Demotech, Inc. Analysis of Risk Retention Groups

73
® Analysis of Risk Retention Groups Third Quarter 2011 Demotech, Inc.

Transcript of Demotech, Inc. Analysis of Risk Retention Groups

Page 1: Demotech, Inc. Analysis of Risk Retention Groups

®

Analysis of Risk Retention GroupsThird Quarter 2011

Demotech, Inc.

Douglas Powell
Typewritten Text
Douglas Powell
Typewritten Text
Page 2: Demotech, Inc. Analysis of Risk Retention Groups

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DRAGONFLY: 300 MILLION YEARS OLD

T-REX: EXTINCT

Nature knows size and survival are independent.Demotech, Inc. had to prove that to the insurance industry.

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2715 Tuller Parkway Dublin, Ohio 43017-2310Tel: 614 761-8602 800 354-7207 Fax: 614 761-0906

www.demotech.com

Analysis of Risk Retention Groups – Third Quarter 2011 The information contained in the Analysis of Risk Retention Groups – Third Quarter 2011 is sorted by company name in the first section and by state of domicile in the second section, so that you can easily identify RRGs domiciled within a specific jurisdiction. The information and analysis provided includes: RRGs currently assigned a Financial Stability Rating ® (FSR) by Demotech, Inc. NAIC number Company name of the RRG State of domicile Financial statement contact (including their phone number and address) Financial information excerpted from the RRG financial statements Financial ratios Schedule T data – through the current quarter Direct premium written by line of business – as reported at previous year-end.

Please keep in mind that even though Demotech, Inc. obtained the information from the NAIC, neither the NAIC or its authorized vendor, SNL, endorse any analysis or conclusion based upon the use of the NAIC’s data. If you would like me to consider additional information for analysis, please let me know. Demotech, Inc. Understands and Actively Supports Risk Retention Groups Demotech, Inc. understands the unique structure and opportunities that risk retention groups (RRGs) bring to the Property and Casualty industry. In our working relationship with the analysts and examiners of the various departments of insurance as well as other government entities and business associations, Demotech is often called upon for our expertise and perspective. Today, more than 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 that limit diversification. Thank you,

Douglas A. Powell Senior Financial Analyst, Demotech, Inc. (614) 526-3084 [email protected]

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NAIC # COMPANY FSR

Financial Stability Ratings (FSRs) - Risk Retention Groups®

as of 12/1/2011

12252 AEGIS Healthcare RRG, Inc. A

11710 Allied Professionals Insurance Company, RRG A'

12631 American Builders Insurance Company RRG, Inc. 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

11798 Continuing Care RRG, Inc. A

13018 Doctors & Surgeons National 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

11824 Intermodal Insurance Company, RRG A

12594 J.M. Woodworth RRG, Inc. A

11947 Lewis & Clark LTC RRG, Inc A

12147 Midwest Provider Insurance Company, RRG A

11806 National Assisted Living RRG, Inc. A

10234 National Service Contract Insurance Company (RRG) A

12275 New York Healthcare Insurance Company, Inc., RRG A

44130 Paratransit Insurance Company, RRG A'

11973 PCH Mutual Insurance Company, RRG A

11809 Ponce De Leon LTC RRG, Inc. A

13557 Sigma RRG, Inc. A

The most current FSRs must be verified by visiting www.demotech.com.

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Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 1250 BROADWAY, SUITE 3401, NEW YORK, NY 10001-3713 CLAIRE VERONICA OYELAJA (646) 808-0596 VT

ACBG RISK RETENTION GROUP, LLC12557 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 LINDA B. ELLIOTT (802) 864-2750 VT

ADVANCED PHYSICIANS INS RRG INC12166 2700 NORTH THIRD STREET, SUITE 3050, PHOENIX, AZ 85004-4620 ED CALDWELL (602) 200-6900 AZ

AEGIS HEALTHCARE RRG, INC.12252 555 FAIRMOUNT AVENUE, BALTIMORE, MD 21286 BARBARA LABUSKES 410-339-7263-120 DC

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JAY E. CURTIS (802) 864-6301 VT

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 1707 VILLAGE CENTER CIRCLE, SUITE 100, LAS VEGAS, NV 89134-0515 RICK O'BRIEN (702) 938-3175 NV

AGRI INSURANCE EXCHANGE RRG28380 5825 LAWTON LOOP EAST DRIVE INDIANAPOLIS, IN 46216-1064 P. DEAN DENHART (317) 541-1800 IN

ALLEGIANT INS CO INC A RRG11965 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3800 MARK HIRONAGA (808) 585-3526 HI

ALLIANCE OF NONPROFITS FOR INS RRG10023 2386 AIRPORT ROAD BARRE, VT 05641-8629 CINDY L. LYFORD (802) 371-2227 VT

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 1100 W. TOWN & COUNTRY RD., STE. 1400, ORANGE, CA 92868 DOUGLAS JOSEPH HAUSER 714-571-1864 AZ

ALLIED SERVICES RISK RETENTION GROUP12013 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

LEN T. LOGAN (877) 872-7475 SC

AMERICAN ASSOC OF OTHODONTISTS RRG10232 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150 REBECCA J. AITCHISON (802) 371-2229 AZ

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 27 NORTH 27TH STREET, SUITE 1900, CROWNE PLAZA, BILLINGS, MT 59101 KATIE GRAY 800-226-0793-340 MT

AMERICAN CONTRACTORS INS CO RRG12300 12222 MERIT DRIVE, SUITE 1660, DALLAS, TX 75251-3212 SUZANNE WALSH (800) 563-6051 TX

AMERICAN EXCESS INS EXCHANGE RRG10903 12554 HIGH BLUFF DRIVE, SUITE 430, SAN DIEGO, CA KATHRYN MICHENER BOUCHE (802) 863-4400 VT

AMERICAN FEED INDUSTRY INS CO RRG44202 4685 MERLE HAY ROAD, SUITE 200, DES MOINES, IA 50322-1982 SUSAN P. TINGLEFF (515) 254-0400 IA

AMERICAN SAFETY RRG INC25448 100 GALLERIA PARKWAY, SE, SUITE 700, ATLANTA, GA 30339-5947 MATTHEW ROBERT POLLAK (770) 485-4423 VT

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG

11534 111 NORTH HIGGINS, FOURTH FLOOR, MISSOULA, MT 59802 PATRICIA LORRAINE MALONEY 406-523-3908 MT

AMERIGUARD RRG INC12171 2386 AIRPORT ROAD BARRE, VT 05641-8629 SCOTT C. STONE (802) 371-2231 VT

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 1850 N. CENTRAL AVE., SUITE 1700, PHOENIX, AZ 85004 LEE MILIZIA 623-427-3208 AZ

ARCOA RISK RETENTION GROUP, INC.13177 1325 AIRMOTIVE WAY, SUITE 100, RENO, NV 89502-3294 MICHELLE RENEE TRIMBLE (602) 263-6755x4 NV

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP

13580 1700 EASTPOINT PARKWAY LOUISVILLE, KY 40223-4140 JAMES R. MUELLER (502) 244-1343 KY

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC

14005 ORG CORPORATION, P.O. BOX 510, BIGFORK, MT 59911-0510 JOHN S. MALONEY (718) 937-2010 MT

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 177 MEETING STREET, SUITE 470, CHARLESTON, SC 29401-3160 VIRGINIA ADRIHAN (843) 853-0446x2 SC

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 200 INVERNESS PARKWAY BIRMINGHAM, AL 35242-4813 MELANIE T. DIXON (205) 980-0009 DC

ATTORNEYS INSURANCE MUTUAL RRG INC22670 140 KENNEDY DRIVE SOUTH BURLINGTON, VT 05403-6710 KAREN M. VENNER (802) 651-3377 HI

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 311 SOUTH WACKER DRIVE, SUITE 5700, CHICAGO, IL 60606-6629 KEITH RUSSELL CRAVEN (312) 697-6950 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

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Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

ATTORNEYS LIAB PROTECTION SOC RRG32450 FLORENCE BUILDING, 111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401

MARY PATRICIA NORDHAGEN (406) 728-3113 MT

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448 GARRETT JAMES DAVENPORT (260) 486-0418 DC

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 BJORN K. HUBBARD (800) 226-0793x3 NV

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401 DANIEL JOHN SEMAN (406) 523-3873 MT

BAR VERMONT RISK RETENTION GROUP INC10174 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 JEREMIAH MAHANEY (802) 264-4715 VT

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 MEGAN HULETTE (802) 264-2086 VT

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 MICHAEL T. ROGERS (702) 678-6868 NV

BROADLINE RISK RETENTION GROUP, INC.13788 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MELISSA H. LAROSE (802) 864-1716 VT

CALIFORNIA HEALTHCARE INS CO INC RRG44504 9229 SIERRA COLLEGE BOULEVARD ROSEVILLE, CA 95661-5919 JEFFREY DUECK (916) 772-5110 HI

CARE RRG, INC.11825 2233 WISCONSIN AVE, N.W., SUITE 310, WASHINGTON, DC 20007 CHARLES HALSTEAD-JOHNSO 802-223-2200 DC

CAREGIVERS UNITED LIAB INS CO RRG11544 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

KIM CONNELLY BLOOMER (802) 371-2251 SC

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 1850 WEST WINCHESTER ROAD, SUITE 109, LIBERTYVILLE, IL 60048-5355 CHAD CURTIS SWIGERT (847) 549-8225 DC

CASSATT RISK RETENTION GROUP INC10808 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 SCOTT ANDREW MAILLE (802) 264-4711 VT

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP13784 111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401 DANIEL JOHN SEMAN (406) 523-3873 MT

CENTRAL PA PHYSICIANS RRG INC11694 177 MEETING STREET, SUITE 470, CHARLESTON, SC 29401-3160 VIRGINIA ADRIHAN (843) 853-0446x2 SC

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 2700 N. THIRD STREET, SUITE 3050, PHOENIX, AZ 85004-1129 GEMMA AGUSTIN TUANQUI 800-226-0793 AZ

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 15255 N. 40TH STREET, SUITE 109, PHOENIX, AZ 85032-4638 CAMELBACK CAPTIVE SERVICE 602-952-9532- AZ

CHATTAHOCHEE RRG CAPTIVE INS CO11065 14382 US HIGHWAY 19, SOUTH THOMASVILLE, GA 31757-4801 CORY E. BROWN (229) 226-1937x1 GA

CHC CAS RRG11531 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 AMY L. DAIGLE (802) 864-1717 VT

CIMARRON INSURANCE EXCHANGE RRG12308 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 PAULA A. FRENCH (802) 371-2321 VT

CIRCLE STAR INS CO RRG11839 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324 RENEE LAGUE (802) 223-2200 VT

CLAIM PROFESSIONALS LIAB INS CO RRG12172 17742 IRVINE BOULEVARD, SUITE 102, TUSTIN, CA 92780-3255 RAMON ROBERT RAMOS V (802) 371-2275 VT

CLARIAN HLTH RRG INC11992 340 WEST TENTH STREET, SUITE 3100, INDIANAPOLIS, IN 46202-3082 TONIA EPPS (843) 577-1034 SC

CLINIC MUTUAL INSURANCE CO RRG43770 1003 BISHOP STREET, SUITE 1220, HONOLULU, HI 96813-6436 JASON L. PALMER (808) 521-0730 HI

CMIC RISK RETENTION GROUP13756 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 SCOTT C. STONE (802) 371-2231 DC

COASTAL INS RRG INC11668 509 OLIVER ROAD MONTGOMERY, AL 36117-2207 JOHN MARK KILLINGSWORTH (334) 271-5515 AL

COLLEGE LIABILITY INS CO A RECIP RRG44598 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3810 SCOT STERENBERG (808) 585-3591 HI

COLLEGE RISK RETENTION GROUP, INC.13613 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JENNIFER L. PETTENGILL (802) 864-2111 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

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Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

COLUMBIA NATIONAL RRG INC10803 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JOHN H. RAYMOND (802) 864-2751 VT

COMCARE PRO INS RECIPROCAL RRG11864 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 JONATHAN J. MCKENZIE (802) 264-2073 VT

COMMUNITIES OF FAITH RRG INC11807 2711 MIDDLEBURG DRIVE, SUITE 309-A, COLUMBIA, SC 29204-2475 BJORN K. HUBBARD (800) 226-0793x3 SC

COMMUNITY BLOOD CENTERS EXCH RRG13893 7015 COLLEGE BOULEVARD, SUITE 400, OVERLAND PARK, KS 66211-1671 J. TODD ROSENBAUM (502) 882-4459 IN

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MELISSA H. LAROSE (802) 864-1716 VT

COMMUNITY HOSPITAL RRG11259 2547 WASHINGTON ROAD, 720 SUMMERFIELD COMMONS, UPPER SAINT CLAIR, PA 15241-2557

DONNA B. NORMAND (802) 871-5063 VT

CONSORTIUM RRG11528 150 BANK STREET, SUITE 201, BURLINGTON, VT 05401-4411 TARA JEAN SMITH (802) 735-1679 VT

CONSUMER SPECIALTIES INS CO RRG10075 2386 AIRPORT ROAD-BERLIN BARRE, VT 05641-8629 PAULA A. FRENCH (802) 371-2321 VT

CONTINUING CARE RRG, INC.11798 223-B HEATLEY STREET, MONCKS CORNER, SC 29461 KATIE GRAY 800-226-0793-340 SC

CONTRACTORS INS CO OF NORTH AMER RRG11603 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929 STACEY GIBBS (802) 264-4588 HI

CONTROLLED RISK INS CO OF VT RRG10341 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MELISSA H. LAROSE (802) 864-1716 VT

CPA MUTUAL INS CO OF AMERICA RRG10164 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 DAVID D. GUERINO (802) 264-2060 VT

CROSSFIT RISK RETENTION GROUP, INC.13720 111 NORTH SEPULVEDA BOULEVARD, SUITE 243, MANHATTAN BEACH, CA 90266-6849

TONY JAMES SCHMIDT (808) 988-3215 MT

CRUDEN BAY RRG INC11676 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 ABIGAIL M. BERNIER (802) 371-2233 VT

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 100 BLANK STREET, SUITE 610, BURLINGTON, VT 05401 JOHN H. RAYMOND (802) 864-2751 VT

DELAWARE PROFESSIONAL INSURANCE CO43125 845 THIRD AVENUE, 20TH FLOOR, NEW YORK, NY 10022-6601 I. DAVID GORDON (212) 687-2525 DE

DOCTORS & SURGEONS NATIONAL RRG13018 3370 SUGARLOAF PARKWAY SUITE G-2/302, LAWRENCEVILLE, GA 30044 SARA M CARPENTER 770-822-2696 KY

DUBOIS MEDICAL RRG11842 1200 G STREET, NW, SUITE 800, WASHINGTON, DC 20005-6705 BRIAN S. KLINE (814) 375-6377 DC

EASTERN DENTISTS INS CO RRG10115 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476 STEPHEN M. BROWN (802) 861-2930 VT

ELITE TRANSPORTATION RRG INC10125 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150 REBECCA J. AITCHISON (802) 371-2229 AZ

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)

12003 5430 W. SAHARA, LAS VEGAS, NV 89146 BJORN K. HUBBARD 800-226-0793 NV

EMERGENCY MEDICINE RRG INC12015 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238 MANNU LUO (843) 577-1035 SC

EMERGENCY PHYSICIANS INS CO RRG11714 1528 EUREKA ROAD, SUITE 102, ROSEVILLE, CA 95661-3047 PAUL SHAMPAY (916) 772-2080 NV

EVERGREEN USA RRG INC38466 10 FALCON ROAD LEWISTON, ME 04240-5833 ERIC GILCRIS (802) 264-4577 VT

FAIRWAY PHYSICIANS INS CO RRG11840 15255 NORTH 40TH STREET, SUITE 109, PHOENIX, AZ 85032-4638 RICHARD P. MARSHALL (602) 952-9532 DC

FAITH AFFILIATED RRG INC11698 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 KELLY BOURNE (843) 614-3132 SC

FEDERAL MOTOR CARRIERS RISK RETENTION GROUP, INC.12938 19 NORTH BRIDGE AVENUE RED BANK, NJ 07701-1012 ROBERT M. WILLIS (202) 434-8763 DE

FIRST AUTOMOTIVE INS RRG INC10619 2400 LOUISIANA BOULEVARD, NE ALBUQUERQUE, NM 87110-4303 LARRY K. HINSON (505) 881-2244 HI

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 8: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 4421 ARAMINGO AVENUE PHILADELPHIA, PA 19124-4101 JOSEPH SCHMIDT (215) 235-5000 SC

FIRST MEDICAL INS CO RRG11278 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JODI K. GUZZARDO (802) 864-6332 VT

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574 LEE M. MILIZIA (602) 427-3208 AZ

FRANKLIN CASUALTY INS CO RRG10842 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 DELISCA A. CHRISTIAN (802) 864-2110 VT

FREDERICKSBURG PROFESSIONAL RISK EXC12016 2386 AIRPORT ROAD BARRE, VT 05641-8629 SCOTT C. STONE (802) 371-2231 VT

GEISINGER INS CORP RRG12000 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 RONDA LYNN DEVINO (802) 264-4593 VT

GENERAL EASTERN SKI INS RRG INC10163 76 SAINT PAUL STREET BURLINGTON, VT 05401-4470 DYAN O'HERNE (802) 264-4713 VT

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150 SCOTT S. BRAUER (800) 872-7475 HI

GLOBAL HAWK INSURANCE COMPANY RRG11948 148 COLLEGE ST., SUITE 204, BURLINGTON, VT 5401 STEPHEN M BROWN 802-861-2930 x10 VT

GLOBAL INTL INS CO INC A RRG10991 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104 STEVE BEVINS (802) 223-2200 DC

GOLDEN INS CO RRG11145 9121 WEST RUSSELL ROAD, SUITE 113, LAS VEGAS, NV 89148-1238 LEN CLAPP (303) 388-5688x1 NV

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 DAWN M. DINARDO (843) 614-3134 SC

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 ANDREW CARLTON (800) 223-0793 NV

GRACO RRG INC11581 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 DAWN M. DINARDO (843) 614-3134 SC

GREEN HILLS INS CO RRG11941 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JEFFREY M. TUCKER (802) 864-5599 VT

GUARDIAN RRG INC11696 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 JOCELYN M. LYMAN (843) 694-9698 MT

GULF BUILDERS RRG INC11970 8300 NORTH HAYDEN ROAD, SUITE A100, SCOTTSDALE, AZ 85258-2479 TODD STEWART (480) 948-4351 SC

GUTHRIE RRG12014 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238 JASON MCMILLAN (843) 577-1032 SC

HAMDEN ASSURANCE RRG, INC.13057 30 MAIN STREET, SUITE 330, BURLINGTON, VT 05401-8427 JOSEPH BERNARD PERCY (802) 419-1218 VT

HEALTH CARE CAS RRG INC12236 8725 WEST HIGGINS ROAD, SUITE 810, CHICAGO, IL 60631-2734 JOSEPH ROGER HERMAN (773) 864-8280 DC

HEALTH NETWORK PROVIDERS MUT INS CO11813 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104 KATIE GRAY (800) 226-0793x3 DC

HEALTH PROVIDERS INS RECIPROCAL RRG10080 1003 BISHOP STREET, SUITE 1220, HONOLULU, HI 96813-6436 JASON L. PALMER (808) 521-0730 HI

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 201 S. MAIN STREET, SUITE 200, ANN ARBOR, MI 48104 PETER M FEENEY 734 996-2700 DC

HEALTHCARE PROVIDERS INS CO RRG11683 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

GEOFFREY LEWIS SALMON (404) 835-0454 SC

HEARTLAND HEALTHCARE RECIP RRG11998 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 DAVID D. GUERINO (802) 264-2060 VT

HERITAGE WARRANTY INS RRG INC11097 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

KIM CONNELLY BLOOMER (802) 371-2251 SC

HOME CONSTRUCTION INS CO RRG11950 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 KATIE GRAY (800) 226-0793x3 NV

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 9: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

HOUSING AUTHORITY RRG INC26797 189 COMMERCE COURT, P.O. BOX 189, CHESHIRE, CT 06410-0189 PAULETTE ACHILLI (203) 272-8220x4 VT

HOW INSURANCE COMPANY, A RISK RETENTION GROUP41246 11401 CENTURY OAKS TERRACE, SUITE 310, AUSTIN, TX 78758-8702 BRENDA J. STEWART (512) 404-6555 VA

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 1401 H STREET, NW, SUITE 1000, WASHINGTON, DC 20005-2031 CHARLES WARREN BEHR (202) 326-5464 VT

INDEMNITY INSURANCE CORPORATION, RRG12018 950 RIDGEBROOK ROAD, SUITE 1500, SPARKS, MD 21152-9390 JEFFREY BRIAN COHEN (410) 472-6000 DE

INDIANA HEALTHCARE RECIP RRG11692 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 ALIHAN ALIHAN (802) 264-2074 VT

INTERMODAL INSURANCE COMPANY, RRG11824 1800 SECOND STREET, SUITE 909 E., SARASOTA, FL 34236 TERESA MATTHEWS 941-955-0793 DC

J.M. WOODWORTH RRG, INC.12594 UUMC 3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA 30022 DONNA K. DALTON 678-781-2444 NV

JAMESTOWN INS CO RRG11589 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

JEFFRY M. DELMAS (802) 371-2252 SC

JOLIET AREA RRG CAPTIVE INS CO12159 14382 US HIGHWAY 19, SOUTH THOMASVILLE, GA 31757-4801 CORY E. BROWN (229) 226-1937x1 GA

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 201 EAST JEFFERSON STREET, SUITE 104, LOUISVILLE, KY 40202-1250 JAY E. CURTIS (802) 864-6301 KY

KENTUCKY HOSPITAL INS CO RRG11939 2501 NELSON MILLER PARKWAY LOUISVILLE, KY 40223-2221 DEBORAH ROSE RILEY (502) 992-4329 KY

LAKE STREET RRG INC11803 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 THERESA MAE CARPENTER (802) 862-4400 VT

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 GEMMA AGUSTIN-TUANQUI (800) 226-0793 NV

LENDERS PROTECTION ASSUR CO RRG11500 1212 NORTH 96TH STREET OMAHA, NE 68114-2274 RONALD LEE WHEELER (402) 399-3325 NE

LEWIS & CLARK LTC RRG, INC11947 3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA 30022 DONNA K. DALTON 678-781-2400 NV

LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY12627 5679 SOUTH REDWOOD ROAD, SUITE 26, SALT LAKE CITY, UT 84123-5464 V. J. PETIT (801) 262-3525 UT

LIFE SERVICES NETWORK RECIP INS RRG11958 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104 TERESA MARIE MATTHEWS (941) 955-0793 DC

LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP14084 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 LINDA VILLANI (800) 226-0793x3 NV

LVHN RRG11684 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238 MANNU LUO (843) 577-1035 SC

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 NEMOURS BUILDING, 1007 NORTH ORANGE STREET, SUITE 1410, WILMINGTON, DE 19801-1242

PATRICK GHISLAIN THERIAULT (802) 861-2630 DE

MARATHON FIN INS CO INC RRG11117 1710 CORPORATE CROSSING, SUITE ONE, O'FALLON, IL 62269-3741 STEPHEN D. KANTNER (302) 651-8354 DE

MCIC VERMONT INC RRG10697 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 DIANE M. HANSON (802) 652-1571 VT

MD RISK RETENTION GROUP, INC.12355 805 MADISON STREET, SUITE 901, SEATTLE, WA 98104-1172 BRENDA M. OLSON (406) 282-0170 MT

MEDAMERICA MUTUAL RRG INC26257 3000 OAK ROAD, SUITE 600, WALNUT CREEK, CA 94597-2071 CHRISTOPHER PAUL MERTES (925) 949-0101 HI

MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP12576 2325 E CAMELBACK ROAD, SUITE 600, PHOENIX, AZ 85016-3474 WENDY RAE BROWN (602) 337-6247 AZ

MEDPRO RRG RISK RETENTION GROUP13589 1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448 GARRETT JAMES DAVENPORT (260) 486-0418 DC

MEDSTAR LIABILITY LTD INS CO INC RRG10124 5565 STERRETT PLACE, FIFTH FLOOR, COLUMBIA, MD 21044-2665 MARCY WATERFALL (802) 864-6269 DC

MENTAL HEALTH RISK RETENTION GROUP44237 103 EISENHOWER PARKWAY, SUITE 101, ROSELAND, NJ 07068-1029 MERISSA S. BUSHEY (802) 863-2398 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 10: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476 THAO T. NGUYEN (802) 861-2930x1 VT

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 11201 N. TATUM, SUITE 300, PHOENIX, AZ 85028 JASON PALMER 808-521-0730 AZ

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 ANDREW HAMME (802) 264-4592 VT

MOUNTAIN LAUREL RRG INC11547 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 AMANDA R. WESCOTT (802) 864-2037 VT

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 DANIEL THANH NGUYEN (802) 264-2072 MT

MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.12779 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 KELLY BOURNE (843) 614-3132 WV

NATIONAL ASSISTED LIVING RRG, INC.11806 3740 DAVINCI COURT, STE. 130, NORCROSS, GA 30092 ROSE PATRICK 770-455-4913 DC

NATIONAL BUILDERS & CONTRACTORS INS12235 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 GEMMA AGUSTIN-TUANQUI (800) 226-0793 NV

NATIONAL CATHOLIC RRG10083 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476 MARY MARIO RICHARDS (802) 861-2930x1 VT

NATIONAL CONTRACTORS INS CO INC RRG12293 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

NATIONAL GUARDIAN RRG INC36072 4075 COPPER RIDGE DRIVE TRAVERSE CITY, MI 49684-7059 MARK A. BURNHEIMER (231) 946-6200 HI

NATIONAL HOME INSURANCE CO RRG44016 ONE DENVER HIGHLANDS, 10375 EAST HARVARD AVENUE, SUITE 550, DENVER, CO 80231-3966

HUGH B. MCCREERY (303) 306-0002 CO

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

NICOLE S. HUBLER (802) 371-2249 SC

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 MICHAEL JOHN COULTER SC

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007 CHARLES HALSTEAD-JOHNSO 802-223-2200 DC

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 TERESA MARIE MATTHEWS (941) 955-0793 NV

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP

13792 10375 EAST HARVARD AVENUE, SUITE 100, DENVER, CO 80231-3966 BJORN K. HUBBARD (800) 226-0793x329

DC

NEW STAR RISK RETENTION GROUP, INC.12532 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

PIPER H. CROCKETT (843) 573-4946 SC

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 1001 PENNSYLVANIA AVE., N.W., SUITE 400 SOUTH, WASHINGTON, DC 20004

KATIE GRAY 800-226-0793 DC

NJ CAR RISK RETENTION GROUP12581 1200 G STREET, NW, SUITE 800, WASHINGTON, DC 20005-6705 ROBERT MYERS (609) 883-5056 DC

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP

13059 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 LISA M. KANE (802) 864-2120 VT

NOVUS INS CO RRG10752 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

ELIZABETH J. FORNEY (843) 573-4834 SC

OASIS RECIPROCAL RISK RETENTION GROUP13644 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 GARY A. GRISWOLD (802) 658-9466 VT

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.

12845 27 NORTH 27TH STREET, SUITE 1900, BILLINGS, MT BJORN K. HUBBARD (800) 226-0793x329

MT

OCEAN RRG INC10158 837 KEARNY AVENUE KEARNY, NJ 07032-3241 MARY CLAIRE GOFF (877) 587-1763 DC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 11: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

OCEANUS INS CO A RRG12189 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

LEN T. LOGAN (877) 872-7475 SC

OLYMPIA RISK RETENTION GROUP, INC.13062 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574 KIMBERLY E. WACK (602) 427-3217 AZ

OMS NATL INS CO RRG44121 6133 NORTH RIVER ROAD, SUITE 650, ROSEMONT, IL 60018-5173 KATHERINE ANN EHMANN (847) 384-0041 IL

OOIDA RISK RETENTION GROUP INC10353 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324 STEVE BEVINS (802) 223-2200 VT

OPHTHALMIC MUTUAL INS CO RRG44105 655 BEACH STREET SAN FRANCISCO, CA 94109-1336 LES J. SCACCALOSI (415) 202-4618 VT

ORANGE COUNTY MEDICAL RECIP INS RRG12183 2999 NORTH 44TH STREET, SUITE 550, PHOENIX, AZ 85018-7295 TERESA MARIE MATTHEWS (941) 955-0793 AZ

ORDINARY MUTUAL A RRG CORP10171 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 TRISHA L. DESRANLEAU (802) 652-1556 VT

PACE RRG INC11575 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 GARY P. O'HARE (802) 652-1568 VT

PARATRANSIT INSURANCE COMPANY, RRG44130 1000 RIDGEWAY LOOP ROAD, MEMPHIS, TN 38120 ANITA M. PERKINS 802-371-2219 TN

PCH MUTUAL INSURANCE COMPANY, RRG11973 1800 SECOND STREET, SUITE 909 E., SARASOTA, FL 34236 TERESA MARIE MATTHEWS 941-955-0793 DC

PEACE CHURCH RRG INC11846 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476 MARY MARIO RICHARDS (802) 861-2930x1 VT

PEDIATRICANS INS RRG OF AMER11772 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104 BJORN K. HUBBARD (800) 226-0793x3 DC

PELICAN INS RRG11587 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 JONATHAN J. MCKENZIE (802) 264-2073 VT

PHOEBE RECIPROCAL RRG12004 177 MEETING STREET, SUITE 470, CHARLESTON, SC 29401-3160 VIRGINIA ADRIHAN (843) 853-0446x2 SC

PHP RISK RETENTION GROUP, LIMITED12995 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 SUSAN MUSCAT (802) 658-9466 AZ

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.13810 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150 JAMES SHOOK (802) 371-2273 NV

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 ANDREW CARLTON (800) 223-0793 NV

PHYSICIANS COMPLIANCE LIABILITY INSURANCE COMPANY, RRG12350 832 WILLOW STREET RENO, NV 89502-1304 MAURICIO FERNANDEZ (305) 662-7839 NV

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 BUILDING G, 7890 PETERS ROAD, SUITE 106, PLANTATION, FL 33324-4028 ANCA VAGUE (954) 236-2400 NV

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP

12918 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 AMANDA R. WESCOTT (802) 864-2037 VT

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238 CHRISTOPHER CRAIG LEIGH (843) 577-1360 SC

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 STACEY GIBBS (802) 264-4588 VT

PHYSICIANS REIMBURSEMENT RRG10934 2386 AIRPORT ROAD BARRE, VT 05641-8629 ALICIA RUBALCABA (802) 371-2216 VT

PHYSICIANS RISK RETENTION GROUP LLC13046 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

PHYSICIANS SPECIALTY LTD RRG11513 4535 DRESSLER ROAD, NW CANTON, OH 44718-2545 JEFFRY M. DELMAS (802) 371-2252 SC

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 C/O WILLIS MANAGEMENT (HAWAII), 1003 BISHOP STREET, HONOLULU, HI 96813-6400

JASON L. PALMER (808) 521-0730 HI

PINE TREE INS RECIPROCAL RRG12348 2386 AIRPORT ROAD BARRE, VT 05641-8629 ALICIA RUBALCABA (802) 371-2216 VT

PINELANDS INS CO RRG INC12198 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104 ANDREW CARLTON (800) 223-0793 DC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 12: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MARCY WATERFALL (802) 864-6269 VT

PINNACLE RRG INC11858 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104 RENEE LAGUE (802) 223-2200 DC

PONCE DE LEON LTC RRG, INC.11809 3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA 30022 DONNA K. DALTON 678-781-2444 FL

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 3250 GREY HAWK COURT, UNIT Z, CARLSBAD, CA 92010-6651 MARY CLAIRE GOFF (877) 587-1763 MT

PREFERRED PHYSICIANS MEDICAL RRG44083 9000 WEST 67TH STREET SHAWNEE MISSION, KS 66202-3656 BRUCE WILLIAM ANDERSON (913) 262-2585 MO

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 575 SOUTH SALIMAN ROAD CARSON CITY, NV 89701-5000 JESSICA CONTRERAS, PHYLLIS Z (775) 887-2480 NV

PROAIR RISK RETENTION GROUP, INC.13179 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 TERESA MARIE MATTHEWS (941) 955-0793 NV

PROBUILDERS SPECIALTY INS CO RRG11671 2859 PACES FERRY ROAD, SUITE 800, ATLANTA, GA 30339-5733 CRAIG BOWDEN (770) 257-1709 DC

PROFESSIONAL MEDICAL INS RRG INC10840 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929 CHRISTINA KAMAKA (808) 540-4305 HI

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MICHAEL A. CZAPLICKE (802) 864-2109 VT

PROFESSIONALS RISK RETENTION GROUP, INC.13067 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)

11350 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MARCY WATERFALL (802) 864-6269 VT

RED CLAY RISK RETENTION GROUP, INC.13078 14382 US HIGHWAY 19, SOUTH THOMASVILLE, GA 31757-4801 CORY E. BROWN (229) 226-1937x1 SC

RED ROCK RISK RETENTION GROUP, INC.13736 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574 LEE M. MILIZIA (602) 427-3208 AZ

REGIONAL HEALTH INS CO RRG12010 1333 H STREET, NW, SUITE 820, WASHINGTON, DC 20005-4707 DEBORAH ANN CANECO (802) 861-6802 DC

REPUBLIC RRG12019 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

ROBERT G. MEETZE (843) 573-4676 SC

RESIDENTIAL INS CO INC A RRG10691 1123 11TH AVENUE, SUITE 403A, HONOLULU, HI 96816-2433 HUGH B. MCCREERY (303) 306-0002 HI

RESTORATION RISK RETENTION GROUP, INC.12209 2999 NORTH 44TH STREET, SUITE 550, PHOENIX, AZ 85018-7295 GEMMA AGUSTIN-TUANQUI (800) 226-0793 AZ

SAINT LUKE'S HLTH SYSTEM RRG11712 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384 ALICIA D. COLELLA (802) 371-2238 SC

SAMARITAN RISK RETENTION GROUP, INC.12511 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 DAWN M. DINARDO (843) 614-3134 SC

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.

