income
NA
NA
NA
NA
4,775
NA
NA
NA
NA
11
Memo: Total Revenue
Memo: Paid Expenses
NA
NA
NA
NA
NA
NA
NA
NA
937
578
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
1,127
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
NA
NA
NA
0
Bonds
Preferred Stocks
NA
NA
NA
NA
NA
NA
NA
NA
0
0
Common Stocks
Mortgage Loans
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1
0
0
1,893
0
1,127
0
366
0
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
NA
Bonds - 21.7%
CMBS Exposure
RMBS Exposure
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
NA
0
0
0
0
NA
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
411
366
0
777
411
366
0
777
413
365
0
778
400
--400
1,636
1,097
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1.00
0.00
0.00
21.74
24.19
19.33
0.00
58.94
0.00
NA
0.00
0.00
0.00
54.08
0.00
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
6.28
39.63
0.01
Pennsylvania - 8.8%
Texas - 8.3%
New Mexico - 7.7%
All other - 53.1%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.40
0.20
New Jersey - 10.1%
All Other - 0.0%
DPW ($000)
478
398
350
329
304
2,106
0.00
LT Bond
Common Stock
Preferred Stock
Total
Tennessee - 12.0%
Rank and States
1. Tennessee
2. New Jersey
3. Pennsylvania
4. Texas
5. New Mexico
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
3,964
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
NA
3,964
31.39
when
pooling
h an iinter-company
t
i t
Cnsmr Specialties Ins Co (RRG) (Barre, VT)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
2386 Airport Road
Barre, VT 05641-8629
Distribution Channel: Direct Response, General
Agnt/Managing General Agnt, Independent Agency
Total Assets
Total Liabilities
Net Income
Total Revenue
6,987
3,580
3,406
-60
1,211
6,772
3,643
3,129
-187
831
6,252
3,589
2,664
13
821
5,674
3,405
2,269
-64
685
5,365
3,373
1,992
15
547
Net Premiums Earned
2,091
953
1,004
1,522
640
677
1,326
616
679
1,166
561
602
944
405
496
2,717
268.76
-0.27
0.27
2,450
380.31
-5.39
0.18
2,065
368.61
-1.39
0.17
1,820
347.05
-7.21
0.16
1,641
360.71
-3.90
0.12
MSA: Barre, VT (Micro)
Credit Ratings
Rating
B
A
----
Date
04/03/12
03/29/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Paula A. French
(802) 371-2321
(802) 229-6280
pfrench@usarisk.com
Total Assets
Johnson Lambert LLP
Financial Risk Analysts LLC
--D. Christopher Cathcart
7,000
2008Y
2009Y
2010Y
2011Y
2012Y
6,000
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
3.12
21.81
-1.54
-0.82
56.11
69.16
29.30
125.27
104.56
20.71
0.00
2.54
24.05
-5.31
-2.74
74.84
80.27
-3.61
155.11
132.36
22.75
0.00
2.34
23.09
0.36
0.19
45.50
91.28
17.09
136.78
115.83
20.95
0.00
1.49
14.80
-1.84
-1.05
60.07
102.30
-50.18
162.37
148.58
13.79
0.00
1.09
12.53
0.44
0.27
29.08
131.91
22.51
160.99
150.78
10.22
0.00
5,000
4.00
3.00
2.00
1.00
0.00
-1.00
-2.00
-3.00
-4.00
-5.00
-6.00
Combined Ratio
162.4
155.1
161.0
136.8
125.3
53.0
53.0
4,000
46.0
3,000
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
26.81
9.41
0.00
2.99
56.75
2,091
563
659
-219
45.58
NM
-0.89
78.44
8.38
0.00
3.84
68.05
1,522
506
514
-344
42.06
NM
-22.83
28.41
18.07
0.00
4.09
69.12
1,326
309
562
-192
46.41
58.78
-6.09
110.25
18.16
0.00
14.18
69.96
1,166
362
574
-334
48.13
NM
-36.59
6.58
20.15
0.00
10.65
101.11
944
144
534
-182
42.87
-3.79
-23.99
2008Y
2009Y
2010Y
2011Y
2012Y
2,034
45.58
0.00
0.00
0
0
8,357
42.06
0.00
0.00
0
0
2,565
46.41
0.00
0.00
0
0
2,734
48.13
0.00
0.00
0
0
2,604
42.87
0.00
0.00
0
0
45.0
45.0
2011Y
2012Y
2,000
1,000
0
2008Y
2009Y
2010Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
51.60
224.91
49.10
53.00
0.00
265.55
127
326
113.80
115.10
41.03
47.92
227.85
41.15
53.00
0.00
499.24
-960
-648
41.25
32.05
44.44
53.40
261.92
39.64
46.00
0.00
344.04
-418
-143
60.06
50.04
48.96
67.35
277.99
44.87
45.00
0.00
364.60
-833
-696
41.83
41.83
52.93
66.76
272.92
39.43
45.00
0.00
377.08
-780
-697
34.91
34.91
55.90
2010Y
2011Y
2012Y
37
17
-4
1
124*
2 5*
2.5*
34
16
-9
2
131*
1 5*
1.5*
28
12
-28
2
149*
1 1*
1.1*
-5
-2
45
2
-12
-19
-9
-1
0
45
2
-5
-10
-10
Over
Under
2008Y
8,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
-2
25
-10
1
100
--46
40
--3
20
---11
20
---7
25
---6
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
-3.98
7.11
-3.07
-8.15
-7.68
-14.87
-9.25
-14.83
-5.45
-12.19
-16.45
NM
NM
7.60
-14.04
4.61
-1.83
1.01
-32.84
NM
NM
-9.83
-27.22
3.61
-1.52
0.65
-3.83
NM
NM
-15.70
-12.84
-1.38
-0.98
-1.15
-8.86
NM
NM
-11.86
-12.11
-6.24
-2.83
-4.28
-27.89
NM
NM
-9.87
-19.05
-8.93
-3.81
-5.91
2,500
Capital and Surplus
48.1
2,000
1,500
46.4
45.6
1,000
42.9
42.1
500
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
7.60
-9.03
-3.30
268.76
-36.87
47.08
75.89
-9.83
-9.44
-9.90
380.31
-49.95
40.62
67.25
-15.70
-11.25
-7.15
368.61
-60.43
45.30
57.55
-11.86
-11.93
-18.99
347.05
-71.11
19.52
53.46
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
430.4
456.1
438.7
2010Y
2011Y
464.3
319.8
2008Y
2009Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
3,580
3,577
416
860.82
430.41
3,643
3,643
570
639.69
319.85
3,589
3,589
393
912.25
456.13
3,405
3,405
388
877.33
438.67
3,373
3,373
363
928.65
464.32
-9.87
-4.79
-10.14
360.71
-32.86
23.29
48.65
-48
-408
0
0.00
24.31
95.15
56.81
-134
297
0
0.00
18.19
85.88
229.38
81
25
0
0.00
17.18
74.23
71.48
119
6
0
0.00
16.13
66.62
80.29
146
-42
0
0.00
12.02
59.07
77.21
Cnsmr Specialties Ins Co (RRG) (Barre, VT)
2008Y
2009Y
2010Y
2011Y
2012Y
3,202
0
1,408
0
0
2,888
0
1,535
0
0
3,218
0
1,095
0
0
2,608
0
884
0
0
2,497
0
567
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
1,758
0
6,367
171
0
448
0
6,987
0
1,499
0
5,922
108
401
340
0
6,772
0
1,422
0
5,735
100
171
247
0
6,252
0
1,528
0
5,020
76
299
278
0
5,674
0
1,330
0
4,393
51
646
275
0
5,365
Net Losses Paid
Net LAE Paid
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
1,736
981
2,717
447
46
197
0
0
1,339
1,111
2,450
410
17
252
0
0
1,112
953
2,065
347
22
229
0
0
555
1,265
1,820
306
36
106
0
0
407
1,234
1,641
215
25
111
0
0
Total Liabilities
3,406
3,129
2,664
2,269
1,992
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Revenue
Net Premiums Earned
Surplus Notes
Unassigned Surplus
Capital & Surplus
47
0
0
2,867
666
3,580
41
0
0
3,010
592
3,643
39
0
0
3,061
489
3,589
38
0
0
3,003
364
3,405
36
0
0
2,999
338
3,373
Income ($000)
All Other Income
Federal Income Tax
Net Income
6,987
6,772
6,252
5,674
5,365
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
208
48
-48
-408
6,367
0
4,496
0
1,408
0
0
154
134
-134
297
5,922
0
4,095
0
1,535
0
0
142
81
25
5,735
0
4,459
0
1,095
0
0
83
119
6
5,020
0
3,894
0
884
0
0
51
146
-42
4,393
0
3,541
0
567
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
0
944
0
944
-1,138
953
-51
1,004
-882
640
-37
677
-711
616
-63
679
-605
561
-41
602
-539
405
-92
496
0
91
0
91
143
0
203
0
373
0
373
537
0
-398
0
343
0
343
351
0
-227
0
255
0
255
352
0
-557
0
260
0
260
64
0
-148
0
126
329
563
659
0
0
-219
0
1,222
0
-7
-404
506
514
0
0
-344
0
1,020
0
-158
-385
309
562
0
0
-192
0
871
0
312
-245
362
574
0
0
-334
0
936
0
-31
-180
144
534
0
0
-182
0
678
208
-48
0
0
-59
2
-60
154
-134
0
0
-324
-137
-187
142
81
0
0
31
18
13
83
119
0
0
-132
-68
-64
51
146
0
0
14
-1
15
-11
-190
-50
-251
-131
1,164
849
696
865
902
948
804
1,063
692
603
2008Y
2009Y
2010Y
2011Y
2012Y
4,340
156
3,960
135
4,459
0
3,894
0
3,541
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 56.8%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
3
2
0
0
49
0
0
0
48
0
0
0
45
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
2,497
567
0
3,063
2,497
567
0
3,063
2,502
419
0
2,921
2,372
--2,372
9,867
1,552
0
--
Oth, Prod Liab Cmbnd - 100.0%
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.03
0.00
0.00
50.29
39.32
22.11
0.00
27.61
0.00
NA
0.00
0.00
0.00
2.45
0.00
1.03
0.00
0.00
48.76
42.14
25.92
0.00
25.32
0.00
NA
0.00
0.00
0.00
1.60
5.93
1.00
0.00
0.00
56.11
30.51
19.09
0.00
24.80
0.00
NA
0.00
0.00
0.00
1.59
2.73
1.00
0.00
0.00
51.95
25.97
17.61
0.00
30.44
0.00
NA
0.00
0.00
0.00
1.34
5.27
1.00
0.00
0.00
56.83
16.80
12.90
0.00
30.27
0.00
NA
0.00
0.00
0.00
0.96
12.03
0.00
6.42
91.13
2.97
0.00
5.03
87.45
2.27
0.00
3.95
91.73
2.27
0.00
4.91
88.48
1.46
0.00
5.12
81.89
0.94
Wisconsin - 17.0%
Illinois - 11.4%
Louisiana - 7.4%
California - 7.0%
All other - 28.4%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
2012Y
0
1,166
0
1,166
LT Bond
Common Stock
Preferred Stock
Total
Colorado - 28.8%
2011Y
0
1,326
0
1,326
0
All Other - 0.0%
DPW ($000)
272
161
108
70
66
268
2010Y
0
1,522
0
1,522
Rank and States
1. Colorado
2. Wisconsin
3. Illinois
4. Louisiana
5. California
All Other
2009Y
0
2,091
0
2,091
Class 6
2008Y
Rank and LOBs
1. Oth, Prod Liab Cmbnd
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
944
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
3.99
2,091
43.10
0.00
-5.18
1,522
299.57
0.00
-7.86
1,326
3.04
0.00
-14.45
1,166
-53.59
0.00
-17.25
944
-103.26
when
pooling
h an iinter-company
t
i t
Continuing Care RRG Inc. (Moncks Corner, SC)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
223-B Heatley Street
Moncks Corner, SC 29461-3781
Total Assets
Total Liabilities
Net Income
Total Revenue
5,650
3,968
1,681
-570
4,582
6,166
3,804
2,362
-394
4,898
3,635
2,561
1,074
-1,329
5,218
4,595
3,365
1,230
787
3,890
3,695
2,937
758
-451
2,733
Net Premiums Earned
5,441
4,493
4,493
5,453
4,868
4,868
5,820
5,216
5,216
4,276
3,887
3,887
3,209
2,732
2,732
10
21.80
-21.42
1.13
0
22.06
-14.29
1.28
412
32.21
-49.34
2.04
535
39.99
23.31
1.16
98
37.20
-18.47
0.93
MSA: Charleston-North Charleston-Summerville, SC (Metro)
Credit Ratings
Rating
-A
----
Date
-03/06/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Katie Gray
(800) 226-0793
(941) 906-7538
kgray@pboa.com
Total Assets
Milliman Inc.
--Leslie Breckenridge
2009Y
2010Y
2011Y
2012Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2.49
1.77
-14.14
-7.81
78.21
42.99
49.68
121.20
119.43
1.77
0.00
1.23
0.52
-9.54
-5.37
68.40
44.33
39.50
112.73
112.21
0.52
0.00
0.01
0.00
-43.40
-19.31
89.41
39.61
69.06
129.02
129.02
0.00
0.00
0.03
0.02
26.80
14.20
39.25
43.19
21.20
82.44
82.42
0.02
0.00
-0.08
-0.05
-14.71
-8.78
55.43
65.35
45.78
120.77
120.83
-0.05
0.00
40.00
30.00
20.00
10.00
0.00
-10.00
-20.00
-30.00
-40.00
-50.00
Combined Ratio
129.0
121.2
120.8
112.7
5,000
147.0
4,000
3,000
2,000
83.0
82.4
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
28.53
9.63
0.00
5.01
28.35
5,441
3,514
1,931
-952
82.57
NM
-18.85
28.90
8.83
0.00
4.69
30.81
5,453
3,330
2,158
-620
89.27
NM
-12.05
20.35
9.08
0.00
4.74
25.79
5,820
4,663
2,066
-1,514
89.62
NM
-28.96
18.06
9.24
0.00
4.51
29.44
4,276
1,526
1,679
683
90.92
-14.96
17.61
9.64
9.78
0.00
5.25
50.31
3,209
1,514
1,785
-568
85.13
NM
-20.72
Premiums ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
-555
82.57
0.00
0.00
0
0
-817
89.27
0.00
0.00
0
0
79
89.62
0.00
0.00
0
0
-15
90.92
0.00
0.00
0
0
10
85.13
0.00
0.00
0
0
49.0
2010Y
2011Y
0
2008Y
2009Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
120.69
135.77
51.13
83.00
0.00
14,742.41
-1,706
-1,551
68.58
68.58
-11.01
46.05
46.05
28.59
217.00
0.00
NA
-1,204
-1,170
77.71
77.71
-16.45
187.57
187.57
78.66
53.00
0.00
508.10
838
840
113.00
113.00
-64.49
205.07
205.07
74.96
49.00
0.00
468.43
489
491
115.57
115.57
-33.87
68.20
68.20
17.60
147.00
0.00
536.75
-2,178
-2,177
55.68
55.68
-58.36
2010Y
2011Y
2012Y
227
204
7
0
121*
0 0*
0.0*
127
116
-25
0
109*
0 0*
0.0*
109
93
-30
0
98
0 0*
0.0*
31
31*
49
0
3
0
-10
-13*
-18*
147*
0
-12
-12
-1
Over
Under
2008Y
53.0
1,000
Reserve coverage2
217.0
6,000
2008Y
7,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
-33*
25
-10
-35*
100
--53
40
--0
20
--0
20
--0
25
---16
2008Y
2009Y
2010Y
2011Y
2012Y
-15.02
-32.05
9.14
40.49
-41.05
-54.54
26.43
14.55
-19.59
-38.36
Net Income Growth
-37.93
NM
NM
-95.14
-1.83
22.41
44.58
35.43
8.35
NM
NM
NM
0.22
-3.43
23.49
8.31
7.14
NM
NM
NM
6.72
-19.75
-5.27
-11.20
-25.47
NM
NM
29.93
-26.53
-12.10
-1.70
-5.23
-29.72
NM
NM
-81.66
-24.94
-21.07
-6.79
-11.08
7,000
Capital and Surplus
90.9
6,000
89.6
89.3
5,000
4,000
85.1
3,000
2,000
82.6
1,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
-95.14
-4.91
0.06
21.80
-4.56
88.98
0.25
NM
-0.25
-4.91
22.06
-0.21
NA
0.00
NM
0.00
-0.25
32.21
0.00
48.27
16.09
29.93
3.44
0.00
39.99
2.26
40.21
15.91
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
310.8
288.9
253.6
213.4
185.2
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
3,968
3,968
638
621.55
310.78
3,804
3,804
750
507.26
253.63
2,561
2,561
691
370.34
185.17
3,365
3,365
582
577.88
288.94
2,937
2,937
688
426.80
213.40
-81.66
-12.15
-11.87
37.20
-14.97
23.13
3.34
0
-2
0
0.00
111.44
42.37
-13.99
0
2
0
0.00
117.87
62.09
-21.48
0
0
0
0.00
170.27
41.93
3.08
0
0
0
0.00
132.28
36.55
-0.45
0
0
0
0.00
89.11
25.81
0.34
Continuing Care RRG Inc. (Moncks Corner, SC)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Occupied Properties
Properties for Sale
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,029
0
2,029
43
57
3,521
0
5,650
0
1,088
0
1,088
0
216
4,863
0
6,166
0
2,014
0
2,014
9
0
1,611
0
3,635
0
2,523
0
2,523
0
0
2,073
0
4,595
0
517
0
517
-18
0
3,196
0
3,695
9
1
10
0
612
928
0
131
0
0
0
0
1,033
1,299
0
30
354
58
412
0
-79
695
0
46
285
250
535
0
15
680
0
0
89
9
98
0
-10
658
0
12
1,681
2,362
1,074
1,230
758
Total Real Estate
Other Investments
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
Total Liabilities
Surplus Notes
Unassigned Surplus
Capital & Surplus
0
0
0
-622
4,591
3,968
0
0
0
-1,015
4,819
3,804
0
0
0
-2,344
4,905
2,561
0
0
0
-1,557
4,922
3,365
0
0
0
-2,157
5,094
2,937
5,650
6,166
3,635
4,595
3,695
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
5,441
0
5,441
0
5,453
0
5,453
0
5,820
0
5,820
0
4,276
0
4,276
0
3,209
0
3,209
Net Premiums Earned
-948
4,493
0
4,493
-585
4,868
0
4,868
-604
5,216
0
5,216
-388
3,887
0
3,887
-477
2,732
0
2,732
Net Losses Paid
Net LAE Paid
0
2,397
0
2,397
1,428
0
-164
0
1,932
0
1,932
1,408
0
-9
0
3,248
0
3,248
1,003
0
354
0
892
0
892
510
0
-68
0
1,447
0
1,447
516
0
-197
0
-146
-311
3,514
1,931
0
0
-952
0
5,445
0
-1
-10
3,330
2,158
0
0
-620
0
5,488
0
58
412
4,663
2,066
0
0
-1,514
0
6,729
0
192
123
1,526
1,679
0
0
683
0
3,205
0
-252
-449
1,514
1,785
0
0
-568
0
3,300
Income ($000)
All Other Income
Federal Income Tax
Net Income
79
0
10
0
-864
-294
-570
25
0
4
0
-590
-196
-394
0
0
2
0
-1,511
-182
-1,329
1
0
1
0
685
-102
787
-1
0
3
0
-566
-115
-451
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
79
0
-2
2,029
0
254
0
0
0
0
25
0
2
1,088
0
0
0
0
0
0
0
0
0
2,014
0
0
0
0
0
0
1
0
0
2,523
0
0
0
0
0
0
-1
0
0
517
0
0
0
0
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
685
-566
5,218
3,414
3,890
2,250
2,733
3,470
2008Y
2009Y
2010Y
2011Y
2012Y
254
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 0.0%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
0
0
0
0
0
0
0
0
0
0
0
0
0
--0
0
0
0
--
LT Bond
Common Stock
Preferred Stock
Total
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
1.00
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
0.76
1.01
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
0.00
3.50
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
0.26
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
0.00
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
-0.48
0.00
0.00
62.31
35.92
1.40
0.00
78.86
17.64
0.41
0.00
44.32
55.42
0.00
0.00
45.11
54.89
0.02
0.00
86.49
13.99
-0.04
2008Y
2009Y
2010Y
2011Y
2012Y
Common Stocks / C&S
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.00
149.26
5,441
41.02
0.00
26.52
5,453
35.26
0.00
7.91
5,820
61.89
0.00
-3.19
4,276
19.27
0.00
-10.35
3,209
38.98
California - 54.4%
Arizona - 25.3%
Aircraft - 0.0%
North Carolina - 8.6%
Indiana - 3.1%
Kansas - 2.3%
All other - 6.4%
All Other - 0.0%
DPW ($000)
1,745
810
275
101
74
204
-1,511
Class 6
Rank and States
1. California
2. Arizona
3. North Carolina
4. Indiana
5. Kansas
All Other
-590
4,898
3,314
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
-864
4,582
3,483
Rank and LOBs
1. Med Prof Liab
3. Total Cmbnd A&H
4. Aircraft
5. Comm'l Auto St
All Other
DPW ($000)
2,407
802
0
0
0
0
when
pooling
h an iinter-company
t
i t
Doctors & Surgeons Natl RRG (Lawrenceville, GA)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
3370 Sugarloaf Parkway
Suite G-2/302
Lawrenceville, GA 30044-5486
MSA: Atlanta-Sandy Springs-Marietta, GA (Metro)
Total Assets
Total Liabilities
Net Income
Total Revenue
2,228
1,219
1,009
74
385
2,918
1,276
1,642
6
1,014
4,828
2,033
2,795
168
2,360
7,583
2,209
5,375
76
3,157
9,956
2,589
7,367
279
4,013
Net Premiums Earned
1,430
1,164
316
1,294
798
958
3,928
2,549
2,283
5,146
4,008
3,007
6,538
4,896
3,839
38
20.05
18.37
0.95
764
46.46
0.75
0.63
1,753
53.41
17.10
1.25
2,941
72.14
7.48
1.81
3,386
82.29
17.34
1.89
Credit Ratings
Rating
-A
----
Date
-03/06/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Sara Mary Carpenter
(706) 232-9591x12
(706) 232-0195
scarpenter@alliantplans.com
Total Assets
Munninghoff Lange & Company
Merlinos & Associates Inc.
