Nature knows size and survival are independent Demotech Inc

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					         Demotech, Inc.
Analysis of Risk Retention Groups
       Second Quarter 2011




                                    ®
         DRAGONFLY:                                         T-REX:
    300 MILLION YEARS OLD                                  EXTINCT




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




                                                                       ®
                                          Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                                       Address                                City        State      Zip       Statement Contact                Phone                State of
                                                                                                                                                                                                       Domicile
 12934   ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK          1250 Broadway, Suite 3401            New York       NY     10001-3713   Claire Veronica Oyelaja          (646) 808-0596          VT
         RETENTION GROUP

 12557   ACBG RISK RETENTION GROUP, LLC                                  100 Bank Street, Suite 610          Burlington      VT     05401-4946   Linda B. Elliott                 (802) 864-2750          VT

 12166   ADVANCED PHYSICIANS INS RRG INC                                 2700 North Third Street, Suite        Phoenix       AZ     85004-4620   Ed Caldwell                      (602) 200-6900         AZ
                                                                         3050

 12252   AEGIS HEALTHCARE RRG, INC.                                      555 Fairmount Avenue                 Baltimore      MD     21286-5417   Barbara Labuskes                 (410) 339-7263x120     DC

 13677   AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP         100 Bank Street, Suite 610          Burlington      VT     05401-4946   Jay E. Curtis                    (802) 864-6301          VT

 13606   AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP 1707 Village Center Circle, Suite         Las Vegas      NV     89134-0515   Rick O'Brien                     (702) 938-3175         NV
                                                                    100

 28380   AGRI INSURANCE EXCHANGE RRG                                     5825 Lawton Loop East Drive         Indianapolis    IN     46216-1064   P. Dean Denhart                  (317) 541-1800          IN

 11965   ALLEGIANT INS CO INC A RRG                                      745 Fort Street, Suite 1100          Honolulu       HI     96813-3800   Mark Hironaga                    (808) 585-3526          HI

 10023   ALLIANCE OF NONPROFITS FOR INS RRG                              2386 Airport Road                      Barre        VT     05641-8629   Cindy L. Lyford                  (802) 371-2227          VT

 11710   ALLIED PROFESSIONALS INSURANCE COMPANY, RRG                     1100 West Town & Country              Orange        CA     92868-4655   Douglas Joseph Hauser            (714) 571-1864         AZ
                                                                         Road, Suite 1400

 12013   ALLIED SERVICES RISK RETENTION GROUP                            Building C, 1327 Ashley River       Charleston      SC     29407-5384   Len T. Logan                     (877) 872-7475          SC
                                                                         Road, Suite 200

 10232   AMERICAN ASSOC OF OTHODONTISTS RRG                              15615 North 71st Street, Suite       Scottsdale     AZ     85254-2150   Rebecca J. Aitchison             (802) 371-2229         AZ
                                                                         103

 12631   AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.                   Crowne Plaza, 27 North 27th           Billings      MT     59101-2343   Katie Gray                       (800) 226-0793         MT
                                                                         Street, Suite 1900

 12300   AMERICAN CONTRACTORS INS CO RRG                                 12222 Merit Drive, Suite 1660          Dallas       TX     75251-3212   Suzanne Walsh                    (800) 563-6051          TX

 10903   AMERICAN EXCESS INS EXCHANGE RRG                                12554 High Bluff Drive, Suite 430   San Diego       CA       92130      Kathryn Michener Boucher         (802) 863-4400          VT

 44202   AMERICAN FEED INDUSTRY INS CO RRG                               4685 Merle Hay Road, Suite 200      Des Moines      IA     50322-1982   Susan P. Tingleff                (515) 254-0400          IA

 11590   AMERICAN FOREST CAS CO RRG                                      1800 Second Street, Suite 909        Sarasota       FL     34236-5998   Teresa Marie Matthews            (941) 955-0793          SC

 25448   AMERICAN SAFETY RRG INC                                         100 Galleria Parkway, SE, Suite       Atlanta       GA     30339-5947   Matthew Robert Pollak            (770) 568-3000          VT
                                                                         700

 11534   AMERICAN TRUCKING AND TRANSPORTATION INSURANCE                  111 North Higgins Avenue,            Missoula       MT     59802-4437   Patricia Lorraine Maloney        (406) 523-3908         MT
         COMPANY, RRG                                                    Fourth Floor

 12171   AMERIGUARD RRG INC                                              2386 Airport Road                      Barre        VT     05641-8629   Scott C. Stone                   (802) 371-2231          VT

 11598   APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.                        1850 North Central Avenue,            Phoenix       AZ     85004-4574   Lee M. Milizia                   (602) 427-3208         AZ
                                                                         Suite 1700

 13177   ARCOA RISK RETENTION GROUP, INC.                                1325 Airmotive Way, Suite 100          Reno         NV     89502-3294   Michelle Renee Trimble           (602) 263-6755x427     NV

 13580   ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK              1700 Eastpoint Parkway               Louisville     KY     40223-4140   James R. Mueller                 (502) 244-1343          KY
         RETENTION GROUP

 14005   ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION            27 North 27th Street, Suite 1900      Billings      MT     59101-2343   John S. Maloney                  (718) 937-2010         MT
         GROUP, LLC

 12224   ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.             177 Meeting Street, Suite 470       Charleston      SC     29401-3160   Virginia Adrihan                 (843) 853-0446x205      SC


The most current FSRs must be verified by visiting www.demotech.com.                                                                                                         2nd Quarter 2011 - RRG Analysis
                                         Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                                  Address                                 City         State      Zip       Statement Contact               Phone                State of
                                                                                                                                                                                                   Domicile
 33677   ATTORNEYS INS MUTUAL OF ALABAMA INC                        200 Inverness Parkway               Birmingham        AL     35242-4813   Melanie T. Dixon                (205) 980-0009         DC

 22670   ATTORNEYS INSURANCE MUTUAL RRG INC                         140 Kennedy Drive                 South Burlington    VT     05403-6710   Karen M. Venner                 (802) 651-3377          HI

 10639   ATTORNEYS LIAB ASSUR SOCIETY INC RRG                       311 South Wacker Drive, Suite         Chicago         IL     60606-6629   Keith Russell Craven            (312) 697-6950          VT
                                                                    5700

 32450   ATTORNEYS LIAB PROTECTION SOC RRG                          Florence Building, 111 North          Missoula        MT     59802-4401   Mary Patricia Nordhagen         (406) 728-3113         MT
                                                                    Higgins Avenue, Suite 200

 13795   ATTPRO RRG RECIPROCAL RISK RETENTION GROUP                 1050 K Street, NW, Suite 400        Washington        DC     20001-4448   Garrett James Davenport         (260) 486-0418         DC

 11033   AUTOMOTIVE UNDERWRITERS INS CO A RRG                       5430 West Sahara Avenue              Las Vegas        NV     89146-3307   Bjorn K. Hubbard                (800) 226-0793x329     NV

 13791   AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.     111 North Higgins Avenue,             Missoula        MT     59802-4401   Daniel John Seman               (406) 523-3873         MT
                                                                    Suite 200

 10174   BAR VERMONT RISK RETENTION GROUP INC                       76 Saint Paul Street, Suite 500     Burlington        VT     05401-4477   Jeremiah Mahaney                (802) 264-4715          VT

 12933   BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.              40 Main Street, Suite 200           Burlington        VT     05401-8492   Tara Jean Smith                 (802) 735-1679          VT

 13010   BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP 5430 West Sahara Avenue               Las Vegas        NV     89146-3307   Michael T. Rogers               (702) 678-6868         NV

 13788   BROADLINE RISK RETENTION GROUP, INC.                       100 Bank Street, Suite 610          Burlington        VT     05401-4946   Melissa H. Larose               (802) 864-1716          VT

 44504   CALIFORNIA HEALTHCARE INS CO INC RRG                       9229 Sierra College Boulevard         Roseville       CA     95661-5919   Jeffrey Dueck                   (916) 772-5110          HI

 11825   CARE RRG INC                                               2233 Wisconsin Avenue, NW,          Washington        DC     20007-4104   Charles Halstead-Johnson        (802) 223-2200         DC
                                                                    Suite 310

 11544   CAREGIVERS UNITED LIAB INS CO RRG                          Building C, 1327 Ashley River       Charleston        SC     29407-5384   Kim Connelly Bloomer            (802) 371-2251          SC
                                                                    Road, Suite 200

 12373   CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP      1850 West Winchester Road,           Libertyville     IL     60048-5355   Chad Curtis Swigert             (847) 549-8225         DC
                                                                    Suite 109

 10808   CASSATT RISK RETENTION GROUP INC                           76 Saint Paul Street, Suite 500     Burlington        VT     05401-4477   Scott Andrew Maille             (802) 264-4711          VT

 13784   CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP      111 North Higgins Avenue,             Missoula        MT     59802-4401   Daniel John Seman               (406) 523-3873         MT
                                                                    Suite 200

 11694   CENTRAL PA PHYSICIANS RRG INC                              177 Meeting Street, Suite 470       Charleston        SC     29401-3160   Virginia Adrihan                (843) 853-0446x205      SC

 11976   CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.           2700 North, Third Street, Suite       Phoenix         AZ     85004-1129   Gemma Agustin-Tuanqui           (800) 226-0793         AZ
                                                                    3050

 12167   CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG                15255 North 40th Street, Suite        Phoenix         AZ     85032-4638   Richard P. Marshall             (602) 952-9532         AZ
                                                                    109

 11065   CHATTAHOCHEE RRG CAPTIVE INS CO                            14382 US Highway 19, South          Thomasville       GA     31757-4801   Cory E. Brown                   (229) 226-1937x106     GA

 11531   CHC CAS RRG                                                100 Bank Street, Suite 610          Burlington        VT     05401-4946   Amy L. Daigle                   (802) 864-1717          VT

 12308   CIMARRON INSURANCE EXCHANGE RRG                            30 Main Street, Suite 450           Burlington        VT     05401-8427   Paula A. French                 (802) 371-2321          VT

 11839   CIRCLE STAR INS CO RRG                                     58 East View Lane, Suite Two            Barre         VT     05641-5324   Renee LaGue                     (802) 223-2200          VT

 12172   CLAIM PROFESSIONALS LIAB INS CO RRG                        17742 Irvine Boulevard, Suite          Tustin         CA     92780-3255   Ramon Robert Ramos V            (802) 371-2275          VT
                                                                    102




The most current FSRs must be verified by visiting www.demotech.com.                                                                                                     2nd Quarter 2011 - RRG Analysis
                                          Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                             Address                                  City          State      Zip       Statement Contact              Phone                State of
                                                                                                                                                                                               Domicile
 11992   CLARIAN HLTH RRG INC                                  340 West Tenth Street, Suite         Indianapolis       IN     46202-3082   Tonia Epps                     (843) 577-1034          SC
                                                               3100

 43770   CLINIC MUTUAL INSURANCE CO RRG                        1003 Bishop Street, Suite 1220        Honolulu          HI     96813-6436   Jason L. Palmer                (808) 521-0730          HI

 13756   CMIC RISK RETENTION GROUP                             30 Main Street, Suite 450             Burlington        VT     05401-8427   Tracy Lynn Stopford            (802) 371-2223         DC

 11668   COASTAL INS RRG INC                                   509 Oliver Road                     Montgomery          AL     36117-2207   John Mark Killingsworth        (334) 271-5515          AL

 44598   COLLEGE LIABILITY INS CO A RECIP RRG                  745 Fort Street, Suite 1100           Honolulu          HI     96813-3810   Scot Sterenberg                (808) 585-3591          HI

 13613   COLLEGE RISK RETENTION GROUP, INC.                    100 Bank Street, Suite 610            Burlington        VT     05401-4946   Jennifer L. Pettengill         (802) 864-2111          VT

 10803   COLUMBIA NATIONAL RRG INC                             100 Bank Street, Suite 610            Burlington        VT     05401-4946   John H. Raymond                (802) 864-2751          VT

 11864   COMCARE PRO INS RECIPROCAL RRG                        40 Main Street, Suite 200             Burlington        VT     05401-8492   Jonathan J. McKenzie           (802) 264-2073          VT

 11807   COMMUNITIES OF FAITH RRG INC                          2711 Middleburg Drive, Suite          Columbia          SC     29204-2475   Bjorn K. Hubbard               (800) 226-0793x329      SC
                                                               309-A

 13893   COMMUNITY BLOOD CENTERS EXCH RRG                      7015 College Boulevard, Suite       Overland Park       KS     66211-1671   J. Todd Rosenbaum              (502) 882-4459          IN
                                                               400

 11536   COMMUNITY HEALTH ALLIANCE RECIP RRG                   100 Bank Street, Suite 610            Burlington        VT     05401-4946   Rebecca S. Boudreau            (802) 864-1710          VT

 11259   COMMUNITY HOSPITAL RRG                                2547 Washington Road, 720          Upper Saint Clair    PA     15241-2557   Donna B. Normand               (802) 871-5063          VT
                                                               Summerfield Commons

 11528   CONSORTIUM RRG                                        150 Bank Street, Suite 201            Burlington        VT     05401-4411   Tara Jean Smith                (802) 735-1679          VT

 10075   CONSUMER SPECIALTIES INS CO RRG                       2386 Airport Road-Berlin                Barre           VT     05641-8629   Paula A. French                (802) 371-2321          VT

 11798   CONTINUING CARE RRG, INC.                             223-B Heatley Street                Moncks Corner       SC     29461-3781   Katie Gray                     (800) 226-0793          SC

 11603   CONTRACTORS INS CO OF NORTH AMER RRG                  201 Merchant Street, Suite 2400       Honolulu          HI     96813-2929   Stacey Gibbs                   (802) 264-4588          HI

 10341   CONTROLLED RISK INS CO OF VT RRG                      100 Bank Street, Suite 610            Burlington        VT     05401-4946   Melissa H. Larose              (802) 864-1716          VT

 10164   CPA MUTUAL INS CO OF AMERICA RRG                      40 Main Street, Suite 200             Burlington        VT     05401-8492   David D. Guerino               (802) 264-2060          VT

 13720   CROSSFIT RISK RETENTION GROUP, INC.                   111 North Sepulveda Boulevard,     Manhattan Beach      CA     90266-6849   Tony James Schmidt             (808) 988-3215         MT
                                                               Suite 243

 11676   CRUDEN BAY RRG INC                                    30 Main Street, Suite 450             Burlington        VT     05401-8427   Abigail M. Bernier             (802) 371-2233          VT

 13655   CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP           100 Blank Street, Suite 610           Burlington        VT       05401      John H. Raymond                (802) 864-2751          VT

 43125   DELAWARE PROFESSIONAL INSURANCE CO                    845 Third Avenue, 20th Floor          New York          NY     10022-6601   I. David Gordon                (212) 687-2525         DE

 13018   DOCTORS & SURGEONS NATIONAL RRG                       3370 Sugarloaf Parkway, Suite G-    Lawrenceville       GA     30044-5486   Sara Mary Carpenter            (706) 232-9591x12       KY
                                                               2/302

 11842   DUBOIS MEDICAL RRG                                    1200 G Street, NW, Suite 800         Washington         DC     20005-6705   Brian S. Kline                 (814) 375-6377         DC

 10115   EASTERN DENTISTS INS CO RRG                           148 College Street, Suite 204         Burlington        VT     05401-8476   Stephen M. Brown               (802) 861-2930          VT

 10125   ELITE TRANSPORTATION RRG INC                          15615 North 71st Street, Suite        Scottsdale        AZ     85254-2150   Rebecca J. Aitchison           (802) 371-2229         AZ
                                                               103




The most current FSRs must be verified by visiting www.demotech.com.                                                                                                 2nd Quarter 2011 - RRG Analysis
                                           Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                               Address                              City        State      Zip       Statement Contact           Phone                State of
                                                                                                                                                                                        Domicile
 12003   EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG   5430 West Sahara Avenue            Las Vegas      NV     89146-3307   Bjorn K. Hubbard            (800) 226-0793x329     NV
         (EMPAC)

 12015   EMERGENCY MEDICINE RRG INC                              151 Meeting Street, Suite 301      Charleston     SC     29401-2238   Mannu Luo                   (843) 577-1035          SC

 11714   EMERGENCY PHYSICIANS INS CO RRG                         1528 Eureka Road, Suite 102         Roseville     CA     95661-3047   Paul Shampay                (916) 772-2080         NV

 38466   EVERGREEN USA RRG INC                                   10 Falcon Road                     Lewiston       ME     04240-5833   Eric Gilcris                (802) 264-4577          VT

 11840   FAIRWAY PHYSICIANS INS CO RRG                           15255 North 40th Street, Suite      Phoenix       AZ     85032-4638   Richard P. Marshall         (602) 952-9532         DC
                                                                 109

 11698   FAITH AFFILIATED RRG INC                                One Poston Road, Suite 155         Charleston     SC     29407-3441   Kelly Bourne                (843) 614-3132          SC

 12938   FEDERAL MOTOR CARRIERS RISK RETENTION GROUP, INC.       19 North Bridge Avenue             Red Bank       NJ     07701-1012   Robert M. Willis            (202) 434-8763         DE

 10619   FIRST AUTOMOTIVE INS RRG INC                            2400 Louisiana Boulevard, NE      Albuquerque     NM     87110-4303   Larry K. Hinson             (505) 881-2244          HI

 11801   FIRST KEYSTONE RISK RETENTION GROUP, INC.               4421 Aramingo Avenue              Philadelphia    PA     19124-4101   Joseph Schmidt              (215) 235-5000          SC

 11278   FIRST MEDICAL INS CO RRG                                100 Bank Street, Suite 610         Burlington     VT     05401-4946   Jodi K. Guzzardo            (802) 864-6332          VT

 12625   FORT WAYNE MEDICAL SURETY COMPANY, RRG                  1850 North Central Avenue,          Phoenix       AZ     85004-4574   Lee M. Milizia              (602) 427-3208         AZ
                                                                 Suite 1700

 10842   FRANKLIN CASUALTY INS CO RRG                            100 Bank Street, Suite 610         Burlington     VT     05401-4946   Delisca A. Christian        (802) 864-2110          VT

 12016   FREDERICKSBURG PROFESSIONAL RISK EXC                    2386 Airport Road                    Barre        VT     05641-8629   Scott C. Stone              (802) 371-2231          VT

 12000   GEISINGER INS CORP RRG                                  76 Saint Paul Street, Suite 500    Burlington     VT     05401-4477   Ronda Lynn Devino           (802) 264-4593          VT

 10163   GENERAL EASTERN SKI INS RRG INC                         76 Saint Paul Street               Burlington     VT     05401-4470   Dyan O'Herne                (802) 264-4713          VT

 13782   GERIC INSURANCE RISK RETENTION GROUP, INC.              15615 North 71st Street, Suite     Scottsdale     AZ     85254-2150   Scott S. Brauer             (800) 872-7475          HI
                                                                 103

 11948   GLOBAL HAWK INSURANCE COMPANY RRG                       148 College Street, Suite 204      Burlington     VT     05401-8476   Stephen M. Brown            (802) 861-2930          VT

 10991   GLOBAL INTL INS CO INC A RRG                            607 14th Street, NW, Suite 900    Washington      DC     20005-2019   Steve Bevins                (802) 223-2200         DC

 11145   GOLDEN INS CO RRG                                       9121 West Russell Road, Suite      Las Vegas      NV     89148-1238   Len Clapp                   (303) 388-             NV
                                                                 113                                                                                               5688x1446

 12512   GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.     One Poston Road, Suite 155         Charleston     SC     29407-3441   Dawn M. Dinardo             (843) 614-3134          SC

 13973   GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK            5430 West Sahara Avenue            Las Vegas      NV     89146-3307   Andrew Carlton              (800) 223-0793         NV
         RETENTION GROUP, INC.

 11581   GRACO RRG INC                                           One Poston Road, Suite 155         Charleston     SC     29407-3441   Dawn M. Dinardo             (843) 614-3134          SC

 11941   GREEN HILLS INS CO RRG                                  100 Bank Street, Suite 610         Burlington     VT     05401-4946   Jeffrey M. Tucker           (802) 864-5599          VT

 11696   GUARDIAN RRG INC                                        40 Main Street, Suite 200          Burlington     VT     05401-8492   Jocelyn M. Lyman            (843) 694-9698         MT

 11970   GULF BUILDERS RRG INC                                   8300 North Hayden Road, Suite      Scottsdale     AZ     85258-2479   Todd Stewart                (480) 948-4351          SC
                                                                 A100

 12014   GUTHRIE RRG                                             151 Meeting Street, Suite 301      Charleston     SC     29401-2238   Jason McMillan              (843) 577-1032          SC

 13057   HAMDEN ASSURANCE RRG, INC.                              30 Main Street, Suite 330          Burlington     VT     05401-8427   Joseph Bernard Percy        (802) 419-1218          VT


The most current FSRs must be verified by visiting www.demotech.com.                                                                                          2nd Quarter 2011 - RRG Analysis
                                          Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                              Address                                City         State      Zip       Statement Contact            Phone                State of
                                                                                                                                                                                           Domicile
 12236   HEALTH CARE CAS RRG INC                                8725 West Higgins Road, Suite        Chicago         IL     60631-2734   Joseph Roger Herman          (773) 864-8280         DC
                                                                810

 11813   HEALTH NETWORK PROVIDERS MUT INS CO                    2233 Wisconsin Avenue, NW,         Washington        DC     20007-4104   Katie Gray                   (800) 226-0793         DC
                                                                Suite 310

 10080   HEALTH PROVIDERS INS RECIPROCAL RRG                    1003 Bishop Street, Suite 1220      Honolulu         HI     96813-6436   Jason L. Palmer              (808) 521-0730          HI

 11832   HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE     201 South Main Street, Suite 200    Ann Arbor        MI     48104-2153   Peter M. Feeney              (734) 996-2700         DC
         COMPANY, RRG (HEALTHCAP RRG)

 11683   HEALTHCARE PROVIDERS INS CO RRG                        Building C, 1327 Ashley River       Charleston       SC     29407-5384   Geoffrey Lewis Salmon        (404) 835-0454          SC
                                                                Road, Suite 200

 11998   HEARTLAND HEALTHCARE RECIP RRG                         40 Main Street, Suite 200           Burlington       VT     05401-8492   David D. Guerino             (802) 264-2060          VT

 11097   HERITAGE WARRANTY INS RRG INC                          Building C, 1327 Ashley River       Charleston       SC     29407-5384   Kim Connelly Bloomer         (802) 371-2251          SC
                                                                Road, Suite 200

 11950   HOME CONSTRUCTION INS CO RRG                           5430 West Sahara Avenue             Las Vegas        NV     89146-3307   Katie Gray                   (800) 226-0793         NV

 26797   HOUSING AUTHORITY RRG INC                              189 Commerce Court, P.O. Box         Cheshire        CT     06410-0189   Paulette Achilli             (203) 272-8220x442      VT
                                                                189

 41246   HOW INSURANCE COMPANY, A RISK RETENTION GROUP          11401 Century Oaks Terrace,           Austin         TX     78758-8702   Brenda J. Stewart            (512) 404-6555         VA
                                                                Suite 310

 11268   ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP   1401 H Street, NW, Suite 1000      Washington        DC     20005-2031   Charles Warren Behr          (202) 326-5464          VT

 12018   INDEMNITY INSURANCE CORPORATION, RRG                   950 Ridgebrook Road, Suite            Sparks         MD     21152-9390   Jeffrey Brian Cohen          (410) 472-6000         DE
                                                                1500

 11692   INDIANA HEALTHCARE RECIP RRG                           40 Main Street, Suite 200           Burlington       VT     05401-8492   Alihan Alihan                (802) 264-2074          VT

 11824   INTERMODAL INSURANCE COMPANY, RRG                      1800 Second Street, Suite 909        Sarasota        FL       34236      Teresa Marie Matthews        (941) 955-0793         DC
                                                                East

 12594   J.M. WOODWORTH RRG, INC.                               3655 Brookside Parkway, Suite       Alpharetta       GA     30022-1430   Donna K. Dalton              (678) 781-2400         NV
                                                                200

 11589   JAMESTOWN INS CO RRG                                   Building C, 1327 Ashley River       Charleston       SC     29407-5384   Jeffry M. delMas             (802) 371-2252          SC
                                                                Road, Suite 200

 12159   JOLIET AREA RRG CAPTIVE INS CO                         14382 US Highway 19, South         Thomasville       GA     31757-4801   Cory E. Brown                (229) 226-1937x106     GA

 11872   KENTUCKIANA MEDICAL RECIPROCAL RRG                     201 East Jefferson Street, Suite     Louisville      KY     40202-1250   Jay E. Curtis                (802) 864-6301          KY
                                                                104

 11939   KENTUCKY HOSPITAL INS CO RRG                           2501 Nelson Miller Parkway           Louisville      KY     40223-2221   Deborah Rose Riley           (502) 992-4329          KY

 11803   LAKE STREET RRG INC                                    76 Saint Paul Street, Suite 500     Burlington       VT     05401-4477   Theresa Mae Carpenter        (802) 862-4400          VT

 13014   LANCET INDEMNITY RISK RETENTION GROUP, INC.            5430 West Sahara Avenue             Las Vegas        NV     89146-3307   Gemma Agustin-Tuanqui        (800) 226-0793         NV

 11500   LENDERS PROTECTION ASSUR CO RRG                        1212 North 96th Street               Omaha           NE     68114-2274   Ronald Lee Wheeler           (402) 399-3325         NE

 11947   LEWIS & CLARK LTC RRG, INC                             3655 Brookside Parkway, Suite       Alpharetta       GA     30022-1429   Donna K. Dalton              (678) 781-2400         NV
                                                                200

 12627   LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY   5679 South Redwood Road,           Salt Lake City    UT     84123-5464   Bonnie Clark                 (800) 730-6614x208     UT
                                                                Suite 26


The most current FSRs must be verified by visiting www.demotech.com.                                                                                             2nd Quarter 2011 - RRG Analysis
                                         Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                                     Address                               City         State      Zip       Statement Contact                 Phone                State of
                                                                                                                                                                                                      Domicile
 11958   LIFE SERVICES NETWORK RECIP INS RRG                           2233 Wisconsin Avenue, NW,         Washington       DC     20007-4104   Teresa Marie Matthews             (941) 955-0793         DC
                                                                       Suite 310

 14084   LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP             5430 West Sahara Avenue             Las Vegas       NV     89146-3307   Linda Villani                     (800) 226-0793x316     NV

 11684   LVHN RRG                                                      151 Meeting Street, Suite 301       Charleston      SC     29401-2238   Mannu Luo                         (843) 577-1035          SC

 12554   MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP   Nemours Building, 1007 North       Wilmington       DE     19801-1242   Patrick Ghislain Theriault        (802) 861-2630         DE
                                                                       Orange Street, Suite 1410

 11117   MARATHON FIN INS CO INC RRG                                   1710 Corporate Crossing, Suite       O'Fallon       IL     62269-3741   Stephen D. Kantner                (302) 651-8354         DE
                                                                       One

 10697   MCIC VERMONT INC RRG                                          76 Saint Paul Street, Suite 500     Burlington      VT     05401-4477   Diane M. Hanson                   (802) 652-1571          VT

 12355   MD RISK RETENTION GROUP, INC.                                 805 Madison Street, Suite 901         Seattle       WA     98104-1172   Brenda M. Olson                   (406) 282-0170         MT

 26257   MEDAMERICA MUTUAL RRG INC                                     3000 Oak Road, Suite 600           Walnut Creek     CA     94597-2071   Christopher Paul Mertes           (925) 949-0101          HI

 12576   MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP           2325 E Camelback Road, Suite         Phoenix        AZ     85016-3474   Wendy Rae Brown                   (602) 337-6247         AZ
                                                                       600

 13589   MEDPRO RRG RISK RETENTION GROUP                               1050 K Street, NW, Suite 400       Washington       DC     20001-4448   Garrett James Davenport           (260) 486-0418         DC

 10124   MEDSTAR LIABILITY LTD INS CO INC RRG                          5565 Sterrett Place, Fifth Floor    Columbia        MD     21044-2665   Marcy Waterfall                   (802) 864-6269         DC

 44237   MENTAL HEALTH RISK RETENTION GROUP                            103 Eisenhower Parkway, Suite       Roseland        NJ     07068-1029   Merissa S. Bushey                 (802) 863-2398          VT
                                                                       101

 11999   MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP         148 College Street, Suite 204       Burlington      VT     05401-8476   Mary Mario Richards               (802) 861-2930x104      VT

 12147   MIDWEST PROVIDER INSURANCE COMPANY, RRG                       11201 North Tatum Boulevard,         Phoenix        AZ     85028-6039   Jason L. Palmer                   (808) 521-0730         AZ
                                                                       Suite 300

 13812   MOUNTAIN LAKE RISK RETENTION GROUP, INC.                      76 Saint Paul Street, Suite 500     Burlington      VT     05401-4477   Andrew Hamme                      (802) 264-4592          VT

 11547   MOUNTAIN LAUREL RRG INC                                       100 Bank Street, Suite 610          Burlington      VT     05401-4946   Amanda R. Wescott                 (802) 864-2037          VT

 11585   MOUNTAIN STATES HEALTHCARE RECIP RRG                          40 Main Street, Suite 200           Burlington      VT     05401-8492   Daniel Thanh Nguyen               (802) 264-2072         MT

 12779   MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.                One Poston Road, Suite 155          Charleston      SC     29407-3441   Kelly Bourne                      (843) 614-3132         WV

 11806   NATIONAL ASSISTED LIVING RRG INC                              3740 Davinci Court, Suite 130        Norcross       GA     30092-7634   Rose Patrick                      (770) 455-4913         DC

 12235   NATIONAL BUILDERS & CONTRACTORS INS                           5430 West Sahara Avenue             Las Vegas       NV     89146-3307   Gemma Agustin-Tuanqui             (800) 226-0793         NV

 10083   NATIONAL CATHOLIC RRG                                         148 College Street, Suite 204       Burlington      VT     05401-8476   Mary Mario Richards               (802) 861-2930x104      VT

 12293   NATIONAL CONTRACTORS INS CO INC RRG                           27 Gage Terrace                      Bigfork        MT     59911-3544   Brenda M. Olson                   (406) 282-0170         MT

 36072   NATIONAL GUARDIAN RRG INC                                     4075 Copper Ridge Drive            Traverse City    MI     49684-7059   Mark A. Burnheimer                (231) 946-6200          HI

 44016   NATIONAL HOME INSURANCE CO RRG                                One Denver Highlands, 10375          Denver         CO     80231-3966   Hugh B. McCreery                  (303) 306-0002         CO
                                                                       East Harvard Avenue, Suite 550

 11197   NATIONAL INDEPENDENT TRUCKERS IC RRG                          Building C, 1327 Ashley River       Charleston      SC     29407-5384   Nicole S. Hubler                  (802) 371-2249          SC
                                                                       Road, Suite 200

 12529   NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.      One Poston Road, Suite 155          Charleston      SC     29407-3441   Michael John Coulter                                      SC



The most current FSRs must be verified by visiting www.demotech.com.                                                                                                        2nd Quarter 2011 - RRG Analysis
                                          Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                               Address                                City        State      Zip       Statement Contact               Phone                State of
                                                                                                                                                                                              Domicile
 10234   NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)       2233 Wisconsin Avenue, NW,         Washington       DC     20007-4104   Charles Halstead-Johnson        (802) 223-2200         DC
                                                                 Suite 310

 12579   NATIONWELD RISK RETENTION GROUP, INC.                   607 14th Street, NW, Suite 900     Washington       DC     20005-2019   Katie Gray                      (800) 226-0793         DC

 12539   NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.          5430 West Sahara Avenue             Las Vegas       NV     89146-3307   Teresa Marie Matthews           (941) 955-0793         NV

 13792   NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION   10375 East Harvard Avenue,           Denver         CO     80231-3966   Bjorn K. Hubbard                (800) 226-0793x329     DC
         GROUP                                                   Suite 100

 12532   NEW STAR RISK RETENTION GROUP, INC.                     1180 Sam Rittenberg Boulevard,      Charleston      SC     29407-3384   Piper H. Crockett               (843) 573-4946          SC
                                                                 Suite 235

 12275   NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG        1001 Pennsylvania Avenue, NW,      Washington       DC     20004-2505   Katie Gray                      (800) 226-0793         DC
                                                                 Suite 400 South

 12581   NJ CAR RISK RETENTION GROUP                             1200 G Street, NW, Suite 800       Washington       DC     20005-6705   Robert Myers                    (609) 883-5056         DC

 13059   NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK     100 Bank Street, Suite 610          Burlington      VT     05401-4946   Lisa M. Kane                    (802) 864-2120          VT
         RETENTION GROUP

 10752   NOVUS INS CO RRG                                        1180 Sam Rittenberg Boulevard,      Charleston      SC     29407-3384   Elizabeth J. Forney             (843) 573-4834          SC
                                                                 Suite 235

 13644   OASIS RECIPROCAL RISK RETENTION GROUP                   40 Main Street, Suite 200           Burlington      VT     05401-8492   Gary A. Griswold                (802) 658-9466          VT

 12845   OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF   27 North 27th Street, Suite 1900      Billings      MT       59103      Bjorn K. Hubbard                (800) 226-0793x329     MT
         AMERICA, INC.

