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IN RE If ff Reliance uments Powered By Docstoc
					                                        Master Service List
                                             Parties
                        IN RE: Reliance Insurance Company In Liquidation
                      No. 1 REL 2001 (Commonwealth Court of Pennsylvania)

Preston M. Buckman, Esquire, (717) 787-6009          Frank P. DeGiulio, (215) 625-9900
Department Counsel for Insurance                     Charles P. Neely
Governor's Office of General Counsel                 Palmer Biezup & Henderson LLP
Commonwealth of Pennsylvania                         190 North Independence Mall West
Insurance Department                                 Suite 401
Office of the Chief Counsel                          Philadelphia, PA 19106
Capitol Associates Building                          Phone: (215) 625-9900
901 North 7th Street                                 Fax: (215) 625-0185
Harrisburg, PA 17102                                 e-mail: fpd@pbh.com
Phone: (717) 787-6009                                         cneely@pbh.com
Fax: (717) 772 4543                                  (Counsel for Republic Western Insurance Company)
E-mail: pbuckman@pa.gov
(Attorneys for the Pennsylvania
Insurance Department)

Marilyn K. Kincaid, Esquire, (215) 864-4205
Reliance Insurance Company
(in Liquidation)
Three Parkway
5th Floor
Philadelphia, PA 19102
Phone: (215) 864-4205
Fax: (215) 864-4105
E-mail: marilyn.kincaid@relianceinsurance.com
(Attorney for Reliance Insurance
Company (in Liquidation))




                                                 1
114582.00600/21231974v.1
                                       Master Service List
                                         Non-Parties
                        IN RE: Reliance Insurance Company In Liquidation
                      No. 1 REL 2001 (Commonwealth Court of Pennsylvania)


Richard F. McMenamin, Esquire, (215) 963-5751       Jayson R. Wolfgang, Esquire, (717) 237-4852
David L. Harbaugh, Esquire                          Buchanan Ingersoll
Morgan, Lewis & Bockius LLP                         One South Market Square
1701 Market Street                                  213 Market Street, 3rd Floor
Philadelphia, PA 19103-2921                         Harrisburg, PA 17101
Phone: (215) 963-5751                               Phone: (717) 237-4852
Fax: (215) 963-5001                                 Fax: (717) 233-0852
E-mail: dharbaugh@morganlewis.com                   E-mail: jayson.wolfgang@bipc.com
rmcmenamin@morganlewis.com                          (Attorneys for Federal Insurance Company)
(Attorneys for Fuji Bank)
                                                    Rowe W. Snider, Esquire, (312) 443-0700
Richard F. McMenamin, Esquire, (215) 963-5596       Steven T. Whitmer, Esquire
Erica Smith Klocek, Esquire                         Julie L. Young, Esquire
Morgan, Lewis & Bockius LLP                         Locke Lord Bissell & Liddell LLP
1701 Market Street                                  111 S. Wacker Drive
Philadelphia, PA 19103-2921                         Chicago, Illinois 60606
Phone: (215) 963-5596                               Phone: (312) 443-0700
Fax: (215) 963-5001                                 Fax: (312) 443-0336
E-mail: esklocek@morganlewis.com                    E-mail: rsnider@lockelord.com
rmcmenamin@morganlewis.com                                   swhitmer@lockelord.com
(Attorneys for Milliken & Company)                           jyoung@lockelord.com
                                                    (Attorneys for Illinois Insurance Guaranty Fund)


                                                    Daryn E. Rush, Esquire, (215) 446-6220
Richard F. McMenamin, Esquire, (215) 963-5596       Gibbons PC
Morgan, Lewis & Bockius LLP                         1700 Two Logan Square
1701 Market Street                                  18th & Arch Streets
Philadelphia, PA 19103-2921                         Philadelphia, PA 19103-2769
Phone: (215) 963-5596                               Phone: (215) 446-6220
Fax: (215) 963-5001                                 Fax: (215) 446-6336
E-mail: rmcmenamin@morganlewis.com                  E-mail: drush@gibbonslaw.com
(Attorneys for The Bank of New York Mellon          (Attorney for Baptist Health South Florida, Inc.,
(Formerly Mellon Bank, N.A.)                        Palm Springs General Hospital, and Travelers
                                                    Casualty and Surety Co.)




                                                1
114582.00600/21231974v.1
Timothy P. Law, (215) 851-8100                               Jayne A. Risk, (215)656-3328
Matthew D. Rosso                                             DLA Piper (US) LLP
Reed Smith LLP                                               One Liberty Place
2500 One Liberty Place                                       1650 Market Street
1650 Market Street                                           Philadelphia PA 19103
Philadelphia, PA 19103                                       Phone: (215)656-3328
Phone: (215) 851-8100                                        fax: (215)606-3328
Fax: (215) 851-1420                                          Email: jayne.risk@dlapiper.com
E-mail: tlaw@reedsmith.com
         mrosso@reedsmith.com                                Stephen A. Loney, Jr., (267) 675-4600
                                                             Hogan & Hartson LLP
(Counsel for Unisys Corporation and Tribune
                                                             1835 Market Street
Company, Lincoln National Corporation, Warrantech
                                                             29th Floor
et. al)
                                                             Philadelphia, PA 19103
                                                             Phone: (267) 675-4600
Henry M. Sneath, (412) 288-4000
                                                             Fax: 267-675-4601
Bridget M. Gillespie, (412) 288-4017
                                                             e-mail: saloney@hhlaw.com
Picadio Sneath Miller & Norton, P.C.
                                                             (Counsel for Genworth Life Insurance Company and
 4710 US Steel Tower
                                                             Genworth Life and Annuity Insurance Company
600 Grant Street
                                                             (formerly General Electric Capital Assurance
Pittsburgh, PA 15219-2702
                                                             Company, First Colony Life Insurance Life Insurance
Phone: (412) 288-4000
                                                             Company, Federal Home Life Insurance Company,
        (412) 288-4017
                                                             and GE Life and Annuity Assurance Company) and
Fax: (412) 288-2405
                                                             National Structured Settlements Trade Association)
E-mail: hsneath@psmn.com
         bgillespie@psmn.com
(Counsel for Washington Mutual Bank (“WAMU”),
as successor to Hawthorne Financial Corp. and
Hawthorne Saving, F.S.B.)