--William Peter Graper
Total Liabilities
12,000
10,000
2008Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2009Y
2.63
3.49
6.64
3.79
26.47
8.34
2.99
34.80
21.97
12.83
0.00
1.98
6.23
0.51
0.21
63.87
49.30
45.36
113.17
107.99
5.19
0.00
2010Y
2011Y
1.63
2.10
11.35
3.93
52.70
35.45
36.15
88.16
85.81
2.35
0.00
2.46
3.00
3.49
1.22
51.33
36.22
20.45
87.55
83.55
4.00
0.00
2.59
3.56
11.33
3.19
53.09
31.60
31.65
84.69
80.16
4.54
0.00
12.00
Combined Ratio
113.2
10.00
88.2
8.00
87.6
95.0
2012Y
84.7
8,000
102.0
75.0
62.0
6,000
52.0
4,000
2,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
191.83
191.83
158.83
52.00
0.00
241.26
936
996
532.90
534.00
3.66
135.53
253.53
174.46
62.00
0.00
193.53
614
651
514.74
514.74
4.74
30.91
131.47
42.50
75.00
0.00
164.43
837
769
174.99
189.20
6.35
8.55
104.97
20.80
95.00
0.00
124.92
1,997
2,083
225.74
231.20
5.14
8.13
97.85
23.13
102.00
0.00
121.10
1,956
2,170
168.42
168.42
6.72
2010Y
2011Y
2012Y
193
125
219*
0
91
1 7*
1.7*
233
181
57*
0
84
2 6*
2.6*
253
189
22
0
81
2 7*
2.7*
9
4
95
54*
0
20*
-8
17
13
102*
60*
-2
-1
-3
6.00
4.00
0.00
2008Y
2009Y
Retention Ratio
Effective Tax Rate
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
23.48
3.34
0.00
0.97
4.03
1,430
84
97
136
81.36
62.46
53.01
18.52
18.33
0.00
1.25
29.71
1,294
612
393
-47
61.70
34.00
0.87
16.55
12.81
0.00
0.82
21.82
3,928
1,203
904
176
64.90
33.87
10.74
30.88
14.67
0.00
0.61
20.95
5,146
1,544
1,452
12
77.88
53.42
5.13
21.44
16.05
0.00
0.66
14.89
6,538
2,038
1,547
254
74.88
33.99
10.66
2008Y
2009Y
2010Y
2011Y
2012Y
199
81.36
100.00
0.00
0
0
199
61.70
0.00
0.00
0
0
776
64.90
48.58
0.00
0
0
472
77.88
0.00
0.00
0
0
537
74.88
0.00
0.00
0
0
Premiums ($000)
Over
Under
34.8
2.00
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
59*
25
-10
13
100
--75
40
--31
20
--28*
20
--16
25
--22
2008Y
2009Y
2010Y
2011Y
2012Y
118.68
NM
30.95
62.71
65.45
70.19
57.08
92.32
31.29
37.07
Net Income Growth
NM
NM
842.48
NM
NM
NA
NA
NA
-31.40
-95.65
-91.84
1,920.03
-9.55
NA
NA
NA
219.39
NM
NM
129.36
203.64
NM
26.35
67.96
57.21
-36.13
-55.07
67.74
31.02
368.52
21.67
65.17
22.16
164.26
269.67
15.13
27.04
266.41
20.77
57.76
7,000
6,000
81.4
5,000
77.9
Capital and Surplus
74.9
64.9
61.7
4,000
3,000
3,000
2,000
2,500
1,000
1,248.7
2,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
1,500
1,000
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Reserves/ Equity
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
365.9
500
240.3
2008Y
2009Y
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
NM
0.00
0.00
20.05
0.00
25.01
3.10
1,920.03
0.41
0.00
46.46
0.52
40.47
59.92
129.36
27.98
16.32
53.41
15.64
28.27
86.24
67.74
0.10
20.15
72.14
0.07
23.35
133.16
15.13
-2.13
-0.78
82.29
-1.22
37.78
130.77
167.9
161.0
2011Y
2012Y
0
2010Y
2008Y
2009Y
2010Y
2011Y
2012Y
1,219
1,219
49
2,497.33
1,248.66
1,276
1,276
174
731.77
365.88
2,033
2,033
423
480.65
240.33
2,209
2,209
658
335.87
167.94
2,589
2,589
804
321.92
160.96
-8
0
0
0.00
104.86
82.80
16.33
0
0
0
0.00
67.11
128.72
15.60
1
0
0
0.00
171.98
137.48
38.17
0
0
0
0.00
185.26
243.37
21.37
-4
0
0
0.00
198.40
284.54
20.74
Doctors & Surgeons Natl RRG (Lawrenceville, GA)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
0
0
0
0
0
351
0
33
0
0
2,787
0
24
0
0
5,145
0
38
0
0
6,327
0
283
0
0
Occupied Properties
Properties for Sale
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,936
0
1,936
0
75
217
0
2,228
0
2,226
0
2,610
36
30
242
0
2,918
0
864
0
3,674
632
29
493
0
4,828
0
459
0
5,642
1,192
0
749
0
7,583
0
599
0
7,209
1,547
0
1,014
0
9,956
Net Losses Paid
Net LAE Paid
9
28
38
847
0
2
2
120
589
175
764
687
0
87
20
84
1,182
572
1,753
953
0
88
0
0
1,737
1,204
2,941
1,953
109
308
63
0
2,149
1,237
3,386
3,010
349
590
-36
69
1,009
1,642
2,795
5,375
7,367
Total Real Estate
Other Investments
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
Total Liabilities
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
1,430
0
1,430
0
1,294
0
1,294
0
3,928
0
3,928
0
5,146
0
5,146
0
6,538
0
6,538
Net Premiums Earned
-267
1,164
847
316
-495
798
-160
958
-1,379
2,549
266
2,283
-1,139
4,008
1,000
3,007
-1,642
4,896
1,057
3,839
0
0
0
0
46
0
9
0
-145
0
-145
31
0
580
0
233
0
233
105
0
592
0
60
0
60
172
0
555
0
803
0
803
791
0
412
0
28
38
84
97
0
0
136
0
181
0
147
727
612
393
0
0
-47
0
1,006
0
272
865
1,203
904
0
0
176
0
2,107
0
757
1,312
1,544
1,452
0
0
12
0
2,995
0
32
445
2,038
1,547
0
0
254
0
3,585
41
-8
0
28
196
123
74
50
0
0
6
9
3
6
54
1
0
24
254
86
168
120
0
0
30
162
87
76
174
-4
0
0
423
144
279
Surplus Notes
Unassigned Surplus
Capital & Surplus
500
0
0
81
638
1,219
500
0
0
138
638
1,276
500
0
0
307
1,226
2,033
500
0
0
390
1,319
2,209
500
0
0
669
1,420
2,589
Income ($000)
All Other Income
Federal Income Tax
Net Income
2,228
2,918
4,828
7,583
9,956
204
9
253
162
428
Memo: Total Revenue
Memo: Paid Expenses
377
141
1,015
340
2,361
1,056
3,158
1,517
4,008
1,925
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
1,904
0
2,787
0
5,043
102
6,226
101
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
41
8
-8
0
1,936
0
0
0
0
0
0
50
0
0
2,610
0
1,904
0
33
0
0
54
1
0
3,674
0
2,787
0
24
0
0
120
0
0
5,642
0
5,145
0
38
0
0
174
4
-4
0
7,209
0
6,327
0
283
0
0
NA
0.00
NA
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
0
Bonds - 87.8%
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
RMBS Exposure
0
0
0
2,822
3,684
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
346
94
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
6,327
283
0
6,610
6,386
283
0
6,669
6,372
283
0
6,655
6,288
--6,288
25,373
848
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
0.00
3.37
1.00
0.00
0.00
13.45
2.62
1.28
0.00
85.27
0.00
NA
0.00
0.00
0.00
1.25
1.01
1.00
0.00
0.00
75.84
1.17
0.65
0.00
23.51
0.00
NA
0.00
0.00
0.00
13.08
0.60
1.02
0.00
0.00
91.19
1.71
0.67
0.00
8.14
0.00
NA
0.00
0.00
0.00
15.72
0.00
1.02
0.00
0.00
87.77
10.92
3.92
0.00
8.31
0.00
NA
0.00
0.00
0.00
15.54
0.00
0.00
9.74
86.89
1.82
0.00
8.29
89.45
1.70
0.00
10.21
76.11
1.11
0.00
9.88
74.40
1.59
1.87
10.19
72.40
1.75
Florida - 13.0%
Illinois - 6.3%
Arizona - 3.1%
All other - 20.9%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.40
Michigan - 20.9%
0.20
LT Bond
Common Stock
Preferred Stock
Total
New York - 35.8%
All Other - 0.0%
DPW ($000)
2,342
1,364
853
410
202
1,368
0.00
CMBS Exposure
Rank and States
1. New York
2. Michigan
3. Florida
4. Illinois
5. Arizona
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
6,538
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
1,430
3.30
0.00
NA
1,294
29.77
0.00
NA
3,928
25.30
0.00
NA
5,146
14.79
0.00
NA
6,538
23.47
when
pooling
h an iinter-company
t
i t
Emergency Cap Mgmt LLC A RRG (Washington, DC)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
1627 Connecticut Avenue, NW
Suite 6
(Metro)
Distribution Channel: --
Total Assets
Total Liabilities
Net Income
Total Revenue
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2,743
1,802
941
-11
1,012
Net Premiums Earned
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
3,023
1,004
1,004
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
769
NA
NA
0.56
Credit Ratings
Rating
-A
----
Date
-03/08/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Melissa Anne Hancock
(802) 881-7142
(802) 863-2198
melissa.hancock@strategicrisks.com
Total Assets
----Rodney W. Smith
Total Liabilities
3,000
40.0
2,500
2008Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2009Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2010Y
2011Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.81
NA
NA
76.57
18.88
38.77
95.45
94.63
0.81
0.00
Combined Ratio
1.00
0.90
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
0.00
1,500
1,000
500
0
2008Y
2009Y
95.4
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
37.79
-13.29
0.00
9.57
22.61
3,023
769
190
46
33.22
118.29
5.32
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1,689
33.22
0.00
0.00
0
0
2011Y
I
t
t Yield
Yi ld
Investment
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
114.64
250.64
59.88
40.00
0.00
526.49
632
596
2,034.89
2,237.00
0.97
2010Y
2011Y
2012Y
NA
NA
NA
0
0
NA
NA
NA
NA
0
0
NA
168
56
NA
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
3
2
40
0
0
NA
NA
900
300
33
15
100
65
6.5
-----33
----3
50
-10
NA
25
-10
NA
100
--NA
40
--NA
20
--NA
20
--NA
25
--NA
2012Y
2008Y
Over
Under
2008Y
2010Y
Reserve coverage2
2,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Net Income Growth
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
3,500
Capital and Surplus
33.2
3,000
2,500
2,000
1,500
1,000
500
0
2008Y
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Reserves/ Equity
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
NA
0.00
44.14
42.68
2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
239.0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1,802
1,802
377
478.06
239.03
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
6
9
0
0.00
NA
52.23
93.75
Emergency Cap Mgmt LLC A RRG (Washington, DC)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1,050
0
229
0
0
Occupied Properties
Properties for Sale
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
Total Real Estate
Other Investments
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
1,079
1
2,359
0
350
33
0
2,743
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
389
380
769
0
0
167
2
3
Total Liabilities
NA
NA
NA
NA
941
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
3,023
0
3,023
Net Premiums Earned
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
-2,019
1,004
0
1,004
Net Losses Paid
Net LAE Paid
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
0
0
389
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
380
769
769
190
0
0
46
0
959
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
8
6
0
0
60
70
-11
Surplus Notes
Unassigned Surplus
Capital & Surplus
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
27
1,775
1,802
Income ($000)
All Other Income
Federal Income Tax
Net Income
NA
NA
NA
NA
2,743
NA
NA
NA
NA
54
Memo: Total Revenue
Memo: Paid Expenses
NA
NA
NA
NA
NA
NA
NA
NA
1,018
64
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
1,050
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
NA
NA
NA
0
Bonds
Preferred Stocks
NA
NA
NA
NA
NA
NA
NA
NA
0
0
Common Stocks
Mortgage Loans
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
8
6
9
2,359
0
1,050
0
229
0
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
NA
Bonds - 44.5%
CMBS Exposure
RMBS Exposure
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
NA
0
0
0
0
NA
0
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
1,050
229
0
1,280
1,054
229
0
1,283
1,063
217
0
1,279
1,000
--1,000
4,167
675
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
1.00
0.00
0.00
44.52
12.73
9.72
0.00
45.72
0.00
NA
0.00
0.00
0.04
0.00
12.75
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
1.22
86.03
0.30
Indiana - 18.2%
Michigan - 11.8%
Delaware - 7.9%
All other - 8.1%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.40
0.20
Ohio - 18.9%
All Other - 0.0%
DPW ($000)
1,062
572
551
356
238
245
0.00
LT Bond
Common Stock
Preferred Stock
Total
Illinois - 35.1%
Rank and States
1. Illinois
2. Ohio
3. Indiana
4. Michigan
5. Delaware
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
3,023
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
0.00
NA
3,023
46.59
when
pooling
h an iinter-company
t
i t
Emergency Medicine Prof Assr (Las Vegas, NV)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
9550 South Eastern Avenue
Suite 253
Las Vegas, NV 89123-8042
MSA: Las Vegas-Paradise, NV (Metro)
Geographic Focus: Regional - Midwestern Quadrant
Total Assets
Total Liabilities
Net Income
Total Revenue
11,697
3,722
7,975
-201
3,954
12,525
3,649
8,877
-392
4,163
13,729
4,823
8,906
400
6,042
22,902
6,324
16,578
635
6,147
21,100
6,002
15,098
-301
4,273
7,039
3,750
3,793
7,303
4,268
3,966
7,715
5,478
5,797
8,424
6,396
5,921
4,431
3,692
4,047
5,147
132.27
0.14
1.01
6,343
147.87
-4.84
1.17
6,531
109.18
4.84
1.14
7,770
121.30
12.51
1.01
7,739
198.92
-11.54
0.62
Credit Ratings
Rating
-A
----
Date
-03/08/13
----
Net Premiums Earned
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Brian Troy Winch
(941) 373-1105
(941) 366-1076
twinch@riskservcos.com
Total Assets
Milliman Inc.
----
142.0
2008Y
2009Y
2010Y
2011Y
2012Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2.01
4.31
-4.25
-1.68
46.40
58.34
35.04
104.73
100.47
4.26
0.00
2.45
4.63
-11.01
-3.14
56.74
48.85
44.83
105.60
100.62
4.98
0.00
2.63
4.47
9.44
2.85
50.83
52.77
29.78
103.60
99.37
4.22
0.00
2.14
3.54
11.42
3.80
45.01
43.57
16.66
88.58
84.76
3.82
0.00
1.62
6.12
-4.74
-1.32
56.42
52.50
21.08
128.33
122.74
5.59
19.41
Combined Ratio
15.00
128.3
10.00
105.6
104.7
103.6
5.00
25,000
Total Liabilities
88.6
130.0
20,000
15,000
104.0
104.0
96.0
10,000
5,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
19.47
95.45
41.71
104.00
0.00
177.56
391
651
109.26
110.43
-12.00
28.63
103.03
69.66
96.00
0.00
179.54
1,296
1,535
152.44
146.49
-9.02
7.00
95.60
12.93
104.00
0.00
179.02
-19
256
99.64
99.64
-4.42
24.09
70.02
63.15
142.00
0.00
181.35
1,961
2,226
141.26
141.26
2.24
22.29
74.08
56.06
130.00
0.00
156.62
-2,119
-2,533
62.97
55.92
1.13
2010Y
2011Y
2012Y
160
114
28
0
100
2 8*
2.8*
138
101
17
0
92
2 3*
2.3*
74
62
-42*
0
100
2 0*
2.0*
31
23
142*
6
-10
12
6
-5
-4
130*
5
-9
-22
-56
0.00
-5.00
Over
Under
-10.00
-15.00
2008Y
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
11.35
15.47
0.00
7.63
35.24
7,039
1,760
2,188
-155
53.28
NM
0.17
11.91
12.62
0.00
4.28
31.95
7,303
2,250
2,085
-369
58.43
NM
-4.13
21.04
11.48
0.00
3.66
37.63
7,715
2,947
2,891
-40
71.00
-27.06
3.39
28.35
9.82
0.00
5.55
28.20
8,724
2,665
2,787
469
73.32
32.10
11.31
35.33
9.57
0.00
5.66
37.27
4,452
2,283
1,938
-174
82.93
NM
-17.17
2008Y
2009Y
2010Y
2011Y
2012Y
4,139
53.28
48.01
0.00
0
0
5,426
58.43
72.82
0.00
0
0
5,779
71.00
69.44
0.00
0
0
5,980
73.32
78.08
3.44
0
0
2,988
82.93
55.02
0.47
0
0
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
32
25
-10
14
100
--104*
40
--12
20
--25*
20
---31
25
--38*
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
-2.43
13.49
7.08
11.31
9.61
0.33
66.82
86.15
-7.87
-8.93
-22.73
-91.96
NM
12.17
-1.12
43.28
24.86
35.95
13.79
NM
NM
23.24
3.76
36.22
18.96
29.61
28.35
NM
NM
2.96
5.64
12.57
16.82
13.96
16.77
239.05
58.69
18.98
9.18
22.89
5.98
16.56
-42.28
NM
NM
-0.40
-47.40
16.53
3.88
11.97
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Capital and Surplus
82.9
73.3
71.0
53.3
58.4
7,000
258.8
6,000
5,000
2008Y
2009Y
2010Y
2011Y
4,000
2012Y
211.6
176.2
168.5
165.7
2008Y
2009Y
2010Y
3,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
12.17
-7.13
-11.63
132.27
-9.33
19.11
138.29
23.24
-8.68
-13.87
147.87
-8.14
8.98
173.84
2.96
25.46
-31.35
109.18
16.02
13.40
135.42
18.98
-9.56
12.11
121.30
-7.79
21.62
122.88
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
2,000
1,000
0
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
3,722
3,722
1,056
352.47
176.23
3,649
3,649
1,083
336.96
168.48
4,823
4,823
1,455
331.47
165.74
6,324
6,324
1,494
423.13
211.57
6,002
6,002
1,160
517.53
258.76
-0.40
-9.44
-22.22
198.92
-14.75
25.86
128.95
-287
-581
-577
NM
79.35
214.26
111.20
-316
642
24
NM
119.98
243.28
148.71
110
123
0
0.00
129.21
184.67
119.83
240
-67
0
0.00
115.09
262.16
94.57
120
26
0
0.00
58.08
251.55
49.78
Emergency Medicine Prof Assr (Las Vegas, NV)
2008Y
2009Y
2010Y
2011Y
2012Y
3,802
0
2,257
0
0
4,617
0
1,987
0
0
4,631
0
3,260
0
0
6,106
0
1,510
0
0
4,711
412
3,109
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,553
0
7,612
299
751
3,035
0
11,697
0
2,542
0
9,145
493
82
2,805
0
12,525
0
623
0
8,514
558
260
4,397
0
13,729
0
3,993
0
11,609
357
754
10,182
0
22,902
0
3,365
0
11,597
322
611
8,571
0
21,100
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
3,239
1,908
5,147
1,471
681
631
0
45
4,655
1,688
6,343
1,773
374
350
0
37
4,564
1,967
6,531
1,453
84
838
0
0
4,991
2,779
7,770
1,929
27
943
0
5,910
4,536
3,203
7,739
1,573
2,670
170
0
2,945
Total Liabilities
7,975
8,877
8,906
16,578
15,098
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Total Real Estate
Other Investments
Surplus Notes
Unassigned Surplus
Capital & Surplus
0
0
0
-1,403
5,125
3,722
0
0
0
-1,130
4,778
3,649
0
0
0
-607
5,429
4,823
0
0
0
514
5,810
6,324
0
0
0
239
5,763
6,002
11,697
12,525
13,729
22,902
21,100
2008Y
2009Y
2010Y
2011Y
2012Y
0
7,039
0
7,039
0
7,303
0
7,303
0
7,715
0
7,715
0
8,424
0
8,424
0
4,431
0
4,431
-3,288
3,750
-42
3,793
-3,036
4,268
302
3,966
-2,238
5,478
-320
5,797
-2,028
6,396
475
5,921
-739
3,692
-356
4,047
0