 10158   OCEAN RRG INC                                           837 Kearny Avenue                     Kearny        NJ     07032-3241   Mary Claire Goff                (877) 587-1763         DC

 12189   OCEANUS INS CO A RRG                                    Building C, 1327 Ashley River       Charleston      SC     29407-5384   Len T. Logan                    (877) 872-7475          SC
                                                                 Road, Suite 200

 13062   OLYMPIA RISK RETENTION GROUP, INC.                      1850 North Central Avenue,           Phoenix        AZ     85004-4574   Kimberly E. Wack                (602) 427-3217         AZ
                                                                 Suite 1700

 44121   OMS NATL INS CO RRG                                     6133 North River Road, Suite 650    Rosemont        IL     60018-5173   Katherine Ann Ehmann            (847) 384-0041          IL

 10353   OOIDA RISK RETENTION GROUP INC                          58 East View Lane, Suite Two          Barre         VT     05641-5324   Steve Bevins                    (802) 223-2200          VT

 44105   OPHTHALMIC MUTUAL INS CO RRG                            655 Beach Street                   San Francisco    CA     94109-1336   Les J. Scaccalosi               (415) 202-4618          VT

 12183   ORANGE COUNTY MEDICAL RECIP INS RRG                     2999 North 44th Street, Suite        Phoenix        AZ     85018-7295   Teresa Marie Matthews           (941) 955-0793         AZ
                                                                 550

 10171   ORDINARY MUTUAL A RRG CORP                              76 Saint Paul Street, Suite 500     Burlington      VT     05401-4477   Trish L. Desranleau             (802) 652-1556          VT

 11575   PACE RRG INC                                            76 Saint Paul Street, Suite 500     Burlington      VT     05401-4477   Gary P. O'Hare                  (802) 652-1568          VT

 44130   PARATRANSIT INSURANCE COMPANY, RRG                      1000 Ridgeway Loop Road              Memphis        TN     38120-4045   Anita M. Perkins                (802) 371-2219         TN

 11973   PCH MUTUAL INSURANCE COMPANY, RRG                       1800 Second Street, Suite 909        Sarasota       FL     34236-5998   Teresa Marie Matthews           (941) 955-0793         DC
                                                                 East

 11846   PEACE CHURCH RRG INC                                    148 College Street, Suite 204       Burlington      VT     05401-8476   Mary Mario Richards             (802) 861-2930x104      VT

 11772   PEDIATRICANS INS RRG OF AMER                            2233 Wisconsin Avenue, NW,         Washington       DC     20007-4104   Bjorn K. Hubbard                (800) 226-0793x329     DC
                                                                 Suite 310

 11587   PELICAN INS RRG                                         40 Main Street, Suite 200           Burlington      VT     05401-8492   Jonathan J. McKenzie            (802) 264-2073          VT


The most current FSRs must be verified by visiting www.demotech.com.                                                                                                2nd Quarter 2011 - RRG Analysis
                                         Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                                    Address                                 City         State      Zip       Statement Contact              Phone                State of
                                                                                                                                                                                                    Domicile
 12004   PHOEBE RECIPROCAL RRG                                        177 Meeting Street, Suite 470        Charleston       SC     29401-3160   Virginia Adrihan               (843) 853-0446x205      SC

 12995   PHP RISK RETENTION GROUP, LIMITED                            40 Main Street, Suite 200            Burlington       VT     05401-8492   Susan Muscat                   (802) 658-9466         AZ

 13810   PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.      15615 North 71st Street, Suite        Scottsdale      AZ     85254-2150   James Shook                    (802) 371-2273         NV
                                                                      103

 13995   PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.               5430 West Sahara Avenue               Las Vegas       NV     89146-3307   Andrew Carlton                 (800) 223-0793         NV

 12350   PHYSICIANS COMPLIANCE LIABILITY INSURANCE COMPANY, RRG       832 Willow Street                       Reno          NV     89502-1304   Mauricio Fernandez             (305) 662-7839         NV

 12746   PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.              Building G, 7890 Peters Road,         Plantation      FL     33324-4028   Anca Vague                     (954) 236-2400         NV
                                                                      Suite 106

 12918   PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION    100 Bank Street, Suite 610           Burlington       VT     05401-4946   Delisca A. Christian           (802) 864-2110          VT
         GROUP

 12507   PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP   151 Meeting Street, Suite 301        Charleston       SC     29401-2238   Christopher Craig Leigh        (843) 577-1360          SC

 11514   PHYSICIANS PROFESSIONAL LIABILTY RRG                         76 Saint Paul Street, Suite 500      Burlington       VT     05401-4477   Stacey Gibbs                   (802) 264-4588          VT

 10934   PHYSICIANS REIMBURSEMENT RRG                                 2386 Airport Road                       Barre         VT     05641-8629   Alicia Rubalcaba               (802) 371-2216          VT

 13046   PHYSICIANS RISK RETENTION GROUP LLC                          27 Gage Terrace                        Bigfork        MT     59911-3544   Brenda M. Olson                (406) 282-0170         MT

 11513   PHYSICIANS SPECIALTY LTD RRG                                 4535 Dressler Road, NW                 Canton         OH     44718-2545   Jeffry M. delMas               (802) 371-2252          SC

 13582   PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP     c/o Willis Management (Hawaii),       Honolulu        HI     96813-6400   Jason L. Palmer                (808) 521-0730          HI
                                                                      1003 Bishop Street

 12348   PINE TREE INS RECIPROCAL RRG                                 2386 Airport Road                       Barre         VT     05641-8629   Alicia Rubalcaba               (802) 371-2216          VT

 12198   PINELANDS INS CO RRG INC                                     2233 Wisconsin Avenue, NW,           Washington       DC     20007-4104   Andrew Carlton                 (800) 223-0793         DC
                                                                      Suite 310

 11980   PINNACLE CONSORTIUM OF HIGHER ED RRG                         100 Bank Street, Suite 610           Burlington       VT     05401-4946   Marcy Waterfall                (802) 864-6269          VT

 11858   PINNACLE RRG INC                                             2233 Wisconsin Avenue, NW,           Washington       DC     20007-4104   Renee LaGue                    (802) 223-2200         DC
                                                                      Suite 310

 11809   PONCE DE LEON LTC RRG, INC.                                  3655 Brookside Parkway, Suite        Alpharetta       GA     30022-1429   Donna K. Dalton                (678) 781-2400          FL
                                                                      200

 12497   PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC             3250 Grey Hawk Court, Unit Z          Carlsbad        CA     92010-6651   Mary Claire Goff               (877) 587-1763         MT

 44083   PREFERRED PHYSICIANS MEDICAL RRG                             9000 West 67th Street              Shawnee Mission    KS     66202-3656   Bruce William Anderson         (913) 262-2585         MO

 12613   PREMIER PHYSICIANS INSURANCE COMPANY, RRG                    575 South Saliman Road               Carson City      NV     89701-5000   Phyllis Zink                   (775) 887-2480         NV

 13179   PROAIR RISK RETENTION GROUP, INC.                            5430 West Sahara Avenue               Las Vegas       NV     89146-3307   Teresa Marie Matthews          (941) 955-0793         NV

 11671   PROBUILDERS SPECIALTY INS CO RRG                             2859 Paces Ferry Road, Suite 800       Atlanta        GA     30339-5733   Craig Bowden                   (770) 257-1709         DC

 10840   PROFESSIONAL MEDICAL INS RRG INC                             201 Merchant Street, Suite 2400       Honolulu        HI     96813-2929   Christina Kamaka               (808) 540-4305          HI

 12608   PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK     100 Bank Street, Suite 610           Burlington       VT     05401-4946   Michael A. Czaplicke           (802) 864-2109          VT
         RETENTION GROUP

 13067   PROFESSIONALS RISK RETENTION GROUP, INC.                     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.                                                                                                      2nd Quarter 2011 - RRG Analysis
                                          Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                                      Address                              City       State      Zip       Statement Contact               Phone                State of
                                                                                                                                                                                                  Domicile
 11350   PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION      100 Bank Street, Suite 610        Burlington     VT     05401-4946   Marcy Waterfall                 (802) 864-6269          VT
         GROUP)

 13078   RED CLAY RISK RETENTION GROUP, INC.                            14382 US Highway 19, South        Thomasville    GA     31757-4801   Cory E. Brown                   (229) 226-1937x106      SC

 13736   RED ROCK RISK RETENTION GROUP, INC.                            1850 North Central Avenue,         Phoenix       AZ     85004-4574   Lee M. Milizia                  (602) 427-3208         AZ
                                                                        Suite 1700

 12010   REGIONAL HEALTH INS CO RRG                                     1333 H Street, NW, Suite 820      Washington     DC     20005-4707   Deborah Ann Caneco              (802) 861-6802         DC

 12019   REPUBLIC RRG                                                   1180 Sam Rittenberg Boulevard,    Charleston     SC     29407-3384   Robert G. Meetze                (843) 573-4676          SC
                                                                        Suite 235

 10691   RESIDENTIAL INS CO INC A RRG                                   1123 11th Avenue, Suite 403A       Honolulu      HI     96816-2433   Hugh B. McCreery                (303) 306-0002          HI

 12209   RESTORATION RISK RETENTION GROUP, INC.                         2999 North 44th Street, Suite      Phoenix       AZ     85018-7295   Gemma Agustin-Tuanqui           (800) 226-0793         AZ
                                                                        550

 11712   SAINT LUKE'S HLTH SYSTEM RRG                                   1327 Ashley River Road, Suite     Charleston     SC     29407-5384   Alicia D. Colella               (802) 371-2238          SC
                                                                        200

 12511   SAMARITAN RISK RETENTION GROUP, INC.                           One Poston Road, Suite 155        Charleston     SC     29407-3441   Dawn M. Dinardo                 (843) 614-3134          SC

 12524   SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, Sterling Plaza, 5949 Sherry Lane,        Dallas       TX     75225-8075   Mary Claire Goff                (877) 587-1763         DC
         INC.                                                      Suite 1175

 11808   SCHUYKILL CROSSING RECIPROCAL RRG                              76 Saint Paul Street, Suite 500   Burlington     VT     05401-4477   Bill Mourelatos                 (802) 652-1558          VT

 12988   SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP           7251 West Lake Mead               Las Vegas      NV     89128-8370   Rebecca S. Boudreau             (802) 864-1710         NV
                                                                        Boulevard, Suite 401

 11267   SECURITY AMERICA RRG INC                                       100 Bank Street, Suite 610        Burlington     VT     05401-4946   Jodi K. Guzzardo                (802) 864-6332          VT

 13571   SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG           Building C, 1327 Ashley River     Charleston     SC     29407-5384   Shamus Roff                     (802) 371-2253         DC
                                                                        Road, Suite 200

 12005   SENTINEL ASSUR RRG INC                                         745 Fort Street, Suite 1100        Honolulu      HI     96813-3810   Scot Sterenberg                 (808) 585-3591          HI

 13557   SIGMA RRG, INC.                                                c/o Aon Insurance Managers, 76    Burlington     VT     05401-4477   Emi Swaim                       (843) 614-3136         DC
                                                                        Saint Paul Street, Suite 500

 12907   SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.                One Poston Road, Suite 155        Charleston     SC     29407-3441   Kelly Bourne                    (843) 614-3132          SC

 10754   SPIRIT MOUNTAIN INS CO RRG INC                                 607 14th Street, NW, Suite 900    Washington     DC     20005-2019   Charles Halstead-Johnson        (802) 223-2200         DC

 11114   ST CHARLES INS CO RRG                                          Building C, 1327 Ashley River     Charleston     SC     29407-5384   Len T. Logan                    (877) 872-7475          SC
                                                                        Road, Suite 200

 11688   ST LUKES HEALTH NETWORK INS CO RRG                             76 Saint Paul Street, Suite 500   Burlington     VT     05401-4477   Mary Desranleau                 (802) 264-4710          VT

 13993   STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.             5430 West Sahara Avenue           Las Vegas      NV     89146-3307   Katie Gray                      (800) 226-0793         NV

 44075   STATES SELF-INSURERS RRG                                       222 South Ninth Street, Suite     Minneapolis    MN     55402-3332   Sheryl Ann Sattler              (612) 766-3000          VT
                                                                        1300

 10476   STICO MUT INS CO RRG                                           76 Saint Paul Street, Suite 500   Burlington     VT     05401-4477   Becki Minoli                    (802) 264-4576          VT

 13135   SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC         One Poston Road, Suite 155        Charleston     SC     29407-3441   Kelly Bourne                    (843) 614-3132          SC

 14026   SUNLAND RISK RETENTION GROUP, INC.                             14362 North Frank Lloyd Wright    Scottsdale     AZ     85260-8847   Charla Marie Smyser             (800) 800-4324         DE
                                                                        Boulevard, Suite 1000

The most current FSRs must be verified by visiting www.demotech.com.                                                                                                    2nd Quarter 2011 - RRG Analysis
                                          Risk Retention Groups - Listing by Company Name
 NAIC Company Name                                                   Address                               City       State      Zip       Statement Contact                Phone            State of
                                                                                                                                                                                             Domicile
 11669   SUPERIOR INS CO RRG                                         1180 Sam Rittenberg Boulevard,     Charleston     SC     29407-3384   Robert G. Meetze                 (843) 573-4676      SC
                                                                     Suite 235

 10113   TERRA INS CO RRG                                            2386 Airport Road                     Barre       VT     05641-8629   Abigail M. Bernier               (802) 371-2233      VT

 10152   THE HEALTHCARE UNDERWRITING CO RRG                          100 Bank Street, Suite 610         Burlington     VT     05401-4946   Marcy Waterfall                  (802) 864-6269      VT

 11153   TITAN INS CO INC RRG                                        Building C, 1327 Ashley River      Charleston     SC     29407-5384   Shamus Roff                      (802) 371-2253      SC
                                                                     Road, Suite 200

 10084   TITLE INDUSTRY ASSURANCE CO RRG                             76 Saint Paul Street, Suite 500    Burlington     VT     05401-4477   Trisha Desranleau                (802) 652-1556      VT

 11548   UNITED CENTRAL PA RRG                                       76 Saint Paul Street, Suite 500    Burlington     VT     05401-4477   Sheri Tremblay                   (802) 652-1554      VT

 12280   UNITED CONTRACTORS INS CO INC RRG                           Building C, 1327 Ashley River      Charleston     SC     29407-5384   Nicole S. Hubler                 (802) 371-2249      DE
                                                                     Road, Suite 200

 10020   UNITED EDUCATORS INS RRG INC                                Two Wisconsin Circle, Fourth       Chevy Chase    MD     20815-9913   Karen Lee Verdon                 (301) 215-6423      VT
                                                                     Floor

 10712   UNITED HOME INSURANCE CO A RRG                              100 Bank Street, Suite 610         Burlington     VT     05401-4946   Delisca A. Christian             (802) 864-2110      VT

 12915   URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP          5430 West Sahara Avenue             Las Vegas     NV     89146-3307   Andrew Carlton                   (800) 223-0793     NV

 13988   UV INSURANCE RISK RETENTION GROUP, INC.                     201 Merchant Street, Suite 2400     Honolulu      HI     96813-2929   Toni Kanehira                    (808) 540-4323      HI

 11063   VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP   2007 Poole Drive                    Huntsville    AL     35810-3891   Susan Marie Urie                 (843) 640-3170     OK

 13974   VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.              27 Gage Terrace                      Bigfork      MT     59911-3544   Brenda M. Olson                  (406) 282-0170     MT

 13786   VIRGINIA SENIOR CARE RISK RETENTION GROUP                   201 South Main Street, Suite 200   Ann Arbor      MI     48104-2153   Peter M. Feeney                  (734) 996-2700     DC

 11802   WARREN RRG INC                                              100 Bank Street, Suite 610         Burlington     VT     05401-4946   Jay E. Curtis                    (802) 864-6301      VT

 11682   WELLSPAN RRG                                                100 Bank Street, Suite 610         Burlington     VT     05401-4946   Jennifer L. Pettengill           (802) 864-2111      VT

 11978   WESTERN INS RRG INC                                         1850 North Central Avenue,           Phoenix      AZ     85004-4574   Kimberly E. Wack                 (602) 427-3217      AZ
                                                                     Suite 1700

 40940   WESTERN PACIFIC MUT INS CO RRG                              9265 Madras Court                   Littleton     CO     80130-4444   Sherlyn Wilkinson Farrell        (303) 263-0311     CO

 13154   WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP         100 Bank Street, Suite 610         Burlington     VT     05401-4946   Lisa H. Manley                   (802) 864-2124      VT

 11796   YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)     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.                                                                                                   2nd Quarter 2011 - RRG Analysis
                                               Risk Retention Groups - Assets
  NAIC     COMPANY                                                                 Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                                Invested Assets
   12934   ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION        $2,177,497          $32,158        $1,059,835        $3,269,490
           GROUP

   12557   ACBG RISK RETENTION GROUP, LLC                                          $2,073,541            $0           $1,430,079        $3,503,620

   12166   ADVANCED PHYSICIANS INS RRG INC                                         $1,223,365            $0            $231,035         $1,454,400

   12252   AEGIS HEALTHCARE RRG, INC.                                              $1,781,388          $52,191        $1,886,983        $3,720,562

   13677   AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP                 $3,765,649         $466,987         $181,705         $4,414,341

   13606   AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP              $1,064,864            $0            $546,500         $1,611,364

   28380   AGRI INSURANCE EXCHANGE RRG                                             $13,425,991           $0            $35,999         $13,461,990

   11965   ALLEGIANT INS CO INC A RRG                                              $10,118,235        $1,018,861       $156,968        $11,294,064

   10023   ALLIANCE OF NONPROFITS FOR INS RRG                                      $40,026,668        $990,881        $6,932,745       $47,950,294

   11710   ALLIED PROFESSIONALS INSURANCE COMPANY, RRG                             $21,736,559        $144,808        $1,621,914       $23,503,281

   12013   ALLIED SERVICES RISK RETENTION GROUP                                    $5,157,896            $0            $12,500          $5,170,396

   10232   AMERICAN ASSOC OF OTHODONTISTS RRG                                      $30,859,255         $15,167         $891,610        $31,766,032

   12631   AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.                            $32,605            $28,765        $1,110,919        $1,172,289

   12300   AMERICAN CONTRACTORS INS CO RRG                                         $6,531,740            $0           $15,009,723      $21,541,463

   10903   AMERICAN EXCESS INS EXCHANGE RRG                                       $412,883,020           $0           $5,475,118       $418,358,138

   44202   AMERICAN FEED INDUSTRY INS CO RRG                                       $6,253,451            $0            $102,825         $6,356,276

   11590   AMERICAN FOREST CAS CO RRG                                              $7,757,951          $22,143         $890,507         $8,670,601

   25448   AMERICAN SAFETY RRG INC                                                 $9,184,511         $1,676,731      $4,740,374       $15,601,616

   11534   AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG             $11,905,421         $60,698        $1,162,261       $13,128,380

   12171   AMERIGUARD RRG INC                                                      $11,373,297           $0            $547,319        $11,920,616

   11598   APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.                                $59,320,316        $607,630        $21,876,601      $81,804,547

   13177   ARCOA RISK RETENTION GROUP, INC.                                        $7,572,346            $0            $989,071         $8,561,417

   13580   ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP       $972,324             $0           $1,262,452        $2,234,776

   14005   ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC          $511,040             $0            $51,533          $562,573

   12224   ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.                     $1,702,819            $0            $68,799          $1,771,618

   33677   ATTORNEYS INS MUTUAL OF ALABAMA INC                                     $15,043,605         $8,525          $285,329        $15,337,459

   22670   ATTORNEYS INSURANCE MUTUAL RRG INC                                      $15,504,533        $470,001         $663,928        $16,638,462

   10639   ATTORNEYS LIAB ASSUR SOCIETY INC RRG                                   $105,305,595       $24,656,121      $48,810,705      $178,772,421

   32450   ATTORNEYS LIAB PROTECTION SOC RRG                                       $82,439,948        $2,785,592      $7,997,892       $93,223,432

   13795   ATTPRO RRG RECIPROCAL RISK RETENTION GROUP                              $1,465,845          $5,284          $51,634          $1,522,763

   10174   BAR VERMONT RISK RETENTION GROUP INC                                    $15,602,958        $2,994,038       $678,539        $19,275,535

   12933   BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.                           $15,857,646           $0           $10,091,472      $25,949,118

   13010   BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP               $1,886,081            $0            $438,439         $2,324,520

   13788   BROADLINE RISK RETENTION GROUP, INC.                                    $54,886,837           $0           $15,448,505      $70,335,342

   44504   CALIFORNIA HEALTHCARE INS CO INC RRG                                    $92,624,232         $23,011        $17,715,009      $110,362,252

   11825   CARE RRG INC                                                            $9,001,168         $1,062,198      $1,541,327       $11,604,693

   11544   CAREGIVERS UNITED LIAB INS CO RRG                                       $28,677,981           $0           $3,822,023       $32,500,004

   12373   CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP                   $37,557,899        $865,348        $30,782,564      $69,205,811

   10808   CASSATT RISK RETENTION GROUP INC                                        $4,187,157            $0            $193,663         $4,380,820

   13784   CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP                    $614,791             $0            $40,790          $655,581

   11694   CENTRAL PA PHYSICIANS RRG INC                                           $58,391,181           $0           $2,988,291       $61,379,472

   11976   CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.                        $11,025,524           $0           $3,197,864       $14,223,388

   12167   CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG                             $3,778,963          $28,404         $145,900         $3,953,267

   11065   CHATTAHOCHEE RRG CAPTIVE INS CO                                         $4,926,489            $0            $625,979         $5,552,468

   11531   CHC CAS RRG                                                             $32,210,620           $0           $5,152,298       $37,362,918

   12308   CIMARRON INSURANCE EXCHANGE RRG                                         $3,914,996            $0           $3,274,398        $7,189,394

   11839   CIRCLE STAR INS CO RRG                                                  $1,628,767            $0           $3,261,234        $4,890,001

   12172   CLAIM PROFESSIONALS LIAB INS CO RRG                                     $1,567,584            $0           $1,204,983        $2,772,567

   11992   CLARIAN HLTH RRG INC                                                    $11,492,429           $78          $11,661,437      $23,153,944


The most current FSRs must be verified by visiting www.demotech.com.                                                   2nd Quarter 2011 - RRG Analysis
                                              Risk Retention Groups - Assets
  NAIC     COMPANY                                                            Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                           Invested Assets
   43770   CLINIC MUTUAL INSURANCE CO RRG                                     $6,642,840         $145,453         $130,914         $6,919,207

   13756   CMIC RISK RETENTION GROUP                                          $3,223,630            $0            $353,311         $3,576,941

   11668   COASTAL INS RRG INC                                                $46,860,374        $1,121,849      $5,303,104       $53,285,327

   44598   COLLEGE LIABILITY INS CO A RECIP RRG                               $9,041,478            $0           $2,092,313       $11,133,791

   13613   COLLEGE RISK RETENTION GROUP, INC.                                 $8,141,026            $0            $122,777         $8,263,803

   10803   COLUMBIA NATIONAL RRG INC                                          $1,752,635            $0            $30,148          $1,782,783

   11864   COMCARE PRO INS RECIPROCAL RRG                                     $3,303,028            $0            $136,261         $3,439,289

   11807   COMMUNITIES OF FAITH RRG INC                                       $13,415,617           $0            $593,341        $14,008,958

   13893   COMMUNITY BLOOD CENTERS EXCH RRG                                   $22,524,668        $181,005        $1,675,428       $24,381,101

   11536   COMMUNITY HEALTH ALLIANCE RECIP RRG                               $112,717,713           $0           $10,768,580      $123,486,293

   11528   CONSORTIUM RRG                                                     $9,079,292         ($39,566)        $133,192         $9,172,918

   10075   CONSUMER SPECIALTIES INS CO RRG                                    $5,848,043         $179,947         $371,890         $6,399,880

   11798   CONTINUING CARE RRG, INC.                                          $3,436,735            $0           $2,516,487        $5,953,222

   11603   CONTRACTORS INS CO OF NORTH AMER RRG                               $33,485,695        $2,797,953       $122,692        $36,406,340

   10341   CONTROLLED RISK INS CO OF VT RRG                                   $51,829,093           $0           $39,418,287      $91,247,380

   10164   CPA MUTUAL INS CO OF AMERICA RRG                                   $17,478,281        $1,475,737      $3,738,755       $22,692,773

   13720   CROSSFIT RISK RETENTION GROUP, INC.                                 $821,905             $0            $175,129         $997,034

   11676   CRUDEN BAY RRG INC                                                 $10,132,104           $0           $1,710,655       $11,842,759

   13655   CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP                        $3,470,279            $0           $3,448,338        $6,918,617

   43125   DELAWARE PROFESSIONAL INSURANCE CO                                 $10,076,152           $0            $450,979        $10,527,131

   13018   DOCTORS & SURGEONS NATIONAL RRG                                    $4,680,861            $0           $1,228,361        $5,909,222

   11842   DUBOIS MEDICAL RRG                                                 $6,525,357            $0            $10,798          $6,536,155

   10115   EASTERN DENTISTS INS CO RRG                                        $37,362,696        $280,028        $4,364,472       $42,007,196

   10125   ELITE TRANSPORTATION RRG INC                                       $10,830,652        $111,213        $2,712,134       $13,653,999

   12003   EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)      $9,889,268         $261,338        $4,878,812       $15,029,418

   12015   EMERGENCY MEDICINE RRG INC                                         $8,335,382            $0           $3,842,957       $12,178,339

   11714   EMERGENCY PHYSICIANS INS CO RRG                                    $34,675,575        $130,666        $5,388,504       $40,194,745

   38466   EVERGREEN USA RRG INC                                              $11,028,903        $184,525        $4,518,811       $15,732,239

   11840   FAIRWAY PHYSICIANS INS CO RRG                                      $10,984,947        $3,254,118      $4,937,634       $19,176,699

   11698   FAITH AFFILIATED RRG INC                                           $6,980,304            $0            $229,706         $7,210,010

   11801   FIRST KEYSTONE RISK RETENTION GROUP, INC.                          $10,503,644        $926,625        $9,282,508       $20,712,777

   11278   FIRST MEDICAL INS CO RRG                                           $97,783,658           $0            $753,408        $98,537,066

   12625   FORT WAYNE MEDICAL SURETY COMPANY, RRG                             $3,388,806            $0           $1,092,384        $4,481,190

   10842   FRANKLIN CASUALTY INS CO RRG                                       $5,253,166            $0           $3,779,750        $9,032,916

   12016   FREDERICKSBURG PROFESSIONAL RISK EXC                               $22,097,967           $0           $6,686,368       $28,784,335

   12000   GEISINGER INS CORP RRG                                             $1,492,159            $0           $10,000,035      $11,492,194

   10163   GENERAL EASTERN SKI INS RRG INC                                    $1,393,252            $0           $1,717,192        $3,110,444

   13782   GERIC INSURANCE RISK RETENTION GROUP, INC.                         $1,008,082            $0              $473           $1,008,555

   11948   GLOBAL HAWK INSURANCE COMPANY RRG                                  $6,671,646            $0           $1,588,354        $8,260,000

   10991   GLOBAL INTL INS CO INC A RRG                                       $17,240,409           $0           $1,168,372       $18,408,781

   11145   GOLDEN INS CO RRG                                                  $3,583,684          $58,082        $1,320,439        $4,962,205

   12512   GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.                $2,583,899            $0            $437,354         $3,021,253

   13973   GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP,       $15,170              $0            $721,622         $736,792
           INC.

   11581   GRACO RRG INC                                                       $498,812             $0            $915,064         $1,413,876

   11941   GREEN HILLS INS CO RRG                                             $18,460,275           $0            $46,573         $18,506,848

   11696   GUARDIAN RRG INC                                                   $4,379,221            $0           $1,193,101        $5,572,322

   12014   GUTHRIE RRG                                                        $49,534,803           $0            $413,675        $49,948,478

   13057   HAMDEN ASSURANCE RRG, INC.                                         $2,018,053            $0           $71,524,987      $73,543,040

   12236   HEALTH CARE CAS RRG INC                                            $14,951,100       $24,048,583      $2,567,425       $41,567,108


The most current FSRs must be verified by visiting www.demotech.com.                                              2nd Quarter 2011 - RRG Analysis
                                              Risk Retention Groups - Assets
  NAIC     COMPANY                                                              Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                             Invested Assets
   11813   HEALTH NETWORK PROVIDERS MUT INS CO                                  $7,047,958            $0            $574,397         $7,622,355

   10080   HEALTH PROVIDERS INS RECIPROCAL RRG                                  $71,777,026           $0           $5,469,066       $77,246,092

   11832   HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG      $17,158,678       $97,415,859      $37,538,931      $152,113,468
           (HEALTHCAP RRG)

   11683   HEALTHCARE PROVIDERS INS CO RRG                                      $60,775,190          $819          $1,947,464       $62,723,473

   11998   HEARTLAND HEALTHCARE RECIP RRG                                       $14,731,547           $0            $524,072        $15,255,619

   11097   HERITAGE WARRANTY INS RRG INC                                         $941,302          $760,000         $50,219          $1,751,521

   11950   HOME CONSTRUCTION INS CO RRG                                         $6,176,725            $0            $315,298         $6,492,023

   26797   HOUSING AUTHORITY RRG INC                                           $295,323,783        $512,414        $13,252,031      $309,088,228

   41246   HOW INSURANCE COMPANY, A RISK RETENTION GROUP                       $121,409,961        $125,048        $2,246,239       $123,781,248

   11268   ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP                $270,396,574        $7,122,151      $21,301,294      $298,820,019

   12018   INDEMNITY INSURANCE CORPORATION, RRG                                 $15,494,640        $1,623,946      $25,145,978      $42,264,564

   11692   INDIANA HEALTHCARE RECIP RRG                                         $26,258,969           $0            $611,839        $26,870,808

   11824   INTERMODAL INSURANCE COMPANY, RRG                                    $1,254,210         $6,594,373       $211,151         $8,059,734

   12594   J.M. WOODWORTH RRG, INC.                                             $8,341,876         $5,472,704      $2,523,012       $16,337,592

   11589   JAMESTOWN INS CO RRG                                                 $2,862,894         $1,303,617      $1,872,258        $6,038,769

   12159   JOLIET AREA RRG CAPTIVE INS CO                                       $8,708,122            $0           $1,016,063        $9,724,185

   11872   KENTUCKIANA MEDICAL RECIPROCAL RRG                                   $43,146,851           $0           $5,421,803       $48,568,654

   11939   KENTUCKY HOSPITAL INS CO RRG                                         $20,048,116         $28,688        $2,254,282       $22,331,086

   11803   LAKE STREET RRG INC                                                  $2,633,913            $0            $151,331         $2,785,244

   13014   LANCET INDEMNITY RISK RETENTION GROUP, INC.                          $5,476,447            $0           $3,343,738        $8,820,185

   11500   LENDERS PROTECTION ASSUR CO RRG                                      $2,363,278          $17,061         $95,961          $2,476,300

   11947   LEWIS & CLARK LTC RRG, INC                                           $14,123,240        $4,709,292      $5,034,235       $23,866,767

   12627   LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY                 $2,423,593            $0           $1,156,056        $3,579,649

   11958   LIFE SERVICES NETWORK RECIP INS RRG                                  $7,474,967            $0            $473,107         $7,948,074

   14084   LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP                     $504,314             $0               $0            $504,314

   11684   LVHN RRG                                                             $32,418,240           $0           $5,145,000       $37,563,240

   12554   MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP          $1,984,447            $0           $1,958,789        $3,943,236

   11117   MARATHON FIN INS CO INC RRG                                          $3,847,169            $0           $9,461,657       $13,308,826

   10697   MCIC VERMONT INC RRG                                                 $30,287,529         $36,067       $141,244,659      $171,568,255

   12355   MD RISK RETENTION GROUP, INC.                                        $11,545,297        $408,013         $581,525        $12,534,835

   26257   MEDAMERICA MUTUAL RRG INC                                            $61,960,974           $0           $10,149,263      $72,110,237

   12576   MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP                  $1,032,918          $15,457         $32,724          $1,081,099

   13589   MEDPRO RRG RISK RETENTION GROUP                                      $4,434,957         $7,103,795      $6,026,823       $17,565,575

   10124   MEDSTAR LIABILITY LTD INS CO INC RRG                                 $3,187,384         $1,466,182       $979,589         $5,633,155

   44237   MENTAL HEALTH RISK RETENTION GROUP                                   $20,436,880        $348,056        $1,284,057       $22,068,993

   11999   MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP                $6,077,090         $600,049        $3,208,768        $9,885,907

   12147   MIDWEST PROVIDER INSURANCE COMPANY, RRG                              $8,065,028         $995,345         $425,017         $9,485,390

   13812   MOUNTAIN LAKE RISK RETENTION GROUP, INC.                             $1,034,361            $0           $1,666,957        $2,701,318

   11547   MOUNTAIN LAUREL RRG INC                                              $8,975,957            $0           $5,409,406       $14,385,363

   11585   MOUNTAIN STATES HEALTHCARE RECIP RRG                                 $94,324,615           $0           $3,145,919       $97,470,534

   12779   MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.                       $23,853,446           $0           $2,138,208       $25,991,654

   11806   NATIONAL ASSISTED LIVING RRG INC                                     $6,822,512            $0            $559,713         $7,382,225

   12235   NATIONAL BUILDERS & CONTRACTORS INS                                  $4,548,829            $0           $1,063,246        $5,612,075

   10083   NATIONAL CATHOLIC RRG                                                $58,234,425        $4,152,107      $1,385,089       $63,771,621

   12293   NATIONAL CONTRACTORS INS CO INC RRG                                  $4,930,864        $10,649,979      $2,613,425       $18,194,268

   36072   NATIONAL GUARDIAN RRG INC                                            $11,921,621        $2,154,755      $3,277,063       $17,353,439

   44016   NATIONAL HOME INSURANCE CO RRG                                       $50,254,751        $3,243,657       $864,705        $54,363,113

   11197   NATIONAL INDEPENDENT TRUCKERS IC RRG                                 $4,622,549         $471,700        $3,220,929        $8,315,178

   12529   NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.             $4,612,088         $824,727         $544,090         $5,980,905


The most current FSRs must be verified by visiting www.demotech.com.                                                2nd Quarter 2011 - RRG Analysis
                                               Risk Retention Groups - Assets
  NAIC     COMPANY                                                                  Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                                 Invested Assets
   10234   NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)                        $12,355,986         $87,338         $258,337        $12,701,661

   12539   NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.                           $2,837,848         $129,152         $172,383         $3,139,383

   13792   NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP              $7,099,892          $7,601         $2,093,291        $9,200,784

   12532   NEW STAR RISK RETENTION GROUP, INC.                                      $7,622,316            $0            $184,235         $7,806,551

   12275   NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG                         $8,411,847            $0           $4,352,248       $12,764,095

   13059   NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP      $7,220,562            $0            $725,852         $7,946,414

   10752   NOVUS INS CO RRG                                                         $10,792,221        $787,380        $4,050,989       $15,630,590

   13644   OASIS RECIPROCAL RISK RETENTION GROUP                                    $3,379,479            $0           $1,741,817        $5,121,296

   12845   OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.      $2,850,935            $0            $719,903         $3,570,838

   10158   OCEAN RRG INC                                                            $6,288,258            $0           $5,167,509       $11,455,767

   12189   OCEANUS INS CO A RRG                                                     $54,602,904        $4,230,274      $8,977,088       $67,810,266

   13062   OLYMPIA RISK RETENTION GROUP, INC.                                       $1,103,567            $0           $1,177,785        $2,281,352

   44121   OMS NATL INS CO RRG                                                     $297,725,162       $17,760,912      $22,915,955      $338,402,029

   10353   OOIDA RISK RETENTION GROUP INC                                           $39,797,127           $0           $16,803,110      $56,600,237

   44105   OPHTHALMIC MUTUAL INS CO RRG                                            $214,205,980           $0           $11,438,108      $225,644,088

   12183   ORANGE COUNTY MEDICAL RECIP INS RRG                                      $4,092,692            $0           $1,028,713        $5,121,405

   10171   ORDINARY MUTUAL A RRG CORP                                               $26,542,360           $0            $524,793        $27,067,153

   11575   PACE RRG INC                                                             $5,612,178         $8,708,722      $3,651,242       $17,972,142

   44130   PARATRANSIT INSURANCE COMPANY, RRG                                       $20,948,901           $0           $1,555,079       $22,503,980

   11973   PCH MUTUAL INSURANCE COMPANY, RRG                                        $7,442,690         $350,955         $580,315         $8,373,960

   11846   PEACE CHURCH RRG INC                                                     $19,642,771           $0           $1,903,373       $21,546,144

   11772   PEDIATRICANS INS RRG OF AMER                                             $1,064,122         $174,803         $116,443         $1,355,368

   11587   PELICAN INS RRG                                                          $16,903,126           $0            $208,129        $17,111,255

   12004   PHOEBE RECIPROCAL RRG                                                    $4,588,461            $0            $40,345          $4,628,806

   12995   PHP RISK RETENTION GROUP, LIMITED                                        $13,724,652           $0           $2,202,583       $15,927,235

   13810   PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.                   $778,235             $0            $48,014          $826,249

   13995   PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.                           $1,080,925            $0           $1,043,192        $2,124,117

   12918   PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP          $3,693,730            $0            $214,840         $3,908,570

   12507   PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP               $36,547,425        $240,380        $14,087,319      $50,875,124

   11514   PHYSICIANS PROFESSIONAL LIABILTY RRG                                     $38,696,365        $373,863        $3,525,166       $42,595,394

   10934   PHYSICIANS REIMBURSEMENT RRG                                             $24,760,902           $0           $1,997,654       $26,758,556

   13046   PHYSICIANS RISK RETENTION GROUP LLC                                      $1,545,243            $0            $573,826         $2,119,069

   11513   PHYSICIANS SPECIALTY LTD RRG                                             $10,302,905        $336,182         $231,348        $10,870,435

   13582   PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP                 $6,213,025            $0             $7,610          $6,220,635

   12348   PINE TREE INS RECIPROCAL RRG                                             $13,272,722           $0           $1,540,898       $14,813,620

   12198   PINELANDS INS CO RRG INC                                                  ($25,534)         $306,751        $3,112,135        $3,393,352

   11980   PINNACLE CONSORTIUM OF HIGHER ED RRG                                     $4,735,677         $807,500         $121,544         $5,664,721

   11858   PINNACLE RRG INC                                                         $2,565,058            $0            $22,052          $2,587,110

   11809   PONCE DE LEON LTC RRG, INC.                                              $14,918,078        $644,048        $1,432,218       $16,994,344

   12497   PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC                         $22,958,025       $17,664,388      $7,939,083       $48,561,496

   44083   PREFERRED PHYSICIANS MEDICAL RRG                                        $186,170,720         $77,465        $3,658,069       $189,906,254

   13179   PROAIR RISK RETENTION GROUP, INC.                                         $136,225             $0            $700,689         $836,914

   11671   PROBUILDERS SPECIALTY INS CO RRG                                         $16,566,562       $100,039,068     $41,119,045      $157,724,675

   10840   PROFESSIONAL MEDICAL INS RRG INC                                          $311,931             $0            $23,590          $335,521

   12608   PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION       $1,688,371          $8,379          $78,630          $1,775,380
           GROUP

   13067   PROFESSIONALS RISK RETENTION GROUP, INC.                                 $1,912,680         $626,387        $1,326,921        $3,865,988

   11350   PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)         $5,140,702          $81,396         $110,256         $5,332,354

   13078   RED CLAY RISK RETENTION GROUP, INC.                                      $2,662,464            $0           $2,114,143        $4,776,607

   13736   RED ROCK RISK RETENTION GROUP, INC.                                      $24,068,871           $0           $7,520,437       $31,589,308


The most current FSRs must be verified by visiting www.demotech.com.                                                    2nd Quarter 2011 - RRG Analysis
                                              Risk Retention Groups - Assets
  NAIC     COMPANY                                                              Cash and       Net Reinsurance   Other Assets       Total Assets
                                                                             Invested Assets
   12010   REGIONAL HEALTH INS CO RRG                                            $724,439          $1,838,466        $37,878          $2,600,783

   10691   RESIDENTIAL INS CO INC A RRG                                          $2,358,485        $255,565          $12,287          $2,626,337

   12209   RESTORATION RISK RETENTION GROUP, INC.                               $38,576,688        $106,487         $4,760,801       $43,443,976

   11712   SAINT LUKE'S HLTH SYSTEM RRG                                         $19,183,741        $762,406         $383,835         $20,329,982

   12511   SAMARITAN RISK RETENTION GROUP, INC.                                 $16,344,411           $0            $3,992,656       $20,337,067

   12524   SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.        $490,622          $3,823,697       $1,044,914        $5,359,233