12524 STERLING PLAZA, 5949 SHERRY LANE, SUITE 1175, DALLAS, TX 75225-8075 MARY CLAIRE GOFF (877) 587-1763 DC

SCHUYKILL CROSSING RECIPROCAL RRG11808 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 BILL MOURELATOS (802) 652-1558 VT

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 7251 WEST LAKE MEAD BOULEVARD, SUITE 401, LAS VEGAS, NV 89128-8370 REBECCA S. BOUDREAU (802) 864-1710 NV

SECURITY AMERICA RRG INC11267 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JODI K. GUZZARDO (802) 864-6332 VT

SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG13571 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

SHAMUS ROFF (802) 371-2253 DC

SENTINEL ASSUR RRG INC12005 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3810 SCOT STERENBERG (808) 585-3591 HI

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 13: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

SIGMA RRG, INC.13557 C/O AON INSURANCE MANAGERS, 1 POSTON ROAD, SUITE 1, CHARLESTON, SC 29407

EMI SWAIM 843-614-3136 DC

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 KELLY BOURNE (843) 614-3132 SC

SPIRIT MOUNTAIN INS CO RRG INC10754 607 14TH STREET, NW, SUITE 900, WASHINGTON, DC 20005-2019 CHARLES HALSTEAD-JOHNSO (802) 223-2200 DC

ST CHARLES INS CO RRG11114 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

LEN T. LOGAN (877) 872-7475 SC

ST LUKES HEALTH NETWORK INS CO RRG11688 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 MARY DESRANLEAU (802) 264-4710 VT

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.13993 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 KATIE GRAY (800) 226-0793x3 NV

STATES SELF-INSURERS RRG44075 222 SOUTH NINTH STREET, SUITE 1300, MINNEAPOLIS, MN 55402-3332 SHERYL ANN SATTLER (612) 766-3000 VT

STICO MUT INS CO RRG10476 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 BECKI MINOLI (802) 264-4576 VT

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441 KELLY BOURNE (843) 614-3132 SC

SUNLAND RISK RETENTION GROUP, INC.14026 14362 NORTH FRANK LLOYD WRIGHT BOULEVARD, SUITE 1000, SCOTTSDALE, AZ 85260-8847

LAURA LEE DURKIN (800) 872-7475 DE

SUPERIOR INS CO RRG11669 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

ROBERT G. MEETZE (843) 573-4676 SC

TERRA INS CO RRG10113 2386 AIRPORT ROAD BARRE, VT 05641-8629 ABIGAIL M. BERNIER (802) 371-2233 VT

THE HEALTHCARE UNDERWRITING CO RRG10152 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MARCY WATERFALL (802) 864-6269 VT

TITAN INS CO INC RRG11153 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

SHAMUS ROFF (802) 371-2253 SC

TITLE INDUSTRY ASSURANCE CO RRG10084 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 TRISHA L. DESRANLEAU (802) 652-1556 VT

UNITED CENTRAL PA RRG11548 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477 SHERI TREMBLAY (802) 652-1554 VT

UNITED CONTRACTORS INS CO INC RRG12280 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

NICOLE S. HUBLER (802) 371-2249 DE

UNITED EDUCATORS INS RRG INC10020 TWO WISCONSIN CIRCLE, FOURTH FLOOR, CHEVY CHASE, MD 20815-9913 KAREN LEE VERDON (301) 215-6423 VT

UNITED HOME INSURANCE CO A RRG10712 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 DELISCA A. CHRISTIAN (802) 864-2110 VT

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 ANDREW CARLTON (800) 223-0793 NV

UV INSURANCE RISK RETENTION GROUP, INC.13988 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929 CHRISTINA KAMAKA (808) 540-4305 HI

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 2007 POOLE DRIVE HUNTSVILLE, AL 35810-3891 SUSAN MARIE URIE (843) 640-3170 OK

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 201 S. MAIN STREET, SUITE 200, ANN ARBOR, MI 48104 PETER M FEENEY 734 996-2700 DC

WARREN RRG INC11802 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JAY E. CURTIS (802) 864-6301 VT

WELLSPAN RRG11682 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JENNIFER L. PETTENGILL (802) 864-2111 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 14: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by Company Name

WESTERN INS RRG INC11978 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574 KIMBERLY E. WACK (602) 427-3217 AZ

WESTERN PACIFIC MUT INS CO RRG40940 9265 MADRAS COURT LITTLETON, CO 80130-4444 SHERLYN WILKINSON FARRELL (303) 263-0311 CO

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP13154 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 LISA H. MANLEY (802) 864-2124 VT

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 ANITA M. PERKINS (802) 371-2219 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 15: Demotech, Inc. Analysis of Risk Retention Groups

COMPANYNAIC Cash and Invested Assets

Net Reinsurance

Risk Retention Groups - AssetsOther Assets Total Assets

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 $2,867,159 $0 $3,999,034$1,131,875

ACBG RISK RETENTION GROUP, LLC12557 $2,153,899 $0 $3,380,957$1,227,058

ADVANCED PHYSICIANS INS RRG INC12166 $1,322,222 $0 $1,392,203$69,981

AEGIS HEALTHCARE RRG, INC.12252 $1,778,758 $74,358 $3,361,215$1,508,099

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 $3,691,227 $0 $4,289,885$598,658

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 $1,034,853 $0 $1,560,661$525,808

AGRI INSURANCE EXCHANGE RRG28380 $12,404,226 $0 $12,462,173$57,947

ALLEGIANT INS CO INC A RRG11965 $9,352,950 $1,108,244 $11,394,580$933,386

ALLIANCE OF NONPROFITS FOR INS RRG10023 $43,149,872 $0 $52,856,978$9,707,106

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 $21,445,504 $244,653 $23,577,711$1,887,554

ALLIED SERVICES RISK RETENTION GROUP12013 $5,558,568 $0 $5,590,043$31,475

AMERICAN ASSOC OF OTHODONTISTS RRG10232 $31,791,043 $0 $33,439,527$1,648,484

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 $87,498 $61,451 $1,191,236$1,042,287

AMERICAN CONTRACTORS INS CO RRG12300 $6,666,553 $0 $19,487,846$12,821,293

AMERICAN EXCESS INS EXCHANGE RRG10903 $396,651,484 $0 $399,782,194$3,130,710

AMERICAN FEED INDUSTRY INS CO RRG44202 $5,723,923 $0 $5,902,031$178,108

AMERICAN SAFETY RRG INC25448 $9,554,700 $0 $15,057,553$5,502,853

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG11534 $10,285,745 $0 $11,810,109$1,524,364

AMERIGUARD RRG INC12171 $11,376,769 $0 $12,038,659$661,890

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 $62,430,184 $344,405 $83,946,919$21,172,330

ARCOA RISK RETENTION GROUP, INC.13177 $8,587,021 $0 $9,745,774$1,158,753

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP13580 $1,106,412 $0 $2,253,925$1,147,513

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC14005 $547,047 $0 $673,342$126,295

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 $2,125,121 $0 $2,146,729$21,608

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 $14,899,768 $0 $16,216,870$1,317,102

ATTORNEYS INSURANCE MUTUAL RRG INC22670 $18,279,560 $0 $19,660,874$1,381,314

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 $84,291,351 $0 $132,010,884$47,719,533

ATTORNEYS LIAB PROTECTION SOC RRG32450 $82,292,306 $0 $92,161,524$9,869,218

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 $1,441,248 $12,039 $1,530,218$76,931

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 $20,260,670 $0 $21,661,687$1,401,017

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 $1,366,250 $0 $1,624,958$258,708

BAR VERMONT RISK RETENTION GROUP INC10174 $16,619,388 $0 $18,682,231$2,062,843

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 $17,461,796 $0 $23,956,196$6,494,400

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 $1,755,623 $0 $2,197,278$441,655

BROADLINE RISK RETENTION GROUP, INC.13788 $54,951,786 $0 $83,630,504$28,678,718

CALIFORNIA HEALTHCARE INS CO INC RRG44504 $95,497,370 $0 $112,660,347$17,162,977

CARE RRG, INC.11825 $9,243,729 $806,155 $11,509,722$1,459,838

CAREGIVERS UNITED LIAB INS CO RRG11544 $29,152,351 $87,011 $32,566,396$3,327,034

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 $40,764,339 $0 $68,153,623$27,389,284

CASSATT RISK RETENTION GROUP INC10808 $4,799,847 $0 $6,671,763$1,871,916

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP13784 $643,975 $0 $678,738$34,763

CENTRAL PA PHYSICIANS RRG INC11694 $55,432,975 $0 $57,992,029$2,559,054

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 $11,042,505 $0 $14,303,844$3,261,339

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 $3,557,888 $18,659 $3,661,911$85,364

CHATTAHOCHEE RRG CAPTIVE INS CO11065 $5,020,875 $0 $5,259,635$238,760

CHC CAS RRG11531 $33,340,762 $0 $36,134,170$2,793,408

CIMARRON INSURANCE EXCHANGE RRG12308 $4,062,840 $0 $6,796,094$2,733,254

CIRCLE STAR INS CO RRG11839 $1,838,742 $0 $3,488,617$1,649,875

CLAIM PROFESSIONALS LIAB INS CO RRG12172 $1,585,342 $0 $2,691,456$1,106,114

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 16: Demotech, Inc. Analysis of Risk Retention Groups

COMPANYNAIC Cash and Invested Assets

Net Reinsurance

Risk Retention Groups - AssetsOther Assets Total Assets

CLARIAN HLTH RRG INC11992 $1,582,848 $0 $12,669,854$11,087,006

CLINIC MUTUAL INSURANCE CO RRG43770 $6,440,179 $0 $6,783,707$343,528

CMIC RISK RETENTION GROUP13756 $3,269,839 $0 $3,559,133$289,294

COASTAL INS RRG INC11668 $48,072,310 $0 $52,250,130$4,177,820

COLLEGE LIABILITY INS CO A RECIP RRG44598 $10,395,799 $0 $12,482,215$2,086,416

COLLEGE RISK RETENTION GROUP, INC.13613 $9,304,957 $0 $18,969,059$9,664,102

COLUMBIA NATIONAL RRG INC10803 $1,747,848 $0 $1,779,813$31,965

COMCARE PRO INS RECIPROCAL RRG11864 $3,472,478 $0 $4,362,651$890,173

COMMUNITIES OF FAITH RRG INC11807 $12,685,891 $0 $13,191,936$506,045

COMMUNITY BLOOD CENTERS EXCH RRG13893 $22,035,691 $0 $24,119,005$2,083,314

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 $112,964,112 $0 $119,187,142$6,223,030

COMMUNITY HOSPITAL RRG11259 $175,176,593 $0 $186,887,866$11,711,273

CONSORTIUM RRG11528 $8,860,546 $0 $9,006,057$145,511

CONSUMER SPECIALTIES INS CO RRG10075 $5,423,880 $0 $5,998,804$574,924

CONTINUING CARE RRG, INC.11798 $2,903,648 $0 $5,095,222$2,191,574

CONTRACTORS INS CO OF NORTH AMER RRG11603 $35,005,616 $0 $36,383,541$1,377,925

CONTROLLED RISK INS CO OF VT RRG10341 $54,737,570 $0 $56,221,786$1,484,216

CPA MUTUAL INS CO OF AMERICA RRG10164 $18,288,430 $78,443 $22,962,051$4,595,178

CROSSFIT RISK RETENTION GROUP, INC.13720 $767,516 $0 $1,115,790$348,274

CRUDEN BAY RRG INC11676 $10,694,575 $0 $11,567,223$872,648

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 $4,025,096 $0 $6,393,691$2,368,595

DELAWARE PROFESSIONAL INSURANCE CO43125 $9,748,807 $0 $10,084,723$335,916

DOCTORS & SURGEONS NATIONAL RRG13018 $5,247,515 $0 $6,568,554$1,321,039

DUBOIS MEDICAL RRG11842 $6,881,706 $0 $6,934,281$52,575

EASTERN DENTISTS INS CO RRG10115 $39,401,947 $0 $44,774,699$5,372,752

ELITE TRANSPORTATION RRG INC10125 $10,852,073 $0 $13,525,664$2,673,591

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)12003 $11,687,042 $301,886 $17,386,945$5,398,017

EMERGENCY MEDICINE RRG INC12015 $9,325,049 $0 $11,777,345$2,452,296

EMERGENCY PHYSICIANS INS CO RRG11714 $34,585,910 $0 $39,591,674$5,005,764

EVERGREEN USA RRG INC38466 $10,927,211 $0 $15,359,372$4,432,161

FAIRWAY PHYSICIANS INS CO RRG11840 $13,922,016 $3,655,725 $30,176,229$12,598,488

FAITH AFFILIATED RRG INC11698 $7,485,838 $0 $7,944,063$458,225

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 $11,256,389 $0 $21,255,718$9,999,329

FIRST MEDICAL INS CO RRG11278 $98,956,095 $0 $111,725,030$12,768,935

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 $3,817,970 $0 $4,136,946$318,976

FRANKLIN CASUALTY INS CO RRG10842 $1,253,705 $0 $41,103,391$39,849,686

FREDERICKSBURG PROFESSIONAL RISK EXC12016 $20,644,774 $0 $26,734,120$6,089,346

GEISINGER INS CORP RRG12000 $2,401,857 $0 $18,458,430$16,056,573

GENERAL EASTERN SKI INS RRG INC10163 $1,194,101 $0 $2,925,800$1,731,699

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 $1,009,660 $0 $1,010,133$473

GLOBAL HAWK INSURANCE COMPANY RRG11948 $7,061,168 $0 $8,959,630$1,898,462

GLOBAL INTL INS CO INC A RRG10991 $17,732,983 $0 $18,861,912$1,128,929

GOLDEN INS CO RRG11145 $3,436,648 $0 $4,825,067$1,388,419

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 $2,431,504 $0 $2,690,818$259,314

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 $670,204 $0 $735,692$65,488

GRACO RRG INC11581 $708,750 $0 $1,434,433$725,683

GREEN HILLS INS CO RRG11941 $19,176,870 $0 $22,933,033$3,756,163

GUARDIAN RRG INC11696 $4,434,496 $0 $5,342,030$907,534

GUTHRIE RRG12014 $46,677,530 $0 $54,310,798$7,633,268

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 17: Demotech, Inc. Analysis of Risk Retention Groups

COMPANYNAIC Cash and Invested Assets

Net Reinsurance

Risk Retention Groups - AssetsOther Assets Total Assets

HAMDEN ASSURANCE RRG, INC.13057 $1,711,609 $0 $69,113,065$67,401,456

HEALTH CARE CAS RRG INC12236 $16,013,028 $24,618,511 $47,252,269$6,620,730

HEALTH NETWORK PROVIDERS MUT INS CO11813 $6,668,052 $0 $7,586,252$918,200

HEALTH PROVIDERS INS RECIPROCAL RRG10080 $69,606,223 $0 $74,288,823$4,682,600

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 $18,098,517 $98,061,958 $150,723,106$34,562,631

HEALTHCARE PROVIDERS INS CO RRG11683 $58,694,174 $0 $60,846,979$2,152,805

HEARTLAND HEALTHCARE RECIP RRG11998 $13,554,596 $0 $14,267,735$713,139

HERITAGE WARRANTY INS RRG INC11097 $766,210 $760,000 $1,526,210$0

HOME CONSTRUCTION INS CO RRG11950 $5,628,367 $0 $6,378,016$749,649

HOUSING AUTHORITY RRG INC26797 $294,002,900 $0 $306,421,143$12,418,243

HOW INSURANCE COMPANY, A RISK RETENTION GROUP41246 $121,214,923 $0 $123,445,017$2,230,094

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 $265,563,989 $2,649,859 $291,487,008$23,273,160

INDEMNITY INSURANCE CORPORATION, RRG12018 $5,489,572 $1,181,693 $34,165,106$27,493,841

INDIANA HEALTHCARE RECIP RRG11692 $25,395,170 $0 $26,321,108$925,938

INTERMODAL INSURANCE COMPANY, RRG11824 $677,665 $7,719,848 $8,615,119$217,606

J.M. WOODWORTH RRG, INC.12594 $9,754,520 $6,927,407 $19,686,463$3,004,536

JAMESTOWN INS CO RRG11589 $3,084,125 $0 $5,955,346$2,871,221

JOLIET AREA RRG CAPTIVE INS CO12159 $7,847,292 $0 $8,374,392$527,100

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 $44,690,971 $0 $49,210,149$4,519,178

KENTUCKY HOSPITAL INS CO RRG11939 $19,689,019 $0 $21,263,071$1,574,052

LAKE STREET RRG INC11803 $2,607,601 $0 $2,683,586$75,985

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 $7,426,303 $0 $11,117,275$3,690,972

LENDERS PROTECTION ASSUR CO RRG11500 $2,384,913 $0 $2,569,150$184,237

LEWIS & CLARK LTC RRG, INC11947 $12,538,177 $5,101,703 $24,304,046$6,664,166

LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY12627 $3,545,539 $0 $6,380,390$2,834,851

LIFE SERVICES NETWORK RECIP INS RRG11958 $7,353,878 $0 $7,648,254$294,376

LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP14084 $504,343 $0 $504,343$0

LVHN RRG11684 $33,601,708 $0 $43,780,077$10,178,369

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 $2,193,123 $0 $3,753,308$1,560,185

MARATHON FIN INS CO INC RRG11117 $3,514,998 $0 $14,943,148$11,428,150

MD RISK RETENTION GROUP, INC.12355 $12,319,862 $0 $13,309,365$989,503

MEDAMERICA MUTUAL RRG INC26257 $63,515,617 $0 $69,643,677$6,128,060

MEDPRO RRG RISK RETENTION GROUP13589 $5,107,173 $9,287,008 $27,292,987$12,898,806

MEDSTAR LIABILITY LTD INS CO INC RRG10124 $3,693,767 $1,657,487 $5,797,602$446,348

MENTAL HEALTH RISK RETENTION GROUP44237 $22,208,432 $142,596 $24,249,312$1,898,284

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 $5,699,519 $0 $9,400,189$3,700,670

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 $7,969,355 $996,880 $10,047,548$1,081,313

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 $277,089 $0 $1,569,128$1,292,039

MOUNTAIN LAUREL RRG INC11547 $13,467,774 $0 $16,091,549$2,623,775

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 $91,991,413 $0 $93,232,883$1,241,470

MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.12779 $23,575,585 $0 $25,691,431$2,115,846

NATIONAL ASSISTED LIVING RRG, INC.11806 $6,403,069 $0 $6,864,607$461,538

NATIONAL BUILDERS & CONTRACTORS INS12235 $4,512,430 $0 $5,476,774$964,344

NATIONAL CATHOLIC RRG10083 $51,811,915 $0 $63,434,699$11,622,784

NATIONAL CONTRACTORS INS CO INC RRG12293 $6,285,957 $9,264,991 $18,560,142$3,009,194

NATIONAL GUARDIAN RRG INC36072 $11,790,139 $1,202,361 $16,474,007$3,481,507

NATIONAL HOME INSURANCE CO RRG44016 $50,140,567 $0 $54,110,241$3,969,674

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 $4,619,233 $310,301 $8,181,030$3,251,496

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 $3,791,751 $0 $5,186,392$1,394,641

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 18: Demotech, Inc. Analysis of Risk Retention Groups

COMPANYNAIC Cash and Invested Assets

Net Reinsurance

Risk Retention Groups - AssetsOther Assets Total Assets

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 $9,242,494 $87,432 $9,490,671$160,745

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 $2,871,746 $0 $3,153,839$282,093

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP13792 $7,889,519 $0 $9,961,802$2,072,283

NEW STAR RISK RETENTION GROUP, INC.12532 $7,837,422 $0 $9,399,159$1,561,737

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 $9,327,460 $29,253 $14,852,205$5,495,492

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP13059 $7,393,563 $0 $7,666,362$272,799

NOVUS INS CO RRG10752 $4,117,870 $369,706 $5,669,938$1,182,362

OASIS RECIPROCAL RISK RETENTION GROUP13644 $3,739,716 $0 $8,252,989$4,513,273

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.12845 $3,181,058 $0 $4,134,423$953,365

OCEAN RRG INC10158 $5,462,075 $0 $10,517,242$5,055,167

OCEANUS INS CO A RRG12189 $52,843,426 $2,398,433 $66,962,233$11,720,374

OLYMPIA RISK RETENTION GROUP, INC.13062 $933,536 $0 $2,103,775$1,170,239

OMS NATL INS CO RRG44121 $296,635,775 $51,099 $353,589,759$56,902,885

OOIDA RISK RETENTION GROUP INC10353 $39,517,366 $0 $57,567,117$18,049,751

OPHTHALMIC MUTUAL INS CO RRG44105 $216,923,268 $0 $229,116,573$12,193,305

ORANGE COUNTY MEDICAL RECIP INS RRG12183 $4,135,984 $0 $5,161,834$1,025,850

ORDINARY MUTUAL A RRG CORP10171 $25,766,220 $0 $28,617,172$2,850,952

PACE RRG INC11575 $6,064,564 $8,019,749 $19,966,935$5,882,622

PARATRANSIT INSURANCE COMPANY, RRG44130 $19,867,747 $0 $21,925,706$2,057,959

PCH MUTUAL INSURANCE COMPANY, RRG11973 $7,769,135 $220,848 $8,890,797$900,814

PEACE CHURCH RRG INC11846 $19,953,205 $0 $21,053,008$1,099,803

PEDIATRICANS INS RRG OF AMER11772 $1,033,806 $0 $1,177,716$143,910

PELICAN INS RRG11587 $15,922,815 $0 $16,145,370$222,555

PHOEBE RECIPROCAL RRG12004 $4,438,405 $0 $4,475,764$37,359

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.13810 $675,409 $0 $708,469$33,060

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 $1,508,264 $0 $2,438,993$930,729

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 $6,303,320 $0 $7,049,597$746,277

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP12918 $3,796,078 $0 $4,479,420$683,342

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 $34,852,283 $0 $47,051,646$12,199,363

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 $39,375,820 $0 $43,071,495$3,695,675

PHYSICIANS REIMBURSEMENT RRG10934 $25,223,245 $0 $25,624,195$400,950

PHYSICIANS RISK RETENTION GROUP LLC13046 $1,499,690 $0 $1,902,960$403,270

PHYSICIANS SPECIALTY LTD RRG11513 $9,432,244 $0 $10,318,571$886,327

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 $5,909,382 $0 $5,948,207$38,825

PINE TREE INS RECIPROCAL RRG12348 $14,076,256 $0 $14,548,965$472,709

PINELANDS INS CO RRG INC12198 $215,927 $0 $3,614,181$3,398,254

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 $6,339,806 $0 $6,563,893$224,087

PINNACLE RRG INC11858 $2,566,073 $0 $2,588,235$22,162

PONCE DE LEON LTC RRG, INC.11809 $14,400,374 $756,933 $16,499,921$1,342,614

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 $23,871,295 $16,627,221 $48,967,905$8,469,389

PREFERRED PHYSICIANS MEDICAL RRG44083 $181,089,425 $0 $186,891,348$5,801,923

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 $8,149,569 $0 $10,776,317$2,626,748

PROAIR RISK RETENTION GROUP, INC.13179 $38,186 $0 $675,871$637,685

PROBUILDERS SPECIALTY INS CO RRG11671 $17,330,613 $95,269,674 $153,804,693$41,204,406

PROFESSIONAL MEDICAL INS RRG INC10840 $324,954 $0 $333,268$8,314

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 $1,986,201 $0 $2,066,333$80,132

PROFESSIONALS RISK RETENTION GROUP, INC.13067 $1,977,476 $0 $3,402,046$1,424,570

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)11350 $4,993,871 $0 $5,095,650$101,779

RED CLAY RISK RETENTION GROUP, INC.13078 $2,833,484 $0 $4,544,531$1,711,047

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 19: Demotech, Inc. Analysis of Risk Retention Groups

COMPANYNAIC Cash and Invested Assets

Net Reinsurance

Risk Retention Groups - AssetsOther Assets Total Assets

RED ROCK RISK RETENTION GROUP, INC.13736 $13,295,648 $0 $13,548,444$252,796

REGIONAL HEALTH INS CO RRG12010 $659,587 $1,297,335 $2,040,297$83,375

RESIDENTIAL INS CO INC A RRG10691 $2,436,577 $0 $2,645,646$209,069

RESTORATION RISK RETENTION GROUP, INC.12209 $38,343,529 $0 $43,360,852$5,017,323

SAINT LUKE'S HLTH SYSTEM RRG11712 $21,710,144 $0 $23,132,359$1,422,215

SAMARITAN RISK RETENTION GROUP, INC.12511 $17,249,339 $0 $19,991,790$2,742,451

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.12524 $455,858 $3,801,060 $5,451,417$1,194,499

SCHUYKILL CROSSING RECIPROCAL RRG11808 $23,094,355 $0 $24,563,203$1,468,848

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 $7,017,293 $0 $7,618,213$600,920

SECURITY AMERICA RRG INC11267 $3,548,303 $406,701 $4,484,471$529,467

SENTINEL ASSUR RRG INC12005 $14,166,562 $0 $16,902,446$2,735,884

SIGMA RRG, INC.13557 $8,029,734 $0 $9,076,023$1,046,289

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 $41,284,912 $0 $45,071,991$3,787,079

SPIRIT MOUNTAIN INS CO RRG INC10754 $5,744,003 $0 $6,435,310$691,307

ST CHARLES INS CO RRG11114 $9,911,640 $0 $10,392,078$480,438

ST LUKES HEALTH NETWORK INS CO RRG11688 $41,855,805 $0 $44,441,749$2,585,944

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.13993 $291,427 $0 $525,280$233,853

STATES SELF-INSURERS RRG44075 $23,298,710 $0 $23,927,013$628,303

STICO MUT INS CO RRG10476 $17,009,564 $293,770 $19,421,769$2,118,435

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 $699,429 $0 $738,948$39,519

SUNLAND RISK RETENTION GROUP, INC.14026 $1,752,729 $0 $2,920,665$1,167,936

SUPERIOR INS CO RRG11669 $9,539,122 $0 $24,752,445$15,213,323

TERRA INS CO RRG10113 $24,303,466 $0 $28,597,905$4,294,439

THE HEALTHCARE UNDERWRITING CO RRG10152 $17,992,398 $0 $63,366,857$45,374,459

TITAN INS CO INC RRG11153 $28,691,200 $0 $29,902,323$1,211,123

TITLE INDUSTRY ASSURANCE CO RRG10084 $5,773,533 $1,166 $7,453,024$1,678,325

UNITED CENTRAL PA RRG11548 $19,244,410 $0 $20,592,041$1,347,631

UNITED CONTRACTORS INS CO INC RRG12280 $20,342,954 $0 $24,369,484$4,026,530

UNITED EDUCATORS INS RRG INC10020 $634,277,839 $0 $675,125,855$40,848,016

UNITED HOME INSURANCE CO A RRG10712 $3,237,556 $0 $4,457,223$1,219,667

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 $1,890,900 $0 $2,332,949$442,049

UV INSURANCE RISK RETENTION GROUP, INC.13988 $532,515 $0 $654,015$121,500

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 $2,513,323 $0 $2,660,851$147,528

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 $1,664,874 $0 $1,891,755$226,881

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 $2,192,441 $299,439 $2,524,870$32,990

WARREN RRG INC11802 $7,272,662 $0 $7,792,532$519,870

WELLSPAN RRG11682 $14,961,648 $0 $23,838,680$8,877,032

WESTERN INS RRG INC11978 $531,738 $0 $559,635$27,897

WESTERN PACIFIC MUT INS CO RRG40940 $126,921,909 $0 $130,303,015$3,381,106

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP13154 $2,627,408 $0 $2,759,613$132,205

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 $15,227,461 $0 $17,583,322$2,355,861

$6,078,315,341 $306,605,451 $7,506,047,033TOTAL - ALL RRGs $1,121,126,241

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 20: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

ALABAMACOASTAL INS RRG INC11668 $2,066,000 $30,978,933 $21,271,197 $115 ($2,819) ($6,446)$21,671,455 $7,241,478 AL

$21,671,455 $2,066,000 $30,978,933 $21,271,197 $115 ($2,819) ($6,446)$7,241,478SUBTOTAL ALABAMA x

ARIZONAADVANCED PHYSICIANS INS RRG INC12166 $82,376 $88,859 $1,303,344 $0 $0 $0$0 $6,483 AZ

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 $5,415,974 $12,651,628 $10,926,083 ($884) ($168) ($849)$6,488,545 $747,109 AZ

AMERICAN ASSOC OF OTHODONTISTS RRG10232 $3,413,423 $25,301,138 $8,138,389 $0 ($3,701) ($4,351)$19,965,154 $1,922,561 AZ

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 $16,756,079 $60,555,573 $23,391,346 $0 ($988) $48$42,589,145 $1,210,349 AZ

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 $1,784,494 $8,593,226 $5,710,618 ($550) ($924) ($1,821)$6,435,151 $373,581 AZ

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 $267,168 $830,391 $2,831,520 $95 ($143) ($205)$532,939 $30,284 AZ

ELITE TRANSPORTATION RRG INC10125 $1,088,170 $11,643,226 $1,882,437 ($8) $71 $21$5,539,908 $5,015,148 AZ

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 $885,592 $2,099,723 $2,037,223 $219 ($233) ($186)$999,971 $214,160 AZ

MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP

12576 $0 $0 $0 AZ

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 $673,378 $8,578,708 $1,468,840 ($189) $308 $110$961,661 $6,943,669 AZ

OLYMPIA RISK RETENTION GROUP, INC.13062 $208,179 $1,522,988 $580,787 $186 ($28) $0$1,226,871 $87,938 AZ

ORANGE COUNTY MEDICAL RECIP INS RRG12183 $289,875 $2,474,659 $2,687,175 $1 ($585) ($809)$2,101,332 $83,452 AZ

PHP RISK RETENTION GROUP, LIMITED12995 $0 $973 $952 AZ

RED ROCK RISK RETENTION GROUP, INC.13736 $590,156 $7,029,217 $6,519,227 ($1,551) $0 $0$6,024,789 $414,272 AZ

RESTORATION RISK RETENTION GROUP, INC.12209 $4,444,314 $29,626,247 $13,734,605 $105 ($1,691) ($2,641)$21,065,828 $4,116,105 AZ

WESTERN INS RRG INC11978 $0 $25,500 $534,135 $0 $0 ($197)$0 $25,500 AZ

$113,931,294 $35,899,178 $171,021,083 $81,745,729 ($2,576) ($7,109) ($9,928)$21,190,611SUBTOTAL ARIZONA x

COLORADONATIONAL HOME INSURANCE CO RRG44016 $23,483,551 $38,108,673 $16,001,568 $519 ($58) $651$5,820,750 $8,804,372 CO

WESTERN PACIFIC MUT INS CO RRG40940 $22,096,829 $48,228,930 $82,074,085 ($289) ($8,590) ($11,122)$25,316,991 $815,110 CO

$31,137,741 $45,580,380 $86,337,603 $98,075,653 $230 ($8,648) ($10,471)$9,619,482SUBTOTAL COLORADO x

DISTRICT OF COLUMBIAAEGIS HEALTHCARE RRG, INC.12252 $393,424 $2,093,300 $1,267,915 $0 ($273) ($373)$1,548,359 $151,517 DC

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 $1,168,717 $8,526,744 $7,690,126 ($983) ($1,808) ($2,623)$5,578,000 $1,780,027 DC

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 $30,172 $78,120 $1,452,098 $0 $40,878 $40,878$12,673 $35,275 DC

CARE RRG, INC.11825 $517,902 $6,883,299 $4,626,423 $1 ($95) ($482)$4,751,774 $1,613,623 DC

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP

12373 $1,224,105 $37,098,796 $31,054,826 ($3) ($600) ($81)$6,909,340 $28,965,351 DC

CMIC RISK RETENTION GROUP13756 $266,010 $433,847 $3,125,286 $0 $40,878 $40,878$7,671 $160,166 DC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 21: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

DUBOIS MEDICAL RRG11842 $982,916 $3,195,643 $3,738,638 ($27) $45 $114$2,193,353 $19,374 DC

FAIRWAY PHYSICIANS INS CO RRG11840 $6,572,955 $25,241,633 $4,934,596 $6,155 ($549) $1,476$14,982,565 $3,686,113 DC

GLOBAL INTL INS CO INC A RRG10991 $0 $613,359 $18,248,553 $0 $0 $0$0 $613,359 DC

HEALTH CARE CAS RRG INC12236 $4,649,016 $45,628,210 $1,624,059 ($273) ($316) ($867)$28,848,461 $12,130,733 DC

HEALTH NETWORK PROVIDERS MUT INS CO11813 $928,732 $5,037,716 $2,548,536 ($158) ($788) ($1,216)$2,999,034 $1,109,950 DC

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 $18,957,677 $142,221,591 $8,501,515 ($1) ($120) $164$106,418,694 $16,845,220 DC

INTERMODAL INSURANCE COMPANY, RRG11824 $1,768,477 $5,584,427 $3,030,692 ($14) ($546) ($920)$3,642,703 $173,247 DC

LIFE SERVICES NETWORK RECIP INS RRG11958 $308,894 $2,245,490 $5,402,764 ($45) ($100) ($134)$1,574,605 $361,991 DC

MEDPRO RRG RISK RETENTION GROUP13589 $8,555,364 $24,436,222 $2,856,765 ($8) ($1) $0$9,737,584 $6,143,274 DC

MEDSTAR LIABILITY LTD INS CO INC RRG10124 $560,159 $4,737,357 $1,060,245 ($539) ($312) ($209)$3,711,881 $465,317 DC

NATIONAL ASSISTED LIVING RRG, INC.11806 $795,837 $4,120,928 $2,743,679 ($835) ($383) ($1,004)$2,850,855 $474,236 DC

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)

10234 $1,533,839 $1,749,009 $7,741,662 $198 ($320) ($531)$20,000 $195,170 DC

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP

13792 $2,607,763 $4,667,921 $5,293,881 $0 $0 $0$113,553 $1,946,605 DC

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG

12275 $2,765,224 $11,140,207 $3,711,998 $856 ($105) ($379)$8,321,392 $53,591 DC

NJ CAR RISK RETENTION GROUP12581 $0 $0 $0 DC

OCEAN RRG INC10158 $1,963,619 $9,939,986 $577,256 $1,426 $1,585 $2,149$7,756,455 $219,912 DC

PCH MUTUAL INSURANCE COMPANY, RRG11973 $1,420,356 $6,428,112 $2,462,685 $0 ($842) $2,180$4,876,573 $131,183 DC

PINELANDS INS CO RRG INC12198 $406,612 $2,842,652 $771,529 $41 $1,040 $1,513$1,716,217 $719,823 DC

PINNACLE RRG INC11858 $0 $193,391 $2,394,844 ($98) ($286) ($630)$94,525 $98,866 DC

PROBUILDERS SPECIALTY INS CO RRG11671 $8,246 $139,001,832 $14,802,861 ($1) $765 ($2,206)$135,053,490 $3,940,096 DC

REGIONAL HEALTH INS CO RRG12010 $0 $1,624,195 $416,102 ($17) $46 $12$1,520,703 $103,492 DC

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.