Craig Tractenberg, (212) 940-3722
NIXON PEABODY LLP
Two Penn Center
1500 JFK Blvd
Suite 200
Philadelphia, PA 19102
Phone: (212) 940-3722
Fax: (866) 852-3722
E-Mail: ctractenberg@nixonpeabody.com
(Counsel for Massachusetts Insurers Insolvency
Fund)


Nicholas E. Chimicles, Esquire, (610) 642-8500
Anthony A. Geyelin, Esquire
Chimicles & Tikellis LLP
361 W. Lancaster Avenue
Haverford, PA 19041
Phone: (610) 642-8500
Fax: (610) 649-3633
Email: Nick@Chimicles.com
        TonyGeyelin@Chimicles.com
(Counsel for Petitioner, the Certified Class in the In
re Phoenix Leasing Limited Partnership Litigation)




                                                         2
114582.00600/21231974v.1
Exhibit A
RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
SPECIAL PURPOSE STATEMENTS OF ASSETS AND LIABILITIES - UNAUDITED
(In Millions)

       ASSETS                                                                 June 30, 2012                            December 31, 2011
Short and intermediate duration investments                                             $ 2,253.6                                $ 2,191.9
Investments held for secured creditors                                                        4.4                                       5.5
Investments held for uncovered claimants                                                     15.8                                      15.5
Invested assets excluding affiliates                                                      2,273.8                                   2,212.9
Investments in affiliates                                                                   134.4                                     134.4
Total invested assets                                                                     2,408.2                                   2,347.3
Premium balances                                                                               29.1                                       30.1
Reinsurance receivable                                                                         38.8                                       56.3
Reinsurance recoverables                                                                      673.7                                      816.1
Early access advances to guaranty associations                                              2,089.4                                    2,089.1
Other assets                                                                                   26.6                                       31.1
Total Assets                                                                                5,265.8                                    5,370.0

     LIABILITIES
Secured Creditors - Funds held                                                                 48.3                                        48.5
Class (a) liabilities
    Liquidator expenses incurred since liquidation                           1,123.5                                    1,106.6
    Liquidator expenses paid since liquidation                              (1,123.5)                                  (1,106.6)
  Liquidator expenses - unpaid                                                   -                                          -
    Guaranty association expenses - submitted                                  327.0                                      317.5
    Guaranty association expenses - paid                                       260.0                                      260.0
  Guaranty association expenses - unpaid                                        67.0                                       57.5
  Other class (a) liabilities                                                    4.8                                       53.9
Total class (a) liabilities                                                                    71.8                                      111.4
Class (b) liabilities
   Guaranty association paid losses                                         2,950.7                                     2,907.0
   Guaranty association reported reserves                                   1,132.9                                     1,131.8
   Notices of determination issued                                            885.8                                       872.4
        Gross distribution calculation                                       (339.1)                                     (318.4)
        Reduction for aggregate policies                                       32.3                                        30.8
   Asset distribution payments                                               (306.8)                                     (287.6)
   All other estimated reserves (including IBNR)                            2,787.5                                     2,857.0
Total class (b) liabilities                                                                 7,450.1                                    7,480.6
Class (c) liabilities                                                                            -                                          -
Class (d) liabilities                                                                            -                                          -
Class (e) liabilities
  Notices of determination issued                                              80.2                                        74.6
  Losses and reserves on assumed business                                   1,170.8                                     1,159.5
  Other class (e) liabilities                                                  30.7                                        37.4
Total class (e) liabilities                                                                 1,281.7                                    1,271.5
Class (f) liabilities                                                                            -                                          -
Class (g) liabilities - Notices of determination issued                                        26.2                                        18.4
Class (h) liabilities                                                                            -                                          -
Class (i) liabilities                                                                            -                                          -
Total liabilities                                                                           8,878.1                                    8,930.4

Net deficit                                                                              ($3,612.3)                                  ($3,560.4)


The special purpose statement of assets and liabilities of Reliance Insurance Company (in Liquidation) is prepared on a unique financial
reporting basis, in that, the statement does not fully reflect the effect of the company's liquidation. The liquidation process will result in the
realization of amounts on transfer or disposition of assets and in the satisfaction of liabilities at amounts substantially different than those
reflected in the accompanying statement of assets and liabilities. The statement does not include any adjustment that might result from the
outcome of the uncertainties related to the liquidation, future administration expenses, and various potential exposures, recoveries or benefit
The special purpose statement of assets and liabilities is not intended to be in conformity with, and will vary significantly from generally
accepted accounting principles and statutory accounting practices for a property and casualty insurance company as prescribed by the NAIC
See accompanying notes.
Exhibit B
RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
SPECIAL PURPOSE STATEMENT OF CHANGES IN POLICYHOLDERS' SURPLUS - UNAUDITED


(In Millions)
                                                                            Six Months                     Period From
                                                                              Ended                       Oct. 3, 2001 To
                                                                           June 30, 2012                  June 30, 2012


Policyholders' surplus - beginning of period                                       ($3,560.4)                      ($2,683.5)

Underwriting loss                                                                     (100.5)                       (2,470.8)
Net investment income                                                                   24.4                           495.0
Other income/(expense) (1)                                                              (7.5)                          740.7

Net realized and unrealized capital gains/(losses)                                      31.7                            306.3


Change in policyholders' surplus                                                        (51.9)                          (928.8)


Policyholders' surplus - end of period                                             ($3,612.3)                      ($3,612.3)




(1) Significant items in the other income/(expense) prior to 2012 includes settlements with directors and officers
and the parent company, changes in the estimate for uncollectible reinsurance and the elimination of other
liabilities relating primarily to pre-rehabilitation expenses which are class (e) creditor claims and are unlikely to
be paid or offset against any other assets of the Estate.

The special purpose statement of changes in policyholders' surplus of Reliance Insurance Company (in Liquidation)
is prepared on a unique financial reporting basis, in that, the statement does not fully reflect the effect of the
company's liquidation. The liquidation process will result in the realization of amounts on transfer or disposition of
assets and in the satisfaction of liabilities at amounts substantially different than those reflected in the accompanying
statement of assets and liabilities. The statement does not include any adjustment that might result from the
outcome of the uncertainties related to the future effect of the liquidation and various potential exposures, recoveries
or benefits.

The special purpose statement of changes in policyholders' surplus is not intended to be in conformity with, and will
vary significantly from, generally accepted accounting principles and statutory accounting practices for a property
and casualty insurance company as prescribed by the National Association of Insurance Commissioners.