   11808   SCHUYKILL CROSSING RECIPROCAL RRG                                    $22,772,801           $0            $3,340,191       $26,112,992

   12988   SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP                  $7,472,116           $0            $650,194          $8,122,310

   11267   SECURITY AMERICA RRG INC                                              $3,519,382        $288,744         $870,330          $4,678,456

   13571   SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG                  $5,983,994        $5,782,620       $6,211,206       $17,977,820

   12005   SENTINEL ASSUR RRG INC                                               $14,515,413           $0            $3,612,410       $18,127,823

   13557   SIGMA RRG, INC.                                                       $7,381,300           $0            $1,658,615        $9,039,915

   12907   SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.                      $40,049,092           $0            $6,619,351       $46,668,443

   10754   SPIRIT MOUNTAIN INS CO RRG INC                                        $5,484,133           $0            $281,806          $5,765,939

   11114   ST CHARLES INS CO RRG                                                $10,474,788           $0            $275,286         $10,750,074

   11688   ST LUKES HEALTH NETWORK INS CO RRG                                   $39,671,621           $0            $4,441,600       $44,113,221

   13993   STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.                    $341,116           $15,312         $199,837          $556,265

   44075   STATES SELF-INSURERS RRG                                             $21,018,749         $81,119         $197,299         $21,297,167

   10476   STICO MUT INS CO RRG                                                 $16,943,483        $278,719         $2,523,039       $19,745,241

   13135   SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC                $751,121             $0             $9,510           $760,631

   14026   SUNLAND RISK RETENTION GROUP, INC.                                    $1,514,040           $0            $2,126,611        $3,640,651

   11669   SUPERIOR INS CO RRG                                                   $9,364,743        $1,716,072       $8,041,758       $19,122,573

   10113   TERRA INS CO RRG                                                     $24,118,572        $439,975         $6,498,758       $31,057,305

   10152   THE HEALTHCARE UNDERWRITING CO RRG                                   $23,631,771           $0           $46,274,271       $69,906,042

   11153   TITAN INS CO INC RRG                                                 $28,387,932           $0            $1,129,446       $29,517,378

   10084   TITLE INDUSTRY ASSURANCE CO RRG                                       $5,276,171        $899,302         $1,776,636        $7,952,109

   11548   UNITED CENTRAL PA RRG                                                $20,523,949           $0            $2,106,616       $22,630,565

   12280   UNITED CONTRACTORS INS CO INC RRG                                    $21,564,546        $154,066         $5,073,466       $26,792,078

   10020   UNITED EDUCATORS INS RRG INC                                         $594,066,019       $6,654,906      $29,338,198       $630,059,123

   10712   UNITED HOME INSURANCE CO A RRG                                        $4,179,300           $0            $1,215,425        $5,394,725

   12915   URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP                    $1,886,564        $381,607         $242,123          $2,510,294

   13988   UV INSURANCE RISK RETENTION GROUP, INC.                               $506,565             $0            $420,191          $926,756

   11063   VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP             $2,476,160           $0            $192,925          $2,669,085

   13974   VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.                        $1,713,305          $720           $573,802          $2,287,827

   13786   VIRGINIA SENIOR CARE RISK RETENTION GROUP                             $2,232,544        $223,964         $156,187          $2,612,695

   11802   WARREN RRG INC                                                        $7,279,477           $0            $440,568          $7,720,045

   11682   WELLSPAN RRG                                                         $15,716,466           $0            $9,347,976       $25,064,442

   11978   WESTERN INS RRG INC                                                   $533,151             $0             $27,976          $561,127

   40940   WESTERN PACIFIC MUT INS CO RRG                                       $132,646,458       $170,660         $3,279,801       $136,096,919

   13154   WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP                   $2,644,013           $0            $171,016          $2,815,029

   11796   YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)              $15,455,944         $45,321         $5,371,353       $20,872,618

                                            Total - All Risk Retention Groups $5,950,037,551    $408,651,709     $1,147,946,330    $7,506,635,590




The most current FSRs must be verified by visiting www.demotech.com.                                                 2nd Quarter 2011 - RRG Analysis
This page is intentionally blank.
                                                            Risk Retention Groups - Liabilities
 NAIC   Company Name                                           Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                              LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                              Reserves                                                     (000's omitted)     Development       Development
                                                                                                                                                              (000's omitted)   (000's omitted)

 12934 ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE        $40,695       $533,722     $1,144,105      $1,718,522      $1,550,967            $0                 $0                $0
       RISK RETENTION GROUP

 12557 ACBG RISK RETENTION GROUP, LLC                          $580,539       $739,540      $432,159       $1,752,238      $1,751,382            $0               ($202)            ($254)

 12166 ADVANCED PHYSICIANS INS RRG INC                            $0          $160,515       $7,289        $167,804        $1,286,596            $0                 $0                $0

 12252 AEGIS HEALTHCARE RRG, INC.                              $1,447,105     $786,847      $191,201       $2,425,153      $1,295,409            ($1)             ($273)            ($373)

 13677 AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION       $380,551       $229,879      $857,266       $1,467,696      $2,946,645            ($1)               $0                $0
       GROUP

 13606 AGGREGATE SECURITY INSURANCE GROUP, A RISK              $624,487       $225,000      $40,539        $890,026         $721,338           ($512)             ($300)            ($43)
       RETENTION GROUP

 28380 AGRI INSURANCE EXCHANGE RRG                             $1,727,365     $426,647      $388,001       $2,542,013     $10,919,977          ($235)             ($144)            ($302)

 11965 ALLEGIANT INS CO INC A RRG                              $5,624,936        $0        $1,466,412      $7,091,348      $4,202,716            ($1)              $20              $128

 10023 ALLIANCE OF NONPROFITS FOR INS RRG                     $17,048,204    $5,391,492     $917,188      $23,356,884     $24,593,410          ($133)            ($1,244)          ($4,258)

 11710 ALLIED PROFESSIONALS INSURANCE COMPANY, RRG             $6,890,265    $5,595,162     $747,579      $13,233,006     $10,270,275          ($478)             ($168)            ($849)

 12013 ALLIED SERVICES RISK RETENTION GROUP                    $2,517,883        $0         $96,373        $2,614,256      $2,556,140           $120              $591              $441

 10232 AMERICAN ASSOC OF OTHODONTISTS RRG                     $19,312,290    $2,208,610    $1,786,905     $23,307,805      $8,458,227            $0              ($3,701)          ($4,351)

 12631 AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.           $120,032       $29,530       $272,583       $422,145         $750,144             $3               ($29)             ($28)

 12300 AMERICAN CONTRACTORS INS CO RRG                            $0             $0        $15,010,548    $15,010,548      $6,530,915            $0                 $0                $0

 10903 AMERICAN EXCESS INS EXCHANGE RRG                       $155,541,127   $24,856,971   $18,389,580    $198,787,678    $219,570,460        ($20,760)         ($29,457)         ($46,367)

 44202 AMERICAN FEED INDUSTRY INS CO RRG                       $2,557,155        $0         $127,877       $2,685,032      $3,671,244          ($359)             ($868)           ($1,332)

 11590 AMERICAN FOREST CAS CO RRG                              $4,269,940     $776,124      ($43,814)      $5,002,250      $3,668,351          ($687)            ($1,424)          ($1,968)

 25448 AMERICAN SAFETY RRG INC                                 $5,927,048     $614,906     $3,390,934      $9,932,888      $5,668,728            ($1)            $1,348            $1,796

 11534 AMERICAN TRUCKING AND TRANSPORTATION INSURANCE          $6,173,845    $1,281,935    $1,107,710      $8,563,490      $4,564,890           $432              $371              ($67)
       COMPANY, RRG

 12171 AMERIGUARD RRG INC                                      $4,607,753     $37,495      $1,339,045      $5,984,293      $5,936,323          ($484)            ($1,911)          ($1,981)

 11598 APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.               $40,878,913    $14,790,705   $3,515,767     $59,185,385     $22,619,162            $0               ($988)             $48

 13177 ARCOA RISK RETENTION GROUP, INC.                        $5,382,669        $0         $316,584       $5,699,253      $2,862,164           $225             $1,434             ($223)

 13580 ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK      $100,000       $353,147      $158,453       $611,600        $1,623,176            $0                 $0                $0
       RETENTION GROUP

 14005 ARTISAN CONTRACTORS INSURANCE COMPANY RISK                $1,635       $31,255       $29,406         $62,296         $500,277             $0              $40,830           $40,830
       RETENTION GROUP, LLC

 12224 ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.     ($48,728)         $0         $359,908       $311,180        $1,460,438           ($25)             $641              $451

 33677 ATTORNEYS INS MUTUAL OF ALABAMA INC                     $5,375,000    $1,173,368     $935,544       $7,483,912      $7,853,547          ($578)            ($1,808)          ($2,623)

 22670 ATTORNEYS INSURANCE MUTUAL RRG INC                      $7,515,019        $0         $746,657       $8,261,676      $8,376,786           ($66)             $372              $381


The most current FSRs must be verified by visiting www.demotech.com.                                                                                  2nd Quarter 2011 - RRG Analysis
                                                           Risk Retention Groups - Liabilities
 NAIC   Company Name                                          Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                             LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                             Reserves                                                     (000's omitted)     Development       Development
                                                                                                                                                             (000's omitted)   (000's omitted)

 10639 ATTORNEYS LIAB ASSUR SOCIETY INC RRG                  $46,698,929    $11,704,139   $66,282,343    $124,685,411    $54,087,010          ($950)             ($992)            $166

 32450 ATTORNEYS LIAB PROTECTION SOC RRG                     $43,598,971    $13,703,664   $2,969,010     $60,271,645     $32,951,787         ($1,542)           ($5,498)          ($6,173)

 13795 ATTPRO RRG RECIPROCAL RISK RETENTION GROUP              $5,563        $20,617       $28,274         $54,454        $1,468,309            $0              $40,830           $40,830

 11033 AUTOMOTIVE UNDERWRITERS INS CO A RRG                      $0             $0            $0              $0              $0                $0                 $0                $0

 13791 AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP,         $0             $0            $0              $0              $0                $0                 $0                $0
       INC.

 10174 BAR VERMONT RISK RETENTION GROUP INC                   $4,152,180     $618,469     $1,597,548      $6,368,197     $12,907,338          ($685)             ($714)            ($975)

 12933 BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.         $11,604,143    $2,896,164    $7,021,865     $21,522,172      $4,426,946            ($1)             ($29)             $120

 13010 BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION     $20,014      $1,044,180     $178,503       $1,242,697      $1,081,823            $0                 $0                $4
       GROUP

 13788 BROADLINE RISK RETENTION GROUP, INC.                  $49,352,778        $0         $66,390       $49,419,168     $20,916,174          ($221)               $0                $0

 44504 CALIFORNIA HEALTHCARE INS CO INC RRG                  $54,080,460    $7,995,572    $8,223,300     $70,299,332     $40,062,920          ($497)            ($8,833)         ($15,575)

 11825 CARE RRG INC                                           $4,752,931     $475,195     $1,758,079      $6,986,205      $4,618,488            $0               ($95)             ($482)

 11544 CAREGIVERS UNITED LIAB INS CO RRG                     $12,746,904    $3,095,245     $110,404      $15,952,553     $16,547,451           $680             ($2,439)          ($4,886)

 12373 CARING COMMUNITIES, A RECIPROCAL RISK RETENTION        $6,333,751    $2,499,597    $29,717,476    $38,550,824     $30,654,987            $0               ($600)            ($81)
       GROUP

 10808 CASSATT RISK RETENTION GROUP INC                       $379,120          $0         $246,665       $625,785        $3,755,035           ($82)             ($434)            ($191)

 13784 CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION         $18,475          $0         $48,020         $66,495         $589,086             ($6)               $0                $0
       GROUP

 11694 CENTRAL PA PHYSICIANS RRG INC                         $33,344,388    $6,614,963    $2,964,044     $42,923,395     $18,456,077          $5,626            ($1,728)          ($5,856)

 11976 CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.       $6,017,575    $1,805,948     $326,214       $8,149,737      $6,073,651          ($551)             ($924)           ($1,821)

 12167 CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG            $567,528       $535,801      $22,019        $1,125,348      $2,827,919           $150              ($143)            ($205)

 11065 CHATTAHOCHEE RRG CAPTIVE INS CO                        $2,500,066     $823,676      $208,600       $3,532,342      $2,020,126           $218              ($436)            ($614)

 11531 CHC CAS RRG                                           $23,655,924    $4,569,875     $921,870      $29,147,669      $8,215,250            $30             ($2,802)          $2,078

 12308 CIMARRON INSURANCE EXCHANGE RRG                        $3,512,263     $770,886      $926,109       $5,209,258      $1,980,136           $678               $69               $35

 11839 CIRCLE STAR INS CO RRG                                 $137,957       $173,022     $3,175,824      $3,486,803      $1,403,198            $0                 $0                $0

 12172 CLAIM PROFESSIONALS LIAB INS CO RRG                    $513,373       $200,026      $872,042       $1,585,441      $1,187,126            $57              ($23)             $199

 11992 CLARIAN HLTH RRG INC                                      $0             $0        $20,722,424    $20,722,424      $2,431,520           $348                $0                $0

 43770 CLINIC MUTUAL INSURANCE CO RRG                          $66,837       $40,145       $35,438        $142,420        $6,776,787          ($198)             ($101)              $2

 13756 CMIC RISK RETENTION GROUP                               $3,624        $356,254      $79,245        $439,123        $3,137,818            $0              $40,830           $40,830

 11668 COASTAL INS RRG INC                                   $20,998,862    $3,137,890    $8,022,710     $32,159,462     $21,125,865           $169             ($2,819)          ($6,446)

 44598 COLLEGE LIABILITY INS CO A RECIP RRG                   $2,503,518        $0         $44,308        $2,547,826      $8,585,964           $154              ($55)             ($764)

The most current FSRs must be verified by visiting www.demotech.com.                                                                                 2nd Quarter 2011 - RRG Analysis
                                                           Risk Retention Groups - Liabilities
 NAIC   Company Name                                          Losses and    Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                             LAE Reserves   Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                            Reserves                                                     (000's omitted)     Development       Development
                                                                                                                                                            (000's omitted)   (000's omitted)

 13613 COLLEGE RISK RETENTION GROUP, INC.                     $4,041,649    $743,195      $93,935        $4,878,779      $3,385,024           $452              ($164)              $0

 10803 COLUMBIA NATIONAL RRG INC                                 $0         $508,341      $200,460       $708,801        $1,073,982            $0                 $0                $0

 11864 COMCARE PRO INS RECIPROCAL RRG                         $565,525      $154,306      $52,285        $772,116        $2,667,173           $350              ($170)            ($68)

 11807 COMMUNITIES OF FAITH RRG INC                           $1,418,824    $758,470      $167,816       $2,345,110     $11,663,848            $20              ($54)             ($713)

 13893 COMMUNITY BLOOD CENTERS EXCH RRG                       $8,179,168    $1,916,551   $3,228,307     $13,324,026     $11,057,075            $0              ($1,579)          ($4,554)

 11536 COMMUNITY HEALTH ALLIANCE RECIP RRG                   $56,038,955    $8,266,656   $45,273,144    $109,578,755    $13,907,539         ($2,175)           $17,393           $19,524

 11259 COMMUNITY HOSPITAL RRG                                    $0            $0            $0              $0              $0               $367             ($5,330)          ($8,507)

 11528 CONSORTIUM RRG                                         $1,303,611       $0         $74,856        $1,378,467      $7,794,451            $0               ($829)           ($1,655)

 10075 CONSUMER SPECIALTIES INS CO RRG                        $2,284,211    $322,370      $342,338       $2,948,919      $3,450,961           ($14)             ($410)            ($256)

 11798 CONTINUING CARE RRG, INC.                              $1,969,027    $640,513      $419,994       $3,029,534      $2,923,688            $0                 $0              ($10)

 11603 CONTRACTORS INS CO OF NORTH AMER RRG                  $13,117,766    $1,123,309    $286,153      $14,527,228     $21,879,112           $538             ($5,461)         ($11,149)

 10341 CONTROLLED RISK INS CO OF VT RRG                      $19,983,362    $8,300,167   $35,855,406    $64,138,935     $27,108,445            $0              ($1,191)          ($1,405)

 10164 CPA MUTUAL INS CO OF AMERICA RRG                       $9,793,770    $1,519,091   $1,302,029     $12,614,890     $10,077,883            $3               ($785)           ($1,194)

 13720 CROSSFIT RISK RETENTION GROUP, INC.                     $59,290      $252,312      $154,456       $466,058         $530,976             $0                 $0                $0

 11676 CRUDEN BAY RRG INC                                     $7,899,415    $1,562,740    $225,570       $9,687,725      $2,155,034           $145             ($1,712)          ($2,513)

 13655 CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP            $1,502,791    $1,887,680   $1,374,323      $4,764,794      $2,153,823            $0                 $0                $0

 43125 DELAWARE PROFESSIONAL INSURANCE CO                     $6,367,230    $609,129      $126,452       $7,102,811      $3,424,320           ($81)            ($2,472)          ($2,497)

 13018 DOCTORS & SURGEONS NATIONAL RRG                        $1,953,217    $1,522,516    $213,885       $3,689,618      $2,219,604            $18              $357              $199

 11842 DUBOIS MEDICAL RRG                                     $2,193,353    $195,416      $25,811        $2,414,580      $4,121,575           ($31)              $45              $114

 10115 EASTERN DENTISTS INS CO RRG                           $21,960,526    $4,031,239   $3,141,634     $29,133,399     $12,873,797            $0              ($3,388)          ($4,770)

 10125 ELITE TRANSPORTATION RRG INC                           $5,106,445    $1,979,480   $4,795,283     $11,881,208      $1,772,791            ($8)              $71               $21

 12003 EMERGENCY MEDICINE PROFESSIONAL ASSURANCE              $7,059,858    $2,184,549    $291,569       $9,535,976      $5,493,442           $155              $929             ($1,167)
       COMPANY RRG (EMPAC)

 12015 EMERGENCY MEDICINE RRG INC                             $2,011,714    $900,770      $923,839       $3,836,323      $8,342,016          $1,344           ($19,909)         ($16,778)

 11714 EMERGENCY PHYSICIANS INS CO RRG                       $22,448,193    $6,893,276   $3,562,633     $32,904,102      $7,290,613           $803              ($203)            $455

 38466 EVERGREEN USA RRG INC                                  $7,181,775    $1,911,497    $779,030       $9,872,302      $5,859,937            $58              $1,209             $60

 11840 FAIRWAY PHYSICIANS INS CO RRG                          $8,546,215    $5,653,368    $848,962      $15,048,545      $4,128,154          ($150)             ($549)           $1,476

 11698 FAITH AFFILIATED RRG INC                               $1,976,086    $162,977      $43,959        $2,183,022      $5,026,988            ($8)             $541              $320

 12938 FEDERAL MOTOR CARRIERS RISK RETENTION GROUP, INC.         $0            $0            $0              $0              $0                $0              ($1,153)           $387




The most current FSRs must be verified by visiting www.demotech.com.                                                                                2nd Quarter 2011 - RRG Analysis
                                                            Risk Retention Groups - Liabilities
 NAIC   Company Name                                           Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                              LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                              Reserves                                                     (000's omitted)     Development       Development
                                                                                                                                                              (000's omitted)   (000's omitted)

 10619 FIRST AUTOMOTIVE INS RRG INC                               $0             $0            $0              $0              $0                $0                 $0                $0

 11801 FIRST KEYSTONE RISK RETENTION GROUP, INC.              $10,406,889    $5,398,825     $776,745      $16,582,459      $4,130,318          ($419)            $1,109            $1,968

 11278 FIRST MEDICAL INS CO RRG                               $43,566,754        $0         $101,085      $43,667,839     $54,869,227            $10             ($8,099)         ($13,745)

 12625 FORT WAYNE MEDICAL SURETY COMPANY, RRG                  $890,054      $1,224,455     $395,759       $2,510,268      $1,970,922            $0               ($233)            ($186)

 10842 FRANKLIN CASUALTY INS CO RRG                            $6,078,513        $0         $705,337       $6,783,850      $2,249,066          ($156)             ($458)            ($633)

 12016 FREDERICKSBURG PROFESSIONAL RISK EXC                    $8,521,909    $1,102,765     $56,116        $9,680,790     $19,103,545          ($103)            ($1,450)          ($2,109)

 12000 GEISINGER INS CORP RRG                                   $10,000          $0         $35,053         $45,053       $11,447,141            $0                 $0                $0

 10163 GENERAL EASTERN SKI INS RRG INC                         $764,046          $0         $252,410       $1,016,456      $2,093,988            $0                $42              $714

 13782 GERIC INSURANCE RISK RETENTION GROUP, INC.                 $0             $0            $0              $0          $1,008,555            $0                 $0                $0

 11948 GLOBAL HAWK INSURANCE COMPANY RRG                       $1,938,517    $2,612,905    ($104,637)      $4,446,785      $3,813,215           $150              ($431)            ($465)

 10991 GLOBAL INTL INS CO INC A RRG                               $0             $0         $440,481       $440,481       $17,968,300            $0                 $0                $0

 11145 GOLDEN INS CO RRG                                       $488,133      $2,261,385     $94,608        $2,844,126      $2,118,079           $111              $781              $560

 12512 GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.     $1,270,232     $381,905      $91,485        $1,743,622      $1,277,632           $431              $680              $898

 13973 GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK             $5,497        $49,756       $100,958       $156,211         $580,581             $0              $40,830           $40,830
       RETENTION GROUP, INC.

 11581 GRACO RRG INC                                              $0          $99,162       $804,675       $903,837         $510,038             $0                 $0                $0

 11941 GREEN HILLS INS CO RRG                                  $6,994,937        $0         $612,689       $7,607,626     $10,899,222          ($481)            ($1,992)          ($1,773)

 11696 GUARDIAN RRG INC                                        $1,608,166     $538,502      $139,467       $2,286,135      $3,286,187            ($1)             ($343)            ($426)

 11970 GULF BUILDERS RRG INC                                      $0             $0            $0              $0              $0                $0               ($11)              ($3)

 12014 GUTHRIE RRG                                            $34,526,629     $24,325       $81,287       $34,632,241     $15,316,237          $1,954             ($368)            ($211)

 13057 HAMDEN ASSURANCE RRG, INC.                                 $0             $0        $72,144,757    $72,144,757      $1,398,283            $0                 $0                $0

 12236 HEALTH CARE CAS RRG INC                                $28,421,264    $2,085,011    $9,458,917     $39,965,192      $1,601,916          ($236)             ($316)            ($867)

 11813 HEALTH NETWORK PROVIDERS MUT INS CO                     $3,204,014     $392,118     $1,487,400      $5,083,532      $2,538,823            $0               ($788)           ($1,216)

 10080 HEALTH PROVIDERS INS RECIPROCAL RRG                    $27,714,990    $5,105,183    $1,420,041     $34,240,214     $43,005,878            $0              ($5,044)          ($8,713)

 11832 HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE     $105,572,223   $19,631,594   $18,732,810    $143,936,627     $8,176,841           ($50)             ($120)            $164
       COMPANY, RRG (HEALTHCAP RRG)

 11683 HEALTHCARE PROVIDERS INS CO RRG                        $18,289,490    $3,621,203    $4,851,791     $26,762,484     $35,960,989            $61             ($4,698)          ($6,862)

 11998 HEARTLAND HEALTHCARE RECIP RRG                          $5,555,509    $1,592,455     $408,682       $7,556,646      $7,698,973           ($42)             ($999)           ($1,340)

 11097 HERITAGE WARRANTY INS RRG INC                            $51,500       $697,973      $231,495       $980,968         $770,553           ($161)             ($67)               $0

 11950 HOME CONSTRUCTION INS CO RRG                            $3,191,929     $62,432      $1,214,581      $4,468,942      $2,023,081           ($48)             ($184)            ($590)



The most current FSRs must be verified by visiting www.demotech.com.                                                                                  2nd Quarter 2011 - RRG Analysis
                                                          Risk Retention Groups - Liabilities
 NAIC   Company Name                                            Losses and     Unearned         Other           Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                               LAE Reserves    Premium        Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                               Reserves                                                      (000's omitted)     Development       Development
                                                                                                                                                                (000's omitted)   (000's omitted)

 26797 HOUSING AUTHORITY RRG INC                               $120,030,296   $15,367,683   $15,337,207     $150,735,186    $158,353,042        ($5,057)          ($27,172)         ($62,100)

 41246 HOW INSURANCE COMPANY, A RISK RETENTION GROUP            $1,362,065        $0        $11,648,206     $13,010,271     $110,770,978        ($1,938)           $21,133           $38,496

 11268 ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP    $62,761,021    $10,313,898   $17,746,348     $90,821,267     $207,998,752        ($6,606)          ($21,845)         ($39,565)

 12018 INDEMNITY INSURANCE CORPORATION, RRG                    $13,621,882    $10,527,036    $1,714,295     $25,863,213     $16,401,351         ($1,198)            $916             $2,724

 11692 INDIANA HEALTHCARE RECIP RRG                            $14,479,534    $2,945,761     $477,244       $17,902,539      $8,968,270           ($24)             ($896)           ($1,772)

 11824 INTERMODAL INSURANCE COMPANY, RRG                        $3,683,255    $1,328,032     $109,801        $5,121,088      $2,938,646            ($9)             ($546)            ($920)

 12594 J.M. WOODWORTH RRG, INC.                                 $5,107,003    $2,740,788     $3,439,690     $11,287,481      $5,050,111            $0                $38              $153

 11589 JAMESTOWN INS CO RRG                                     $3,164,244    $1,375,228     $111,552        $4,651,024      $1,387,745           $212              ($434)            ($193)

 12159 JOLIET AREA RRG CAPTIVE INS CO                           $5,035,885    $1,010,499     $1,330,540      $7,376,924      $2,347,261          ($766)             ($338)             $39

 11872 KENTUCKIANA MEDICAL RECIPROCAL RRG                      $25,605,230    $4,411,363     $183,524       $30,200,117     $18,368,538           $708             ($4,185)           ($292)

 11939 KENTUCKY HOSPITAL INS CO RRG                             $8,199,692    $1,397,869     $2,407,482     $12,005,043     $10,326,043         ($1,116)            ($617)           ($4,347)

 11803 LAKE STREET RRG INC                                      $877,532       $144,628       $56,269        $1,078,429      $1,706,815            $0               ($544)            ($516)

 13014 LANCET INDEMNITY RISK RETENTION GROUP, INC.              $2,934,347    $4,055,013     ($782,480)      $6,206,880      $2,613,305            $14              $233              ($115)

 11500 LENDERS PROTECTION ASSUR CO RRG                             $0             $0         $106,924        $106,924        $2,369,376            $0                 $0                $0

 11947 LEWIS & CLARK LTC RRG, INC                              $11,717,667    $5,207,121     $4,209,152     $21,133,940      $2,732,827            ($1)            $1,943            $1,071

 12627 LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY     $2,393,971        $0          $80,477        $2,474,448      $1,105,201          ($127)             $157              $717

 11958 LIFE SERVICES NETWORK RECIP INS RRG                      $1,477,124     $631,538      $258,472        $2,367,134      $5,580,940          ($170)             ($100)            ($134)

 11684 LVHN RRG                                                    $0             $0        $32,563,240     $32,563,240      $5,000,000          $2,452               $0                $0

 12554 MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION    $1,153,384    $1,027,919     $490,342        $2,671,645      $1,271,591            $0               ($87)             ($502)
       GROUP

 11117 MARATHON FIN INS CO INC RRG                              $100,000       $925,908     $10,153,712     $11,179,620      $2,129,206           $132              ($175)            ($152)

 10697 MCIC VERMONT INC RRG                                    $22,676,647    $21,542,000   $117,090,276    $161,308,923    $10,259,332           $291               ($1)              ($3)

 12355 MD RISK RETENTION GROUP, INC.                            $6,726,445        $0         $202,318        $6,928,763      $5,606,072            $5              $1,138            $1,762

 26257 MEDAMERICA MUTUAL RRG INC                               $27,180,051    $7,734,616    $11,871,938     $46,786,605     $25,323,632            $0              ($3,020)          ($4,329)

 12576 MEDICAL INSURANCE UNDERWRITERS RISK RETENTION               $0             $0         $287,191        $287,191         $793,908             $5                 $0                $0
       GROUP

 13589 MEDPRO RRG RISK RETENTION GROUP                          $7,395,059    $4,081,301     $3,232,309     $14,708,669      $2,856,906            ($5)              ($1)               $0

 10124 MEDSTAR LIABILITY LTD INS CO INC RRG                     $3,458,204     $828,434      $457,878        $4,744,516       $888,639             $0               ($312)            ($209)

 44237 MENTAL HEALTH RISK RETENTION GROUP                       $9,866,176    $1,549,265     $587,569       $12,003,010     $10,065,983         ($1,193)           ($2,550)          ($4,935)

 11999 MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP    $4,112,349    $1,091,869     $3,062,542      $8,266,760      $1,619,148            $84             ($1,554)          ($1,772)



The most current FSRs must be verified by visiting www.demotech.com.                                                                                    2nd Quarter 2011 - RRG Analysis
                                                             Risk Retention Groups - Liabilities
 NAIC   Company Name                                            Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                               LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                               Reserves                                                     (000's omitted)     Development       Development
                                                                                                                                                               (000's omitted)   (000's omitted)

 12147 MIDWEST PROVIDER INSURANCE COMPANY, RRG                  $933,117       $357,237     $6,467,844      $7,758,198      $1,727,192            ($3)             $308              $110

 13812 MOUNTAIN LAKE RISK RETENTION GROUP, INC.                 $1,120,000     $254,794      $300,705       $1,675,499      $1,025,819            $0                 $0                $0

 11547 MOUNTAIN LAUREL RRG INC                                  $8,818,743        $0        $1,031,812      $9,850,555      $4,534,808           $369              ($748)            ($673)

 11585 MOUNTAIN STATES HEALTHCARE RECIP RRG                    $48,668,384    $10,570,195   $4,020,153     $63,258,732     $34,211,802           $297             ($7,950)          ($7,598)

 12779 MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.          $12,786,016    $3,241,107     $962,221      $16,989,344      $9,002,310           ($37)            ($1,811)          ($1,846)

 11806 NATIONAL ASSISTED LIVING RRG INC                         $2,890,315    $1,030,185     $468,146       $4,388,646      $2,993,578          ($597)             ($383)           ($1,004)

 12235 NATIONAL BUILDERS & CONTRACTORS INS                      $3,361,858     $234,856      $293,041       $3,889,755      $1,722,320           ($51)            $1,306             $840

 10083 NATIONAL CATHOLIC RRG                                   $41,114,561    $2,843,291    $3,935,955     $47,893,807     $15,877,815          $3,567             $266              ($812)

 12293 NATIONAL CONTRACTORS INS CO INC RRG                     $11,595,849    $1,723,104     $877,455      $14,196,408      $3,997,860           $199              ($467)            ($153)

 36072 NATIONAL GUARDIAN RRG INC                               $10,304,207    $1,380,354     $898,432      $12,582,993      $4,770,446            $25             ($1,718)          ($3,888)

 44016 NATIONAL HOME INSURANCE CO RRG                           $5,532,278    $23,399,788   $8,356,914     $37,288,980     $17,074,133           $363              ($58)             $651

 11197 NATIONAL INDEPENDENT TRUCKERS IC RRG                     $1,839,493     $898,332      $629,639       $3,367,464      $4,947,714           ($80)             ($383)            ($490)

 12529 NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP,         $0             $0        $3,019,229      $3,019,229      $2,961,677            $0                 $0                $0
       INC.

 10234 NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)         $20,000      $1,633,971    $3,241,164      $4,895,135      $7,806,526           $137              ($320)            ($531)

 12579 NATIONWELD RISK RETENTION GROUP, INC.                       $0             $0            $0              $0              $0                $0               ($130)            ($206)

 12539 NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.           $1,749,940     $478,561      $32,384        $2,260,885       $878,498           ($209)             ($696)            ($843)

 13792 NEW HOME WARRANTY INSURANCE COMPANY, A RISK               $85,824      $2,211,137    $1,815,593      $4,112,554      $5,088,230            $0                 $0                $0
       RETENTION GROUP

 12532 NEW STAR RISK RETENTION GROUP, INC.                      $1,991,333     $90,633      $1,672,545      $3,754,511      $4,052,040            $0              $1,567             $137

 12275 NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG         $8,104,725    $2,102,329    ($638,089)      $9,568,965      $3,195,130            $0               ($105)            ($379)

 12581 NJ CAR RISK RETENTION GROUP                                 $0             $0            $0              $0              $0                $0                 $0                $0

 13059 NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK      $3,390,404    $1,404,556    $1,538,851      $6,333,811      $1,612,603            $2               $668              ($28)
       RETENTION GROUP

 10752 NOVUS INS CO RRG                                        $12,428,924    $1,260,289    $1,496,146     $15,185,359       $445,231            $862             $3,400            $1,480

 13644 OASIS RECIPROCAL RISK RETENTION GROUP                    $2,235,001     $281,846     $1,054,089      $3,570,936      $1,550,360           $309              ($93)               $0

 12845 OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP       $2,065,754     $405,394      $310,743       $2,781,891       $788,947             $70              ($266)            ($125)
       OF AMERICA, INC.