12524 $424,067 $4,972,900 $478,517 $47 ($148) ($246)$4,219,356 $329,477 DC

SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG

13571 $0 $24 $0 DC

SIGMA RRG, INC.13557 $475,356 $5,203,705 $3,872,317 ($28) ($461) ($1,026)$4,623,214 $105,135 DC

SPIRIT MOUNTAIN INS CO RRG INC10754 $989,527 $3,741,183 $2,694,127 ($1,001) ($1,379) ($1,198)$1,858,368 $893,288 DC

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 $0 $591,974 $1,932,896 $1 $0 $0$580,755 $11,219 DC

$366,522,153 $60,274,966 $510,273,749 $151,057,391 $4,694 $75,829 $75,239$83,476,630SUBTOTAL DISTRICT OF COLUMBIA x

DELAWAREDELAWARE PROFESSIONAL INSURANCE CO43125 $335,071 $6,803,755 $3,280,968 ($82) ($2,472) ($2,497)$6,346,922 $121,762 DE

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 22: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

FEDERAL MOTOR CARRIERS RISK RETENTION GROUP, INC.

12938 $0 ($1,153) $387 DE

INDEMNITY INSURANCE CORPORATION, RRG12018 $10,345,574 $26,093,201 $8,071,905 ($2,839) $916 $2,724$12,442,760 $3,304,867 DE

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP

12554 $680,578 $2,493,591 $1,259,717 $0 ($87) ($502)$1,216,647 $596,366 DE

MARATHON FIN INS CO INC RRG11117 $788,601 $12,955,020 $1,988,128 $211 ($175) ($152)$95,000 $12,071,419 DE

SUNLAND RISK RETENTION GROUP, INC.14026 $97,777 $1,870,949 $1,049,716 $0 $40,878 $40,878$160,334 $1,612,838 DE

UNITED CONTRACTORS INS CO INC RRG12280 $2,185,298 $12,139,785 $12,229,699 $1,380 $6,201 $7,375$9,866,913 $87,574 DE

$30,128,576 $14,432,899 $62,356,301 $27,880,133 ($1,330) $44,108 $48,213$17,794,826SUBTOTAL DELAWARE x

FLORIDAPONCE DE LEON LTC RRG, INC.11809 $2,178,124 $9,136,443 $7,363,478 $0 $1,096 ($613)$5,957,791 $1,000,528 FL

$5,957,791 $2,178,124 $9,136,443 $7,363,478 $0 $1,096 ($613)$1,000,528SUBTOTAL FLORIDA x

GEORGIACHATTAHOCHEE RRG CAPTIVE INS CO11065 $419,259 $3,067,507 $2,192,128 $287 ($436) ($614)$2,555,511 $92,737 GA

JOLIET AREA RRG CAPTIVE INS CO12159 $510,488 $6,167,771 $2,206,621 ($613) ($338) $39$4,532,250 $1,125,033 GA

$7,087,761 $929,747 $9,235,278 $4,398,749 ($326) ($774) ($575)$1,217,770SUBTOTAL GEORGIA x

HAWAIIALLEGIANT INS CO INC A RRG11965 $0 $7,178,164 $4,216,416 $0 $20 $128$5,507,109 $1,671,055 HI

ATTORNEYS INSURANCE MUTUAL RRG INC22670 $2,455,543 $10,933,807 $8,727,067 $13 $372 $381$7,587,634 $890,630 HI

CALIFORNIA HEALTHCARE INS CO INC RRG44504 $7,750,199 $72,179,835 $40,480,512 ($986) ($8,833) ($15,575)$56,655,469 $7,774,167 HI

CLINIC MUTUAL INSURANCE CO RRG43770 $31,182 $140,430 $6,643,277 ($204) ($101) $2$59,003 $50,245 HI

COLLEGE LIABILITY INS CO A RECIP RRG44598 $1,750,905 $4,320,632 $8,161,582 $389 ($55) ($764)$2,534,797 $34,930 HI

CONTRACTORS INS CO OF NORTH AMER RRG11603 $914,295 $14,206,613 $22,176,928 $1,323 ($5,461) ($11,149)$12,972,524 $319,794 HI

FIRST AUTOMOTIVE INS RRG INC10619 $0 $0 $0 HI

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 $0 $0 $1,010,133 $0 $0 $0$0 $0 HI

HEALTH PROVIDERS INS RECIPROCAL RRG10080 $4,466,468 $30,164,539 $44,124,284 $0 ($5,044) ($8,713)$24,960,157 $737,914 HI

MEDAMERICA MUTUAL RRG INC26257 $4,096,861 $44,147,554 $25,496,123 $0 ($3,020) ($4,329)$28,766,083 $11,284,610 HI

NATIONAL GUARDIAN RRG INC36072 $712,392 $11,358,054 $5,115,953 ($600) ($1,718) ($3,888)$9,856,970 $788,692 HI

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP

13582 $776,294 $2,546,026 $3,402,181 ($1,032) ($342) $0$1,700,358 $69,374 HI

PROFESSIONAL MEDICAL INS RRG INC10840 $0 $7,982 $325,286 $0 $0 $0$0 $7,982 HI

RESIDENTIAL INS CO INC A RRG10691 $1,018,471 $1,764,139 $881,507 ($44) $12 ($58)$371,173 $374,495 HI

SENTINEL ASSUR RRG INC12005 $2,079,939 $6,484,178 $10,418,268 ($465) ($3,597) ($4,198)$4,295,242 $108,997 HI

UV INSURANCE RISK RETENTION GROUP, INC.13988 $73,269 $151,229 $502,786 $0 $0 $0$60,291 $17,669 HI

$155,326,810 $26,125,818 $205,583,182 $181,682,303 ($1,606) ($27,767) ($48,163)$24,130,554SUBTOTAL HAWAII x

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 23: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

IOWAAMERICAN FEED INDUSTRY INS CO RRG44202 $0 $2,394,119 $3,507,912 ($551) ($868) ($1,332)$2,255,815 $138,304 IA

$2,255,815 $0 $2,394,119 $3,507,912 ($551) ($868) ($1,332)$138,304SUBTOTAL IOWA x

ILLINOISOMS NATL INS CO RRG44121 $52,450,201 $224,028,284 $129,561,475 $83 ($11,121) ($20,997)$162,250,947 $9,327,136 IL

$162,250,947 $52,450,201 $224,028,284 $129,561,475 $83 ($11,121) ($20,997)$9,327,136SUBTOTAL ILLINOIS x

INDIANAAGRI INSURANCE EXCHANGE RRG28380 $0 $2,175,871 $10,286,302 ($280) ($144) ($302)$1,718,000 $457,871 IN

COMMUNITY BLOOD CENTERS EXCH RRG13893 $2,056,878 $12,010,120 $12,108,885 ($1,250) ($1,579) ($4,554)$6,882,792 $3,070,450 IN

$8,600,792 $2,056,878 $14,185,991 $22,395,187 ($1,530) ($1,723) ($4,856)$3,528,321SUBTOTAL INDIANA x

KENTUCKYARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP

13580 $320,546 $665,875 $1,588,050 $0 $0 $0$112,500 $232,829 KY

DOCTORS & SURGEONS NATIONAL RRG13018 $1,505,831 $4,438,568 $2,129,986 ($40) $357 $199$2,540,635 $392,102 KY

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 $2,911,945 $30,855,073 $18,355,076 $706 ($4,185) ($292)$27,744,735 $198,393 KY

KENTUCKY HOSPITAL INS CO RRG11939 $919,991 $11,594,245 $9,668,826 ($1,180) ($617) ($4,347)$8,265,479 $2,408,775 KY

$38,663,349 $5,658,313 $47,553,761 $31,741,938 ($514) ($4,445) ($4,440)$3,232,099SUBTOTAL KENTUCKY x

MISSOURIPREFERRED PHYSICIANS MEDICAL RRG44083 $5,931,798 $106,284,216 $80,607,132 ($2,001) ($8,067) ($16,075)$74,070,964 $26,281,454 MO

$74,070,964 $5,931,798 $106,284,216 $80,607,132 ($2,001) ($8,067) ($16,075)$26,281,454SUBTOTAL MISSOURI x

MONTANAAMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 $27,524 $440,521 $750,715 ($14) ($29) ($28)$95,171 $317,826 MT

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG

11534 $356,705 $8,870,712 $2,939,397 $943 $371 ($67)$6,671,123 $1,842,884 MT

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC

14005 $95,207 $164,611 $508,731 $0 $40,878 $40,878$12,575 $56,829 MT

ATTORNEYS LIAB PROTECTION SOC RRG32450 $12,694,514 $61,087,589 $31,073,935 ($903) ($5,498) ($6,173)$43,969,074 $4,424,001 MT

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.

13791 $220,705 $686,749 $938,209 $0 $0 $0$116,464 $349,580 MT

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP

13784 $0 $77,958 $600,780 ($6) $0 $0$31,623 $46,335 MT

CROSSFIT RISK RETENTION GROUP, INC.13720 $235,172 $464,444 $651,346 $0 $0 $0$89,879 $139,393 MT

GUARDIAN RRG INC11696 $269,251 $2,178,032 $3,163,998 $0 ($343) ($426)$1,850,736 $58,045 MT

MD RISK RETENTION GROUP, INC.12355 $0 $7,542,792 $5,766,573 ($64) $1,138 $1,762$7,341,609 $201,183 MT

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 $5,345,663 $60,274,881 $32,958,002 $373 ($7,950) ($7,598)$51,848,901 $3,080,317 MT

NATIONAL CONTRACTORS INS CO INC RRG12293 $2,060,644 $14,421,604 $4,138,538 $341 ($467) ($153)$11,521,561 $839,399 MT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 24: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.

12845 $692,377 $3,352,389 $782,034 $143 ($266) ($125)$2,233,507 $426,505 MT

PHYSICIANS RISK RETENTION GROUP LLC13046 $224,356 $1,257,653 $645,307 $248 $208 ($65)$1,012,875 $20,422 MT

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC

12497 $6,897,439 $40,726,525 $8,241,380 $187 $782 $704$15,640,847 $18,188,239 MT

PROFESSIONALS RISK RETENTION GROUP, INC.13067 $840,547 $2,213,401 $1,188,645 $1 ($135) ($25)$467,656 $905,198 MT

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 $504,823 $1,073,450 $818,303 $0 $0 $0$50,715 $517,912 MT

$142,954,316 $30,464,927 $204,833,311 $95,165,893 $1,249 $28,689 $28,684$31,414,068SUBTOTAL MONTANA x

NEBRASKALENDERS PROTECTION ASSUR CO RRG11500 $0 $182,360 $2,386,791 $0 $0 $0$0 $182,360 NE

$0 $0 $182,360 $2,386,791 $0 $0 $0$182,360SUBTOTAL NEBRASKA x

NEVADAAGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP

13606 $112,500 $841,873 $718,788 ($512) ($300) ($43)$680,737 $48,636 NV

ARCOA RISK RETENTION GROUP, INC.13177 $0 $7,230,465 $2,515,308 $971 $1,434 ($223)$6,917,358 $313,107 NV

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 $12,837,602 $14,036,534 $7,625,153 $0 $0 $0$0 $1,198,932 NV

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP

13010 $1,007,608 $1,119,353 $1,077,926 $12 $0 $4$19,307 $92,438 NV

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)

12003 $3,047,735 $11,364,908 $6,022,037 ($240) $929 ($1,167)$7,641,922 $675,251 NV

EMERGENCY PHYSICIANS INS CO RRG11714 $5,875,542 $32,098,128 $7,493,546 $1,061 ($203) $455$23,162,301 $3,060,285 NV

GOLDEN INS CO RRG11145 $2,400,486 $3,010,404 $1,814,663 $129 $781 $560$484,043 $125,875 NV

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 $45,012 $170,469 $565,223 $0 $40,878 $40,878$5,641 $119,816 NV

HOME CONSTRUCTION INS CO RRG11950 $62,941 $4,549,521 $1,828,495 ($375) ($184) ($590)$3,217,232 $1,269,348 NV

J.M. WOODWORTH RRG, INC.12594 $3,799,815 $15,116,690 $4,569,773 $0 $38 $153$8,320,282 $2,996,593 NV

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 $4,287,363 $8,466,213 $2,651,062 $264 $233 ($115)$3,411,826 $767,024 NV

LEWIS & CLARK LTC RRG, INC11947 $3,997,351 $20,601,406 $3,702,641 $1 $1,943 $1,071$12,132,866 $4,471,189 NV

NATIONAL BUILDERS & CONTRACTORS INS12235 $148,238 $3,812,701 $1,664,073 $116 $1,306 $840$3,333,005 $331,458 NV

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 $404,673 $2,278,481 $875,358 ($216) ($696) ($843)$1,806,993 $66,815 NV

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.

13810 $21,266 $632,435 $76,034 $0 $0 $0$23,601 $587,568 NV

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 $215,829 $1,890,791 $548,202 $0 $0 $0$115,477 $1,559,485 NV

PHYSICIANS COMPLIANCE LIABILITY INSURANCE COMPANY, RRG

12350 $0 $0 $0 NV

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 $1,721,028 $5,734,644 $1,314,921 $1,018 ($423) ($631)$3,744,739 $268,877 NV

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 $2,966,349 $8,165,700 $2,610,617 $353 ($1,428) ($398)$3,747,891 $1,451,460 NV

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 25: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

PROAIR RISK RETENTION GROUP, INC.13179 $60,623 $137,027 $538,844 ($48) ($35) ($1)$36,958 $39,446 NV

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP

12988 $1,411,573 $4,649,325 $2,968,888 $316 $180 ($55)$3,174,610 $63,142 NV

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.

13993 $17,446 $10,898 $514,382 $0 $0 $0$0 ($6,548) NV

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP

12915 $405,076 $1,114,605 $1,218,344 $68 ($410) ($151)$636,084 $73,445 NV

$82,612,873 $44,846,056 $147,032,571 $52,914,278 $2,918 $44,043 $39,744$19,573,642SUBTOTAL NEVADA x

OKLAHOMAVEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP

11063 $403,289 $654,596 $2,006,255 $0 $250 $0$250,000 $1,307 OK

$250,000 $403,289 $654,596 $2,006,255 $0 $250 $0$1,307SUBTOTAL OKLAHOMA x

SOUTH CAROLINAALLIED SERVICES RISK RETENTION GROUP12013 $759,863 $3,078,747 $2,511,296 $120 $591 $441$2,160,285 $158,599 SC

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.

12224 $0 $756,103 $1,390,626 ($24) $641 $451$403,581 $352,522 SC

CAREGIVERS UNITED LIAB INS CO RRG11544 $2,461,943 $16,345,943 $16,220,453 $919 ($2,439) ($4,886)$13,787,219 $96,781 SC

CENTRAL PA PHYSICIANS RRG INC11694 $7,635,487 $39,694,057 $18,297,972 $4,962 ($1,728) ($5,856)$31,160,760 $897,810 SC

CLARIAN HLTH RRG INC11992 $0 $10,278,404 $2,391,450 $528 $0 $0$0 $10,278,404 SC

COMMUNITIES OF FAITH RRG INC11807 $379,235 $1,945,696 $11,246,240 ($117) ($54) ($713)$1,392,229 $174,232 SC

CONTINUING CARE RRG, INC.11798 $326,486 $2,108,086 $2,987,136 ($52) $0 ($10)$1,400,704 $380,896 SC

EMERGENCY MEDICINE RRG INC12015 $13,586 $3,602,540 $8,174,805 $2,016 ($19,909) ($16,778)$2,683,761 $905,193 SC

FAITH AFFILIATED RRG INC11698 $651,029 $3,064,144 $4,879,919 $252 $541 $320$2,305,706 $107,409 SC

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 $5,323,531 $16,973,150 $4,282,568 ($183) $1,109 $1,968$10,866,192 $783,427 SC

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.

12512 $212,315 $1,694,501 $996,318 $707 $680 $898$1,388,807 $93,379 SC

GRACO RRG INC11581 $61,806 $906,940 $527,493 $0 $0 $0$0 $845,134 SC

GULF BUILDERS RRG INC11970 $0 ($11) ($3) SC

GUTHRIE RRG12014 $7,022,587 $40,317,632 $13,993,167 $5,696 ($368) ($211)$32,994,351 $300,694 SC

HEALTHCARE PROVIDERS INS CO RRG11683 $4,239,096 $26,083,759 $34,763,220 $41 ($4,698) ($6,862)$18,982,760 $2,861,903 SC

HERITAGE WARRANTY INS RRG INC11097 $629,707 $767,139 $759,071 ($161) ($67) $0$8,150 $129,282 SC

JAMESTOWN INS CO RRG11589 $1,221,540 $4,598,980 $1,356,366 $18 ($434) ($193)$2,945,201 $432,239 SC

LVHN RRG11684 $0 $38,780,077 $5,000,000 $3,992 $0 $0$0 $38,780,077 SC

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 $793,868 $3,255,356 $4,925,674 ($90) ($383) ($490)$1,742,635 $718,853 SC

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.

12529 $0 $2,244,178 $2,942,215 $0 $0 $0$0 $2,244,178 SC

NEW STAR RISK RETENTION GROUP, INC.12532 $847,617 $5,422,640 $3,976,520 $51 $1,567 $137$2,028,642 $2,546,381 SC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 26: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

NOVUS INS CO RRG10752 $2,235,732 $2,155,120 $3,514,818 $3,664 $3,400 $1,480$14,822,136 ($14,902,748) SC

OCEANUS INS CO A RRG12189 $14,800,129 $54,566,643 $12,395,590 $4,830 ($1,072) ($1,073)$32,779,286 $6,987,228 SC

PHOEBE RECIPROCAL RRG12004 $108,863 $1,462,417 $3,013,348 $1 ($329) ($584)$1,326,773 $26,781 SC

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP

12507 $5,383,058 $37,519,962 $9,531,684 $557 ($2,765) ($3,771)$17,929,585 $14,207,319 SC

PHYSICIANS SPECIALTY LTD RRG11513 $0 $4,934,144 $5,384,427 $0 ($459) ($1,533)$3,582,778 $1,351,366 SC

RED CLAY RISK RETENTION GROUP, INC.13078 $417,338 $2,024,298 $2,520,233 $1 ($170) ($164)$1,491,135 $115,825 SC

REPUBLIC RRG12019 $0 ($18) ($85) SC

SAINT LUKE'S HLTH SYSTEM RRG11712 $3,212,297 $9,895,771 $13,236,588 ($24) ($1,168) ($1,838)$4,622,454 $2,061,020 SC

SAMARITAN RISK RETENTION GROUP, INC.12511 $3,635,173 $10,359,525 $9,632,264 ($1,804) ($1,875) ($1,237)$6,088,681 $635,671 SC

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 $2,943,038 $36,711,815 $8,360,176 $1,889 $3,388 $2,146$25,175,771 $8,593,006 SC

ST CHARLES INS CO RRG11114 $9,689 $5,453,763 $4,938,315 ($6,792) $0 $0$4,792,153 $651,921 SC

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC

13135 $0 $163,485 $575,463 $0 $0 $0$0 $163,485 SC

SUPERIOR INS CO RRG11669 $4,314,776 $19,714,522 $5,037,923 $247 $1,951 $1,838$10,978,679 $4,421,067 SC

TITAN INS CO INC RRG11153 $5,154,007 $5,979,772 $23,922,551 $0 $0 $0$0 $825,765 SC

$249,840,414 $74,793,796 $412,859,309 $243,685,889 $21,244 ($24,079) ($36,608)$88,225,099SUBTOTAL SOUTH CAROLINA x

TENNESSEEPARATRANSIT INSURANCE COMPANY, RRG44130 $1,329,064 $13,370,912 $8,554,794 $0 ($1,437) ($2,628)$11,223,185 $818,663 TN

$11,223,185 $1,329,064 $13,370,912 $8,554,794 $0 ($1,437) ($2,628)$818,663SUBTOTAL TENNESSEE x

TEXASAMERICAN CONTRACTORS INS CO RRG12300 $0 $12,858,008 $6,629,838 $0 $0 $0$0 $12,858,008 TX

$0 $0 $12,858,008 $6,629,838 $0 $0 $0$12,858,008SUBTOTAL TEXAS x

UTAHLIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY

12627 $2,683,342 $5,435,254 $945,136 $537 $157 $717$2,651,136 $100,776 UT

$2,651,136 $2,683,342 $5,435,254 $945,136 $537 $157 $717$100,776SUBTOTAL UTAH x

VIRGINIAHOW INSURANCE COMPANY, A RISK RETENTION GROUP

41246 $0 $12,564,610 $110,880,407 ($2,026) $21,133 $38,496$930,837 $11,633,773 VA

$930,837 $0 $12,564,610 $110,880,407 ($2,026) $21,133 $38,496$11,633,773SUBTOTAL VIRGINIA x

VERMONTACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 $210,834 $1,829,778 $2,169,257 $0 $0 $0$115,695 $1,503,249 VT

ACBG RISK RETENTION GROUP, LLC12557 $369,770 $2,336,401 $1,044,556 $0 ($202) ($254)$1,759,048 $207,583 VT

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP

13677 $114,939 $1,346,258 $2,943,627 $0 $0 $0$435,667 $795,652 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 27: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

ALLIANCE OF NONPROFITS FOR INS RRG10023 $6,905,283 $27,196,478 $25,660,500 ($168) ($1,244) ($4,258)$17,423,829 $2,867,366 VT

AMERICAN EXCESS INS EXCHANGE RRG10903 $18,039,613 $196,904,487 $202,877,707 ($20,745) ($29,457) ($46,367)$160,428,176 $18,436,698 VT

AMERICAN SAFETY RRG INC25448 $545,402 $9,369,157 $5,688,397 $0 $1,348 $1,796$5,991,501 $2,832,254 VT

AMERIGUARD RRG INC12171 $21,426 $6,085,300 $5,953,359 ($483) ($1,911) ($1,981)$4,836,988 $1,226,886 VT

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 $5,858,221 $76,875,684 $55,135,200 ($1,155) ($992) $166$48,356,909 $22,660,554 VT

BAR VERMONT RISK RETENTION GROUP INC10174 $0 $6,273,587 $12,408,644 ($943) ($714) ($975)$4,128,595 $2,144,992 VT

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 $1,260,806 $20,282,252 $3,673,944 ($466) ($29) $120$13,250,994 $5,770,452 VT

BROADLINE RISK RETENTION GROUP, INC.13788 $13,282,832 $65,209,949 $18,420,555 ($399) $0 $0$50,593,701 $1,333,416 VT

CASSATT RISK RETENTION GROUP INC10808 $75,000 $2,993,125 $3,678,638 ($12) ($434) ($191)$466,661 $2,451,464 VT

CHC CAS RRG11531 $2,233,360 $27,080,190 $9,053,981 ($955) ($2,802) $2,078$24,157,756 $689,074 VT

CIMARRON INSURANCE EXCHANGE RRG12308 $387,434 $4,775,174 $2,020,920 $593 $69 $35$3,618,633 $769,107 VT

CIRCLE STAR INS CO RRG11839 $86,510 $2,018,908 $1,469,709 $0 $0 $0$199,346 $1,733,052 VT

CLAIM PROFESSIONALS LIAB INS CO RRG12172 $181,109 $1,308,684 $1,382,772 $376 ($23) $199$700,492 $427,083 VT

COLLEGE RISK RETENTION GROUP, INC.13613 $4,319,846 $15,380,874 $3,588,185 $404 ($164) $0$4,995,154 $6,065,874 VT

COLUMBIA NATIONAL RRG INC10803 $466,440 $686,243 $1,093,570 $0 $0 $0$0 $219,803 VT

COMCARE PRO INS RECIPROCAL RRG11864 $933,921 $1,951,502 $2,411,149 $340 ($170) ($68)$832,559 $185,022 VT

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 $4,155,296 $106,634,455 $12,552,687 $1,010 $17,393 $19,524$55,663,306 $46,815,853 VT

COMMUNITY HOSPITAL RRG11259 $7,653,694 $125,369,434 $61,518,432 $564 ($5,330) ($8,507)$110,138,441 $7,577,299 VT

CONSORTIUM RRG11528 $0 $1,295,503 $7,710,554 ($11) ($829) ($1,655)$1,270,287 $25,216 VT

CONSUMER SPECIALTIES INS CO RRG10075 $258,908 $2,622,195 $3,376,608 ($16) ($410) ($256)$1,980,276 $383,011 VT

CONTROLLED RISK INS CO OF VT RRG10341 $4,150,084 $27,959,821 $28,261,965 $0 ($1,191) ($1,405)$20,123,236 $3,686,501 VT

CPA MUTUAL INS CO OF AMERICA RRG10164 $1,749,575 $13,318,815 $9,643,236 $158 ($785) ($1,194)$10,267,434 $1,301,806 VT

CRUDEN BAY RRG INC11676 $781,370 $9,697,017 $1,870,206 $279 ($1,712) ($2,513)$8,527,791 $387,856 VT

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 $1,177,794 $4,445,778 $1,947,913 ($36) $0 $0$1,680,781 $1,587,203 VT

EASTERN DENTISTS INS CO RRG10115 $5,475,785 $29,802,812 $14,971,887 ($3,534) ($3,388) ($4,770)$19,851,000 $4,476,027 VT

EVERGREEN USA RRG INC38466 $1,887,038 $9,874,592 $5,484,780 $98 $1,209 $60$7,290,531 $697,023 VT

FIRST MEDICAL INS CO RRG11278 $8,846,607 $55,761,196 $55,963,834 $17 ($8,099) ($13,745)$46,005,202 $909,387 VT

FRANKLIN CASUALTY INS CO RRG10842 $2,484,753 $38,857,411 $2,245,980 ($41) ($458) ($633)$6,011,853 $30,360,805 VT

FREDERICKSBURG PROFESSIONAL RISK EXC12016 $552,145 $8,588,306 $18,145,814 ($262) ($1,450) ($2,109)$7,956,225 $79,936 VT

GEISINGER INS CORP RRG12000 $730,651 $7,368,103 $11,090,327 $0 $0 $0$500,000 $6,137,452 VT

GENERAL EASTERN SKI INS RRG INC10163 $0 $872,001 $2,053,799 $0 $42 $714$586,644 $285,357 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 28: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

GLOBAL HAWK INSURANCE COMPANY RRG11948 $2,833,489 $5,390,539 $3,569,090 $118 ($431) ($465)$2,443,126 $113,924 VT

GREEN HILLS INS CO RRG11941 $3,307,540 $11,744,246 $11,188,787 ($126) ($1,992) ($1,773)$7,229,720 $1,206,986 VT

HAMDEN ASSURANCE RRG, INC.13057 $0 $67,642,149 $1,470,916 $0 $0 $0$0 $67,642,149 VT

HEARTLAND HEALTHCARE RECIP RRG11998 $808,231 $6,927,691 $7,340,044 ($50) ($999) ($1,340)$5,947,043 $172,417 VT

HOUSING AUTHORITY RRG INC26797 $15,740,396 $133,670,213 $172,750,930 ($19,391) ($27,172) ($62,100)$108,868,617 $9,061,200 VT

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP

11268 $11,733,868 $79,715,287 $211,771,721 ($8,712) ($21,845) ($39,565)$56,188,530 $11,792,889 VT

INDIANA HEALTHCARE RECIP RRG11692 $1,376,165 $18,390,181 $7,930,927 ($39) ($896) ($1,772)$14,582,611 $2,431,405 VT

LAKE STREET RRG INC11803 $72,314 $973,723 $1,709,863 $10 ($544) ($516)$668,072 $233,337 VT

MCIC VERMONT INC RRG10697 $0 ($1) ($3) VT

MENTAL HEALTH RISK RETENTION GROUP44237 $2,329,494 $14,299,154 $9,950,158 ($1,580) ($2,550) ($4,935)$10,394,647 $1,575,013 VT

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP

11999 $694,935 $7,918,742 $1,481,448 $332 ($1,554) ($1,772)$4,334,378 $2,889,429 VT

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 $229,508 $558,499 $1,010,629 ($249) $0 $0$270,833 $58,158 VT