800
0
800
401
0
529
0
362
0
362
692
0
1,416
0
1,817
0
1,817
942
0
-90
0
560
0
560
866
0
427
0
1,308
0
1,308
1,006
0
-455
0
29
558
1,760
2,188
0
0
-155
0
3,948
0
-220
1,196
2,250
2,085
0
0
-369
0
4,335
0
278
188
2,947
2,891
0
0
-40
0
5,837
0
812
1,239
2,665
2,787
0
0
469
0
5,452
0
424
-31
2,283
1,938
0
0
-174
786
4,221
Income ($000)
All Other Income
Federal Income Tax
Net Income
162
-287
0
0
-280
-79
-201
197
-316
0
0
-488
-97
-392
245
110
0
0
315
-85
400
226
240
0
0
935
300
635
226
120
0
0
-613
-312
-301
Revenue
Net Premiums Earned
Net Losses Paid
Net LAE Paid
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
162
287
-287
-581
7,612
0
3,802
0
2,257
0
0
197
316
-316
642
9,145
0
4,617
0
1,987
0
0
245
110
123
8,514
0
4,631
0
3,260
0
0
226
240
-67
11,609
0
6,106
0
1,510
0
0
226
120
26
11,597
0
4,711
412
3,109
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
2008Y
2009Y
2010Y
2011Y
2012Y
3,802
0
4,617
0
4,631
0
6,106
0
4,240
471
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
0
0
0
0
3,414
0
0
0
3,386
0
0
0
2,264
0
0
0
3,574
0
0
0
2,598
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
4,711
3,109
412
8,232
4,711
3,109
412
8,232
4,643
2,894
407
7,944
4,310
--4,310
18,375
9,112
1,231
--
LT Bond
Common Stock
Preferred Stock
Total
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.00
0.00
0.00
49.94
60.65
29.66
0.00
20.40
0.00
NA
0.00
0.00
0.00
2.56
6.42
1.00
0.00
0.00
50.48
54.45
21.72
0.00
27.79
0.00
NA
0.00
0.00
0.00
3.94
0.66
1.00
0.00
0.00
54.39
67.59
38.29
0.00
7.32
0.00
NA
0.00
0.00
0.00
4.07
1.89
1.00
0.00
0.00
52.60
23.87
13.00
0.00
34.40
0.00
NA
0.00
0.00
0.00
1.56
3.29
1.10
0.00
0.00
40.63
51.80
26.81
6.87
29.01
0.00
NA
0.00
0.00
0.00
1.52
2.89
0.00
25.95
65.08
1.38
0.00
22.39
73.02
1.58
0.00
32.03
62.02
1.78
0.00
44.46
50.69
0.99
0.00
40.62
54.96
1.07
Ohio - 20.2%
Indiana - 19.7%
Florida - 18.5%
Kentucky - 13.7%
Oklahoma - 8.9%
All other - 19.1%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
-734
4,394
4,472
Bonds - 40.6%
695
6,387
3,743
0
RMBS Exposure
All Other - 0.0%
DPW ($000)
895
872
820
606
392
846
205
6,152
3,147
CMBS Exposure
Rank and States
1. Ohio
2. Indiana
3. Florida
4. Kentucky
5. Oklahoma
All Other
-172
3,847
3,162
Class 6
7
3,667
2,743
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
4,431
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
7,039
50.86
0.00
28.52
7,303
50.96
0.00
12.35
7,715
36.14
0.00
4.79
8,424
12.12
0.00
-9.05
4,431
28.24
when
pooling
h an iinter-company
t
i t
Global Hawk Insurance Co a RRG (Burlington, VT)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
84 Pine Street
Suite 450
Burlington, VT 05401-4467
MSA: Burlington-South Burlington, VT (Metro)
Total Assets
Total Liabilities
Net Income
Total Revenue
4,235
1,949
2,286
-288
2,299
5,914
3,117
2,797
-28
671
7,474
4,171
3,303
1,387
2,734
9,768
4,348
5,419
221
4,047
14,224
4,671
9,553
294
6,218
Net Premiums Earned
-1,150
750
2,168
2,081
1,873
647
3,637
3,610
2,714
5,403
4,995
4,006
8,790
8,177
6,196
2,183
148.73
-15.44
0.39
1,426
240.71
-0.99
0.60
1,327
55.46
40.45
0.87
2,076
48.39
5.74
1.15
4,035
44.36
6.29
1.75
Credit Ratings
Rating
-A
----
Date
-04/08/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Stephen M. Brown
(802) 651-0168
(802) 651-0175
steve.brown@kane-group.com
Total Assets
CapRisk Consulting Group
--Jasbir S. Thandi
2009Y
2010Y
2011Y
2012Y
12,000
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2.65
17.45
-15.44
-3.99
49.99
200.32
39.74
250.31
244.28
6.04
0.00
0.64
1.28
-0.99
-0.57
48.06
20.74
-37.90
68.79
65.08
3.71
0.00
0.41
0.55
40.45
20.82
13.14
27.42
1.06
40.57
39.83
0.74
0.00
0.61
0.82
5.74
2.66
62.88
26.16
47.92
89.04
88.01
1.03
0.00
0.25
0.27
6.29
2.54
64.25
23.76
47.66
88.01
87.65
0.36
0.00
10,000
Combined Ratio
50.00
40.00
88.0
14,000
2008Y
250.3
30.00
20.00
72.0
64.0
52.0
53.0
2009Y
2010Y
8,000
6,000
4,000
2,000
0
2008Y
89.0
68.8
-10.00
40.6
-20.00
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
10.25
104.64
0.00
2.44
93.25
-1,150
1,084
1,503
-419
NM
0.00
-12.52
85.95
6.14
0.00
1.10
13.50
2,081
311
388
-52
90.00
0.00
-4.19
12.08
11.22
0.00
2.19
14.01
3,637
357
990
1,367
99.27
0.00
50.73
14.96
14.14
0.00
2.41
9.61
5,403
2,519
1,307
180
92.44
0.00
5.47
16.59
16.66
0.00
2.22
4.89
8,790
3,981
1,943
272
93.03
0.00
4.73
Premiums ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
0
NM
NA
0.00
0
0
167
90.00
0.00
0.00
0
0
287
99.27
0.00
0.00
0
0
-129
92.44
0.00
0.00
0
0
-272
93.03
0.00
0.00
0
0
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
157.30
157.30
184.57
64.00
0.00
164.72
-3,031
-2,803
25.69
23.63
-41.81
36.03
133.04
32.33
52.00
0.00
146.65
-677
-643
52.04
51.33
-29.82
190.17
190.17
150.63
53.00
0.00
190.43
2,870
2,882
297.26
297.26
-10.44
138.55
138.55
172.67
72.00
0.00
142.24
1,809
1,834
158.08
158.62
-7.45
113.06
113.06
231.24
88.00
0.00
115.35
3,211
3,218
182.07
182.59
-3.05
2010Y
2011Y
2012Y
87
87
93*
0
44
0 4*
0.4*
124
115
38*
0
69
0 6*
0.6*
188
175
64*
0
88
0 2*
0.2*
4
1
72
25
6
1
83*
7
7
88
30
-4
11
-11
Over
Under
88.0
2011Y
10.00
0.00
16,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
34
25
-10
32*
100
--53
40
--14
20
---14
20
---24
25
--44*
2008Y
2009Y
2010Y
2011Y
2012Y
-57.28
-70.22
39.65
22.33
26.37
18.10
30.69
64.05
45.63
76.28
Net Income Growth
-79.43
NM
NM
-47.70
NM
362.43
10.65
34.22
149.60
NM
NM
-34.71
NM
254.44
19.11
35.29
92.75
NM
NM
-6.89
74.75
4.36
30.60
14.69
38.34
-84.04
-84.04
56.43
48.56
-2.35
17.61
3.98
63.72
32.89
32.89
94.34
62.69
4.47
15.87
7.49
10,000
Capital and Surplus
99.3
8,000
6,000
93.0
92.4
4,000
90.0
2,000
0
-2,000
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Reserves/ Equity
-47.70
8.27
55.58
148.73
8.53
79.37
112.05
-34.71
-3.02
13.32
240.71
-9.09
67.41
45.74
-6.89
-13.83
-23.87
55.46
-15.89
27.30
31.83
56.43
6.43
1.05
48.39
6.70
26.70
47.75
94.34
-3.70
11.21
44.36
-2.60
13.40
86.39
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
723.1
640.0
578.6
254.7
134.3
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
1,949
1,949
725
268.68
134.34
3,117
3,117
244
1,279.96
639.98
4,171
4,171
288
1,446.27
723.14
4,348
4,348
376
1,157.14
578.57
4,671
4,671
917
509.49
254.74
0
0
0
0.00
40.25
117.34
0.00
0
0
0
0.00
66.20
89.73
5.36
0
0
0
0.00
105.30
79.21
6.88
0
0
0
0.00
129.52
124.63
-2.97
0
0
0
0.00
174.96
204.53
-5.82
Global Hawk Insurance Co a RRG (Burlington, VT)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
0
0
0
0
0
0
0
2,713
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Occupied Properties
Properties for Sale
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
3,597
0
3,597
629
0
10
0
4,235
0
1,008
0
3,721
1,571
0
622
0
5,914
0
6,282
0
6,282
601
0
591
0
7,474
0
7,508
0
7,508
1,087
0
1,150
0
9,768
0
10,801
0
10,801
1,412
871
1,139
0
14,224
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
2,157
27
2,183
0
0
103
0
0
1,197
229
1,426
1,226
-30
149
0
27
998
329
1,327
2,122
-286
139
1
0
1,597
480
2,076
3,111
129
100
2
0
2,888
1,147
4,035
5,093
272
153
0
0
Total Liabilities
2,286
2,797
3,303
5,419
9,553
Surplus Notes
Unassigned Surplus
Capital & Surplus
1,064
0
600
-1,771
2,055
1,949
1,142
0
302
-1,764
3,438
3,117
1,212
0
202
-781
3,538
4,171
1,337
0
202
-728
3,538
4,348
1,567
0
0
-434
3,538
4,671
4,235
5,914
7,474
9,768
14,224
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
-1,150
0
-1,150
0
2,081
0
2,081
0
3,637
0
3,637
0
5,403
0
5,403
0
8,790
0
8,790
Net Premiums Earned
1,900
750
-1,418
2,168
-208
1,873
1,226
647
-26
3,610
897
2,714
-408
4,995
989
4,006
-613
8,177
1,981
6,196
Net Losses Paid
Net LAE Paid
0
2,266
0
2,266
836
0
-1,404
0
715
0
715
268
0
-960
0
227
0
227
314
0
-198
0
1,321
0
1,321
449
0
599
0
1,662
0
1,662
360
0
1,291
0
-614
-2,018
1,084
1,503
0
0
-419
0
2,587
0
288
-672
311
388
0
0
-52
0
700
0
14
-184
357
990
0
0
1,367
0
1,347
0
151
749
2,519
1,307
0
0
180
0
3,825
0
668
1,959
3,981
1,943
0
0
272
0
5,924
131
0
0
0
-288
0
-288
24
0
0
0
-28
0
-28
20
0
0
0
1,387
0
1,387
41
0
0
0
221
0
221
22
0
0
0
294
0
294
Income ($000)
All Other Income
Federal Income Tax
Net Income
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
131
0
0
3,597
0
0
0
0
0
0
24
0
0
3,721
0
0
0
2,713
0
0
20
0
0
6,282
0
0
0
0
0
0
41
0
0
7,508
0
0
0
0
0
0
22
0
0
10,801
0
0
0
0
0
0
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
221
294
4,047
1,794
6,218
2,251
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 0.0%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
0
0
0
0
0
0
0
0
0
0
0
0
0
--0
0
0
0
--
LT Bond
Common Stock
Preferred Stock
Total
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
14.84
0.00
NA
0.00
0.00
0.00
87.05
72.92
0.00
27.08
0.00
NA
0.00
0.00
0.00
26.57
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
8.04
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
11.13
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
9.93
6.13
0.00
0.24
84.92
3.09
0.00
10.51
62.92
0.41
0.00
7.90
84.05
0.27
0.23
11.78
76.87
0.42
0.00
8.01
75.93
0.16
California - 67.3%
Texas - 32.7%
Alaska - 0.0%
Alabama - 0.0%
Arkansas - 0.0%
All other - 0.0%
All Other - 0.0%
DPW ($000)
5,915
2,875
0
0
0
0
1,387
2,734
1,314
Class 6
Rank and States
1. California
2. Texas
3. Alaska
4. Alabama
5. Arkansas
All Other
-28
671
615
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
-288
2,299
2,347
Rank and LOBs
1. Comm'l Auto St
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Multi Prl
All Other
DPW ($000)
8,790
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.00
NA
-1,150
37.55
0.00
NA
2,081
-34.24
0.00
1.21
3,637
1.00
0.00
0.27
5,403
43.49
0.00
8.13
8,790
43.38
when
pooling
h an iinter-company
t
i t
HlthCare Industry Liab Recpl (Ann Arbor, MI)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
201 South Main Street
Suite 200
Ann Arbor, MI 48104-2153
MSA: Ann Arbor, MI (Metro)
Distribution Channel: General Agnt/Managing General Agnt,
Independent Agency
Total Assets
Total Liabilities
Net Income
Total Revenue
123,451
5,518
117,933
1,131
3,488
136,164
6,226
129,939
744
2,861
154,307
7,484
146,823
1,147
3,436
158,899
8,688
150,211
1,162
4,153
42,070
9,127
32,944
375
4,016
Net Premiums Earned
34,828
2,969
3,388
35,305
2,967
2,836
40,369
3,565
3,170
42,136
3,736
3,708
42,354
3,745
3,660
82,722
420.14
34.05
0.54
95,933
3,135.50
21.51
0.48
103,129
3,133.13
23.43
0.48
107,924
2,843.53
22.01
0.43
9,198
574.35
5.12
0.41
Credit Ratings
Rating
-A
----
Date
-03/13/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Peter M. Feeney
(734) 996-2700
(734) 996-1261
peter.feeney@chelsearhone.com
Total Assets
BDO USA LLP
Demotech Inc.
--Peter M. Feeney
160,000
2008Y
2009Y
2010Y
2011Y
2012Y
140,000
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
1.10
3.36
22.60
0.98
75.90
-26.52
51.40
49.38
46.44
2.94
0.00
0.20
0.85
12.58
0.58
73.08
-16.28
57.59
56.80
55.91
0.89
0.00
1.77
7.48
16.55
0.81
75.00
-15.81
52.50
59.19
50.78
8.41
0.00
2.54
11.90
14.30
0.76
79.79
-15.93
57.91
63.86
51.87
11.99
0.00
1.90
9.50
4.11
0.73
110.12
-12.84
69.13
97.28
87.56
9.72
0.00
120,000
Combined Ratio
25.00
97.3
20.00
15.00
10.00
832.0
721.0
100,000
80,000
60,000
40,000
20,000
101.0
0
2008Y
2009Y
0.00
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
24.50
-35.85
0.00
4.35
4.97
34,828
2,572
-787
1,604
8.52
33.63
48.84
15.49
-23.04
0.00
1.01
5.75
35,305
2,072
-483
1,246
8.40
41.51
44.45
22.50
-19.54
0.00
0.38
3.35
40,767
2,377
-564
1,356
8.75
29.98
47.23
21.88
-19.70
0.00
0.52
3.26
42,568
2,959
-595
1,345
8.78
37.77
43.08
40.99
-17.24
0.00
0.76
3.64
42,796
4,031
-481
110
8.75
16.16
11.61
2008Y
2009Y
2010Y
2011Y
2012Y
78,315
8.52
91.24
0.00
0
0
92,840
8.40
88.93
0.00
0
0
103,693
8.75
85.68
0.97
0
0
106,689
8.78
87.88
1.02
0
0
101,581
8.75
86.02
1.03
0
0
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
9.64
9.64
206.01
916.00
0.00
90.50
4,768
4,258
-526.94
-607.48
3.58
7.52
10.93
157.00
832.00
0.00
94.59
3,389
2,843
-629.00
-758.05
3.76
2.07
11.15
40.66
805.00
0.00
96.15
2,297
2,275
2,056.51
2,439.75
4.14
2.09
12.47
36.17
721.00
0.00
96.57
2,537
2,373
959.49
1,213.55
4.78
10.38
59.53
37.48
101.00
0.00
1,084.97
824
1,101
132.15
138.00
19.08
2010Y
2011Y
2012Y
545
48
20
74*
53
1 7*
1.7*
490
43
5
76*
51
2 5*
2.5*
469
41
0
75*
70
1 8*
1.8*
16
16
721*
21
4
3
177*
5
5
101*
34
10
12
1,146*
Over
Under
5.00
2008Y
805.0
63.9
59.2
56.8
49.4
916.0
Reserve coverage2
180,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
20
25
-10
20
100
--805*
40
--47*
20
---2
20
--3
25
---144
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
11.13
10.53
10.30
10.18
13.32
12.99
2.98
2.31
-73.52
-78.07
-15.94
-1.37
-1.45
NM
-8.57
25.53
35.97
25.93
-0.06
-25.35
-34.21
15.97
1.37
21.50
29.77
21.83
20.16
27.61
54.13
7.50
14.35
19.75
27.80
20.08
4.78
10.25
1.34
4.65
4.38
13.07
21.81
13.46
0.25
-73.93
-67.76
-91.48
0.52
-20.95
15.78
-17.65
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
8.8
8.7
Capital and Surplus
8.8
8.5
8.4
2008Y
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Reserves/ Equity
2009Y
2010Y
2011Y
2012Y
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
75.8
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
NM
5.13
6.60
420.14
6.64
3.31
1,499.12
15.97
3.59
7.82
3,135.50
6.98
3.44
1,540.89
7.50
-1.93
3.00
3,133.13
-3.79
3.17
1,378.01
4.65
3.98
2.70
2,843.53
8.04
3.16
1,242.17
-91.48
10.34
12.50
574.35
24.53
40.37
100.78
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
5,518
NA
NA
NA
NA
6,226
NA
NA
NA
NA
7,484
NA
NA
NA
NA
8,688
NA
NA
NA
NA
9,127
9,127
6,017
151.69
75.84
0
0
0
0.00
59.35
2,137.22
NM
0
-36
0
0.00
50.18
2,087.09
NM
15
112
0
0.00
51.47
1,961.85
NM
78
42
0
0.00
45.97
1,728.88
NM
-20
64
0
0.00
41.09
360.97
NM
HlthCare Industry Liab Recpl (Ann Arbor, MI)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
0
0
0
0
0
4,375
0
0
0
0
13,469
0
0
0
0
15,822
0
0
0
0
16,510
0
0
0
0
Occupied Properties
Properties for Sale
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,368
0
11,368
15,227
77,169
19,688
0
123,451
0
9,775
0
14,149
13,050
89,072
19,893
0
136,164
0
3,043
0
16,511
16,618
95,384
25,794
0
154,307
0
3,142
0
18,965
14,501
99,623
25,810
0
158,899
0
3,421
0
19,931
15,756
289
6,094
0
42,070
58,145
24,577
82,722
16,375
13,867
4,269
0
700
71,996
23,937
95,933
17,171
11,910
4,180
0
745
81,585
21,544
103,129
21,884
15,218
5,605
0
987
84,019
23,904
107,924
22,197
13,217
5,948
0
926
7,084
2,114
9,198
2,002
14,367
6,410
0
967
117,933
129,939
146,823
150,211
32,944
Total Real Estate
Other Investments
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
Total Liabilities
Surplus Notes
Unassigned Surplus
Capital & Surplus
0
0
0
4,418
1,100
5,518
0
0
0
5,126
1,100
6,226
0
0
0
6,384
1,100
7,484
0
0
0
7,588
1,100
8,688
0
0
0
8,027
1,100
9,127
123,451
136,164
154,307
158,899
42,070
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
100
0
0
11,368
0
0
0
0
0
0
25
0
-36
14,149
0
4,430
0
0
0
0
267
15
112
16,511
0
13,327
0
0
0
0
445
78
42
18,965
0
15,594
0
0
0
0
356
20
-20
64
19,931
0
16,191
0
0
0
0
NA
0.00
NA
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
34,828
0
34,828
0
35,305
0
35,305
0
40,369
0
40,369
0
42,136
0
42,136
0
42,354
0
42,354
-31,859
2,969
-419
3,388
-32,338
2,967
132
2,836
-36,804
3,565
396
3,170
-38,400
3,736
28
3,708
-38,609
3,745
85
3,660
Net Losses Paid
Net LAE Paid
0
287
0
287
250
0
1,457
0
322
0
322
423
0
1,311
0
803
0
803
414
0
861
0
1,458
0
1,458
1,264
0
689
0
2,436
0
2,436
1,625
0
95
0
580
2,035
2,572
-787
0
0
1,604
0
1,784
0
16
1,326
2,072
-483
0
0
1,246
0
1,589
0
299
1,160
2,377
-564
0
0
1,356
0
1,813
0
-453
237
2,959
-595
0
0
1,345
0
2,364
0
-124
-30
4,031
-481
0
0
110
0
3,550
Income ($000)
All Other Income
Federal Income Tax
Net Income
100
0
0
0
1,704
573
1,131
25
0
0
0
1,272
528
744
267
15
0
0
1,638
491
1,147
445
78
0
0
1,867
705
1,162
356
-20
0
0
447
72
375
Net Premiums Earned
1,704
1,272
1,623
1,789
466
Memo: Total Revenue
Memo: Paid Expenses
3,488
54
2,861
32
3,451
-1,370
4,231
175
3,997
714
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
4,430
0
13,327
0
15,594
0
16,191
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
0
Bonds - 82.8%
CMBS Exposure
2011Y
2012Y
0
121
4,486
2,000
1,043
2,449
3,264
3,836
0
1,533
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
LT Bond
Common Stock
Preferred Stock
Total
16,191
0
0
16,191
16,510
0
0
16,510
16,519
0
0
16,519
15,323
--15,323
64,543
0
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
12.33
62.51
1.00
0.00
0.00
30.92
0.00
0.00
0.00
69.08
0.00
NA
0.00
0.00
0.00
9.58
65.42
1.00
0.00
0.00
81.57
0.00
0.00
0.00
18.43
0.00
NA
0.00
0.00
0.00
10.77
61.81
1.00
0.00
0.00
83.43
0.00
0.00
0.00