 10158 OCEAN RRG INC                                            $7,968,384    $2,593,466     $144,039      $10,705,889       $749,879           $1,022            $1,585            $2,149

 12189 OCEANUS INS CO A RRG                                    $30,055,999    $13,495,749   $8,976,482     $52,528,230     $15,282,036          $1,071            ($1,072)          ($1,073)

 13062 OLYMPIA RISK RETENTION GROUP, INC.                       $1,098,194     $416,357      $93,954        $1,608,505       $672,847             $42              ($28)               $0

 44121 OMS NATL INS CO RRG                                     $156,330,861   $32,279,081   $12,313,575    $200,923,517    $137,478,512          $104            ($11,121)         ($20,997)

The most current FSRs must be verified by visiting www.demotech.com.                                                                                   2nd Quarter 2011 - RRG Analysis
                                                              Risk Retention Groups - Liabilities
 NAIC   Company Name                                              Losses and     Unearned        Other          Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                                 LAE Reserves    Premium       Liabilities    Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                                 Reserves                                                    (000's omitted)     Development       Development
                                                                                                                                                                (000's omitted)   (000's omitted)

 10353 OOIDA RISK RETENTION GROUP INC                            $14,680,551    $3,993,016    $17,260,072    $35,933,639    $20,666,598         ($1,409)           ($5,040)          ($9,546)

 44105 OPHTHALMIC MUTUAL INS CO RRG                              $56,414,533    $21,956,768   $9,898,410     $88,269,711    $137,374,377           $0              ($2,606)         ($14,806)

 12183 ORANGE COUNTY MEDICAL RECIP INS RRG                       $1,994,124      $291,750      $121,034      $2,406,908      $2,714,497            $0               ($585)            ($809)

 10171 ORDINARY MUTUAL A RRG CORP                                $15,901,750        $0         $150,042      $16,051,792    $11,015,360          $1,715            ($1,855)          ($2,991)

 11575 PACE RRG INC                                              $10,780,689     $180,284     $5,450,163     $16,411,136     $1,561,006            $30             $1,942            $5,150

 44130 PARATRANSIT INSURANCE COMPANY, RRG                        $11,058,843    $1,282,816    $1,073,183     $13,414,842     $9,089,137            $0              ($1,437)          ($2,628)

 11973 PCH MUTUAL INSURANCE COMPANY, RRG                         $4,899,909     $1,008,994    ($159,665)     $5,749,238      $2,624,722            $0               ($842)           $2,180

 11846 PEACE CHURCH RRG INC                                      $7,599,341     $1,513,105     $609,552      $9,721,998     $11,824,146           ($56)            ($1,676)          ($3,683)

 11587 PELICAN INS RRG                                           $3,691,508     $1,895,846    $1,347,589     $6,934,943     $10,176,312           $189             ($1,443)           ($514)

 12004 PHOEBE RECIPROCAL RRG                                     $1,254,030      $217,726      $17,913       $1,489,669      $3,139,137            $0               ($329)            ($584)

 12995 PHP RISK RETENTION GROUP, LIMITED                         $11,774,322     $353,052      $199,926      $12,327,300     $3,599,935          $1,223             $973              $952

 13810 PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.     $9,317        $157,857      $134,841       $302,015        $524,234             $0                 $0                $0

 13995 PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.              $60,932       $188,102     $1,352,718     $1,601,752       $522,365             $0                 $0                $0

 12350 PHYSICIANS COMPLIANCE LIABILITY INSURANCE COMPANY,            $0             $0            $0             $0              $0                $0                 $0                $0
       RRG

 12746 PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.               $0             $0            $0             $0              $0              $1,080             ($423)            ($631)

 12918 PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK           $2,412,552      $151,747      $116,245      $2,680,544      $1,228,026           $338              ($287)            ($423)
       RETENTION GROUP

 12507 PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION      $17,072,571    $7,337,836    $15,329,608    $39,740,015    $11,135,109           $535             ($2,765)          ($3,771)
       GROUP

 11514 PHYSICIANS PROFESSIONAL LIABILTY RRG                      $16,495,464    $7,437,974    $1,521,835     $25,455,273    $17,140,121         ($2,068)           ($3,949)          ($7,760)

 10934 PHYSICIANS REIMBURSEMENT RRG                              $15,205,517    $1,494,863     $111,850      $16,812,230     $9,946,326           $298             ($1,816)          ($2,856)

 13046 PHYSICIANS RISK RETENTION GROUP LLC                        $913,073       $443,147      $23,788       $1,380,008       $739,061             $93              $208              ($65)

 11513 PHYSICIANS SPECIALTY LTD RRG                              $3,481,493         $0        $1,826,398     $5,307,891      $5,562,544            $0               ($459)           ($1,533)

 13582 PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION        $2,695,378     $1,500,080     $134,517      $4,329,975      $1,890,660            $18              ($342)              $0
       GROUP

 12348 PINE TREE INS RECIPROCAL RRG                              $6,004,398     $1,380,074    $1,941,866     $9,326,338      $5,487,282           $104              $895             $2,551

 12198 PINELANDS INS CO RRG INC                                  $1,786,102      $405,907      $613,305      $2,805,314       $588,038             $25             $1,040            $1,513

 11980 PINNACLE CONSORTIUM OF HIGHER ED RRG                      $1,750,170         $0         $80,051       $1,830,221      $3,834,500            $62              $166               $29

 11858 PINNACLE RRG INC                                           $107,294          $0         $87,982        $195,276       $2,391,834           ($75)             ($286)            ($630)

 11809 PONCE DE LEON LTC RRG, INC.                               $5,877,122     $2,235,965     $840,885      $8,953,972      $8,040,372            $0               $1,096            ($613)

 12497 PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC          $15,823,985    $6,659,397    $18,107,537    $40,590,919     $7,970,577           ($43)             $782              $704

The most current FSRs must be verified by visiting www.demotech.com.                                                                                    2nd Quarter 2011 - RRG Analysis
                                                             Risk Retention Groups - Liabilities
 NAIC   Company Name                                            Losses and    Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year            2-Year
                                                               LAE Reserves   Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                              Reserves                                                     (000's omitted)     Development       Development
                                                                                                                                                              (000's omitted)   (000's omitted)

 44083 PREFERRED PHYSICIANS MEDICAL RRG                        $73,425,492    $6,055,308   $31,872,521    $111,353,321    $78,552,933            $0              ($8,067)         ($16,075)

 12613 PREMIER PHYSICIANS INSURANCE COMPANY, RRG                   $0            $0            $0              $0              $0               ($59)            ($1,428)           ($398)

 13179 PROAIR RISK RETENTION GROUP, INC.                         $65,121       $93,825      $146,690       $305,636         $531,278            ($48)             ($35)              ($1)

 11671 PROBUILDERS SPECIALTY INS CO RRG                        $138,391,526    $30,488     $4,421,111     $142,843,125    $14,881,550            $0               $765             ($2,206)

 10840 PROFESSIONAL MEDICAL INS RRG INC                            $0            $0         $10,235         $10,235         $325,286             $0                 $0                $0

 12608 PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A       $65,499       $11,436      $492,370       $569,305        $1,206,075            $8                ($4)             ($21)
       RISK RETENTION GROUP

 13067 PROFESSIONALS RISK RETENTION GROUP, INC.                 $429,797      $1,638,518    $718,041       $2,786,356      $1,079,632            $0               ($135)            ($25)

 11350 PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK          $1,252,969    $454,928      $43,820        $1,751,717      $3,580,637            $0                $23              ($549)
       RETENTION GROUP)

 13078 RED CLAY RISK RETENTION GROUP, INC.                      $1,495,135    $834,083      ($24,564)      $2,304,654      $2,471,953            $7               ($170)            ($164)

 13736 RED ROCK RISK RETENTION GROUP, INC.                     $12,231,980    $6,300,725    $348,325      $18,881,030     $12,708,279           ($29)               $0                $0

 12010 REGIONAL HEALTH INS CO RRG                               $1,610,606       $0         $573,750       $2,184,356       $416,427             $9                $46               $12

 12019 REPUBLIC RRG                                                $0            $0            $0              $0              $0                $0               ($18)             ($85)

 10691 RESIDENTIAL INS CO INC A RRG                             $374,336      $1,086,232    $259,192       $1,719,760       $906,577            ($45)              $12              ($58)

 12209 RESTORATION RISK RETENTION GROUP, INC.                  $20,132,170    $5,084,277   $3,989,004     $29,205,451     $14,238,525            $1              ($1,691)          ($2,641)

 11712 SAINT LUKE'S HLTH SYSTEM RRG                             $5,640,755    $391,391     $1,235,521      $7,267,667     $13,062,315           ($54)            ($1,168)          ($1,838)

 12511 SAMARITAN RISK RETENTION GROUP, INC.                     $5,822,632    $4,303,594    $572,283      $10,698,509      $9,638,558            $1              ($1,875)          ($1,237)

 12524 SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION       $4,220,103    $317,067      $283,617       $4,820,787       $538,446             $13              ($148)            ($246)
       GROUP, INC.

 11808 SCHUYKILL CROSSING RECIPROCAL RRG                       $16,631,363    $2,301,936   $2,042,236     $20,975,535      $5,137,457          ($283)             ($405)             $44

 12988 SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION           $3,130,327    $1,638,719    $440,845       $5,209,891      $2,912,419           $158              $180              ($55)
       GROUP

 11267 SECURITY AMERICA RRG INC                                 $932,550      $739,102      $279,644       $1,951,296      $2,727,160           $121               $87              ($459)

 13571 SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A         $5,984,634    $2,855,121   $8,324,645     $17,164,400       $813,420             $1                $24                $0
       RRG

 12005 SENTINEL ASSUR RRG INC                                   $4,365,501    $3,033,551    $84,930        $7,483,982     $10,643,841           ($82)            ($3,597)          ($4,198)

 13557 SIGMA RRG, INC.                                          $4,090,275    $1,118,336    $97,795        $5,306,406      $3,733,509           ($31)             ($461)           ($1,026)

 12907 SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.         $23,350,157    $6,493,128   $9,010,074     $38,853,359      $7,815,083          $1,250            $3,388            $2,146

 10754 SPIRIT MOUNTAIN INS CO RRG INC                           $1,863,054    $500,179      $404,497       $2,767,730      $2,998,209          ($663)            ($1,379)          ($1,198)

 11114 ST CHARLES INS CO RRG                                    $4,792,153     $6,358       $902,537       $5,701,048      $5,049,026         ($6,792)              $0                $0

 11688 ST LUKES HEALTH NETWORK INS CO RRG                      $28,341,587    $3,620,228    $66,498       $32,028,313     $12,084,908         ($2,836)           ($1,872)          ($1,437)



The most current FSRs must be verified by visiting www.demotech.com.                                                                                  2nd Quarter 2011 - RRG Analysis
                                                                  Risk Retention Groups - Liabilities
 NAIC   Company Name                                                  Losses and      Unearned          Other            Total        Policyholders'    Loss and LAE          1-Year            2-Year
                                                                     LAE Reserves     Premium         Liabilities      Liabilities       Surplus       Reserve Position    Loss and LAE      Loss and LAE
                                                                                      Reserves                                                         (000's omitted)     Development       Development
                                                                                                                                                                          (000's omitted)   (000's omitted)

 13993 STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.                $0            $23,079        $24,987          $48,066          $508,199             $0                 $0                $0

 44075 STATES SELF-INSURERS RRG                                      $10,046,148       $404,489      $2,189,409      $12,640,046       $8,657,121            $0                 $0             ($1,246)

 10476 STICO MUT INS CO RRG                                           $3,648,365      $5,496,997      $298,208        $9,443,570      $10,301,671          ($585)             ($386)            ($620)

 13135 SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP,                $0              $0          $199,395         $199,395          $561,236             $0                 $0                $0
       LLC

 14026 SUNLAND RISK RETENTION GROUP, INC.                             $134,498         $195,553      $2,309,016       $2,639,067       $1,001,584            $0              $40,830           $40,830

 11669 SUPERIOR INS CO RRG                                           $11,206,447       $416,396      $2,923,662      $14,546,505       $4,576,068           ($12)            $1,951            $1,838

 10113 TERRA INS CO RRG                                               $5,003,817      $3,298,622     $5,094,940      $13,397,379      $17,659,926           $514             $2,487            $3,240

 10152 THE HEALTHCARE UNDERWRITING CO RRG                            $29,525,833      $7,851,751     $4,852,413      $42,229,997      $27,676,045          $4,127             ($298)           ($1,835)

 11153 TITAN INS CO INC RRG                                              $0           $4,981,803     $1,287,830       $6,269,633      $23,247,745            $0                 $0                $0

 10084 TITLE INDUSTRY ASSURANCE CO RRG                                $4,264,165       $369,120      $1,322,478       $5,955,763       $1,996,346           $663               $52              ($499)

 11548 UNITED CENTRAL PA RRG                                          $5,664,272      $1,909,698      $429,415        $8,003,385      $14,627,180           ($20)            ($1,145)           ($943)

 12280 UNITED CONTRACTORS INS CO INC RRG                             $12,256,170      $1,944,070       $5,425        $14,205,665      $12,586,413          $1,518            $6,201            $7,375

 10020 UNITED EDUCATORS INS RRG INC                                 $319,079,010     $26,509,932    $46,956,202     $392,545,144     $237,513,979          $9,146             $1,490            $891

 10712 UNITED HOME INSURANCE CO A RRG                                    $0           $3,000,217     $160,982         $3,161,199       $2,233,526            $0                 $0                $0

 12915 URGENT CARE ASSURANCE COMPANY RISK RETENTION                   $501,479         $537,049       $280,659        $1,319,187       $1,191,107            $6               ($410)            ($151)
       GROUP

 13988 UV INSURANCE RISK RETENTION GROUP, INC.                         $92,178         $167,385      $141,309         $400,872          $525,884             $0                 $0                $0

 11063 VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION            $250,000         $450,652          $0           $700,652         $1,968,433            $0               $250                $0
       GROUP

 13974 VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.                  $34,141        $1,015,741     $436,678         $1,486,560        $801,267             $0                 $0                $0

 13786 VIRGINIA SENIOR CARE RISK RETENTION GROUP                      $450,252         $210,797       $23,369         $684,418         $1,928,277           $161                $0                $0

 11802 WARREN RRG INC                                                 $4,236,805       $658,067       $73,827         $4,968,699       $2,751,347           $247              ($857)           ($2,885)

 11682 WELLSPAN RRG                                                  $16,171,761      $3,138,998      $73,800        $19,384,559       $5,679,883            $0              ($2,540)          ($3,237)

 11978 WESTERN INS RRG INC                                               $0              $0           $25,500          $25,500          $535,627             $0                 $0              ($197)

 40940 WESTERN PACIFIC MUT INS CO RRG                                $24,551,065     $23,402,516     $1,486,874      $49,440,455      $86,656,466           $225             ($8,590)         ($11,122)

 13154 WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP            $216,644         $231,564       $37,833         $486,041         $2,328,988            $0                 $0                $0

 11796 YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION               $6,603,411      $2,019,599     $6,679,042      $15,302,052       $5,570,566          ($643)             ($904)           ($1,605)
       GROUP)
                              Total - All Risk Retention Groups     $2,930,125,411   $628,259,362   $952,486,199    $4,510,870,972   $2,993,904,913       ($16,150)          ($6,722)        ($164,252)




The most current FSRs must be verified by visiting www.demotech.com.                                                                                              2nd Quarter 2011 - RRG Analysis
This page is intentionally blank.
                                        Risk Retention Groups - Ratios
   NAIC    Company Name                                                         Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                     Assets /        Reserves /     Policyholders      Written /
                                                                                  Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                    Reserves           Surplus                          Surplus

   12934   ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION           53.51             0.03            1.11             0.44
           GROUP

   12557   ACBG RISK RETENTION GROUP, LLC                                             3.57              0.33            1.00             0.81

   12166   ADVANCED PHYSICIANS INS RRG INC                                            0.00              0.00            0.13             0.25

   12252   AEGIS HEALTHCARE RRG, INC.                                                 1.23              1.12            1.87             1.20

   13677   AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP                    9.90              0.13            0.50             0.15

   13606   AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP                 1.71              0.87            1.23             0.62

   28380   AGRI INSURANCE EXCHANGE RRG                                                7.77              0.16            0.23             0.08

   11965   ALLEGIANT INS CO INC A RRG                                                 1.80              1.34            1.69             0.15

   10023   ALLIANCE OF NONPROFITS FOR INS RRG                                         2.35              0.69            0.95             0.22

   11710   ALLIED PROFESSIONALS INSURANCE COMPANY, RRG                                3.15              0.67            1.29             0.71

   12013   ALLIED SERVICES RISK RETENTION GROUP                                       2.05              0.99            1.02             0.00

   10232   AMERICAN ASSOC OF OTHODONTISTS RRG                                         1.60              2.28            2.76             0.27

   12631   AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.                              0.27              0.16            0.56             0.05

   12300   AMERICAN CONTRACTORS INS CO RRG                                            0.00              0.00            2.30             0.00

   10903   AMERICAN EXCESS INS EXCHANGE RRG                                           2.65              0.71            0.91             0.12

   44202   AMERICAN FEED INDUSTRY INS CO RRG                                          2.45              0.70            0.73             0.00

   11590   AMERICAN FOREST CAS CO RRG                                                 1.82              1.16            1.36             0.20

   25448   AMERICAN SAFETY RRG INC                                                    1.55              1.05            1.75             0.15

   11534   AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG                1.93              1.35            1.88             0.04

   12171   AMERIGUARD RRG INC                                                         2.47              0.78            1.01             0.13

   11598   APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.                                   1.45              1.81            2.62             0.67

   13177   ARCOA RISK RETENTION GROUP, INC.                                           1.41              1.88            1.99             0.91

   13580   ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP         9.72              0.06            0.38             0.26

   14005   ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC           312.56             0.00            0.12             0.06

   12224   ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.                       -34.95             -0.03           0.21             0.03

   33677   ATTORNEYS INS MUTUAL OF ALABAMA INC                                        2.80              0.68            0.95             0.16

   22670   ATTORNEYS INSURANCE MUTUAL RRG INC                                         2.06              0.90            0.99             0.00

   10639   ATTORNEYS LIAB ASSUR SOCIETY INC RRG                                       2.25              0.86            2.31             0.43

   32450   ATTORNEYS LIAB PROTECTION SOC RRG                                          1.89              1.32            1.83             0.46

   13795   ATTPRO RRG RECIPROCAL RISK RETENTION GROUP                                263.50             0.00            0.04             0.00

   10174   BAR VERMONT RISK RETENTION GROUP INC                                       3.76              0.32            0.49             0.00

   12933   BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.                              1.37              2.62            4.86             1.29

   13010   BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP                  94.24             0.02            1.15             0.32

   13788   BROADLINE RISK RETENTION GROUP, INC.                                       1.11              2.36            2.36             0.00

   44504   CALIFORNIA HEALTHCARE INS CO INC RRG                                       1.71              1.35            1.75             0.22

   11825   CARE RRG INC                                                               1.89              1.03            1.51             0.09

   11544   CAREGIVERS UNITED LIAB INS CO RRG                                          2.25              0.77            0.96             0.27

   12373   CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP                      5.93              0.21            1.26             0.16

   10808   CASSATT RISK RETENTION GROUP INC                                           11.04             0.10            0.17             0.00

   13784   CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP                      33.28             0.03            0.11             0.16

   11694   CENTRAL PA PHYSICIANS RRG INC                                              1.75              1.81            2.33             0.80

   11976   CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.                           1.83              0.99            1.34             0.27

   12167   CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG                                6.66              0.20            0.40             0.38

   11065   CHATTAHOCHEE RRG CAPTIVE INS CO                                            1.97              1.24            1.75             0.81

The most current FSRs must be verified by visiting www.demotech.com.                                            2nd Quarter 2011 - RRG Analysis
                                       Risk Retention Groups - Ratios
   NAIC    Company Name                                                    Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                Assets /        Reserves /     Policyholders      Written /
                                                                             Loss and LAE      Policyholders      Surplus       Policyholders
                                                                               Reserves           Surplus                          Surplus

   11531   CHC CAS RRG                                                           1.36              2.88            3.55             1.11

   12308   CIMARRON INSURANCE EXCHANGE RRG                                       1.11              1.77            2.63             0.77

   11839   CIRCLE STAR INS CO RRG                                                11.81             0.10            2.48             0.21

   12172   CLAIM PROFESSIONALS LIAB INS CO RRG                                   3.05              0.43            1.34             0.20

   11992   CLARIAN HLTH RRG INC                                                  0.00              0.00            8.52             0.00

   43770   CLINIC MUTUAL INSURANCE CO RRG                                        99.39             0.01            0.02             0.01

   13756   CMIC RISK RETENTION GROUP                                            889.52             0.00            0.14             0.13

   11668   COASTAL INS RRG INC                                                   2.23              0.99            1.52             0.26

   44598   COLLEGE LIABILITY INS CO A RECIP RRG                                  3.61              0.29            0.30             0.00

   13613   COLLEGE RISK RETENTION GROUP, INC.                                    2.01              1.19            1.44             0.00

   10803   COLUMBIA NATIONAL RRG INC                                             0.00              0.00            0.66             0.04

   11864   COMCARE PRO INS RECIPROCAL RRG                                        5.84              0.21            0.29             0.13

   11807   COMMUNITIES OF FAITH RRG INC                                          9.46              0.12            0.20             0.13

   13893   COMMUNITY BLOOD CENTERS EXCH RRG                                      2.75              0.74            1.21             0.15

   11536   COMMUNITY HEALTH ALLIANCE RECIP RRG                                   2.01              4.03            7.88             1.19

   11528   CONSORTIUM RRG                                                        6.96              0.17            0.18             0.00

   10075   CONSUMER SPECIALTIES INS CO RRG                                       2.56              0.66            0.85             0.08

   11798   CONTINUING CARE RRG, INC.                                             1.75              0.67            1.04             1.28

   11603   CONTRACTORS INS CO OF NORTH AMER RRG                                  2.55              0.60            0.66             0.04

   10341   CONTROLLED RISK INS CO OF VT RRG                                      2.59              0.74            2.37             0.61

   10164   CPA MUTUAL INS CO OF AMERICA RRG                                      1.78              0.97            1.25             0.17

   13720   CROSSFIT RISK RETENTION GROUP, INC.                                   13.86             0.11            0.88             0.78

   11676   CRUDEN BAY RRG INC                                                    1.28              3.67            4.50             1.44

   13655   CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP                           2.31              0.70            2.21             1.42

   43125   DELAWARE PROFESSIONAL INSURANCE CO                                    1.58              1.86            2.07             0.00

   13018   DOCTORS & SURGEONS NATIONAL RRG                                       2.40              0.88            1.66             0.84

   11842   DUBOIS MEDICAL RRG                                                    2.98              0.53            0.59             0.00

   10115   EASTERN DENTISTS INS CO RRG                                           1.70              1.71            2.26             0.22

   10125   ELITE TRANSPORTATION RRG INC                                          2.12              2.88            6.70             1.95

   12003   EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)         1.40              1.29            1.74             0.54

   12015   EMERGENCY MEDICINE RRG INC                                            4.14              0.24            0.46             0.01

   11714   EMERGENCY PHYSICIANS INS CO RRG                                       1.54              3.08            4.51             0.99

   38466   EVERGREEN USA RRG INC                                                 1.54              1.23            1.68             0.35

   11840   FAIRWAY PHYSICIANS INS CO RRG                                         1.29              2.07            3.65             1.35

   11698   FAITH AFFILIATED RRG INC                                              3.53              0.39            0.43             0.03

   11801   FIRST KEYSTONE RISK RETENTION GROUP, INC.                             1.01              2.52            4.01             1.23

   11278   FIRST MEDICAL INS CO RRG                                              2.24              0.79            0.80             0.00

   12625   FORT WAYNE MEDICAL SURETY COMPANY, RRG                                3.81              0.45            1.27             0.69

   10842   FRANKLIN CASUALTY INS CO RRG                                          0.86              2.70            3.02             0.00

   12016   FREDERICKSBURG PROFESSIONAL RISK EXC                                  2.59              0.45            0.51             0.12

   12000   GEISINGER INS CORP RRG                                               149.22             0.00            0.00             0.00

   10163   GENERAL EASTERN SKI INS RRG INC                                       1.82              0.36            0.49             0.00

   13782   GERIC INSURANCE RISK RETENTION GROUP, INC.                            0.00              0.00            0.00             0.00

   11948   GLOBAL HAWK INSURANCE COMPANY RRG                                     3.44              0.51            1.17             0.59


The most current FSRs must be verified by visiting www.demotech.com.                                      2nd Quarter 2011 - RRG Analysis
                                        Risk Retention Groups - Ratios
   NAIC    Company Name                                                         Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                     Assets /        Reserves /     Policyholders      Written /
                                                                                  Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                    Reserves           Surplus                          Surplus

   10991   GLOBAL INTL INS CO INC A RRG                                               0.00              0.00            0.02             0.02

   11145   GOLDEN INS CO RRG                                                          7.34              0.23            1.34             0.24

   12512   GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.                        2.03              0.99            1.36             0.60

   13973   GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.         2.76              0.01            0.27             0.12

   11581   GRACO RRG INC                                                              0.00              0.00            1.77             0.16

   11941   GREEN HILLS INS CO RRG                                                     2.64              0.64            0.70             0.00

   11696   GUARDIAN RRG INC                                                           2.72              0.49            0.70             0.33

   12014   GUTHRIE RRG                                                                1.43              2.25            2.26             0.00

   13057   HAMDEN ASSURANCE RRG, INC.                                                 0.00              0.00            51.60            0.00

   12236   HEALTH CARE CAS RRG INC                                                    0.53             17.74            24.95            1.03

   11813   HEALTH NETWORK PROVIDERS MUT INS CO                                        2.20              1.26            2.00             0.19

   10080   HEALTH PROVIDERS INS RECIPROCAL RRG                                        2.59              0.64            0.80             0.21

   11832   HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG            0.16             12.91            17.60            0.21
           (HEALTHCAP RRG)

   11683   HEALTHCARE PROVIDERS INS CO RRG                                            3.32              0.51            0.74             0.08

   11998   HEARTLAND HEALTHCARE RECIP RRG                                             2.65              0.72            0.98             0.41

   11097   HERITAGE WARRANTY INS RRG INC                                              18.28             0.07            1.27             0.00

   11950   HOME CONSTRUCTION INS CO RRG                                               1.94              1.58            2.21             -0.03

   26797   HOUSING AUTHORITY RRG INC                                                  2.46              0.76            0.95             0.09

   41246   HOW INSURANCE COMPANY, A RISK RETENTION GROUP                              89.14             0.01            0.12             0.00

   11268   ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP                       4.31              0.30            0.44             0.05

   12018   INDEMNITY INSURANCE CORPORATION, RRG                                       1.14              0.83            1.58             0.64

   11692   INDIANA HEALTHCARE RECIP RRG                                               1.81              1.61            2.00             0.66

   11824   INTERMODAL INSURANCE COMPANY, RRG                                          0.34              1.25            1.74             0.42

   12594   J.M. WOODWORTH RRG, INC.                                                   1.63              1.01            2.24             0.51

   11589   JAMESTOWN INS CO RRG                                                       0.90              2.28            3.35             1.00

   12159   JOLIET AREA RRG CAPTIVE INS CO                                             1.73              2.15            3.14             0.86

   11872   KENTUCKIANA MEDICAL RECIPROCAL RRG                                         1.69              1.39            1.64             0.40

   11939   KENTUCKY HOSPITAL INS CO RRG                                               2.44              0.79            1.16             0.26

   11803   LAKE STREET RRG INC                                                        3.00              0.51            0.63             0.17

   13014   LANCET INDEMNITY RISK RETENTION GROUP, INC.                                1.87              1.12            2.38             1.18

   11500   LENDERS PROTECTION ASSUR CO RRG                                            0.00              0.00            0.05             0.00

   11947   LEWIS & CLARK LTC RRG, INC                                                 1.21              4.29            7.73             2.10

   12627   LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY                       1.01              2.17            2.24             0.68

   11958   LIFE SERVICES NETWORK RECIP INS RRG                                        5.06              0.26            0.42             0.27

   14084   LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP                          0.00              0.00            0.00             0.00

   11684   LVHN RRG                                                                   0.00              0.00            6.51             -0.13

   12554   MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP                1.72              0.91            2.10             0.87

   11117   MARATHON FIN INS CO INC RRG                                                38.47             0.05            5.25             3.08

   10697   MCIC VERMONT INC RRG                                                       1.34              2.21            15.72            4.51

   12355   MD RISK RETENTION GROUP, INC.                                              1.72              1.20            1.24             0.28

   26257   MEDAMERICA MUTUAL RRG INC                                                  2.28              1.07            1.85             0.59

   12576   MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP                        0.00              0.00            0.36             0.33

   13589   MEDPRO RRG RISK RETENTION GROUP                                            0.60              2.59            5.15             0.07

   10124   MEDSTAR LIABILITY LTD INS CO INC RRG                                       0.92              3.89            5.34             0.96

The most current FSRs must be verified by visiting www.demotech.com.                                           2nd Quarter 2011 - RRG Analysis
                                     Risk Retention Groups - Ratios
   NAIC    Company Name                                                          Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                      Assets /        Reserves /     Policyholders      Written /
                                                                                   Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                     Reserves           Surplus                          Surplus

   44237   MENTAL HEALTH RISK RETENTION GROUP                                          2.07              0.98            1.19             0.22

   11999   MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP                       1.48              2.54            5.11             0.92

   12147   MIDWEST PROVIDER INSURANCE COMPANY, RRG                                     8.64              0.54            4.49             0.09

   13812   MOUNTAIN LAKE RISK RETENTION GROUP, INC.                                    0.92              1.09            1.63             0.00

   11547   MOUNTAIN LAUREL RRG INC                                                     1.02              1.94            2.17             0.01

   11585   MOUNTAIN STATES HEALTHCARE RECIP RRG                                        1.94              1.42            1.85             0.62

   12779   MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.                              1.87              1.42            1.89             0.71

   11806   NATIONAL ASSISTED LIVING RRG INC                                            2.36              0.97            1.47             0.38

   12235   NATIONAL BUILDERS & CONTRACTORS INS                                         1.35              1.95            2.26             0.22

   10083   NATIONAL CATHOLIC RRG                                                       1.42              2.59            3.02             0.15

   12293   NATIONAL CONTRACTORS INS CO INC RRG                                         0.43              2.90            3.55             0.16

   36072   NATIONAL GUARDIAN RRG INC                                                   1.16              2.16            2.64             0.50

   44016   NATIONAL HOME INSURANCE CO RRG                                              9.08              0.32            2.18             0.00

   11197   NATIONAL INDEPENDENT TRUCKERS IC RRG                                        2.51              0.37            0.68             0.12

   12529   NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.                    0.00              0.00            1.02             0.07

   10234   NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)                          617.80             0.00            0.63             0.03

   12539   NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.                              1.62              1.99            2.57             0.25

   13792   NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP                 82.73             0.02            0.81             0.18

   12532   NEW STAR RISK RETENTION GROUP, INC.                                         3.83              0.49            0.93             -0.01

   12275   NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG                            1.04              2.54            2.99             0.61

   13059   NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP         2.13              2.10            3.93             1.01

   10752   NOVUS INS CO RRG                                                            0.87             27.92            34.11            1.95

   13644   OASIS RECIPROCAL RISK RETENTION GROUP                                       1.51              1.44            2.30             -0.01

   12845   OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.         1.38              2.62            3.53             0.44

   10158   OCEAN RRG INC                                                               0.79             10.63            14.28            3.33

   12189   OCEANUS INS CO A RRG                                                        1.82              1.97            3.44             0.86

   13062   OLYMPIA RISK RETENTION GROUP, INC.                                          1.00              1.63            2.39             1.24

   44121   OMS NATL INS CO RRG                                                         1.90              1.14            1.46             0.19

   10353   OOIDA RISK RETENTION GROUP INC                                              2.71              0.71            1.74             0.18

   44105   OPHTHALMIC MUTUAL INS CO RRG                                                3.80              0.41            0.64             0.12

   12183   ORANGE COUNTY MEDICAL RECIP INS RRG                                         2.05              0.73            0.89             0.32

   10171   ORDINARY MUTUAL A RRG CORP                                                  1.67              1.44            1.46             0.00

   11575   PACE RRG INC                                                                0.52              6.91            10.51            0.12

   44130   PARATRANSIT INSURANCE COMPANY, RRG                                          1.89              1.22            1.48             0.14

   11973   PCH MUTUAL INSURANCE COMPANY, RRG                                           1.52              1.87            2.19             0.37

   11846   PEACE CHURCH RRG INC                                                        2.58              0.64            0.82             0.25

   11772   PEDIATRICANS INS RRG OF AMER                                                1.72              1.06            1.33             -0.04

   11587   PELICAN INS RRG                                                             4.58              0.36            0.68             0.27

   12004   PHOEBE RECIPROCAL RRG                                                       3.66              0.40            0.47             0.14

   12995   PHP RISK RETENTION GROUP, LIMITED                                           1.17              3.27            3.42             0.00

   13810   PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.                     83.53             0.02            0.58             0.36

   13995   PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.                              17.74             0.12            3.07             0.59

   12918   PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP             1.53              1.96            2.18             -0.02

   12507   PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP                  2.14              1.53            3.57             0.76


The most current FSRs must be verified by visiting www.demotech.com.                                            2nd Quarter 2011 - RRG Analysis
                                      Risk Retention Groups - Ratios
   NAIC    Company Name                                                         Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                     Assets /        Reserves /     Policyholders      Written /
                                                                                  Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                    Reserves           Surplus                          Surplus

   11514   PHYSICIANS PROFESSIONAL LIABILTY RRG                                       2.35              0.96            1.49             0.22

   10934   PHYSICIANS REIMBURSEMENT RRG                                               1.63              1.53            1.69             0.30

   13046   PHYSICIANS RISK RETENTION GROUP LLC                                        1.69              1.24            1.87             0.97

   11513   PHYSICIANS SPECIALTY LTD RRG                                               2.96              0.63            0.95             0.13

   13582   PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP                   2.31              1.43            2.29             1.47

   12348   PINE TREE INS RECIPROCAL RRG                                               2.21              1.09            1.70             0.50

   12198   PINELANDS INS CO RRG INC                                                   -0.01             3.04            4.77             0.59

   11980   PINNACLE CONSORTIUM OF HIGHER ED RRG                                       2.71              0.46            0.48             0.00

   11858   PINNACLE RRG INC                                                           23.91             0.04            0.08             0.01

   11809   PONCE DE LEON LTC RRG, INC.                                                2.54              0.73            1.11             0.21

   12497   PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC                           1.45              1.99            5.09             0.09

   44083   PREFERRED PHYSICIANS MEDICAL RRG                                           2.54              0.93            1.42             0.18

   13179   PROAIR RISK RETENTION GROUP, INC.                                          2.09              0.12            0.58             0.22

   11671   PROBUILDERS SPECIALTY INS CO RRG                                           0.12              9.30            9.60             0.00

   10840   PROFESSIONAL MEDICAL INS RRG INC                                           0.00              0.00            0.03             0.00

   12608   PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION         25.78             0.05            0.47             0.12
           GROUP

   13067   PROFESSIONALS RISK RETENTION GROUP, INC.                                   4.45              0.40            2.58             0.25

   11350   PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)           4.10              0.35            0.49             0.25

   13078   RED CLAY RISK RETENTION GROUP, INC.                                        1.78              0.60            0.93             0.67

   13736   RED ROCK RISK RETENTION GROUP, INC.                                        1.97              0.96            1.49             0.97

   12010   REGIONAL HEALTH INS CO RRG                                                 0.45              3.87            5.25             0.00

   10691   RESIDENTIAL INS CO INC A RRG                                               6.30              0.41            1.90             0.00

   12209   RESTORATION RISK RETENTION GROUP, INC.                                     1.92              1.41            2.05             0.51

   11712   SAINT LUKE'S HLTH SYSTEM RRG                                               3.40              0.43            0.56             0.02

   12511   SAMARITAN RISK RETENTION GROUP, INC.                                       2.81              0.60            1.11             0.54

   12524   SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.             0.12              7.84            8.95             0.01

   11808   SCHUYKILL CROSSING RECIPROCAL RRG                                          1.37              3.24            4.08             -0.06

   12988   SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP                       2.39              1.07            1.79             0.86

   11267   SECURITY AMERICA RRG INC                                                   3.77              0.34            0.72             0.34

   13571   SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG                       1.00              7.36            21.10            1.09

   12005   SENTINEL ASSUR RRG INC                                                     3.33              0.41            0.70             0.36

   13557   SIGMA RRG, INC.                                                            1.80              1.10            1.42             0.00

   12907   SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.                            1.72              2.99            4.97             1.49

   10754   SPIRIT MOUNTAIN INS CO RRG INC                                             2.94              0.62            0.92             0.42

   11114   ST CHARLES INS CO RRG                                                      2.19              0.95            1.13             0.07

   11688   ST LUKES HEALTH NETWORK INS CO RRG                                         1.40              2.35            2.65             0.13

   13993   STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.                         0.00              0.00            0.09             0.07

   44075   STATES SELF-INSURERS RRG                                                   2.09              1.16            1.46             0.05

   10476   STICO MUT INS CO RRG                                                       4.64              0.35            0.92             0.16

   13135   SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC                     0.00              0.00            0.36             0.00

   14026   SUNLAND RISK RETENTION GROUP, INC.                                         11.26             0.13            2.63             0.38

   11669   SUPERIOR INS CO RRG                                                        0.84              2.45            3.18             0.27

   10113   TERRA INS CO RRG                                                           4.82              0.28            0.76             0.37

   10152   THE HEALTHCARE UNDERWRITING CO RRG                                         0.80              1.07            1.53             0.32

The most current FSRs must be verified by visiting www.demotech.com.                                           2nd Quarter 2011 - RRG Analysis
                                      Risk Retention Groups - Ratios
   NAIC    Company Name                                                               Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                           Assets /        Reserves /     Policyholders      Written /
                                                                                        Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                          Reserves           Surplus                          Surplus

   11153   TITAN INS CO INC RRG                                                             0.00              0.00            0.27             0.06

   10084   TITLE INDUSTRY ASSURANCE CO RRG                                                  1.24              2.14            2.98             0.20

   11548   UNITED CENTRAL PA RRG                                                            3.62              0.39            0.55             0.26

   12280   UNITED CONTRACTORS INS CO INC RRG                                                1.76              0.97            1.13             0.17

   10020   UNITED EDUCATORS INS RRG INC                                                     1.86              1.34            1.65             0.09

   10712   UNITED HOME INSURANCE CO A RRG                                                   0.00              0.00            1.42             0.00

   12915   URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP                               3.76              0.42            1.11             0.22

   13988   UV INSURANCE RISK RETENTION GROUP, INC.                                          5.50              0.18            0.76             0.99

   11063   VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP                        9.90              0.13            0.36             0.07

   13974   VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.                                   50.18             0.04            1.86             0.50

   13786   VIRGINIA SENIOR CARE RISK RETENTION GROUP                                        4.96              0.23            0.35             0.00

   11802   WARREN RRG INC                                                                   1.72              1.54            1.81             0.37

   11682   WELLSPAN RRG                                                                     0.97              2.85            3.41             1.11

   11978   WESTERN INS RRG INC                                                              0.00              0.00            0.05             0.03

   40940   WESTERN PACIFIC MUT INS CO RRG                                                   5.40              0.28            0.57             0.02

   13154   WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP                              12.20             0.09            0.21             0.17

   11796   YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)                          2.34              1.19            2.75             0.70
                                                  Total - All Risk Retention Groups         2.03              0.98            1.51             0.23




The most current FSRs must be verified by visiting www.demotech.com.                                                 2nd Quarter 2011 - RRG Analysis
Risk Retention Groups
       By State




                        ®
This page is intentionally blank.
                                                       Risk Retention Groups - Listing by State
 NAIC Company Name                                             Address                                     City    State      Zip       Statement Contact                Phone                State of
                                                                                                                                                                                              Domicile
                                                                                               Alabama
 11668   COASTAL INS RRG INC                                   509 Oliver Road                       Montgomery     AL     36117-2207   John Mark Killingsworth          (334) 271-5515          AL
                                                                                                 Arizona
 12166   ADVANCED PHYSICIANS INS RRG INC                       2700 North Third Street, Suite          Phoenix      AZ     85004-4620   Ed Caldwell                      (602) 200-6900         AZ
                                                               3050

 11710   ALLIED PROFESSIONALS INSURANCE COMPANY, RRG           1100 West Town & Country                Orange       CA     92868-4655   Douglas Joseph Hauser            (714) 571-1864         AZ
                                                               Road, Suite 1400