MOUNTAIN LAUREL RRG INC11547 $3,737,199 $13,996,235 $2,095,314 $370 ($748) ($673)$9,216,592 $1,042,444 VT

NATIONAL CATHOLIC RRG10083 $5,890,910 $48,261,549 $15,173,149 $2,705 $266 ($812)$39,192,593 $3,178,046 VT

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP

13059 $938,539 $6,013,398 $1,652,964 ($1) $668 ($28)$3,763,283 $1,311,576 VT

OASIS RECIPROCAL RISK RETENTION GROUP13644 $1,880,033 $6,556,895 $1,696,094 $0 ($93) $0$2,734,329 $1,942,533 VT

OOIDA RISK RETENTION GROUP INC10353 $4,316,090 $36,470,090 $21,097,026 ($1,719) ($5,040) ($9,546)$14,766,238 $17,387,762 VT

OPHTHALMIC MUTUAL INS CO RRG44105 $23,906,766 $91,351,656 $137,764,917 $0 ($2,606) ($14,806)$58,013,926 $9,430,964 VT

ORDINARY MUTUAL A RRG CORP10171 $948,737 $18,970,488 $9,646,684 $1,381 ($1,855) ($2,991)$16,998,213 $1,023,538 VT

PACE RRG INC11575 $139,147 $18,407,613 $1,559,322 $27 $1,942 $5,150$10,144,859 $8,123,607 VT

PEACE CHURCH RRG INC11846 $757,366 $7,818,385 $13,234,621 ($1,275) ($1,676) ($3,683)$6,469,673 $591,346 VT

PELICAN INS RRG11587 $1,163,268 $4,995,452 $11,149,918 ($736) ($1,443) ($514)$2,945,894 $886,290 VT

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP

12918 $615,766 $3,253,678 $1,225,742 ($8) ($287) ($423)$2,530,882 $107,030 VT

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 $7,337,849 $25,950,782 $17,120,712 ($3,414) ($3,949) ($7,760)$16,902,395 $1,710,538 VT

PHYSICIANS REIMBURSEMENT RRG10934 $754,454 $15,814,169 $9,810,026 ($1,016) ($1,816) ($2,856)$14,967,745 $91,970 VT

PINE TREE INS RECIPROCAL RRG12348 $690,037 $9,310,489 $5,238,476 $224 $895 $2,551$6,646,126 $1,974,326 VT

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 $733,284 $2,630,301 $3,933,592 ($19) $166 $29$1,742,253 $154,764 VT

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 $21,036 $832,128 $1,234,205 $9 ($4) ($21)$69,295 $741,797 VT

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)

11350 $227,464 $1,524,806 $3,570,844 $1 $23 ($549)$1,270,531 $26,811 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 29: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

SCHUYKILL CROSSING RECIPROCAL RRG11808 $709,620 $19,571,723 $4,991,480 $157 ($405) $44$17,032,981 $1,829,122 VT

SECURITY AMERICA RRG INC11267 $703,955 $1,851,440 $2,633,031 $151 $87 ($459)$697,981 $449,504 VT

ST LUKES HEALTH NETWORK INS CO RRG11688 $1,532,196 $32,937,757 $11,503,992 ($1,059) ($1,872) ($1,437)$31,335,378 $70,183 VT

STATES SELF-INSURERS RRG44075 $970,560 $15,336,272 $8,590,740 $0 $0 ($1,246)$9,673,144 $4,692,568 VT

STICO MUT INS CO RRG10476 $5,288,907 $9,257,334 $10,164,435 ($411) ($386) ($620)$3,766,230 $202,197 VT

TERRA INS CO RRG10113 $1,633,306 $10,923,879 $17,674,026 $735 $2,487 $3,240$5,500,458 $3,790,115 VT

THE HEALTHCARE UNDERWRITING CO RRG10152 $5,616,012 $35,785,126 $27,581,731 $3,193 ($298) ($1,835)$29,800,972 $368,142 VT

TITLE INDUSTRY ASSURANCE CO RRG10084 $361,037 $5,621,453 $1,831,570 $73 $52 ($499)$4,273,382 $987,034 VT

UNITED CENTRAL PA RRG11548 $966,570 $6,153,037 $14,439,004 $105 ($1,145) ($943)$5,022,390 $164,077 VT

UNITED EDUCATORS INS RRG INC10020 $59,053,869 $438,349,976 $236,775,879 $13,068 $1,490 $891$327,089,663 $52,206,444 VT

UNITED HOME INSURANCE CO A RRG10712 $2,716,342 $2,896,840 $1,560,383 $0 $0 $0$0 $180,498 VT

WARREN RRG INC11802 $498,052 $5,120,315 $2,672,217 $349 ($857) ($2,885)$4,520,820 $101,443 VT

WELLSPAN RRG11682 $1,569,500 $17,707,106 $6,131,574 $0 ($2,540) ($3,237)$16,033,734 $103,872 VT

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP

13154 $159,447 $475,101 $2,284,512 $0 $0 $0$269,849 $45,805 VT

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)

11796 $1,022,536 $13,431,583 $4,151,739 ($244) ($904) ($1,605)$6,420,002 $5,989,045 VT

$1,520,884,099 $271,182,240 $2,187,178,950 $1,637,877,124 ($42,428) ($119,565) ($227,953)$395,112,611SUBTOTAL VERMONT x

WEST VIRGINIAMOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.

12779 $1,619,465 $16,911,602 $8,779,829 ($2,015) ($1,811) ($1,846)$14,226,477 $1,065,660 WV

$14,226,477 $1,619,465 $16,911,602 $8,779,829 ($2,015) ($1,811) ($1,846)$1,065,660SUBTOTAL WEST VIRGINIA x

$3,043,178,785 $680,906,481 $4,493,250,426 $3,011,114,511 ($25,833) ($4,928) ($161,838)TOTAL - ALL RRGs $769,165,160

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 30: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 24.78 0.05 0.84 0.52

ACBG RISK RETENTION GROUP, LLC12557 1.22 1.68 2.24 1.31

ADVANCED PHYSICIANS INS RRG INC12166 0.00 0.00 0.07 0.25

AEGIS HEALTHCARE RRG, INC.12252 1.15 1.22 1.65 0.73

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 8.47 0.15 0.46 0.15

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 1.52 0.95 1.17 0.63

AGRI INSURANCE EXCHANGE RRG28380 7.22 0.17 0.21 0.08

ALLEGIANT INS CO INC A RRG11965 1.70 1.31 1.70 0.21

ALLIANCE OF NONPROFITS FOR INS RRG10023 2.48 0.68 1.06 0.40

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 3.31 0.59 1.16 0.66

ALLIED SERVICES RISK RETENTION GROUP12013 2.57 0.86 1.23 0.40

AMERICAN ASSOC OF OTHODONTISTS RRG10232 1.59 2.45 3.11 0.63

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 0.92 0.13 0.59 0.06

AMERICAN CONTRACTORS INS CO RRG12300 0.00 0.00 1.94 0.00

AMERICAN EXCESS INS EXCHANGE RRG10903 2.47 0.79 0.97 0.13

AMERICAN FEED INDUSTRY INS CO RRG44202 2.54 0.64 0.68 0.00

AMERICAN SAFETY RRG INC25448 1.59 1.05 1.65 0.21

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG11534 1.54 2.27 3.02 -0.26

AMERIGUARD RRG INC12171 2.35 0.81 1.02 0.21

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 1.47 1.82 2.59 1.06

ARCOA RISK RETENTION GROUP, INC.13177 1.24 2.75 2.87 1.74

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP13580 9.83 0.07 0.42 0.37

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC14005 43.50 0.02 0.32 0.18

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 5.27 0.29 0.54 0.03

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 2.67 0.73 1.11 0.27

ATTORNEYS INSURANCE MUTUAL RRG INC22670 2.41 0.87 1.25 0.38

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 1.74 0.88 1.39 0.42

ATTORNEYS LIAB PROTECTION SOC RRG32450 1.87 1.41 1.97 0.67

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 113.73 0.01 0.05 0.00

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 0.00 0.00 1.84 0.47

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 11.73 0.12 0.73 0.01

BAR VERMONT RISK RETENTION GROUP INC10174 4.03 0.33 0.51 0.01

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 1.32 3.61 5.52 1.35

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 90.93 0.02 1.04 0.46

BROADLINE RISK RETENTION GROUP, INC.13788 1.09 2.75 3.54 0.96

CALIFORNIA HEALTHCARE INS CO INC RRG44504 1.69 1.40 1.78 0.34

CARE RRG, INC.11825 1.95 1.03 1.49 0.16

CAREGIVERS UNITED LIAB INS CO RRG11544 2.11 0.85 1.01 0.34

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 5.90 0.22 1.19 0.15

CASSATT RISK RETENTION GROUP INC10808 10.29 0.13 0.81 0.03

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP13784 20.36 0.05 0.13 0.26

CENTRAL PA PHYSICIANS RRG INC11694 1.78 1.70 2.17 1.05

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 1.72 1.13 1.50 0.48

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 6.68 0.19 0.29 0.32

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 31: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios

CHATTAHOCHEE RRG CAPTIVE INS CO11065 1.96 1.17 1.40 0.75

CHC CAS RRG11531 1.38 2.67 2.99 1.00

CIMARRON INSURANCE EXCHANGE RRG12308 1.12 1.79 2.36 0.75

CIRCLE STAR INS CO RRG11839 9.22 0.14 1.37 0.20

CLAIM PROFESSIONALS LIAB INS CO RRG12172 2.26 0.51 0.95 0.53

CLARIAN HLTH RRG INC11992 0.00 0.00 4.30 0.00

CLINIC MUTUAL INSURANCE CO RRG43770 109.15 0.01 0.02 0.01

CMIC RISK RETENTION GROUP13756 426.26 0.00 0.14 0.04

COASTAL INS RRG INC11668 2.22 1.02 1.46 0.28

COLLEGE LIABILITY INS CO A RECIP RRG44598 4.10 0.31 0.53 0.29

COLLEGE RISK RETENTION GROUP, INC.13613 1.86 1.39 4.29 1.45

COLUMBIA NATIONAL RRG INC10803 0.00 0.00 0.63 0.07

COMCARE PRO INS RECIPROCAL RRG11864 4.17 0.35 0.81 0.65

COMMUNITIES OF FAITH RRG INC11807 9.11 0.12 0.17 0.13

COMMUNITY BLOOD CENTERS EXCH RRG13893 3.20 0.57 0.99 0.20

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 2.03 4.43 8.49 1.32

COMMUNITY HOSPITAL RRG11259 1.59 1.79 2.04 0.50

CONSORTIUM RRG11528 6.98 0.16 0.17 0.00

CONSUMER SPECIALTIES INS CO RRG10075 2.74 0.59 0.78 0.11

CONTINUING CARE RRG, INC.11798 2.07 0.47 0.71 1.26

CONTRACTORS INS CO OF NORTH AMER RRG11603 2.70 0.58 0.64 0.06

CONTROLLED RISK INS CO OF VT RRG10341 2.72 0.71 0.99 0.59

CPA MUTUAL INS CO OF AMERICA RRG10164 1.78 1.06 1.38 0.31

CROSSFIT RISK RETENTION GROUP, INC.13720 8.54 0.14 0.71 0.88

CRUDEN BAY RRG INC11676 1.25 4.56 5.18 1.66

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 2.39 0.86 2.28 1.41

DELAWARE PROFESSIONAL INSURANCE CO43125 1.54 1.93 2.07 0.01

DOCTORS & SURGEONS NATIONAL RRG13018 2.07 1.19 2.08 1.68

DUBOIS MEDICAL RRG11842 3.14 0.59 0.85 0.28

EASTERN DENTISTS INS CO RRG10115 1.98 1.33 1.99 0.41

ELITE TRANSPORTATION RRG INC10125 1.96 2.94 6.19 1.98

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)12003 1.53 1.27 1.89 0.90

EMERGENCY MEDICINE RRG INC12015 3.47 0.33 0.44 0.00

EMERGENCY PHYSICIANS INS CO RRG11714 1.49 3.09 4.28 1.26

EVERGREEN USA RRG INC38466 1.50 1.33 1.80 0.53

FAIRWAY PHYSICIANS INS CO RRG11840 0.93 3.04 5.12 1.85

FAITH AFFILIATED RRG INC11698 3.25 0.47 0.63 0.18

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 1.04 2.54 3.96 1.78

FIRST MEDICAL INS CO RRG11278 2.15 0.82 1.00 0.21

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 3.82 0.49 1.03 0.67

FRANKLIN CASUALTY INS CO RRG10842 0.21 2.68 17.30 1.48

FREDERICKSBURG PROFESSIONAL RISK EXC12016 2.59 0.44 0.47 0.13

GEISINGER INS CORP RRG12000 4.80 0.05 0.66 0.09

GENERAL EASTERN SKI INS RRG INC10163 2.04 0.29 0.42 0.00

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 32: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 0.00 0.00 0.00 0.00

GLOBAL HAWK INSURANCE COMPANY RRG11948 2.89 0.68 1.51 0.99

GLOBAL INTL INS CO INC A RRG10991 0.00 0.00 0.03 0.03

GOLDEN INS CO RRG11145 7.10 0.27 1.66 0.42

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 1.75 1.39 1.70 0.81

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.13973 118.81 0.01 0.30 0.14

GRACO RRG INC11581 0.00 0.00 1.72 0.24

GREEN HILLS INS CO RRG11941 2.65 0.65 1.05 0.39

GUARDIAN RRG INC11696 2.40 0.58 0.69 0.34

GUTHRIE RRG12014 1.41 2.36 2.88 0.67

HAMDEN ASSURANCE RRG, INC.13057 0.00 0.00 45.99 0.00

HEALTH CARE CAS RRG INC12236 0.56 17.76 28.10 1.22

HEALTH NETWORK PROVIDERS MUT INS CO11813 2.22 1.18 1.98 0.62

HEALTH PROVIDERS INS RECIPROCAL RRG10080 2.79 0.57 0.68 0.26

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 0.17 12.52 16.73 0.30

HEALTHCARE PROVIDERS INS CO RRG11683 3.09 0.55 0.75 0.14

HEARTLAND HEALTHCARE RECIP RRG11998 2.28 0.81 0.94 0.44

HERITAGE WARRANTY INS RRG INC11097 94.01 0.01 1.01 0.00

HOME CONSTRUCTION INS CO RRG11950 1.75 1.76 2.49 -0.06

HOUSING AUTHORITY RRG INC26797 2.70 0.63 0.77 0.16

HOW INSURANCE COMPANY, A RISK RETENTION GROUP41246 130.22 0.01 0.11 0.00

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 4.73 0.27 0.38 0.10

INDEMNITY INSURANCE CORPORATION, RRG12018 0.44 1.54 3.23 1.52

INDIANA HEALTHCARE RECIP RRG11692 1.74 1.84 2.32 0.69

INTERMODAL INSURANCE COMPANY, RRG11824 0.19 1.20 1.84 0.81

J.M. WOODWORTH RRG, INC.12594 1.17 1.82 3.31 1.34

JAMESTOWN INS CO RRG11589 1.05 2.17 3.39 0.95

JOLIET AREA RRG CAPTIVE INS CO12159 1.73 2.05 2.80 0.91

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 1.61 1.51 1.68 0.40

KENTUCKY HOSPITAL INS CO RRG11939 2.38 0.85 1.20 0.17

LAKE STREET RRG INC11803 3.90 0.39 0.57 0.17

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 2.18 1.29 3.19 1.91

LENDERS PROTECTION ASSUR CO RRG11500 0.00 0.00 0.08 0.00

LEWIS & CLARK LTC RRG, INC11947 1.03 3.28 5.56 1.72

LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY12627 1.34 2.81 5.75 4.33

LIFE SERVICES NETWORK RECIP INS RRG11958 4.67 0.29 0.42 0.28

LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP14084 0.00 0.00 0.00 0.00

LVHN RRG11684 0.00 0.00 7.76 1.82

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 1.80 0.97 1.98 0.80

MARATHON FIN INS CO INC RRG11117 37.00 0.05 6.52 4.82

MD RISK RETENTION GROUP, INC.12355 1.68 1.27 1.31 0.48

MEDAMERICA MUTUAL RRG INC26257 2.21 1.13 1.73 0.64

MEDPRO RRG RISK RETENTION GROUP13589 0.52 3.41 8.55 0.17

MEDSTAR LIABILITY LTD INS CO INC RRG10124 1.00 3.50 4.47 1.02

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 33: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios

MENTAL HEALTH RISK RETENTION GROUP44237 2.14 1.04 1.44 0.41

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 1.31 2.93 5.35 0.90

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 8.29 0.65 5.84 0.34

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 1.02 0.27 0.55 0.02

MOUNTAIN LAUREL RRG INC11547 1.46 4.40 6.68 2.39

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 1.77 1.57 1.83 0.65

MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.12779 1.66 1.62 1.93 0.73

NATIONAL ASSISTED LIVING RRG, INC.11806 2.25 1.04 1.50 0.47

NATIONAL BUILDERS & CONTRACTORS INS12235 1.35 2.00 2.29 0.23

NATIONAL CATHOLIC RRG10083 1.32 2.58 3.18 0.52

NATIONAL CONTRACTORS INS CO INC RRG12293 0.55 2.78 3.48 0.22

NATIONAL GUARDIAN RRG INC36072 1.20 1.93 2.22 0.47

NATIONAL HOME INSURANCE CO RRG44016 8.61 0.36 2.38 0.00

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 2.65 0.35 0.66 0.14

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 0.00 0.00 0.76 0.00

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 462.12 0.00 0.23 0.04

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 1.59 2.06 2.60 0.43

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP13792 69.48 0.02 0.88 0.28

NEW STAR RISK RETENTION GROUP, INC.12532 3.86 0.51 1.36 0.25

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 1.12 2.24 3.00 1.24

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP13059 1.96 2.28 3.64 1.44

NOVUS INS CO RRG10752 0.28 4.22 0.61 0.74

OASIS RECIPROCAL RISK RETENTION GROUP13644 1.37 1.61 3.87 1.03

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.12845 1.42 2.86 4.29 1.40

OCEAN RRG INC10158 0.70 13.44 17.22 5.25

OCEANUS INS CO A RRG12189 1.61 2.64 4.40 1.61

OLYMPIA RISK RETENTION GROUP, INC.13062 0.76 2.11 2.62 1.43

OMS NATL INS CO RRG44121 1.83 1.25 1.73 0.51

OOIDA RISK RETENTION GROUP INC10353 2.68 0.70 1.73 0.28

OPHTHALMIC MUTUAL INS CO RRG44105 3.74 0.42 0.66 0.20

ORANGE COUNTY MEDICAL RECIP INS RRG12183 1.97 0.78 0.92 0.43

ORDINARY MUTUAL A RRG CORP10171 1.52 1.76 1.97 0.30

PACE RRG INC11575 0.60 6.51 11.80 0.13

PARATRANSIT INSURANCE COMPANY, RRG44130 1.77 1.31 1.56 0.24

PCH MUTUAL INSURANCE COMPANY, RRG11973 1.59 1.98 2.61 0.80

PEACE CHURCH RRG INC11846 3.08 0.49 0.59 0.23

PEDIATRICANS INS RRG OF AMER11772 1.78 1.02 1.08 -0.04

PELICAN INS RRG11587 5.41 0.26 0.45 0.31

PHOEBE RECIPROCAL RRG12004 3.35 0.44 0.49 0.14

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.13810 28.62 0.31 8.32 -4.09

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 13.06 0.21 3.45 0.81

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 1.68 2.85 4.36 2.32

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP12918 1.50 2.06 2.65 0.55

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 1.94 1.88 3.94 0.62

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 34: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 2.33 0.99 1.52 0.30

PHYSICIANS REIMBURSEMENT RRG10934 1.69 1.53 1.61 0.31

PHYSICIANS RISK RETENTION GROUP LLC13046 1.48 1.57 1.95 1.11

PHYSICIANS SPECIALTY LTD RRG11513 2.63 0.67 0.92 0.20

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 3.48 0.50 0.75 0.82

PINE TREE INS RECIPROCAL RRG12348 2.12 1.27 1.78 0.53

PINELANDS INS CO RRG INC12198 0.13 2.22 3.68 0.72

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 3.64 0.44 0.67 0.25

PINNACLE RRG INC11858 27.15 0.04 0.08 0.02

PONCE DE LEON LTC RRG, INC.11809 2.42 0.81 1.24 0.39

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 1.53 1.90 4.94 0.15

PREFERRED PHYSICIANS MEDICAL RRG44083 2.44 0.92 1.32 0.28

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 2.17 1.44 3.13 1.85

PROAIR RISK RETENTION GROUP, INC.13179 1.03 0.07 0.25 0.23

PROBUILDERS SPECIALTY INS CO RRG11671 0.13 9.12 9.39 0.01

PROFESSIONAL MEDICAL INS RRG INC10840 0.00 0.00 0.02 0.00

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 28.66 0.06 0.67 0.02

PROFESSIONALS RISK RETENTION GROUP, INC.13067 4.23 0.39 1.86 0.24

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)11350 3.93 0.36 0.43 0.25

RED CLAY RISK RETENTION GROUP, INC.13078 1.90 0.59 0.80 0.66

RED ROCK RISK RETENTION GROUP, INC.13736 2.21 0.92 1.08 0.34

REGIONAL HEALTH INS CO RRG12010 0.43 3.65 3.90 0.00

RESIDENTIAL INS CO INC A RRG10691 6.56 0.42 2.00 0.00

RESTORATION RISK RETENTION GROUP, INC.12209 1.82 1.53 2.16 0.67

SAINT LUKE'S HLTH SYSTEM RRG11712 4.70 0.35 0.75 0.31

SAMARITAN RISK RETENTION GROUP, INC.12511 2.83 0.63 1.08 0.62

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.12524 0.11 8.82 10.39 0.21

SCHUYKILL CROSSING RECIPROCAL RRG11808 1.36 3.41 3.92 -0.06

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 2.21 1.07 1.57 1.13

SECURITY AMERICA RRG INC11267 5.08 0.27 0.70 0.48

SENTINEL ASSUR RRG INC12005 3.30 0.41 0.62 0.37

SIGMA RRG, INC.13557 1.74 1.19 1.34 0.00

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 1.64 3.01 4.39 1.41

SPIRIT MOUNTAIN INS CO RRG INC10754 3.09 0.69 1.39 0.69

ST CHARLES INS CO RRG11114 2.07 0.97 1.10 0.11

ST LUKES HEALTH NETWORK INS CO RRG11688 1.34 2.72 2.86 0.15

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.13993 0.00 0.00 0.02 0.08

STATES SELF-INSURERS RRG44075 2.41 1.13 1.79 0.16

STICO MUT INS CO RRG10476 4.52 0.37 0.91 0.21

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 0.00 0.00 0.28 0.00

SUNLAND RISK RETENTION GROUP, INC.14026 10.93 0.15 1.78 0.36

SUPERIOR INS CO RRG11669 0.87 2.18 3.91 1.38

TERRA INS CO RRG10113 4.42 0.31 0.62 0.36

THE HEALTHCARE UNDERWRITING CO RRG10152 0.60 1.08 1.30 0.32

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 35: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios

TITAN INS CO INC RRG11153 0.00 0.00 0.25 0.09

TITLE INDUSTRY ASSURANCE CO RRG10084 1.35 2.33 3.07 0.31

UNITED CENTRAL PA RRG11548 3.83 0.35 0.43 0.27

UNITED CONTRACTORS INS CO INC RRG12280 2.06 0.81 0.99 0.27

UNITED EDUCATORS INS RRG INC10020 1.94 1.38 1.85 0.33

UNITED HOME INSURANCE CO A RRG10712 0.00 0.00 1.86 0.00

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 2.97 0.52 0.91 0.35

UV INSURANCE RISK RETENTION GROUP, INC.13988 8.83 0.12 0.30 0.53

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 10.05 0.12 0.33 0.05

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 32.83 0.06 1.31 0.49

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 3.78 0.30 0.31 0.00

WARREN RRG INC11802 1.61 1.69 1.92 0.43

WELLSPAN RRG11682 0.93 2.61 2.89 1.02

WESTERN INS RRG INC11978 0.00 0.00 0.05 0.03

WESTERN PACIFIC MUT INS CO RRG40940 5.01 0.31 0.59 0.03

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP13154 9.74 0.12 0.21 0.17

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 2.37 1.55 3.24 0.95

2.00TOTAL - ALL RRGs 1.01 1.49 0.34

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 36: Demotech, Inc. Analysis of Risk Retention Groups

®

By StateRisk Retention Groups

Douglas Powell
Typewritten Text
Douglas Powell
Typewritten Text
Page 37: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

ALABAMACOASTAL INS RRG INC11668 509 OLIVER ROAD MONTGOMERY, AL 36117-2207 JOHN MARK KILLINGSWORTH (334) 271-5515 AL

ARIZONAADVANCED PHYSICIANS INS RRG INC12166 2700 NORTH THIRD STREET, SUITE 3050, PHOENIX, AZ 85004-

4620ED CALDWELL (602) 200-6900 AZ

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 1100 W. TOWN & COUNTRY RD., STE. 1400, ORANGE, CA 92868

DOUGLAS JOSEPH HAUSER 714-571-1864 AZ

AMERICAN ASSOC OF OTHODONTISTS RRG10232 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150

REBECCA J. AITCHISON (802) 371-2229 AZ

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 1850 N. CENTRAL AVE., SUITE 1700, PHOENIX, AZ 85004 LEE MILIZIA 623-427-3208 AZ

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 2700 N. THIRD STREET, SUITE 3050, PHOENIX, AZ 85004-1129 GEMMA AGUSTIN TUANQUI 800-226-0793 AZ

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 15255 N. 40TH STREET, SUITE 109, PHOENIX, AZ 85032-4638 CAMELBACK CAPTIVE SERVICES, INC. - RICHARD P. MARS

602-952-9532- AZ

ELITE TRANSPORTATION RRG INC10125 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150

REBECCA J. AITCHISON (802) 371-2229 AZ

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574

LEE M. MILIZIA (602) 427-3208 AZ

MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP12576 2325 E CAMELBACK ROAD, SUITE 600, PHOENIX, AZ 85016-3474

WENDY RAE BROWN (602) 337-6247 AZ

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 11201 N. TATUM, SUITE 300, PHOENIX, AZ 85028 JASON PALMER 808-521-0730 AZ

OLYMPIA RISK RETENTION GROUP, INC.13062 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574

KIMBERLY E. WACK (602) 427-3217 AZ

ORANGE COUNTY MEDICAL RECIP INS RRG12183 2999 NORTH 44TH STREET, SUITE 550, PHOENIX, AZ 85018-7295

TERESA MARIE MATTHEWS (941) 955-0793 AZ

PHP RISK RETENTION GROUP, LIMITED12995 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 SUSAN MUSCAT (802) 658-9466 AZ

RED ROCK RISK RETENTION GROUP, INC.13736 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574

LEE M. MILIZIA (602) 427-3208 AZ

RESTORATION RISK RETENTION GROUP, INC.12209 2999 NORTH 44TH STREET, SUITE 550, PHOENIX, AZ 85018-7295

GEMMA AGUSTIN-TUANQUI (800) 226-0793 AZ

WESTERN INS RRG INC11978 1850 NORTH CENTRAL AVENUE, SUITE 1700, PHOENIX, AZ 85004-4574

KIMBERLY E. WACK (602) 427-3217 AZ

COLORADONATIONAL HOME INSURANCE CO RRG44016 ONE DENVER HIGHLANDS, 10375 EAST HARVARD AVENUE,

SUITE 550, DENVER, CO 80231-3966HUGH B. MCCREERY (303) 306-0002 CO

WESTERN PACIFIC MUT INS CO RRG40940 9265 MADRAS COURT LITTLETON, CO 80130-4444 SHERLYN WILKINSON FARRELL (303) 263-0311 CO

DISTRICT OF COLUMBIAAEGIS HEALTHCARE RRG, INC.12252 555 FAIRMOUNT AVENUE, BALTIMORE, MD 21286 BARBARA LABUSKES 410-339-7263-1203 DC

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 200 INVERNESS PARKWAY BIRMINGHAM, AL 35242-4813 MELANIE T. DIXON (205) 980-0009 DC

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448

GARRETT JAMES DAVENPORT (260) 486-0418 DC

CARE RRG, INC.11825 2233 WISCONSIN AVE, N.W., SUITE 310, WASHINGTON, DC 20007

CHARLES HALSTEAD-JOHNSON 802-223-2200 DC

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 1850 WEST WINCHESTER ROAD, SUITE 109, LIBERTYVILLE, IL 60048-5355

CHAD CURTIS SWIGERT (847) 549-8225 DC

CMIC RISK RETENTION GROUP13756 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 SCOTT C. STONE (802) 371-2231 DC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 38: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

DUBOIS MEDICAL RRG11842 1200 G STREET, NW, SUITE 800, WASHINGTON, DC 20005-6705

BRIAN S. KLINE (814) 375-6377 DC

FAIRWAY PHYSICIANS INS CO RRG11840 15255 NORTH 40TH STREET, SUITE 109, PHOENIX, AZ 85032-4638

RICHARD P. MARSHALL (602) 952-9532 DC

GLOBAL INTL INS CO INC A RRG10991 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

STEVE BEVINS (802) 223-2200 DC

HEALTH CARE CAS RRG INC12236 8725 WEST HIGGINS ROAD, SUITE 810, CHICAGO, IL 60631-2734

JOSEPH ROGER HERMAN (773) 864-8280 DC

HEALTH NETWORK PROVIDERS MUT INS CO11813 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

KATIE GRAY (800) 226-0793x340

DC

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 201 S. MAIN STREET, SUITE 200, ANN ARBOR, MI 48104 PETER M FEENEY 734 996-2700 DC

INTERMODAL INSURANCE COMPANY, RRG11824 1800 SECOND STREET, SUITE 909 E., SARASOTA, FL 34236 TERESA MATTHEWS 941-955-0793 DC

LIFE SERVICES NETWORK RECIP INS RRG11958 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

TERESA MARIE MATTHEWS (941) 955-0793 DC

MEDPRO RRG RISK RETENTION GROUP13589 1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448

GARRETT JAMES DAVENPORT (260) 486-0418 DC

MEDSTAR LIABILITY LTD INS CO INC RRG10124 5565 STERRETT PLACE, FIFTH FLOOR, COLUMBIA, MD 21044-2665

MARCY WATERFALL (802) 864-6269 DC

NATIONAL ASSISTED LIVING RRG, INC.11806 3740 DAVINCI COURT, STE. 130, NORCROSS, GA 30092 ROSE PATRICK 770-455-4913 DC

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007

CHARLES HALSTEAD-JOHNSON 802-223-2200 DC

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP

13792 10375 EAST HARVARD AVENUE, SUITE 100, DENVER, CO 80231-3966

BJORN K. HUBBARD (800) 226-0793x329

DC

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 1001 PENNSYLVANIA AVE., N.W., SUITE 400 SOUTH, WASHINGTON, DC 20004

KATIE GRAY 800-226-0793 DC

NJ CAR RISK RETENTION GROUP12581 1200 G STREET, NW, SUITE 800, WASHINGTON, DC 20005-6705

ROBERT MYERS (609) 883-5056 DC

OCEAN RRG INC10158 837 KEARNY AVENUE KEARNY, NJ 07032-3241 MARY CLAIRE GOFF (877) 587-1763 DC

PCH MUTUAL INSURANCE COMPANY, RRG11973 1800 SECOND STREET, SUITE 909 E., SARASOTA, FL 34236 TERESA MARIE MATTHEWS 941-955-0793 DC

PEDIATRICANS INS RRG OF AMER11772 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

BJORN K. HUBBARD (800) 226-0793x329

DC

PINELANDS INS CO RRG INC12198 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

ANDREW CARLTON (800) 223-0793 DC

PINNACLE RRG INC11858 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

RENEE LAGUE (802) 223-2200 DC

PROBUILDERS SPECIALTY INS CO RRG11671 2859 PACES FERRY ROAD, SUITE 800, ATLANTA, GA 30339-5733

CRAIG BOWDEN (770) 257-1709 DC

REGIONAL HEALTH INS CO RRG12010 1333 H STREET, NW, SUITE 820, WASHINGTON, DC 20005-4707

DEBORAH ANN CANECO (802) 861-6802 DC

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.