See accompanying notes.
Exhibit C
RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS, AND CHANGES IN SHORT AND
INTERMEDIATE DURATION INVESTMENTS
FOR THE PERIOD JANUARY 1, 2012 TO JUNE 30, 2012 - UNAUDITED

(In Millions)




Cash Receipts:
Reinsurance collections                                               $84.9

Premium collections                                                      1.6

Claim recoveries                                                         0.6

Investment income received                                             28.8

Other including realized gains and losses of $41.9 million             59.0

     Total Cash Receipts                                              174.9

Cash Disbursements:
Operating expenses                                                     (24.5)

Asset distribution on class (b) NODs                                   (67.6)

Loss and allocated loss adjustment expenses                             (0.4)

     Total Cash Disbursements                                          (92.5)

     Net change in short and intermediate duration investments
      from cash activity                                               82.4

Non-cash items affecting short and intermediate term investments:
Change in value of investments managed by investment managers          (20.7)

     Total Non-cash activity                                           (20.7)


Net change in short and intermediate duration investments              61.7

Beginning Balance - Short and intermediate duration investments      2,191.9

Ending Balance - Short and intermediate duration investments        $2,253.6




See accompanying notes.
Exhibit D
               RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
              NOTES TO THE FOLLOWING UNAUDITED STATEMENTS:

          SPECIAL PURPOSE STATEMENT OF ASSETS AND LIABILITIES,
                SPECIAL PURPOSE STATEMENT OF CHANGES
                     IN POLICYHOLDERS’ SURPLUS, AND
          STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS AND
        CHANGES IN SHORT AND INTERMEDIATE DURATION INVESTMENTS


Note 1 - Nature of operations and basis of presentation
Reliance Insurance Company (“the Company”) was placed into rehabilitation by order of
the Commonwealth Court of Pennsylvania (“the Court”) on May 29, 2001. On October 3,
2001, the Company was declared insolvent by order (“the Order”) of the Court. The
Order of the Court appointed the Insurance Commissioner of Pennsylvania as
Liquidator of the Company (“the Liquidator”). Representatives of the Liquidator oversee
the daily operations of the Company. The Order applies to all former subsidiaries of
Reliance Insurance Company that were previously merged into Reliance Insurance
Company, including Reliance National Indemnity Company, Reliance National
Insurance Company, United Pacific Insurance Company, Reliance Direct Insurance
Company, Reliance Surety Company, Reliance Universal Insurance Company, United
Pacific Insurance Company of New York, and Reliance Insurance Company of Illinois.
The entity is now known as Reliance Insurance Company (in Liquidation) (“Reliance”) or
(“the Estate”).

The principal activities since the date of liquidation consist of the collection and
marshalling of assets and determination of claims. All creditor claims submitted to
Reliance must be evaluated through the Proof of Claim (“POC”) process to determine
and assign the proper class priority and dollar value. The largest class of creditors is
claims for losses under policies issued prior to liquidation. Ultimately, the net assets of
the Estate are expected to be distributed to creditors.

Priority of Claims and Distribution to Creditors

Reliance will distribute funds to creditors in accordance with the Insurance Department
Act of 1921 (the “Act”), 40 P.S. Section §221.44, which governs asset distributions from
insolvent insurance estates. The following summarizes the classes of creditors under
the Act:

  (a)   The costs and expenses of administration, including but not limited to the actual
        and necessary costs of preserving or recovering the assets of the insurer,
        compensation for all services rendered in the liquidation, reasonable attorney’s
        and other expenses and fees.

  (b)   All claims under policies for losses wherever incurred, including third-party
        claims, and all claims against the insurer for liability for bodily injury or for injury
        to or destruction of tangible property which are not under policies, shall have the
        next priority.

  (c)   Claims of the Federal government.

  (d)   Debts due to employees for services performed to the extent that they do not
        exceed $1,000 and represent payment for services performed within one year
        before the filing of the petition for liquidation.

  (e)   Claims under nonassessable policies for unearned premium or other premium
        refunds and claims of general creditors.

  (f)   Claims of any state or local government.

  (g)   Claims filed late and certain other special claims.

  (h)   Surplus or contribution notes, or similar obligations, and premium refunds on
        assessable policies.

  (i)   The claims of shareholders or other owners.

Every claim in each class shall be paid in full or adequate funds retained for such
payment before the members of the next class receive any payment. No subclasses
shall be established within any class.

Claims that are lower than class (b) priority are generally not assigned a dollar value
during the POC process. These claimants are being advised that a value will be
determined only if the Estate believes that sufficient funds will be available for
distributions to creditors below class (b). Claims lower than class (b) are not reported
as liabilities on the Special Purpose Statement of Assets and Liabilities with the
exception of certain reinsurance liabilities which could have offset implications and
claims in which a Notice of Determination (“NOD”) has been issued.

Reliance is on a modified cash basis of accounting accepted by the Pennsylvania
Department of Insurance which is a cash basis with adjustments.

The Special Purpose Statements of Assets and Liabilities and Changes in
Policyholders’ Surplus (“Statements”) of Reliance are prepared on a unique financial
reporting basis, in that, the Statements do not fully reflect the effect of the Estate’s
liquidation. The liquidation process will result in the realization of amounts on transfer
or disposition of assets and in the satisfaction of liabilities at amounts substantially
different than those reflected in the Special Purpose Statement of Assets and Liabilities.
The Statements do not include an estimate of liquidation administrative expenses or any
adjustments that might result from the outcome of the uncertainties related to the future
effects of the liquidation and various potential exposures, recoveries or benefits.
The Statements and the Statement of Cash Receipts and Disbursements and Changes
in Short and Intermediate Duration Investments are not intended to be in conformity
with, and will vary significantly from, generally accepted accounting principles and
statutory accounting practices for a property and casualty insurance company as
prescribed by the National Association of Insurance Commissioners. The statements
include Reliance and its domestic property and casualty insurance operations. Loss
and loss adjustment expenses are presented gross of reinsurance.

The preparation of financial statements requires the use of estimates and assumptions
that affect amounts reported in these financial statements and accompanying notes.
Actual results may vary from these estimates.

Note 2 – Cash disbursements
Cash disbursements for which checks have been issued, but which are outstanding at
the date of the Special Purpose Statements of Assets and Liabilities are not recorded as
deductions to short and intermediate duration investments. Check disbursements are
recorded as deductions to short and intermediate duration investments only when
presented to the bank.

Note 3 – Short and intermediate duration investments
Short and intermediate duration investments consist primarily of short-term investments
and marketable bonds and notes. Such investments are recorded at fair value using
recognized national pricing services. However, no accrued but unpaid interest income
is reported in the Special Purpose Statements of Assets and Liabilities related to such
investments.

Note 4 – Investments held in segregated accounts
Investments held in segregated accounts, which consist primarily of short-term fixed
maturity investments, are reported at fair value. However, no accrued or unpaid interest
is reported in the accompanying financial statements. These investments include
amounts to secure obligations of Reliance arising from certain reinsurance contracts
and funds collected on large deductible policies. Funds collected on large deductible
policies, which are not assets of the Estate, are $1.4 million and $2.1 million at June 30,
2012 and December 31, 2011, respectively and will be administered and paid to the
GAs and creditors in accordance with the Act , 40 P.S. §221.23a.