 10232   AMERICAN ASSOC OF OTHODONTISTS RRG                    15615 North 71st Street, Suite         Scottsdale    AZ     85254-2150   Rebecca J. Aitchison             (802) 371-2229         AZ
                                                               103

 11598   APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.              1850 North Central Avenue,              Phoenix      AZ     85004-4574   Lee M. Milizia                   (602) 427-3208         AZ
                                                               Suite 1700

 11976   CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.      2700 North, Third Street, Suite         Phoenix      AZ     85004-1129   Gemma Agustin-Tuanqui            (800) 226-0793         AZ
                                                               3050

 12167   CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG           15255 North 40th Street, Suite          Phoenix      AZ     85032-4638   Richard P. Marshall              (602) 952-9532         AZ
                                                               109

 10125   ELITE TRANSPORTATION RRG INC                          15615 North 71st Street, Suite         Scottsdale    AZ     85254-2150   Rebecca J. Aitchison             (802) 371-2229         AZ
                                                               103

 12625   FORT WAYNE MEDICAL SURETY COMPANY, RRG                1850 North Central Avenue,              Phoenix      AZ     85004-4574   Lee M. Milizia                   (602) 427-3208         AZ
                                                               Suite 1700

 12576   MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP   2325 E Camelback Road, Suite            Phoenix      AZ     85016-3474   Wendy Rae Brown                  (602) 337-6247         AZ
                                                               600

 12147   MIDWEST PROVIDER INSURANCE COMPANY, RRG               11201 North Tatum Boulevard,            Phoenix      AZ     85028-6039   Jason L. Palmer                  (808) 521-0730         AZ
                                                               Suite 300

 13062   OLYMPIA RISK RETENTION GROUP, INC.                    1850 North Central Avenue,              Phoenix      AZ     85004-4574   Kimberly E. Wack                 (602) 427-3217         AZ
                                                               Suite 1700

 12183   ORANGE COUNTY MEDICAL RECIP INS RRG                   2999 North 44th Street, Suite           Phoenix      AZ     85018-7295   Teresa Marie Matthews            (941) 955-0793         AZ
                                                               550

 12995   PHP RISK RETENTION GROUP, LIMITED                     40 Main Street, Suite 200              Burlington    VT     05401-8492   Susan Muscat                     (802) 658-9466         AZ

 13736   RED ROCK RISK RETENTION GROUP, INC.                   1850 North Central Avenue,              Phoenix      AZ     85004-4574   Lee M. Milizia                   (602) 427-3208         AZ
                                                               Suite 1700

 12209   RESTORATION RISK RETENTION GROUP, INC.                2999 North 44th Street, Suite           Phoenix      AZ     85018-7295   Gemma Agustin-Tuanqui            (800) 226-0793         AZ
                                                               550

 11978   WESTERN INS RRG INC                                   1850 North Central Avenue,              Phoenix      AZ     85004-4574   Kimberly E. Wack                 (602) 427-3217         AZ
                                                               Suite 1700
                                                                                               Colorado
 44016   NATIONAL HOME INSURANCE CO RRG                        One Denver Highlands, 10375              Denver      CO     80231-3966   Hugh B. McCreery                 (303) 306-0002         CO
                                                               East Harvard Avenue, Suite 550

 40940   WESTERN PACIFIC MUT INS CO RRG                        9265 Madras Court                       Littleton    CO     80130-4444   Sherlyn Wilkinson Farrell        (303) 263-0311         CO
                                                                                      District of Columbia
 12252   AEGIS HEALTHCARE RRG, INC.                            555 Fairmount Avenue                    Baltimore    MD     21286-5417   Barbara Labuskes                 (410) 339-7263x120     DC

 33677   ATTORNEYS INS MUTUAL OF ALABAMA INC                   200 Inverness Parkway                  Birmingham    AL     35242-4813   Melanie T. Dixon                 (205) 980-0009         DC

 13795   ATTPRO RRG RECIPROCAL RISK RETENTION GROUP            1050 K Street, NW, Suite 400           Washington    DC     20001-4448   Garrett James Davenport          (260) 486-0418         DC



The most current FSRs must be verified by visiting www.demotech.com.                                                                                                2nd Quarter 2011 - RRG Analysis
                                                    Risk Retention Groups - Listing by State
 NAIC Company Name                                               Address                               City        State      Zip       Statement Contact               Phone                State of
                                                                                                                                                                                             Domicile
 11825   CARE RRG INC                                            2233 Wisconsin Avenue, NW,         Washington      DC     20007-4104   Charles Halstead-Johnson        (802) 223-2200         DC
                                                                 Suite 310

 12373   CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP   1850 West Winchester Road,         Libertyville    IL     60048-5355   Chad Curtis Swigert             (847) 549-8225         DC
                                                                 Suite 109

 13756   CMIC RISK RETENTION GROUP                               30 Main Street, Suite 450          Burlington      VT     05401-8427   Tracy Lynn Stopford             (802) 371-2223         DC

 11842   DUBOIS MEDICAL RRG                                      1200 G Street, NW, Suite 800       Washington      DC     20005-6705   Brian S. Kline                  (814) 375-6377         DC

 11840   FAIRWAY PHYSICIANS INS CO RRG                           15255 North 40th Street, Suite      Phoenix        AZ     85032-4638   Richard P. Marshall             (602) 952-9532         DC
                                                                 109

 10991   GLOBAL INTL INS CO INC A RRG                            607 14th Street, NW, Suite 900     Washington      DC     20005-2019   Steve Bevins                    (802) 223-2200         DC

 12236   HEALTH CARE CAS RRG INC                                 8725 West Higgins Road, Suite       Chicago        IL     60631-2734   Joseph Roger Herman             (773) 864-8280         DC
                                                                 810

 11813   HEALTH NETWORK PROVIDERS MUT INS CO                     2233 Wisconsin Avenue, NW,         Washington      DC     20007-4104   Katie Gray                      (800) 226-0793         DC
                                                                 Suite 310

 11832   HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE      201 South Main Street, Suite 200   Ann Arbor       MI     48104-2153   Peter M. Feeney                 (734) 996-2700         DC
         COMPANY, RRG (HEALTHCAP RRG)

 11824   INTERMODAL INSURANCE COMPANY, RRG                       1800 Second Street, Suite 909       Sarasota       FL       34236      Teresa Marie Matthews           (941) 955-0793         DC
                                                                 East

 11958   LIFE SERVICES NETWORK RECIP INS RRG                     2233 Wisconsin Avenue, NW,         Washington      DC     20007-4104   Teresa Marie Matthews           (941) 955-0793         DC
                                                                 Suite 310

 13589   MEDPRO RRG RISK RETENTION GROUP                         1050 K Street, NW, Suite 400       Washington      DC     20001-4448   Garrett James Davenport         (260) 486-0418         DC

 10124   MEDSTAR LIABILITY LTD INS CO INC RRG                    5565 Sterrett Place, Fifth Floor    Columbia       MD     21044-2665   Marcy Waterfall                 (802) 864-6269         DC

 11806   NATIONAL ASSISTED LIVING RRG INC                        3740 Davinci Court, Suite 130       Norcross       GA     30092-7634   Rose Patrick                    (770) 455-4913         DC

 10234   NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)       2233 Wisconsin Avenue, NW,         Washington      DC     20007-4104   Charles Halstead-Johnson        (802) 223-2200         DC
                                                                 Suite 310

 12579   NATIONWELD RISK RETENTION GROUP, INC.                   607 14th Street, NW, Suite 900     Washington      DC     20005-2019   Katie Gray                      (800) 226-0793         DC

 13792   NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION   10375 East Harvard Avenue,           Denver        CO     80231-3966   Bjorn K. Hubbard                (800) 226-0793x329     DC
         GROUP                                                   Suite 100

 12275   NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG        1001 Pennsylvania Avenue, NW,      Washington      DC     20004-2505   Katie Gray                      (800) 226-0793         DC
                                                                 Suite 400 South

 12581   NJ CAR RISK RETENTION GROUP                             1200 G Street, NW, Suite 800       Washington      DC     20005-6705   Robert Myers                    (609) 883-5056         DC

 10158   OCEAN RRG INC                                           837 Kearny Avenue                    Kearny        NJ     07032-3241   Mary Claire Goff                (877) 587-1763         DC

 11973   PCH MUTUAL INSURANCE COMPANY, RRG                       1800 Second Street, Suite 909       Sarasota       FL     34236-5998   Teresa Marie Matthews           (941) 955-0793         DC
                                                                 East

 11772   PEDIATRICANS INS RRG OF AMER                            2233 Wisconsin Avenue, NW,         Washington      DC     20007-4104   Bjorn K. Hubbard                (800) 226-0793x329     DC
                                                                 Suite 310

 12198   PINELANDS INS CO RRG INC                                2233 Wisconsin Avenue, NW,         Washington      DC     20007-4104   Andrew Carlton                  (800) 223-0793         DC
                                                                 Suite 310

 11858   PINNACLE RRG INC                                        2233 Wisconsin Avenue, NW,         Washington      DC     20007-4104   Renee LaGue                     (802) 223-2200         DC
                                                                 Suite 310

 11671   PROBUILDERS SPECIALTY INS CO RRG                        2859 Paces Ferry Road, Suite 800     Atlanta       GA     30339-5733   Craig Bowden                    (770) 257-1709         DC

 12010   REGIONAL HEALTH INS CO RRG                              1333 H Street, NW, Suite 820       Washington      DC     20005-4707   Deborah Ann Caneco              (802) 861-6802         DC



The most current FSRs must be verified by visiting www.demotech.com.                                                                                               2nd Quarter 2011 - RRG Analysis
                                                      Risk Retention Groups - Listing by State
 NAIC Company Name                                                      Address                                    City        State      Zip       Statement Contact                 Phone                State of
                                                                                                                                                                                                           Domicile
 12524   SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, Sterling Plaza, 5949 Sherry Lane,               Dallas       TX     75225-8075   Mary Claire Goff                  (877) 587-1763         DC
         INC.                                                      Suite 1175

 13571   SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG           Building C, 1327 Ashley River         Charleston        SC     29407-5384   Shamus Roff                       (802) 371-2253         DC
                                                                        Road, Suite 200

 13557   SIGMA RRG, INC.                                                c/o Aon Insurance Managers, 76        Burlington        VT     05401-4477   Emi Swaim                         (843) 614-3136         DC
                                                                        Saint Paul Street, Suite 500

 10754   SPIRIT MOUNTAIN INS CO RRG INC                                 607 14th Street, NW, Suite 900        Washington        DC     20005-2019   Charles Halstead-Johnson          (802) 223-2200         DC

 13786   VIRGINIA SENIOR CARE RISK RETENTION GROUP                      201 South Main Street, Suite 200      Ann Arbor         MI     48104-2153   Peter M. Feeney                   (734) 996-2700         DC
                                                                                                      Delaware
 43125   DELAWARE PROFESSIONAL INSURANCE CO                             845 Third Avenue, 20th Floor           New York         NY     10022-6601   I. David Gordon                   (212) 687-2525         DE

 12938   FEDERAL MOTOR CARRIERS RISK RETENTION GROUP, INC.              19 North Bridge Avenue                 Red Bank         NJ     07701-1012   Robert M. Willis                  (202) 434-8763         DE

 12018   INDEMNITY INSURANCE CORPORATION, RRG                           950 Ridgebrook Road, Suite                 Sparks       MD     21152-9390   Jeffrey Brian Cohen               (410) 472-6000         DE
                                                                        1500

 12554   MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP    Nemours Building, 1007 North          Wilmington        DE     19801-1242   Patrick Ghislain Theriault        (802) 861-2630         DE
                                                                        Orange Street, Suite 1410

 11117   MARATHON FIN INS CO INC RRG                                    1710 Corporate Crossing, Suite          O'Fallon        IL     62269-3741   Stephen D. Kantner                (302) 651-8354         DE
                                                                        One

 14026   SUNLAND RISK RETENTION GROUP, INC.                             14362 North Frank Lloyd Wright         Scottsdale       AZ     85260-8847   Charla Marie Smyser               (800) 800-4324         DE
                                                                        Boulevard, Suite 1000

 12280   UNITED CONTRACTORS INS CO INC RRG                              Building C, 1327 Ashley River         Charleston        SC     29407-5384   Nicole S. Hubler                  (802) 371-2249         DE
                                                                        Road, Suite 200
                                                                                                         Florida
 11809   PONCE DE LEON LTC RRG, INC.                                    3655 Brookside Parkway, Suite          Alpharetta       GA     30022-1429   Donna K. Dalton                   (678) 781-2400          FL
                                                                        200
                                                                                                         Georgia
 11065   CHATTAHOCHEE RRG CAPTIVE INS CO                                14382 US Highway 19, South            Thomasville       GA     31757-4801   Cory E. Brown                     (229) 226-1937x106     GA

 12159   JOLIET AREA RRG CAPTIVE INS CO                                 14382 US Highway 19, South            Thomasville       GA     31757-4801   Cory E. Brown                     (229) 226-1937x106     GA
                                                                                                         Hawaii
 11965   ALLEGIANT INS CO INC A RRG                                     745 Fort Street, Suite 1100            Honolulu         HI     96813-3800   Mark Hironaga                     (808) 585-3526          HI

 22670   ATTORNEYS INSURANCE MUTUAL RRG INC                             140 Kennedy Drive                   South Burlington    VT     05403-6710   Karen M. Venner                   (802) 651-3377          HI

 44504   CALIFORNIA HEALTHCARE INS CO INC RRG                           9229 Sierra College Boulevard           Roseville       CA     95661-5919   Jeffrey Dueck                     (916) 772-5110          HI

 43770   CLINIC MUTUAL INSURANCE CO RRG                                 1003 Bishop Street, Suite 1220         Honolulu         HI     96813-6436   Jason L. Palmer                   (808) 521-0730          HI

 44598   COLLEGE LIABILITY INS CO A RECIP RRG                           745 Fort Street, Suite 1100            Honolulu         HI     96813-3810   Scot Sterenberg                   (808) 585-3591          HI

 11603   CONTRACTORS INS CO OF NORTH AMER RRG                           201 Merchant Street, Suite 2400        Honolulu         HI     96813-2929   Stacey Gibbs                      (802) 264-4588          HI

 10619   FIRST AUTOMOTIVE INS RRG INC                                   2400 Louisiana Boulevard, NE         Albuquerque        NM     87110-4303   Larry K. Hinson                   (505) 881-2244          HI

 13782   GERIC INSURANCE RISK RETENTION GROUP, INC.                     15615 North 71st Street, Suite         Scottsdale       AZ     85254-2150   Scott S. Brauer                   (800) 872-7475          HI
                                                                        103

 10080   HEALTH PROVIDERS INS RECIPROCAL RRG                            1003 Bishop Street, Suite 1220         Honolulu         HI     96813-6436   Jason L. Palmer                   (808) 521-0730          HI

 26257   MEDAMERICA MUTUAL RRG INC                                      3000 Oak Road, Suite 600             Walnut Creek       CA     94597-2071   Christopher Paul Mertes           (925) 949-0101          HI



The most current FSRs must be verified by visiting www.demotech.com.                                                                                                             2nd Quarter 2011 - RRG Analysis
                                                     Risk Retention Groups - Listing by State
 NAIC Company Name                                                  Address                                        City      State      Zip       Statement Contact                Phone               State of
                                                                                                                                                                                                       Domicile
 36072   NATIONAL GUARDIAN RRG INC                                  4075 Copper Ridge Drive                  Traverse City    MI     49684-7059   Mark A. Burnheimer               (231) 946-6200         HI

 13582   PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP   c/o Willis Management (Hawaii),           Honolulu        HI     96813-6400   Jason L. Palmer                  (808) 521-0730         HI
                                                                    1003 Bishop Street

 10840   PROFESSIONAL MEDICAL INS RRG INC                           201 Merchant Street, Suite 2400           Honolulu        HI     96813-2929   Christina Kamaka                 (808) 540-4305         HI

 10691   RESIDENTIAL INS CO INC A RRG                               1123 11th Avenue, Suite 403A              Honolulu        HI     96816-2433   Hugh B. McCreery                 (303) 306-0002         HI

 12005   SENTINEL ASSUR RRG INC                                     745 Fort Street, Suite 1100               Honolulu        HI     96813-3810   Scot Sterenberg                  (808) 585-3591         HI

 13988   UV INSURANCE RISK RETENTION GROUP, INC.                    201 Merchant Street, Suite 2400           Honolulu        HI     96813-2929   Toni Kanehira                    (808) 540-4323         HI
                                                                                                       Iowa
 44202   AMERICAN FEED INDUSTRY INS CO RRG                          4685 Merle Hay Road, Suite 200           Des Moines       IA     50322-1982   Susan P. Tingleff                (515) 254-0400         IA
                                                                                                       Illinois
 44121   OMS NATL INS CO RRG                                        6133 North River Road, Suite 650          Rosemont        IL     60018-5173   Katherine Ann Ehmann             (847) 384-0041         IL
                                                                                                    Indiana
 28380   AGRI INSURANCE EXCHANGE RRG                                5825 Lawton Loop East Drive              Indianapolis     IN     46216-1064   P. Dean Denhart                  (317) 541-1800         IN

 13893   COMMUNITY BLOOD CENTERS EXCH RRG                           7015 College Boulevard, Suite           Overland Park     KS     66211-1671   J. Todd Rosenbaum                (502) 882-4459         IN
                                                                    400
                                                                                                   Kentucky
 13580   ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK         1700 Eastpoint Parkway                    Louisville      KY     40223-4140   James R. Mueller                 (502) 244-1343         KY
         RETENTION GROUP

 13018   DOCTORS & SURGEONS NATIONAL RRG                            3370 Sugarloaf Parkway, Suite G-        Lawrenceville     GA     30044-5486   Sara Mary Carpenter              (706) 232-9591x12      KY
                                                                    2/302

 11872   KENTUCKIANA MEDICAL RECIPROCAL RRG                         201 East Jefferson Street, Suite          Louisville      KY     40202-1250   Jay E. Curtis                    (802) 864-6301         KY
                                                                    104

 11939   KENTUCKY HOSPITAL INS CO RRG                               2501 Nelson Miller Parkway                Louisville      KY     40223-2221   Deborah Rose Riley               (502) 992-4329         KY
                                                                                                   Missouri
 44083   PREFERRED PHYSICIANS MEDICAL RRG                           9000 West 67th Street                 Shawnee Mission     KS     66202-3656   Bruce William Anderson           (913) 262-2585        MO
                                                                                                   Montana
 12631   AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.              Crowne Plaza, 27 North 27th                   Billings    MT     59101-2343   Katie Gray                       (800) 226-0793        MT
                                                                    Street, Suite 1900

 11534   AMERICAN TRUCKING AND TRANSPORTATION INSURANCE             111 North Higgins Avenue,                     Missoula    MT     59802-4437   Patricia Lorraine Maloney        (406) 523-3908        MT
         COMPANY, RRG                                               Fourth Floor

 14005   ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION       27 North 27th Street, Suite 1900              Billings    MT     59101-2343   John S. Maloney                  (718) 937-2010        MT
         GROUP, LLC

 32450   ATTORNEYS LIAB PROTECTION SOC RRG                          Florence Building, 111 North                  Missoula    MT     59802-4401   Mary Patricia Nordhagen          (406) 728-3113        MT
                                                                    Higgins Avenue, Suite 200

 13791   AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.     111 North Higgins Avenue,                     Missoula    MT     59802-4401   Daniel John Seman                (406) 523-3873        MT
                                                                    Suite 200

 13784   CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP      111 North Higgins Avenue,                     Missoula    MT     59802-4401   Daniel John Seman                (406) 523-3873        MT
                                                                    Suite 200

 13720   CROSSFIT RISK RETENTION GROUP, INC.                        111 North Sepulveda Boulevard,        Manhattan Beach     CA     90266-6849   Tony James Schmidt               (808) 988-3215        MT
                                                                    Suite 243

 11696   GUARDIAN RRG INC                                           40 Main Street, Suite 200                 Burlington      VT     05401-8492   Jocelyn M. Lyman                 (843) 694-9698        MT


The most current FSRs must be verified by visiting www.demotech.com.                                                                                                          2nd Quarter 2011 - RRG Analysis
                                                          Risk Retention Groups - Listing by State
 NAIC Company Name                                                       Address                                   City      State      Zip       Statement Contact             Phone                State of
                                                                                                                                                                                                     Domicile
 12355   MD RISK RETENTION GROUP, INC.                                   805 Madison Street, Suite 901             Seattle    WA     98104-1172   Brenda M. Olson               (406) 282-0170         MT

 11585   MOUNTAIN STATES HEALTHCARE RECIP RRG                            40 Main Street, Suite 200            Burlington      VT     05401-8492   Daniel Thanh Nguyen           (802) 264-2072         MT

 12293   NATIONAL CONTRACTORS INS CO INC RRG                             27 Gage Terrace                        Bigfork       MT     59911-3544   Brenda M. Olson               (406) 282-0170         MT

 12845   OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF           27 North 27th Street, Suite 1900       Billings      MT       59103      Bjorn K. Hubbard              (800) 226-0793x329     MT
         AMERICA, INC.

 13046   PHYSICIANS RISK RETENTION GROUP LLC                             27 Gage Terrace                        Bigfork       MT     59911-3544   Brenda M. Olson               (406) 282-0170         MT

 12497   PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC                3250 Grey Hawk Court, Unit Z          Carlsbad       CA     92010-6651   Mary Claire Goff              (877) 587-1763         MT

 13067   PROFESSIONALS RISK RETENTION GROUP, INC.                        27 Gage Terrace                        Bigfork       MT     59911-3544   Brenda M. Olson               (406) 282-0170         MT

 13974   VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.                  27 Gage Terrace                        Bigfork       MT     59911-3544   Brenda M. Olson               (406) 282-0170         MT
                                                                                                       Nebraska
 11500   LENDERS PROTECTION ASSUR CO RRG                                 1212 North 96th Street                 Omaha         NE     68114-2274   Ronald Lee Wheeler            (402) 399-3325         NE
                                                                                                          Nevada
 13606   AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP 1707 Village Center Circle, Suite          Las Vegas      NV     89134-0515   Rick O'Brien                  (702) 938-3175         NV
                                                                    100

 13177   ARCOA RISK RETENTION GROUP, INC.                                1325 Airmotive Way, Suite 100             Reno       NV     89502-3294   Michelle Renee Trimble        (602) 263-6755x427     NV

 11033   AUTOMOTIVE UNDERWRITERS INS CO A RRG                            5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Bjorn K. Hubbard              (800) 226-0793x329     NV

 13010   BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP 5430 West Sahara Avenue                     Las Vegas      NV     89146-3307   Michael T. Rogers             (702) 678-6868         NV

 12003   EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG           5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Bjorn K. Hubbard              (800) 226-0793x329     NV
         (EMPAC)

 11714   EMERGENCY PHYSICIANS INS CO RRG                                 1528 Eureka Road, Suite 102           Roseville      CA     95661-3047   Paul Shampay                  (916) 772-2080         NV

 11145   GOLDEN INS CO RRG                                               9121 West Russell Road, Suite         Las Vegas      NV     89148-1238   Len Clapp                     (303) 388-             NV
                                                                         113                                                                                                    5688x1446

 13973   GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK                    5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Andrew Carlton                (800) 223-0793         NV
         RETENTION GROUP, INC.

 11950   HOME CONSTRUCTION INS CO RRG                                    5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Katie Gray                    (800) 226-0793         NV

 12594   J.M. WOODWORTH RRG, INC.                                        3655 Brookside Parkway, Suite        Alpharetta      GA     30022-1430   Donna K. Dalton               (678) 781-2400         NV
                                                                         200

 13014   LANCET INDEMNITY RISK RETENTION GROUP, INC.                     5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Gemma Agustin-Tuanqui         (800) 226-0793         NV

 11947   LEWIS & CLARK LTC RRG, INC                                      3655 Brookside Parkway, Suite        Alpharetta      GA     30022-1429   Donna K. Dalton               (678) 781-2400         NV
                                                                         200

 14084   LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP               5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Linda Villani                 (800) 226-0793x316     NV

 12235   NATIONAL BUILDERS & CONTRACTORS INS                             5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Gemma Agustin-Tuanqui         (800) 226-0793         NV

 12539   NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.                  5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Teresa Marie Matthews         (941) 955-0793         NV

 13810   PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.         15615 North 71st Street, Suite        Scottsdale     AZ     85254-2150   James Shook                   (802) 371-2273         NV
                                                                         103

 13995   PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.                  5430 West Sahara Avenue               Las Vegas      NV     89146-3307   Andrew Carlton                (800) 223-0793         NV

 12350   PHYSICIANS COMPLIANCE LIABILITY INSURANCE COMPANY, RRG          832 Willow Street                         Reno       NV     89502-1304   Mauricio Fernandez            (305) 662-7839         NV




The most current FSRs must be verified by visiting www.demotech.com.                                                                                                       2nd Quarter 2011 - RRG Analysis
                                                      Risk Retention Groups - Listing by State
 NAIC Company Name                                                   Address                                City        State      Zip       Statement Contact            Phone                State of
                                                                                                                                                                                               Domicile
 12746   PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.             Building G, 7890 Peters Road,        Plantation     FL     33324-4028   Anca Vague                   (954) 236-2400         NV
                                                                     Suite 106

 12613   PREMIER PHYSICIANS INSURANCE COMPANY, RRG                   575 South Saliman Road              Carson City     NV     89701-5000   Phyllis Zink                 (775) 887-2480         NV

 13179   PROAIR RISK RETENTION GROUP, INC.                           5430 West Sahara Avenue              Las Vegas      NV     89146-3307   Teresa Marie Matthews        (941) 955-0793         NV

 12988   SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP        7251 West Lake Mead                  Las Vegas      NV     89128-8370   Rebecca S. Boudreau          (802) 864-1710         NV
                                                                     Boulevard, Suite 401

 13993   STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.          5430 West Sahara Avenue              Las Vegas      NV     89146-3307   Katie Gray                   (800) 226-0793         NV

 12915   URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP          5430 West Sahara Avenue              Las Vegas      NV     89146-3307   Andrew Carlton               (800) 223-0793         NV
                                                                                                    Oklahoma
 11063   VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP   2007 Poole Drive                     Huntsville     AL     35810-3891   Susan Marie Urie             (843) 640-3170         OK
                                                                                              South Carolina
 12013   ALLIED SERVICES RISK RETENTION GROUP                        Building C, 1327 Ashley River       Charleston      SC     29407-5384   Len T. Logan                 (877) 872-7475          SC
                                                                     Road, Suite 200

 11590   AMERICAN FOREST CAS CO RRG                                  1800 Second Street, Suite 909        Sarasota       FL     34236-5998   Teresa Marie Matthews        (941) 955-0793          SC

 12224   ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.         177 Meeting Street, Suite 470       Charleston      SC     29401-3160   Virginia Adrihan             (843) 853-0446x205      SC

 11544   CAREGIVERS UNITED LIAB INS CO RRG                           Building C, 1327 Ashley River       Charleston      SC     29407-5384   Kim Connelly Bloomer         (802) 371-2251          SC
                                                                     Road, Suite 200

 11694   CENTRAL PA PHYSICIANS RRG INC                               177 Meeting Street, Suite 470       Charleston      SC     29401-3160   Virginia Adrihan             (843) 853-0446x205      SC

 11992   CLARIAN HLTH RRG INC                                        340 West Tenth Street, Suite        Indianapolis    IN     46202-3082   Tonia Epps                   (843) 577-1034          SC
                                                                     3100

 11807   COMMUNITIES OF FAITH RRG INC                                2711 Middleburg Drive, Suite         Columbia       SC     29204-2475   Bjorn K. Hubbard             (800) 226-0793x329      SC
                                                                     309-A

 11798   CONTINUING CARE RRG, INC.                                   223-B Heatley Street               Moncks Corner    SC     29461-3781   Katie Gray                   (800) 226-0793          SC

 12015   EMERGENCY MEDICINE RRG INC                                  151 Meeting Street, Suite 301       Charleston      SC     29401-2238   Mannu Luo                    (843) 577-1035          SC

 11698   FAITH AFFILIATED RRG INC                                    One Poston Road, Suite 155          Charleston      SC     29407-3441   Kelly Bourne                 (843) 614-3132          SC

 11801   FIRST KEYSTONE RISK RETENTION GROUP, INC.                   4421 Aramingo Avenue                Philadelphia    PA     19124-4101   Joseph Schmidt               (215) 235-5000          SC

 12512   GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.         One Poston Road, Suite 155          Charleston      SC     29407-3441   Dawn M. Dinardo              (843) 614-3134          SC

 11581   GRACO RRG INC                                               One Poston Road, Suite 155          Charleston      SC     29407-3441   Dawn M. Dinardo              (843) 614-3134          SC

 11970   GULF BUILDERS RRG INC                                       8300 North Hayden Road, Suite        Scottsdale     AZ     85258-2479   Todd Stewart                 (480) 948-4351          SC
                                                                     A100

 12014   GUTHRIE RRG                                                 151 Meeting Street, Suite 301       Charleston      SC     29401-2238   Jason McMillan               (843) 577-1032          SC

 11683   HEALTHCARE PROVIDERS INS CO RRG                             Building C, 1327 Ashley River       Charleston      SC     29407-5384   Geoffrey Lewis Salmon        (404) 835-0454          SC
                                                                     Road, Suite 200

 11097   HERITAGE WARRANTY INS RRG INC                               Building C, 1327 Ashley River       Charleston      SC     29407-5384   Kim Connelly Bloomer         (802) 371-2251          SC
                                                                     Road, Suite 200

 11589   JAMESTOWN INS CO RRG                                        Building C, 1327 Ashley River       Charleston      SC     29407-5384   Jeffry M. delMas             (802) 371-2252          SC
                                                                     Road, Suite 200

 11684   LVHN RRG                                                    151 Meeting Street, Suite 301       Charleston      SC     29401-2238   Mannu Luo                    (843) 577-1035          SC




The most current FSRs must be verified by visiting www.demotech.com.                                                                                                 2nd Quarter 2011 - RRG Analysis
                                                     Risk Retention Groups - Listing by State
 NAIC Company Name                                                    Address                                    City       State      Zip       Statement Contact              Phone                State of
                                                                                                                                                                                                     Domicile
 11197   NATIONAL INDEPENDENT TRUCKERS IC RRG                         Building C, 1327 Ashley River         Charleston       SC     29407-5384   Nicole S. Hubler               (802) 371-2249          SC
                                                                      Road, Suite 200

 12529   NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.     One Poston Road, Suite 155            Charleston       SC     29407-3441   Michael John Coulter                                   SC

 12532   NEW STAR RISK RETENTION GROUP, INC.                          1180 Sam Rittenberg Boulevard,        Charleston       SC     29407-3384   Piper H. Crockett              (843) 573-4946          SC
                                                                      Suite 235

 10752   NOVUS INS CO RRG                                             1180 Sam Rittenberg Boulevard,        Charleston       SC     29407-3384   Elizabeth J. Forney            (843) 573-4834          SC
                                                                      Suite 235

 12189   OCEANUS INS CO A RRG                                         Building C, 1327 Ashley River         Charleston       SC     29407-5384   Len T. Logan                   (877) 872-7475          SC
                                                                      Road, Suite 200

 12004   PHOEBE RECIPROCAL RRG                                        177 Meeting Street, Suite 470         Charleston       SC     29401-3160   Virginia Adrihan               (843) 853-0446x205      SC

 12507   PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP   151 Meeting Street, Suite 301         Charleston       SC     29401-2238   Christopher Craig Leigh        (843) 577-1360          SC

 11513   PHYSICIANS SPECIALTY LTD RRG                                 4535 Dressler Road, NW                   Canton        OH     44718-2545   Jeffry M. delMas               (802) 371-2252          SC

 13078   RED CLAY RISK RETENTION GROUP, INC.                          14382 US Highway 19, South            Thomasville      GA     31757-4801   Cory E. Brown                  (229) 226-1937x106      SC

 12019   REPUBLIC RRG                                                 1180 Sam Rittenberg Boulevard,        Charleston       SC     29407-3384   Robert G. Meetze               (843) 573-4676          SC
                                                                      Suite 235

 11712   SAINT LUKE'S HLTH SYSTEM RRG                                 1327 Ashley River Road, Suite         Charleston       SC     29407-5384   Alicia D. Colella              (802) 371-2238          SC
                                                                      200

 12511   SAMARITAN RISK RETENTION GROUP, INC.                         One Poston Road, Suite 155            Charleston       SC     29407-3441   Dawn M. Dinardo                (843) 614-3134          SC

 12907   SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.              One Poston Road, Suite 155            Charleston       SC     29407-3441   Kelly Bourne                   (843) 614-3132          SC

 11114   ST CHARLES INS CO RRG                                        Building C, 1327 Ashley River         Charleston       SC     29407-5384   Len T. Logan                   (877) 872-7475          SC
                                                                      Road, Suite 200

 13135   SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC       One Poston Road, Suite 155            Charleston       SC     29407-3441   Kelly Bourne                   (843) 614-3132          SC

 11669   SUPERIOR INS CO RRG                                          1180 Sam Rittenberg Boulevard,        Charleston       SC     29407-3384   Robert G. Meetze               (843) 573-4676          SC
                                                                      Suite 235

 11153   TITAN INS CO INC RRG                                         Building C, 1327 Ashley River         Charleston       SC     29407-5384   Shamus Roff                    (802) 371-2253          SC
                                                                      Road, Suite 200
                                                                                                   Tennessee
 44130   PARATRANSIT INSURANCE COMPANY, RRG                           1000 Ridgeway Loop Road                  Memphis       TN     38120-4045   Anita M. Perkins               (802) 371-2219         TN
                                                                                                       Texas
 12300   AMERICAN CONTRACTORS INS CO RRG                              12222 Merit Drive, Suite 1660              Dallas      TX     75251-3212   Suzanne Walsh                  (800) 563-6051          TX
                                                                                                       Utah
 12627   LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY         5679 South Redwood Road,             Salt Lake City    UT     84123-5464   Bonnie Clark                   (800) 730-6614x208     UT
                                                                      Suite 26
                                                                                                      Virginia
 41246   HOW INSURANCE COMPANY, A RISK RETENTION GROUP                11401 Century Oaks Terrace,                Austin      TX     78758-8702   Brenda J. Stewart              (512) 404-6555         VA
                                                                      Suite 310
                                                                                                      Vermont
 12934   ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK       1250 Broadway, Suite 3401               New York       NY     10001-3713   Claire Veronica Oyelaja        (646) 808-0596          VT
         RETENTION GROUP

 12557   ACBG RISK RETENTION GROUP, LLC                               100 Bank Street, Suite 610            Burlington       VT     05401-4946   Linda B. Elliott               (802) 864-2750          VT

 13677   AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP      100 Bank Street, Suite 610            Burlington       VT     05401-4946   Jay E. Curtis                  (802) 864-6301          VT


The most current FSRs must be verified by visiting www.demotech.com.                                                                                                       2nd Quarter 2011 - RRG Analysis
                                                       Risk Retention Groups - Listing by State
 NAIC Company Name                                             Address                                   City          State      Zip       Statement Contact               Phone            State of
                                                                                                                                                                                             Domicile
 10023   ALLIANCE OF NONPROFITS FOR INS RRG                    2386 Airport Road                        Barre           VT     05641-8629   Cindy L. Lyford                 (802) 371-2227      VT

 10903   AMERICAN EXCESS INS EXCHANGE RRG                      12554 High Bluff Drive, Suite 430      San Diego         CA       92130      Kathryn Michener Boucher        (802) 863-4400      VT

 25448   AMERICAN SAFETY RRG INC                               100 Galleria Parkway, SE, Suite         Atlanta          GA     30339-5947   Matthew Robert Pollak           (770) 568-3000      VT
                                                               700

 12171   AMERIGUARD RRG INC                                    2386 Airport Road                        Barre           VT     05641-8629   Scott C. Stone                  (802) 371-2231      VT

 10639   ATTORNEYS LIAB ASSUR SOCIETY INC RRG                  311 South Wacker Drive, Suite           Chicago          IL     60606-6629   Keith Russell Craven            (312) 697-6950      VT
                                                               5700

 10174   BAR VERMONT RISK RETENTION GROUP INC                  76 Saint Paul Street, Suite 500        Burlington        VT     05401-4477   Jeremiah Mahaney                (802) 264-4715      VT

 12933   BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.         40 Main Street, Suite 200              Burlington        VT     05401-8492   Tara Jean Smith                 (802) 735-1679      VT

 13788   BROADLINE RISK RETENTION GROUP, INC.                  100 Bank Street, Suite 610             Burlington        VT     05401-4946   Melissa H. Larose               (802) 864-1716      VT

 10808   CASSATT RISK RETENTION GROUP INC                      76 Saint Paul Street, Suite 500        Burlington        VT     05401-4477   Scott Andrew Maille             (802) 264-4711      VT