12524 STERLING PLAZA, 5949 SHERRY LANE, SUITE 1175, DALLAS, TX 75225-8075

MARY CLAIRE GOFF (877) 587-1763 DC

SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG13571 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

SHAMUS ROFF (802) 371-2253 DC

SIGMA RRG, INC.13557 C/O AON INSURANCE MANAGERS, 1 POSTON ROAD, SUITE 1, CHARLESTON, SC 29407

EMI SWAIM 843-614-3136 DC

SPIRIT MOUNTAIN INS CO RRG INC10754 607 14TH STREET, NW, SUITE 900, WASHINGTON, DC 20005-2019

CHARLES HALSTEAD-JOHNSON (802) 223-2200 DC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 39: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 201 S. MAIN STREET, SUITE 200, ANN ARBOR, MI 48104 PETER M FEENEY 734 996-2700 DC

DELAWAREDELAWARE PROFESSIONAL INSURANCE CO43125 845 THIRD AVENUE, 20TH FLOOR, NEW YORK, NY 10022-

6601I. DAVID GORDON (212) 687-2525 DE

FEDERAL MOTOR CARRIERS RISK RETENTION GROUP, INC.12938 19 NORTH BRIDGE AVENUE RED BANK, NJ 07701-1012 ROBERT M. WILLIS (202) 434-8763 DE

INDEMNITY INSURANCE CORPORATION, RRG12018 950 RIDGEBROOK ROAD, SUITE 1500, SPARKS, MD 21152-9390

JEFFREY BRIAN COHEN (410) 472-6000 DE

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP

12554 NEMOURS BUILDING, 1007 NORTH ORANGE STREET, SUITE 1410, WILMINGTON, DE 19801-1242

PATRICK GHISLAIN THERIAULT (802) 861-2630 DE

MARATHON FIN INS CO INC RRG11117 1710 CORPORATE CROSSING, SUITE ONE, O'FALLON, IL 62269-3741

STEPHEN D. KANTNER (302) 651-8354 DE

SUNLAND RISK RETENTION GROUP, INC.14026 14362 NORTH FRANK LLOYD WRIGHT BOULEVARD, SUITE 1000, SCOTTSDALE, AZ 85260-8847

LAURA LEE DURKIN (800) 872-7475 DE

UNITED CONTRACTORS INS CO INC RRG12280 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

NICOLE S. HUBLER (802) 371-2249 DE

FLORIDAPONCE DE LEON LTC RRG, INC.11809 3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA

30022DONNA K. DALTON 678-781-2444 FL

GEORGIACHATTAHOCHEE RRG CAPTIVE INS CO11065 14382 US HIGHWAY 19, SOUTH THOMASVILLE, GA 31757-

4801CORY E. BROWN (229) 226-

1937x106GA

JOLIET AREA RRG CAPTIVE INS CO12159 14382 US HIGHWAY 19, SOUTH THOMASVILLE, GA 31757-4801

CORY E. BROWN (229) 226-1937x106

GA

HAWAIIALLEGIANT INS CO INC A RRG11965 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3800 MARK HIRONAGA (808) 585-3526 HI

ATTORNEYS INSURANCE MUTUAL RRG INC22670 140 KENNEDY DRIVE SOUTH BURLINGTON, VT 05403-6710 KAREN M. VENNER (802) 651-3377 HI

CALIFORNIA HEALTHCARE INS CO INC RRG44504 9229 SIERRA COLLEGE BOULEVARD ROSEVILLE, CA 95661-5919

JEFFREY DUECK (916) 772-5110 HI

CLINIC MUTUAL INSURANCE CO RRG43770 1003 BISHOP STREET, SUITE 1220, HONOLULU, HI 96813-6436

JASON L. PALMER (808) 521-0730 HI

COLLEGE LIABILITY INS CO A RECIP RRG44598 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3810 SCOT STERENBERG (808) 585-3591 HI

CONTRACTORS INS CO OF NORTH AMER RRG11603 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929

STACEY GIBBS (802) 264-4588 HI

FIRST AUTOMOTIVE INS RRG INC10619 2400 LOUISIANA BOULEVARD, NE ALBUQUERQUE, NM 87110-4303

LARRY K. HINSON (505) 881-2244 HI

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150

SCOTT S. BRAUER (800) 872-7475 HI

HEALTH PROVIDERS INS RECIPROCAL RRG10080 1003 BISHOP STREET, SUITE 1220, HONOLULU, HI 96813-6436

JASON L. PALMER (808) 521-0730 HI

MEDAMERICA MUTUAL RRG INC26257 3000 OAK ROAD, SUITE 600, WALNUT CREEK, CA 94597-2071 CHRISTOPHER PAUL MERTES (925) 949-0101 HI

NATIONAL GUARDIAN RRG INC36072 4075 COPPER RIDGE DRIVE TRAVERSE CITY, MI 49684-7059 MARK A. BURNHEIMER (231) 946-6200 HI

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 C/O WILLIS MANAGEMENT (HAWAII), 1003 BISHOP STREET, HONOLULU, HI 96813-6400

JASON L. PALMER (808) 521-0730 HI

PROFESSIONAL MEDICAL INS RRG INC10840 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929

CHRISTINA KAMAKA (808) 540-4305 HI

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 40: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

RESIDENTIAL INS CO INC A RRG10691 1123 11TH AVENUE, SUITE 403A, HONOLULU, HI 96816-2433

HUGH B. MCCREERY (303) 306-0002 HI

SENTINEL ASSUR RRG INC12005 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3810 SCOT STERENBERG (808) 585-3591 HI

UV INSURANCE RISK RETENTION GROUP, INC.13988 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929

CHRISTINA KAMAKA (808) 540-4305 HI

IOWAAMERICAN FEED INDUSTRY INS CO RRG44202 4685 MERLE HAY ROAD, SUITE 200, DES MOINES, IA 50322-

1982SUSAN P. TINGLEFF (515) 254-0400 IA

ILLINOISOMS NATL INS CO RRG44121 6133 NORTH RIVER ROAD, SUITE 650, ROSEMONT, IL 60018-

5173KATHERINE ANN EHMANN (847) 384-0041 IL

INDIANAAGRI INSURANCE EXCHANGE RRG28380 5825 LAWTON LOOP EAST DRIVE INDIANAPOLIS, IN 46216-

1064P. DEAN DENHART (317) 541-1800 IN

COMMUNITY BLOOD CENTERS EXCH RRG13893 7015 COLLEGE BOULEVARD, SUITE 400, OVERLAND PARK, KS 66211-1671

J. TODD ROSENBAUM (502) 882-4459 IN

KENTUCKYARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP

13580 1700 EASTPOINT PARKWAY LOUISVILLE, KY 40223-4140 JAMES R. MUELLER (502) 244-1343 KY

DOCTORS & SURGEONS NATIONAL RRG13018 3370 SUGARLOAF PARKWAY SUITE G-2/302, LAWRENCEVILLE, GA 30044

SARA M CARPENTER 770-822-2696 KY

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 201 EAST JEFFERSON STREET, SUITE 104, LOUISVILLE, KY 40202-1250

JAY E. CURTIS (802) 864-6301 KY

KENTUCKY HOSPITAL INS CO RRG11939 2501 NELSON MILLER PARKWAY LOUISVILLE, KY 40223-2221 DEBORAH ROSE RILEY (502) 992-4329 KY

MISSOURIPREFERRED PHYSICIANS MEDICAL RRG44083 9000 WEST 67TH STREET SHAWNEE MISSION, KS 66202-3656 BRUCE WILLIAM ANDERSON (913) 262-2585 MO

MONTANAAMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 27 NORTH 27TH STREET, SUITE 1900, CROWNE PLAZA,

BILLINGS, MT 59101KATIE GRAY 800-226-0793-340 MT

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG

11534 111 NORTH HIGGINS, FOURTH FLOOR, MISSOULA, MT 59802 PATRICIA LORRAINE MALONEY 406-523-3908 MT

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC

14005 ORG CORPORATION, P.O. BOX 510, BIGFORK, MT 59911-0510 JOHN S. MALONEY (718) 937-2010 MT

ATTORNEYS LIAB PROTECTION SOC RRG32450 FLORENCE BUILDING, 111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401

MARY PATRICIA NORDHAGEN (406) 728-3113 MT

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401

DANIEL JOHN SEMAN (406) 523-3873 MT

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP13784 111 NORTH HIGGINS AVENUE, SUITE 200, MISSOULA, MT 59802-4401

DANIEL JOHN SEMAN (406) 523-3873 MT

CROSSFIT RISK RETENTION GROUP, INC.13720 111 NORTH SEPULVEDA BOULEVARD, SUITE 243, MANHATTAN BEACH, CA 90266-6849

TONY JAMES SCHMIDT (808) 988-3215 MT

GUARDIAN RRG INC11696 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 JOCELYN M. LYMAN (843) 694-9698 MT

MD RISK RETENTION GROUP, INC.12355 805 MADISON STREET, SUITE 901, SEATTLE, WA 98104-1172 BRENDA M. OLSON (406) 282-0170 MT

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 DANIEL THANH NGUYEN (802) 264-2072 MT

NATIONAL CONTRACTORS INS CO INC RRG12293 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 41: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.

12845 27 NORTH 27TH STREET, SUITE 1900, BILLINGS, MT BJORN K. HUBBARD (800) 226-0793x329

MT

PHYSICIANS RISK RETENTION GROUP LLC13046 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 3250 GREY HAWK COURT, UNIT Z, CARLSBAD, CA 92010-6651

MARY CLAIRE GOFF (877) 587-1763 MT

PROFESSIONALS RISK RETENTION GROUP, INC.13067 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 27 GAGE TERRACE BIGFORK, MT 59911-3544 BRENDA M. OLSON (406) 282-0170 MT

NEBRASKALENDERS PROTECTION ASSUR CO RRG11500 1212 NORTH 96TH STREET OMAHA, NE 68114-2274 RONALD LEE WHEELER (402) 399-3325 NE

NEVADAAGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP

13606 1707 VILLAGE CENTER CIRCLE, SUITE 100, LAS VEGAS, NV 89134-0515

RICK O'BRIEN (702) 938-3175 NV

ARCOA RISK RETENTION GROUP, INC.13177 1325 AIRMOTIVE WAY, SUITE 100, RENO, NV 89502-3294 MICHELLE RENEE TRIMBLE (602) 263-6755x42 NV

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 BJORN K. HUBBARD (800) 226-0793x32 NV

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP

13010 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 MICHAEL T. ROGERS (702) 678-6868 NV

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)

12003 5430 W. SAHARA, LAS VEGAS, NV 89146 BJORN K. HUBBARD 800-226-0793 NV

EMERGENCY PHYSICIANS INS CO RRG11714 1528 EUREKA ROAD, SUITE 102, ROSEVILLE, CA 95661-3047 PAUL SHAMPAY (916) 772-2080 NV

GOLDEN INS CO RRG11145 9121 WEST RUSSELL ROAD, SUITE 113, LAS VEGAS, NV 89148-1238

LEN CLAPP (303) 388-5688x1446

NV

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 ANDREW CARLTON (800) 223-0793 NV

HOME CONSTRUCTION INS CO RRG11950 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 KATIE GRAY (800) 226-0793x34 NV

J.M. WOODWORTH RRG, INC.12594 UUMC 3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA 30022

DONNA K. DALTON 678-781-2444 NV

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 GEMMA AGUSTIN-TUANQUI (800) 226-0793 NV

LEWIS & CLARK LTC RRG, INC11947 3655 BROOKSIDE PARKWAY, SUITE 200, ALPHARETTA, GA 30022

DONNA K. DALTON 678-781-2400 NV

LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP14084 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 LINDA VILLANI (800) 226-0793x31 NV

NATIONAL BUILDERS & CONTRACTORS INS12235 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 GEMMA AGUSTIN-TUANQUI (800) 226-0793 NV

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 TERESA MARIE MATTHEWS (941) 955-0793 NV

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.13810 15615 NORTH 71ST STREET, SUITE 103, SCOTTSDALE, AZ 85254-2150

JAMES SHOOK (802) 371-2273 NV

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 ANDREW CARLTON (800) 223-0793 NV

PHYSICIANS COMPLIANCE LIABILITY INSURANCE COMPANY, RRG12350 832 WILLOW STREET RENO, NV 89502-1304 MAURICIO FERNANDEZ (305) 662-7839 NV

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 BUILDING G, 7890 PETERS ROAD, SUITE 106, PLANTATION, FL 33324-4028

ANCA VAGUE (954) 236-2400 NV

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 575 SOUTH SALIMAN ROAD CARSON CITY, NV 89701-5000 JESSICA CONTRERAS, PHYLLIS ZINK (775) 887-2480 NV

PROAIR RISK RETENTION GROUP, INC.13179 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 TERESA MARIE MATTHEWS (941) 955-0793 NV

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 7251 WEST LAKE MEAD BOULEVARD, SUITE 401, LAS VEGAS, NV 89128-8370

REBECCA S. BOUDREAU (802) 864-1710 NV

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.13993 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 KATIE GRAY (800) 226-0793x34 NV

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 42: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 5430 WEST SAHARA AVENUE LAS VEGAS, NV 89146-3307 ANDREW CARLTON (800) 223-0793 NV

OKLAHOMAVEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP

11063 2007 POOLE DRIVE HUNTSVILLE, AL 35810-3891 SUSAN MARIE URIE (843) 640-3170 OK

SOUTH CAROLINAALLIED SERVICES RISK RETENTION GROUP12013 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200,

CHARLESTON, SC 29407-5384LEN T. LOGAN (877) 872-7475 SC

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 177 MEETING STREET, SUITE 470, CHARLESTON, SC 29401-3160

VIRGINIA ADRIHAN (843) 853-0446x205

SC

CAREGIVERS UNITED LIAB INS CO RRG11544 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

KIM CONNELLY BLOOMER (802) 371-2251 SC

CENTRAL PA PHYSICIANS RRG INC11694 177 MEETING STREET, SUITE 470, CHARLESTON, SC 29401-3160

VIRGINIA ADRIHAN (843) 853-0446x205

SC

CLARIAN HLTH RRG INC11992 340 WEST TENTH STREET, SUITE 3100, INDIANAPOLIS, IN 46202-3082

TONIA EPPS (843) 577-1034 SC

COMMUNITIES OF FAITH RRG INC11807 2711 MIDDLEBURG DRIVE, SUITE 309-A, COLUMBIA, SC 29204-2475

BJORN K. HUBBARD (800) 226-0793x329

SC

CONTINUING CARE RRG, INC.11798 223-B HEATLEY STREET, MONCKS CORNER, SC 29461 KATIE GRAY 800-226-0793-340 SC

EMERGENCY MEDICINE RRG INC12015 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

MANNU LUO (843) 577-1035 SC

FAITH AFFILIATED RRG INC11698 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441

KELLY BOURNE (843) 614-3132 SC

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 4421 ARAMINGO AVENUE PHILADELPHIA, PA 19124-4101 JOSEPH SCHMIDT (215) 235-5000 SC

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441

DAWN M. DINARDO (843) 614-3134 SC

GRACO RRG INC11581 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441

DAWN M. DINARDO (843) 614-3134 SC

GULF BUILDERS RRG INC11970 8300 NORTH HAYDEN ROAD, SUITE A100, SCOTTSDALE, AZ 85258-2479

TODD STEWART (480) 948-4351 SC

GUTHRIE RRG12014 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

JASON MCMILLAN (843) 577-1032 SC

HEALTHCARE PROVIDERS INS CO RRG11683 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

GEOFFREY LEWIS SALMON (404) 835-0454 SC

HERITAGE WARRANTY INS RRG INC11097 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

KIM CONNELLY BLOOMER (802) 371-2251 SC

JAMESTOWN INS CO RRG11589 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

JEFFRY M. DELMAS (802) 371-2252 SC

LVHN RRG11684 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

MANNU LUO (843) 577-1035 SC

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

NICOLE S. HUBLER (802) 371-2249 SC

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441

MICHAEL JOHN COULTER SC

NEW STAR RISK RETENTION GROUP, INC.12532 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

PIPER H. CROCKETT (843) 573-4946 SC

NOVUS INS CO RRG10752 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

ELIZABETH J. FORNEY (843) 573-4834 SC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 43: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

OCEANUS INS CO A RRG12189 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

LEN T. LOGAN (877) 872-7475 SC

PHOEBE RECIPROCAL RRG12004 177 MEETING STREET, SUITE 470, CHARLESTON, SC 29401-3160

VIRGINIA ADRIHAN (843) 853-0446x205

SC

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

CHRISTOPHER CRAIG LEIGH (843) 577-1360 SC

PHYSICIANS SPECIALTY LTD RRG11513 4535 DRESSLER ROAD, NW CANTON, OH 44718-2545 JEFFRY M. DELMAS (802) 371-2252 SC

RED CLAY RISK RETENTION GROUP, INC.13078 14382 US HIGHWAY 19, SOUTH THOMASVILLE, GA 31757-4801

CORY E. BROWN (229) 226-1937x106

SC

REPUBLIC RRG12019 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

ROBERT G. MEETZE (843) 573-4676 SC

SAINT LUKE'S HLTH SYSTEM RRG11712 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

ALICIA D. COLELLA (802) 371-2238 SC

SAMARITAN RISK RETENTION GROUP, INC.12511 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441

DAWN M. DINARDO (843) 614-3134 SC

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441

KELLY BOURNE (843) 614-3132 SC

ST CHARLES INS CO RRG11114 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

LEN T. LOGAN (877) 872-7475 SC

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-3441

KELLY BOURNE (843) 614-3132 SC

SUPERIOR INS CO RRG11669 1180 SAM RITTENBERG BOULEVARD, SUITE 235, CHARLESTON, SC 29407-3384

ROBERT G. MEETZE (843) 573-4676 SC

TITAN INS CO INC RRG11153 BUILDING C, 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

SHAMUS ROFF (802) 371-2253 SC

TENNESSEEPARATRANSIT INSURANCE COMPANY, RRG44130 1000 RIDGEWAY LOOP ROAD, MEMPHIS, TN 38120 ANITA M. PERKINS 802-371-2219 TN

TEXASAMERICAN CONTRACTORS INS CO RRG12300 12222 MERIT DRIVE, SUITE 1660, DALLAS, TX 75251-3212 SUZANNE WALSH (800) 563-6051 TX

UTAHLIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY12627 5679 SOUTH REDWOOD ROAD, SUITE 26, SALT LAKE CITY,

UT 84123-5464V. J. PETIT (801) 262-3525 UT

VIRGINIAHOW INSURANCE COMPANY, A RISK RETENTION GROUP41246 11401 CENTURY OAKS TERRACE, SUITE 310, AUSTIN, TX

78758-8702BRENDA J. STEWART (512) 404-6555 VA

VERMONTACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 1250 BROADWAY, SUITE 3401, NEW YORK, NY 10001-3713 CLAIRE VERONICA OYELAJA (646) 808-0596 VT

ACBG RISK RETENTION GROUP, LLC12557 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 LINDA B. ELLIOTT (802) 864-2750 VT

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JAY E. CURTIS (802) 864-6301 VT

ALLIANCE OF NONPROFITS FOR INS RRG10023 2386 AIRPORT ROAD BARRE, VT 05641-8629 CINDY L. LYFORD (802) 371-2227 VT

AMERICAN EXCESS INS EXCHANGE RRG10903 12554 HIGH BLUFF DRIVE, SUITE 430, SAN DIEGO, CA KATHRYN MICHENER BOUCHER (802) 863-4400 VT

AMERICAN SAFETY RRG INC25448 100 GALLERIA PARKWAY, SE, SUITE 700, ATLANTA, GA 30339-5947

MATTHEW ROBERT POLLAK (770) 485-4423 VT

AMERIGUARD RRG INC12171 2386 AIRPORT ROAD BARRE, VT 05641-8629 SCOTT C. STONE (802) 371-2231 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 44: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 311 SOUTH WACKER DRIVE, SUITE 5700, CHICAGO, IL 60606-6629

KEITH RUSSELL CRAVEN (312) 697-6950 VT

BAR VERMONT RISK RETENTION GROUP INC10174 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

JEREMIAH MAHANEY (802) 264-4715 VT

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 MEGAN HULETTE (802) 264-2086 VT

BROADLINE RISK RETENTION GROUP, INC.13788 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MELISSA H. LAROSE (802) 864-1716 VT

CASSATT RISK RETENTION GROUP INC10808 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

SCOTT ANDREW MAILLE (802) 264-4711 VT

CHC CAS RRG11531 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 AMY L. DAIGLE (802) 864-1717 VT

CIMARRON INSURANCE EXCHANGE RRG12308 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 PAULA A. FRENCH (802) 371-2321 VT

CIRCLE STAR INS CO RRG11839 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324 RENEE LAGUE (802) 223-2200 VT

CLAIM PROFESSIONALS LIAB INS CO RRG12172 17742 IRVINE BOULEVARD, SUITE 102, TUSTIN, CA 92780-3255

RAMON ROBERT RAMOS V (802) 371-2275 VT

COLLEGE RISK RETENTION GROUP, INC.13613 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JENNIFER L. PETTENGILL (802) 864-2111 VT

COLUMBIA NATIONAL RRG INC10803 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JOHN H. RAYMOND (802) 864-2751 VT

COMCARE PRO INS RECIPROCAL RRG11864 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 JONATHAN J. MCKENZIE (802) 264-2073 VT

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MELISSA H. LAROSE (802) 864-1716 VT

COMMUNITY HOSPITAL RRG11259 2547 WASHINGTON ROAD, 720 SUMMERFIELD COMMONS, UPPER SAINT CLAIR, PA 15241-2557

DONNA B. NORMAND (802) 871-5063 VT

CONSORTIUM RRG11528 150 BANK STREET, SUITE 201, BURLINGTON, VT 05401-4411 TARA JEAN SMITH (802) 735-1679 VT

CONSUMER SPECIALTIES INS CO RRG10075 2386 AIRPORT ROAD-BERLIN BARRE, VT 05641-8629 PAULA A. FRENCH (802) 371-2321 VT

CONTROLLED RISK INS CO OF VT RRG10341 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MELISSA H. LAROSE (802) 864-1716 VT

CPA MUTUAL INS CO OF AMERICA RRG10164 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 DAVID D. GUERINO (802) 264-2060 VT

CRUDEN BAY RRG INC11676 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 ABIGAIL M. BERNIER (802) 371-2233 VT

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 100 BLANK STREET, SUITE 610, BURLINGTON, VT 05401 JOHN H. RAYMOND (802) 864-2751 VT

EASTERN DENTISTS INS CO RRG10115 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476

STEPHEN M. BROWN (802) 861-2930 VT

EVERGREEN USA RRG INC38466 10 FALCON ROAD LEWISTON, ME 04240-5833 ERIC GILCRIS (802) 264-4577 VT

FIRST MEDICAL INS CO RRG11278 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JODI K. GUZZARDO (802) 864-6332 VT

FRANKLIN CASUALTY INS CO RRG10842 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 DELISCA A. CHRISTIAN (802) 864-2110 VT

FREDERICKSBURG PROFESSIONAL RISK EXC12016 2386 AIRPORT ROAD BARRE, VT 05641-8629 SCOTT C. STONE (802) 371-2231 VT

GEISINGER INS CORP RRG12000 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

RONDA LYNN DEVINO (802) 264-4593 VT

GENERAL EASTERN SKI INS RRG INC10163 76 SAINT PAUL STREET BURLINGTON, VT 05401-4470 DYAN O'HERNE (802) 264-4713 VT

GLOBAL HAWK INSURANCE COMPANY RRG11948 148 COLLEGE ST., SUITE 204, BURLINGTON, VT 5401 STEPHEN M BROWN 802-861-2930 x102 VT

GREEN HILLS INS CO RRG11941 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JEFFREY M. TUCKER (802) 864-5599 VT

HAMDEN ASSURANCE RRG, INC.13057 30 MAIN STREET, SUITE 330, BURLINGTON, VT 05401-8427 JOSEPH BERNARD PERCY (802) 419-1218 VT

HEARTLAND HEALTHCARE RECIP RRG11998 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 DAVID D. GUERINO (802) 264-2060 VT

HOUSING AUTHORITY RRG INC26797 189 COMMERCE COURT, P.O. BOX 189, CHESHIRE, CT 06410-0189

PAULETTE ACHILLI (203) 272-8220x442

VT

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 1401 H STREET, NW, SUITE 1000, WASHINGTON, DC 20005-2031

CHARLES WARREN BEHR (202) 326-5464 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 45: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

INDIANA HEALTHCARE RECIP RRG11692 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 ALIHAN ALIHAN (802) 264-2074 VT

LAKE STREET RRG INC11803 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

THERESA MAE CARPENTER (802) 862-4400 VT

MCIC VERMONT INC RRG10697 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

DIANE M. HANSON (802) 652-1571 VT

MENTAL HEALTH RISK RETENTION GROUP44237 103 EISENHOWER PARKWAY, SUITE 101, ROSELAND, NJ 07068-1029

MERISSA S. BUSHEY (802) 863-2398 VT

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476

THAO T. NGUYEN (802) 861-2930x108

VT

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

ANDREW HAMME (802) 264-4592 VT

MOUNTAIN LAUREL RRG INC11547 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 AMANDA R. WESCOTT (802) 864-2037 VT

NATIONAL CATHOLIC RRG10083 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476

MARY MARIO RICHARDS (802) 861-2930x104

VT

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP

13059 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 LISA M. KANE (802) 864-2120 VT

OASIS RECIPROCAL RISK RETENTION GROUP13644 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 GARY A. GRISWOLD (802) 658-9466 VT

OOIDA RISK RETENTION GROUP INC10353 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324 STEVE BEVINS (802) 223-2200 VT

OPHTHALMIC MUTUAL INS CO RRG44105 655 BEACH STREET SAN FRANCISCO, CA 94109-1336 LES J. SCACCALOSI (415) 202-4618 VT

ORDINARY MUTUAL A RRG CORP10171 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

TRISHA L. DESRANLEAU (802) 652-1556 VT

PACE RRG INC11575 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

GARY P. O'HARE (802) 652-1568 VT

PEACE CHURCH RRG INC11846 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476

MARY MARIO RICHARDS (802) 861-2930x104

VT

PELICAN INS RRG11587 40 MAIN STREET, SUITE 200, BURLINGTON, VT 05401-8492 JONATHAN J. MCKENZIE (802) 264-2073 VT

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP

12918 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 AMANDA R. WESCOTT (802) 864-2037 VT

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

STACEY GIBBS (802) 264-4588 VT

PHYSICIANS REIMBURSEMENT RRG10934 2386 AIRPORT ROAD BARRE, VT 05641-8629 ALICIA RUBALCABA (802) 371-2216 VT

PINE TREE INS RECIPROCAL RRG12348 2386 AIRPORT ROAD BARRE, VT 05641-8629 ALICIA RUBALCABA (802) 371-2216 VT

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MARCY WATERFALL (802) 864-6269 VT

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MICHAEL A. CZAPLICKE (802) 864-2109 VT

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)

11350 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MARCY WATERFALL (802) 864-6269 VT

SCHUYKILL CROSSING RECIPROCAL RRG11808 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

BILL MOURELATOS (802) 652-1558 VT

SECURITY AMERICA RRG INC11267 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JODI K. GUZZARDO (802) 864-6332 VT

ST LUKES HEALTH NETWORK INS CO RRG11688 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

MARY DESRANLEAU (802) 264-4710 VT

STATES SELF-INSURERS RRG44075 222 SOUTH NINTH STREET, SUITE 1300, MINNEAPOLIS, MN 55402-3332

SHERYL ANN SATTLER (612) 766-3000 VT

STICO MUT INS CO RRG10476 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

BECKI MINOLI (802) 264-4576 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 46: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Address Statement Contact Phone Domiciled

Risk Retention Groups - Listing by State

TERRA INS CO RRG10113 2386 AIRPORT ROAD BARRE, VT 05641-8629 ABIGAIL M. BERNIER (802) 371-2233 VT

THE HEALTHCARE UNDERWRITING CO RRG10152 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 MARCY WATERFALL (802) 864-6269 VT

TITLE INDUSTRY ASSURANCE CO RRG10084 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

TRISHA L. DESRANLEAU (802) 652-1556 VT

UNITED CENTRAL PA RRG11548 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

SHERI TREMBLAY (802) 652-1554 VT

UNITED EDUCATORS INS RRG INC10020 TWO WISCONSIN CIRCLE, FOURTH FLOOR, CHEVY CHASE, MD 20815-9913

KAREN LEE VERDON (301) 215-6423 VT

UNITED HOME INSURANCE CO A RRG10712 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 DELISCA A. CHRISTIAN (802) 864-2110 VT

WARREN RRG INC11802 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JAY E. CURTIS (802) 864-6301 VT

WELLSPAN RRG11682 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 JENNIFER L. PETTENGILL (802) 864-2111 VT

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP13154 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946 LISA H. MANLEY (802) 864-2124 VT

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)

11796 30 MAIN STREET, SUITE 450, BURLINGTON, VT 05401-8427 ANITA M. PERKINS (802) 371-2219 VT

WEST VIRGINIAMOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.12779 ONE POSTON ROAD, SUITE 155, CHARLESTON, SC 29407-

3441KELLY BOURNE (843) 614-3132 WV

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 47: Demotech, Inc. Analysis of Risk Retention Groups

COMPANYNAIC Cash and Invested Assets

Net Reinsurance

Risk Retention Groups - Assets By StateOther Assets Total Assets

ALABAMACOASTAL INS RRG INC11668 $48,072,310 $0 $52,250,130$4,177,820

SUBTOTAL ALABAMA $48,072,310 $0 $52,250,130$4,177,820

ARIZONAADVANCED PHYSICIANS INS RRG INC12166 $1,322,222 $0 $1,392,203$69,981

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 $21,445,504 $244,653 $23,577,711$1,887,554

AMERICAN ASSOC OF OTHODONTISTS RRG10232 $31,791,043 $0 $33,439,527$1,648,484

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 $62,430,184 $344,405 $83,946,919$21,172,330

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 $11,042,505 $0 $14,303,844$3,261,339

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 $3,557,888 $18,659 $3,661,911$85,364

ELITE TRANSPORTATION RRG INC10125 $10,852,073 $0 $13,525,664$2,673,591

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 $3,817,970 $0 $4,136,946$318,976

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 $7,969,355 $996,880 $10,047,548$1,081,313

OLYMPIA RISK RETENTION GROUP, INC.13062 $933,536 $0 $2,103,775$1,170,239

ORANGE COUNTY MEDICAL RECIP INS RRG12183 $4,135,984 $0 $5,161,834$1,025,850

RED ROCK RISK RETENTION GROUP, INC.13736 $13,295,648 $0 $13,548,444$252,796

RESTORATION RISK RETENTION GROUP, INC.12209 $38,343,529 $0 $43,360,852$5,017,323

WESTERN INS RRG INC11978 $531,738 $0 $559,635$27,897

SUBTOTAL ARIZONA $211,469,179 $1,604,597 $252,766,813$39,693,037

COLORADONATIONAL HOME INSURANCE CO RRG44016 $50,140,567 $0 $54,110,241$3,969,674

WESTERN PACIFIC MUT INS CO RRG40940 $126,921,909 $0 $130,303,015$3,381,106

SUBTOTAL COLORADO $177,062,476 $0 $184,413,256$7,350,780

DISTRICT OF COLUMBIAAEGIS HEALTHCARE RRG, INC.12252 $1,778,758 $74,358 $3,361,215$1,508,099

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 $14,899,768 $0 $16,216,870$1,317,102

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 $1,441,248 $12,039 $1,530,218$76,931

CARE RRG, INC.11825 $9,243,729 $806,155 $11,509,722$1,459,838

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 $40,764,339 $0 $68,153,623$27,389,284

CMIC RISK RETENTION GROUP13756 $3,269,839 $0 $3,559,133$289,294

DUBOIS MEDICAL RRG11842 $6,881,706 $0 $6,934,281$52,575

FAIRWAY PHYSICIANS INS CO RRG11840 $13,922,016 $3,655,725 $30,176,229$12,598,488

GLOBAL INTL INS CO INC A RRG10991 $17,732,983 $0 $18,861,912$1,128,929

HEALTH CARE CAS RRG INC12236 $16,013,028 $24,618,511 $47,252,269$6,620,730

HEALTH NETWORK PROVIDERS MUT INS CO11813 $6,668,052 $0 $7,586,252$918,200

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 $18,098,517 $98,061,958 $150,723,106$34,562,631