16.57
0.00
NA
0.00
0.00
0.00
9.13
62.70
1.00
0.00
0.00
82.84
0.00
0.00
0.00
17.16
0.00
NA
0.00
0.00
0.00
37.45
0.69
0.00
15.95
9.21
0.08
0.00
14.61
10.39
0.02
0.00
16.72
10.70
0.17
0.00
16.24
11.93
0.28
0.00
14.48
47.38
0.85
2011Y
2012Y
0.01
5.73
40,369
52.50
0.01
3.59
42,136
50.04
0.01
2.14
42,354
63.50
when
pooling
h an iinter-company
t
i t
2010Y
2,709
0
0
0
2010Y
All Other
2009Y
0
0
0
0
0.01
NA
35,305
53.63
DPW ($000)
2008Y
694
2009Y
Rank and LOBs
1.00
0
0.01
NA
34,828
51.99
DPW ($000)
7,708
4,411
3,231
2,467
1,838
22,699
0.80
0
0
0
0
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
All other - 53.6%
Rank and States
1. Michigan
2. Illinois
3. Ohio
4. Tennessee
5. North Carolina
All Other
0.60
0
2008Y
Tennessee - 5.8%
0.40
0
0
0
0
Ohio - 7.6%
0.20
Common Stocks / C&S
Illinois - 10.4%
0.00
RMBS Exposure
Michigan - 18.2%
2012Y
2011Y
2010Y
2009Y
2008Y
J.M. Woodworth RRG Inc. (Alpharetta, GA)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
3655 Brookside Parkway
Suite 200
Alpharetta, GA 30022-1430
Geographic Focus: Regional - Northeastern Quadrant
Total Assets
Total Liabilities
Net Income
Total Revenue
8,631
5,089
3,542
166
2,304
11,845
5,152
6,693
-861
3,342
14,005
5,165
8,840
-334
4,427
16,584
4,254
12,330
-968
7,032
20,928
4,388
16,541
-210
7,386
Net Premiums Earned
3,913
3,159
2,269
5,878
4,034
3,266
7,483
4,941
4,386
8,460
7,906
6,962
9,923
8,863
7,315
979
22.33
-4.90
0.62
1,765
38.13
-17.62
0.78
3,309
51.97
-9.76
0.96
7,750
84.48
-33.53
1.86
10,922
126.92
-9.47
2.02
Credit Ratings
Rating
-A
----
Date
-03/13/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Carolyn Verde
(678) 781-2400
(678) 781-2450
cverde@usre.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Johnson Lambert LLP
Deloitte Consulting LLP
--Seth Evan Kronenberg
2008Y
2009Y
2010Y
2011Y
2012Y
0.47
0.51
5.09
3.08
48.06
43.47
18.55
91.53
90.82
0.71
0.00
1.17
1.68
-17.45
-8.95
65.36
51.48
28.38
116.84
114.77
2.07
0.00
0.54
0.83
-6.66
-2.69
63.22
43.39
45.29
106.61
105.68
0.93
0.00
0.77
0.89
-20.78
-5.92
86.32
32.69
47.80
119.01
118.00
1.01
0.00
0.55
0.80
-4.80
-1.15
71.71
28.84
40.62
100.55
99.58
0.97
0.00
Combined Ratio
10.00
5.00
119.0
116.8
106.6
0.00
100.5
91.5
-5.00
97.0
20,000
-20.00
-25.00
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
29.51
5.68
0.00
2.95
34.84
3,913
1,090
1,373
-195
80.75
NM
-6.96
36.98
6.20
0.00
2.32
42.96
5,878
2,135
2,077
-946
68.63
NM
-26.02
17.93
10.67
0.00
4.73
27.99
7,483
2,773
2,144
-531
66.03
NM
-11.06
38.52
7.23
0.00
2.45
23.01
8,460
6,009
2,585
-1,632
93.45
NM
-22.21
31.10
7.57
0.00
2.73
18.53
9,923
5,245
2,556
-486
89.31
NM
-5.61
2008Y
2009Y
2010Y
2011Y
2012Y
-90
80.75
0.00
0.00
0
0
-879
68.63
0.00
0.00
0
0
-953
66.03
0.00
0.00
0
0
2,096
93.45
0.00
0.00
0
0
2,182
89.31
0.00
0.00
0
0
101.0
2010Y
2011Y
107.0
57.0
10,000
5,000
0
2008Y
2009Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
11.02
162.45
7.67
57.00
0.00
230.58
1,751
1,711
256.66
256.66
-9.70
25.30
99.37
32.87
97.00
0.00
143.89
-42
99
98.70
98.70
-14.61
14.39
93.55
24.62
101.00
0.00
119.74
1,434
1,454
138.31
138.31
-14.06
26.33
94.77
76.30
101.00
0.00
119.89
3,475
3,565
243.83
242.99
-17.81
17.10
87.12
64.45
107.00
0.00
102.33
2,500
2,595
148.44
148.44
-15.11
2010Y
2011Y
2012Y
145
96
22
0
110*
0 5*
0.5*
199
186
60*
1
113*
0 7*
0.7*
226
202
12
0
108*
0 5*
0.5*
-18*
-19*
101*
17
48*
68*
57*
3
-5
107*
17
-13
39*
-61
Over
Under
-15.00
101.0
15,000
-10.00
2008Y
25,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
0
25
-10
-5
100
--101*
40
--12
20
--1
20
--3
25
---19
2008Y
2009Y
2010Y
2011Y
2012Y
124.84
144.62
37.24
88.95
18.23
32.08
18.41
39.48
26.20
34.15
Net Income Growth
508.32
NM
NM
755.83
310.39
NA
NA
NA
27.69
NM
NM
80.34
50.24
75.14
35.97
53.18
22.47
NM
NM
87.50
27.29
63.21
25.99
43.58
60.02
NM
NM
134.19
13.07
58.16
15.73
38.15
12.10
NM
NM
40.92
17.29
62.76
12.91
40.38
12,000
10,000
93.4
Capital and Surplus
89.3
80.8
68.6
8,000
66.0
6,000
4,000
6,000
2,000
5,000
0
4,000
2008Y
2009Y
2010Y
2011Y
2012Y
458.8
272.7
3,000
249.8
2,000
Asbestos
Environmental
Combined
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
755.83
7.36
-0.97
22.33
7.76
28.08
19.23
80.34
5.40
1.34
38.13
8.42
31.19
34.26
87.50
0.74
3.00
51.97
0.87
43.86
64.07
134.19
47.98
67.75
84.48
35.59
40.28
182.18
Asbestos
Environmental
Combined
145.6
146.0
2011Y
2012Y
1,000
0
2008Y
2009Y
2010Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
5,089
5,089
555
917.53
458.76
5,152
5,152
945
545.30
272.65
5,165
5,165
1,034
499.68
249.84
4,254
4,254
1,461
291.17
145.59
4,388
4,388
1,502
292.08
146.04
40.92
-12.95
39.47
126.92
-7.53
32.66
248.93
8
30
0
0.00
96.65
69.60
-1.77
-46
-32
0
0.00
81.76
129.90
-17.06
-10
95
0
0.00
98.48
171.15
-18.45
74
-16
0
0.00
169.73
289.82
49.27
86
2
0
0.00
202.38
376.98
49.73
J.M. Woodworth RRG Inc. (Alpharetta, GA)
2008Y
2009Y
2010Y
2011Y
2012Y
5,364
0
0
0
0
4,957
0
0
0
0
6,998
0
0
0
0
8,438
0
0
0
0
10,580
0
1,003
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
390
0
5,755
660
900
1,317
0
8,631
0
1,694
0
6,651
905
2,848
1,442
0
11,845
0
1,272
0
8,269
1,025
2,973
1,738
0
14,005
0
3,246
0
11,684
1,245
1,136
2,518
0
16,584
0
2,828
0
14,411
1,849
1,765
2,904
0
20,928
Net Losses Paid
Net LAE Paid
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
421
558
979
1,478
753
244
0
88
748
1,017
1,765
2,246
2,034
505
0
143
2,297
1,012
3,309
2,801
2,391
259
0
80
5,110
2,641
7,750
3,744
597
158
0
79
7,431
3,492
10,922
5,292
0
255
0
71
Total Liabilities
3,542
6,693
8,840
12,330
16,541
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
3,913
0
3,913
0
5,878
0
5,878
0
7,483
0
7,483
0
8,460
0
8,460
0
9,923
0
9,923
Net Premiums Earned
-753
3,159
891
2,269
-1,844
4,034
768
3,266
-2,542
4,941
554
4,386
-555
7,906
943
6,962
-1,061
8,863
1,548
7,315
0
0
0
0
226
0
421
0
600
0
600
748
0
327
0
437
0
437
792
0
1,549
0
515
0
515
1,053
0
2,813
0
650
0
650
1,424
0
2,321
0
444
864
1,090
1,373
0
0
-195
0
2,464
0
460
786
2,135
2,077
0
0
-946
0
4,211
0
-5
1,544
2,773
2,144
0
0
-531
0
4,917
0
1,628
4,441
6,009
2,585
0
0
-1,632
0
8,594
0
851
3,172
5,245
2,556
0
0
-486
0
7,801
16
8
0
19
-153
-319
166
68
-46
0
8
-915
-54
-861
41
-10
0
0
-499
-165
-334
70
74
0
0
-1,488
-520
-968
71
86
0
1
-329
-119
-210
Surplus Notes
Unassigned Surplus
Capital & Surplus
41
0
2,150
-837
3,736
5,089
50
0
2,150
-1,730
4,683
5,152
52
0
2,150
-1,970
4,933
5,165
55
0
1,950
-2,954
5,203
4,254
58
0
1,950
-3,161
5,541
4,388
Income ($000)
All Other Income
Federal Income Tax
Net Income
8,631
11,845
14,005
16,584
20,928
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
16
8
30
5,755
0
5,364
0
0
0
0
68
46
-46
-32
6,651
0
4,957
0
0
0
0
41
10
-10
95
8,269
0
6,998
0
0
0
0
70
74
-16
11,684
0
8,438
0
0
0
0
71
86
2
14,411
0
10,580
0
1,003
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
New Jersey - 0.2%
Connecticut - 0.2%
Alaska - 0.0%
Alabama - 0.0%
All other - 0.0%
Rank and States
1. New York
2. New Jersey
3. Connecticut
4. Alaska
5. Alabama
All Other
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
DPW ($000)
9,883
23
17
0
0
0
Rank and LOBs
DPW ($000)
All Other
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
3,913
17.09
0.00
NA
5,878
23.18
0.00
NA
7,483
29.90
0.00
72.05
8,460
59.68
0.00
59.76
9,923
33.52
when
pooling
h an iinter-company
t
i t
-490
-1,562
-415
4,417
3,205
7,106
3,766
7,472
3,920
2008Y
2009Y
2010Y
2011Y
2012Y
5,364
0
4,957
0
6,998
0
8,438
0
10,580
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 73.4%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
2,853
RMBS Exposure
0
0
0
0
543
0
0
0
0
0
0
0
0
0
0
997
0
0
0
1,488
0
0
0
1,256
0
New York - 99.6%
-870
3,296
2,580
Class 6
-160
2,311
1,596
Carr Value
Fair Value
Actual Cost
Par Value
Total
LT Bond
Common Stock
Preferred Stock
Total
10,580
1,003
0
11,583
10,580
1,003
0
11,583
10,556
1,003
0
11,559
10,268
--10,268
41,983
3,008
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Common Stocks / C&S
1.00
0.00
0.00
93.22
0.00
0.00
0.00
6.78
0.00
NA
0.00
0.00
0.00
7.65
10.43
1.00
0.00
0.00
74.53
0.00
0.00
0.00
25.47
0.00
NA
0.00
0.00
0.00
7.64
24.04
1.00
0.00
0.00
84.62
0.00
0.00
0.00
15.38
0.00
NA
0.00
0.00
0.00
7.32
21.23
1.00
0.00
0.00
72.22
0.00
0.00
0.00
27.78
0.00
NA
0.00
0.00
0.00
7.51
6.85
1.00
0.00
0.00
73.42
22.86
6.96
0.00
19.62
0.00
NA
0.00
0.00
0.00
8.83
8.43
0.00
15.26
66.67
0.19
0.00
12.18
56.15
0.57
0.00
12.41
59.05
0.29
0.00
15.19
70.46
0.42
0.00
13.88
68.86
0.34
Lancet Indemnity RRG Inc. (Las Vegas, NV)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
9550 South Eastern Avenue
Suite 253
Las Vegas, NV 89123-8042
MSA: Las Vegas-Paradise, NV (Metro)
Total Assets
Total Liabilities
Net Income
Total Revenue
1,210
511
698
-34
277
6,273
1,058
5,214
221
1,833
7,994
2,006
5,987
337
4,983
12,880
2,774
10,106
86
6,278
16,579
3,728
12,851
-451
9,217
Net Premiums Earned
647
647
277
5,499
4,873
1,827
5,805
5,406
4,919
8,826
6,467
6,182
11,327
9,145
8,980
118
NA
NA
1.27
818
24.02
47.55
4.60
2,113
29.97
32.01
2.69
4,057
48.25
5.36
2.33
7,020
60.49
-20.84
2.45
Credit Ratings
Rating
-A
----
Date
-03/13/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Gemma Agustin Tuanqui
(800) 226-0793
(941) 906-7538
gtuanqui@pboa.com
2008Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2009Y
NA
0.02
NA
NA
42.80
30.62
32.10
73.42
73.37
0.04
0.00
Total Assets
Milliman Inc.
--Alan Joseph Iezzi
0.36
0.13
32.12
7.05
41.34
15.39
22.42
56.74
56.40
0.33
0.00
2010Y
2011Y
1.45
1.18
21.09
4.94
54.46
33.16
35.76
87.63
86.32
1.30
0.00
0.49
0.48
3.46
0.88
58.89
38.72
21.49
97.61
97.11
0.50
0.00
16,000
2012Y
14,000
0.85
0.86
-13.88
-3.31
74.58
34.96
22.12
109.54
108.67
0.87
0.00
12,000
Combined Ratio
40.00
109.5
30.00
97.6
87.6
20.00
73.4
10.00
157.0
143.0
-20.00
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
10.70
5.91
0.00
2.57
22.14
647
118
198
-40
100.00
NM
-14.36
18.92
4.55
0.00
0.69
10.16
5,499
755
750
322
88.60
32.45
17.88
18.71
10.39
0.00
1.49
21.28
5,805
2,679
1,793
447
93.11
34.10
10.26
37.39
16.04
0.00
0.83
21.85
8,826
3,640
2,504
37
73.27
35.43
2.12
52.46
10.55
0.00
0.24
24.17
11,327
6,697
3,197
-914
80.73
NM
-7.35
2008Y
2009Y
2010Y
2011Y
2012Y
0
100.00
NA
0.00
0
0
392
88.60
0.00
0.00
0
0
2,261
93.11
0.00
0.00
0
0
2,250
73.27
0.00
0.00
0
0
3,061
80.73
0.00
0.00
0
0
Premiums ($000)
132.0
2010Y
2011Y
118.0
8,000
6,000
4,000
2,000
0
2008Y
2009Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
63.54
63.54
86.77
157.00
0.00
90.80
384
385
466.24
466.24
-2.79
70.03
70.03
345.02
143.00
0.00
95.50
2,721
2,713
279.96
280.85
2.99
78.94
78.94
235.57
127.00
0.00
116.15
362
257
112.03
117.63
6.56
75.73
78.96
275.91
132.00
11.77
124.07
2,842
2,563
168.73
177.80
4.88
81.33
89.00
280.35
118.00
14.93
129.25
1,768
2,173
124.81
122.38
1.99
2010Y
2011Y
2012Y
289
269
11
0
75
1 5*
1.5*
318
233
20
0
92
0 5*
0.5*
304
245
41*
0
103*
0 8*
0.8*
38
5
132*
102*
9
7
-40
34
-11*
118*
82*
40*
39*
-17
Over
Under
-10.00
127.0
10,000
56.7
0.00
2008Y
18,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
90*
25
-10
32*
100
--127*
40
--88*
20
--22*
20
---22
25
---33
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
418.58
646.78
27.44
14.83
61.12
68.79
28.72
27.16
Net Income Growth
NA
NA
NA
NA
NA
NA
NA
NA
653.26
NM
NM
591.14
750.13
NA
NA
NA
10.94
55.96
52.14
158.31
5.57
NA
NA
NA
19.63
-73.94
-74.46
91.98
52.03
143.70
75.71
120.00
41.40
NM
NM
73.01
28.34
107.12
64.32
92.41
12,000
10,000
100.0
Capital and Surplus
93.1
88.6
8,000
80.7
73.3
6,000
4,000
2,000
0
2008Y
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Reserves/ Equity
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
306.3
168.5
2008Y
2009Y
115.7
119.0
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
511
511
83
612.55
306.27
1,058
1,058
314
337.05
168.52
2,006
2,006
798
251.33
125.66
2,774
2,774
1,199
231.42
115.71
3,728
3,728
1,566
238.04
119.02
0
0
0
0.00
NA
136.55
0.00
0
0
0
0.00
706.83
492.71
37.04
0
0
0
0.00
338.50
298.40
112.68
0
17
0
0.00
260.24
364.33
81.11
0
153
0
0.00
281.36
344.70
82.11
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
NA
NA
0.00
NA
0.00
75.00
23.15
591.14
-19.95
0.00
24.02
-5.58
45.03
77.31
158.31
22.02
-22.49
29.97
4.74
47.86
105.33
91.98
9.27
7.18
48.25
3.01
28.04
146.27
73.01
39.61
39.24
60.49
12.24
32.94
188.29
125.7
Lancet Indemnity RRG Inc. (Las Vegas, NV)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
326
0
0
0
0
985
0
0
Occupied Properties
Properties for Sale
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
444
0
444
157
0
609
0
1,210
0
3,651
0
3,651
1,334
0
1,287
0
6,273
0
4,727
0
4,727
1,756
0
1,511
0
7,994
0
7,653
0
7,980
2,834
0
2,066
0
12,880
0
10,452
200
11,637
3,048
0
1,894
0
16,579
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
89
30
118
370
0
196
0
14
493
325
818
3,416
131
343
0
506
1,252
862
2,113
3,903
-1,447
647
0
771
2,098
1,960
4,057
4,188
-35
1,046
0
851
3,215
3,804
7,020
4,352
-127
894
0
712
Total Liabilities
698
5,214
5,987
10,106
12,851
Total Real Estate
Other Investments
Surplus Notes
Unassigned Surplus
Capital & Surplus
505
0
0
-34
41
511
298
0
75
188
497
1,058
29
0
75
524
1,378
2,006
27
0
75
628
2,044
2,774
28
0
75
330
3,295
3,728
1,210
6,273
7,994
12,880
16,579
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
326
0
0
0
326
557
0
0
0
557
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
0
0
0
444
0
0
0
0
0
0
6
0
0
3,651
0
0
0
0
0
0
64
0
0
4,727
0
0
0
0
0
0
31
0
17
7,980
326
0
0
326
0
0
78
0
153
11,637
557
0
0
985
0
0
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
647
0
647
0
5,499
0
5,499
0
5,805
0
5,805
0
8,826
0
8,826
0
11,327
0
11,327
Net Premiums Earned
0
647
370
277
-627
4,873
3,045
1,827
-400
5,406
487
4,919
-2,359
6,467
285
6,182
-2,183
9,145
165
8,980
0
0
0
0
0
0
89
0
5
0
5
51
0
405
0
1,001
0
1,001
383
0
758
0
483
0
483
1,214
0
846
0
869
0
869
2,866
0
1,117
0
30
118
118
198
0
0
-40
0
316
0
295
700
755
750
0
0
322
0
1,505
0
537
1,295
2,679
1,793
0
0
447
0
4,471
0
1,098
1,944
3,640
2,504
0
0
37
0
6,144
0
1,845
2,962
6,697
3,197
0
0
-914
0
9,894
Income ($000)
All Other Income
Federal Income Tax
Net Income
0
0
0
0
-40
-6
-34
6
0
0
0
328
106
221
64
0
0
0
511
174
337
31
0
65
0
133
47
86
78
0
159
0
-677
-226
-451
Net Losses Paid
Net LAE Paid
-40
328
511
133
-677
Memo: Total Revenue
Memo: Paid Expenses
277
105
1,833
1,507
4,983
2,008
6,278
3,701
9,217
6,259
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
0
Bonds - 0.0%
0.60
0.80
1.00
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
RMBS Exposure
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
0
985
0
985
0
985
0
985
0
726
0
726
0
--0
0
2,696
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
12.95
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
21.27
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
21.97
0.00
NA
0.00
0.00
0.00
11.77
0.00
0.00
95.91
0.00
NA
0.00
0.00
0.00
22.00
0.00
NA
0.00
0.00
0.00
26.42
3.68
0.00
89.82
0.00
NA
0.00
0.00
1.72
18.39
0.00
0.00
50.37
36.68
0.01
0.00
20.52
58.21
0.10
0.00
18.90
59.13
0.80
0.00
16.04
61.96
0.24
0.00
11.42
70.19
0.47
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
647
32.10
0.00
NA
5,499
23.50
0.00
NA
5,805
36.90
0.00
NA
8,826
22.13
0.00
NA
11,327
26.35
California - 21.6%
Michigan - 13.2%
Georgia - 3.2%
Kentucky - 2.9%
All other - 7.8%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.40
LT Bond
Common Stock
Preferred Stock
Total
Florida - 51.3%
0.20
2008Y
Common Stocks / C&S
All Other - 0.0%
DPW ($000)
5,816
2,442
1,501
366
323
879
0.00
CMBS Exposure
Rank and States
1. Florida
2. California
3. Michigan
4. Georgia
5. Kentucky
All Other
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
11,327
0
0
0
0
0
when
pooling
h an iinter-company
t
i t
National Assisted Living RRG (Norcross, GA)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
3740 Davinci Court
Suite 130
Norcross, GA 30092-7634
Business Focus : Commercial General Liability Focus
Total Assets
Total Liabilities
Net Income
Total Revenue
6,059
2,567
3,492
225
1,929
6,323
2,978
3,345
157
1,850
6,958
2,981
3,978
169
2,060
6,955
3,088
3,868
263
1,867
7,604
3,493
4,111
290
1,617
Net Premiums Earned
1,786
1,786
1,889
2,001
2,001
1,828
1,873
1,873
1,947
1,540
1,540
1,750
1,462
1,462
1,440
2,454
120.32
11.32
0.70
2,235
137.02
14.14
0.67
2,597
126.31
7.80
0.63
2,721
158.53
8.41
0.50
2,916
203.92
8.99
0.42
Credit Ratings
Rating
-A
----
Date
-03/06/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Rose Patrick
(770) 255-4913
(770) 246-8536
rpatrick@venturecaptive.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Porter Keadle Moore LLC
Merlinos & Associates Inc.