Investments held for uncovered claimants are held pursuant to a settlement agreement
entered into as of February 10, 2006 (“Settlement Agreement”) with various state GAs.
Pursuant to the Settlement Agreement, Reliance reduced the large deductible
reimbursements otherwise due and owed to each of the various state GAs and
established a fund for the exclusive benefit of uncovered (not covered by a GA) class
(b) claimants.
Note 5 – Investments in affiliates
Investments in affiliates include the net assets of the Estate’s non-insurance
subsidiaries, foreign insurance subsidiaries (residual interest) and Canadian branch,
which is under liquidation proceedings in Canada. The carrying value of certain of
these investments has been adjusted to reflect an estimate of net realizable value.
Market values are not available for these entities, therefore proceeds from the ultimate
disposition of these entities may be significantly different than the amount reflected in
the Special Purpose Statements of Assets and Liabilities.

Note 6 – Premium balances
Premium balances include accrued retrospective premiums of $20.6 million and $21.3
million at June 30, 2012 and December 31, 2011, respectively. Accrued retrospective
premiums are based upon actuarial loss estimates and will be adjusted based on
changes in loss estimates. Premiums on retrospective rated policies will be billed and
collected on an ongoing basis. Premium balances also include billings related to large
deductible policies of $6.3 million and $5.6 million at June 30, 2012 and December 31,
2011, respectively. Other premium balances include estimates and may not reflect all
transactions processed by agents, insureds and program managers. Certain balances
may only be collectible through legal proceedings. Due to these uncertainties, balances
ultimately collectible may be significantly different than the amount reflected in the
Special Purpose Statements of Assets and Liabilities.

Note 7 – Reinsurance recoverable, Class (b) liabilities and Class (e) losses and
reserves on assumed business
Class (b) liabilities is comprised of GA paid losses, GA reported reserves, NODs issued
by the Estate and all other estimated reserves. The NOD issued amount is adjusted by
$306.8 million in distribution payments to creditors. All other estimated reserves is
comprised of estimated reserves for future claims, including POCs where a NOD has
not yet been issued, estimated amounts for future claims to be reported to the Estate
(IBNR) or estimated reserves for GA claims in excess of reported reserves. All other
estimated reserves do not include an estimate for the administrative costs of adjusting
claims and have not been discounted to present value. All other estimated reserves are
net of anticipated salvage and subrogation and second injury fund recoveries.

The estimate of class (b) liabilities at June 30, 2012 was calculated using data as of
September 30, 2008. Reliance engaged PriceWaterhouseCoopers LLP to perform an
analysis of loss and allocated loss expense reserves on direct business. The selected
best estimate, reflected in the Special Purpose Statements of Assets and Liabilities,
represents one possible value in a range of acceptable estimates. Estimates of ultimate
loss and allocated loss adjustment expenses have not been updated to reflect any loss
experience subsequent to September 30, 2008.

There are numerous factors that contribute to the inherent uncertainty in the process of
establishing loss reserves. Among these factors are changes in the inflation rate
related to covered damages such as medical care; changes in judicial interpretation of
policy provisions; changes in the general attitude of juries in the determination of liability
and damages; legislative changes; changes in the medical condition of claimants; and
changes in the estimates of the number and/or severity of claims that have been
incurred but not reported. In addition, Reliance’s regulatory status increases the
variability of loss reserves due to its effect on data quality and credibility. The ultimate
liability to class (b) claimants will be based solely on POCs filed by claimants and the
Liquidator’s determination of their value. Due to the inherent complexity of the loss
reserving process, the potential variability of the assumptions used and the variability
resulting from Reliance’s regulatory status, the actual emergence of losses may be
significantly different than the amounts reflected in the June 30, 2012 and December
31, 2011 Special Purpose Statements of Assets and Liabilities.

Reinsurance recoverables represents an estimate of the portion of gross loss reserves
that will be recovered from reinsurers. Amounts recoverable from reinsurers are
estimated in a manner consistent with the gross losses associated with the reinsured
policies. A provision for estimated uncollectible reinsurance is recorded based on an
evaluation of balances due from reinsurers, changes in the credit standing of the
reinsurers, existing coverage disputes as well as an estimate of future disputes with
reinsurers and permitted offsets of assumed reinsurance. In light of the inherent
uncertainties relating to future insolvencies, settlement compromises and dispute
resolutions, the actual uncollectible amounts and offsets may be significantly different
than the reserve included in the Special Purpose Statement of Assets and Liabilities.

Note 8 – Early access advances to GAs
During 2003, 2004, 2005, 2007 and 2010, the Commonwealth Court approved Early
Access petitions in accordance with Section §221.36 of the Act which provides a
mechanism for early distribution of assets to various state GAs to assist those
associations in fulfilling their obligation to pay certain policy claims of the Estate. The
related agreements executed by the GAs provide that they agree to return assets under
certain circumstances to ensure pro rata distributions amongst members of the same
class of creditors of Reliance.

Payments made to various state GAs under Early Access petitions are recorded as
assets in the accompanying Special Purpose Statement of Assets and Liabilities as they
represent payments made in advance of distributions to other claimants. GA advances
will be reclassified and no longer recorded as assets when the Commonwealth Court of
Pennsylvania approves the distributions to the GAs.

At June 30, 2012 total early access amounts include early access cash payments to the
GAs of $1.65 billion, statutory deposits of $420 million, and payments made by Reliance
on behalf of certain GAs shortly after October 3, 2001.

Note 9 – Secured Creditors – Funds held
Funds held represent liabilities arising from cash received as collateral on large
deductible policies and reinsurance contracts. Funds held liabilities relating to collateral
are expected to continue to decrease as policyholders and reinsurers honor their
obligations under policies and contracts and the related cash collateral is released.
Cash collateral related to large deductible policies is included in “Other assets” in the
Special Purpose Statements of Assets and Liabilities.

Note 10 - Guaranty Association expenses unpaid
Guaranty Association expenses unpaid represent total GA submitted expenses to
Reliance less the portion reimbursed. Reliance conducts periodic desk and on-site
reviews of GA administrative expenses to verify the validity of these expenses. The
majority of the unpaid amounts will be valid class (a) expenses and will be reimbursed
to the GAs. Reliance withholds payment of expenses it believes are not valid
administrative expenses. There will likely be certain disagreements between the
Liquidator and the GAs that will be addressed and resolved by the Court.

Note 11 – Class (a) other liabilities
Class (a) other liabilities are principally outstanding checks.