INTERMODAL INSURANCE COMPANY, RRG11824 $677,665 $7,719,848 $8,615,119$217,606

LIFE SERVICES NETWORK RECIP INS RRG11958 $7,353,878 $0 $7,648,254$294,376

MEDPRO RRG RISK RETENTION GROUP13589 $5,107,173 $9,287,008 $27,292,987$12,898,806

MEDSTAR LIABILITY LTD INS CO INC RRG10124 $3,693,767 $1,657,487 $5,797,602$446,348

NATIONAL ASSISTED LIVING RRG, INC.11806 $6,403,069 $0 $6,864,607$461,538

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 $9,242,494 $87,432 $9,490,671$160,745

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP13792 $7,889,519 $0 $9,961,802$2,072,283

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 $9,327,460 $29,253 $14,852,205$5,495,492

OCEAN RRG INC10158 $5,462,075 $0 $10,517,242$5,055,167

PCH MUTUAL INSURANCE COMPANY, RRG11973 $7,769,135 $220,848 $8,890,797$900,814

PEDIATRICANS INS RRG OF AMER11772 $1,033,806 $0 $1,177,716$143,910

PINELANDS INS CO RRG INC12198 $215,927 $0 $3,614,181$3,398,254

PINNACLE RRG INC11858 $2,566,073 $0 $2,588,235$22,162

PROBUILDERS SPECIALTY INS CO RRG11671 $17,330,613 $95,269,674 $153,804,693$41,204,406

REGIONAL HEALTH INS CO RRG12010 $659,587 $1,297,335 $2,040,297$83,375

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.12524 $455,858 $3,801,060 $5,451,417$1,194,499

SIGMA RRG, INC.13557 $8,029,734 $0 $9,076,023$1,046,289

SPIRIT MOUNTAIN INS CO RRG INC10754 $5,744,003 $0 $6,435,310$691,307

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 $2,192,441 $299,439 $2,524,870$32,990

SUBTOTAL DISTRICT OF COLUMBIA $251,868,260 $246,898,130 $662,508,858$163,742,468

DELAWAREDELAWARE PROFESSIONAL INSURANCE CO43125 $9,748,807 $0 $10,084,723$335,916

INDEMNITY INSURANCE CORPORATION, RRG12018 $5,489,572 $1,181,693 $34,165,106$27,493,841

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

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MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 $2,193,123 $0 $3,753,308$1,560,185

MARATHON FIN INS CO INC RRG11117 $3,514,998 $0 $14,943,148$11,428,150

SUNLAND RISK RETENTION GROUP, INC.14026 $1,752,729 $0 $2,920,665$1,167,936

UNITED CONTRACTORS INS CO INC RRG12280 $20,342,954 $0 $24,369,484$4,026,530

SUBTOTAL DELAWARE $43,042,183 $1,181,693 $90,236,434$46,012,558

FLORIDAPONCE DE LEON LTC RRG, INC.11809 $14,400,374 $756,933 $16,499,921$1,342,614

SUBTOTAL FLORIDA $14,400,374 $756,933 $16,499,921$1,342,614

GEORGIACHATTAHOCHEE RRG CAPTIVE INS CO11065 $5,020,875 $0 $5,259,635$238,760

JOLIET AREA RRG CAPTIVE INS CO12159 $7,847,292 $0 $8,374,392$527,100

SUBTOTAL GEORGIA $12,868,167 $0 $13,634,027$765,860

HAWAIIALLEGIANT INS CO INC A RRG11965 $9,352,950 $1,108,244 $11,394,580$933,386

ATTORNEYS INSURANCE MUTUAL RRG INC22670 $18,279,560 $0 $19,660,874$1,381,314

CALIFORNIA HEALTHCARE INS CO INC RRG44504 $95,497,370 $0 $112,660,347$17,162,977

CLINIC MUTUAL INSURANCE CO RRG43770 $6,440,179 $0 $6,783,707$343,528

COLLEGE LIABILITY INS CO A RECIP RRG44598 $10,395,799 $0 $12,482,215$2,086,416

CONTRACTORS INS CO OF NORTH AMER RRG11603 $35,005,616 $0 $36,383,541$1,377,925

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 $1,009,660 $0 $1,010,133$473

HEALTH PROVIDERS INS RECIPROCAL RRG10080 $69,606,223 $0 $74,288,823$4,682,600

MEDAMERICA MUTUAL RRG INC26257 $63,515,617 $0 $69,643,677$6,128,060

NATIONAL GUARDIAN RRG INC36072 $11,790,139 $1,202,361 $16,474,007$3,481,507

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 $5,909,382 $0 $5,948,207$38,825

PROFESSIONAL MEDICAL INS RRG INC10840 $324,954 $0 $333,268$8,314

RESIDENTIAL INS CO INC A RRG10691 $2,436,577 $0 $2,645,646$209,069

SENTINEL ASSUR RRG INC12005 $14,166,562 $0 $16,902,446$2,735,884

UV INSURANCE RISK RETENTION GROUP, INC.13988 $532,515 $0 $654,015$121,500

SUBTOTAL HAWAII $344,263,103 $2,310,605 $387,265,486$40,691,778

IOWAAMERICAN FEED INDUSTRY INS CO RRG44202 $5,723,923 $0 $5,902,031$178,108

SUBTOTAL IOWA $5,723,923 $0 $5,902,031$178,108

ILLINOISOMS NATL INS CO RRG44121 $296,635,775 $51,099 $353,589,759$56,902,885

SUBTOTAL ILLINOIS $296,635,775 $51,099 $353,589,759$56,902,885

INDIANAAGRI INSURANCE EXCHANGE RRG28380 $12,404,226 $0 $12,462,173$57,947

COMMUNITY BLOOD CENTERS EXCH RRG13893 $22,035,691 $0 $24,119,005$2,083,314

SUBTOTAL INDIANA $34,439,917 $0 $36,581,178$2,141,261

KENTUCKYARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP13580 $1,106,412 $0 $2,253,925$1,147,513

DOCTORS & SURGEONS NATIONAL RRG13018 $5,247,515 $0 $6,568,554$1,321,039

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 $44,690,971 $0 $49,210,149$4,519,178

KENTUCKY HOSPITAL INS CO RRG11939 $19,689,019 $0 $21,263,071$1,574,052

SUBTOTAL KENTUCKY $70,733,917 $0 $79,295,699$8,561,782

MISSOURIPREFERRED PHYSICIANS MEDICAL RRG44083 $181,089,425 $0 $186,891,348$5,801,923

SUBTOTAL MISSOURI $181,089,425 $0 $186,891,348$5,801,923

MONTANAAMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 $87,498 $61,451 $1,191,236$1,042,287

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG11534 $10,285,745 $0 $11,810,109$1,524,364

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC14005 $547,047 $0 $673,342$126,295

ATTORNEYS LIAB PROTECTION SOC RRG32450 $82,292,306 $0 $92,161,524$9,869,218

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 $1,366,250 $0 $1,624,958$258,708

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP13784 $643,975 $0 $678,738$34,763

CROSSFIT RISK RETENTION GROUP, INC.13720 $767,516 $0 $1,115,790$348,274

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

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GUARDIAN RRG INC11696 $4,434,496 $0 $5,342,030$907,534

MD RISK RETENTION GROUP, INC.12355 $12,319,862 $0 $13,309,365$989,503

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 $91,991,413 $0 $93,232,883$1,241,470

NATIONAL CONTRACTORS INS CO INC RRG12293 $6,285,957 $9,264,991 $18,560,142$3,009,194

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.12845 $3,181,058 $0 $4,134,423$953,365

PHYSICIANS RISK RETENTION GROUP LLC13046 $1,499,690 $0 $1,902,960$403,270

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 $23,871,295 $16,627,221 $48,967,905$8,469,389

PROFESSIONALS RISK RETENTION GROUP, INC.13067 $1,977,476 $0 $3,402,046$1,424,570

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 $1,664,874 $0 $1,891,755$226,881

SUBTOTAL MONTANA $243,216,458 $25,953,663 $299,999,206$30,829,085

NEBRASKALENDERS PROTECTION ASSUR CO RRG11500 $2,384,913 $0 $2,569,150$184,237

SUBTOTAL NEBRASKA $2,384,913 $0 $2,569,150$184,237

NEVADAAGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 $1,034,853 $0 $1,560,661$525,808

ARCOA RISK RETENTION GROUP, INC.13177 $8,587,021 $0 $9,745,774$1,158,753

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 $20,260,670 $0 $21,661,687$1,401,017

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 $1,755,623 $0 $2,197,278$441,655

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)12003 $11,687,042 $301,886 $17,386,945$5,398,017

EMERGENCY PHYSICIANS INS CO RRG11714 $34,585,910 $0 $39,591,674$5,005,764

GOLDEN INS CO RRG11145 $3,436,648 $0 $4,825,067$1,388,419

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 $670,204 $0 $735,692$65,488

HOME CONSTRUCTION INS CO RRG11950 $5,628,367 $0 $6,378,016$749,649

J.M. WOODWORTH RRG, INC.12594 $9,754,520 $6,927,407 $19,686,463$3,004,536

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 $7,426,303 $0 $11,117,275$3,690,972

LEWIS & CLARK LTC RRG, INC11947 $12,538,177 $5,101,703 $24,304,046$6,664,166

LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP14084 $504,343 $0 $504,343$0

NATIONAL BUILDERS & CONTRACTORS INS12235 $4,512,430 $0 $5,476,774$964,344

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 $2,871,746 $0 $3,153,839$282,093

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.13810 $675,409 $0 $708,469$33,060

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 $1,508,264 $0 $2,438,993$930,729

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 $6,303,320 $0 $7,049,597$746,277

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 $8,149,569 $0 $10,776,317$2,626,748

PROAIR RISK RETENTION GROUP, INC.13179 $38,186 $0 $675,871$637,685

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 $7,017,293 $0 $7,618,213$600,920

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.13993 $291,427 $0 $525,280$233,853

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 $1,890,900 $0 $2,332,949$442,049

SUBTOTAL NEVADA $151,128,225 $12,330,996 $200,451,223$36,992,002

OKLAHOMAVEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 $2,513,323 $0 $2,660,851$147,528

SUBTOTAL OKLAHOMA $2,513,323 $0 $2,660,851$147,528

SOUTH CAROLINAALLIED SERVICES RISK RETENTION GROUP12013 $5,558,568 $0 $5,590,043$31,475

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 $2,125,121 $0 $2,146,729$21,608

CAREGIVERS UNITED LIAB INS CO RRG11544 $29,152,351 $87,011 $32,566,396$3,327,034

CENTRAL PA PHYSICIANS RRG INC11694 $55,432,975 $0 $57,992,029$2,559,054

CLARIAN HLTH RRG INC11992 $1,582,848 $0 $12,669,854$11,087,006

COMMUNITIES OF FAITH RRG INC11807 $12,685,891 $0 $13,191,936$506,045

CONTINUING CARE RRG, INC.11798 $2,903,648 $0 $5,095,222$2,191,574

EMERGENCY MEDICINE RRG INC12015 $9,325,049 $0 $11,777,345$2,452,296

FAITH AFFILIATED RRG INC11698 $7,485,838 $0 $7,944,063$458,225

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 $11,256,389 $0 $21,255,718$9,999,329

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 $2,431,504 $0 $2,690,818$259,314

GRACO RRG INC11581 $708,750 $0 $1,434,433$725,683

GUTHRIE RRG12014 $46,677,530 $0 $54,310,798$7,633,268

HEALTHCARE PROVIDERS INS CO RRG11683 $58,694,174 $0 $60,846,979$2,152,805

HERITAGE WARRANTY INS RRG INC11097 $766,210 $760,000 $1,526,210$0

JAMESTOWN INS CO RRG11589 $3,084,125 $0 $5,955,346$2,871,221

LVHN RRG11684 $33,601,708 $0 $43,780,077$10,178,369

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

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NATIONAL INDEPENDENT TRUCKERS IC RRG11197 $4,619,233 $310,301 $8,181,030$3,251,496

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 $3,791,751 $0 $5,186,392$1,394,641

NEW STAR RISK RETENTION GROUP, INC.12532 $7,837,422 $0 $9,399,159$1,561,737

NOVUS INS CO RRG10752 $4,117,870 $369,706 $5,669,938$1,182,362

OCEANUS INS CO A RRG12189 $52,843,426 $2,398,433 $66,962,233$11,720,374

PHOEBE RECIPROCAL RRG12004 $4,438,405 $0 $4,475,764$37,359

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 $34,852,283 $0 $47,051,646$12,199,363

PHYSICIANS SPECIALTY LTD RRG11513 $9,432,244 $0 $10,318,571$886,327

RED CLAY RISK RETENTION GROUP, INC.13078 $2,833,484 $0 $4,544,531$1,711,047

SAINT LUKE'S HLTH SYSTEM RRG11712 $21,710,144 $0 $23,132,359$1,422,215

SAMARITAN RISK RETENTION GROUP, INC.12511 $17,249,339 $0 $19,991,790$2,742,451

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 $41,284,912 $0 $45,071,991$3,787,079

ST CHARLES INS CO RRG11114 $9,911,640 $0 $10,392,078$480,438

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 $699,429 $0 $738,948$39,519

SUPERIOR INS CO RRG11669 $9,539,122 $0 $24,752,445$15,213,323

TITAN INS CO INC RRG11153 $28,691,200 $0 $29,902,323$1,211,123

SUBTOTAL SOUTH CAROLINA $537,324,583 $3,925,451 $656,545,194$115,295,160

TENNESSEEPARATRANSIT INSURANCE COMPANY, RRG44130 $19,867,747 $0 $21,925,706$2,057,959

SUBTOTAL TENNESSEE $19,867,747 $0 $21,925,706$2,057,959

TEXASAMERICAN CONTRACTORS INS CO RRG12300 $6,666,553 $0 $19,487,846$12,821,293

SUBTOTAL TEXAS $6,666,553 $0 $19,487,846$12,821,293

UTAHLIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY12627 $3,545,539 $0 $6,380,390$2,834,851

SUBTOTAL UTAH $3,545,539 $0 $6,380,390$2,834,851

VIRGINIAHOW INSURANCE COMPANY, A RISK RETENTION GROUP41246 $121,214,923 $0 $123,445,017$2,230,094

SUBTOTAL VIRGINIA $121,214,923 $0 $123,445,017$2,230,094

VERMONTACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 $2,867,159 $0 $3,999,034$1,131,875

ACBG RISK RETENTION GROUP, LLC12557 $2,153,899 $0 $3,380,957$1,227,058

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 $3,691,227 $0 $4,289,885$598,658

ALLIANCE OF NONPROFITS FOR INS RRG10023 $43,149,872 $0 $52,856,978$9,707,106

AMERICAN EXCESS INS EXCHANGE RRG10903 $396,651,484 $0 $399,782,194$3,130,710

AMERICAN SAFETY RRG INC25448 $9,554,700 $0 $15,057,553$5,502,853

AMERIGUARD RRG INC12171 $11,376,769 $0 $12,038,659$661,890

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 $84,291,351 $0 $132,010,884$47,719,533

BAR VERMONT RISK RETENTION GROUP INC10174 $16,619,388 $0 $18,682,231$2,062,843

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 $17,461,796 $0 $23,956,196$6,494,400

BROADLINE RISK RETENTION GROUP, INC.13788 $54,951,786 $0 $83,630,504$28,678,718

CASSATT RISK RETENTION GROUP INC10808 $4,799,847 $0 $6,671,763$1,871,916

CHC CAS RRG11531 $33,340,762 $0 $36,134,170$2,793,408

CIMARRON INSURANCE EXCHANGE RRG12308 $4,062,840 $0 $6,796,094$2,733,254

CIRCLE STAR INS CO RRG11839 $1,838,742 $0 $3,488,617$1,649,875

CLAIM PROFESSIONALS LIAB INS CO RRG12172 $1,585,342 $0 $2,691,456$1,106,114

COLLEGE RISK RETENTION GROUP, INC.13613 $9,304,957 $0 $18,969,059$9,664,102

COLUMBIA NATIONAL RRG INC10803 $1,747,848 $0 $1,779,813$31,965

COMCARE PRO INS RECIPROCAL RRG11864 $3,472,478 $0 $4,362,651$890,173

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 $112,964,112 $0 $119,187,142$6,223,030

COMMUNITY HOSPITAL RRG11259 $175,176,593 $0 $186,887,866$11,711,273

CONSORTIUM RRG11528 $8,860,546 $0 $9,006,057$145,511

CONSUMER SPECIALTIES INS CO RRG10075 $5,423,880 $0 $5,998,804$574,924

CONTROLLED RISK INS CO OF VT RRG10341 $54,737,570 $0 $56,221,786$1,484,216

CPA MUTUAL INS CO OF AMERICA RRG10164 $18,288,430 $78,443 $22,962,051$4,595,178

CRUDEN BAY RRG INC11676 $10,694,575 $0 $11,567,223$872,648

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 $4,025,096 $0 $6,393,691$2,368,595

EASTERN DENTISTS INS CO RRG10115 $39,401,947 $0 $44,774,699$5,372,752

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 51: Demotech, Inc. Analysis of Risk Retention Groups

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EVERGREEN USA RRG INC38466 $10,927,211 $0 $15,359,372$4,432,161

FIRST MEDICAL INS CO RRG11278 $98,956,095 $0 $111,725,030$12,768,935

FRANKLIN CASUALTY INS CO RRG10842 $1,253,705 $0 $41,103,391$39,849,686

FREDERICKSBURG PROFESSIONAL RISK EXC12016 $20,644,774 $0 $26,734,120$6,089,346

GEISINGER INS CORP RRG12000 $2,401,857 $0 $18,458,430$16,056,573

GENERAL EASTERN SKI INS RRG INC10163 $1,194,101 $0 $2,925,800$1,731,699

GLOBAL HAWK INSURANCE COMPANY RRG11948 $7,061,168 $0 $8,959,630$1,898,462

GREEN HILLS INS CO RRG11941 $19,176,870 $0 $22,933,033$3,756,163

HAMDEN ASSURANCE RRG, INC.13057 $1,711,609 $0 $69,113,065$67,401,456

HEARTLAND HEALTHCARE RECIP RRG11998 $13,554,596 $0 $14,267,735$713,139

HOUSING AUTHORITY RRG INC26797 $294,002,900 $0 $306,421,143$12,418,243

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 $265,563,989 $2,649,859 $291,487,008$23,273,160

INDIANA HEALTHCARE RECIP RRG11692 $25,395,170 $0 $26,321,108$925,938

LAKE STREET RRG INC11803 $2,607,601 $0 $2,683,586$75,985

MENTAL HEALTH RISK RETENTION GROUP44237 $22,208,432 $142,596 $24,249,312$1,898,284

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 $5,699,519 $0 $9,400,189$3,700,670

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 $277,089 $0 $1,569,128$1,292,039

MOUNTAIN LAUREL RRG INC11547 $13,467,774 $0 $16,091,549$2,623,775

NATIONAL CATHOLIC RRG10083 $51,811,915 $0 $63,434,699$11,622,784

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP13059 $7,393,563 $0 $7,666,362$272,799

OASIS RECIPROCAL RISK RETENTION GROUP13644 $3,739,716 $0 $8,252,989$4,513,273

OOIDA RISK RETENTION GROUP INC10353 $39,517,366 $0 $57,567,117$18,049,751

OPHTHALMIC MUTUAL INS CO RRG44105 $216,923,268 $0 $229,116,573$12,193,305

ORDINARY MUTUAL A RRG CORP10171 $25,766,220 $0 $28,617,172$2,850,952

PACE RRG INC11575 $6,064,564 $8,019,749 $19,966,935$5,882,622

PEACE CHURCH RRG INC11846 $19,953,205 $0 $21,053,008$1,099,803

PELICAN INS RRG11587 $15,922,815 $0 $16,145,370$222,555

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP12918 $3,796,078 $0 $4,479,420$683,342

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 $39,375,820 $0 $43,071,495$3,695,675

PHYSICIANS REIMBURSEMENT RRG10934 $25,223,245 $0 $25,624,195$400,950

PINE TREE INS RECIPROCAL RRG12348 $14,076,256 $0 $14,548,965$472,709

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 $6,339,806 $0 $6,563,893$224,087

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 $1,986,201 $0 $2,066,333$80,132

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)11350 $4,993,871 $0 $5,095,650$101,779

SCHUYKILL CROSSING RECIPROCAL RRG11808 $23,094,355 $0 $24,563,203$1,468,848

SECURITY AMERICA RRG INC11267 $3,548,303 $406,701 $4,484,471$529,467

ST LUKES HEALTH NETWORK INS CO RRG11688 $41,855,805 $0 $44,441,749$2,585,944

STATES SELF-INSURERS RRG44075 $23,298,710 $0 $23,927,013$628,303

STICO MUT INS CO RRG10476 $17,009,564 $293,770 $19,421,769$2,118,435

TERRA INS CO RRG10113 $24,303,466 $0 $28,597,905$4,294,439

THE HEALTHCARE UNDERWRITING CO RRG10152 $17,992,398 $0 $63,366,857$45,374,459

TITLE INDUSTRY ASSURANCE CO RRG10084 $5,773,533 $1,166 $7,453,024$1,678,325

UNITED CENTRAL PA RRG11548 $19,244,410 $0 $20,592,041$1,347,631

UNITED EDUCATORS INS RRG INC10020 $634,277,839 $0 $675,125,855$40,848,016

UNITED HOME INSURANCE CO A RRG10712 $3,237,556 $0 $4,457,223$1,219,667

WARREN RRG INC11802 $7,272,662 $0 $7,792,532$519,870

WELLSPAN RRG11682 $14,961,648 $0 $23,838,680$8,877,032

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP13154 $2,627,408 $0 $2,759,613$132,205

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 $15,227,461 $0 $17,583,322$2,355,861

SUBTOTAL VERMONT $3,275,208,483 $11,592,284 $3,825,056,079$538,255,312

WEST VIRGINIAMOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.12779 $23,575,585 $0 $25,691,431$2,115,846

SUBTOTAL WEST VIRGINIA $23,575,585 $0 $25,691,431$2,115,846

$6,078,315,341 $306,605,451 $7,506,047,033TOTAL - ALL RRGs $1,121,126,241

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 52: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

ALABAMACOASTAL INS RRG INC11668 $2,066,000 $30,978,933 $21,271,197 $115 ($2,819) ($6,446)$21,671,455 $7,241,478 AL

$21,671,455 $2,066,000 $30,978,933 $21,271,197 $115 ($2,819) ($6,446)$7,241,478SUBTOTAL ALABAMA x

ARIZONAADVANCED PHYSICIANS INS RRG INC12166 $82,376 $88,859 $1,303,344 $0 $0 $0$0 $6,483 AZ

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 $5,415,974 $12,651,628 $10,926,083 ($884) ($168) ($849)$6,488,545 $747,109 AZ

AMERICAN ASSOC OF OTHODONTISTS RRG10232 $3,413,423 $25,301,138 $8,138,389 $0 ($3,701) ($4,351)$19,965,154 $1,922,561 AZ

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 $16,756,079 $60,555,573 $23,391,346 $0 ($988) $48$42,589,145 $1,210,349 AZ

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 $1,784,494 $8,593,226 $5,710,618 ($550) ($924) ($1,821)$6,435,151 $373,581 AZ

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 $267,168 $830,391 $2,831,520 $95 ($143) ($205)$532,939 $30,284 AZ

ELITE TRANSPORTATION RRG INC10125 $1,088,170 $11,643,226 $1,882,437 ($8) $71 $21$5,539,908 $5,015,148 AZ

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 $885,592 $2,099,723 $2,037,223 $219 ($233) ($186)$999,971 $214,160 AZ

MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP

12576 $0 $0 $0 AZ

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 $673,378 $8,578,708 $1,468,840 ($189) $308 $110$961,661 $6,943,669 AZ

OLYMPIA RISK RETENTION GROUP, INC.13062 $208,179 $1,522,988 $580,787 $186 ($28) $0$1,226,871 $87,938 AZ

ORANGE COUNTY MEDICAL RECIP INS RRG12183 $289,875 $2,474,659 $2,687,175 $1 ($585) ($809)$2,101,332 $83,452 AZ

PHP RISK RETENTION GROUP, LIMITED12995 $0 $973 $952 AZ

RED ROCK RISK RETENTION GROUP, INC.13736 $590,156 $7,029,217 $6,519,227 ($1,551) $0 $0$6,024,789 $414,272 AZ

RESTORATION RISK RETENTION GROUP, INC.12209 $4,444,314 $29,626,247 $13,734,605 $105 ($1,691) ($2,641)$21,065,828 $4,116,105 AZ

WESTERN INS RRG INC11978 $0 $25,500 $534,135 $0 $0 ($197)$0 $25,500 AZ

$113,931,294 $35,899,178 $171,021,083 $81,745,729 ($2,576) ($7,109) ($9,928)$21,190,611SUBTOTAL ARIZONA x

COLORADONATIONAL HOME INSURANCE CO RRG44016 $23,483,551 $38,108,673 $16,001,568 $519 ($58) $651$5,820,750 $8,804,372 CO

WESTERN PACIFIC MUT INS CO RRG40940 $22,096,829 $48,228,930 $82,074,085 ($289) ($8,590) ($11,122)$25,316,991 $815,110 CO

$31,137,741 $45,580,380 $86,337,603 $98,075,653 $230 ($8,648) ($10,471)$9,619,482SUBTOTAL COLORADO x

DISTRICT OF COLUMBIAAEGIS HEALTHCARE RRG, INC.12252 $393,424 $2,093,300 $1,267,915 $0 ($273) ($373)$1,548,359 $151,517 DC

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 $1,168,717 $8,526,744 $7,690,126 ($983) ($1,808) ($2,623)$5,578,000 $1,780,027 DC

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 $30,172 $78,120 $1,452,098 $0 $40,878 $40,878$12,673 $35,275 DC

CARE RRG, INC.11825 $517,902 $6,883,299 $4,626,423 $1 ($95) ($482)$4,751,774 $1,613,623 DC

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP

12373 $1,224,105 $37,098,796 $31,054,826 ($3) ($600) ($81)$6,909,340 $28,965,351 DC

CMIC RISK RETENTION GROUP13756 $266,010 $433,847 $3,125,286 $0 $40,878 $40,878$7,671 $160,166 DC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 53: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

DUBOIS MEDICAL RRG11842 $982,916 $3,195,643 $3,738,638 ($27) $45 $114$2,193,353 $19,374 DC

FAIRWAY PHYSICIANS INS CO RRG11840 $6,572,955 $25,241,633 $4,934,596 $6,155 ($549) $1,476$14,982,565 $3,686,113 DC

GLOBAL INTL INS CO INC A RRG10991 $0 $613,359 $18,248,553 $0 $0 $0$0 $613,359 DC

HEALTH CARE CAS RRG INC12236 $4,649,016 $45,628,210 $1,624,059 ($273) ($316) ($867)$28,848,461 $12,130,733 DC

HEALTH NETWORK PROVIDERS MUT INS CO11813 $928,732 $5,037,716 $2,548,536 ($158) ($788) ($1,216)$2,999,034 $1,109,950 DC

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 $18,957,677 $142,221,591 $8,501,515 ($1) ($120) $164$106,418,694 $16,845,220 DC

INTERMODAL INSURANCE COMPANY, RRG11824 $1,768,477 $5,584,427 $3,030,692 ($14) ($546) ($920)$3,642,703 $173,247 DC

LIFE SERVICES NETWORK RECIP INS RRG11958 $308,894 $2,245,490 $5,402,764 ($45) ($100) ($134)$1,574,605 $361,991 DC

MEDPRO RRG RISK RETENTION GROUP13589 $8,555,364 $24,436,222 $2,856,765 ($8) ($1) $0$9,737,584 $6,143,274 DC

MEDSTAR LIABILITY LTD INS CO INC RRG10124 $560,159 $4,737,357 $1,060,245 ($539) ($312) ($209)$3,711,881 $465,317 DC

NATIONAL ASSISTED LIVING RRG, INC.11806 $795,837 $4,120,928 $2,743,679 ($835) ($383) ($1,004)$2,850,855 $474,236 DC

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)

10234 $1,533,839 $1,749,009 $7,741,662 $198 ($320) ($531)$20,000 $195,170 DC

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP

13792 $2,607,763 $4,667,921 $5,293,881 $0 $0 $0$113,553 $1,946,605 DC

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG

12275 $2,765,224 $11,140,207 $3,711,998 $856 ($105) ($379)$8,321,392 $53,591 DC

NJ CAR RISK RETENTION GROUP12581 $0 $0 $0 DC

OCEAN RRG INC10158 $1,963,619 $9,939,986 $577,256 $1,426 $1,585 $2,149$7,756,455 $219,912 DC

PCH MUTUAL INSURANCE COMPANY, RRG11973 $1,420,356 $6,428,112 $2,462,685 $0 ($842) $2,180$4,876,573 $131,183 DC

PINELANDS INS CO RRG INC12198 $406,612 $2,842,652 $771,529 $41 $1,040 $1,513$1,716,217 $719,823 DC

PINNACLE RRG INC11858 $0 $193,391 $2,394,844 ($98) ($286) ($630)$94,525 $98,866 DC

PROBUILDERS SPECIALTY INS CO RRG11671 $8,246 $139,001,832 $14,802,861 ($1) $765 ($2,206)$135,053,490 $3,940,096 DC

REGIONAL HEALTH INS CO RRG12010 $0 $1,624,195 $416,102 ($17) $46 $12$1,520,703 $103,492 DC

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.

12524 $424,067 $4,972,900 $478,517 $47 ($148) ($246)$4,219,356 $329,477 DC

SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG

13571 $0 $24 $0 DC

SIGMA RRG, INC.13557 $475,356 $5,203,705 $3,872,317 ($28) ($461) ($1,026)$4,623,214 $105,135 DC

SPIRIT MOUNTAIN INS CO RRG INC10754 $989,527 $3,741,183 $2,694,127 ($1,001) ($1,379) ($1,198)$1,858,368 $893,288 DC

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 $0 $591,974 $1,932,896 $1 $0 $0$580,755 $11,219 DC

$366,522,153 $60,274,966 $510,273,749 $151,057,391 $4,694 $75,829 $75,239$83,476,630SUBTOTAL DISTRICT OF COLUMBIA x

DELAWAREDELAWARE PROFESSIONAL INSURANCE CO43125 $335,071 $6,803,755 $3,280,968 ($82) ($2,472) ($2,497)$6,346,922 $121,762 DE

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 54: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

FEDERAL MOTOR CARRIERS RISK RETENTION GROUP, INC.