--Guy Stephen Pierce
7,000
2008Y
2009Y
2010Y
2011Y
2012Y
6,000
1.08
3.31
8.63
3.82
43.92
45.03
26.40
88.94
85.81
3.13
0.00
0.56
1.55
6.20
2.58
36.67
41.07
15.07
77.74
76.04
1.70
0.00
1.84
6.07
6.21
2.54
49.67
47.04
33.91
96.71
90.87
5.84
0.00
2.31
9.88
8.97
3.72
44.68
54.42
23.88
99.10
90.41
8.69
0.00
2.51
12.10
8.82
3.90
43.96
47.10
28.18
91.06
78.77
12.29
0.00
5,000
10.00
9.00
8.00
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
Combined Ratio
99.1
96.7
88.9
91.1
77.7
63.0
61.0
59.0
4,000
57.0
3,000
56.0
2,000
1,000
0
2008Y
2009Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
17.51
10.13
0.00
5.58
29.32
1,786
830
792
255
100.00
34.01
15.30
21.60
8.80
0.00
5.02
27.24
2,001
670
822
335
100.00
28.45
19.36
15.77
10.01
0.00
6.16
30.88
1,873
967
881
99
100.00
36.38
10.29
20.80
10.90
0.00
6.74
36.78
1,540
782
838
130
100.00
22.45
13.22
15.77
9.76
0.00
6.20
31.15
1,462
633
689
118
100.00
15.94
18.27
2008Y
2009Y
2010Y
2011Y
2012Y
0
100.00
NA
0.00
0
0
0
100.00
NA
0.00
0
0
0
100.00
NA
0.00
0
0
0
100.00
NA
0.00
0
0
0
100.00
NA
0.00
0
0
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
13.84
158.88
18.83
63.00
0.00
170.78
669
925
158.66
142.28
2.25
159.60
174.55
179.25
57.00
0.00
182.20
225
142
113.80
120.83
9.79
23.91
170.33
31.91
61.00
0.00
187.15
526
579
135.70
138.98
13.07
12.99
174.08
16.27
59.00
0.00
193.10
-48
-4
96.90
104.13
15.27
13.12
177.80
15.44
56.00
0.00
201.72
344
457
130.52
135.80
19.37
2010Y
2011Y
2012Y
63
63
-6
0
84
1 9*
1.9*
50
50
-18
0
92
2 3*
2.3*
42
42
-5
0
86
2 6*
2.6*
4
2
59
3
-15
-26
-34
13
12
56
2
-12
-21
-35
Over
Under
2008Y
8,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
0
25
-10
-3
100
--61
40
--3
20
---13
20
---39
25
---29
2008Y
2009Y
2010Y
2011Y
2012Y
9.06
18.91
4.36
-4.22
10.05
18.92
-0.04
-2.76
9.33
6.28
Net Income Growth
-4.22
NM
NM
26.93
-4.22
53.50
13.38
27.77
12.05
21.38
-30.16
-8.90
12.05
28.38
12.75
19.51
-6.41
-40.84
7.41
16.17
-6.41
18.85
9.77
14.42
-17.80
16.43
55.98
4.79
-17.80
13.70
5.29
9.49
-5.03
19.72
10.20
7.16
-5.03
6.96
5.93
6.48
2,500
2,000
100.0
100.0
100.0
100.0
Capital and Surplus
100.0
1,500
1,000
500
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
26.93
-19.48
-9.70
120.32
-27.00
65.00
95.59
-8.90
-28.01
-42.69
137.02
-39.34
62.27
75.06
16.17
-12.86
-39.11
126.31
-19.67
69.38
87.11
4.79
-15.37
-26.02
158.53
-26.17
68.54
88.13
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
375.0
202.5
187.9
195.0
2010Y
2011Y
2012Y
158.2
2008Y
2009Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
2,567
2,567
811
316.45
158.22
2,978
2,978
397
750.06
375.03
2,981
2,981
736
405.00
202.50
3,088
3,088
822
375.84
187.92
3,493
3,493
895
390.10
195.05
7.16
-12.24
-20.69
203.92
-26.24
74.87
83.47
46
-342
0
0.00
68.52
136.04
0.00
-139
326
0
0.00
78.97
112.31
0.00
53
83
0
0.00
68.95
133.44
0.00
93
-161
0
0.00
52.49
125.27
0.00
50
195
0
0.00
44.48
117.67
0.00
National Assisted Living RRG (Norcross, GA)
2008Y
2009Y
2010Y
2011Y
2012Y
499
0
4,566
0
0
500
0
0
0
0
1,401
0
4,183
0
0
1,015
0
5,061
0
0
899
0
5,870
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
483
0
5,548
8
0
502
0
6,059
0
5,338
0
5,838
169
0
315
0
6,323
0
951
0
6,536
76
0
347
0
6,958
0
502
0
6,578
90
0
288
0
6,955
0
539
0
7,309
76
0
219
0
7,604
Net Losses Paid
Net LAE Paid
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
1,952
501
2,454
795
0
68
0
175
1,710
526
2,235
969
0
106
0
34
2,034
563
2,597
895
0
119
0
367
2,085
636
2,721
685
0
118
0
343
2,243
673
2,916
707
0
120
0
368
Total Liabilities
3,492
3,345
3,978
3,868
4,111
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
1,786
0
1,786
0
2,001
0
2,001
0
1,873
0
1,873
0
1,540
0
1,540
0
1,462
0
1,462
Net Premiums Earned
0
1,786
-103
1,889
0
2,001
174
1,828
0
1,873
-74
1,947
0
1,540
-210
1,750
0
1,462
22
1,440
0
56
0
56
253
0
443
0
518
0
518
370
0
-243
0
336
0
336
270
0
324
0
367
0
367
291
0
51
0
248
0
248
190
0
158
0
78
521
830
792
13
0
255
0
1,634
0
24
-218
670
822
0
0
335
0
1,492
0
37
361
967
881
0
0
99
0
1,848
0
73
124
782
838
0
0
130
0
1,620
0
37
195
633
689
0
0
118
0
1,322
59
46
0
-19
341
116
225
31
-139
0
-8
220
62
157
114
53
0
0
265
97
169
152
93
0
-35
339
76
263
177
50
0
0
345
55
290
Surplus Notes
Unassigned Surplus
Capital & Surplus
2,240
0
190
136
0
2,567
2,329
0
30
619
0
2,978
2,420
0
30
909
-378
2,981
2,454
0
30
1,062
-458
3,088
2,502
0
30
1,473
-511
3,493
Income ($000)
All Other Income
Federal Income Tax
Net Income
6,059
6,323
6,958
6,955
7,604
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
59
46
-342
5,548
0
499
0
4,566
0
0
31
139
-139
326
5,838
0
500
0
0
0
0
114
53
83
6,536
0
1,641
0
4,183
0
0
152
93
-161
6,578
0
1,170
0
5,061
0
0
177
50
195
7,309
0
899
0
5,870
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
499
0
500
0
1,641
0
1,170
0
899
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 12.3%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
899
5,870
0
6,770
899
5,870
0
6,770
876
5,793
0
6,670
812
--812
3,487
17,534
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.00
0.00
0.00
9.00
177.87
82.29
0.00
8.71
0.00
NA
0.00
0.00
0.00
0.14
0.00
1.00
0.00
0.00
8.56
0.00
0.00
0.00
91.44
0.00
NA
0.00
0.00
0.00
2.68
0.00
1.00
0.00
0.00
21.44
140.34
64.01
0.00
14.55
0.00
NA
0.00
0.00
0.00
1.09
0.00
1.00
0.00
0.00
15.43
163.90
76.94
0.00
7.64
0.00
NA
0.00
0.00
0.00
1.29
0.00
1.00
0.00
0.00
12.31
168.04
80.32
0.00
7.38
0.00
NA
0.00
0.00
0.00
1.00
0.00
0.00
8.29
91.57
0.98
0.00
4.99
92.33
0.49
0.00
4.99
93.92
1.63
0.00
4.14
94.57
2.19
0.00
2.88
96.12
2.33
Georgia - 3.9%
South Carolina - 3.2%
Virginia - 3.1%
All other - 0.2%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
295
1,667
986
Florida - 39.5%
247
1,959
1,254
LT Bond
Common Stock
Preferred Stock
Total
All Other - 0.0%
DPW ($000)
732
578
58
46
45
3
212
2,113
1,247
Class 6
Rank and States
1. North Carolina
2. Florida
3. Georgia
4. South Carolina
5. Virginia
All Other
358
1,712
1,228
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
295
1,975
1,144
Rank and LOBs
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
1,462
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
44.41
1,786
26.40
0.00
15.86
2,001
15.07
0.00
6.54
1,873
33.91
0.00
-0.75
1,540
23.88
0.00
-4.75
1,462
28.18
when
pooling
h an iinter-company
t
i t
National Guardian RRG (Traverse City, MI)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
4075 Copper Ridge Drive
Traverse City, MI 49684-7059
Geographic Focus: Regional - Midwestern Quadrant
Total Assets
Total Liabilities
Net Income
Total Revenue
18,231
3,484
14,747
470
4,360
15,912
3,662
12,250
127
716
16,442
4,626
11,816
889
2,607
15,823
5,529
10,294
890
2,672
16,314
5,980
10,334
516
2,744
Net Premiums Earned
11,354
3,975
4,016
11,335
676
583
11,953
2,102
2,386
12,140
2,555
2,527
13,150
2,507
2,585
13,046
324.96
12.75
1.14
10,419
2,104.56
5.93
0.18
9,980
437.85
29.95
0.45
9,295
392.75
24.30
0.46
8,820
348.77
12.87
0.42
MSA: Traverse City, MI (Micro)
Credit Ratings
Rating
-A
----
Date
-03/12/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Mark A. Burnheimer
(231) 946-6200
(231) 946-6006
mburnheimer@bc-legal.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Johnson Lambert LLP
Towers Watson & Co.
Derik K. King
-Mark A. Burnheimer
2008Y
2009Y
2010Y
2011Y
2012Y
2.90
8.65
15.37
2.65
91.52
7.41
31.58
98.93
90.37
8.56
0.00
1.03
19.79
3.59
0.65
32.59
46.78
-25.89
79.37
56.42
22.95
0.00
1.89
10.52
22.94
5.22
44.67
18.12
12.16
62.79
53.53
9.27
0.00
1.21
5.66
18.12
5.25
43.48
14.82
14.60
58.30
52.58
5.72
0.00
1.39
6.33
9.24
3.04
70.82
7.74
34.88
78.56
72.42
6.14
0.00
Combined Ratio
25.00
98.9
20.00
79.4
15.00
78.6
62.8
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
98.0
86.0
2008Y
2009Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
59.95
-10.29
0.00
4.46
13.24
12,020
3,675
295
46
33.07
-27.00
8.95
58.48
-140.19
0.00
44.36
142.61
12,197
190
316
77
5.54
54.08
29.37
32.51
-26.30
0.00
15.58
28.85
12,259
1,066
381
939
17.15
32.55
44.51
28.88
-21.06
0.00
12.54
23.35
12,348
1,099
379
1,050
20.69
30.35
44.70
35.94
-35.49
0.00
13.28
29.94
13,259
1,831
194
560
18.91
27.93
26.20
Premiums ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
654
33.07
0.00
5.54
0
388
-351
5.54
0.00
7.07
0
0
-868
17.15
0.00
2.49
0
0
-142
20.69
0.00
1.69
0
0
-125
18.91
0.00
0.82
0
0
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
35.55
95.11
150.48
98.00
0.00
114.07
1,432
1,800
170.67
174.78
10.88
10.25
101.27
34.27
94.00
0.00
113.56
-2,114
-1,891
48.29
52.56
13.59
34.94
123.12
89.24
86.00
0.00
126.29
450
834
158.53
139.65
19.01
29.18
130.90
54.33
85.00
0.00
125.34
-1,282
-1,638
63.12
82.17
25.46
39.07
141.86
67.51
70.00
0.00
139.84
652
737
157.87
180.52
27.46
2010Y
2011Y
2012Y
265
45
211*
0
55
1 7*
1.7*
223
46
22
0
53
1 1*
1.1*
222
42
-2
0
63
1 3*
1.3*
20
20
85
0
-26
-71
223*
8
8
70
0
-7
-30
6
Over
Under
2008Y
85.0
70.0
10.00
0.00
94.0
58.3
5.00
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
26
25
-10
26*
100
--86
40
--0
20
---47
20
---112
25
--228*
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
8.41
7.16
-12.72
-16.93
3.33
-3.54
-3.76
-12.88
3.10
0.38
-27.80
197.18
NM
5.36
-14.93
14.68
12.77
14.30
-83.00
-46.10
-72.92
-20.14
-0.16
7.87
5.62
7.32
211.20
451.56
597.90
-4.21
5.45
2.62
9.23
4.25
21.55
2.91
0.17
-6.86
1.56
-3.29
12.18
0.70
-1.88
-39.79
-42.04
-5.11
8.32
-5.57
14.39
-0.60
14,000
Capital and Surplus
33.1
12,000
10,000
20.7
8,000
18.9
17.1
6,000
7,000
4,000
210.2
5,000
0
2008Y
236.5
6,000
5.5
2,000
2009Y
2010Y
2011Y
168.1
4,000
2012Y
123.7
3,000
Asbestos
Environmental
Combined
2008Y
2009Y
2010Y
2011Y
2012Y
82.2
1,000
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
5.36
-47.51
-36.20
324.96
-36.13
41.54
374.49
-20.14
-65.05
-89.60
2,104.56
-388.99
42.88
284.50
-4.21
-46.91
-111.60
437.85
-72.00
40.29
215.73
-6.86
-25.94
-70.70
392.75
-47.48
39.65
168.12
Asbestos
Environmental
Combined
2,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
3,484
2,876
1,749
164.43
82.21
3,662
3,147
1,273
247.30
123.65
4,626
4,372
1,300
336.20
168.10
5,529
5,390
1,282
420.46
210.23
5,980
5,769
1,220
472.97
236.48
-5.11
-6.89
-30.30
348.77
-14.74
38.22
147.49
-20
-44
0
0.00
129.87
423.33
18.77
67
18
0
0.00
19.05
334.52
-9.58
158
13
0
0.00
54.25
255.43
-18.76
84
13
0
0.00
51.98
186.19
-2.57
-3
0
0
0.00
44.89
172.80
-2.09
National Guardian RRG (Traverse City, MI)
2008Y
2009Y
2010Y
2011Y
2012Y
8,763
90
407
0
0
11,190
117
0
0
0
9,270
137
0
0
0
8,887
0
0
0
0
8,422
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
5,242
0
14,502
364
2,480
885
0
18,231
0
1,255
0
12,562
361
2,027
963
0
15,912
0
4,128
0
13,535
76
2,075
756
0
16,442
0
3,004
0
11,891
83
3,109
741
0
15,823
0
4,037
0
12,459
1,535
1,661
660
0
16,314
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
8,256
4,790
13,046
241
537
83
0
840
6,665
3,753
10,419
334
880
192
0
425
6,433
3,547
9,980
50
868
204
0
715
5,899
3,396
9,295
78
142
232
0
548
5,625
3,195
8,820
0
125
184
0
1,204
Total Liabilities
14,747
12,250
11,816
10,294
10,334
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Surplus Notes
Unassigned Surplus
Capital & Surplus
600
0
500
1,984
400
3,484
600
0
500
2,162
400
3,662
600
0
500
3,126
400
4,626
600
0
500
4,029
400
5,529
600
0
500
4,480
400
5,980
18,231
15,912
16,442
15,823
16,314
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
11,354
0
11,354
0
11,335
0
11,335
0
11,953
0
11,953
0
12,140
0
12,140
0
13,150
0
13,150
Net Premiums Earned
-7,379
3,975
-41
4,016
-10,660
676
93
583
-9,851
2,102
-284
2,386
-9,584
2,555
28
2,527
-10,643
2,507
-78
2,585
Net Losses Paid
Net LAE Paid
0
1,696
0
1,696
1,316
0
-428
0
1,440
0
1,440
1,377
0
-1,591
0
523
0
523
982
0
-233
0
903
0
903
880
0
-534
0
1,175
0
1,175
1,131
0
-273
0
1,092
664
3,675
295
0
0
46
0
3,970
0
-1,037
-2,627
190
316
0
0
77
0
506
0
-206
-439
1,066
381
0
0
939
0
1,447
0
-150
-684
1,099
379
0
0
1,050
0
1,478
0
-202
-475
1,831
194
0
0
560
0
2,025
Income ($000)
All Other Income
Federal Income Tax
Net Income
344
-20
1
0
370
-100
470
134
67
0
0
277
150
127
221
158
0
0
1,318
429
889
145
84
0
0
1,278
388
890
159
-3
0
0
716
200
516
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
344
20
-20
-44
14,502
0
8,887
90
407
0
0
134
67
18
12,562
0
11,222
117
0
0
0
221
158
13
13,535
0
10,441
137
0
0
0
145
84
13
11,891
0
10,471
0
0
0
0
159
3
-3
0
12,459
0
10,622
0
0
0
0
0.00
0.00
5.74
NA
0.00
NA
NA
0.00
0.00
0.63
NA
0.00
NA
NA
0.00
0.00
0.20
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
2012Y
8,377
0
10,769
382
9,932
488
10,471
0
10,622
0
450
0
0
70
0
0
21
0
0
0
0
0
0
0
0
0
0
0
0
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
2.00
4.00
6.00
8.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
1,065
895
0
0
0
0
292
106
0
0
288
216
21
0
304
664
271
0
279
2,428
518
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
8,422
0
0
8,422
8,763
0
0
8,763
8,703
0
0
8,703
7,943
--7,943
33,830
0
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
1.14
14.64
1.72
60.43
11.67
2.80
2.58
36.15
0.00
NA
0.00
0.00
0.00
2.00
13.60
1.05
1.92
0.00
89.08
0.00
0.00
3.19
9.99
0.00
NA
0.00
0.00
0.00
2.27
12.74
1.05
0.46
0.00
68.49
0.00
0.00
2.95
30.50
0.00
NA
0.00
0.00
0.00
0.46
12.62
1.00
0.00
0.00
74.74
0.00
0.00
0.00
25.26
0.00
NA
0.00
0.00
0.00
0.53
19.65
1.00
0.00
0.00
67.59
0.00
0.00
0.00
32.41
0.00
NA
0.00
0.00
0.00
9.41
10.18
0.00
4.86
79.55
1.89
0.00
6.05
78.95
0.84
0.00
4.60
82.32
1.34
0.00
4.68
75.15
0.91
0.00
4.04
76.37
0.97
2009Y
2010Y
2011Y
2012Y
0.00
6.76
11,354
33.67
0.00
0.77
11,335
46.38
0.00
-2.25
11,953
30.29
0.00
-4.52
12,140
23.36
0.00
-0.30
13,150
36.87
DPW ($000)
3,307
2,008
1,978
1,675
1,009
3,173
2011Y
Rank and States
1. Illinois
2. Missouri
3. Virginia
4. Ohio
5. Delaware
All Other
2010Y
2008Y
All other - 24.1%
2009Y
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
Delaware - 7.7%
2008Y
Bonds - 67.6%
Ohio - 12.7%
719
2,741
1,420
LT Bond
Common Stock
Preferred Stock
Total
Virginia - 15.0%
1,194
2,756
1,287
60
Common Stocks / C&S
Missouri - 15.3%
1,160
2,765
1,408
Illinois - 25.1%
210
783
1,648
Class 6
390
4,340
1,744
All Other - 0.0%
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
13,150
0
0
0
0
0
when
pooling
h an iinter-company
t
i t
Natl Svc Contract Ins Co. RRG (Washington, DC)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
2233 Wisconsin Avenue, NW
Suite 310
(Metro)
Distribution Channel: General Agnt/Managing General Agnt,
Independent Agency
Total Assets
Total Liabilities
Net Income
Total Revenue
16,508
14,213
2,294
366
2,836
15,317
13,945
1,372
-197
1,455
14,503
12,444
2,059
77
-134
9,363
7,654
1,709
28
1,016
12,554
10,807
1,747
28
816
Net Premiums Earned
638
513
2,332
748
629
1,321
622
505
-422
501
390
841
953
843
696
531
23.74
2.39
0.04
320
33.17
-2.57
0.05
25
NM
2.33
0.04
20
2.60
-1.33
0.05
20
2.87
-0.40
0.08
Credit Ratings
Rating
-A
----
Date
-03/29/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Charles Halstead-Johnson
(802) 479-7801
(802) 223-3911
cjohnson@riskservcos.com
Total Assets
PricewaterhouseCoopers LLP
---Mark H. Mishler
2008Y
2009Y
2010Y
2011Y
2012Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
3.72
98.23
2.60
2.12
63.02
201.04
63.02
264.06
242.46
21.60