 11531   CHC CAS RRG                                           100 Bank Street, Suite 610             Burlington        VT     05401-4946   Amy L. Daigle                   (802) 864-1717      VT

 12308   CIMARRON INSURANCE EXCHANGE RRG                       30 Main Street, Suite 450              Burlington        VT     05401-8427   Paula A. French                 (802) 371-2321      VT

 11839   CIRCLE STAR INS CO RRG                                58 East View Lane, Suite Two             Barre           VT     05641-5324   Renee LaGue                     (802) 223-2200      VT

 12172   CLAIM PROFESSIONALS LIAB INS CO RRG                   17742 Irvine Boulevard, Suite            Tustin          CA     92780-3255   Ramon Robert Ramos V            (802) 371-2275      VT
                                                               102

 13613   COLLEGE RISK RETENTION GROUP, INC.                    100 Bank Street, Suite 610             Burlington        VT     05401-4946   Jennifer L. Pettengill          (802) 864-2111      VT

 10803   COLUMBIA NATIONAL RRG INC                             100 Bank Street, Suite 610             Burlington        VT     05401-4946   John H. Raymond                 (802) 864-2751      VT

 11864   COMCARE PRO INS RECIPROCAL RRG                        40 Main Street, Suite 200              Burlington        VT     05401-8492   Jonathan J. McKenzie            (802) 264-2073      VT

 11536   COMMUNITY HEALTH ALLIANCE RECIP RRG                   100 Bank Street, Suite 610             Burlington        VT     05401-4946   Rebecca S. Boudreau             (802) 864-1710      VT

 11259   COMMUNITY HOSPITAL RRG                                2547 Washington Road, 720           Upper Saint Clair    PA     15241-2557   Donna B. Normand                (802) 871-5063      VT
                                                               Summerfield Commons

 11528   CONSORTIUM RRG                                        150 Bank Street, Suite 201             Burlington        VT     05401-4411   Tara Jean Smith                 (802) 735-1679      VT

 10075   CONSUMER SPECIALTIES INS CO RRG                       2386 Airport Road-Berlin                 Barre           VT     05641-8629   Paula A. French                 (802) 371-2321      VT

 10341   CONTROLLED RISK INS CO OF VT RRG                      100 Bank Street, Suite 610             Burlington        VT     05401-4946   Melissa H. Larose               (802) 864-1716      VT

 10164   CPA MUTUAL INS CO OF AMERICA RRG                      40 Main Street, Suite 200              Burlington        VT     05401-8492   David D. Guerino                (802) 264-2060      VT

 11676   CRUDEN BAY RRG INC                                    30 Main Street, Suite 450              Burlington        VT     05401-8427   Abigail M. Bernier              (802) 371-2233      VT

 13655   CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP           100 Blank Street, Suite 610            Burlington        VT       05401      John H. Raymond                 (802) 864-2751      VT

 10115   EASTERN DENTISTS INS CO RRG                           148 College Street, Suite 204          Burlington        VT     05401-8476   Stephen M. Brown                (802) 861-2930      VT

 38466   EVERGREEN USA RRG INC                                 10 Falcon Road                         Lewiston          ME     04240-5833   Eric Gilcris                    (802) 264-4577      VT

 11278   FIRST MEDICAL INS CO RRG                              100 Bank Street, Suite 610             Burlington        VT     05401-4946   Jodi K. Guzzardo                (802) 864-6332      VT

 10842   FRANKLIN CASUALTY INS CO RRG                          100 Bank Street, Suite 610             Burlington        VT     05401-4946   Delisca A. Christian            (802) 864-2110      VT

 12016   FREDERICKSBURG PROFESSIONAL RISK EXC                  2386 Airport Road                        Barre           VT     05641-8629   Scott C. Stone                  (802) 371-2231      VT

 12000   GEISINGER INS CORP RRG                                76 Saint Paul Street, Suite 500        Burlington        VT     05401-4477   Ronda Lynn Devino               (802) 264-4593      VT

 10163   GENERAL EASTERN SKI INS RRG INC                       76 Saint Paul Street                   Burlington        VT     05401-4470   Dyan O'Herne                    (802) 264-4713      VT



The most current FSRs must be verified by visiting www.demotech.com.                                                                                                   2nd Quarter 2011 - RRG Analysis
                                                     Risk Retention Groups - Listing by State
 NAIC Company Name                                                   Address                               City        State      Zip       Statement Contact            Phone                State of
                                                                                                                                                                                              Domicile
 11948   GLOBAL HAWK INSURANCE COMPANY RRG                           148 College Street, Suite 204      Burlington      VT     05401-8476   Stephen M. Brown             (802) 861-2930          VT

 11941   GREEN HILLS INS CO RRG                                      100 Bank Street, Suite 610         Burlington      VT     05401-4946   Jeffrey M. Tucker            (802) 864-5599          VT

 13057   HAMDEN ASSURANCE RRG, INC.                                  30 Main Street, Suite 330          Burlington      VT     05401-8427   Joseph Bernard Percy         (802) 419-1218          VT

 11998   HEARTLAND HEALTHCARE RECIP RRG                              40 Main Street, Suite 200          Burlington      VT     05401-8492   David D. Guerino             (802) 264-2060          VT

 26797   HOUSING AUTHORITY RRG INC                                   189 Commerce Court, P.O. Box        Cheshire       CT     06410-0189   Paulette Achilli             (203) 272-8220x442      VT
                                                                     189

 11268   ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP        1401 H Street, NW, Suite 1000     Washington       DC     20005-2031   Charles Warren Behr          (202) 326-5464          VT

 11692   INDIANA HEALTHCARE RECIP RRG                                40 Main Street, Suite 200          Burlington      VT     05401-8492   Alihan Alihan                (802) 264-2074          VT

 11803   LAKE STREET RRG INC                                         76 Saint Paul Street, Suite 500    Burlington      VT     05401-4477   Theresa Mae Carpenter        (802) 862-4400          VT

 10697   MCIC VERMONT INC RRG                                        76 Saint Paul Street, Suite 500    Burlington      VT     05401-4477   Diane M. Hanson              (802) 652-1571          VT

 44237   MENTAL HEALTH RISK RETENTION GROUP                          103 Eisenhower Parkway, Suite       Roseland       NJ     07068-1029   Merissa S. Bushey            (802) 863-2398          VT
                                                                     101

 11999   MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP       148 College Street, Suite 204      Burlington      VT     05401-8476   Mary Mario Richards          (802) 861-2930x104      VT

 13812   MOUNTAIN LAKE RISK RETENTION GROUP, INC.                    76 Saint Paul Street, Suite 500    Burlington      VT     05401-4477   Andrew Hamme                 (802) 264-4592          VT

 11547   MOUNTAIN LAUREL RRG INC                                     100 Bank Street, Suite 610         Burlington      VT     05401-4946   Amanda R. Wescott            (802) 864-2037          VT

 10083   NATIONAL CATHOLIC RRG                                       148 College Street, Suite 204      Burlington      VT     05401-8476   Mary Mario Richards          (802) 861-2930x104      VT

 13059   NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK         100 Bank Street, Suite 610         Burlington      VT     05401-4946   Lisa M. Kane                 (802) 864-2120          VT
         RETENTION GROUP

 13644   OASIS RECIPROCAL RISK RETENTION GROUP                       40 Main Street, Suite 200          Burlington      VT     05401-8492   Gary A. Griswold             (802) 658-9466          VT

 10353   OOIDA RISK RETENTION GROUP INC                              58 East View Lane, Suite Two         Barre         VT     05641-5324   Steve Bevins                 (802) 223-2200          VT

 44105   OPHTHALMIC MUTUAL INS CO RRG                                655 Beach Street                  San Francisco    CA     94109-1336   Les J. Scaccalosi            (415) 202-4618          VT

 10171   ORDINARY MUTUAL A RRG CORP                                  76 Saint Paul Street, Suite 500    Burlington      VT     05401-4477   Trish L. Desranleau          (802) 652-1556          VT

 11575   PACE RRG INC                                                76 Saint Paul Street, Suite 500    Burlington      VT     05401-4477   Gary P. O'Hare               (802) 652-1568          VT

 11846   PEACE CHURCH RRG INC                                        148 College Street, Suite 204      Burlington      VT     05401-8476   Mary Mario Richards          (802) 861-2930x104      VT

 11587   PELICAN INS RRG                                             40 Main Street, Suite 200          Burlington      VT     05401-8492   Jonathan J. McKenzie         (802) 264-2073          VT

 12918   PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION   100 Bank Street, Suite 610         Burlington      VT     05401-4946   Delisca A. Christian         (802) 864-2110          VT
         GROUP

 11514   PHYSICIANS PROFESSIONAL LIABILTY RRG                        76 Saint Paul Street, Suite 500    Burlington      VT     05401-4477   Stacey Gibbs                 (802) 264-4588          VT

 10934   PHYSICIANS REIMBURSEMENT RRG                                2386 Airport Road                    Barre         VT     05641-8629   Alicia Rubalcaba             (802) 371-2216          VT

 12348   PINE TREE INS RECIPROCAL RRG                                2386 Airport Road                    Barre         VT     05641-8629   Alicia Rubalcaba             (802) 371-2216          VT

 11980   PINNACLE CONSORTIUM OF HIGHER ED RRG                        100 Bank Street, Suite 610         Burlington      VT     05401-4946   Marcy Waterfall              (802) 864-6269          VT

 12608   PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK    100 Bank Street, Suite 610         Burlington      VT     05401-4946   Michael A. Czaplicke         (802) 864-2109          VT
         RETENTION GROUP

 11350   PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION   100 Bank Street, Suite 610         Burlington      VT     05401-4946   Marcy Waterfall              (802) 864-6269          VT
         GROUP)

 11808   SCHUYKILL CROSSING RECIPROCAL RRG                           76 Saint Paul Street, Suite 500    Burlington      VT     05401-4477   Bill Mourelatos              (802) 652-1558          VT



The most current FSRs must be verified by visiting www.demotech.com.                                                                                                2nd Quarter 2011 - RRG Analysis
                                                    Risk Retention Groups - Listing by State
 NAIC Company Name                                                 Address                                 City       State      Zip       Statement Contact             Phone            State of
                                                                                                                                                                                          Domicile
 11267   SECURITY AMERICA RRG INC                                  100 Bank Street, Suite 610           Burlington     VT     05401-4946   Jodi K. Guzzardo              (802) 864-6332      VT

 11688   ST LUKES HEALTH NETWORK INS CO RRG                        76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Mary Desranleau               (802) 264-4710      VT

 44075   STATES SELF-INSURERS RRG                                  222 South Ninth Street, Suite        Minneapolis    MN     55402-3332   Sheryl Ann Sattler            (612) 766-3000      VT
                                                                   1300

 10476   STICO MUT INS CO RRG                                      76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Becki Minoli                  (802) 264-4576      VT

 10113   TERRA INS CO RRG                                          2386 Airport Road                       Barre       VT     05641-8629   Abigail M. Bernier            (802) 371-2233      VT

 10152   THE HEALTHCARE UNDERWRITING CO RRG                        100 Bank Street, Suite 610           Burlington     VT     05401-4946   Marcy Waterfall               (802) 864-6269      VT

 10084   TITLE INDUSTRY ASSURANCE CO RRG                           76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Trisha Desranleau             (802) 652-1556      VT

 11548   UNITED CENTRAL PA RRG                                     76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Sheri Tremblay                (802) 652-1554      VT

 10020   UNITED EDUCATORS INS RRG INC                              Two Wisconsin Circle, Fourth         Chevy Chase    MD     20815-9913   Karen Lee Verdon              (301) 215-6423      VT
                                                                   Floor

 10712   UNITED HOME INSURANCE CO A RRG                            100 Bank Street, Suite 610           Burlington     VT     05401-4946   Delisca A. Christian          (802) 864-2110      VT

 11802   WARREN RRG INC                                            100 Bank Street, Suite 610           Burlington     VT     05401-4946   Jay E. Curtis                 (802) 864-6301      VT

 11682   WELLSPAN RRG                                              100 Bank Street, Suite 610           Burlington     VT     05401-4946   Jennifer L. Pettengill        (802) 864-2111      VT

 13154   WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP       100 Bank Street, Suite 610           Burlington     VT     05401-4946   Lisa H. Manley                (802) 864-2124      VT

 11796   YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)   30 Main Street, Suite 450            Burlington     VT     05401-8427   Anita M. Perkins              (802) 371-2219      VT
                                                                                                West Virginia
 12779   MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.            One Poston Road, Suite 155           Charleston     SC     29407-3441   Kelly Bourne                  (843) 614-3132     WV




The most current FSRs must be verified by visiting www.demotech.com.                                                                                                2nd Quarter 2011 - RRG Analysis
                                                    Risk Retention Groups - Listing by State
 NAIC Company Name                                                 Address                                 City       State      Zip       Statement Contact             Phone            State of
                                                                                                                                                                                          Domicile
 11267   SECURITY AMERICA RRG INC                                  100 Bank Street, Suite 610           Burlington     VT     05401-4946   Jodi K. Guzzardo              (802) 864-6332      VT

 11688   ST LUKES HEALTH NETWORK INS CO RRG                        76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Mary Desranleau               (802) 264-4710      VT

 44075   STATES SELF-INSURERS RRG                                  222 South Ninth Street, Suite        Minneapolis    MN     55402-3332   Sheryl Ann Sattler            (612) 766-3000      VT
                                                                   1300

 10476   STICO MUT INS CO RRG                                      76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Becki Minoli                  (802) 264-4576      VT

 10113   TERRA INS CO RRG                                          2386 Airport Road                       Barre       VT     05641-8629   Abigail M. Bernier            (802) 371-2233      VT

 10152   THE HEALTHCARE UNDERWRITING CO RRG                        100 Bank Street, Suite 610           Burlington     VT     05401-4946   Marcy Waterfall               (802) 864-6269      VT

 10084   TITLE INDUSTRY ASSURANCE CO RRG                           76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Trisha Desranleau             (802) 652-1556      VT

 11548   UNITED CENTRAL PA RRG                                     76 Saint Paul Street, Suite 500      Burlington     VT     05401-4477   Sheri Tremblay                (802) 652-1554      VT

 10020   UNITED EDUCATORS INS RRG INC                              Two Wisconsin Circle, Fourth         Chevy Chase    MD     20815-9913   Karen Lee Verdon              (301) 215-6423      VT
                                                                   Floor

 10712   UNITED HOME INSURANCE CO A RRG                            100 Bank Street, Suite 610           Burlington     VT     05401-4946   Delisca A. Christian          (802) 864-2110      VT

 11802   WARREN RRG INC                                            100 Bank Street, Suite 610           Burlington     VT     05401-4946   Jay E. Curtis                 (802) 864-6301      VT

 11682   WELLSPAN RRG                                              100 Bank Street, Suite 610           Burlington     VT     05401-4946   Jennifer L. Pettengill        (802) 864-2111      VT

 13154   WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP       100 Bank Street, Suite 610           Burlington     VT     05401-4946   Lisa H. Manley                (802) 864-2124      VT

 11796   YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)   30 Main Street, Suite 450            Burlington     VT     05401-8427   Anita M. Perkins              (802) 371-2219      VT
                                                                                                West Virginia
 12779   MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.            One Poston Road, Suite 155           Charleston     SC     29407-3441   Kelly Bourne                  (843) 614-3132     WV




The most current FSRs must be verified by visiting www.demotech.com.                                                                                                2nd Quarter 2011 - RRG Analysis
This page is intentionally blank.
                                 Risk Retention Groups - Assets By State
  NAIC     COMPANY                                                                     Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                                    Invested Assets
                                                                                   Alabama
   11668   COASTAL INS RRG INC                                                         $46,860,374        $1,121,849      $5,303,104        $53,285,327
                                                              Sub-total Alabama       $46,860,374       $1,121,849       $5,303,104        $53,285,327

                                                                                   Arizona
   12166   ADVANCED PHYSICIANS INS RRG INC                                             $1,223,365            $0            $231,035         $1,454,400
   11710   ALLIED PROFESSIONALS INSURANCE COMPANY, RRG                                 $21,736,559        $144,808        $1,621,914        $23,503,281
   10232   AMERICAN ASSOC OF OTHODONTISTS RRG                                          $30,859,255         $15,167         $891,610         $31,766,032
   11598   APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.                                    $59,320,316        $607,630        $21,876,601       $81,804,547
   11976   CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.                            $11,025,524           $0           $3,197,864        $14,223,388
   12167   CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG                                 $3,778,963          $28,404         $145,900         $3,953,267
   10125   ELITE TRANSPORTATION RRG INC                                                $10,830,652        $111,213        $2,712,134        $13,653,999
   12625   FORT WAYNE MEDICAL SURETY COMPANY, RRG                                      $3,388,806            $0           $1,092,384        $4,481,190
   12576   MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP                         $1,032,918          $15,457         $32,724          $1,081,099
   12147   MIDWEST PROVIDER INSURANCE COMPANY, RRG                                     $8,065,028         $995,345         $425,017         $9,485,390
   13062   OLYMPIA RISK RETENTION GROUP, INC.                                          $1,103,567            $0           $1,177,785        $2,281,352
   12183   ORANGE COUNTY MEDICAL RECIP INS RRG                                         $4,092,692            $0           $1,028,713        $5,121,405
   12995   PHP RISK RETENTION GROUP, LIMITED                                           $13,724,652           $0           $2,202,583        $15,927,235
   13736   RED ROCK RISK RETENTION GROUP, INC.                                         $24,068,871           $0           $7,520,437        $31,589,308
   12209   RESTORATION RISK RETENTION GROUP, INC.                                      $38,576,688        $106,487        $4,760,801        $43,443,976
   11978   WESTERN INS RRG INC                                                          $533,151             $0            $27,976           $561,127
                                                               Sub-total Arizona     $233,361,007       $2,024,511      $48,945,478        $284,330,996

                                                                                   Colorado
   44016   NATIONAL HOME INSURANCE CO RRG                                              $50,254,751        $3,243,657       $864,705         $54,363,113
   40940   WESTERN PACIFIC MUT INS CO RRG                                             $132,646,458        $170,660        $3,279,801       $136,096,919
                                                              Sub-total Colorado     $182,901,209       $3,414,317       $4,144,506        $190,460,032

                                                                            District of Columbia
   12252   AEGIS HEALTHCARE RRG, INC.                                                  $1,781,388          $52,191        $1,886,983        $3,720,562
   33677   ATTORNEYS INS MUTUAL OF ALABAMA INC                                         $15,043,605          $8,525         $285,329         $15,337,459
   13795   ATTPRO RRG RECIPROCAL RISK RETENTION GROUP                                  $1,465,845          $5,284          $51,634          $1,522,763
   11825   CARE RRG INC                                                                $9,001,168         $1,062,198      $1,541,327        $11,604,693
   12373   CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP                       $37,557,899        $865,348        $30,782,564       $69,205,811
   13756   CMIC RISK RETENTION GROUP                                                   $3,223,630            $0            $353,311         $3,576,941
   11842   DUBOIS MEDICAL RRG                                                          $6,525,357            $0            $10,798          $6,536,155
   11840   FAIRWAY PHYSICIANS INS CO RRG                                               $10,984,947        $3,254,118      $4,937,634        $19,176,699
   10991   GLOBAL INTL INS CO INC A RRG                                                $17,240,409           $0           $1,168,372        $18,408,781
   12236   HEALTH CARE CAS RRG INC                                                     $14,951,100       $24,048,583      $2,567,425        $41,567,108
   11813   HEALTH NETWORK PROVIDERS MUT INS CO                                         $7,047,958            $0            $574,397         $7,622,355
   11832   HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG             $17,158,678       $97,415,859      $37,538,931      $152,113,468
           (HEALTHCAP RRG)
   11824   INTERMODAL INSURANCE COMPANY, RRG                                           $1,254,210         $6,594,373       $211,151         $8,059,734
   11958   LIFE SERVICES NETWORK RECIP INS RRG                                         $7,474,967            $0            $473,107         $7,948,074
   13589   MEDPRO RRG RISK RETENTION GROUP                                             $4,434,957         $7,103,795      $6,026,823        $17,565,575
   10124   MEDSTAR LIABILITY LTD INS CO INC RRG                                        $3,187,384         $1,466,182       $979,589         $5,633,155
   11806   NATIONAL ASSISTED LIVING RRG INC                                            $6,822,512            $0            $559,713         $7,382,225
   10234   NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)                           $12,355,986         $87,338         $258,337         $12,701,661
   13792   NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP                 $7,099,892          $7,601         $2,093,291        $9,200,784
   12275   NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG                            $8,411,847            $0           $4,352,248        $12,764,095
   10158   OCEAN RRG INC                                                               $6,288,258            $0           $5,167,509        $11,455,767
   11973   PCH MUTUAL INSURANCE COMPANY, RRG                                           $7,442,690         $350,955         $580,315         $8,373,960
   11772   PEDIATRICANS INS RRG OF AMER                                                $1,064,122         $174,803         $116,443         $1,355,368
   12198   PINELANDS INS CO RRG INC                                                     ($25,534)         $306,751        $3,112,135        $3,393,352
   11858   PINNACLE RRG INC                                                            $2,565,058            $0            $22,052          $2,587,110
   11671   PROBUILDERS SPECIALTY INS CO RRG                                            $16,566,562       $100,039,068     $41,119,045      $157,724,675
   12010   REGIONAL HEALTH INS CO RRG                                                   $724,439          $1,838,466       $37,878          $2,600,783
   12524   SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.               $490,622          $3,823,697      $1,044,914        $5,359,233
   13571   SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG                        $5,983,994         $5,782,620      $6,211,206        $17,977,820
   13557   SIGMA RRG, INC.                                                             $7,381,300            $0           $1,658,615        $9,039,915
   10754   SPIRIT MOUNTAIN INS CO RRG INC                                              $5,484,133            $0            $281,806         $5,765,939
   13786   VIRGINIA SENIOR CARE RISK RETENTION GROUP                                   $2,232,544         $223,964         $156,187         $2,612,695
                                                  Sub-total District of Columbia     $249,221,927      $254,511,719     $156,161,069       $659,894,715



The most current FSRs must be verified by visiting www.demotech.com.                                                       2nd Quarter 2011 - RRG Analysis
                                 Risk Retention Groups - Assets By State
  NAIC     COMPANY                                                                     Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                                    Invested Assets
                                                                                   Delaware
   43125   DELAWARE PROFESSIONAL INSURANCE CO                                           $10,076,152          $0            $450,979         $10,527,131
   12018   INDEMNITY INSURANCE CORPORATION, RRG                                         $15,494,640       $1,623,946      $25,145,978       $42,264,564
   12554   MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP                  $1,984,447           $0           $1,958,789        $3,943,236
   11117   MARATHON FIN INS CO INC RRG                                                  $3,847,169           $0           $9,461,657        $13,308,826
   14026   SUNLAND RISK RETENTION GROUP, INC.                                           $1,514,040           $0           $2,126,611        $3,640,651
   12280   UNITED CONTRACTORS INS CO INC RRG                                            $21,564,546       $154,066        $5,073,466        $26,792,078
                                                           Sub-total Delaware         $54,480,994       $1,778,012      $44,217,480        $100,476,486

                                                                                    Florida
   11809   PONCE DE LEON LTC RRG, INC.                                                  $14,918,078       $644,048        $1,432,218        $16,994,344
                                                             Sub-total Florida        $14,918,078        $644,048        $1,432,218        $16,994,344

                                                                                   Georgia
   11065   CHATTAHOCHEE RRG CAPTIVE INS CO                                              $4,926,489           $0            $625,979         $5,552,468
   12159   JOLIET AREA RRG CAPTIVE INS CO                                               $8,708,122           $0           $1,016,063        $9,724,185
                                                            Sub-total Georgia         $13,634,611            $0          $1,642,042        $15,276,653

                                                                                    Hawaii
   11965   ALLEGIANT INS CO INC A RRG                                                   $10,118,235       $1,018,861       $156,968         $11,294,064
   22670   ATTORNEYS INSURANCE MUTUAL RRG INC                                           $15,504,533       $470,001         $663,928         $16,638,462
   44504   CALIFORNIA HEALTHCARE INS CO INC RRG                                         $92,624,232        $23,011        $17,715,009      $110,362,252
   43770   CLINIC MUTUAL INSURANCE CO RRG                                               $6,642,840        $145,453         $130,914         $6,919,207
   44598   COLLEGE LIABILITY INS CO A RECIP RRG                                         $9,041,478           $0           $2,092,313        $11,133,791
   11603   CONTRACTORS INS CO OF NORTH AMER RRG                                         $33,485,695       $2,797,953       $122,692         $36,406,340
   13782   GERIC INSURANCE RISK RETENTION GROUP, INC.                                   $1,008,082           $0              $473           $1,008,555
   10080   HEALTH PROVIDERS INS RECIPROCAL RRG                                          $71,777,026          $0           $5,469,066        $77,246,092
   26257   MEDAMERICA MUTUAL RRG INC                                                    $61,960,974          $0           $10,149,263       $72,110,237
   36072   NATIONAL GUARDIAN RRG INC                                                    $11,921,621       $2,154,755      $3,277,063        $17,353,439
   13582   PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP                     $6,213,025           $0             $7,610          $6,220,635
   10840   PROFESSIONAL MEDICAL INS RRG INC                                              $311,931            $0            $23,590           $335,521
   10691   RESIDENTIAL INS CO INC A RRG                                                 $2,358,485        $255,565         $12,287          $2,626,337
   12005   SENTINEL ASSUR RRG INC                                                       $14,515,413          $0           $3,612,410        $18,127,823
   13988   UV INSURANCE RISK RETENTION GROUP, INC.                                       $506,565            $0            $420,191          $926,756
                                                             Sub-total Hawaii        $337,990,135       $6,865,599      $43,853,777        $388,709,511

                                                                                    Iowa
   44202   AMERICAN FEED INDUSTRY INS CO RRG                                            $6,253,451           $0            $102,825         $6,356,276
                                                               Sub-total Iowa          $6,253,451            $0          $102,825           $6,356,276

                                                                                    Illinois
   44121   OMS NATL INS CO RRG                                                         $297,725,162      $17,760,912      $22,915,955      $338,402,029
                                                              Sub-total Illinois     $297,725,162       $17,760,912     $22,915,955        $338,402,029

                                                                                   Indiana
   28380   AGRI INSURANCE EXCHANGE RRG                                                  $13,425,991          $0            $35,999          $13,461,990
   13893   COMMUNITY BLOOD CENTERS EXCH RRG                                             $22,524,668       $181,005        $1,675,428        $24,381,101
                                                            Sub-total Indiana         $35,950,659        $181,005        $1,711,427        $37,843,091

                                                                                   Kentucky
   13580   ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP            $972,324            $0           $1,262,452        $2,234,776
   13018   DOCTORS & SURGEONS NATIONAL RRG                                              $4,680,861           $0           $1,228,361        $5,909,222
   11872   KENTUCKIANA MEDICAL RECIPROCAL RRG                                           $43,146,851          $0           $5,421,803        $48,568,654
   11939   KENTUCKY HOSPITAL INS CO RRG                                                 $20,048,116        $28,688        $2,254,282        $22,331,086
                                                           Sub-total Kentucky         $68,848,152         $28,688       $10,166,898        $79,043,738

                                                                                   Missouri
   44083   PREFERRED PHYSICIANS MEDICAL RRG                                            $186,170,720        $77,465        $3,658,069       $189,906,254
                                                            Sub-total Missouri       $186,170,720         $77,465        $3,658,069        $189,906,254

                                                                                   Montana
   12631   AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.                                  $32,605          $28,765        $1,110,919        $1,172,289
   11534   AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG                  $11,905,421        $60,698        $1,162,261        $13,128,380
   14005   ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC               $511,040            $0            $51,533           $562,573
   32450   ATTORNEYS LIAB PROTECTION SOC RRG                                            $82,439,948       $2,785,592      $7,997,892        $93,223,432


The most current FSRs must be verified by visiting www.demotech.com.                                                       2nd Quarter 2011 - RRG Analysis
                                  Risk Retention Groups - Assets By State
  NAIC     COMPANY                                                                   Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                                  Invested Assets
   13784   CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP                      $614,791             $0            $40,790           $655,581
   13720   CROSSFIT RISK RETENTION GROUP, INC.                                        $821,905             $0            $175,129          $997,034
   11696   GUARDIAN RRG INC                                                          $4,379,221            $0           $1,193,101        $5,572,322
   12355   MD RISK RETENTION GROUP, INC.                                             $11,545,297        $408,013         $581,525         $12,534,835
   11585   MOUNTAIN STATES HEALTHCARE RECIP RRG                                      $94,324,615           $0           $3,145,919        $97,470,534
   12293   NATIONAL CONTRACTORS INS CO INC RRG                                       $4,930,864        $10,649,979      $2,613,425        $18,194,268
   12845   OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.       $2,850,935            $0            $719,903         $3,570,838
   13046   PHYSICIANS RISK RETENTION GROUP LLC                                       $1,545,243            $0            $573,826         $2,119,069
   12497   PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC                          $22,958,025       $17,664,388      $7,939,083        $48,561,496
   13067   PROFESSIONALS RISK RETENTION GROUP, INC.                                  $1,912,680         $626,387        $1,326,921        $3,865,988
   13974   VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.                            $1,713,305           $720           $573,802         $2,287,827
                                                             Sub-total Montana     $242,485,895       $32,224,542     $29,206,029        $303,916,466

                                                                                 Nebraska
   11500   LENDERS PROTECTION ASSUR CO RRG                                           $2,363,278          $17,061         $95,961          $2,476,300
                                                            Sub-total Nebraska      $2,363,278          $17,061         $95,961           $2,476,300

                                                                                  Nevada
   13606   AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP                $1,064,864            $0            $546,500         $1,611,364
   13177   ARCOA RISK RETENTION GROUP, INC.                                          $7,572,346            $0            $989,071         $8,561,417
   13010   BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP                 $1,886,081            $0            $438,439         $2,324,520
   12003   EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)             $9,889,268         $261,338        $4,878,812        $15,029,418
   11714   EMERGENCY PHYSICIANS INS CO RRG                                           $34,675,575        $130,666        $5,388,504        $40,194,745
   11145   GOLDEN INS CO RRG                                                         $3,583,684          $58,082        $1,320,439        $4,962,205
   13973   GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP,              $15,170              $0            $721,622          $736,792
           INC.
   11950   HOME CONSTRUCTION INS CO RRG                                              $6,176,725            $0            $315,298         $6,492,023
   12594   J.M. WOODWORTH RRG, INC.                                                  $8,341,876         $5,472,704      $2,523,012        $16,337,592
   13014   LANCET INDEMNITY RISK RETENTION GROUP, INC.                               $5,476,447            $0           $3,343,738        $8,820,185
   11947   LEWIS & CLARK LTC RRG, INC                                                $14,123,240        $4,709,292      $5,034,235        $23,866,767
   14084   LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP                          $504,314             $0               $0             $504,314
   12235   NATIONAL BUILDERS & CONTRACTORS INS                                       $4,548,829            $0           $1,063,246        $5,612,075
   12539   NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.                            $2,837,848         $129,152         $172,383         $3,139,383
   13810   PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.                    $778,235             $0            $48,014           $826,249
   13995   PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.                            $1,080,925            $0           $1,043,192        $2,124,117
   13179   PROAIR RISK RETENTION GROUP, INC.                                          $136,225             $0            $700,689          $836,914
   12988   SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP                      $7,472,116            $0            $650,194         $8,122,310
   13993   STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.                         $341,116           $15,312         $199,837          $556,265
   12915   URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP                        $1,886,564         $381,607         $242,123         $2,510,294
                                                              Sub-total Nevada     $112,391,448       $11,158,153     $29,619,348        $153,168,949

                                                                                 Oklahoma
   11063   VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP                 $2,476,160            $0            $192,925         $2,669,085
                                                            Sub-total Oklahoma      $2,476,160             $0          $192,925           $2,669,085

                                                                             South Carolina
   12013   ALLIED SERVICES RISK RETENTION GROUP                                      $5,157,896            $0            $12,500          $5,170,396
   11590   AMERICAN FOREST CAS CO RRG                                                $7,757,951          $22,143         $890,507         $8,670,601
   12224   ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.                       $1,702,819            $0            $68,799          $1,771,618
   11544   CAREGIVERS UNITED LIAB INS CO RRG                                         $28,677,981           $0           $3,822,023        $32,500,004
   11694   CENTRAL PA PHYSICIANS RRG INC                                             $58,391,181           $0           $2,988,291        $61,379,472
   11992   CLARIAN HLTH RRG INC                                                      $11,492,429           $78          $11,661,437       $23,153,944
   11807   COMMUNITIES OF FAITH RRG INC                                              $13,415,617           $0            $593,341         $14,008,958
   11798   CONTINUING CARE RRG, INC.                                                 $3,436,735            $0           $2,516,487        $5,953,222
   12015   EMERGENCY MEDICINE RRG INC                                                $8,335,382            $0           $3,842,957        $12,178,339
   11698   FAITH AFFILIATED RRG INC                                                  $6,980,304            $0            $229,706         $7,210,010
   11801   FIRST KEYSTONE RISK RETENTION GROUP, INC.                                 $10,503,644        $926,625        $9,282,508        $20,712,777
   12512   GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.                       $2,583,899            $0            $437,354         $3,021,253
   11581   GRACO RRG INC                                                              $498,812             $0            $915,064         $1,413,876
   12014   GUTHRIE RRG                                                               $49,534,803           $0            $413,675         $49,948,478
   11683   HEALTHCARE PROVIDERS INS CO RRG                                           $60,775,190          $819          $1,947,464        $62,723,473
   11097   HERITAGE WARRANTY INS RRG INC                                              $941,302          $760,000         $50,219          $1,751,521
   11589   JAMESTOWN INS CO RRG                                                      $2,862,894         $1,303,617      $1,872,258        $6,038,769
   11684   LVHN RRG                                                                  $32,418,240           $0           $5,145,000        $37,563,240



The most current FSRs must be verified by visiting www.demotech.com.                                                     2nd Quarter 2011 - RRG Analysis
                                   Risk Retention Groups - Assets By State
  NAIC     COMPANY                                                                    Cash and       Net Reinsurance   Other Assets      Total Assets
                                                                                   Invested Assets
   11197   NATIONAL INDEPENDENT TRUCKERS IC RRG                                        $4,622,549        $471,700        $3,220,929        $8,315,178
   12529   NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.                    $4,612,088        $824,727         $544,090         $5,980,905
   12532   NEW STAR RISK RETENTION GROUP, INC.                                         $7,622,316           $0            $184,235         $7,806,551
   10752   NOVUS INS CO RRG                                                            $10,792,221       $787,380        $4,050,989        $15,630,590
   12189   OCEANUS INS CO A RRG                                                        $54,602,904       $4,230,274      $8,977,088        $67,810,266
   12004   PHOEBE RECIPROCAL RRG                                                       $4,588,461           $0            $40,345          $4,628,806
   12507   PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP                  $36,547,425       $240,380        $14,087,319       $50,875,124
   11513   PHYSICIANS SPECIALTY LTD RRG                                                $10,302,905       $336,182         $231,348         $10,870,435
   13078   RED CLAY RISK RETENTION GROUP, INC.                                         $2,662,464           $0           $2,114,143        $4,776,607
   11712   SAINT LUKE'S HLTH SYSTEM RRG                                                $19,183,741       $762,406         $383,835         $20,329,982
   12511   SAMARITAN RISK RETENTION GROUP, INC.                                        $16,344,411          $0           $3,992,656        $20,337,067
   12907   SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.                             $40,049,092          $0           $6,619,351        $46,668,443
   11114   ST CHARLES INS CO RRG                                                       $10,474,788          $0            $275,286         $10,750,074
   13135   SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC                       $751,121            $0             $9,510           $760,631
   11669   SUPERIOR INS CO RRG                                                         $9,364,743        $1,716,072      $8,041,758        $19,122,573
   11153   TITAN INS CO INC RRG                                                        $28,387,932          $0           $1,129,446        $29,517,378
                                                    Sub-total South Carolina         $566,376,240      $12,382,403     $100,591,918       $679,350,561

                                                                                  Tennessee
   44130   PARATRANSIT INSURANCE COMPANY, RRG                                          $20,948,901          $0           $1,555,079        $22,503,980
                                                           Sub-total Tennessee       $20,948,901            $0          $1,555,079        $22,503,980

                                                                                    Texas
   12300   AMERICAN CONTRACTORS INS CO RRG                                             $6,531,740           $0           $15,009,723       $21,541,463
                                                               Sub-total Texas        $6,531,740            $0         $15,009,723        $21,541,463

                                                                                    Utah
   12627   LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY                        $2,423,593           $0           $1,156,056        $3,579,649
                                                                Sub-total Utah        $2,423,593            $0          $1,156,056         $3,579,649

                                                                                   Virginia
   41246   HOW INSURANCE COMPANY, A RISK RETENTION GROUP                              $121,409,961       $125,048        $2,246,239       $123,781,248
                                                             Sub-total Virginia      $121,409,961       $125,048        $2,246,239        $123,781,248