Note 12 – Guaranty Association paid losses
Guaranty Association paid losses include payments reported by GAs and processed in
the Estate’s operating systems.

Note 13 – Guaranty Association reported reserves
Guaranty Association reported reserves include case reserves reported by GAs and
processed in the Estate’s operating systems.

Note 14 – Notices of Determination issued
NODs are issued by the Estate in response to a POC filed against the Estate. The
NOD includes the classification and value, if any, of the claim as determined by the
Estate. NODs issued by the Estate are subject to an objection period, during which the
claimant can disagree with the value and classification assigned, and NODs are subject
to Court approval. NODs are included in the Special Purpose Statements of Assets and
Liabilities when issued.


Note 15 – Asset distributions to class (b) creditors
On December 1, 2011, the Court approved the Liquidator’s Petition for a Second Interim
Distribution, allowing a 40% distribution to all class (b) claimants whose NODs has been
approved by the Court. Distribution amounts for claims under Aggregate Policies were
subject to an adjustment calculated pursuant to the Orders issued by the Court on
November 19, 2007, February 23, 2010 and December 9, 2011 approving the
Liquidator’s Petitions to Address Claims Under Aggregate Policies. Asset distributions
through June 30, 2012 and December 31, 2011 totaled $306.8 and $287.6 million,
respectively. Distribution payments will continue to be issued on a quarterly basis to
claimants whose NODs are subsequently approved by the Court.

Note 16 – Reduction for aggregate policies
The reduction for aggregate policies represents an adjustment to the distribution
calculation to interim distributions on NODs under aggregate policies to ensure pro-rata
distribution amongst all claimants on the policies. An aggregate limit is a provision in
the policy that limits the maximum liability of an insurer under that policy. In
accordance with the Act Section §221.40(d), claims under an aggregate limit policy that
exceeds the aggregate limit in total should be reduced by a proportional amount such
that the total equals the policy limit. As the ultimate losses under these polices have not
yet been determined, the ultimate proportional share each claim should receive cannot
be determined. Reliance has therefore adjusted the distribution amount by a safety
factor approved by the Court for claims under policies with an aggregate limit to allow
for potential adverse development that may cause the proportional share of individual
claims to change.

Note 17 – Commitments
As of June 30, 2012, Reliance leases office space under operating leases primarily
expiring in 2013. The minimum future rental payments under noncancelable operating
leases as of June 30, 2012, are as follows (in millions):

                               2012                 0.5
                               2013                 1.0
                               Total                1.5


Note 18 – Litigation
The Estate is a party to litigation both as a plaintiff and as a defendant. The ultimate
effect of litigation on the financial condition of the Estate is uncertain and cannot be
reasonably estimated, but may be material.

Note 19 – Other collateral held
The Estate holds significant levels of other collateral from policyholders and reinsurers
in the form of letters of credit and surety bonds. This collateral is not included in the
Special Purpose Statement of Assets and Liabilities and will be utilized when payment
and other obligations under policies and contracts are not honored by the policyholders
or reinsurers.
Exhibit E
RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
REINSURANCE RECEIVABLE
JUNE 30, 2012 - UNAUDITED




REINSURANCE COMPANY NAME

OFFSHORE MARINE INDEMNITY CO.                     $9,957,909
PHOENIX LIFE INS CO.                               5,958,675
WESTPORT INS. CO. (FKA ERC)                        2,850,842
HIH CASUALTY & GENERAL INS CO.                     2,218,909
CONN. GENERAL LIFE INS. CO.                        2,105,710
HARTFORD FIRE INSURANCE CO.                        2,068,733
SWISS REINSURANCE AMERICA CORP                     1,613,625
SWISS RE LIFE & HEALTH AMERICA                     1,559,292
FREMONT INDEMNITY CO.                              1,401,034
GENERAL REINSURANCE CORP                           1,345,314
CSC ASSURANCE LTD                                  1,301,071
EXCALIBUR REINSURANCE CORP                         1,047,078

RECEIVABLES OVER $1 MILLION                       33,428,193   86%

RECEIVABLES UNDER $1 MILLION                       5,360,875   14%

TOTAL RECEIVABLES                             $   38,789,068   100%
Exhibit F
RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
OPERATING EXPENSE ANALYSIS - UNAUDITED

                                         Year to Date            Actual to                 Year to Date
                                          June 2012               Budget           %        June 2011         Variance to         %
                                     Actual        Budget        Variance        Change       Actual          Prior Year        Change

Salaries
 Regular Salaries                     $8,520,266    $8,543,318      ($23,052)     -0.27%      $9,719,799      ($1,199,533)      -12.34%
 Performance-Retention Incentives      4,557,740     4,557,740              0      0.00%       4,945,709         (387,969)       -7.84%
 Severance                               816,677       823,542        (6,865)     -0.83%         869,874          (53,197)       -6.12%
 Total Salaries                       13,894,683    13,924,600       (29,917)     -0.21%      15,535,382       (1,640,699)      -10.56%

Employee Benefits
 Health and Disability Benefits          800,784       831,600       (30,816)    -3.71%          972,128         (171,344)      -17.63%
 SIP-Contributions and Fees            1,057,175     1,085,000       (27,825)    -2.56%        1,197,398         (140,223)      -11.71%
 Other Benefits                            9,843         8,100          1,743    21.52%           12,591           (2,748)      -21.83%
 Total Employee Benefits               1,867,802     1,924,700       (56,898)    -2.96%        2,182,117         (314,315)      -14.40%

Payroll Taxes                           980,586      1,051,282       (70,696)     -6.72%       1,117,517         (136,931)      -12.25%

Total Salaries, Benefits and Taxes    16,743,071    16,900,582      (157,511)     -0.93%      18,835,016        (2,091,945)     -11.11%

IT Services                            2,716,409     2,716,704          (295)     -0.01%       3,351,808         (635,399)      -18.96%

Legal Fees                             1,109,635      804,375        305,260     37.95%          692,757           416,878       60.18%

Professional and Other Services        2,353,598     2,370,794       (17,196)     -0.73%       2,400,303           (46,705)      -1.95%

Rent
 Corporate Home Office                   697,492       710,480       (12,988)    -1.83%          966,903         (269,411) -27.86%
 Record Archiving Services               286,853       298,500       (11,647)    -3.90%          306,106          (19,253)  -6.29%
 Other Rent Items                        129,841       105,770         24,071    22.76%           12,476           117,365 940.73%
 Total Rent                            1,114,186     1,114,750          (564)    -0.05%        1,285,485         (171,299) -13.33%