0.00
0.92
21.37
-1.40
-1.24
77.22
126.62
77.22
203.84
193.66
10.18
0.00
2.02
56.97
0.56
0.51
NM
-159.72
NM
NM
NM
NA
0.00
1.48
44.85
0.29
0.23
29.30
230.06
29.30
259.37
238.58
20.79
0.00
1.17
14.20
0.32
0.26
13.03
90.21
13.03
103.24
86.03
17.20
0.00
12,000
Combined Ratio
4.00
264.1
3.00
259.4
203.8
2.00
19.0
16,000
18,000
14,000
Total Liabilities
16.0
15.0
10,000
15.0
10.0
8,000
6,000
4,000
2,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
227.86
652.04
36.78
16.00
0.00
649.02
-1,921
-304
23.05
29.18
60.95
729.52
NM
71.78
10.00
0.00
1,121.70
-1,527
-269
24.93
24.73
63.93
322.65
680.42
53.38
15.00
0.00
738.18
790
1,156
-262.80
-204.19
57.17
389.41
538.25
86.96
19.00
0.00
635.96
-603
-346
43.85
41.76
37.39
392.82
686.31
63.50
15.00
0.00
753.87
-118
-4
87.49
87.49
28.82
2010Y
2011Y
2012Y
5
4
-20
0
104*
2 0*
2.0*
7
5
-23
0
42
1 5*
1.5*
9
8
116*
0
137*
1 1*
1.1*
-38*
-38*
19
0
0
-2
0
41
2
15
0
0
0
0
1.00
-2.00
2012Y
I
t
t Yield
Yi ld
Investment
0.0
2008Y
2009Y
2010Y
2011Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
0.00
33.77
0.00
17.16
150.10
595
1,470
1,031
-168
86.14
-9.08
11.82
0.00
13.00
0.00
7.23
106.38
739
1,020
797
-496
85.12
NM
-24.82
0.00
10.04
0.00
8.73
-178.49
615
349
716
35
82.10
56.28
NM
0.00
4.93
0.00
11.72
213.41
500
246
864
-302
77.99
0.00
-12.54
0.00
0.77
0.00
6.51
82.92
953
91
761
-155
88.46
0.00
-4.35
Premiums ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
-13
86.14
0.00
-7.12
0
0
0
85.12
NA
-1.26
0
0
0
82.10
NA
-1.15
0
0
-32
77.99
0.00
-0.20
0
0
-13
88.46
0.00
0.00
0
0
Over
Under
103.2
0.00
-1.00
900
300
33
15
100
65
6.5
-----33
----3
50
-10
-11*
25
-10
-11*
100
--15
40
--0
20
---2
20
---4
25
--0
2008Y
2009Y
2010Y
2011Y
2012Y
-9.21
-46.48
-7.21
-40.19
-5.31
50.05
-35.44
-16.98
34.08
2.21
Net Income Growth
-65.34
-56.51
-39.15
-0.90
-59.96
-8.34
6.88
3.75
22.68
NM
NM
-39.79
17.37
-25.13
5.50
-1.48
-19.79
NM
NM
-92.18
-16.94
-19.65
-0.16
-4.95
-22.76
NM
-64.06
-20.00
-19.45
-22.41
-10.45
-13.53
116.39
NM
0.56
0.00
90.39
-16.43
-4.90
-7.14
1,200
1,000
Capital and Surplus
88.5
86.1
800
85.1
82.1
600
400
78.0
200
0
2008Y
2009Y
2010Y
2011Y
2012Y
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
1,889.1
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
Reserves/ Equity
-0.90
-1.58
-4.44
23.74
-9.43
100.00
3.74
-39.79
-2.22
-3.86
33.17
-23.92
100.00
2.29
-92.18
-2.29
-3.73
NM
NM
100.00
0.20
-20.00
-0.04
-2.29
2.60
-0.59
100.00
0.26
0.00
0.00
-0.04
2.87
0.00
100.00
0.19
Asbestos
Environmental
Combined
2008Y
2009Y
1,688.1
944.0
2008Y
Asbestos
Environmental
Combined
1,838.4
1,457.3
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
14,213
14,213
488
2,914.61
1,457.30
13,945
13,945
369
3,778.23
1,889.12
12,444
12,444
338
3,676.85
1,838.43
7,654
7,654
405
1,888.08
944.04
10,807
10,807
320
3,376.24
1,688.12
0
19
0
0.00
3.65
16.14
-0.09
-12
-51
0
0.00
4.47
9.84
0.00
-146
111
0
0.00
3.65
16.54
0.00
155
214
-5,000
NM
4.08
22.33
-0.42
63
51
0
0.00
9.60
16.17
-0.12
Natl Svc Contract Ins Co. RRG (Washington, DC)
2008Y
2009Y
2010Y
2011Y
2012Y
8,864
0
0
0
0
3,612
0
580
0
0
6,705
0
661
0
0
2,318
0
226
0
0
4,944
0
183
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,227
0
14,091
7
989
529
0
16,508
0
10,010
0
14,201
116
87
405
0
15,317
0
6,643
0
14,008
49
87
282
0
14,503
0
6,656
0
9,200
0
88
40
0
9,363
0
6,862
0
11,989
0
88
45
0
12,554
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
531
0
531
1,638
13
112
0
0
320
0
320
946
0
106
0
0
25
0
25
1,873
0
161
0
0
20
0
20
1,422
33
235
0
0
20
0
20
1,569
13
146
0
0
Total Liabilities
2,294
1,372
2,059
1,709
1,747
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
Total Real Estate
Other Investments
2008Y
2009Y
2010Y
2011Y
2012Y
0
638
0
638
0
748
0
748
0
622
0
622
0
501
0
501
0
953
0
953
-125
513
-1,820
2,332
-119
629
-692
1,321
-117
505
926
-422
-111
390
-451
841
-110
843
147
696
Net Losses Paid
Net LAE Paid
0
1,475
0
1,475
0
0
-5
0
1,231
0
1,231
0
0
-211
0
643
0
643
0
0
-295
0
251
0
251
0
0
-5
0
91
0
91
0
0
0
0
0
-5
1,470
1,031
0
0
-168
0
2,501
0
0
-211
1,020
797
0
0
-496
0
1,817
0
0
-295
349
716
-1,522
0
35
0
-457
0
0
-5
246
864
32
0
-302
0
1,143
0
0
0
91
761
0
0
-155
0
851
504
0
0
0
335
-30
366
134
-12
0
0
-373
-176
-197
287
-146
0
0
177
100
77
175
155
0
0
28
0
28
120
63
0
0
28
0
28
Revenue
Net Premiums Earned
Surplus Notes
Unassigned Surplus
Capital & Surplus
30
0
0
10,061
4,122
14,213
30
0
0
9,792
4,122
13,945
30
0
0
8,292
4,122
12,444
30
0
0
3,501
4,122
7,654
30
0
0
3,618
7,159
10,807
Income ($000)
All Other Income
Federal Income Tax
Net Income
16,508
15,317
14,503
9,363
12,554
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
504
0
19
14,091
0
9,731
0
0
0
0
134
12
-12
-51
14,201
0
3,612
0
580
0
0
287
146
-146
111
14,008
0
6,705
0
661
0
0
175
155
214
9,200
0
2,318
0
226
0
0
120
63
51
11,989
0
4,944
0
183
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
-127
-35
1,171
819
879
874
2008Y
2009Y
2010Y
2011Y
2012Y
9,731
0
3,612
0
6,705
0
2,318
0
4,944
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 41.2%
2012Y
2011Y
2010Y
2009Y
2008Y
RMBS Exposure
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
0
0
0
0
5,164
0
0
0
2,435
0
0
633
0
5,341
0
0
1,802
67
0
448
2,946
1,163
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
4,944
183
0
5,127
4,944
183
0
5,127
4,732
163
0
4,895
4,500
--4,500
19,121
528
0
--
LT Bond
Common Stock
Preferred Stock
Total
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.00
0.00
0.00
62.90
0.00
0.00
0.00
37.10
0.00
NA
0.00
0.00
0.00
0.04
5.99
1.00
0.00
0.00
25.43
4.16
4.08
0.00
70.48
0.00
NA
0.00
0.00
0.00
0.76
0.57
1.00
0.00
0.00
47.86
5.31
4.72
0.00
47.42
0.00
NA
0.00
0.00
0.00
0.34
0.60
1.00
0.00
0.00
25.19
2.96
2.46
0.00
72.35
0.00
NA
0.00
0.00
0.00
0.00
0.93
1.00
0.00
0.00
41.24
1.69
1.52
0.00
57.24
0.00
NA
0.00
0.00
0.00
0.00
0.70
5.40
3.21
85.36
3.05
3.31
2.65
92.72
0.88
0.53
1.94
96.59
1.98
0.38
0.43
98.26
1.87
3.44
0.36
95.50
0.95
Texas - 19.9%
Arizona - 10.4%
Virginia - 5.0%
Illinois - 4.8%
All other - 55.5%
All Other - 0.0%
DPW ($000)
190
99
47
46
42
529
323
-280
660
CMBS Exposure
Rank and States
1. Texas
2. Arizona
3. Virginia
4. Illinois
5. North Carolina
All Other
-361
1,444
803
Class 6
335
2,836
1,021
Rank and LOBs
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
953
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.00
-23.15
638
-0.41
0.00
-22.95
748
-33.46
0.00
-13.34
622
NM
0.00
-18.68
501
0.00
0.00
-9.75
953
0.00
when
pooling
h an iinter-company
t
i t
Paratransit Ins Co. A Mutl RRG (Memphis, TN)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
1715 Aaron Brenner Drive
Suite 512
Memphis, TN 38120-1443
MSA: Memphis, TN-MS-AR (Metro)
Distribution Channel: Direct Response, Independent Agency
Total Assets
Total Liabilities
Net Income
Total Revenue
19,484
6,474
13,010
128
3,482
21,244
8,003
13,240
233
3,309
22,091
8,552
13,539
442
3,404
23,250
9,170
14,080
604
3,546
23,274
10,580
12,694
1,093
3,498
4,197
2,835
2,794
4,304
2,743
2,655
4,162
2,736
2,747
4,570
3,028
2,923
4,665
2,961
2,933
10,430
400.69
10.10
0.44
10,275
391.87
4.67
0.34
10,200
389.52
4.36
0.32
10,200
366.83
8.44
0.33
8,100
344.52
13.97
0.28
Credit Ratings
Rating
AA'
----
Date
02/21/13
03/29/13
----
Net Premiums Earned
Direction
Watch/Outlook
Affirm
Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Anita M. Perkins
(802) 371-2219
(802) 371-2225
aperkins@usarisk.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Faulkner Mackie & Cochran P.C.
---William Hamilton Smythe III
65.0
2008Y
2009Y
2010Y
2011Y
2012Y
3.72
24.29
1.83
0.63
40.46
37.01
31.61
98.94
74.29
24.64
21.48
3.68
24.19
3.31
1.17
49.27
39.09
41.62
110.97
85.98
24.99
22.60
3.41
24.12
5.51
2.08
45.90
28.99
42.28
111.30
87.27
24.03
36.41
3.02
20.37
6.80
2.70
22.09
29.73
17.46
94.58
73.48
21.10
42.76
2.68
19.18
11.06
4.69
-17.37
29.62
-22.75
71.92
52.56
19.37
59.67
Combined Ratio
12.00
111.3
111.0
10.00
98.9
25,000
Total Liabilities
94.6
8.00
71.9
62.0
59.0
20,000
58.0
52.0
15,000
10,000
5,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
1.64
135.32
3.30
65.00
0.00
195.55
119
-189
104.62
82.20
14.07
8.00
144.48
13.23
62.00
0.00
209.56
202
252
106.85
90.59
19.28
15.69
153.21
24.84
59.00
0.00
211.37
1,003
1,074
162.28
120.76
20.38
15.22
153.19
23.37
58.00
0.00
223.87
983
390
164.39
111.33
21.39
12.16
171.35
14.58
52.00
0.00
294.09
650
-357
124.31
95.52
26.75
2010Y
2011Y
2012Y
49
32
0
0
87
34
3.4
50
33
11
0
80
30
3.0
44
28
-2
0
63
2 7*
2.7*
7
6
58
0
-22
-40
-20
15
14
52
0
-36
-61
-18
6.00
4.00
Over
Under
2.00
0.00
2008Y
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
8.85
1.33
0.00
7.72
27.96
4,197
1,130
1,049
615
67.54
62.61
20.19
7.65
1.46
0.00
6.30
31.34
4,304
1,308
1,072
274
63.73
32.43
9.94
3.62
1.67
0.00
4.73
22.59
4,162
1,261
793
693
65.74
19.08
10.29
4.63
1.77
0.00
6.30
21.65
4,570
646
900
1,377
66.26
29.77
21.14
5.38
1.72
0.00
6.03
21.87
4,665
-509
877
2,565
63.47
30.93
39.46
2008Y
2009Y
2010Y
2011Y
2012Y
5,577
67.54
0.00
0.00
0
0
5,877
63.73
0.00
0.00
0
0
4,465
65.74
0.00
0.00
0
0
5,444
66.26
0.00
0.00
0
0
7,453
63.47
0.00
0.00
0
0
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
7
25
-10
5
100
--59
40
--0
20
---18
20
---41
25
---21
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
-6.69
-4.25
9.03
1.77
3.99
2.26
5.25
3.99
0.10
-9.85
6.25
122.89
-61.31
-3.09
1.21
3.99
3.96
3.98
-3.24
-53.21
82.63
-1.49
2.55
2.19
5.98
3.52
-0.25
6.43
89.81
-0.73
-3.31
1.80
5.91
3.28
10.69
114.14
36.59
0.00
9.82
1.33
5.78
2.95
-2.24
84.09
80.85
-20.59
2.06
-1.35
7.73
2.19
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
Capital and Surplus
67.5
66.3
65.7
63.7
12,000
63.5
761.2
10,000
8,000
2008Y
2009Y
2010Y
2011Y
2012Y
6,000
643.5
629.9
2010Y
2011Y
525.1
452.6
4,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Reserves/ Equity
-3.09
-12.15
-36.30
400.69
-31.71
51.55
161.10
-1.49
-24.51
-37.70
391.87
-59.78
67.89
128.38
-0.73
-17.96
-40.58
389.52
-52.32
65.20
119.27
0.00
-21.54
-39.77
366.83
-63.01
63.56
111.23
-20.59
-35.76
-60.60
344.52
-111.81
56.41
76.56
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
2,000
0
2008Y
2009Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
6,474
6,474
715
905.12
452.56
8,003
8,003
762
1,050.21
525.11
8,552
8,552
665
1,286.96
643.48
9,170
9,170
728
1,259.89
629.95
10,580
10,580
695
1,522.36
761.18
-362
-608
0
0.00
40.74
200.95
86.14
16
455
0
0.00
38.89
165.43
73.43
197
145
0
0.00
34.08
158.32
52.21
111
-32
0
0.00
34.09
153.54
59.37
202
151
0
0.00
29.97
119.98
70.44
Paratransit Ins Co. A Mutl RRG (Memphis, TN)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
13,899
0
3,492
0
0
14,461
0
3,183
0
0
14,594
0
3,427
0
0
14,861
0
3,853
0
0
14,938
0
4,523
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
214
0
17,605
1,451
0
428
0
19,484
0
1,059
0
18,702
1,586
508
447
0
21,244
0
2,125
0
20,146
1,548
0
398
0
22,091
0
2,143
0
20,857
1,871
19
504
0
23,250
0
1,543
0
21,004
1,699
238
333
0
23,274
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
10,143
288
10,430
1,424
-121
216
0
1,060
10,011
265
10,275
1,454
448
164
0
898
10,028
172
10,200
1,443
336
174
0
1,385
9,989
211
10,200
1,548
319
213
0
1,800
7,987
113
8,100
1,576
456
227
0
2,334
Total Liabilities
13,010
13,240
13,539
14,080
12,694
Occupied Properties
Properties for Sale
2008Y
2009Y
2010Y
2011Y
2012Y
0
4,197
0
4,197
0
4,304
0
4,304
0
4,162
0
4,162
0
4,570
0
4,570
0
4,665
0
4,665
-1,362
2,835
41
2,794
-1,561
2,743
88
2,655
-1,426
2,736
-11
2,747
-1,542
3,028
105
2,923
-1,704
2,961
28
2,933
Net Losses Paid
Net LAE Paid
0
1,201
0
1,201
262
0
-318
0
1,237
0
1,237
226
0
-132
0
1,143
0
1,143
192
0
18
0
550
0
550
96
0
-40
0
1,335
0
1,335
256
0
-2,002
0
-15
-333
1,130
1,049
0
0
615
600
2,179
0
-23
-155
1,308
1,072
0
0
274
600
2,380
0
-93
-75
1,261
793
0
0
693
1,000
2,054
0
40
0
646
900
0
0
1,377
1,250
1,546
0
-98
-2,100
-509
877
0
0
2,565
1,750
368
689
-362
0
0
341
214
128
663
16
0
-9
345
112
233
660
197
0
-3
547
104
442
617
111
0
6
860
256
604
568
202
0
-3
1,582
489
1,093
Revenue
Net Premiums Earned
0
0
0
2,741
3,734
6,474
0
0
0
4,095
3,908
8,003
0
0
0
4,502
4,050
8,552
0
0
0
4,974
4,196
9,170
0
0
0
6,226
4,354
10,580
Income ($000)
All Other Income
Federal Income Tax
Net Income
19,484
21,244
22,091
23,250
23,274
Surplus Notes
Unassigned Surplus
Capital & Surplus
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
689
362
-362
-608
17,605
0
13,899
0
3,492
0
0
663
16
455
18,702
0
14,888
0
3,183
0
0
660
197
145
20,146
0
15,193
0
3,427
0
0
617
111
-32
20,857
0
15,573
0
3,853
0
0
568
202
151
21,004
0
15,685
0
4,523
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Kentucky - 9.7%
Missouri - 8.2%
Nebraska - 7.4%
All other - 49.3%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
2008Y
2009Y
2010Y
2011Y
2012Y
13,797
102
14,888
0
15,193
0
14,903
670
14,565
1,119
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 71.1%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
1,247
472
RMBS Exposure
0
0
0
792
602
0
0
0
0
0
0
0
0
0
0
50
0
0
0
39
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
14,938
4,523
0
19,461
16,209
4,523
0
20,732
15,139
3,633
0
18,772
14,482
--14,482
60,768
12,679
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.01
0.00
0.00
78.95
53.94
19.84
0.00
1.21
0.00
NA
0.00
0.00
0.00
7.45
0.00
1.00
0.00
0.00
77.32
39.77
17.02
0.00
5.66
0.00
NA
0.00
0.00
0.00
7.47
2.39
1.00
0.00
0.00
72.45
40.07
17.01
0.00
10.55
0.00
NA
0.00
0.00
0.00
7.01
0.00
1.04
0.00
0.00
71.25
42.02
18.47
0.00
10.27
0.00
NA
0.00
0.00
0.00
8.05
0.08
1.07
0.00
0.00
71.12
42.75
21.53
0.00
7.35
0.00
NA
0.00
0.00
0.00
7.30
1.02
0.00
2.20
90.35
3.53
0.00
2.11
88.04
3.12
0.00
1.80
91.19
2.99
0.00
2.17
89.71
2.65
0.00
1.43
90.25
2.44
All Other - 0.0%
DPW ($000)
657
527
453
383
346
2,298
1,380
3,700
1,166
LT Bond
Common Stock
Preferred Stock
Total
Rank and States
1. Virginia
2. Utah
3. Kentucky
4. Missouri
5. Nebraska
All Other
750
3,657
1,061
0
Utah - 11.3%
350
3,601
1,041
CMBS Exposure
Virginia - 14.1%
329
3,325
1,411
Class 6
703
3,121
1,324
Rank and LOBs
1. Comm'l Auto St
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Multi Prl
All Other
DPW ($000)
4,665
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
3.86
4,197
30.53
0.00
0.53
4,304
57.77
0.00
0.81
4,162
23.51
0.00
1.06
4,570
47.80
0.00
2.38
4,665
53.03
when
pooling
h an iinter-company
t
i t
PCH Mutual Ins Co. Inc. A RRG (Sarasota, FL)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
1605 Main Street
Suite 800
Sarasota, FL 34236-5823
MSA: North Port-Bradenton-Sarasota, FL (Metro)
Total Assets
Total Liabilities
Net Income
Total Revenue
9,806
3,025
6,781
139
3,998
11,225
1,720
9,505
-1,667
4,466
10,373
2,520
7,853
537
3,102
8,566
2,538
6,028
32
2,360
8,169
3,383
4,786
609
2,676
Net Premiums Earned
4,694
3,711
3,838
4,834
4,510
4,385
3,561
2,447
3,030
3,009
2,280
2,308
3,167
2,505
2,607
3,631
83.08
7.33
1.23
7,049
118.56
-98.51
2.62
6,119
231.21
42.83
0.97
4,187
215.71
-1.15
0.90
3,123
145.72
29.41
0.74
Credit Ratings
Rating
-A
----
Date
-03/08/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Teresa Marie Matthews
(941) 955-0793
(941) 366-1076
tmatthews@pboa.com
Total Assets
Milliman Inc.