12938 $0 ($1,153) $387 DE

INDEMNITY INSURANCE CORPORATION, RRG12018 $10,345,574 $26,093,201 $8,071,905 ($2,839) $916 $2,724$12,442,760 $3,304,867 DE

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP

12554 $680,578 $2,493,591 $1,259,717 $0 ($87) ($502)$1,216,647 $596,366 DE

MARATHON FIN INS CO INC RRG11117 $788,601 $12,955,020 $1,988,128 $211 ($175) ($152)$95,000 $12,071,419 DE

SUNLAND RISK RETENTION GROUP, INC.14026 $97,777 $1,870,949 $1,049,716 $0 $40,878 $40,878$160,334 $1,612,838 DE

UNITED CONTRACTORS INS CO INC RRG12280 $2,185,298 $12,139,785 $12,229,699 $1,380 $6,201 $7,375$9,866,913 $87,574 DE

$30,128,576 $14,432,899 $62,356,301 $27,880,133 ($1,330) $44,108 $48,213$17,794,826SUBTOTAL DELAWARE x

FLORIDAPONCE DE LEON LTC RRG, INC.11809 $2,178,124 $9,136,443 $7,363,478 $0 $1,096 ($613)$5,957,791 $1,000,528 FL

$5,957,791 $2,178,124 $9,136,443 $7,363,478 $0 $1,096 ($613)$1,000,528SUBTOTAL FLORIDA x

GEORGIACHATTAHOCHEE RRG CAPTIVE INS CO11065 $419,259 $3,067,507 $2,192,128 $287 ($436) ($614)$2,555,511 $92,737 GA

JOLIET AREA RRG CAPTIVE INS CO12159 $510,488 $6,167,771 $2,206,621 ($613) ($338) $39$4,532,250 $1,125,033 GA

$7,087,761 $929,747 $9,235,278 $4,398,749 ($326) ($774) ($575)$1,217,770SUBTOTAL GEORGIA x

HAWAIIALLEGIANT INS CO INC A RRG11965 $0 $7,178,164 $4,216,416 $0 $20 $128$5,507,109 $1,671,055 HI

ATTORNEYS INSURANCE MUTUAL RRG INC22670 $2,455,543 $10,933,807 $8,727,067 $13 $372 $381$7,587,634 $890,630 HI

CALIFORNIA HEALTHCARE INS CO INC RRG44504 $7,750,199 $72,179,835 $40,480,512 ($986) ($8,833) ($15,575)$56,655,469 $7,774,167 HI

CLINIC MUTUAL INSURANCE CO RRG43770 $31,182 $140,430 $6,643,277 ($204) ($101) $2$59,003 $50,245 HI

COLLEGE LIABILITY INS CO A RECIP RRG44598 $1,750,905 $4,320,632 $8,161,582 $389 ($55) ($764)$2,534,797 $34,930 HI

CONTRACTORS INS CO OF NORTH AMER RRG11603 $914,295 $14,206,613 $22,176,928 $1,323 ($5,461) ($11,149)$12,972,524 $319,794 HI

FIRST AUTOMOTIVE INS RRG INC10619 $0 $0 $0 HI

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 $0 $0 $1,010,133 $0 $0 $0$0 $0 HI

HEALTH PROVIDERS INS RECIPROCAL RRG10080 $4,466,468 $30,164,539 $44,124,284 $0 ($5,044) ($8,713)$24,960,157 $737,914 HI

MEDAMERICA MUTUAL RRG INC26257 $4,096,861 $44,147,554 $25,496,123 $0 ($3,020) ($4,329)$28,766,083 $11,284,610 HI

NATIONAL GUARDIAN RRG INC36072 $712,392 $11,358,054 $5,115,953 ($600) ($1,718) ($3,888)$9,856,970 $788,692 HI

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP

13582 $776,294 $2,546,026 $3,402,181 ($1,032) ($342) $0$1,700,358 $69,374 HI

PROFESSIONAL MEDICAL INS RRG INC10840 $0 $7,982 $325,286 $0 $0 $0$0 $7,982 HI

RESIDENTIAL INS CO INC A RRG10691 $1,018,471 $1,764,139 $881,507 ($44) $12 ($58)$371,173 $374,495 HI

SENTINEL ASSUR RRG INC12005 $2,079,939 $6,484,178 $10,418,268 ($465) ($3,597) ($4,198)$4,295,242 $108,997 HI

UV INSURANCE RISK RETENTION GROUP, INC.13988 $73,269 $151,229 $502,786 $0 $0 $0$60,291 $17,669 HI

$155,326,810 $26,125,818 $205,583,182 $181,682,303 ($1,606) ($27,767) ($48,163)$24,130,554SUBTOTAL HAWAII x

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 55: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

IOWAAMERICAN FEED INDUSTRY INS CO RRG44202 $0 $2,394,119 $3,507,912 ($551) ($868) ($1,332)$2,255,815 $138,304 IA

$2,255,815 $0 $2,394,119 $3,507,912 ($551) ($868) ($1,332)$138,304SUBTOTAL IOWA x

ILLINOISOMS NATL INS CO RRG44121 $52,450,201 $224,028,284 $129,561,475 $83 ($11,121) ($20,997)$162,250,947 $9,327,136 IL

$162,250,947 $52,450,201 $224,028,284 $129,561,475 $83 ($11,121) ($20,997)$9,327,136SUBTOTAL ILLINOIS x

INDIANAAGRI INSURANCE EXCHANGE RRG28380 $0 $2,175,871 $10,286,302 ($280) ($144) ($302)$1,718,000 $457,871 IN

COMMUNITY BLOOD CENTERS EXCH RRG13893 $2,056,878 $12,010,120 $12,108,885 ($1,250) ($1,579) ($4,554)$6,882,792 $3,070,450 IN

$8,600,792 $2,056,878 $14,185,991 $22,395,187 ($1,530) ($1,723) ($4,856)$3,528,321SUBTOTAL INDIANA x

KENTUCKYARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP

13580 $320,546 $665,875 $1,588,050 $0 $0 $0$112,500 $232,829 KY

DOCTORS & SURGEONS NATIONAL RRG13018 $1,505,831 $4,438,568 $2,129,986 ($40) $357 $199$2,540,635 $392,102 KY

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 $2,911,945 $30,855,073 $18,355,076 $706 ($4,185) ($292)$27,744,735 $198,393 KY

KENTUCKY HOSPITAL INS CO RRG11939 $919,991 $11,594,245 $9,668,826 ($1,180) ($617) ($4,347)$8,265,479 $2,408,775 KY

$38,663,349 $5,658,313 $47,553,761 $31,741,938 ($514) ($4,445) ($4,440)$3,232,099SUBTOTAL KENTUCKY x

MISSOURIPREFERRED PHYSICIANS MEDICAL RRG44083 $5,931,798 $106,284,216 $80,607,132 ($2,001) ($8,067) ($16,075)$74,070,964 $26,281,454 MO

$74,070,964 $5,931,798 $106,284,216 $80,607,132 ($2,001) ($8,067) ($16,075)$26,281,454SUBTOTAL MISSOURI x

MONTANAAMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 $27,524 $440,521 $750,715 ($14) ($29) ($28)$95,171 $317,826 MT

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG

11534 $356,705 $8,870,712 $2,939,397 $943 $371 ($67)$6,671,123 $1,842,884 MT

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC

14005 $95,207 $164,611 $508,731 $0 $40,878 $40,878$12,575 $56,829 MT

ATTORNEYS LIAB PROTECTION SOC RRG32450 $12,694,514 $61,087,589 $31,073,935 ($903) ($5,498) ($6,173)$43,969,074 $4,424,001 MT

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.

13791 $220,705 $686,749 $938,209 $0 $0 $0$116,464 $349,580 MT

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP

13784 $0 $77,958 $600,780 ($6) $0 $0$31,623 $46,335 MT

CROSSFIT RISK RETENTION GROUP, INC.13720 $235,172 $464,444 $651,346 $0 $0 $0$89,879 $139,393 MT

GUARDIAN RRG INC11696 $269,251 $2,178,032 $3,163,998 $0 ($343) ($426)$1,850,736 $58,045 MT

MD RISK RETENTION GROUP, INC.12355 $0 $7,542,792 $5,766,573 ($64) $1,138 $1,762$7,341,609 $201,183 MT

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 $5,345,663 $60,274,881 $32,958,002 $373 ($7,950) ($7,598)$51,848,901 $3,080,317 MT

NATIONAL CONTRACTORS INS CO INC RRG12293 $2,060,644 $14,421,604 $4,138,538 $341 ($467) ($153)$11,521,561 $839,399 MT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 56: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.

12845 $692,377 $3,352,389 $782,034 $143 ($266) ($125)$2,233,507 $426,505 MT

PHYSICIANS RISK RETENTION GROUP LLC13046 $224,356 $1,257,653 $645,307 $248 $208 ($65)$1,012,875 $20,422 MT

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC

12497 $6,897,439 $40,726,525 $8,241,380 $187 $782 $704$15,640,847 $18,188,239 MT

PROFESSIONALS RISK RETENTION GROUP, INC.13067 $840,547 $2,213,401 $1,188,645 $1 ($135) ($25)$467,656 $905,198 MT

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 $504,823 $1,073,450 $818,303 $0 $0 $0$50,715 $517,912 MT

$142,954,316 $30,464,927 $204,833,311 $95,165,893 $1,249 $28,689 $28,684$31,414,068SUBTOTAL MONTANA x

NEBRASKALENDERS PROTECTION ASSUR CO RRG11500 $0 $182,360 $2,386,791 $0 $0 $0$0 $182,360 NE

$0 $0 $182,360 $2,386,791 $0 $0 $0$182,360SUBTOTAL NEBRASKA x

NEVADAAGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP

13606 $112,500 $841,873 $718,788 ($512) ($300) ($43)$680,737 $48,636 NV

ARCOA RISK RETENTION GROUP, INC.13177 $0 $7,230,465 $2,515,308 $971 $1,434 ($223)$6,917,358 $313,107 NV

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 $12,837,602 $14,036,534 $7,625,153 $0 $0 $0$0 $1,198,932 NV

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP

13010 $1,007,608 $1,119,353 $1,077,926 $12 $0 $4$19,307 $92,438 NV

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)

12003 $3,047,735 $11,364,908 $6,022,037 ($240) $929 ($1,167)$7,641,922 $675,251 NV

EMERGENCY PHYSICIANS INS CO RRG11714 $5,875,542 $32,098,128 $7,493,546 $1,061 ($203) $455$23,162,301 $3,060,285 NV

GOLDEN INS CO RRG11145 $2,400,486 $3,010,404 $1,814,663 $129 $781 $560$484,043 $125,875 NV

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 $45,012 $170,469 $565,223 $0 $40,878 $40,878$5,641 $119,816 NV

HOME CONSTRUCTION INS CO RRG11950 $62,941 $4,549,521 $1,828,495 ($375) ($184) ($590)$3,217,232 $1,269,348 NV

J.M. WOODWORTH RRG, INC.12594 $3,799,815 $15,116,690 $4,569,773 $0 $38 $153$8,320,282 $2,996,593 NV

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 $4,287,363 $8,466,213 $2,651,062 $264 $233 ($115)$3,411,826 $767,024 NV

LEWIS & CLARK LTC RRG, INC11947 $3,997,351 $20,601,406 $3,702,641 $1 $1,943 $1,071$12,132,866 $4,471,189 NV

NATIONAL BUILDERS & CONTRACTORS INS12235 $148,238 $3,812,701 $1,664,073 $116 $1,306 $840$3,333,005 $331,458 NV

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 $404,673 $2,278,481 $875,358 ($216) ($696) ($843)$1,806,993 $66,815 NV

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.

13810 $21,266 $632,435 $76,034 $0 $0 $0$23,601 $587,568 NV

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 $215,829 $1,890,791 $548,202 $0 $0 $0$115,477 $1,559,485 NV

PHYSICIANS COMPLIANCE LIABILITY INSURANCE COMPANY, RRG

12350 $0 $0 $0 NV

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 $1,721,028 $5,734,644 $1,314,921 $1,018 ($423) ($631)$3,744,739 $268,877 NV

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 $2,966,349 $8,165,700 $2,610,617 $353 ($1,428) ($398)$3,747,891 $1,451,460 NV

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 57: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

PROAIR RISK RETENTION GROUP, INC.13179 $60,623 $137,027 $538,844 ($48) ($35) ($1)$36,958 $39,446 NV

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP

12988 $1,411,573 $4,649,325 $2,968,888 $316 $180 ($55)$3,174,610 $63,142 NV

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.

13993 $17,446 $10,898 $514,382 $0 $0 $0$0 ($6,548) NV

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP

12915 $405,076 $1,114,605 $1,218,344 $68 ($410) ($151)$636,084 $73,445 NV

$82,612,873 $44,846,056 $147,032,571 $52,914,278 $2,918 $44,043 $39,744$19,573,642SUBTOTAL NEVADA x

OKLAHOMAVEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP

11063 $403,289 $654,596 $2,006,255 $0 $250 $0$250,000 $1,307 OK

$250,000 $403,289 $654,596 $2,006,255 $0 $250 $0$1,307SUBTOTAL OKLAHOMA x

SOUTH CAROLINAALLIED SERVICES RISK RETENTION GROUP12013 $759,863 $3,078,747 $2,511,296 $120 $591 $441$2,160,285 $158,599 SC

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.

12224 $0 $756,103 $1,390,626 ($24) $641 $451$403,581 $352,522 SC

CAREGIVERS UNITED LIAB INS CO RRG11544 $2,461,943 $16,345,943 $16,220,453 $919 ($2,439) ($4,886)$13,787,219 $96,781 SC

CENTRAL PA PHYSICIANS RRG INC11694 $7,635,487 $39,694,057 $18,297,972 $4,962 ($1,728) ($5,856)$31,160,760 $897,810 SC

CLARIAN HLTH RRG INC11992 $0 $10,278,404 $2,391,450 $528 $0 $0$0 $10,278,404 SC

COMMUNITIES OF FAITH RRG INC11807 $379,235 $1,945,696 $11,246,240 ($117) ($54) ($713)$1,392,229 $174,232 SC

CONTINUING CARE RRG, INC.11798 $326,486 $2,108,086 $2,987,136 ($52) $0 ($10)$1,400,704 $380,896 SC

EMERGENCY MEDICINE RRG INC12015 $13,586 $3,602,540 $8,174,805 $2,016 ($19,909) ($16,778)$2,683,761 $905,193 SC

FAITH AFFILIATED RRG INC11698 $651,029 $3,064,144 $4,879,919 $252 $541 $320$2,305,706 $107,409 SC

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 $5,323,531 $16,973,150 $4,282,568 ($183) $1,109 $1,968$10,866,192 $783,427 SC

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.

12512 $212,315 $1,694,501 $996,318 $707 $680 $898$1,388,807 $93,379 SC

GRACO RRG INC11581 $61,806 $906,940 $527,493 $0 $0 $0$0 $845,134 SC

GULF BUILDERS RRG INC11970 $0 ($11) ($3) SC

GUTHRIE RRG12014 $7,022,587 $40,317,632 $13,993,167 $5,696 ($368) ($211)$32,994,351 $300,694 SC

HEALTHCARE PROVIDERS INS CO RRG11683 $4,239,096 $26,083,759 $34,763,220 $41 ($4,698) ($6,862)$18,982,760 $2,861,903 SC

HERITAGE WARRANTY INS RRG INC11097 $629,707 $767,139 $759,071 ($161) ($67) $0$8,150 $129,282 SC

JAMESTOWN INS CO RRG11589 $1,221,540 $4,598,980 $1,356,366 $18 ($434) ($193)$2,945,201 $432,239 SC

LVHN RRG11684 $0 $38,780,077 $5,000,000 $3,992 $0 $0$0 $38,780,077 SC

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 $793,868 $3,255,356 $4,925,674 ($90) ($383) ($490)$1,742,635 $718,853 SC

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.

12529 $0 $2,244,178 $2,942,215 $0 $0 $0$0 $2,244,178 SC

NEW STAR RISK RETENTION GROUP, INC.12532 $847,617 $5,422,640 $3,976,520 $51 $1,567 $137$2,028,642 $2,546,381 SC

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 58: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

NOVUS INS CO RRG10752 $2,235,732 $2,155,120 $3,514,818 $3,664 $3,400 $1,480$14,822,136 ($14,902,748) SC

OCEANUS INS CO A RRG12189 $14,800,129 $54,566,643 $12,395,590 $4,830 ($1,072) ($1,073)$32,779,286 $6,987,228 SC

PHOEBE RECIPROCAL RRG12004 $108,863 $1,462,417 $3,013,348 $1 ($329) ($584)$1,326,773 $26,781 SC

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP

12507 $5,383,058 $37,519,962 $9,531,684 $557 ($2,765) ($3,771)$17,929,585 $14,207,319 SC

PHYSICIANS SPECIALTY LTD RRG11513 $0 $4,934,144 $5,384,427 $0 ($459) ($1,533)$3,582,778 $1,351,366 SC

RED CLAY RISK RETENTION GROUP, INC.13078 $417,338 $2,024,298 $2,520,233 $1 ($170) ($164)$1,491,135 $115,825 SC

REPUBLIC RRG12019 $0 ($18) ($85) SC

SAINT LUKE'S HLTH SYSTEM RRG11712 $3,212,297 $9,895,771 $13,236,588 ($24) ($1,168) ($1,838)$4,622,454 $2,061,020 SC

SAMARITAN RISK RETENTION GROUP, INC.12511 $3,635,173 $10,359,525 $9,632,264 ($1,804) ($1,875) ($1,237)$6,088,681 $635,671 SC

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 $2,943,038 $36,711,815 $8,360,176 $1,889 $3,388 $2,146$25,175,771 $8,593,006 SC

ST CHARLES INS CO RRG11114 $9,689 $5,453,763 $4,938,315 ($6,792) $0 $0$4,792,153 $651,921 SC

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC

13135 $0 $163,485 $575,463 $0 $0 $0$0 $163,485 SC

SUPERIOR INS CO RRG11669 $4,314,776 $19,714,522 $5,037,923 $247 $1,951 $1,838$10,978,679 $4,421,067 SC

TITAN INS CO INC RRG11153 $5,154,007 $5,979,772 $23,922,551 $0 $0 $0$0 $825,765 SC

$249,840,414 $74,793,796 $412,859,309 $243,685,889 $21,244 ($24,079) ($36,608)$88,225,099SUBTOTAL SOUTH CAROLINA x

TENNESSEEPARATRANSIT INSURANCE COMPANY, RRG44130 $1,329,064 $13,370,912 $8,554,794 $0 ($1,437) ($2,628)$11,223,185 $818,663 TN

$11,223,185 $1,329,064 $13,370,912 $8,554,794 $0 ($1,437) ($2,628)$818,663SUBTOTAL TENNESSEE x

TEXASAMERICAN CONTRACTORS INS CO RRG12300 $0 $12,858,008 $6,629,838 $0 $0 $0$0 $12,858,008 TX

$0 $0 $12,858,008 $6,629,838 $0 $0 $0$12,858,008SUBTOTAL TEXAS x

UTAHLIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY

12627 $2,683,342 $5,435,254 $945,136 $537 $157 $717$2,651,136 $100,776 UT

$2,651,136 $2,683,342 $5,435,254 $945,136 $537 $157 $717$100,776SUBTOTAL UTAH x

VIRGINIAHOW INSURANCE COMPANY, A RISK RETENTION GROUP

41246 $0 $12,564,610 $110,880,407 ($2,026) $21,133 $38,496$930,837 $11,633,773 VA

$930,837 $0 $12,564,610 $110,880,407 ($2,026) $21,133 $38,496$11,633,773SUBTOTAL VIRGINIA x

VERMONTACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 $210,834 $1,829,778 $2,169,257 $0 $0 $0$115,695 $1,503,249 VT

ACBG RISK RETENTION GROUP, LLC12557 $369,770 $2,336,401 $1,044,556 $0 ($202) ($254)$1,759,048 $207,583 VT

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP

13677 $114,939 $1,346,258 $2,943,627 $0 $0 $0$435,667 $795,652 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 59: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

ALLIANCE OF NONPROFITS FOR INS RRG10023 $6,905,283 $27,196,478 $25,660,500 ($168) ($1,244) ($4,258)$17,423,829 $2,867,366 VT

AMERICAN EXCESS INS EXCHANGE RRG10903 $18,039,613 $196,904,487 $202,877,707 ($20,745) ($29,457) ($46,367)$160,428,176 $18,436,698 VT

AMERICAN SAFETY RRG INC25448 $545,402 $9,369,157 $5,688,397 $0 $1,348 $1,796$5,991,501 $2,832,254 VT

AMERIGUARD RRG INC12171 $21,426 $6,085,300 $5,953,359 ($483) ($1,911) ($1,981)$4,836,988 $1,226,886 VT

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 $5,858,221 $76,875,684 $55,135,200 ($1,155) ($992) $166$48,356,909 $22,660,554 VT

BAR VERMONT RISK RETENTION GROUP INC10174 $0 $6,273,587 $12,408,644 ($943) ($714) ($975)$4,128,595 $2,144,992 VT

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 $1,260,806 $20,282,252 $3,673,944 ($466) ($29) $120$13,250,994 $5,770,452 VT

BROADLINE RISK RETENTION GROUP, INC.13788 $13,282,832 $65,209,949 $18,420,555 ($399) $0 $0$50,593,701 $1,333,416 VT

CASSATT RISK RETENTION GROUP INC10808 $75,000 $2,993,125 $3,678,638 ($12) ($434) ($191)$466,661 $2,451,464 VT

CHC CAS RRG11531 $2,233,360 $27,080,190 $9,053,981 ($955) ($2,802) $2,078$24,157,756 $689,074 VT

CIMARRON INSURANCE EXCHANGE RRG12308 $387,434 $4,775,174 $2,020,920 $593 $69 $35$3,618,633 $769,107 VT

CIRCLE STAR INS CO RRG11839 $86,510 $2,018,908 $1,469,709 $0 $0 $0$199,346 $1,733,052 VT

CLAIM PROFESSIONALS LIAB INS CO RRG12172 $181,109 $1,308,684 $1,382,772 $376 ($23) $199$700,492 $427,083 VT

COLLEGE RISK RETENTION GROUP, INC.13613 $4,319,846 $15,380,874 $3,588,185 $404 ($164) $0$4,995,154 $6,065,874 VT

COLUMBIA NATIONAL RRG INC10803 $466,440 $686,243 $1,093,570 $0 $0 $0$0 $219,803 VT

COMCARE PRO INS RECIPROCAL RRG11864 $933,921 $1,951,502 $2,411,149 $340 ($170) ($68)$832,559 $185,022 VT

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 $4,155,296 $106,634,455 $12,552,687 $1,010 $17,393 $19,524$55,663,306 $46,815,853 VT

COMMUNITY HOSPITAL RRG11259 $7,653,694 $125,369,434 $61,518,432 $564 ($5,330) ($8,507)$110,138,441 $7,577,299 VT

CONSORTIUM RRG11528 $0 $1,295,503 $7,710,554 ($11) ($829) ($1,655)$1,270,287 $25,216 VT

CONSUMER SPECIALTIES INS CO RRG10075 $258,908 $2,622,195 $3,376,608 ($16) ($410) ($256)$1,980,276 $383,011 VT

CONTROLLED RISK INS CO OF VT RRG10341 $4,150,084 $27,959,821 $28,261,965 $0 ($1,191) ($1,405)$20,123,236 $3,686,501 VT

CPA MUTUAL INS CO OF AMERICA RRG10164 $1,749,575 $13,318,815 $9,643,236 $158 ($785) ($1,194)$10,267,434 $1,301,806 VT

CRUDEN BAY RRG INC11676 $781,370 $9,697,017 $1,870,206 $279 ($1,712) ($2,513)$8,527,791 $387,856 VT

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 $1,177,794 $4,445,778 $1,947,913 ($36) $0 $0$1,680,781 $1,587,203 VT

EASTERN DENTISTS INS CO RRG10115 $5,475,785 $29,802,812 $14,971,887 ($3,534) ($3,388) ($4,770)$19,851,000 $4,476,027 VT

EVERGREEN USA RRG INC38466 $1,887,038 $9,874,592 $5,484,780 $98 $1,209 $60$7,290,531 $697,023 VT

FIRST MEDICAL INS CO RRG11278 $8,846,607 $55,761,196 $55,963,834 $17 ($8,099) ($13,745)$46,005,202 $909,387 VT

FRANKLIN CASUALTY INS CO RRG10842 $2,484,753 $38,857,411 $2,245,980 ($41) ($458) ($633)$6,011,853 $30,360,805 VT

FREDERICKSBURG PROFESSIONAL RISK EXC12016 $552,145 $8,588,306 $18,145,814 ($262) ($1,450) ($2,109)$7,956,225 $79,936 VT

GEISINGER INS CORP RRG12000 $730,651 $7,368,103 $11,090,327 $0 $0 $0$500,000 $6,137,452 VT

GENERAL EASTERN SKI INS RRG INC10163 $0 $872,001 $2,053,799 $0 $42 $714$586,644 $285,357 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 60: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC UnearnedPremiumReserves

TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

GLOBAL HAWK INSURANCE COMPANY RRG11948 $2,833,489 $5,390,539 $3,569,090 $118 ($431) ($465)$2,443,126 $113,924 VT

GREEN HILLS INS CO RRG11941 $3,307,540 $11,744,246 $11,188,787 ($126) ($1,992) ($1,773)$7,229,720 $1,206,986 VT

HAMDEN ASSURANCE RRG, INC.13057 $0 $67,642,149 $1,470,916 $0 $0 $0$0 $67,642,149 VT

HEARTLAND HEALTHCARE RECIP RRG11998 $808,231 $6,927,691 $7,340,044 ($50) ($999) ($1,340)$5,947,043 $172,417 VT

HOUSING AUTHORITY RRG INC26797 $15,740,396 $133,670,213 $172,750,930 ($19,391) ($27,172) ($62,100)$108,868,617 $9,061,200 VT

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP

11268 $11,733,868 $79,715,287 $211,771,721 ($8,712) ($21,845) ($39,565)$56,188,530 $11,792,889 VT

INDIANA HEALTHCARE RECIP RRG11692 $1,376,165 $18,390,181 $7,930,927 ($39) ($896) ($1,772)$14,582,611 $2,431,405 VT

LAKE STREET RRG INC11803 $72,314 $973,723 $1,709,863 $10 ($544) ($516)$668,072 $233,337 VT

MCIC VERMONT INC RRG10697 $0 ($1) ($3) VT

MENTAL HEALTH RISK RETENTION GROUP44237 $2,329,494 $14,299,154 $9,950,158 ($1,580) ($2,550) ($4,935)$10,394,647 $1,575,013 VT

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP

11999 $694,935 $7,918,742 $1,481,448 $332 ($1,554) ($1,772)$4,334,378 $2,889,429 VT

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 $229,508 $558,499 $1,010,629 ($249) $0 $0$270,833 $58,158 VT

MOUNTAIN LAUREL RRG INC11547 $3,737,199 $13,996,235 $2,095,314 $370 ($748) ($673)$9,216,592 $1,042,444 VT

NATIONAL CATHOLIC RRG10083 $5,890,910 $48,261,549 $15,173,149 $2,705 $266 ($812)$39,192,593 $3,178,046 VT

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP

13059 $938,539 $6,013,398 $1,652,964 ($1) $668 ($28)$3,763,283 $1,311,576 VT

OASIS RECIPROCAL RISK RETENTION GROUP13644 $1,880,033 $6,556,895 $1,696,094 $0 ($93) $0$2,734,329 $1,942,533 VT

OOIDA RISK RETENTION GROUP INC10353 $4,316,090 $36,470,090 $21,097,026 ($1,719) ($5,040) ($9,546)$14,766,238 $17,387,762 VT

OPHTHALMIC MUTUAL INS CO RRG44105 $23,906,766 $91,351,656 $137,764,917 $0 ($2,606) ($14,806)$58,013,926 $9,430,964 VT

ORDINARY MUTUAL A RRG CORP10171 $948,737 $18,970,488 $9,646,684 $1,381 ($1,855) ($2,991)$16,998,213 $1,023,538 VT

PACE RRG INC11575 $139,147 $18,407,613 $1,559,322 $27 $1,942 $5,150$10,144,859 $8,123,607 VT

PEACE CHURCH RRG INC11846 $757,366 $7,818,385 $13,234,621 ($1,275) ($1,676) ($3,683)$6,469,673 $591,346 VT

PELICAN INS RRG11587 $1,163,268 $4,995,452 $11,149,918 ($736) ($1,443) ($514)$2,945,894 $886,290 VT

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP

12918 $615,766 $3,253,678 $1,225,742 ($8) ($287) ($423)$2,530,882 $107,030 VT

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 $7,337,849 $25,950,782 $17,120,712 ($3,414) ($3,949) ($7,760)$16,902,395 $1,710,538 VT

PHYSICIANS REIMBURSEMENT RRG10934 $754,454 $15,814,169 $9,810,026 ($1,016) ($1,816) ($2,856)$14,967,745 $91,970 VT

PINE TREE INS RECIPROCAL RRG12348 $690,037 $9,310,489 $5,238,476 $224 $895 $2,551$6,646,126 $1,974,326 VT

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 $733,284 $2,630,301 $3,933,592 ($19) $166 $29$1,742,253 $154,764 VT

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 $21,036 $832,128 $1,234,205 $9 ($4) ($21)$69,295 $741,797 VT

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)

11350 $227,464 $1,524,806 $3,570,844 $1 $23 ($549)$1,270,531 $26,811 VT

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 61: Demotech, Inc. Analysis of Risk Retention Groups

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TotalLiabilities

Policyholders'Surplus

Loss and LAEReserve Position(000's omitted)

1-YearLoss and LAEDevelopment

(000's omitted)

2-YearLoss and LAEDevelopment

(000's omitted)

Losses and LAE Reserves

OtherLiabilities

Risk Retention Groups - Liabilities by StateState of

Domicile

SCHUYKILL CROSSING RECIPROCAL RRG11808 $709,620 $19,571,723 $4,991,480 $157 ($405) $44$17,032,981 $1,829,122 VT

SECURITY AMERICA RRG INC11267 $703,955 $1,851,440 $2,633,031 $151 $87 ($459)$697,981 $449,504 VT

ST LUKES HEALTH NETWORK INS CO RRG11688 $1,532,196 $32,937,757 $11,503,992 ($1,059) ($1,872) ($1,437)$31,335,378 $70,183 VT

STATES SELF-INSURERS RRG44075 $970,560 $15,336,272 $8,590,740 $0 $0 ($1,246)$9,673,144 $4,692,568 VT

STICO MUT INS CO RRG10476 $5,288,907 $9,257,334 $10,164,435 ($411) ($386) ($620)$3,766,230 $202,197 VT

TERRA INS CO RRG10113 $1,633,306 $10,923,879 $17,674,026 $735 $2,487 $3,240$5,500,458 $3,790,115 VT

THE HEALTHCARE UNDERWRITING CO RRG10152 $5,616,012 $35,785,126 $27,581,731 $3,193 ($298) ($1,835)$29,800,972 $368,142 VT

TITLE INDUSTRY ASSURANCE CO RRG10084 $361,037 $5,621,453 $1,831,570 $73 $52 ($499)$4,273,382 $987,034 VT

UNITED CENTRAL PA RRG11548 $966,570 $6,153,037 $14,439,004 $105 ($1,145) ($943)$5,022,390 $164,077 VT

UNITED EDUCATORS INS RRG INC10020 $59,053,869 $438,349,976 $236,775,879 $13,068 $1,490 $891$327,089,663 $52,206,444 VT

UNITED HOME INSURANCE CO A RRG10712 $2,716,342 $2,896,840 $1,560,383 $0 $0 $0$0 $180,498 VT

WARREN RRG INC11802 $498,052 $5,120,315 $2,672,217 $349 ($857) ($2,885)$4,520,820 $101,443 VT

WELLSPAN RRG11682 $1,569,500 $17,707,106 $6,131,574 $0 ($2,540) ($3,237)$16,033,734 $103,872 VT

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP

13154 $159,447 $475,101 $2,284,512 $0 $0 $0$269,849 $45,805 VT

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)

11796 $1,022,536 $13,431,583 $4,151,739 ($244) ($904) ($1,605)$6,420,002 $5,989,045 VT

$1,520,884,099 $271,182,240 $2,187,178,950 $1,637,877,124 ($42,428) ($119,565) ($227,953)$395,112,611SUBTOTAL VERMONT x

WEST VIRGINIAMOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.