Other Operating
 Travel                                  34,360        59,293        (24,933)    -42.05%          42,181            (7,821)     -18.54%
 Professional Dues & Conferences         10,900        19,022         (8,122)    -42.70%          17,654            (6,754)     -38.26%
 Insurance                              103,147       133,500        (30,353)    -22.74%         147,488           (44,341)     -30.06%
 Voice and Data Communication           142,024       163,070        (21,046)    -12.91%         164,530           (22,506)     -13.68%
 Supplies and Subscriptions              74,485        83,642         (9,157)    -10.95%          53,677             20,808      38.77%
 Postage, Freight & Express               9,761        22,615        (12,854)    -56.84%          10,006              (245)      -2.45%
 Office Machine Rent & Repair             4,533         5,950         (1,417)    -23.82%           6,815            (2,282)     -33.48%
 Bank Charges                            40,180        41,050           (870)     -2.12%          46,229            (6,049)     -13.08%
 Total Other Operating                  437,108       555,592       (118,484)    -21.33%         522,808           (85,700)     -16.39%

Subtotal                              24,474,007    24,462,797         11,210     0.05%       27,088,177        (2,614,170)      -9.65%

Guaranty Association Expenses                 0             0                0    0.00%                   0                 0    0.00%

Total Operating Expenses             $24,474,007   $24,462,797       $11,210      0.05%      $27,088,177       ($2,614,170)      -9.65%

Loss/LAE                                398,499      1,145,649      (747,150) -65.22%            861,998         (463,499)      -53.77%




    See accompanying notes.
Exhibit G
RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
LEGAL FEES AND EXPENSES (EXCLUDING ALAE)
FOR THE PERIOD JANUARY 1, 2012 TO JUNE 30, 2012 - UNAUDITED



VENDOR NAME

 BLANK ROME LLP                                               $90,610
 BRAVERMAN KASKEY                                               5,190
 CASSELS BROCK & BLACKWELL LLP                                  5,009
 CUNNINGHAM LINDSEY US INC                                     22,094
 DEBRA J HALL ESQ                                              60,979
 DEUTSCH, KERRIGAN & STILES LLP                                36,404
 DUANE MORRIS LLP                                              56,175
 MARY ELLEN BURNS                                               5,000
 OBERMAYER REBMANN MAXWELL & HIPPEL, LLP.                      27,422
 PEPPER HAMILTON LLP.                                         544,151
 SCRIBNER, HALL & THOMPSON, LLP.                               45,368
 STRADLEY RONON STEVENS & YOUNG LLP                           190,939
TOTAL VENDORS UNDER $5,000                                     20,296

TOTAL LEGAL FEES AND EXPENSES (EXCLUDING ALAE)           $1,109,635
Exhibit H
RELIANCE INSURANCE COMPANY (IN LIQUIDATION)
PROFESSIONAL SERVICE EXPENSES
FOR THE PERIOD JANUARY 1, 2012 TO JUNE 30, 2012 - UNAUDITED




VENDOR NAME

APETROP USA, INC                                              $13,581
BMS INTERMEDIARIES, LTD.                                      356,192
BNY MELLON CASH INVESTMENT STRATEGIES                          47,367
CALLAN ASSOCIATES INC.                                         51,225
CERIDIAN CORPORATION                                           16,348
DORANNE BIGELOW & ASSOCIATES INC                               27,769
ERNST & YOUNG                                                 180,963
FEDERATED INVESTORS INC                                        52,694
FILEX DOCUMENT IMAGING SERVICES, INC.                         112,464
JP MORGAN INVESTMENT MANAGEMENT INC                           201,199
MELANDER GROUP LLC / ROY MELANDER                              15,750
PA. DEP'T. - LIQUIDATION CONSULTANTS                           20,317
PA. DEP'T. - OFFICE OF LIQUIDATIONS                            60,038
PYRAMIS GLOBAL ADVISORS TRUST COMPANY                         380,553
STANDISH MELLON ASSET MANAGEMENT COMPANY LLC                  257,354
SUNGARD AVAILABILITY SERVICES LP                               30,555
THE BANK OF NEW YORK MELLON                                   180,612
WESTERN ASSET MANAGEMENT COMPANY                              329,299
WORLDWIDE CLAIMS MANAGEMENT SERVICES, INC.                     12,400
TOTAL OTHER VENDORS UNDER $5,000                                6,918

TOTAL PROFESSIONAL SERVICE EXPENSES                     $2,353,598
Exhibit I
                                       Proof Of Claim Statistics - Inception To Date
                                                      June 30, 2012


                                                       POCs                      LIQUIDATOR              NODs        NODs AMOUNT
                                  TOTAL POCs                      TOTAL NODs
CLASS DESCRIPTION                                    RECEIVED                     ALLOWED           APPROVED FOR     APPROVED FOR
                                   RECEIVED                         ISSUED
                                                   AFTER 12-31-03                 AMOUNTS            DISTRIBUTION     DISTRIBUTION


NO CLASS ASSIGNED                              0               0            0               $0.00               0               $0.00

A - ADMIN COSTS AND EXPENSES              4,005              397        3,792               $0.00            3,774              $0.00

B - POLICY HOLDER CLAIMS                 61,266             3,744      58,952     $885,830,982.33           58,789    $875,520,497.79

C - FEDERAL GOVT                               9               0            9               $0.00               9               $0.00

D - EMPLOYEES                                  0               0            0               $0.00               0               $0.00

E - GEN CREDITORS/UNEARNED PREM          65,461             3,701      65,051      $80,193,786.25           64,449     $72,168,669.34

F - STATE/LOCAL GOVT                        189                3          189           $7,039.85             189           $7,039.85

G - LATE FILED/SUBROGATION               29,365             3,710      28,906      $26,149,945.02           28,454     $18,354,747.16

H - SURPLUS, PREM REFUNDS                      0               0            0               $0.00               0               $0.00

I - SHAREHOLDERS, OTHER OWNERS                 3               0            3               $0.00               3               $0.00

TOTAL:                                  160,298            11,555     156,902     $992,181,753.45          155,667    $966,050,954.14

                                  INCEPTION TO
OTHER COUNTS
                                      DATE

POCs With Claims at GAs                   1,046

Contingent Unliquidated POCs                830

Ready to Evaluate                           110

Awaiting Information                      1,410

TOTAL:                                    3,396
Exhibit J
                                     Proof Of Claim Statistics - Quarter To Date
                                                   June 30, 2012


                                                    TOTAL                                                 NODs AMOUNT
                                  TOTAL POCs                       LIQUIDATOR         NODs APPROVED FOR
CLASS DESCRIPTION                                   NODs                                                  APPROVED FOR
                                   RECEIVED                     ALLOWED AMOUNTS          DISTRIBUTION
                                                   ISSUED                                                  DISTRIBUTION