-Troy Winch
Edgar Blumenfeld
2008Y
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2009Y
2.47
4.31
4.80
1.56
46.63
53.80
26.87
100.43
96.26
4.17
0.00
1.08
1.79
-65.61
-15.70
120.52
35.14
79.39
157.90
156.07
1.84
2.24
2010Y
0.89
2.92
28.15
4.92
41.77
41.00
22.45
83.29
80.94
2.35
0.52
2011Y
119.0
2012Y
0.67
2.28
1.26
0.36
57.27
46.82
42.97
104.10
101.85
2.25
0.00
0.94
2.78
20.28
7.35
12.75
45.54
22.39
70.57
67.90
2.67
12.28
Combined Ratio
40.00
157.9
20.00
0.00
104.1
100.4
-20.00
8,000
96.0
94.0
81.0
6,000
64.0
4,000
2,000
0
2008Y
2009Y
-80.00
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
19.76
19.37
0.00
4.32
30.11
4,694
1,790
1,997
52
79.06
34.55
5.30
41.13
15.93
0.00
2.34
16.86
4,834
5,285
1,445
-2,485
93.30
NM
-56.04
19.32
26.51
0.00
5.44
9.05
3,561
1,266
1,143
761
68.70
33.99
26.34
14.30
20.34
0.00
4.56
21.92
3,009
1,322
1,067
-81
75.77
-715.67
-1.24
-9.64
19.02
0.00
4.44
22.08
3,167
332
1,141
1,134
79.07
31.85
33.00
2008Y
2009Y
2010Y
2011Y
2012Y
1,497
79.06
19.84
0.00
0
0
1,688
93.30
19.96
0.00
0
0
1,640
68.70
20.00
0.00
0
0
1,121
75.77
20.61
0.00
0
0
1,744
79.07
16.34
0.00
0
0
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
10.19
104.20
22.85
96.00
0.00
142.41
1,087
760
145.35
165.55
10.02
41.17
122.18
227.59
119.00
0.00
102.29
693
487
123.83
125.85
-4.98
69.17
130.39
215.59
94.00
0.00
128.91
-663
202
82.42
60.85
0.98
32.49
137.38
77.17
81.00
0.00
155.75
-862
-903
76.14
78.85
0.77
24.61
167.53
34.81
64.00
0.00
212.74
-211
-295
90.38
98.05
10.22
2010Y
2011Y
2012Y
141
97
-46*
0
125*
0 9*
0.9*
119
90
-7
0
90
0 7*
0.7*
94
74
10
0
84
0 9*
0.9*
1
-1
81
7
-7
-53
-12
33
30*
64
6
-53
-46
18
Over
Under
-60.00
2011Y
Reserve coverage2
70.6
-40.00
2010Y
83.3
2008Y
12,000
10,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
47
25
-10
38*
100
--94
40
--6
20
---49
20
--72*
25
---67
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
21.87
22.72
14.46
40.17
-7.59
-17.38
-17.42
-23.24
-4.63
-20.61
-8.66
-73.93
-74.18
49.62
-7.95
86.84
51.24
71.46
21.54
NM
NM
94.12
2.99
76.40
24.36
58.15
-45.76
NM
NM
-13.19
-26.33
56.52
24.94
44.20
-6.82
NM
-94.03
-31.57
-15.51
15.94
13.67
15.24
9.86
NM
1,799.28
-25.43
5.27
-2.84
6.06
0.30
6,000
5,000
Capital and Surplus
93.3
79.1
75.8
68.7
4,000
79.1
3,000
2,000
1,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
49.62
30.47
-4.50
83.08
20.01
15.50
120.04
94.12
73.52
68.80
118.56
50.71
23.16
409.90
-13.19
-48.97
72.06
231.21
-27.79
21.52
242.85
-31.57
-6.79
-53.11
215.71
-7.41
25.96
164.99
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
238.1
148.9
163.5
140.1
81.4
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
3,025
3,025
1,016
297.80
148.90
1,720
1,720
1,056
162.83
81.42
2,520
2,520
899
280.16
140.08
2,538
2,538
776
327.08
163.54
3,383
3,383
710
476.29
238.15
-25.43
-52.74
-46.39
145.72
-51.35
47.76
92.30
0
-31
0
0.00
128.38
224.18
49.49
-1
125
0
0.00
177.54
552.76
98.16
-4
124
0
0.00
128.27
311.69
65.09
33
-67
0
0.00
89.46
237.51
44.17
10
160
0
0.00
83.41
141.45
51.55
PCH Mutual Ins Co. Inc. A RRG (Sarasota, FL)
2008Y
2009Y
2010Y
2011Y
2012Y
866
0
5,509
0
0
1,999
0
2,058
0
0
1,022
0
1,897
0
0
3,675
0
1,792
0
0
3,851
0
2,420
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
691
0
7,066
290
1,069
1,381
0
9,806
0
3,914
0
7,970
409
583
2,262
0
11,225
0
5,432
0
8,351
147
1,112
763
0
10,373
0
1,958
0
7,425
181
326
634
0
8,566
0
1,178
0
7,448
208
0
513
0
8,169
Net Losses Paid
Net LAE Paid
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
2,903
729
3,631
2,382
167
602
0
0
4,968
2,081
7,049
2,393
-624
547
0
140
3,938
2,181
6,119
1,632
-226
319
0
9
2,409
1,778
4,187
1,300
278
263
0
0
2,136
986
3,123
1,198
-17
270
0
212
Total Liabilities
6,781
9,505
7,853
6,028
4,786
Assets
Bonds
Preferred Stocks
Common Stocks
Occupied Properties
Properties for Sale
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
4,694
0
4,694
0
4,834
0
4,834
0
3,561
0
3,561
0
3,009
0
3,009
0
3,167
0
3,167
Net Premiums Earned
-983
3,711
-127
3,838
-324
4,510
125
4,385
-1,115
2,447
-584
3,030
-729
2,280
-28
2,308
-663
2,505
-102
2,607
0
517
0
517
429
0
514
0
858
0
858
524
0
2,623
0
2,102
0
2,102
546
0
-1,422
0
1,768
0
1,768
450
0
-776
0
857
0
857
540
0
-273
0
329
843
1,790
1,997
0
0
52
0
3,786
0
1,280
3,903
5,285
1,445
140
0
-2,485
98
6,870
0
39
-1,382
1,266
1,143
-140
0
761
16
2,269
0
-120
-896
1,322
1,067
0
0
-81
0
2,389
0
-792
-1,065
332
1,141
0
0
1,134
320
1,473
160
0
0
0
212
73
139
81
-1
0
0
-2,504
-837
-1,667
71
-4
0
0
813
276
537
52
33
0
0
4
-28
32
70
10
0
0
894
285
609
Surplus Notes
Unassigned Surplus
Capital & Surplus
0
0
0
983
2,042
3,025
0
0
0
-559
2,279
1,720
0
0
0
101
2,418
2,520
0
0
0
66
2,472
2,538
0
0
0
835
2,548
3,383
Income ($000)
All Other Income
Federal Income Tax
Net Income
9,806
11,225
10,373
8,566
8,169
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
160
0
-31
7,066
0
866
0
5,509
0
0
81
1
-1
125
7,970
0
5,642
0
2,058
0
0
71
4
-4
124
8,351
0
2,911
0
1,897
0
0
52
33
-67
7,425
0
4,531
0
1,792
0
0
70
10
160
7,448
0
4,420
0
2,420
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
2,687
1,685
2008Y
2009Y
2010Y
2011Y
2012Y
866
0
5,642
0
2,911
0
4,531
0
4,343
77
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 51.7%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
0
0
0
0
0
0
409
0
0
1,489
407
0
0
508
396
0
0
3,160
316
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
3,851
2,420
0
6,270
3,851
2,420
0
6,270
3,792
2,029
0
5,821
3,734
--3,734
15,227
6,868
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
1.00
0.00
0.00
12.25
182.13
77.97
0.00
9.78
0.00
NA
0.00
0.00
0.00
2.96
10.90
1.00
0.00
0.00
25.08
119.67
25.82
0.00
49.10
0.00
NA
0.00
0.00
0.00
3.64
5.20
1.00
0.00
0.00
12.24
75.29
22.72
0.00
65.04
0.00
NA
0.00
0.00
0.00
1.41
10.72
1.00
0.00
0.00
49.49
70.61
24.13
0.00
26.37
0.00
NA
0.00
0.00
0.00
2.11
3.80
1.02
0.00
0.00
51.70
71.52
32.49
0.00
15.81
0.00
NA
0.00
0.00
0.00
2.55
0.00
0.00
14.08
72.06
1.63
0.00
20.15
71.01
0.72
0.00
7.36
80.51
0.69
0.00
7.40
86.69
0.61
0.00
6.27
91.17
0.85
Michigan - 8.5%
Georgia - 8.2%
Maryland - 5.6%
All other - 35.5%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
883
2,393
1,614
Pennsylvania - 17.4%
-29
3,098
1,750
LT Bond
Common Stock
Preferred Stock
Total
Washington - 24.8%
All Other - 0.0%
DPW ($000)
785
551
269
260
179
1,124
817
4,465
2,056
Class 6
Rank and States
1. Washington
2. Pennsylvania
3. Michigan
4. Georgia
5. Maryland
All Other
-2,503
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
212
3,998
1,880
Rank and LOBs
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
3,167
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
4,694
28.33
0.00
40.64
4,834
62.30
0.00
9.79
3,561
27.51
0.00
-0.22
3,009
42.41
0.00
-9.08
3,167
30.97
when
pooling
h an iinter-company
t
i t
Ponce De Leon LTC RRG Inc. (Alpharetta, GA)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
3655 Brookside Parkway
Suite 200
Alpharetta, GA 30022-1429
Distribution Channel: Direct Response, General
Agnt/Managing General Agnt
Total Assets
Total Liabilities
Net Income
Total Revenue
18,355
7,808
10,546
566
6,190
18,528
9,165
9,363
140
5,385
18,727
8,622
10,104
-523
5,246
16,789
8,194
8,595
-527
5,249
14,352
7,831
6,521
-471
3,841
5,607
5,249
5,388
5,191
4,677
4,773
5,597
5,399
4,861
4,524
4,165
4,918
2,754
2,476
3,502
6,285
125.08
13.98
0.67
5,524
125.57
12.43
0.51
5,918
113.56
-8.79
0.63
5,249
118.50
-11.41
0.51
4,801
144.64
-6.32
0.32
Credit Ratings
Rating
-A
----
Date
-03/08/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
Net Premiums Earned
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Carolyn Verde
(678) 781-2400
(678) 781-2450
cverde@usre.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Johnson Lambert LLP
Milliman Inc.
--Jack Mease Norton
2008Y
2009Y
2010Y
2011Y
2012Y
4.19
13.62
7.13
3.07
52.46
42.94
17.63
95.40
82.13
13.27
0.00
2.97
10.41
1.71
0.80
41.24
51.26
13.60
92.50
82.30
10.20
0.00
2.20
6.62
-5.99
-2.95
79.38
39.91
43.80
119.29
111.94
7.35
0.00
2.14
7.85
-6.50
-3.04
83.17
50.03
38.13
133.20
126.55
6.64
0.00
1.77
10.05
-5.77
-3.05
74.83
70.15
30.30
144.98
137.88
7.10
0.00
Combined Ratio
8.00
145.0
6.00
133.2
4.00
119.3
2.00
95.4
92.5
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Total Liabilities
64.0
62.0
59.0
55.0
49.0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
32.90
154.98
44.44
64.00
0.00
177.01
-1,085
-921
82.82
92.18
0.82
26.39
181.95
26.96
55.00
0.00
209.58
-418
-98
90.81
98.80
8.03
12.96
160.80
15.19
62.00
0.00
179.76
-886
-723
84.81
88.87
7.32
6.17
167.06
6.47
59.00
0.00
190.35
-2,352
-1,746
65.82
62.55
5.12
19.28
203.17
16.05
49.00
0.00
219.09
-2,031
-1,198
58.28
49.31
5.80
2010Y
2011Y
2012Y
65
63
15
0
95
2 2*
2.2*
55
51
-23
0
118*
2 1*
2.1*
35
32
-41*
0
129*
1 8*
1.8*
-5
-6
59
10
2
17
18
-4
0
49
1
-4
-4
-13
0.00
-2.00
Over
Under
-4.00
-6.00
-8.00
2008Y
2009Y
Retention Ratio
Effective Tax Rate
Premiums ($000)
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
34.83
1.44
0.00
4.39
37.11
5,607
2,827
2,254
307
93.62
41.86
17.92
27.64
11.59
0.00
3.68
36.00
5,191
1,969
2,398
407
90.11
75.66
18.91
35.59
5.55
0.00
2.37
31.99
5,597
3,859
2,154
-1,152
96.46
NM
-14.63
45.04
5.69
0.00
2.68
41.67
4,524
4,091
2,084
-1,256
92.07
NM
-17.63
44.53
3.63
0.00
2.84
63.68
2,754
2,621
1,737
-855
89.89
0.00
-13.43
2008Y
2009Y
2010Y
2011Y
2012Y
-559
93.62
0.00
0.00
0
0
-144
90.11
0.00
0.00
0
0
-83
96.46
0.00
0.00
0
0
50
92.07
0.00
0.00
0
0
105
89.89
0.00
0.00
0
0
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
-6
25
-10
-1
100
--62
40
--13
20
--12
20
---8
25
--0
Net Income Growth
2008Y
2009Y
2010Y
2011Y
2012Y
-4.60
-6.78
0.94
-11.22
1.07
7.92
-10.35
-14.94
-14.51
-24.13
-12.66
-23.14
-45.72
-11.45
-12.30
34.45
5.64
17.10
-10.89
-8.19
-75.20
-12.12
-7.42
14.51
4.74
9.03
15.42
NM
NM
7.15
7.83
4.91
2.88
3.95
-22.86
NM
NM
-11.31
-19.18
-3.57
1.27
-1.39
-40.55
NM
NM
-8.54
-39.11
-10.43
-0.24
-5.69
6,000
Capital and Surplus
96.5
5,000
4,000
93.6
92.1
3,000
90.1
2,000
89.9
1,000
0
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
Reserves/ Equity
-11.45
-13.32
-25.82
125.08
-19.60
49.83
80.49
-12.12
-14.91
-19.86
125.57
-24.38
37.31
60.27
7.15
11.96
-7.85
113.56
22.55
54.33
68.64
-11.31
2.37
17.16
118.50
4.16
53.56
64.06
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
481.4
476.0
467.2
453.2
443.4
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
2012Y
Capital and Surplus
7,808
7,808
881
886.81
443.41
9,165
9,165
981
934.42
467.21
8,622
8,622
906
952.06
476.03
8,194
8,194
904
906.46
453.23
7,831
7,831
813
962.84
481.42
-8.54
-3.78
-3.70
144.64
-8.84
54.82
61.31
-136
-360
0
0.00
66.12
135.06
-7.16
-442
305
0
0.00
57.06
102.16
-1.57
-59
394
0
0.00
61.84
117.19
-0.96
171
4
0
0.00
51.37
104.90
0.61
45
150
0
0.00
30.30
83.27
1.34
Ponce De Leon LTC RRG Inc. (Alpharetta, GA)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
11,831
0
1,043
0
0
12,828
0
1,737
0
0
12,815
0
2,123
0
0
11,668
0
2,161
0
0
9,579
0
2,413
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,470
0
16,344
576
1,007
427
0
18,355
0
2,471
0
17,036
691
462
339
0
18,528
0
1,310
0
16,248
1,127
606
747
0
18,727
0
530
0
14,359
782
537
1,111
0
16,789
0
1,257
0
13,249
105
316
682
0
14,352
5,348
937
6,285
2,632
739
858
0
32
4,737
787
5,524
2,536
312
887
0
105
5,217
701
5,918
3,074
296
816
0
0
4,441
808
5,249
2,321
317
708
0
0
3,996
805
4,801
1,295
0
426
0
0
10,546
9,363
10,104
8,595
6,521
Occupied Properties
Properties for Sale
Total Real Estate
Other Investments
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
Total Liabilities
Surplus Notes
Unassigned Surplus
Capital & Surplus
18
0
5,807
151
1,832
7,808
18
0
5,806
1,487
1,853
9,165
19
0
5,358
1,372
1,874
8,622
20
0
5,350
859
1,965
8,194
20
0
4,980
832
1,999
7,831
18,355
18,528
18,727
16,789
14,352
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
715
136
-136
-360
16,344
0
11,831
0
1,043
0
0
487
442
-442
305
17,036
0
12,828
0
1,737
0
0
357
59
-59
394
16,248
0
12,815
0
2,123
0
0
327
171
4
14,359
0
11,668
0
2,161
0
0
249
45
150
13,249
0
9,579
0
2,413
0
0
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
5,607
0
5,607
0
5,191
0
5,191
0
5,597
0
5,597
0
4,524
0
4,524
0
2,754
0
2,754
Net Premiums Earned
-358
5,249
-139
5,388
-513
4,677
-96
4,773
-198
5,399
538
4,861
-359
4,165
-753
4,918
-278
2,476
-1,026
3,502
Net Losses Paid
Net LAE Paid
0
1,801
0
1,801
1,839
0
-851
0
1,261
0
1,261
1,469
0
-612
0
1,648
0
1,648
1,816
0
481
0
2,652
0
2,652
2,108
0
-776
0
1,507
0
1,507
1,562
0
-445
0
38
-813
2,827
2,254
0
0
307
0
5,081
0
-149
-761
1,969
2,398
0
0
407
0
4,366
0
-86
395
3,859
2,154
0
0
-1,152
0
6,013
0
107
-669
4,091
2,084
0
0
-1,256
0
6,174
0
-3
-448
2,621
1,737
0
0
-855
0
4,358
Income ($000)
All Other Income
Federal Income Tax
Net Income
715
-136
0
87
974
408
566
487
-442
0
124
577
437
140
357
-59
0
27
-827
-303
-523
327
171
0
4
-754
-227
-527
249
45
0
91
-471
0
-471
1,109
1,019
-768
-925
-516
Memo: Total Revenue
Memo: Paid Expenses
6,055
4,134
4,943
3,888
5,187
4,094
5,420
4,349
3,886
3,628
2008Y
2009Y
2010Y
2011Y
2012Y
11,831
0
12,828
0
12,815
0
11,668
0
9,579
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
Class 6
0
Bonds - 72.3%
Alaska - 0.0%
Alabama - 0.0%
Arkansas - 0.0%
Arizona - 0.0%
All other - 0.0%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
1,384
RMBS Exposure
0
0
0
0
778
0
0
0
0
0
0
0
0
0
0
2,412
0
0
0
1,941
0
0
0
1,787
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
9,579
2,413
0
11,992
9,858
2,413
0
12,271
9,677
1,858
0
11,535
9,372
--9,372
38,486
6,684
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
1.00
0.00
0.00
72.39
13.36
6.38
0.00
21.23
0.00
NA
0.00
0.00
0.00
3.14
5.49
1.00
0.00
0.00
75.30
18.96
10.20
0.00
14.50
0.00
NA
0.00
0.00
0.00
3.73
2.49
1.00
0.00
0.00
78.87
24.62
13.07
0.00
8.06
0.00
NA
0.00
0.00
0.00
6.02
3.23
1.00
0.00
0.00
81.26
26.38
15.05
0.00
3.69
0.00
NA
0.00
0.00
0.00
4.66
3.20
1.00
0.00
0.00
72.30
30.81
18.21
0.00
9.49
0.00
NA
0.00
0.00
0.00
0.73
2.20
0.00
2.33
89.05
3.90
0.00
1.83
91.95
2.63
0.00
3.99
86.76
1.91
0.00
6.61
85.53
1.95
0.00
4.75
92.32
1.73
2008Y
2009Y
2010Y
2011Y
2012Y
Common Stocks / C&S
0.00
17.10
5,607
16.48
0.00
2.72
5,191
12.25
0.00
0.08
5,597
45.72
0.00
-7.23
4,524
38.57
0.00
-15.50
2,754
23.12
Aircraft - 0.0%
All Other - 0.0%
DPW ($000)
2,754
0
0
0
0
0
0.20
LT Bond
Common Stock
Preferred Stock
Total
Rank and States
1. Florida
2. Alaska
3. Alabama
4. Arkansas
5. Arizona
All Other
0.00
CMBS Exposure
Florida - 100.0%
2012Y
2011Y
2010Y
2009Y
2008Y
Rank and LOBs
1. Med Prof Liab
3. Total Cmbnd A&H
4. Aircraft
5. Comm'l Auto St
All Other
DPW ($000)
1,928
826
0
0
0
0
when
pooling
h an iinter-company
t
i t
Premier Physicians Ins Co. (Carson City, NV)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
575 South Saliman Road
Carson City, NV 89701-5000
Total Assets
Total Liabilities
Net Income
Total Revenue
9,531
3,187
6,344
-198
5,633
10,008
3,340
6,667
399
5,957
11,467
2,802
8,665
-131
4,272
12,457
3,056
9,401
238
5,663
14,386
3,779
10,607
640
5,170
Net Premiums Earned
5,792
5,792
5,521
6,459
6,459
5,866
6,297
4,097
4,181
7,217
6,069
5,574
7,321
5,440
5,073
2,786
45.86
-10.06
1.82
2,979
47.66
19.40
1.93
2,934
87.53
-3.84
1.46
3,952
64.23
14.26
1.99
3,435
79.60
31.02
1.44
MSA: Carson City, NV (Metro)
Credit Ratings
Rating
-A
----
Date
-03/06/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Jessica Contreras
(775) 887-2480
(775) 887-2481
jessicacontreras@pgmnv.com
Total Assets
Casey Neilon & Associates LLC
Bickerstaff, Whatley, Ryan
K. Warren Volker
---
14,000
2008Y
2009Y
2010Y
2011Y
2012Y
12,000
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
2.04
1.93
-6.64
-2.31
34.10
69.94
13.00
104.04
102.01
2.03
0.00
1.32
1.41
12.44
4.19
41.82
44.63
26.33
86.45
84.89
1.55
0.00
1.11
2.20
-4.12
-1.24
51.71
54.47
19.85
106.18
104.02
2.16
0.00
1.02
1.46
8.75
2.08
53.10
38.14
15.09
91.24
89.64
1.59
0.00
0.96
1.79
19.63
4.97
33.48
45.24
5.18
78.71
76.80
1.92
0.00
10,000
Combined Ratio
25.00
20.00
106.2
104.0
91.2
86.4
15.00
78.7
10.00
8,000
100.0
98.0
96.0
89.0
6,000
86.0
4,000
2,000
0
2008Y
2009Y
-5.00
-10.00
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
21.10
26.21
0.00
1.12
42.60
5,792
1,882
4,051
-413
100.00
NM
-5.34
15.48
3.90
9.48
0.58
30.67
6,459
2,453
2,883
531
100.00
35.91
10.44
31.86
7.38
19.04
1.13
26.92
6,297
2,162
2,232
-212
65.06
NM
-2.86
38.01
6.73
13.45
0.86
17.09
7,217
2,960
2,315
300
84.10
40.93
6.86
28.29
7.39
15.53
0.93
21.40
7,321
1,698
2,461
913
74.31
37.12
19.55
2008Y
2009Y
2010Y
2011Y
2012Y
511
100.00
0.00
0.00
0
0
-177
100.00
0.00
0.00
0
0
-2,433
65.06
0.00
0.00
0
0
-1,589
84.10
0.00
0.00
0
0
-2,588
74.31
0.00
0.00
0
0
Premiums ($000)
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Reserve coverage2
112.21
112.21
223.33
89.00
0.00
142.55
2,230
2,111
163.75
170.69
4.56
115.72
115.72
230.99
86.00
0.00
122.82
990
781
118.58
124.30
6.44
24.32
38.56
75.20
100.00
0.00
103.24
2,155
2,113
150.91
154.91
0.73
25.83
101.51
79.45
98.00
0.00
105.74
477
670
111.19
111.31
2.19
39.92
103.48
112.05
96.00
0.00
113.79
1,542
1,454
132.49
138.11
6.87
2010Y
2011Y
2012Y
225
146
-37*
0
93
1 1*
1.1*
236
199
48*
0
95
1 0*
1.0*
194
144
-10
0
83
0 9*
0.9*
9
4
98
1
-17
-43
-52
24
18
96
11
-45
-14
-19
Over
Under
0.00
2010Y
5.00
2008Y
16,000
Total Liabilities
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
-16*
25
-10
-19*
100
--100
40
--0
20
---43
20
---12
25
---53
2008Y
2009Y
2010Y
2011Y
2012Y
27.23
55.33
5.00
5.10
14.58
29.96
8.64
8.50
15.49
12.83
Net Income Growth
15.40
NM
NM
97.78
15.40
NA
NA
NA
11.51
NM
NM
6.95
11.51
43.71
11.26
28.91
-36.57
NM
NM
-1.52
-2.50
40.14
3.68
25.17
48.14
NM
NM
34.70
14.60
33.15
4.73
21.67
-10.37
160.26
168.53
-13.09
1.45
21.03
2.09
13.94
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
100.0
Capital and Surplus
100.0
84.1
74.3
65.1
2008Y
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
Reserves/ Equity
2009Y
2010Y
2011Y
2012Y
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
185.2
165.2
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
97.78
4.43
8.25
45.86
2.74
0.00
87.40
6.95
11.98
5.43
47.66
6.51
0.00
89.20
-1.52
-42.75
-12.49
87.53
-34.15
0.00
104.72
34.70
-16.70
-43.14
64.23
-8.40
0.00
129.33
-13.09
-45.39
-13.66
79.60
-27.34
0.00
90.89
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
3,187
NA
NA
NA
NA
3,340
NA
NA
NA
NA
2,802
NA
NA
NA
NA
3,056
3,056
925
330.45
165.22
3,779
3,779
1,021
370.34
185.17
0
0
0
0.00
193.81
199.03
16.03
0
0
-188
47.27
201.51
199.61
-5.30
-37
116
0
0.00
128.75
309.24
-86.83
15
-49
0
0.00
222.81
307.61
-51.99
7
76
0
0.00
166.95
280.66
-68.48
Premier Physicians Ins Co. (Carson City, NV)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
0
0
0
0
0
0
0
0
0
0
5,295
0
1,234
0
0
5,924
0
1,190
0
0
5,030
0
1,711
0
0
Occupied Properties
Properties for Sale
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
7,118
0
7,118
96
511
1,806
0
9,531
0
7,716
0
7,716
47
349
1,896
0
10,008
0
2,107
0
8,636
4
65
2,762
0
11,467
0
2,428
0
9,542
30
463
2,421
0
12,457
0
4,235
0
10,976
414
507
2,489
0
14,386
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
1,621
1,165
2,786
2,566
0
885
0
107
1,782
1,197
2,979
3,158
257
117
0
156
1,997
937
2,934
3,074
2,433
39
0
185
2,761
1,192
3,952
3,569
1,589
37
0
252
2,641
795
3,435
3,937
2,726
106
0
404
Total Liabilities
6,344
6,667
8,665
9,401
10,607
Surplus Notes
Unassigned Surplus
Capital & Surplus
0
0
0
435
2,752
3,187
0
0
0
645
2,695
3,340
0
0
0
84
2,718
2,802
0
0
0
273
2,783
3,056
0
0
0
988
2,791
3,779
9,531
10,008
11,467
12,457
14,386
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
5,792
0
5,792
0
6,459
0
6,459
0
6,297
0
6,297
0
7,217
0
7,217
0
7,321
0
7,321
Net Premiums Earned
0
5,792
271
5,521
0
6,459
592
5,866
-2,200
4,097
-84
4,181
-1,148
6,069
495
5,574
-1,881
5,440
367
5,073
0
505
0
505
0
0
212
0
1,384
0
1,384
876
0
161
0
616
0
616
1,592
0
214
0
77
0
77
1,864
0
764
0
383
0
383
1,832
0
-120
0
1,165
1,377
1,882
4,051
0
0
-413
0
5,933
0
32
194
2,453
2,883
0
0
531
0
5,336
0
-260
-45
2,162
2,232
0
0
-212
0
4,394
0
254
1,018
2,960
2,315
0
0
300
0
5,274
0
-397
-517
1,698
2,461
0
0
913
0
4,159
Income ($000)
All Other Income
Federal Income Tax
Net Income
112
0
0
0
-301
-102
-198
91
0
0
0
622
223
399
90
-37
0
0
-159
-28
-131
89
15
0
0
403
165
238
97
7
0
0
1,017
378
640
Net Losses Paid
Net LAE Paid
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
112
0
0
7,118
0
0
0
0
0
0
91
0
0
7,716
0
0
0
0
0
0
90
37
-37
116
8,636
0
0
0
1,234
0
0
89
15
-49
9,542
0
5,924
0
1,190
0
0
97
7
76
10,976
0
5,030
0
1,711
0
0
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
California - 2.9%
Arizona - 0.4%
Alaska - 0.0%
Alabama - 0.0%
All other - 0.0%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
1,011
5,177
4,278
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
0
0
5,924
0
5,030
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 45.8%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
114
1,266
0
0
392
968
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
5,030
1,711
0
6,742
5,030
1,711
0
6,742
5,063
1,575
0
6,639
4,855
--4,855
19,979
4,998
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
1.00
5.37
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
0.47
3.49
NA
0.00
0.00
61.31
44.04
14.29
0.00
24.40
0.00
NA
0.00
0.00
0.00
0.03
0.57
1.00
0.00
0.00
62.09
38.93
12.47
0.00
25.44
0.00
NA
0.00
0.00
0.00
0.24
3.72
1.00
0.00
0.00
45.83
45.28
15.59
0.00
38.58
0.00
NA
0.00
0.00
0.00
2.87
3.53
0.00
18.94
74.69
1.17
0.00
18.95
77.10
0.91
0.00
24.09
75.31
0.79
0.00
19.44
76.60
0.71
0.00
17.30
76.30
0.68
All Other - 0.0%
DPW ($000)
7,079
216
26
0
0
0
388
5,677
4,225
LT Bond
Common Stock
Preferred Stock
Total
Rank and States
1. Nevada
2. California
3. Arizona
4. Alaska
5. Alabama
All Other
-122
4,235
3,862
Class 6
Nevada - 96.7%
622
5,957
3,759
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
-301
5,633
5,460
Rank and LOBs
1. Med Prof Liab
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
7,321
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
5,792
37.35
0.00
NA
6,459
48.15
0.00
NA
6,297
26.16
0.00
17.24
7,217
11.99
0.00
7.84
7,321
7.57
when
pooling
h an iinter-company
t
i t
Sigma RRG Inc. (Washington, DC)
Business Profile
HIGHLIGHTS ($000)
2008Y
2009Y
2010Y
2011Y
2012Y
c/o Aon Risk Services, Inc.