                                                                                  Vermont
   12934   ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION            $2,177,497         $32,158        $1,059,835        $3,269,490
           GROUP
   12557   ACBG RISK RETENTION GROUP, LLC                                              $2,073,541           $0           $1,430,079        $3,503,620
   13677   AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP                     $3,765,649        $466,987         $181,705         $4,414,341
   10023   ALLIANCE OF NONPROFITS FOR INS RRG                                          $40,026,668       $990,881        $6,932,745        $47,950,294
   10903   AMERICAN EXCESS INS EXCHANGE RRG                                           $412,883,020          $0           $5,475,118       $418,358,138
   25448   AMERICAN SAFETY RRG INC                                                     $9,184,511        $1,676,731      $4,740,374        $15,601,616
   12171   AMERIGUARD RRG INC                                                          $11,373,297          $0            $547,319         $11,920,616
   10639   ATTORNEYS LIAB ASSUR SOCIETY INC RRG                                       $105,305,595      $24,656,121      $48,810,705      $178,772,421
   10174   BAR VERMONT RISK RETENTION GROUP INC                                        $15,602,958       $2,994,038       $678,539         $19,275,535
   12933   BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.                               $15,857,646          $0           $10,091,472       $25,949,118
   13788   BROADLINE RISK RETENTION GROUP, INC.                                        $54,886,837          $0           $15,448,505       $70,335,342
   10808   CASSATT RISK RETENTION GROUP INC                                            $4,187,157           $0            $193,663         $4,380,820
   11531   CHC CAS RRG                                                                 $32,210,620          $0           $5,152,298        $37,362,918
   12308   CIMARRON INSURANCE EXCHANGE RRG                                             $3,914,996           $0           $3,274,398        $7,189,394
   11839   CIRCLE STAR INS CO RRG                                                      $1,628,767           $0           $3,261,234        $4,890,001
   12172   CLAIM PROFESSIONALS LIAB INS CO RRG                                         $1,567,584           $0           $1,204,983        $2,772,567
   13613   COLLEGE RISK RETENTION GROUP, INC.                                          $8,141,026           $0            $122,777         $8,263,803
   10803   COLUMBIA NATIONAL RRG INC                                                   $1,752,635           $0            $30,148          $1,782,783
   11864   COMCARE PRO INS RECIPROCAL RRG                                              $3,303,028           $0            $136,261         $3,439,289
   11536   COMMUNITY HEALTH ALLIANCE RECIP RRG                                        $112,717,713          $0           $10,768,580      $123,486,293
   11528   CONSORTIUM RRG                                                              $9,079,292        ($39,566)        $133,192         $9,172,918
   10075   CONSUMER SPECIALTIES INS CO RRG                                             $5,848,043        $179,947         $371,890         $6,399,880
   10341   CONTROLLED RISK INS CO OF VT RRG                                            $51,829,093          $0           $39,418,287       $91,247,380
   10164   CPA MUTUAL INS CO OF AMERICA RRG                                            $17,478,281       $1,475,737      $3,738,755        $22,692,773
   11676   CRUDEN BAY RRG INC                                                          $10,132,104          $0           $1,710,655        $11,842,759
   13655   CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP                                 $3,470,279           $0           $3,448,338        $6,918,617
   10115   EASTERN DENTISTS INS CO RRG                                                 $37,362,696       $280,028        $4,364,472        $42,007,196
   38466   EVERGREEN USA RRG INC                                                       $11,028,903       $184,525        $4,518,811        $15,732,239



The most current FSRs must be verified by visiting www.demotech.com.                                                      2nd Quarter 2011 - RRG Analysis
                                  Risk Retention Groups - Assets By State
  NAIC     COMPANY                                                                    Cash and       Net Reinsurance   Other Assets       Total Assets
                                                                                   Invested Assets
   11278   FIRST MEDICAL INS CO RRG                                                   $97,783,658           $0            $753,408          $98,537,066
   10842   FRANKLIN CASUALTY INS CO RRG                                                $5,253,166           $0            $3,779,750        $9,032,916
   12016   FREDERICKSBURG PROFESSIONAL RISK EXC                                       $22,097,967           $0            $6,686,368        $28,784,335
   12000   GEISINGER INS CORP RRG                                                      $1,492,159           $0           $10,000,035        $11,492,194
   10163   GENERAL EASTERN SKI INS RRG INC                                             $1,393,252           $0            $1,717,192        $3,110,444
   11948   GLOBAL HAWK INSURANCE COMPANY RRG                                           $6,671,646           $0            $1,588,354        $8,260,000
   11941   GREEN HILLS INS CO RRG                                                     $18,460,275           $0             $46,573          $18,506,848
   13057   HAMDEN ASSURANCE RRG, INC.                                                  $2,018,053           $0           $71,524,987        $73,543,040
   11998   HEARTLAND HEALTHCARE RECIP RRG                                             $14,731,547           $0            $524,072          $15,255,619
   26797   HOUSING AUTHORITY RRG INC                                                  $295,323,783       $512,414        $13,252,031       $309,088,228
   11268   ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP                       $270,396,574       $7,122,151      $21,301,294       $298,820,019
   11692   INDIANA HEALTHCARE RECIP RRG                                               $26,258,969           $0            $611,839          $26,870,808
   11803   LAKE STREET RRG INC                                                         $2,633,913           $0            $151,331          $2,785,244
   10697   MCIC VERMONT INC RRG                                                       $30,287,529         $36,067        $141,244,659      $171,568,255
   44237   MENTAL HEALTH RISK RETENTION GROUP                                         $20,436,880        $348,056         $1,284,057        $22,068,993
   11999   MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP                       $6,077,090        $600,049         $3,208,768        $9,885,907
   13812   MOUNTAIN LAKE RISK RETENTION GROUP, INC.                                    $1,034,361           $0            $1,666,957        $2,701,318
   11547   MOUNTAIN LAUREL RRG INC                                                     $8,975,957           $0            $5,409,406        $14,385,363
   10083   NATIONAL CATHOLIC RRG                                                      $58,234,425        $4,152,107       $1,385,089        $63,771,621
   13059   NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP         $7,220,562           $0            $725,852          $7,946,414
   13644   OASIS RECIPROCAL RISK RETENTION GROUP                                       $3,379,479           $0            $1,741,817        $5,121,296
   10353   OOIDA RISK RETENTION GROUP INC                                             $39,797,127           $0           $16,803,110        $56,600,237
   44105   OPHTHALMIC MUTUAL INS CO RRG                                               $214,205,980          $0           $11,438,108       $225,644,088
   10171   ORDINARY MUTUAL A RRG CORP                                                 $26,542,360           $0            $524,793          $27,067,153
   11575   PACE RRG INC                                                                $5,612,178        $8,708,722       $3,651,242        $17,972,142
   11846   PEACE CHURCH RRG INC                                                       $19,642,771           $0            $1,903,373        $21,546,144
   11587   PELICAN INS RRG                                                            $16,903,126           $0            $208,129          $17,111,255
   12918   PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP             $3,693,730           $0            $214,840          $3,908,570
   11514   PHYSICIANS PROFESSIONAL LIABILTY RRG                                       $38,696,365        $373,863         $3,525,166        $42,595,394
   10934   PHYSICIANS REIMBURSEMENT RRG                                               $24,760,902           $0            $1,997,654        $26,758,556
   12348   PINE TREE INS RECIPROCAL RRG                                               $13,272,722           $0            $1,540,898        $14,813,620
   11980   PINNACLE CONSORTIUM OF HIGHER ED RRG                                        $4,735,677        $807,500         $121,544          $5,664,721
   12608   PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION          $1,688,371         $8,379           $78,630          $1,775,380
           GROUP
   11350   PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)            $5,140,702         $81,396         $110,256          $5,332,354
   11808   SCHUYKILL CROSSING RECIPROCAL RRG                                          $22,772,801           $0            $3,340,191        $26,112,992
   11267   SECURITY AMERICA RRG INC                                                    $3,519,382        $288,744         $870,330          $4,678,456
   11688   ST LUKES HEALTH NETWORK INS CO RRG                                         $39,671,621           $0            $4,441,600        $44,113,221
   44075   STATES SELF-INSURERS RRG                                                   $21,018,749         $81,119         $197,299          $21,297,167
   10476   STICO MUT INS CO RRG                                                       $16,943,483        $278,719         $2,523,039        $19,745,241
   10113   TERRA INS CO RRG                                                           $24,118,572        $439,975         $6,498,758        $31,057,305
   10152   THE HEALTHCARE UNDERWRITING CO RRG                                         $23,631,771           $0           $46,274,271        $69,906,042
   10084   TITLE INDUSTRY ASSURANCE CO RRG                                             $5,276,171        $899,302         $1,776,636        $7,952,109
   11548   UNITED CENTRAL PA RRG                                                      $20,523,949           $0            $2,106,616        $22,630,565
   10020   UNITED EDUCATORS INS RRG INC                                               $594,066,019       $6,654,906      $29,338,198       $630,059,123
   10712   UNITED HOME INSURANCE CO A RRG                                              $4,179,300           $0            $1,215,425        $5,394,725
   11802   WARREN RRG INC                                                              $7,279,477           $0            $440,568          $7,720,045
   11682   WELLSPAN RRG                                                               $15,716,466           $0            $9,347,976        $25,064,442
   13154   WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP                         $2,644,013           $0            $171,016          $2,815,029
   11796   YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)                    $15,455,944         $45,321         $5,371,353        $20,872,618
                                                          Sub-total Vermont         $3,120,460,410     $64,336,377     $621,879,996       $3,806,676,783

                                                                                West Virginia
   12779   MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.                             $23,853,446           $0            $2,138,208        $25,991,654
                                                      Sub-total West Virginia        $23,853,446            $0          $2,138,208         $25,991,654

                                          Total - All Risk Retention Groups $5,950,037,551            $408,651,709     $1,147,946,330    $7,506,635,590




The most current FSRs must be verified by visiting www.demotech.com.                                                       2nd Quarter 2011 - RRG Analysis
This page is intentionally blank.
 NAIC   Company Name
                                                    Risk Retention Groups - Liabilities by State
                                                              Losses and     Unearned            Other             Total       Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                             LAE Reserves    Premium           Liabilities       Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                             Reserves                                                           (000's omitted)     Development Development
                                                                                                                                                                   (000's omitted) (000's omitted)

                                                                                               Alabama
 11668 COASTAL INS RRG INC                                   $20,998,862    $3,137,890        $8,022,710     $32,159,462       $21,125,865           $169             ($2,819)        ($6,446)             AL
                                        Sub-total Alabama    $20,998,862    $3,137,890        $8,022,710     $32,159,462       $21,125,865           $169             ($2,819)        ($6,446)       x

                                                                                                Arizona
 12166 ADVANCED PHYSICIANS INS RRG INC                           $0          $160,515           $7,289           $167,804       $1,286,596            $0                 $0              $0                AZ

 11710 ALLIED PROFESSIONALS INSURANCE COMPANY, RRG            $6,890,265    $5,595,162         $747,579      $13,233,006       $10,270,275          ($478)             ($168)          ($849)              AZ

 10232 AMERICAN ASSOC OF OTHODONTISTS RRG                    $19,312,290    $2,208,610        $1,786,905     $23,307,805        $8,458,227            $0              ($3,701)        ($4,351)             AZ

 11598 APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.              $40,878,913    $14,790,705       $3,515,767     $59,185,385       $22,619,162            $0               ($988)           $48                AZ

 11976 CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.       $6,017,575    $1,805,948         $326,214       $8,149,737        $6,073,651          ($551)             ($924)         ($1,821)             AZ

 12167 CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG             $567,528      $535,801          $22,019        $1,125,348        $2,827,919           $150              ($143)          ($205)              AZ

 10125 ELITE TRANSPORTATION RRG INC                           $5,106,445    $1,979,480        $4,795,283     $11,881,208        $1,772,791           ($8)               $71             $21                AZ

 12625 FORT WAYNE MEDICAL SURETY COMPANY, RRG                  $890,054     $1,224,455         $395,759       $2,510,268        $1,970,922            $0               ($233)          ($186)              AZ

 12576 MEDICAL INSURANCE UNDERWRITERS RISK RETENTION             $0             $0             $287,191          $287,191        $793,908             $5                 $0              $0                AZ
       GROUP
 12147 MIDWEST PROVIDER INSURANCE COMPANY, RRG                 $933,117      $357,237         $6,467,844      $7,758,198        $1,727,192            ($3)             $308             $110               AZ

 13062 OLYMPIA RISK RETENTION GROUP, INC.                     $1,098,194     $416,357          $93,954        $1,608,505         $672,847             $42              ($28)             $0                AZ

 12183 ORANGE COUNTY MEDICAL RECIP INS RRG                    $1,994,124     $291,750          $121,034       $2,406,908        $2,714,497            $0               ($585)          ($809)              AZ

 12995 PHP RISK RETENTION GROUP, LIMITED                     $11,774,322     $353,052          $199,926      $12,327,300        $3,599,935          $1,223             $973             $952               AZ

 13736 RED ROCK RISK RETENTION GROUP, INC.                   $12,231,980    $6,300,725         $348,325      $18,881,030       $12,708,279           ($29)              $0               $0                AZ

 12209 RESTORATION RISK RETENTION GROUP, INC.                $20,132,170    $5,084,277        $3,989,004     $29,205,451       $14,238,525            $1              ($1,691)        ($2,641)             AZ

 11978 WESTERN INS RRG INC                                       $0             $0             $25,500           $25,500         $535,627             $0                 $0            ($197)              AZ
                                         Sub-total Arizona   $127,826,977   $41,104,074      $23,129,593     $192,060,644      $92,270,353           $352             ($7,109)        ($9,928)       x

                                                                                               Colorado
 44016 NATIONAL HOME INSURANCE CO RRG                         $5,532,278    $23,399,788       $8,356,914     $37,288,980       $17,074,133           $363              ($58)            $651               CO

 40940 WESTERN PACIFIC MUT INS CO RRG                        $24,551,065    $23,402,516       $1,486,874     $49,440,455       $86,656,466           $225             ($8,590)        ($11,122)            CO
                                        Sub-total Colorado   $30,083,343    $46,802,304       $9,843,788     $86,729,435       $103,730,599          $588             ($8,648)       ($10,471)       x

                                                                                          District of Columbia
 12252 AEGIS HEALTHCARE RRG, INC.                             $1,447,105     $786,847          $191,201       $2,425,153        $1,295,409           ($1)              ($273)          ($373)              DC

 33677 ATTORNEYS INS MUTUAL OF ALABAMA INC                    $5,375,000    $1,173,368         $935,544       $7,483,912        $7,853,547          ($578)            ($1,808)        ($2,623)             DC

 13795 ATTPRO RRG RECIPROCAL RISK RETENTION GROUP               $5,563        $20,617          $28,274           $54,454        $1,468,309            $0              $40,830         $40,830              DC

 11825 CARE RRG INC                                           $4,752,931     $475,195         $1,758,079      $6,986,205        $4,618,488            $0               ($95)           ($482)              DC

 12373 CARING COMMUNITIES, A RECIPROCAL RISK                  $6,333,751    $2,499,597        $29,717,476    $38,550,824       $30,654,987            $0               ($600)           ($81)              DC
       RETENTION GROUP
 13756 CMIC RISK RETENTION GROUP                                $3,624       $356,254          $79,245           $439,123       $3,137,818            $0              $40,830         $40,830              DC


The most current FSRs must be verified by visiting www.demotech.com.                                                                                                       2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                      Risk Retention Groups - Liabilities by State
                                                                Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                               LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                               Reserves                                                     (000's omitted)     Development Development
                                                                                                                                                               (000's omitted) (000's omitted)

 11842 DUBOIS MEDICAL RRG                                       $2,193,353     $195,416       $25,811       $2,414,580      $4,121,575           ($31)              $45             $114               DC

 11840 FAIRWAY PHYSICIANS INS CO RRG                            $8,546,215    $5,653,368     $848,962      $15,048,545      $4,128,154          ($150)             ($549)          $1,476              DC

 10991 GLOBAL INTL INS CO INC A RRG                                $0             $0         $440,481       $440,481       $17,968,300            $0                 $0              $0                DC

 12236 HEALTH CARE CAS RRG INC                                 $28,421,264    $2,085,011    $9,458,917     $39,965,192      $1,601,916          ($236)             ($316)          ($867)              DC

 11813 HEALTH NETWORK PROVIDERS MUT INS CO                      $3,204,014     $392,118     $1,487,400      $5,083,532      $2,538,823            $0               ($788)         ($1,216)             DC

 11832 HEALTHCARE INDUSTRY LIABILITY RECIPROCAL                $105,572,223   $19,631,594   $18,732,810    $143,936,627     $8,176,841           ($50)             ($120)           $164               DC
       INSURANCE COMPANY, RRG (HEALTHCAP RRG)
 11824 INTERMODAL INSURANCE COMPANY, RRG                        $3,683,255    $1,328,032     $109,801       $5,121,088      $2,938,646           ($9)              ($546)          ($920)              DC

 11958 LIFE SERVICES NETWORK RECIP INS RRG                      $1,477,124     $631,538      $258,472       $2,367,134      $5,580,940          ($170)             ($100)          ($134)              DC

 13589 MEDPRO RRG RISK RETENTION GROUP                          $7,395,059    $4,081,301    $3,232,309     $14,708,669      $2,856,906           ($5)               ($1)             $0                DC

 10124 MEDSTAR LIABILITY LTD INS CO INC RRG                     $3,458,204     $828,434      $457,878       $4,744,516       $888,639             $0               ($312)          ($209)              DC

 11806 NATIONAL ASSISTED LIVING RRG INC                         $2,890,315    $1,030,185     $468,146       $4,388,646      $2,993,578          ($597)             ($383)         ($1,004)             DC

 10234 NATIONAL SERVICE CONTRACT INSURANCE COMPANY               $20,000      $1,633,971    $3,241,164      $4,895,135      $7,806,526           $137              ($320)          ($531)              DC
       (RRG)
 12579 NATIONWELD RISK RETENTION GROUP, INC.                       $0             $0            $0              $0              $0                $0               ($130)          ($206)              DC

 13792 NEW HOME WARRANTY INSURANCE COMPANY, A RISK               $85,824      $2,211,137    $1,815,593      $4,112,554      $5,088,230            $0                 $0              $0                DC
       RETENTION GROUP
 12275 NEW YORK HEALTHCARE INSURANCE COMPANY, INC.,             $8,104,725    $2,102,329    ($638,089)      $9,568,965      $3,195,130            $0               ($105)          ($379)              DC
       RRG
 12581 NJ CAR RISK RETENTION GROUP                                 $0             $0            $0              $0              $0                $0                 $0              $0                DC

 10158 OCEAN RRG INC                                            $7,968,384    $2,593,466     $144,039      $10,705,889       $749,879           $1,022            $1,585           $2,149              DC

 11973 PCH MUTUAL INSURANCE COMPANY, RRG                        $4,899,909    $1,008,994    ($159,665)      $5,749,238      $2,624,722            $0               ($842)          $2,180              DC

 12198 PINELANDS INS CO RRG INC                                 $1,786,102     $405,907      $613,305       $2,805,314       $588,038             $25             $1,040           $1,513              DC

 11858 PINNACLE RRG INC                                          $107,294         $0          $87,982       $195,276        $2,391,834           ($75)             ($286)          ($630)              DC

 11671 PROBUILDERS SPECIALTY INS CO RRG                        $138,391,526     $30,488     $4,421,111     $142,843,125    $14,881,550            $0               $765           ($2,206)             DC

 12010 REGIONAL HEALTH INS CO RRG                               $1,610,606        $0         $573,750       $2,184,356       $416,427             $9                $46             $12                DC

 12524 SCAFFOLD INDUSTRY INSURANCE COMPANY RISK                 $4,220,103     $317,067      $283,617       $4,820,787       $538,446             $13              ($148)          ($246)              DC
       RETENTION GROUP, INC.
 13571 SELECT PROVIDERS INSURANCE RECIPROCAL                    $5,984,634    $2,855,121    $8,324,645     $17,164,400       $813,420             $1                $24              $0                DC
       EXCHANGE A RRG
 13557 SIGMA RRG, INC.                                          $4,090,275    $1,118,336      $97,795       $5,306,406      $3,733,509           ($31)             ($461)         ($1,026)             DC

 10754 SPIRIT MOUNTAIN INS CO RRG INC                           $1,863,054     $500,179      $404,497       $2,767,730      $2,998,209          ($663)            ($1,379)        ($1,198)             DC

 13786 VIRGINIA SENIOR CARE RISK RETENTION GROUP                 $450,252      $210,797       $23,369       $684,418        $1,928,277           $161                $0              $0                DC
                              Sub-total District of Columbia   $364,341,688   $56,156,667   $87,463,919    $507,962,274    $150,577,073        ($1,228)           $75,603         $74,937        x

                                                                                             Delaware
 43125 DELAWARE PROFESSIONAL INSURANCE CO                       $6,367,230     $609,129      $126,452       $7,102,811      $3,424,320           ($81)            ($2,472)        ($2,497)             DE

The most current FSRs must be verified by visiting www.demotech.com.                                                                                                   2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                     Risk Retention Groups - Liabilities by State
                                                               Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                              LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                              Reserves                                                     (000's omitted)     Development Development
                                                                                                                                                              (000's omitted) (000's omitted)

 12938 FEDERAL MOTOR CARRIERS RISK RETENTION GROUP,               $0             $0            $0              $0              $0                $0              ($1,153)          $387               DE
       INC.
 12018 INDEMNITY INSURANCE CORPORATION, RRG                   $13,621,882    $10,527,036   $1,714,295     $25,863,213     $16,401,351         ($1,198)            $916            $2,724              DE

 12554 MAKE TRANSPORTATION INSURANCE, INC., A RISK             $1,153,384    $1,027,919     $490,342       $2,671,645      $1,271,591            $0               ($87)           ($502)              DE
       RETENTION GROUP
 11117 MARATHON FIN INS CO INC RRG                              $100,000      $925,908     $10,153,712    $11,179,620      $2,129,206           $132              ($175)          ($152)              DE

 14026 SUNLAND RISK RETENTION GROUP, INC.                       $134,498      $195,553     $2,309,016      $2,639,067      $1,001,584            $0              $40,830         $40,830              DE

 12280 UNITED CONTRACTORS INS CO INC RRG                      $12,256,170    $1,944,070      $5,425       $14,205,665     $12,586,413          $1,518            $6,201           $7,375              DE
                                        Sub-total Delaware    $33,633,164    $15,229,615   $14,799,242    $63,662,021     $36,814,465           $371             $44,060         $48,165        x

                                                                                             Florida
 11809 PONCE DE LEON LTC RRG, INC.                             $5,877,122    $2,235,965     $840,885       $8,953,972      $8,040,372            $0              $1,096           ($613)               FL
                                          Sub-total Florida    $5,877,122    $2,235,965     $840,885       $8,953,972      $8,040,372            $0              $1,096           ($613)        x

                                                                                             Georgia
 11065 CHATTAHOCHEE RRG CAPTIVE INS CO                         $2,500,066     $823,676      $208,600       $3,532,342      $2,020,126           $218              ($436)          ($614)              GA

 12159 JOLIET AREA RRG CAPTIVE INS CO                          $5,035,885    $1,010,499    $1,330,540      $7,376,924      $2,347,261          ($766)             ($338)           $39                GA
                                         Sub-total Georgia     $7,535,951    $1,834,175    $1,539,140     $10,909,266      $4,367,387          ($548)            ($774)           ($575)        x

                                                                                             Hawaii
 11965 ALLEGIANT INS CO INC A RRG                              $5,624,936        $0        $1,466,412      $7,091,348      $4,202,716            ($1)              $20             $128                HI

 22670 ATTORNEYS INSURANCE MUTUAL RRG INC                      $7,515,019        $0         $746,657       $8,261,676      $8,376,786           ($66)             $372             $381                HI

 44504 CALIFORNIA HEALTHCARE INS CO INC RRG                   $54,080,460    $7,995,572    $8,223,300     $70,299,332     $40,062,920          ($497)            ($8,833)        ($15,575)             HI

 43770 CLINIC MUTUAL INSURANCE CO RRG                           $66,837        $40,145       $35,438       $142,420        $6,776,787          ($198)             ($101)            $2                 HI

 44598 COLLEGE LIABILITY INS CO A RECIP RRG                    $2,503,518        $0          $44,308       $2,547,826      $8,585,964           $154              ($55)           ($764)               HI

 11603 CONTRACTORS INS CO OF NORTH AMER RRG                   $13,117,766    $1,123,309     $286,153      $14,527,228     $21,879,112           $538             ($5,461)        ($11,149)             HI

 10619 FIRST AUTOMOTIVE INS RRG INC                               $0             $0            $0              $0              $0                $0                 $0              $0                 HI

 13782 GERIC INSURANCE RISK RETENTION GROUP, INC.                 $0             $0            $0              $0          $1,008,555            $0                 $0              $0                 HI

 10080 HEALTH PROVIDERS INS RECIPROCAL RRG                    $27,714,990    $5,105,183    $1,420,041     $34,240,214     $43,005,878            $0              ($5,044)        ($8,713)              HI

 26257 MEDAMERICA MUTUAL RRG INC                              $27,180,051    $7,734,616    $11,871,938    $46,786,605     $25,323,632            $0              ($3,020)        ($4,329)              HI

 36072 NATIONAL GUARDIAN RRG INC                              $10,304,207    $1,380,354     $898,432      $12,582,993      $4,770,446            $25             ($1,718)        ($3,888)              HI

 13582 PIH INSURANCE COMPANY, A RECIPROCAL RISK                $2,695,378    $1,500,080     $134,517       $4,329,975      $1,890,660            $18              ($342)            $0                 HI
       RETENTION GROUP
 10840 PROFESSIONAL MEDICAL INS RRG INC                           $0             $0          $10,235        $10,235         $325,286             $0                 $0              $0                 HI

 10691 RESIDENTIAL INS CO INC A RRG                             $374,336     $1,086,232     $259,192       $1,719,760       $906,577            ($45)              $12             ($58)               HI

 12005 SENTINEL ASSUR RRG INC                                  $4,365,501    $3,033,551      $84,930       $7,483,982     $10,643,841           ($82)            ($3,597)        ($4,198)              HI

 13988 UV INSURANCE RISK RETENTION GROUP, INC.                  $92,178       $167,385      $141,309       $400,872         $525,884             $0                 $0              $0                 HI
                                          Sub-total Hawaii    $155,635,177   $29,166,427   $25,622,862    $210,424,466    $178,285,044         ($154)           ($27,767)       ($48,163)       x

The most current FSRs must be verified by visiting www.demotech.com.                                                                                                  2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                     Risk Retention Groups - Liabilities by State
                                                                Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                               LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                               Reserves                                                     (000's omitted)     Development Development
                                                                                                                                                               (000's omitted) (000's omitted)

                                                                                                Iowa
 44202 AMERICAN FEED INDUSTRY INS CO RRG                        $2,557,155        $0         $127,877       $2,685,032      $3,671,244          ($359)             ($868)         ($1,332)              IA
                                             Sub-total Iowa     $2,557,155        $0         $127,877       $2,685,032      $3,671,244          ($359)            ($868)          ($1,332)       x

                                                                                               Illinois
 44121 OMS NATL INS CO RRG                                     $156,330,861   $32,279,081   $12,313,575    $200,923,517    $137,478,512          $104            ($11,121)        ($20,997)             IL
                                          Sub-total Illinois   $156,330,861   $32,279,081   $12,313,575    $200,923,517    $137,478,512          $104            ($11,121)       ($20,997)       x

                                                                                              Indiana
 28380 AGRI INSURANCE EXCHANGE RRG                              $1,727,365     $426,647      $388,001       $2,542,013     $10,919,977          ($235)             ($144)          ($302)               IN

 13893 COMMUNITY BLOOD CENTERS EXCH RRG                         $8,179,168    $1,916,551    $3,228,307     $13,324,026     $11,057,075            $0              ($1,579)        ($4,554)              IN
                                        Sub-total Indiana       $9,906,533    $2,343,198    $3,616,308     $15,866,039     $21,977,052          ($235)            ($1,723)        ($4,856)       x

                                                                                             Kentucky
 13580 ARISE BOILER INSPECTION AND INSURANCE COMPANY             $100,000      $353,147      $158,453       $611,600        $1,623,176            $0                 $0              $0                 KY
       RISK RETENTION GROUP
 13018 DOCTORS & SURGEONS NATIONAL RRG                          $1,953,217    $1,522,516     $213,885       $3,689,618      $2,219,604            $18              $357             $199                KY

 11872 KENTUCKIANA MEDICAL RECIPROCAL RRG                      $25,605,230    $4,411,363     $183,524      $30,200,117     $18,368,538           $708             ($4,185)         ($292)               KY

 11939 KENTUCKY HOSPITAL INS CO RRG                             $8,199,692    $1,397,869    $2,407,482     $12,005,043     $10,326,043         ($1,116)            ($617)         ($4,347)              KY
                                       Sub-total Kentucky      $35,858,139    $7,684,895    $2,963,344     $46,506,378     $32,537,361          ($390)            ($4,445)        ($4,440)       x

                                                                                              Missouri
 44083 PREFERRED PHYSICIANS MEDICAL RRG                        $73,425,492    $6,055,308    $31,872,521    $111,353,321    $78,552,933            $0              ($8,067)        ($16,075)            MO
                                        Sub-total Missouri     $73,425,492    $6,055,308    $31,872,521    $111,353,321    $78,552,933            $0              ($8,067)       ($16,075)       x

                                                                                             Montana
 12631 AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.             $120,032       $29,530      $272,583        $422,145        $750,144             $3               ($29)            ($28)              MT

 11534 AMERICAN TRUCKING AND TRANSPORTATION                     $6,173,845    $1,281,935    $1,107,710      $8,563,490      $4,564,890           $432              $371             ($67)              MT
       INSURANCE COMPANY, RRG
 14005 ARTISAN CONTRACTORS INSURANCE COMPANY RISK                 $1,635        $31,255       $29,406        $62,296         $500,277             $0              $40,830         $40,830              MT
       RETENTION GROUP, LLC
 32450 ATTORNEYS LIAB PROTECTION SOC RRG                       $43,598,971    $13,703,664   $2,969,010     $60,271,645     $32,951,787         ($1,542)           ($5,498)        ($6,173)             MT

 13791 AVIATION ALLIANCE INSURANCE RISK RETENTION                  $0             $0            $0              $0              $0                $0                 $0              $0                MT
       GROUP, INC.
 13784 CATTLEMAN'S INSURANCE COMPANY, A RISK                     $18,475          $0          $48,020        $66,495         $589,086            ($6)                $0              $0                MT
       RETENTION GROUP
 13720 CROSSFIT RISK RETENTION GROUP, INC.                       $59,290       $252,312      $154,456       $466,058         $530,976             $0                 $0              $0                MT

 11696 GUARDIAN RRG INC                                         $1,608,166     $538,502      $139,467       $2,286,135      $3,286,187           ($1)              ($343)          ($426)              MT

 12355 MD RISK RETENTION GROUP, INC.                            $6,726,445        $0         $202,318       $6,928,763      $5,606,072            $5              $1,138           $1,762              MT

 11585 MOUNTAIN STATES HEALTHCARE RECIP RRG                    $48,668,384    $10,570,195   $4,020,153     $63,258,732     $34,211,802           $297             ($7,950)        ($7,598)             MT

 12293 NATIONAL CONTRACTORS INS CO INC RRG                     $11,595,849    $1,723,104     $877,455      $14,196,408      $3,997,860           $199              ($467)          ($153)              MT

 12845 OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION             $2,065,754     $405,394      $310,743       $2,781,891       $788,947             $70              ($266)          ($125)              MT
       GROUP OF AMERICA, INC.
The most current FSRs must be verified by visiting www.demotech.com.                                                                                                   2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                   Risk Retention Groups - Liabilities by State
                                                             Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                            LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                            Reserves                                                     (000's omitted)     Development Development
                                                                                                                                                            (000's omitted) (000's omitted)

 13046 PHYSICIANS RISK RETENTION GROUP LLC                    $913,073      $443,147       $23,788       $1,380,008       $739,061             $93              $208             ($65)              MT

 12497 PREFERRED CONTRACTORS INSURANCE COMPANY              $15,823,985    $6,659,397    $18,107,537    $40,590,919      $7,970,577           ($43)             $782             $704               MT
       RRG, LLC
 13067 PROFESSIONALS RISK RETENTION GROUP, INC.               $429,797     $1,638,518     $718,041       $2,786,356      $1,079,632            $0               ($135)           ($25)              MT

 13974 VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.         $34,141      $1,015,741     $436,678       $1,486,560       $801,267             $0                 $0              $0                MT
                                       Sub-total Montana    $137,837,842   $38,292,694   $29,417,365    $205,547,901    $98,368,565          ($493)            $28,641         $28,636        x

                                                                                          Nebraska
 11500 LENDERS PROTECTION ASSUR CO RRG                          $0             $0         $106,924       $106,924        $2,369,376            $0                 $0              $0                NE
                                       Sub-total Nebraska       $0             $0         $106,924       $106,924       $2,369,376             $0                $0               $0          x

                                                                                           Nevada
 13606 AGGREGATE SECURITY INSURANCE GROUP, A RISK             $624,487      $225,000       $40,539        $890,026        $721,338           ($512)             ($300)           ($43)              NV
       RETENTION GROUP
 13177 ARCOA RISK RETENTION GROUP, INC.                      $5,382,669        $0         $316,584       $5,699,253      $2,862,164           $225             $1,434           ($223)              NV

 11033 AUTOMOTIVE UNDERWRITERS INS CO A RRG                     $0             $0            $0              $0              $0                $0                 $0              $0                NV

 13010 BONDED BUILDERS INSURANCE COMPANY, A RISK              $20,014      $1,044,180     $178,503       $1,242,697      $1,081,823            $0                 $0              $4                NV
       RETENTION GROUP
 12003 EMERGENCY MEDICINE PROFESSIONAL ASSURANCE             $7,059,858    $2,184,549     $291,569       $9,535,976      $5,493,442           $155              $929           ($1,167)             NV
       COMPANY RRG (EMPAC)
 11714 EMERGENCY PHYSICIANS INS CO RRG                      $22,448,193    $6,893,276    $3,562,633     $32,904,102      $7,290,613           $803              ($203)           $455               NV

 11145 GOLDEN INS CO RRG                                      $488,133     $2,261,385      $94,608       $2,844,126      $2,118,079           $111              $781             $560               NV

 13973 GOVERNMENT TECHNOLOGY INSURANCE COMPANY                 $5,497        $49,756      $100,958       $156,211         $580,581             $0              $40,830         $40,830              NV
       RISK RETENTION GROUP, INC.
 11950 HOME CONSTRUCTION INS CO RRG                          $3,191,929      $62,432     $1,214,581      $4,468,942      $2,023,081           ($48)             ($184)          ($590)              NV

 12594 J.M. WOODWORTH RRG, INC.                              $5,107,003    $2,740,788    $3,439,690     $11,287,481      $5,050,111            $0                $38             $153               NV

 13014 LANCET INDEMNITY RISK RETENTION GROUP, INC.           $2,934,347    $4,055,013    ($782,480)      $6,206,880      $2,613,305            $14              $233            ($115)              NV

 11947 LEWIS & CLARK LTC RRG, INC                           $11,717,667    $5,207,121    $4,209,152     $21,133,940      $2,732,827            ($1)            $1,943           $1,071              NV

 12235 NATIONAL BUILDERS & CONTRACTORS INS                   $3,361,858     $234,856      $293,041       $3,889,755      $1,722,320           ($51)            $1,306            $840               NV

 12539 NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.        $1,749,940     $478,561       $32,384       $2,260,885       $878,498           ($209)             ($696)          ($843)              NV

 13810 PHYSICIANS BENEFIT RESOURCES RISK RETENTION             $9,317       $157,857      $134,841       $302,015         $524,234             $0                 $0              $0                NV
       GROUP, INC.
 13995 PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.         $60,932       $188,102     $1,352,718      $1,601,752       $522,365             $0                 $0              $0                NV

 12350 PHYSICIANS COMPLIANCE LIABILITY INSURANCE                $0             $0            $0              $0              $0                $0                 $0              $0                NV
       COMPANY, RRG
 12746 PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.          $0             $0            $0              $0              $0              $1,080             ($423)          ($631)              NV

 12613 PREMIER PHYSICIANS INSURANCE COMPANY, RRG                $0             $0            $0              $0              $0               ($59)            ($1,428)         ($398)              NV

 13179 PROAIR RISK RETENTION GROUP, INC.                      $65,121        $93,825      $146,690        $305,636        $531,278            ($48)             ($35)            ($1)               NV



The most current FSRs must be verified by visiting www.demotech.com.                                                                                                2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                   Risk Retention Groups - Liabilities by State
                                                          Losses and     Unearned         Other            Total       Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                         LAE Reserves    Premium        Liabilities      Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                         Reserves                                                       (000's omitted)     Development Development
                                                                                                                                                           (000's omitted) (000's omitted)