NO CLASS ASSIGNED                              0            0                 $0.00                   0                $0.00

A - ADMIN COSTS AND EXPENSES                   0            5                 $0.00                   1                $0.00

B - POLICY HOLDER CLAIMS                       7       100           $12,819,463.84                 358       $25,610,706.24

C - FEDERAL GOVT                               0            0                 $0.00                   0                $0.00

D - EMPLOYEES                                  0            0                 $0.00                   0                $0.00

E - GEN CREDITORS/UNEARNED PREM                3       267             $240,252.51                  150         $633,707.87

F - STATE/LOCAL GOVT                           0            0                 $0.00                   0                $0.00

G - LATE FILED/SUBROGATION                  13         415            $7,762,033.25                 156        $1,933,747.66

H - SURPLUS, PREM REFUNDS                      0            0                 $0.00                   0                $0.00

I - SHAREHOLDERS, OTHER OWNERS                 0            0                 $0.00                   0                $0.00

TOTAL:                                      23         787           $20,821,749.60                 665       $28,178,161.77
Exhibit K
                              Status of POCs as of 06-30-2012
                                        Total:160,298
                  POCs with Claims at GAs,     Ready to Evaluate, 110
                           1,046
                                                                Awaiting Information, 1,410
Contingent Unliquidated
      POCs, 830




                                                                              Total NODs Issued, 156,902
Exhibit L
                      Status of NOD Objections Received Through 06-30-2012
                                               Total 1,366


                                                                              NUMBER OF OBJECTIONS
                 NUMBER OF OBJECTIONS                                        UNRESOLVED ASSIGNED TO
              UNRESOLVED NOT ASSIGNED TO                                          REFEREES - 145
                      REFEREES -17




NUMBER OF NOD OBJECTIONS
     RESOLVED - 1,204
Exhibit M
                                                                  Objection Statistics - Inception To Date
                                                                              June 30, 2012

                                  NUMBER OF NOD      LIQUIDATOR ALLOWED                                LIQUIDATOR ALLOWED
                                                                                 NUMBER OF NOD
CLASS DESCRIPTION                  OBJECTIONS            AMOUNTS ON                                   AMOUNTS ON OBJECTIONS
                                                                              OBJECTIONS RESOLVED
                                    RECEIVED         OBJECTIONS RECEIVED                                    RESOLVED

NO CLASS ASSIGNED                               0                    $0.00                       0                       $0.00

A - ADMIN COSTS AND EXPENSES                 141                   $518.00                     141                     $518.00

B - POLICY HOLDER CLAIMS                     303             $25,555,724.00                    261               $25,305,724.00

C - FEDERAL GOVT                                0                    $0.00                       0                       $0.00

D - EMPLOYEES                                   0                    $0.00                       0                       $0.00

E - GEN CREDITORS/UNEARNED PREM              862             $15,074,086.79                    742               $12,630,545.85

F - STATE/LOCAL GOVT                            1                    $0.00                       1                       $0.00

G - LATE FILED/SUBROGATION                      59             $736,353.50                      59                 $736,353.50

H - SURPLUS, PREM REFUNDS                       0                    $0.00                       0                       $0.00

I - SHAREHOLDERS, OTHER OWNERS                  0                    $0.00                       0                       $0.00

TOTAL:                                     1,366             $41,366,682.29                   1,204              $38,673,141.35

                                                     LIQUIDATOR ALLOWED                              LIQUIDATOR ALLOWED                                  LIQUIDATOR ALLOWED
                                    NUMBER OF                                 NUMBER OF OBJECTIONS                                NUMBER OF OBJECTIONS
                                                         AMOUNTS ON                                AMOUNTS ON OBJECTIONS                                AMOUNTS ON OBJECTIONS
CLASS DESCRIPTION                  OBJECTIONS                                 UNRESOLVED ASSIGNED                                    UNRESOLVED NOT
                                                         OBJECTIONS                                UNRESOLVED ASSIGNED TO                              UNRESOLVED NOT ASSIGNED
                                   UNRESOLVED                                     TO REFEREES                                     ASSIGNED TO REFEREES
                                                         UNRESOLVED                                        REFEREES                                          TO REFEREES

NO CLASS ASSIGNED                               0                    $0.00                       0                       $0.00                       0                     $0.00

A - ADMIN COSTS AND EXPENSES                    0                    $0.00                       0                       $0.00                       0                     $0.00

B - POLICY HOLDER CLAIMS                        42             $250,000.00                      25                       $0.00                      17               $250,000.00

C - FEDERAL GOVT                                0                    $0.00                       0                       $0.00                       0                     $0.00

D - EMPLOYEES                                   0                    $0.00                       0                       $0.00                       0                     $0.00

E - GEN CREDITORS/UNEARNED PREM              120              $2,443,540.94                    120                $2,443,540.94                      0                     $0.00

F - STATE/LOCAL GOVT                            0                    $0.00                       0                       $0.00                       0                     $0.00

G - LATE FILED/SUBROGATION                      0                    $0.00                       0                       $0.00                       0                     $0.00

H - SURPLUS, PREM REFUNDS                       0                    $0.00                       0                       $0.00                       0                     $0.00

I - SHAREHOLDERS, OTHER OWNERS                  0                    $0.00                       0                       $0.00                       0                     $0.00

TOTAL:                                       162              $2,693,540.94                    145                $2,443,540.94                     17               $250,000.00
Exhibit N
                                         Guaranty Association Data as of
                                                 June 30, 2012