1120 20th Street, NW, Suite 60
(Metro)
Geographic Focus: Regional - Northeastern Quadrant
Total Assets
Total Liabilities
Net Income
Total Revenue
5,721
1,323
4,398
23
2,580
7,304
1,898
5,406
75
1,096
9,824
3,532
6,292
531
2,144
10,992
4,592
6,400
655
2,529
13,162
5,461
7,701
531
2,435
Net Premiums Earned
3,878
3,515
2,578
2,120
1,770
1,081
2,849
2,849
2,097
2,351
2,351
2,538
2,344
2,344
2,349
2,330
NA
NA
2.66
2,920
247.74
9.19
0.93
3,450
166.42
35.17
0.81
4,062
161.72
26.49
0.51
5,220
205.51
16.17
0.43
Credit Ratings
Rating
-A
----
Date
-03/06/13
----
Direction
Watch/Outlook
-Affirm
----
Not Covered by SNL
----
Liquidity ($000)
OFFICERS & ADVISORS
Name :
Phone :
Fax :
Email :
Auditor
Actuary
CEO
CFO
President
Emi Swaim
(202) 862-5339
(847) 953-3462
emi.swaim@aon.com
Loss and LAE Ratio
Expense Ratio
Loss Ratio
Combined Ratio
Operating Ratio
Investment ratio
Total Assets
Aon Global Risk Consulting
Richard A. Graciano Jr.
-Ross J. Nese
12,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
0.06
NA
NA
90.39
6.55
90.39
96.94
96.86
0.08
0.00
0.41
0.89
5.33
1.44
65.98
14.35
-72.00
80.33
78.86
1.46
0.00
0.85
1.65
22.77
7.25
50.14
9.53
43.54
59.67
57.43
2.25
0.00
-0.12
-0.37
17.07
6.90
48.61
11.88
37.58
60.49
60.84
-0.35
0.00
0.91
3.69
10.80
4.75
58.93
10.88
37.05
69.81
66.13
3.68
0.00
Combined Ratio
96.9
15.00
80.3
69.8
10.00
116.0
113.0
10,000
89.0
8,000
5.00
-5.00
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
Retention Ratio
Effective Tax Rate
0.00
0.00
0.00
1.79
4.76
3,878
2,330
230
18
90.65
-19.33
0.76
137.98
0.00
0.00
2.43
11.92
2,120
713
254
114
83.49
42.05
11.81
6.60
0.00
0.00
2.21
7.32
2,849
1,051
272
774
100.00
33.70
38.29
11.03
0.00
0.00
2.90
8.98
2,351
1,234
279
1,025
100.00
35.30
40.17
21.88
0.00
0.00
2.69
8.18
2,344
1,384
255
709
100.00
33.68
32.69
Premiums ($000)
2011Y
2012Y
4,000
2,000
0
2008Y
2009Y
2010Y
2008Y
2009Y
2010Y
2011Y
2012Y
88.81
88.81
295.17
113.00
0.00
107.65
2,538
2,538
4,067.05
4,067.05
0.41
86.41
86.41
246.08
116.00
0.00
95.38
664
376
260.32
333.95
1.35
103.29
112.11
183.99
89.00
0.00
121.01
1,299
1,287
265.07
271.68
6.41
119.35
131.81
166.33
76.00
0.00
134.89
1,628
1,044
281.02
345.13
11.69
123.75
135.23
174.50
74.00
0.00
140.58
1,691
1,592
438.11
462.10
13.80
2010Y
2011Y
2012Y
81
81
61*
0
65
0 8*
0.8*
51
51
-17
0
59
0 0*
0.0*
43
43
0
0
63
0 9*
0.9*
30
19
76
48*
-23
-6
18
19
12
74
43*
-13
-38
-45
Over
Under
0.00
2009Y
74.0
60.5
59.7
2008Y
76.0
6,000
Reserve coverage2
25.00
20.00
14,000
Total Liabilities
2008Y
2009Y
2010Y
2011Y
2012Y
-24
90.65
0.00
0.00
0
0
-23
83.49
0.00
0.00
0
0
0
100.00
NA
0.00
0
0
0
100.00
NA
0.00
0
0
0
100.00
NA
0.00
0
0
I
t
t Yield
Yi ld
Investment
900
300
33
15
100
65
6.5
-----33
----3
50
-10
86*
25
-10
28*
100
--89
40
--67*
20
---24
20
---78
25
---15
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
27.66
22.91
34.50
16.39
11.89
1.72
19.74
20.32
Net Income Growth
NA
NA
NA
NA
NA
NA
NA
NA
-49.65
562.42
221.69
25.30
-45.34
NA
NA
NA
60.99
534.04
608.30
18.16
34.41
NA
NA
NA
-17.49
23.74
23.21
17.72
-17.49
13.32
51.40
24.32
-0.28
-21.65
-18.87
28.51
-0.28
15.03
42.53
23.15
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
100.0
100.0
Capital and Surplus
100.0
90.6
600,000
83.5
500,000
389.8
355.9
360.1
400,000
2008Y
2009Y
2010Y
2011Y
2012Y
232.1
300,000
200,000
2008Y
2009Y
2010Y
2011Y
2012Y
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
Capital and Surplus
Reserves/ Equity
NA
NA
0.00
NA
0.00
80.42
176.10
25.30
-56.15
0.00
247.74
-68.76
51.62
153.82
18.16
-24.28
-77.53
166.42
-21.99
59.28
97.68
17.72
-23.21
-6.47
161.72
-32.31
52.16
88.45
28.51
-13.37
-38.27
205.51
-26.14
48.49
95.58
Asbestos
Environmental
Combined
Asbestos
Environmental
Combined
100,000
0
0.1
2008Y
2009Y
2010Y
2011Y
2012Y
2008Y
2009Y
2010Y
2011Y
2012Y
1,323
1,323
485,146
0.27
0.14
1,898
1,898
409
464.14
232.07
3,532
3,532
496
711.89
355.94
4,592
4,592
589
779.62
389.81
5,461
5,461
758
720.28
360.14
0
0
0
0.00
NA
332.35
-1.81
0
0
0
0.00
125.62
284.76
-1.21
-19
0
0
0.00
122.06
178.12
0.00
-4
0
0
0.00
61.30
139.37
0.00
5
0
0
0.00
47.64
141.01
0.00
Sigma RRG Inc. (Washington, DC)
2008Y
2009Y
2010Y
2011Y
2012Y
Assets
Bonds
Preferred Stocks
Common Stocks
0
0
0
0
0
0
0
0
0
0
555
0
0
0
0
283
0
514
0
0
133
0
751
0
0
Occupied Properties
Properties for Sale
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Real Estate
Other Investments
0
3,906
0
3,906
1,276
0
539
0
5,721
0
4,671
0
4,671
1,955
0
678
0
7,304
0
6,499
0
7,054
2,369
0
402
0
9,824
0
7,638
0
8,436
2,192
0
364
0
10,992
0
9,530
0
10,414
2,345
0
403
0
13,162
Liabilities
Unpaid Losses
Unearned Premiums
Other Liabilities
2,330
0
2,330
1,276
363
166
94
169
1,552
1,368
2,920
1,953
350
129
0
53
2,250
1,200
3,450
2,379
0
135
0
327
2,861
1,201
4,062
2,192
0
137
0
9
3,681
1,538
5,220
2,188
0
118
0
175
Total Liabilities
4,398
5,406
6,292
6,400
7,701
Surplus Notes
Unassigned Surplus
Capital & Surplus
0
0
0
23
1,300
1,323
1,800
0
0
98
0
1,898
2,903
0
0
630
0
3,532
3,308
0
0
1,285
0
4,592
3,645
0
0
1,816
0
5,461
5,721
7,304
9,824
10,992
13,162
2008Y
2009Y
2010Y
2011Y
2012Y
Revenue
0
3,878
0
3,878
0
2,120
0
2,120
0
2,849
0
2,849
0
2,351
0
2,351
0
2,344
0
2,344
Net Premiums Earned
-363
3,515
937
2,578
-350
1,770
689
1,081
0
2,849
752
2,097
0
2,351
-187
2,538
0
2,344
-4
2,349
Net Losses Paid
Net LAE Paid
0
0
0
0
0
0
2,330
0
0
0
0
123
0
-778
0
215
0
215
306
0
698
0
343
0
343
279
0
611
0
50
0
50
176
0
820
0
0
2,330
2,330
230
0
0
18
0
2,561
0
1,368
590
713
254
0
0
114
0
967
0
-168
530
1,051
272
0
0
774
0
1,323
0
1
611
1,234
279
0
0
1,025
0
1,513
0
338
1,158
1,384
255
0
0
709
0
1,639
2
0
0
0
20
-4
23
16
0
0
0
129
54
75
47
-19
0
0
802
270
531
-9
-4
0
0
1,012
357
655
87
5
0
0
801
270
531
Income ($000)
All Other Income
Federal Income Tax
Net Income
Memo: Total Revenue
Memo: Paid Expenses
Bonds
Preferred Stocks
0
0
0
0
0
0
0
0
0
0
Common Stocks
Mortgage Loans
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
R li d C
it l G
i
Realized
Capital
Gains
2
0
0
3,906
0
0
0
0
0
0
16
0
0
4,671
0
0
0
0
0
0
47
19
-19
0
7,054
0
555
0
0
0
0
-9
4
-4
0
8,436
0
283
0
514
0
0
87
5
0
10,414
0
133
0
751
0
0
NA
0.00
NA
NA
0.00
NA
NA
NA
0.00
NA
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
0.00
0.00
0.00
NA
0.00
NA
NA
2008Y
2009Y
2010Y
2011Y
2012Y
0
0
0
0
555
0
283
0
133
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Bonds - 1.3%
2012Y
2011Y
2010Y
2009Y
2008Y
0.00
0.20
0.40
0.60
0.80
1.00
2008Y
2009Y
2010Y
2011Y
2012Y
CMBS Exposure
0
0
0
0
0
RMBS Exposure
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Carr Value
Fair Value
Actual Cost
Par Value
Total
133
751
0
884
133
751
0
884
126
708
0
833
125
--125
517
2,209
0
--
ASSET QUALITY (%)
2008Y
2009Y
2010Y
2011Y
2012Y
Aircraft - 0.0%
Common Stocks / C&S
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
22.30
0.00
NA
0.00
0.00
0.00
0.00
0.00
0.00
100.00
0.00
NA
0.00
0.00
0.00
26.76
0.00
1.00
0.00
0.00
7.87
0.00
0.00
0.00
92.13
0.00
NA
0.00
0.00
0.00
24.11
0.00
1.00
0.00
0.00
3.35
11.20
6.10
0.00
90.55
0.00
NA
0.00
0.00
0.00
19.94
0.00
1.00
0.00
0.00
1.28
13.75
7.21
0.00
91.51
0.00
NA
0.00
0.00
0.00
17.82
0.00
0.00
9.43
68.27
0.04
0.00
9.28
63.95
0.22
0.00
4.09
71.80
0.48
0.00
3.31
76.74
-0.08
0.00
3.06
79.12
0.66
Alabama - 0.0%
Arkansas - 0.0%
Arizona - 0.0%
All other - 0.0%
Market Share Ratio
DPW 5 Yr CAGR
National DPW ($000)
Adjusted Loss Ratio
796
2,440
579
Alaska - 0.0%
1,016
2,525
565
LT Bond
Common Stock
Preferred Stock
Total
Pennsylvania - 100.0%
All Other - 0.0%
DPW ($000)
2,344
0
0
0
0
0
821
2,125
581
Class 6
Rank and States
1. Pennsylvania
2. Alaska
3. Alabama
4. Arkansas
5. Arizona
All Other
129
1,096
380
Investment Grade
Class 1
Class 2
Class 3
Class 4
Class 5
20
2,580
230
Rank and LOBs
2. Total Cmbnd A&H
3. Aircraft
4. Comm'l Auto St
5. Comm'l Multi Prl
All Other
DPW ($000)
2,344
0
0
0
0
0
2008Y
2009Y
2010Y
2011Y
2012Y
0.00
NA
3,878
89.56
0.00
NA
2,120
-53.94
0.00
NA
2,849
44.79
0.00
NA
2,351
37.58
0.00
NA
2,344
37.05
when
pooling
h an iinter-company
t
i t
Financial stability is independent of size.
Financial Stability Ratings® (FSRs) are a leading indicator of the financial stability of
Property and Casualty (P&C) insurers and Title underwriters. An FSR summarizes our
opinion as to the insurer’s ability to insulate itself from the business cycle that exists
in the general economy as well as the underwriting cycle that exists in the insurance
industry. Thus, an FSR summarizes our opinion as to the relative ability of an insurer
to survive a downturn in general economic conditions as well as a downturn in the
underwriting cycle.
FSRs are not an endorsement of any particular insurer or its products. Insureds and
agents need to independently evaluate their relationship with a particular insurer as well
as the applicability of that insurer’s products to the needs of the insured or agent. FSRs
present our opinion of the ability of the insurer to meet its insurance related obligations
based upon our assessment of financial information.
Our focus is unique. While we acknowledge and recognize the importance of profitability,
we believe that balance sheet strength and financial integrity are the ultimate determinants
of the long term financial stability required to honor meritorious claims. Accordingly,
while operating profit remains an important element in the assignment of FSRs, the
ability of an insurer to remain financially stable under a variety of economic stress tests
requires a focus on balance sheet integrity. Quality and quantity of reinsurance, relative
adequacy of loss and loss adjustment expense reserves, the liquidity and quality of assets
and rate adequacy are some of the more critical items we evaluate.
Our rating process provides an objective baseline for assessing solvency based upon
changes in financial stability, as manifested in an insurer’s balance sheet. FSRs are
based upon a series of quantitative ratios and considerations that comprise our Financial
Stability Analysis Model.
The Financial Stability Analysis Model is the major component of the FSR assignment
process and can be applied to statutory insurance accounting data or data compiled under
Generally Accepted Accounting Principles (GAAP). The Financial Stability Analysis
Model includes a tactile review as well as computation and analysis of critical financial
ratios to determine the current and anticipated financial stability of the insurance
company being reviewed. The Financial Stability Analysis Model cross checks and
analyzes financial statement calculations and relationships.
A critical item to determine the financial stability of a P&C insurer is the calculation
of financial stability ratios measured against our financial stability benchmarks. These
ratios and benchmarks have been compiled on an industry-wide basis and have been
substantiated by third parties.
Since our incorporation in 1985, Demotech has proactively responded to the challenges
faced by the insurance industry. In 1989, Demotech gained acceptance from the Federal
National Mortgage Association (Fannie Mae) for FSRs of A or better. In 1990, we
received similar accreditation from Federal Home Loan Mortgage Corporation (Freddie
Mac). In 1993, the United States Department of Housing and Urban Development (HUD)
published its acceptance of FSRs of A or better. The acceptance of FSRs of A or better
leveled the playing field for regional P&C insurance companies while simultaneously
assisting insurance agents, reinsurers and insurance carriers through the elimination of
reinsurance endorsements and cut-through endorsements.
Demotech, Inc. Corporate Milestones
1986 First to issue Financial Stability Ratings® (FSRs) for health maintenance
organizations (HMOs).
1987 First to issue FSRs for public entity liability self-insured pools through the
development of our Management Audit Process.
1989 First to have Property and Casualty insurance company rating process formally
reviewed and accepted by Fannie Mae. An FSR of A or better eliminates the
need for property insurance cut-through endorsements by mortgage lenders.
1990 First to have Property and Casualty insurance company rating process formally
reviewed and accepted by Freddie Mac.
Began offering Property and Casualty insurance companies and Title
underwriters loss cost analysis and rate, rule and form filing assistance.
Addressed the National Association of Insurance Commissioners (NAIC)
requirements for Property and Casualty insurers to submit actuarial opinions
related to loss and loss adjustment expense reserves concurrent with the 1990
Property and Casualty annual statement.
1992 First to issue FSRs for Title underwriters.
First to have Property and Casualty insurance company rating process formally
1993 reviewed and accepted by HUD.
Fannie Mae issued Title underwriting guidelines, naming Demotech as an
1994 approved Title underwriter rating service.
First to promulgate Commercial Real Estate Recommendations (CRERs) to
1995 provide additional financial due diligence of Title underwriters involved in
larger real estate transactions.
1996 Contacted by the Florida Office of Insurance Regulation (OIR) when the
property insurance market encountered newly established insurers that did
not have the representative historical operating experience to meet traditional
rating requirements.
Demotech developed evaluation procedures for the assignment of FSRs to
newly formed companies.
Coordinated the first seminar regarding the implementation of Statements of
Actuarial Opinion for Title insurance companies on behalf of the Conference
of Consulting Actuaries.
2005 HUD approved Demotech’s rating process for professional liability insurance
under Notice H04-15, Professional Liability Insurance f or Section 232 and
223(f) Programs.
2007 Designated the Official Research Partner of Insurance Journal, providing
research, actuarial and statistical support and collaborating on special joint
reports pertaining to insurance industry performance and financial results.
2008 Introduced Insurance Agents’ Errors and Omissions Insolvency Gap Legal
Defense Coverage.
2009 Expanded the Insolvency Gap Coverage to include indemnity as well as legal
defense.
2010 Participated in a comprehensive examination of insurer financial strength
authored by Florida State University and The University of North Texas.
Solutions as Unique as Your Organization
Similarly, in 1996 we began reviewing newly formed P&C insurance companies
incorporated in the State of Florida to facilitate their efforts to depopulate the Florida
residual market mechanism. In 2005, FSRs of A or better were deemed acceptable
for qualification under HUD’s Section 232 and 223 (f) Programs, thereby assisting
financially stable risk retention groups writing nursing facility general and professional
liability insurance.
Demotech is committed to serving its clients while maintaining the highest standards.
Innovative thinking, strategic analysis, commitment, insight and on-going involvement
with the insurance industry allow us to provide solutions as unique as your organization.
We encourage you to contact us with any current needs or problems you are
experiencing. We are confident we can provide a solution for your organization.
Contact Douglas Powell at dpowell@demotech.com to discuss any needs or problems
your organization is experiencing.
We encourage you to contact us with any current needs or problems you are experiencing.
We are confident we can provide a solution.
®
®
Demotech, Inc.
2715 Tuller Parkway
Dublin, OH 43017-2310
www.demotech.com
®

to access analysis of risk retention groups – year-end

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