12779 $1,619,465 $16,911,602 $8,779,829 ($2,015) ($1,811) ($1,846)$14,226,477 $1,065,660 WV

$14,226,477 $1,619,465 $16,911,602 $8,779,829 ($2,015) ($1,811) ($1,846)$1,065,660SUBTOTAL WEST VIRGINIA x

$3,043,178,785 $680,906,481 $4,493,250,426 $3,011,114,511 ($25,833) ($4,928) ($161,838)TOTAL - ALL RRGs $769,165,160

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 62: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios by State

ALABAMA

COASTAL INS RRG INC11668 2.22 1.02 1.46 0.28

2.22 1.02 1.46 0.28SUBTOTAL ALABAMA ARIZONA

ADVANCED PHYSICIANS INS RRG INC12166 0.00 0.00 0.07 0.25

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 3.31 0.59 1.16 0.66

AMERICAN ASSOC OF OTHODONTISTS RRG10232 1.59 2.45 3.11 0.63

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 1.47 1.82 2.59 1.06

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 1.72 1.13 1.50 0.48

CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG12167 6.68 0.19 0.29 0.32

ELITE TRANSPORTATION RRG INC10125 1.96 2.94 6.19 1.98

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 3.82 0.49 1.03 0.67

MIDWEST PROVIDER INSURANCE COMPANY, RRG12147 8.29 0.65 5.84 0.34

OLYMPIA RISK RETENTION GROUP, INC.13062 0.76 2.11 2.62 1.43

ORANGE COUNTY MEDICAL RECIP INS RRG12183 1.97 0.78 0.92 0.43

RED ROCK RISK RETENTION GROUP, INC.13736 2.21 0.92 1.08 0.34

RESTORATION RISK RETENTION GROUP, INC.12209 1.82 1.53 2.16 0.67

WESTERN INS RRG INC11978 0.00 0.00 0.05 0.03

1.86 1.39 2.09 0.74SUBTOTAL ARIZONA COLORADO

NATIONAL HOME INSURANCE CO RRG44016 8.61 0.36 2.38 0.00

WESTERN PACIFIC MUT INS CO RRG40940 5.01 0.31 0.59 0.03

5.69 0.32 0.88 0.02SUBTOTAL COLORADO DISTRICT OF COLUMBIA

AEGIS HEALTHCARE RRG, INC.12252 1.15 1.22 1.65 0.73

ATTORNEYS INS MUTUAL OF ALABAMA INC33677 2.67 0.73 1.11 0.27

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 113.73 0.01 0.05 0.00

CARE RRG, INC.11825 1.95 1.03 1.49 0.16

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 5.90 0.22 1.19 0.15

CMIC RISK RETENTION GROUP13756 426.26 0.00 0.14 0.04

DUBOIS MEDICAL RRG11842 3.14 0.59 0.85 0.28

FAIRWAY PHYSICIANS INS CO RRG11840 0.93 3.04 5.12 1.85

GLOBAL INTL INS CO INC A RRG10991 0.00 0.00 0.03 0.03

HEALTH CARE CAS RRG INC12236 0.56 17.76 28.10 1.22

HEALTH NETWORK PROVIDERS MUT INS CO11813 2.22 1.18 1.98 0.62

HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG (HEALTHCAP RRG)

11832 0.17 12.52 16.73 0.30

INTERMODAL INSURANCE COMPANY, RRG11824 0.19 1.20 1.84 0.81

LIFE SERVICES NETWORK RECIP INS RRG11958 4.67 0.29 0.42 0.28

MEDPRO RRG RISK RETENTION GROUP13589 0.52 3.41 8.55 0.17

MEDSTAR LIABILITY LTD INS CO INC RRG10124 1.00 3.50 4.47 1.02

NATIONAL ASSISTED LIVING RRG, INC.11806 2.25 1.04 1.50 0.47

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 462.12 0.00 0.23 0.04

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP13792 69.48 0.02 0.88 0.28

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 1.12 2.24 3.00 1.24

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 63: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios by State

OCEAN RRG INC10158 0.70 13.44 17.22 5.25

PCH MUTUAL INSURANCE COMPANY, RRG11973 1.59 1.98 2.61 0.80

PEDIATRICANS INS RRG OF AMER11772 1.78 1.02 1.08 -0.04

PINELANDS INS CO RRG INC12198 0.13 2.22 3.68 0.72

PINNACLE RRG INC11858 27.15 0.04 0.08 0.02

PROBUILDERS SPECIALTY INS CO RRG11671 0.13 9.12 9.39 0.01

REGIONAL HEALTH INS CO RRG12010 0.43 3.65 3.90 0.00

SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.12524 0.11 8.82 10.39 0.21

SIGMA RRG, INC.13557 1.74 1.19 1.34 0.00

SPIRIT MOUNTAIN INS CO RRG INC10754 3.09 0.69 1.39 0.69

VIRGINIA SENIOR CARE RISK RETENTION GROUP13786 3.78 0.30 0.31 0.00

0.69 2.42 3.37 0.31SUBTOTAL DISTRICT OF COLUMBIA DELAWARE

DELAWARE PROFESSIONAL INSURANCE CO43125 1.54 1.93 2.07 0.01

INDEMNITY INSURANCE CORPORATION, RRG12018 0.44 1.54 3.23 1.52

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 1.80 0.97 1.98 0.80

MARATHON FIN INS CO INC RRG11117 37.00 0.05 6.52 4.82

SUNLAND RISK RETENTION GROUP, INC.14026 10.93 0.15 1.78 0.36

UNITED CONTRACTORS INS CO INC RRG12280 2.06 0.81 0.99 0.27

1.43 1.08 2.24 0.96SUBTOTAL DELAWARE FLORIDA

PONCE DE LEON LTC RRG, INC.11809 2.42 0.81 1.24 0.39

2.42 0.81 1.24 0.39SUBTOTAL FLORIDA GEORGIA

CHATTAHOCHEE RRG CAPTIVE INS CO11065 1.96 1.17 1.40 0.75

JOLIET AREA RRG CAPTIVE INS CO12159 1.73 2.05 2.80 0.91

1.82 1.61 2.10 0.83SUBTOTAL GEORGIA HAWAII

ALLEGIANT INS CO INC A RRG11965 1.70 1.31 1.70 0.21

ATTORNEYS INSURANCE MUTUAL RRG INC22670 2.41 0.87 1.25 0.38

CALIFORNIA HEALTHCARE INS CO INC RRG44504 1.69 1.40 1.78 0.34

CLINIC MUTUAL INSURANCE CO RRG43770 109.15 0.01 0.02 0.01

COLLEGE LIABILITY INS CO A RECIP RRG44598 4.10 0.31 0.53 0.29

CONTRACTORS INS CO OF NORTH AMER RRG11603 2.70 0.58 0.64 0.06

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 0.00 0.00 0.00 0.00

HEALTH PROVIDERS INS RECIPROCAL RRG10080 2.79 0.57 0.68 0.26

MEDAMERICA MUTUAL RRG INC26257 2.21 1.13 1.73 0.64

NATIONAL GUARDIAN RRG INC36072 1.20 1.93 2.22 0.47

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 3.48 0.50 0.75 0.82

PROFESSIONAL MEDICAL INS RRG INC10840 0.00 0.00 0.02 0.00

RESIDENTIAL INS CO INC A RRG10691 6.56 0.42 2.00 0.00

SENTINEL ASSUR RRG INC12005 3.30 0.41 0.62 0.37

UV INSURANCE RISK RETENTION GROUP, INC.13988 8.83 0.12 0.30 0.53

2.22 0.85 1.13 0.32SUBTOTAL HAWAII

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 64: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios by State

IOWA

AMERICAN FEED INDUSTRY INS CO RRG44202 2.54 0.64 0.68 0.00

2.54 0.64 0.68 0.00SUBTOTAL IOWA ILLINOIS

OMS NATL INS CO RRG44121 1.83 1.25 1.73 0.51

1.83 1.25 1.73 0.51SUBTOTAL ILLINOIS INDIANA

AGRI INSURANCE EXCHANGE RRG28380 7.22 0.17 0.21 0.08

COMMUNITY BLOOD CENTERS EXCH RRG13893 3.20 0.57 0.99 0.20

4.00 0.38 0.63 0.15SUBTOTAL INDIANA KENTUCKY

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP13580 9.83 0.07 0.42 0.37

DOCTORS & SURGEONS NATIONAL RRG13018 2.07 1.19 2.08 1.68

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 1.61 1.51 1.68 0.40

KENTUCKY HOSPITAL INS CO RRG11939 2.38 0.85 1.20 0.17

1.83 1.22 1.50 0.41SUBTOTAL KENTUCKY MISSOURI

PREFERRED PHYSICIANS MEDICAL RRG44083 2.44 0.92 1.32 0.28

2.44 0.92 1.32 0.28SUBTOTAL MISSOURI MONTANA

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 0.92 0.13 0.59 0.06

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG11534 1.54 2.27 3.02 -0.26

ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC14005 43.50 0.02 0.32 0.18

ATTORNEYS LIAB PROTECTION SOC RRG32450 1.87 1.41 1.97 0.67

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 11.73 0.12 0.73 0.01

CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP13784 20.36 0.05 0.13 0.26

CROSSFIT RISK RETENTION GROUP, INC.13720 8.54 0.14 0.71 0.88

GUARDIAN RRG INC11696 2.40 0.58 0.69 0.34

MD RISK RETENTION GROUP, INC.12355 1.68 1.27 1.31 0.48

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 1.77 1.57 1.83 0.65

NATIONAL CONTRACTORS INS CO INC RRG12293 0.55 2.78 3.48 0.22

OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.12845 1.42 2.86 4.29 1.40

PHYSICIANS RISK RETENTION GROUP LLC13046 1.48 1.57 1.95 1.11

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 1.53 1.90 4.94 0.15

PROFESSIONALS RISK RETENTION GROUP, INC.13067 4.23 0.39 1.86 0.24

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 32.83 0.06 1.31 0.49

1.70 1.50 2.15 0.53SUBTOTAL MONTANA NEBRASKA

LENDERS PROTECTION ASSUR CO RRG11500 0.00 0.00 0.08 0.00

0.00 0.00 0.08 0.00SUBTOTAL NEBRASKA NEVADA

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 1.52 0.95 1.17 0.63

ARCOA RISK RETENTION GROUP, INC.13177 1.24 2.75 2.87 1.74

AUTOMOTIVE UNDERWRITERS INS CO A RRG11033 0.00 0.00 1.84 0.47

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 90.93 0.02 1.04 0.46

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)12003 1.53 1.27 1.89 0.90

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 65: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios by State

EMERGENCY PHYSICIANS INS CO RRG11714 1.49 3.09 4.28 1.26

GOLDEN INS CO RRG11145 7.10 0.27 1.66 0.42

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.13973 118.81 0.01 0.30 0.14

HOME CONSTRUCTION INS CO RRG11950 1.75 1.76 2.49 -0.06

J.M. WOODWORTH RRG, INC.12594 1.17 1.82 3.31 1.34

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 2.18 1.29 3.19 1.91

LEWIS & CLARK LTC RRG, INC11947 1.03 3.28 5.56 1.72

LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP14084 0.00 0.00 0.00 0.00

NATIONAL BUILDERS & CONTRACTORS INS12235 1.35 2.00 2.29 0.23

NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.12539 1.59 2.06 2.60 0.43

PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.13810 28.62 0.31 8.32 -4.09

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 13.06 0.21 3.45 0.81

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 1.68 2.85 4.36 2.32

PREMIER PHYSICIANS INSURANCE COMPANY, RRG12613 2.17 1.44 3.13 1.85

PROAIR RISK RETENTION GROUP, INC.13179 1.03 0.07 0.25 0.23

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 2.21 1.07 1.57 1.13

STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.13993 0.00 0.00 0.02 0.08

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 2.97 0.52 0.91 0.35

1.83 1.55 2.75 1.02SUBTOTAL NEVADA OKLAHOMA

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 10.05 0.12 0.33 0.05

10.05 0.12 0.33 0.05SUBTOTAL OKLAHOMA SOUTH CAROLINA

ALLIED SERVICES RISK RETENTION GROUP12013 2.57 0.86 1.23 0.40

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 5.27 0.29 0.54 0.03

CAREGIVERS UNITED LIAB INS CO RRG11544 2.11 0.85 1.01 0.34

CENTRAL PA PHYSICIANS RRG INC11694 1.78 1.70 2.17 1.05

CLARIAN HLTH RRG INC11992 0.00 0.00 4.30 0.00

COMMUNITIES OF FAITH RRG INC11807 9.11 0.12 0.17 0.13

CONTINUING CARE RRG, INC.11798 2.07 0.47 0.71 1.26

EMERGENCY MEDICINE RRG INC12015 3.47 0.33 0.44 0.00

FAITH AFFILIATED RRG INC11698 3.25 0.47 0.63 0.18

FIRST KEYSTONE RISK RETENTION GROUP, INC.11801 1.04 2.54 3.96 1.78

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 1.75 1.39 1.70 0.81

GRACO RRG INC11581 0.00 0.00 1.72 0.24

GUTHRIE RRG12014 1.41 2.36 2.88 0.67

HEALTHCARE PROVIDERS INS CO RRG11683 3.09 0.55 0.75 0.14

HERITAGE WARRANTY INS RRG INC11097 94.01 0.01 1.01 0.00

JAMESTOWN INS CO RRG11589 1.05 2.17 3.39 0.95

LVHN RRG11684 0.00 0.00 7.76 1.82

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 2.65 0.35 0.66 0.14

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 0.00 0.00 0.76 0.00

NEW STAR RISK RETENTION GROUP, INC.12532 3.86 0.51 1.36 0.25

NOVUS INS CO RRG10752 0.28 4.22 0.61 0.74

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 66: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios by State

OCEANUS INS CO A RRG12189 1.61 2.64 4.40 1.61

PHOEBE RECIPROCAL RRG12004 3.35 0.44 0.49 0.14

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 1.94 1.88 3.94 0.62

PHYSICIANS SPECIALTY LTD RRG11513 2.63 0.67 0.92 0.20

RED CLAY RISK RETENTION GROUP, INC.13078 1.90 0.59 0.80 0.66

SAINT LUKE'S HLTH SYSTEM RRG11712 4.70 0.35 0.75 0.31

SAMARITAN RISK RETENTION GROUP, INC.12511 2.83 0.63 1.08 0.62

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 1.64 3.01 4.39 1.41

ST CHARLES INS CO RRG11114 2.07 0.97 1.10 0.11

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 0.00 0.00 0.28 0.00

SUPERIOR INS CO RRG11669 0.87 2.18 3.91 1.38

TITAN INS CO INC RRG11153 0.00 0.00 0.25 0.09

2.15 1.03 1.69 0.53SUBTOTAL SOUTH CAROLINA TENNESSEE

PARATRANSIT INSURANCE COMPANY, RRG44130 1.77 1.31 1.56 0.24

1.77 1.31 1.56 0.24SUBTOTAL TENNESSEE TEXAS

AMERICAN CONTRACTORS INS CO RRG12300 0.00 0.00 1.94 0.00

0.00 0.00 1.94 0.00SUBTOTAL TEXAS UTAH

LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY12627 1.34 2.81 5.75 4.33

1.34 2.81 5.75 4.33SUBTOTAL UTAH VIRGINIA

HOW INSURANCE COMPANY, A RISK RETENTION GROUP41246 130.22 0.01 0.11 0.00

130.22 0.01 0.11 0.00SUBTOTAL VIRGINIA VERMONT

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 24.78 0.05 0.84 0.52

ACBG RISK RETENTION GROUP, LLC12557 1.22 1.68 2.24 1.31

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 8.47 0.15 0.46 0.15

ALLIANCE OF NONPROFITS FOR INS RRG10023 2.48 0.68 1.06 0.40

AMERICAN EXCESS INS EXCHANGE RRG10903 2.47 0.79 0.97 0.13

AMERICAN SAFETY RRG INC25448 1.59 1.05 1.65 0.21

AMERIGUARD RRG INC12171 2.35 0.81 1.02 0.21

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 1.74 0.88 1.39 0.42

BAR VERMONT RISK RETENTION GROUP INC10174 4.03 0.33 0.51 0.01

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 1.32 3.61 5.52 1.35

BROADLINE RISK RETENTION GROUP, INC.13788 1.09 2.75 3.54 0.96

CASSATT RISK RETENTION GROUP INC10808 10.29 0.13 0.81 0.03

CHC CAS RRG11531 1.38 2.67 2.99 1.00

CIMARRON INSURANCE EXCHANGE RRG12308 1.12 1.79 2.36 0.75

CIRCLE STAR INS CO RRG11839 9.22 0.14 1.37 0.20

CLAIM PROFESSIONALS LIAB INS CO RRG12172 2.26 0.51 0.95 0.53

COLLEGE RISK RETENTION GROUP, INC.13613 1.86 1.39 4.29 1.45

COLUMBIA NATIONAL RRG INC10803 0.00 0.00 0.63 0.07

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 67: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios by State

COMCARE PRO INS RECIPROCAL RRG11864 4.17 0.35 0.81 0.65

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 2.03 4.43 8.49 1.32

COMMUNITY HOSPITAL RRG11259 1.59 1.79 2.04 0.50

CONSORTIUM RRG11528 6.98 0.16 0.17 0.00

CONSUMER SPECIALTIES INS CO RRG10075 2.74 0.59 0.78 0.11

CONTROLLED RISK INS CO OF VT RRG10341 2.72 0.71 0.99 0.59

CPA MUTUAL INS CO OF AMERICA RRG10164 1.78 1.06 1.38 0.31

CRUDEN BAY RRG INC11676 1.25 4.56 5.18 1.66

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 2.39 0.86 2.28 1.41

EASTERN DENTISTS INS CO RRG10115 1.98 1.33 1.99 0.41

EVERGREEN USA RRG INC38466 1.50 1.33 1.80 0.53

FIRST MEDICAL INS CO RRG11278 2.15 0.82 1.00 0.21

FRANKLIN CASUALTY INS CO RRG10842 0.21 2.68 17.30 1.48

FREDERICKSBURG PROFESSIONAL RISK EXC12016 2.59 0.44 0.47 0.13

GEISINGER INS CORP RRG12000 4.80 0.05 0.66 0.09

GENERAL EASTERN SKI INS RRG INC10163 2.04 0.29 0.42 0.00

GLOBAL HAWK INSURANCE COMPANY RRG11948 2.89 0.68 1.51 0.99

GREEN HILLS INS CO RRG11941 2.65 0.65 1.05 0.39

HAMDEN ASSURANCE RRG, INC.13057 0.00 0.00 45.99 0.00

HEARTLAND HEALTHCARE RECIP RRG11998 2.28 0.81 0.94 0.44

HOUSING AUTHORITY RRG INC26797 2.70 0.63 0.77 0.16

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 4.73 0.27 0.38 0.10

INDIANA HEALTHCARE RECIP RRG11692 1.74 1.84 2.32 0.69

LAKE STREET RRG INC11803 3.90 0.39 0.57 0.17

MENTAL HEALTH RISK RETENTION GROUP44237 2.14 1.04 1.44 0.41

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 1.31 2.93 5.35 0.90

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 1.02 0.27 0.55 0.02

MOUNTAIN LAUREL RRG INC11547 1.46 4.40 6.68 2.39

NATIONAL CATHOLIC RRG10083 1.32 2.58 3.18 0.52

NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP13059 1.96 2.28 3.64 1.44

OASIS RECIPROCAL RISK RETENTION GROUP13644 1.37 1.61 3.87 1.03

OOIDA RISK RETENTION GROUP INC10353 2.68 0.70 1.73 0.28

OPHTHALMIC MUTUAL INS CO RRG44105 3.74 0.42 0.66 0.20

ORDINARY MUTUAL A RRG CORP10171 1.52 1.76 1.97 0.30

PACE RRG INC11575 0.60 6.51 11.80 0.13

PEACE CHURCH RRG INC11846 3.08 0.49 0.59 0.23

PELICAN INS RRG11587 5.41 0.26 0.45 0.31

PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP12918 1.50 2.06 2.65 0.55

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 2.33 0.99 1.52 0.30

PHYSICIANS REIMBURSEMENT RRG10934 1.69 1.53 1.61 0.31

PINE TREE INS RECIPROCAL RRG12348 2.12 1.27 1.78 0.53

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 3.64 0.44 0.67 0.25

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 28.66 0.06 0.67 0.02

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 68: Demotech, Inc. Analysis of Risk Retention Groups

Company NameNAIC Cash and Invested Assets /

Loss and LAEReserves

Loss and LAEReserves /

Policyholders Surplus

Liabilities /Policyholders

Surplus

Net Premium Written /

Policyholders Surplus

Risk Retention Groups - Ratios by State

PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)11350 3.93 0.36 0.43 0.25

SCHUYKILL CROSSING RECIPROCAL RRG11808 1.36 3.41 3.92 -0.06

SECURITY AMERICA RRG INC11267 5.08 0.27 0.70 0.48

ST LUKES HEALTH NETWORK INS CO RRG11688 1.34 2.72 2.86 0.15

STATES SELF-INSURERS RRG44075 2.41 1.13 1.79 0.16

STICO MUT INS CO RRG10476 4.52 0.37 0.91 0.21

TERRA INS CO RRG10113 4.42 0.31 0.62 0.36

THE HEALTHCARE UNDERWRITING CO RRG10152 0.60 1.08 1.30 0.32

TITLE INDUSTRY ASSURANCE CO RRG10084 1.35 2.33 3.07 0.31

UNITED CENTRAL PA RRG11548 3.83 0.35 0.43 0.27

UNITED EDUCATORS INS RRG INC10020 1.94 1.38 1.85 0.33

UNITED HOME INSURANCE CO A RRG10712 0.00 0.00 1.86 0.00

WARREN RRG INC11802 1.61 1.69 1.92 0.43

WELLSPAN RRG11682 0.93 2.61 2.89 1.02

WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP13154 9.74 0.12 0.21 0.17

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 2.37 1.55 3.24 0.95

2.15 0.93 1.34 0.29SUBTOTAL VERMONT WEST VIRGINIA

MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.12779 1.66 1.62 1.93 0.73

1.66 1.62 1.93 0.73SUBTOTAL WEST VIRGINIA 2.00Total - All Risk Retention Groups 1.01 1.49 0.34

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 69: Demotech, Inc. Analysis of Risk Retention Groups

Risk Retention GroupsDirect Premiums Written - Third Quarter

Based on Schedule T Jurisdiction 2011 2010

1 Alabama $22,567,203 $24,733,749

2 Alaska $4,380,083 $4,705,791

3 Arizona $36,800,678 $42,632,011

4 Arkansas $12,629,384 $17,545,178

5 California $174,461,643 $180,259,403

6 Colorado $27,162,164 $26,231,140

7 Connecticut $22,140,600 $83,029,113

8 Delaware $15,787,640 $8,382,377

9 District of Columbia $41,339,260 $43,424,354

10 Florida $88,447,482 $84,877,683

11 Georgia $32,202,833 $32,757,458

12 Hawaii $4,905,169 $4,455,151

13 Idaho $6,541,201 $6,376,882

14 Illinois $75,568,051 $76,214,044

15 Indiana $44,454,307 $41,753,538

16 Iowa $6,681,991 $6,424,250

17 Kansas $10,893,148 $10,141,307

18 Kentucky $25,602,562 $25,230,413

19 Louisiana $12,870,596 $12,506,004

20 Maine $7,413,682 $8,692,735

21 Maryland $27,560,985 $98,085,778

22 Massachusetts $165,813,891 $162,781,464

23 Michigan $29,425,384 $26,213,549

24 Minnesota $12,968,764 $14,154,693

25 Mississippi $18,303,626 $19,436,961

26 Missouri $36,498,728 $35,550,802

27 Montana $16,627,503 $15,814,939

28 Nebraska $9,855,355 $8,396,551

29 Nevada $18,877,670 $20,291,790

30 New Hampshire $4,954,754 $4,433,194

31 New Jersey $56,969,229 $59,810,052

32 New Mexico $12,895,564 $12,506,115

33 New York $185,647,557 $336,479,483

34 North Carolina $23,831,592 $25,610,318

35 North Dakota $1,458,461 $1,302,636

36 Ohio $37,363,995 $40,062,449

37 Oklahoma $15,438,031 $15,999,738

38 Oregon $18,974,544 $16,845,821

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 70: Demotech, Inc. Analysis of Risk Retention Groups

Risk Retention GroupsDirect Premiums Written - Third Quarter

Based on Schedule T Jurisdiction 2011 2010

39 Pennsylvania $338,719,875 $339,894,299

40 Rhode Island $5,317,441 $5,453,164

41 South Carolina $9,456,301 $21,301,469

42 South Dakota $1,834,674 $1,654,731

43 Tennessee $16,825,168 $20,368,304

44 Texas $80,286,297 $78,461,521

45 Utah $13,721,181 $10,139,309

46 Vermont $10,840,459 $5,681,520

47 Virginia $35,290,861 $38,418,335

48 Washington $34,667,178 $34,160,920

49 West Virginia $22,140,464 $21,564,949

50 Wisconsin $10,592,635 $10,564,019

51 Wyoming $7,548,414 $6,831,814

52 American Samoa $0 $0

53 Guam $51,423 $53,897

54 Puerto Rico $132,919 $141,523

55 U.S. Virgin Islands $802,950 $792,910

56 Northern Mariana Islands $47,672 $46,692

57 Canada $262,562 $151,918

58 Aggregate Other Alien $12,240,728 $12,886,375

$1,967,094,512 $2,262,716,583TOTAL - ALL JURISDICTIONS

The most current FSRs must be verified by visiting www.demotech.com. 3rd Quarter 2011 - RRG Analysis

Page 71: Demotech, Inc. Analysis of Risk Retention Groups

Alabama 58 6,031 7,060 933,605 0 13,580,324 7,890,242 4,231,619 6,712 0 26,655,593Alaska 34 3 410 5 285 120 028 0 336 306 3 878 977 1 125 797 38 245 0 5 508 048

RRGsWriting inState

OtherCommercialAuto Liab Warranty Total

Other LiabClaims Made

Other LiabOccurrenceFidelity

MedicalProf Liab Product LiabState

Boiler &Machinery

CommercialAuto LiabNo Fault

Risk Retention Groups Direct Premium Written ‐ 12/31/2010By Line of Business

Alaska 34 3,410 5,285 120,028 0 336,306 3,878,977 1,125,797 38,245 0 5,508,048Arizona 70 2,436 93,698 15,391,489 39,500 28,411,481 9,223,863 3,825,966 0 0 56,988,433Arkansas 51 14,086 0 6,803,873 0 2,144,818 6,885,035 1,800,564 81,500 0 17,729,876California 84 71,144 1,144,289 13,831,311 1,509,314 108,971,791 61,525,436 38,992,798 126,933 25,140 226,198,156Colorado 63 3,249 1,601 720,963 170,422 11,429,975 9,522,232 6,956,504 26,880 1,680 28,833,506Connecticut 55 3,698 32,090 607,538 11,000 54,130,779 8,964,268 7,071,588 0 0 70,820,961Delaware 51 2,242 10,227 370,936 0 3,998,529 10,289,730 12,559,113 0 30 27,230,807District of Columbia 39 601 0 755,082 5,500 2,570,830 36,008,563 4,755,797 0 0 44,096,373Florida 74 2,456 23,070 2,218,745 7,582 65,326,089 22,486,081 10,064,363 106,550 20,790 100,255,726Georgia 66 16,765 734 1,785,675 0 12,996,000 15,029,479 3,143,659 21,662 6,240 33,000,214Georgia 66 16,765 734 1,785,675 0 12,996,000 15,029,479 3,143,659 21,662 6,240 33,000,214Hawaii 31 1,928 0 210,268 0 1,492,210 1,737,417 1,758,716 0 0 5,200,539Idaho 48 1,925 1,833 155,445 0 3,208,288 3,550,354 468,418 0 0 7,386,263Illinois 83 34,754 4,995 1,478,634 290,580 33,283,048 34,987,201 10,839,044 24,796 7,200 80,950,252Indiana 64 27,827 0 661,582 0 30,528,173 9,241,663 3,588,863 48,441 10,920 44,107,469Iowa 54 8,270 0 179,594 62,500 3,559,214 2,663,854 1,942,624 0 0 8,416,056Kansas 43 3,841 0 139,070 259,250 3,844,368 5,306,362 1,348,164 74,813 0 10,975,868Kentucky 58 3,983 1,193 786,147 0 15,883,198 7,541,953 2,032,609 106,908 0 26,355,991Louisiana 58 8,381 0 2,968,052 0 3,192,009 5,801,695 3,284,181 22,473 0 15,276,791Maine 42 6,025 65,828 121,549 0 4,890,062 2,988,324 1,161,959 0 0 9,233,747, , , , , , , , , , ,Maryland 65 17,085 36,669 2,287,562 1,022,100 57,558,449 18,511,799 5,758,000 2,500 7,260 85,201,424Massachusetts 56 19,850 7,355 310,197 1,191,380 121,946,911 38,233,783 10,289,361 6,211 0 172,005,048Michigan 61 12,052 2,052 1,265,168 0 13,587,163 11,696,430 2,702,913 22,150 0 29,287,928Minnesota 43 31,190 182 181,991 114,400 3,872,245 6,927,229 2,788,312 7,597 5,790 13,928,936Mississippi 44 16,242 0 655,735 0 19,427,713 1,956,514 1,987,044 0 0 24,043,248Missouri 60 16,473 10,674 919,678 167,500 15,491,912 13,878,429 5,056,989 63,369 0 35,605,024Montana 44 283 0 1,671,265 0 12,400,671 4,005,400 309,953 526 0 18,388,098Nebraska 41 2,410 0 464,497 29,000 2,857,686 1,751,124 4,688,062 0 0 9,792,779Nevada 64 13,036 514 649,747 0 14,474,149 4,579,236 4,620,654 8,131 8,670 24,354,137New Hampshire 42 6,930 55,201 117,713 0 1,714,924 1,753,581 2,392,653 0 0 6,041,002New Jersey 79 23,077 110,237 15,229,466 517,775 29,313,967 15,060,666 9,815,465 0 0 70,070,653New Mexico 53 1,294 451 512,842 0 8,360,461 3,508,477 2,178,227 64,362 0 14,626,114New York 82 11,209 18,113 1,181,904 1,901,851 243,645,659 85,297,269 34,289,721 130,772 0 366,476,498North Carolina 68 36,814 10,557 1,004,870 0 16,645,896 8,171,216 3,282,708 19,491 3,210 29,174,762North Dakota 25 562 0 11,619 0 116,100 1,174,479 141,449 69,981 0 1,514,190Ohio 74 16,498 1,839 2,168,828 0 18,567,904 16,511,119 4,643,987 131,164 0 42,041,339Oklahoma 54 8,078 0 851,499 0 12,532,408 2,215,145 2,358,887 19,057 0 17,985,074Oregon 58 10,745 7,467 2,008,734 0 5,679,981 4,919,628 5,778,840 27,196 0 18,432,591P l i 101 48 496 81 311 16 207 974 1 881 299 279 774 160 30 427 936 28 614 331 138 414 0 357 173 921Pennsylvania 101 48,496 81,311 16,207,974 1,881,299 279,774,160 30,427,936 28,614,331 138,414 0 357,173,921Rhode Island 39 3,108 4,106 103,879 0 2,084,566 1,763,866 2,434,484 0 0 6,394,009South Carolina 59 5,004 13,153 783,599 3,250 3,658,759 5,808,695 5,132,182 2,500 8,190 15,415,332South Dakota 30 419 0 36,979 0 117,685 1,640,138 179,894 0 0 1,975,115Tennessee 65 22,830 2,180 773,342 0 6,707,525 7,296,890 1,874,838 23,262 0 16,700,867Texas 81 26,570 9,999 10,430,922 524,340 27,845,255 33,021,411 17,615,217 121,676 34,590 89,629,980Utah 50 9,074 0 2,857,996 0 2,784,728 4,668,326 1,779,112 11,188 0 12,110,424Vermont 45 457 16,356 286,275 0 685,188 2,822,409 2,568,376 285,618 0 6,664,679Virginia 72 19,461 9,099 3,103,737 28,080 16,233,260 15,990,452 8,865,364 7,306 7,200 44,263,959Washington 64 19 277 8 668 4 568 628 23 734 17 769 774 12 903 444 5 447 082 103 076 0 40 843 683Washington 64 19,277 8,668 4,568,628 23,734 17,769,774 12,903,444 5,447,082 103,076 0 40,843,683West Virginia 52 7,249 0 226,401 0 16,517,215 6,585,276 626,876 6,498 0 23,969,515Wisconsin 37 24,287 4,400 288,578 81,025 2,182,996 7,248,168 1,119,578 38,581 0 10,987,613Wyoming 38 2,760 0 43,516 0 3,964,148 2,429,414 997,905 0 0 7,437,743American Samoa 0 0 0 0 0 0 0 0 0 0 0Guam 2 0 0 0 0 0 179,112 242,361 0 0 421,473Puerto Rico 2 0 0 0 0 0 133,806 0 0 0 133,806U.S. Virgin Islands 2 0 0 0 0 0 791,673 126,532 0 0 918,205Northern Mariana Islands 1 0 0 0 0 0 49,874 0 0 0 49,874Canada 1 0 0 0 0 0 130 076 0 0 0 130 076Canada 1 0 0 0 0 0 130,076 0 0 0 130,076Aggregate Other Alien 5 0 0 0 0 0 22,217,465 52,882 0 0 22,270,347Total ‐ 245 RRGs 655,872 1,802,486 121,444,727 9,841,382 1,382,296,950 661,782,684 301,712,585 1,996,539 146,910 2,481,680,135

Data source: The National Association of Insurance Commissioners, Kansas City, Missouri, by permission. Information derived from a SNL Data product.The NAIC and SNL do not endorse any analysis or conclusion based upon the use of its data.

Page 72: Demotech, Inc. Analysis of Risk Retention Groups

®

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.

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.

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.

Financial stability is independent of size.

®

Solutions as Unique as Your OrganizationDemotech 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.

Contact Douglas Powell at [email protected] to discuss any needs or problems your organization is experiencing.

Page 73: Demotech, Inc. Analysis of Risk Retention Groups

®

Demotech, Inc.2715 Tuller Parkway

Dublin, OH 43017-2310www.demotech.com