                                        CLAIMS & ALAE       CLAIMS & ALAE
STATE                      LOCATION                                            ADMIN EXPENSES       TOTAL BY STATE
                                             PAID             RESERVES
ALABAMA                           P&C       57,778,498.55        64,403,651.05      6,855,016.66        129,037,166.26
ALASKA                            P&C       10,597,537.94         8,096,155.18         866,934.69        19,560,627.81
ARIZONA                           P&C        6,326,239.66            30,777.70       1,864,439.51         8,221,456.87
ARIZONA                            WC        9,170,656.53        11,082,771.60               0.00        20,253,428.13
ARKANSAS                          P&C        7,174,294.84         1,151,304.91         408,021.39         8,733,621.14
CALIFORNIA                        P&C      679,939,953.46       188,367,411.78     81,833,314.84        950,140,680.08
COLORADO                          P&C       24,289,438.64        27,373,901.39      2,057,014.00         53,720,354.03
CONNECTICUT                       P&C       48,646,572.49        20,447,426.73      6,254,154.72         75,348,153.94
DELAWARE                          P&C        5,549,115.80         4,336,657.21      1,389,749.10         11,275,522.11
DISTRICT OF COLUMBIA              P&C       12,582,646.10        20,190,057.58      1,113,989.20         33,886,692.88
FLORIDA                           P&C       84,640,983.44           134,142.89      4,416,242.03         89,191,368.36
FLORIDA                            WC      250,941,114.81        46,903,912.63      7,704,023.31        305,549,050.75
GEORGIA                           P&C       51,044,618.89        29,613,304.03      5,345,410.02         86,003,332.94
HAWAII                            P&C        6,014,296.89         2,330,870.53         756,229.59         9,101,397.01
IDAHO                             P&C        2,477,141.90         1,468,469.73         298,152.00         4,243,763.63
ILLINOIS                          P&C       54,616,355.92         3,212,431.21      9,549,778.15         67,378,565.28
INDIANA                           P&C        5,810,640.19           470,768.85      1,440,587.46          7,721,996.50
IOWA                              P&C       10,579,063.46           701,877.98         959,029.61        12,239,971.05
KANSAS                            P&C       16,913,382.01         5,135,547.07      1,192,617.00         23,241,546.08
KENTUCKY                          P&C       25,191,509.83        24,235,752.90      1,581,696.87         51,008,959.60
KENTUCKY                          L&H                0.00                 0.00           1,492.61             1,492.61
LOUISIANA                         P&C       66,899,189.90       134,653,153.15      2,027,415.84        203,579,758.89
MAINE                             P&C        5,148,229.97         5,277,708.39         944,119.28        11,370,057.64
MARYLAND                          P&C       33,926,159.80         8,033,215.75      8,313,178.41         50,272,553.96
MASSACHUSETTS                     P&C       50,393,652.73        33,913,745.77      6,508,232.11         90,815,630.61
MICHIGAN                          P&C       58,744,531.81        11,034,106.27      7,455,816.61         77,234,454.69
MINNESOTA                         P&C       17,577,956.30         4,093,219.94      1,835,551.86         23,506,728.10
MISSISSIPPI                       P&C       38,033,408.83        33,593,867.84      3,070,607.32         74,697,883.99
MISSOURI                          P&C       36,943,207.71         6,954,559.96      2,288,619.46         46,186,387.13
MONTANA                           P&C        4,371,033.89         2,205,935.24         549,019.00         7,125,988.13
NEBRASKA                          P&C        7,956,944.23         3,168,941.42         654,757.97        11,780,643.62
NEVADA                            P&C        8,211,860.57         5,073,453.94      1,813,295.84         15,098,610.35
NEW HAMPSHIRE                     L&H                0.00                 0.00          45,122.95            45,122.95
NEW HAMPSHIRE                     P&C       14,680,620.19        12,692,598.35      1,640,408.28         29,013,626.82
NEW JERSEY                        P&C       76,420,629.30         3,481,488.32      4,796,906.04         84,699,023.66
NEW JERSEY                         WC       51,199,032.13        20,032,672.24      2,210,012.75         73,441,717.12
NEW MEXICO                        P&C        7,612,615.73         2,542,061.01         692,808.32        10,847,485.06
NEW YORK                          P&C      332,023,746.63        31,083,084.84     71,011,540.00        434,118,371.47
NEW YORK                           WC      190,832,402.83        88,887,316.35               0.00       279,719,719.18
NOLHGA                                               0.00                 0.00       7,199,787.00         7,199,787.00
NORTH CAROLINA                    P&C       73,780,719.01        20,173,453.38      5,399,757.83         99,353,930.22
NORTH DAKOTA                      P&C          245,976.90                 0.00          64,036.01           310,012.91
OHIO                              P&C        9,384,932.04           463,374.88      2,012,891.50         11,861,198.42
OKLAHOMA                          P&C       19,848,075.87         8,218,993.20      2,324,774.29         30,391,843.36
OREGON                            P&C       23,469,194.40         7,663,882.31      1,059,732.18         32,192,808.89
PENNSYLVANIA                      P&C       40,513,394.86        12,584,425.60      2,160,211.40         55,258,031.86
PENNSYLVANIA                       WC      162,125,684.45        63,552,876.59     14,561,334.02        240,239,895.06
PUERTO RICO                       P&C        8,735,612.52           200,000.00         936,804.00         9,872,416.52
RHODE ISLAND                      P&C        9,903,003.00         2,646,829.84         932,501.64        13,482,334.48
SOUTH CAROLINA                    P&C       29,823,292.04         5,236,650.63      3,774,898.24         38,834,840.91
SOUTH DAKOTA                      P&C        1,782,424.67                 0.00         155,798.39         1,938,223.06
TENNESSEE                         P&C       39,294,798.75        25,881,596.75      5,256,413.81         70,432,809.31
TEXAS                             P&C      144,404,513.68        77,749,972.72     18,504,675.63        240,659,162.03
UTAH                              P&C        9,320,037.68         3,829,507.87      1,175,699.38         14,325,244.93
VERMONT                           P&C        8,415,445.45         9,158,585.79         629,569.78        18,203,601.02
VIRGIN ISLANDS                    P&C          608,275.89            49,951.00               0.00           658,226.89
VIRGINIA                          P&C       39,028,278.35        23,945,888.75      3,778,459.22         66,752,626.32
WASHINGTON                        P&C       31,635,853.44         1,907,074.91      2,978,417.00         36,521,345.35
WEST VIRGINIA                     P&C        3,578,889.10                 0.00         383,381.59         3,962,270.69
WISCONSIN                         P&C       11,164,359.78         3,191,669.44      1,792,165.39         16,148,194.61
WYOMING                           P&C          487,998.22                 0.00         129,900.00           617,898.22
                                         3,038,810,044.00     1,132,863,055.39    326,956,513.10      4,498,629,612.49

** New York WC and NY P&C Administractive Expenses are combined and reported under NY P&C
Exhibit O
          0
              500
                    1,000
                            1,500
                                    2,000
                                            2,500
                                                    3,000
                                                            3,500
                                                                    4,000
                                                                            4,500
                                                                                    5,000
Nov-01
Dec-01
Mar-02
Jun-02
Sep-02
Dec-02
Mar-03
Jun-03
Sep-03
Dec-03
Mar-04
Jun-04
Sep-04
Dec-04
Mar-05
Jun-05
Sep-05
Dec-05
Mar-06
Jun-06
Sep-06
Dec-06
Mar-07
Jun-07
                                                                                            GA Paid to Date




Sep-07
Dec-07
                                                                                                              in millions




Mar-08
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
                                                                                            GA Reserves




Sep-09
Dec-09
Mar-10
                                                                                                                            Cumulative GA Activity through 06/30/2012




Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
 Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12

				
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