 12988 SCRUBS MUTUAL ASSURANCE COMPANY RISK              $3,130,327     $1,638,719      $440,845        $5,209,891      $2,912,419           $158              $180             ($55)              NV
       RETENTION GROUP
 13993 STATE CAPITOL INSURANCE RISK RETENTION GROUP,         $0           $23,079        $24,987         $48,066         $508,199             $0                 $0              $0                NV
       INC.
 12915 URGENT CARE ASSURANCE COMPANY RISK                 $501,479       $537,049       $280,659        $1,319,187      $1,191,107            $6               ($410)          ($151)              NV
       RETENTION GROUP
                                   Sub-total Nevada      $67,858,771    $28,075,548    $15,372,502     $111,306,821    $41,357,784          $1,624            $43,995         $39,696        x

                                                                                        Oklahoma
 11063 VEHICULAR SERVICE INSURANCE COMPANY, RISK          $250,000       $450,652          $0           $700,652        $1,968,433            $0               $250              $0                OK
       RETENTION GROUP
                                    Sub-total Oklahoma    $250,000       $450,652          $0           $700,652       $1,968,433             $0               $250              $0          x

                                                                                      South Carolina
 12013 ALLIED SERVICES RISK RETENTION GROUP              $2,517,883         $0           $96,373        $2,614,256      $2,556,140           $120              $591             $441                SC

 11590 AMERICAN FOREST CAS CO RRG                        $4,269,940      $776,124       ($43,814)       $5,002,250      $3,668,351          ($687)            ($1,424)        ($1,968)              SC

 12224 ASSET PROTECTION PROGRAM RISK RETENTION            ($48,728)         $0          $359,908        $311,180        $1,460,438           ($25)             $641             $451                SC
       GROUP, INC.
 11544 CAREGIVERS UNITED LIAB INS CO RRG                 $12,746,904    $3,095,245      $110,404       $15,952,553     $16,547,451           $680             ($2,439)        ($4,886)              SC

 11694 CENTRAL PA PHYSICIANS RRG INC                     $33,344,388    $6,614,963     $2,964,044      $42,923,395     $18,456,077          $5,626            ($1,728)        ($5,856)              SC

 11992 CLARIAN HLTH RRG INC                                  $0             $0         $20,722,424     $20,722,424      $2,431,520           $348                $0              $0                 SC

 11807 COMMUNITIES OF FAITH RRG INC                      $1,418,824      $758,470       $167,816        $2,345,110     $11,663,848            $20              ($54)           ($713)               SC

 11798 CONTINUING CARE RRG, INC.                         $1,969,027      $640,513       $419,994        $3,029,534      $2,923,688            $0                 $0             ($10)               SC

 12015 EMERGENCY MEDICINE RRG INC                        $2,011,714      $900,770       $923,839        $3,836,323      $8,342,016          $1,344           ($19,909)        ($16,778)             SC

 11698 FAITH AFFILIATED RRG INC                          $1,976,086      $162,977        $43,959        $2,183,022      $5,026,988            ($8)             $541             $320                SC

 11801 FIRST KEYSTONE RISK RETENTION GROUP, INC.         $10,406,889    $5,398,825      $776,745       $16,582,459      $4,130,318          ($419)            $1,109           $1,968               SC

 12512 GOOD SHEPHERD RECIPROCAL RISK RETENTION           $1,270,232      $381,905        $91,485        $1,743,622      $1,277,632           $431              $680             $898                SC
       GROUP, INC.
 11581 GRACO RRG INC                                         $0           $99,162       $804,675         $903,837        $510,038             $0                 $0              $0                 SC

 11970 GULF BUILDERS RRG INC                                 $0             $0             $0               $0              $0                $0               ($11)            ($3)                SC

 12014 GUTHRIE RRG                                       $34,526,629      $24,325        $81,287       $34,632,241     $15,316,237          $1,954             ($368)          ($211)               SC

 11683 HEALTHCARE PROVIDERS INS CO RRG                   $18,289,490    $3,621,203     $4,851,791      $26,762,484     $35,960,989            $61             ($4,698)        ($6,862)              SC

 11097 HERITAGE WARRANTY INS RRG INC                       $51,500       $697,973       $231,495         $980,968        $770,553           ($161)             ($67)             $0                 SC

 11589 JAMESTOWN INS CO RRG                              $3,164,244     $1,375,228      $111,552        $4,651,024      $1,387,745           $212              ($434)          ($193)               SC

 11684 LVHN RRG                                              $0             $0         $32,563,240     $32,563,240      $5,000,000          $2,452               $0              $0                 SC

 11197 NATIONAL INDEPENDENT TRUCKERS IC RRG              $1,839,493      $898,332       $629,639        $3,367,464      $4,947,714           ($80)             ($383)          ($490)               SC

 12529 NATIONAL MEDICAL PROFESSIONAL RISK RETENTION          $0             $0         $3,019,229       $3,019,229      $2,961,677            $0                 $0              $0                 SC
       GROUP, INC.
 12532 NEW STAR RISK RETENTION GROUP, INC.               $1,991,333       $90,633      $1,672,545       $3,754,511      $4,052,040            $0              $1,567            $137                SC

The most current FSRs must be verified by visiting www.demotech.com.                                                                                               2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                     Risk Retention Groups - Liabilities by State
                                                               Losses and     Unearned         Other           Total       Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                              LAE Reserves    Premium        Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                              Reserves                                                      (000's omitted)     Development Development
                                                                                                                                                               (000's omitted) (000's omitted)

 10752 NOVUS INS CO RRG                                       $12,428,924    $1,260,289     $1,496,146     $15,185,359       $445,231            $862             $3,400           $1,480               SC

 12189 OCEANUS INS CO A RRG                                   $30,055,999    $13,495,749    $8,976,482     $52,528,230     $15,282,036          $1,071            ($1,072)        ($1,073)              SC

 12004 PHOEBE RECIPROCAL RRG                                   $1,254,030     $217,726       $17,913        $1,489,669      $3,139,137            $0               ($329)          ($584)               SC

 12507 PHYSICIANS PROACTIVE PROTECTION, INC. RISK             $17,072,571    $7,337,836    $15,329,608     $39,740,015     $11,135,109           $535             ($2,765)        ($3,771)              SC
       RETENTION GROUP
 11513 PHYSICIANS SPECIALTY LTD RRG                            $3,481,493        $0         $1,826,398      $5,307,891      $5,562,544            $0               ($459)         ($1,533)              SC

 13078 RED CLAY RISK RETENTION GROUP, INC.                     $1,495,135     $834,083      ($24,564)       $2,304,654      $2,471,953            $7               ($170)          ($164)               SC

 12019 REPUBLIC RRG                                               $0             $0             $0              $0              $0                $0               ($18)            ($85)               SC

 11712 SAINT LUKE'S HLTH SYSTEM RRG                            $5,640,755     $391,391      $1,235,521      $7,267,667     $13,062,315           ($54)            ($1,168)        ($1,838)              SC

 12511 SAMARITAN RISK RETENTION GROUP, INC.                    $5,822,632    $4,303,594      $572,283      $10,698,509      $9,638,558            $1              ($1,875)        ($1,237)              SC

 12907 SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.        $23,350,157    $6,493,128     $9,010,074     $38,853,359      $7,815,083          $1,250            $3,388           $2,146               SC

 11114 ST CHARLES INS CO RRG                                   $4,792,153      $6,358        $902,537       $5,701,048      $5,049,026         ($6,792)             $0               $0                 SC

 13135 SUBURBAN HEALTH ORGANIZATION RISK RETENTION                $0             $0          $199,395       $199,395         $561,236             $0                 $0              $0                 SC
       GROUP, LLC
 11669 SUPERIOR INS CO RRG                                    $11,206,447     $416,396      $2,923,662     $14,546,505      $4,576,068           ($12)            $1,951           $1,838               SC

 11153 TITAN INS CO INC RRG                                       $0         $4,981,803     $1,287,830      $6,269,633     $23,247,745            $0                 $0              $0                 SC
                                   Sub-total South Carolina   $248,346,144   $65,275,001   $114,351,915    $427,973,060    $251,377,501         $8,736           ($25,503)       ($38,576)       x

                                                                                            Tennessee
 44130 PARATRANSIT INSURANCE COMPANY, RRG                     $11,058,843    $1,282,816     $1,073,183     $13,414,842      $9,089,137            $0              ($1,437)        ($2,628)             TN
                                       Sub-total Tennessee    $11,058,843    $1,282,816     $1,073,183     $13,414,842      $9,089,137            $0              ($1,437)        ($2,628)       x

                                                                                               Texas
 12300 AMERICAN CONTRACTORS INS CO RRG                            $0             $0        $15,010,548     $15,010,548      $6,530,915            $0                 $0              $0                 TX
                                            Sub-total Texas       $0             $0        $15,010,548     $15,010,548      $6,530,915            $0                $0               $0          x

                                                                                                Utah
 12627 LIBERTY FIRST RISK RETENTION GROUP INSURANCE            $2,393,971        $0          $80,477        $2,474,448      $1,105,201          ($127)             $157             $717               UT
       COMPANY
                                           Sub-total Utah      $2,393,971        $0          $80,477        $2,474,448      $1,105,201          ($127)             $157             $717         x

                                                                                             Virginia
 41246 HOW INSURANCE COMPANY, A RISK RETENTION                 $1,362,065        $0        $11,648,206     $13,010,271     $110,770,978        ($1,938)           $21,133         $38,496              VA
       GROUP
                                     Sub-total Virginia        $1,362,065        $0        $11,648,206     $13,010,271     $110,770,978        ($1,938)           $21,133         $38,496        x

                                                                                             Vermont
 12934 ACADEMIC MEDICAL PROFESSIONALS INSURANCE                 $40,695       $533,722      $1,144,105      $1,718,522      $1,550,967            $0                 $0              $0                VT
       EXCHANGE RISK RETENTION GROUP
 12557 ACBG RISK RETENTION GROUP, LLC                           $580,539      $739,540       $432,159       $1,752,238      $1,751,382            $0               ($202)          ($254)              VT

 13677 AFFILIATES INSURANCE RECIPROCAL, A RISK                  $380,551      $229,879       $857,266       $1,467,696      $2,946,645           ($1)                $0              $0                VT
       RETENTION GROUP


The most current FSRs must be verified by visiting www.demotech.com.                                                                                                   2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                 Risk Retention Groups - Liabilities by State
                                                        Losses and     Unearned        Other           Total       Policyholders'    Loss and LAE          1-Year          2-Year        State of
                                                       LAE Reserves    Premium       Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE     Domicile
                                                                       Reserves                                                     (000's omitted)     Development Development
                                                                                                                                                       (000's omitted) (000's omitted)

 10023 ALLIANCE OF NONPROFITS FOR INS RRG              $17,048,204    $5,391,492     $917,188      $23,356,884     $24,593,410          ($133)            ($1,244)        ($4,258)         VT

 10903 AMERICAN EXCESS INS EXCHANGE RRG                $155,541,127   $24,856,971   $18,389,580    $198,787,678    $219,570,460        ($20,760)         ($29,457)        ($46,367)        VT

 25448 AMERICAN SAFETY RRG INC                          $5,927,048     $614,906     $3,390,934      $9,932,888      $5,668,728            ($1)            $1,348           $1,796          VT

 12171 AMERIGUARD RRG INC                               $4,607,753     $37,495      $1,339,045      $5,984,293      $5,936,323          ($484)            ($1,911)        ($1,981)         VT

 10639 ATTORNEYS LIAB ASSUR SOCIETY INC RRG            $46,698,929    $11,704,139   $66,282,343    $124,685,411    $54,087,010          ($950)             ($992)           $166           VT

 10174 BAR VERMONT RISK RETENTION GROUP INC             $4,152,180     $618,469     $1,597,548      $6,368,197     $12,907,338          ($685)             ($714)          ($975)          VT

 12933 BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.   $11,604,143    $2,896,164    $7,021,865     $21,522,172      $4,426,946            ($1)             ($29)            $120           VT

 13788 BROADLINE RISK RETENTION GROUP, INC.            $49,352,778        $0         $66,390       $49,419,168     $20,916,174          ($221)              $0               $0            VT

 10808 CASSATT RISK RETENTION GROUP INC                 $379,120          $0         $246,665       $625,785        $3,755,035           ($82)             ($434)          ($191)          VT

 11531 CHC CAS RRG                                     $23,655,924    $4,569,875     $921,870      $29,147,669      $8,215,250            $30             ($2,802)         $2,078          VT

 12308 CIMARRON INSURANCE EXCHANGE RRG                  $3,512,263     $770,886      $926,109       $5,209,258      $1,980,136           $678               $69             $35            VT

 11839 CIRCLE STAR INS CO RRG                           $137,957       $173,022     $3,175,824      $3,486,803      $1,403,198            $0                 $0              $0            VT

 12172 CLAIM PROFESSIONALS LIAB INS CO RRG              $513,373       $200,026      $872,042       $1,585,441      $1,187,126            $57              ($23)            $199           VT

 13613 COLLEGE RISK RETENTION GROUP, INC.               $4,041,649     $743,195      $93,935        $4,878,779      $3,385,024           $452              ($164)            $0            VT

 10803 COLUMBIA NATIONAL RRG INC                           $0          $508,341      $200,460       $708,801        $1,073,982            $0                 $0              $0            VT

 11864 COMCARE PRO INS RECIPROCAL RRG                   $565,525       $154,306      $52,285        $772,116        $2,667,173           $350              ($170)           ($68)          VT

 11536 COMMUNITY HEALTH ALLIANCE RECIP RRG             $56,038,955    $8,266,656    $45,273,144    $109,578,755    $13,907,539         ($2,175)           $17,393         $19,524          VT

 11259 COMMUNITY HOSPITAL RRG                              $0             $0            $0              $0              $0               $367             ($5,330)        ($8,507)         VT

 11528 CONSORTIUM RRG                                   $1,303,611        $0         $74,856        $1,378,467      $7,794,451            $0               ($829)         ($1,655)         VT

 10075 CONSUMER SPECIALTIES INS CO RRG                  $2,284,211     $322,370      $342,338       $2,948,919      $3,450,961           ($14)             ($410)          ($256)          VT

 10341 CONTROLLED RISK INS CO OF VT RRG                $19,983,362    $8,300,167    $35,855,406    $64,138,935     $27,108,445            $0              ($1,191)        ($1,405)         VT

 10164 CPA MUTUAL INS CO OF AMERICA RRG                 $9,793,770    $1,519,091    $1,302,029     $12,614,890     $10,077,883            $3               ($785)         ($1,194)         VT

 11676 CRUDEN BAY RRG INC                               $7,899,415    $1,562,740     $225,570       $9,687,725      $2,155,034           $145             ($1,712)        ($2,513)         VT

 13655 CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP      $1,502,791    $1,887,680    $1,374,323      $4,764,794      $2,153,823            $0                 $0              $0            VT

 10115 EASTERN DENTISTS INS CO RRG                     $21,960,526    $4,031,239    $3,141,634     $29,133,399     $12,873,797            $0              ($3,388)        ($4,770)         VT

 38466 EVERGREEN USA RRG INC                            $7,181,775    $1,911,497     $779,030       $9,872,302      $5,859,937            $58             $1,209            $60            VT

 11278 FIRST MEDICAL INS CO RRG                        $43,566,754        $0         $101,085      $43,667,839     $54,869,227            $10             ($8,099)        ($13,745)        VT

 10842 FRANKLIN CASUALTY INS CO RRG                     $6,078,513        $0         $705,337       $6,783,850      $2,249,066          ($156)             ($458)          ($633)          VT

 12016 FREDERICKSBURG PROFESSIONAL RISK EXC             $8,521,909    $1,102,765     $56,116        $9,680,790     $19,103,545          ($103)            ($1,450)        ($2,109)         VT

 12000 GEISINGER INS CORP RRG                            $10,000          $0         $35,053         $45,053       $11,447,141            $0                $0               $0            VT

 10163 GENERAL EASTERN SKI INS RRG INC                  $764,046          $0         $252,410       $1,016,456      $2,093,988            $0                $42             $714           VT



The most current FSRs must be verified by visiting www.demotech.com.                                                                                           2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                  Risk Retention Groups - Liabilities by State
                                                          Losses and     Unearned         Other           Total       Policyholders'    Loss and LAE          1-Year          2-Year        State of
                                                         LAE Reserves    Premium        Liabilities     Liabilities      Surplus       Reserve Position    Loss and LAE    Loss and LAE     Domicile
                                                                         Reserves                                                      (000's omitted)     Development Development
                                                                                                                                                          (000's omitted) (000's omitted)

 11948 GLOBAL HAWK INSURANCE COMPANY RRG                  $1,938,517    $2,612,905     ($104,637)      $4,446,785      $3,813,215           $150              ($431)          ($465)          VT

 11941 GREEN HILLS INS CO RRG                             $6,994,937        $0         $612,689        $7,607,626     $10,899,222          ($481)            ($1,992)        ($1,773)         VT

 13057 HAMDEN ASSURANCE RRG, INC.                            $0             $0        $72,144,757     $72,144,757      $1,398,283            $0                 $0              $0            VT

 11998 HEARTLAND HEALTHCARE RECIP RRG                     $5,555,509    $1,592,455     $408,682        $7,556,646      $7,698,973           ($42)             ($999)         ($1,340)         VT

 26797 HOUSING AUTHORITY RRG INC                         $120,030,296   $15,367,683   $15,337,207     $150,735,186    $158,353,042        ($5,057)          ($27,172)        ($62,100)        VT

 11268 ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION    $62,761,021    $10,313,898   $17,746,348     $90,821,267     $207,998,752        ($6,606)          ($21,845)        ($39,565)        VT
       GROUP
 11692 INDIANA HEALTHCARE RECIP RRG                      $14,479,534    $2,945,761     $477,244       $17,902,539      $8,968,270           ($24)             ($896)         ($1,772)         VT

 11803 LAKE STREET RRG INC                                $877,532       $144,628       $56,269        $1,078,429      $1,706,815            $0               ($544)          ($516)          VT

 10697 MCIC VERMONT INC RRG                              $22,676,647    $21,542,000   $117,090,276    $161,308,923    $10,259,332           $291               ($1)            ($3)           VT

 44237 MENTAL HEALTH RISK RETENTION GROUP                 $9,866,176    $1,549,265     $587,569       $12,003,010     $10,065,983         ($1,193)           ($2,550)        ($4,935)         VT

 11999 MIDWEST INSURANCE GROUP, INC., A RISK RETENTION    $4,112,349    $1,091,869     $3,062,542      $8,266,760      $1,619,148            $84             ($1,554)        ($1,772)         VT
       GROUP
 13812 MOUNTAIN LAKE RISK RETENTION GROUP, INC.           $1,120,000     $254,794      $300,705        $1,675,499      $1,025,819            $0                 $0              $0            VT

 11547 MOUNTAIN LAUREL RRG INC                            $8,818,743        $0         $1,031,812      $9,850,555      $4,534,808           $369              ($748)          ($673)          VT

 10083 NATIONAL CATHOLIC RRG                             $41,114,561    $2,843,291     $3,935,955     $47,893,807     $15,877,815          $3,567             $266            ($812)          VT

 13059 NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY     $3,390,404    $1,404,556     $1,538,851      $6,333,811      $1,612,603            $2               $668             ($28)          VT
       RISK RETENTION GROUP
 13644 OASIS RECIPROCAL RISK RETENTION GROUP              $2,235,001     $281,846      $1,054,089      $3,570,936      $1,550,360           $309              ($93)             $0            VT

 10353 OOIDA RISK RETENTION GROUP INC                    $14,680,551    $3,993,016    $17,260,072     $35,933,639     $20,666,598         ($1,409)           ($5,040)        ($9,546)         VT

 44105 OPHTHALMIC MUTUAL INS CO RRG                      $56,414,533    $21,956,768    $9,898,410     $88,269,711     $137,374,377           $0              ($2,606)        ($14,806)        VT

 10171 ORDINARY MUTUAL A RRG CORP                        $15,901,750        $0         $150,042       $16,051,792     $11,015,360          $1,715            ($1,855)        ($2,991)         VT

 11575 PACE RRG INC                                      $10,780,689     $180,284      $5,450,163     $16,411,136      $1,561,006            $30             $1,942           $5,150          VT

 11846 PEACE CHURCH RRG INC                               $7,599,341    $1,513,105     $609,552        $9,721,998     $11,824,146           ($56)            ($1,676)        ($3,683)         VT

 11587 PELICAN INS RRG                                    $3,691,508    $1,895,846     $1,347,589      $6,934,943     $10,176,312           $189             ($1,443)         ($514)          VT

 12918 PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A         $2,412,552     $151,747      $116,245        $2,680,544      $1,228,026           $338              ($287)          ($423)          VT
       RISK RETENTION GROUP
 11514 PHYSICIANS PROFESSIONAL LIABILTY RRG              $16,495,464    $7,437,974     $1,521,835     $25,455,273     $17,140,121         ($2,068)           ($3,949)        ($7,760)         VT

 10934 PHYSICIANS REIMBURSEMENT RRG                      $15,205,517    $1,494,863     $111,850       $16,812,230      $9,946,326           $298             ($1,816)        ($2,856)         VT

 12348 PINE TREE INS RECIPROCAL RRG                       $6,004,398    $1,380,074     $1,941,866      $9,326,338      $5,487,282           $104              $895            $2,551          VT

 11980 PINNACLE CONSORTIUM OF HIGHER ED RRG               $1,750,170        $0          $80,051        $1,830,221      $3,834,500            $62              $166             $29            VT

 12608 PROFESSIONAL QUALITY LIABILITY INSURANCE            $65,499       $11,436       $492,370        $569,305        $1,206,075            $8                ($4)            ($21)          VT
       COMPANY, A RISK RETENTION GROUP
 11350 PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A         $1,252,969     $454,928       $43,820        $1,751,717      $3,580,637            $0                $23            ($549)          VT
       RISK RETENTION GROUP)


The most current FSRs must be verified by visiting www.demotech.com.                                                                                              2nd Quarter 2011 - RRG Analysis
 NAIC   Company Name
                                                     Risk Retention Groups - Liabilities by State
                                                                 Losses and       Unearned          Other            Total        Policyholders'    Loss and LAE          1-Year          2-Year            State of
                                                                LAE Reserves      Premium         Liabilities      Liabilities       Surplus       Reserve Position    Loss and LAE    Loss and LAE         Domicile
                                                                                  Reserves                                                         (000's omitted)     Development Development
                                                                                                                                                                      (000's omitted) (000's omitted)

 11808 SCHUYKILL CROSSING RECIPROCAL RRG                        $16,631,363       $2,301,936     $2,042,236      $20,975,535       $5,137,457          ($283)             ($405)           $44                VT

 11267 SECURITY AMERICA RRG INC                                  $932,550          $739,102       $279,644        $1,951,296       $2,727,160           $121               $87            ($459)              VT

 11688 ST LUKES HEALTH NETWORK INS CO RRG                       $28,341,587       $3,620,228      $66,498        $32,028,313      $12,084,908         ($2,836)           ($1,872)        ($1,437)             VT

 44075 STATES SELF-INSURERS RRG                                 $10,046,148        $404,489      $2,189,409      $12,640,046       $8,657,121            $0                 $0           ($1,246)             VT

 10476 STICO MUT INS CO RRG                                      $3,648,365       $5,496,997      $298,208        $9,443,570      $10,301,671          ($585)             ($386)          ($620)              VT

 10113 TERRA INS CO RRG                                          $5,003,817       $3,298,622     $5,094,940      $13,397,379      $17,659,926           $514             $2,487           $3,240              VT

 10152 THE HEALTHCARE UNDERWRITING CO RRG                       $29,525,833       $7,851,751     $4,852,413      $42,229,997      $27,676,045          $4,127             ($298)         ($1,835)             VT

 10084 TITLE INDUSTRY ASSURANCE CO RRG                           $4,264,165        $369,120      $1,322,478       $5,955,763       $1,996,346           $663               $52            ($499)              VT

 11548 UNITED CENTRAL PA RRG                                     $5,664,272       $1,909,698      $429,415        $8,003,385      $14,627,180           ($20)            ($1,145)         ($943)              VT

 10020 UNITED EDUCATORS INS RRG INC                            $319,079,010      $26,509,932    $46,956,202     $392,545,144     $237,513,979          $9,146            $1,490            $891               VT

 10712 UNITED HOME INSURANCE CO A RRG                                $0           $3,000,217      $160,982        $3,161,199       $2,233,526            $0                 $0              $0                VT

 11802 WARREN RRG INC                                            $4,236,805        $658,067       $73,827         $4,968,699       $2,751,347           $247              ($857)         ($2,885)             VT

 11682 WELLSPAN RRG                                             $16,171,761       $3,138,998      $73,800        $19,384,559       $5,679,883            $0              ($2,540)        ($3,237)             VT

 13154 WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION             $216,644          $231,564       $37,833         $486,041         $2,328,988            $0                 $0              $0                VT
       GROUP
 11796 YELLOWSTONE INSURANCE EXCHANGE (A RISK                    $6,603,411       $2,019,599     $6,679,042      $15,302,052       $5,570,566          ($643)             ($904)         ($1,605)             VT
       RETENTION GROUP)
                                  Sub-total Vermont           $1,424,221,295     $247,611,945   $542,307,094    $2,214,140,334   $1,592,536,453       ($22,585)        ($119,565)       ($227,953)      x

                                                                                                West Virginia
 12779 MOUNTAINEER FREEDOM RISK RETENTION GROUP,                $12,786,016       $3,241,107      $962,221       $16,989,344       $9,002,310           ($37)            ($1,811)        ($1,846)             WV
       INC.
                                Sub-total West Virginia         $12,786,016       $3,241,107     $962,221        $16,989,344      $9,002,310            ($37)            ($1,811)        ($1,846)       x

                              Total - All Risk Retention Groups $2,930,125,411   $628,259,362   $952,486,199    $4,510,870,972   $2,993,904,913       ($16,150)          ($6,722)       ($164,252)




The most current FSRs must be verified by visiting www.demotech.com.                                                                                                          2nd Quarter 2011 - RRG Analysis
                             Risk Retention Groups - Ratios by State
   NAIC    Company Name                                                              Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                          Assets /        Reserves /     Policyholders      Written /
                                                                                       Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                         Reserves           Surplus                          Surplus

                                                                   Alabama
   11668   COASTAL INS RRG INC                                                             2.23              0.99            1.52             0.26

                                                              Sub-total Alabama            2.23              0.99             1.52            0.26
                                                                    Arizona
   12166   ADVANCED PHYSICIANS INS RRG INC                                                 0.00              0.00            0.13             0.25

   11710   ALLIED PROFESSIONALS INSURANCE COMPANY, RRG                                     3.15              0.67            1.29             0.71

   10232   AMERICAN ASSOC OF OTHODONTISTS RRG                                              1.60              2.28            2.76             0.27

   11598   APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.                                        1.45              1.81            2.62             0.67

   11976   CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.                                1.83              0.99            1.34             0.27

   12167   CHARITABLE SERVICE PROVIDERS RECIPROCAL RRG                                     6.66              0.20            0.40             0.38

   10125   ELITE TRANSPORTATION RRG INC                                                    2.12              2.88            6.70             1.95

   12625   FORT WAYNE MEDICAL SURETY COMPANY, RRG                                          3.81              0.45            1.27             0.69

   12576   MEDICAL INSURANCE UNDERWRITERS RISK RETENTION GROUP                             0.00              0.00            0.36             0.33

   12147   MIDWEST PROVIDER INSURANCE COMPANY, RRG                                         8.64              0.54            4.49             0.09

   13062   OLYMPIA RISK RETENTION GROUP, INC.                                              1.00              1.63            2.39             1.24

   12183   ORANGE COUNTY MEDICAL RECIP INS RRG                                             2.05              0.73            0.89             0.32

   12995   PHP RISK RETENTION GROUP, LIMITED                                               1.17              3.27            3.42             0.00

   13736   RED ROCK RISK RETENTION GROUP, INC.                                             1.97              0.96            1.49             0.97

   12209   RESTORATION RISK RETENTION GROUP, INC.                                          1.92              1.41            2.05             0.51

   11978   WESTERN INS RRG INC                                                             0.00              0.00            0.05             0.03

                                                               Sub-total Arizona           1.83              1.39             2.08            0.59
                                                                  Colorado
   44016   NATIONAL HOME INSURANCE CO RRG                                                  9.08              0.32            2.18             0.00

   40940   WESTERN PACIFIC MUT INS CO RRG                                                  5.40              0.28            0.57             0.02

                                                              Sub-total Colorado           6.08              0.29             0.84            0.01
                                                              District of Columbia
   12252   AEGIS HEALTHCARE RRG, INC.                                                      1.23              1.12            1.87             1.20

   33677   ATTORNEYS INS MUTUAL OF ALABAMA INC                                             2.80              0.68            0.95             0.16

   13795   ATTPRO RRG RECIPROCAL RISK RETENTION GROUP                                     263.50             0.00            0.04             0.00

   11825   CARE RRG INC                                                                    1.89              1.03            1.51             0.09

   12373   CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP                           5.93              0.21            1.26             0.16

   13756   CMIC RISK RETENTION GROUP                                                      889.52             0.00            0.14             0.13

   11842   DUBOIS MEDICAL RRG                                                              2.98              0.53            0.59             0.00

   11840   FAIRWAY PHYSICIANS INS CO RRG                                                   1.29              2.07            3.65             1.35

   10991   GLOBAL INTL INS CO INC A RRG                                                    0.00              0.00            0.02             0.02

   12236   HEALTH CARE CAS RRG INC                                                         0.53             17.74            24.95            1.03

   11813   HEALTH NETWORK PROVIDERS MUT INS CO                                             2.20              1.26            2.00             0.19

   11832   HEALTHCARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG                 0.16             12.91            17.60            0.21
           (HEALTHCAP RRG)

   11824   INTERMODAL INSURANCE COMPANY, RRG                                               0.34              1.25            1.74             0.42

   11958   LIFE SERVICES NETWORK RECIP INS RRG                                             5.06              0.26            0.42             0.27

   13589   MEDPRO RRG RISK RETENTION GROUP                                                 0.60              2.59            5.15             0.07

   10124   MEDSTAR LIABILITY LTD INS CO INC RRG                                            0.92              3.89            5.34             0.96

   11806   NATIONAL ASSISTED LIVING RRG INC                                                2.36              0.97            1.47             0.38

   10234   NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)                              617.80             0.00            0.63             0.03

   13792   NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP                     82.73             0.02            0.81             0.18

The most current FSRs must be verified by visiting www.demotech.com.                                                2nd Quarter 2011 - RRG Analysis
                              Risk Retention Groups - Ratios by State
   NAIC    Company Name                                                               Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                           Assets /        Reserves /     Policyholders      Written /
                                                                                        Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                          Reserves           Surplus                          Surplus

   12275   NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG                                 1.04              2.54            2.99             0.61

   10158   OCEAN RRG INC                                                                    0.79             10.63            14.28            3.33

   11973   PCH MUTUAL INSURANCE COMPANY, RRG                                                1.52              1.87            2.19             0.37

   11772   PEDIATRICANS INS RRG OF AMER                                                     1.72              1.06            1.33             -0.04

   12198   PINELANDS INS CO RRG INC                                                         -0.01             3.04            4.77             0.59

   11858   PINNACLE RRG INC                                                                 23.91             0.04            0.08             0.01

   11671   PROBUILDERS SPECIALTY INS CO RRG                                                 0.12              9.30            9.60             0.00

   12010   REGIONAL HEALTH INS CO RRG                                                       0.45              3.87            5.25             0.00

   12524   SCAFFOLD INDUSTRY INSURANCE COMPANY RISK RETENTION GROUP, INC.                   0.12              7.84            8.95             0.01

   13571   SELECT PROVIDERS INSURANCE RECIPROCAL EXCHANGE A RRG                             1.00              7.36            21.10            1.09

   13557   SIGMA RRG, INC.                                                                  1.80              1.10            1.42             0.00

   10754   SPIRIT MOUNTAIN INS CO RRG INC                                                   2.94              0.62            0.92             0.42

   13786   VIRGINIA SENIOR CARE RISK RETENTION GROUP                                        4.96              0.23            0.35             0.00

                                                     Sub-total District of Columbia         0.68              2.41             3.37            0.21
                                                                      Delaware
   43125   DELAWARE PROFESSIONAL INSURANCE CO                                               1.58              1.86            2.07             0.00

   12018   INDEMNITY INSURANCE CORPORATION, RRG                                             1.14              0.83            1.58             0.64

   12554   MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP                      1.72              0.91            2.10             0.87

   11117   MARATHON FIN INS CO INC RRG                                                      38.47             0.05            5.25             3.08

   14026   SUNLAND RISK RETENTION GROUP, INC.                                               11.26             0.13            2.63             0.38

   12280   UNITED CONTRACTORS INS CO INC RRG                                                1.76              0.97            1.13             0.17

                                                               Sub-total Delaware           1.62              0.91             1.73            0.56
                                                                      Florida
   11809   PONCE DE LEON LTC RRG, INC.                                                      2.54              0.73            1.11             0.21

                                                                  Sub-total Florida         2.54              0.73             1.11            0.21
                                                                     Georgia
   11065   CHATTAHOCHEE RRG CAPTIVE INS CO                                                  1.97              1.24            1.75             0.81

   12159   JOLIET AREA RRG CAPTIVE INS CO                                                   1.73              2.15            3.14             0.86

                                                                Sub-total Georgia           1.81              1.73             2.50            0.84
                                                                     Hawaii
   11965   ALLEGIANT INS CO INC A RRG                                                       1.80              1.34            1.69             0.15

   22670   ATTORNEYS INSURANCE MUTUAL RRG INC                                               2.06              0.90            0.99             0.00

   44504   CALIFORNIA HEALTHCARE INS CO INC RRG                                             1.71              1.35            1.75             0.22

   43770   CLINIC MUTUAL INSURANCE CO RRG                                                   99.39             0.01            0.02             0.01

   44598   COLLEGE LIABILITY INS CO A RECIP RRG                                             3.61              0.29            0.30             0.00

   11603   CONTRACTORS INS CO OF NORTH AMER RRG                                             2.55              0.60            0.66             0.04

   13782   GERIC INSURANCE RISK RETENTION GROUP, INC.                                       0.00              0.00            0.00             0.00

   10080   HEALTH PROVIDERS INS RECIPROCAL RRG                                              2.59              0.64            0.80             0.21

   26257   MEDAMERICA MUTUAL RRG INC                                                        2.28              1.07            1.85             0.59

   36072   NATIONAL GUARDIAN RRG INC                                                        1.16              2.16            2.64             0.50

   13582   PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP                         2.31              1.43            2.29             1.47

   10840   PROFESSIONAL MEDICAL INS RRG INC                                                 0.00              0.00            0.03             0.00

   10691   RESIDENTIAL INS CO INC A RRG                                                     6.30              0.41            1.90             0.00

   12005   SENTINEL ASSUR RRG INC                                                           3.33              0.41            0.70             0.36

   13988   UV INSURANCE RISK RETENTION GROUP, INC.                                          5.50              0.18            0.76             0.99

                                                                  Sub-total Hawaii          2.17              0.87             1.18            0.25

The most current FSRs must be verified by visiting www.demotech.com.                                                 2nd Quarter 2011 - RRG Analysis
                              Risk Retention Groups - Ratios by State
   NAIC    Company Name                                                              Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                          Assets /        Reserves /     Policyholders      Written /
                                                                                       Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                         Reserves           Surplus                          Surplus

                                                                     Iowa
   44202   AMERICAN FEED INDUSTRY INS CO RRG                                               2.45              0.70            0.73             0.00

                                                                  Sub-total Iowa           2.45              0.70             0.73            0.00
                                                                    Illinois
   44121   OMS NATL INS CO RRG                                                             1.90              1.14            1.46             0.19

                                                                Sub-total Illinois         1.90              1.14             1.46            0.19
                                                                   Indiana
   28380   AGRI INSURANCE EXCHANGE RRG                                                     7.77              0.16            0.23             0.08

   13893   COMMUNITY BLOOD CENTERS EXCH RRG                                                2.75              0.74            1.21             0.15

                                                               Sub-total Indiana           3.63              0.45             0.72            0.11
                                                                  Kentucky
   13580   ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP              9.72              0.06            0.38             0.26

   13018   DOCTORS & SURGEONS NATIONAL RRG                                                 2.40              0.88            1.66             0.84

   11872   KENTUCKIANA MEDICAL RECIPROCAL RRG                                              1.69              1.39            1.64             0.40

   11939   KENTUCKY HOSPITAL INS CO RRG                                                    2.44              0.79            1.16             0.26

                                                             Sub-total Kentucky            1.92              1.10             1.43            0.38
                                                                   Missouri
   44083   PREFERRED PHYSICIANS MEDICAL RRG                                                2.54              0.93            1.42             0.18

                                                              Sub-total Missouri           2.54              0.93             1.42            0.18
                                                                  Montana
   12631   AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.                                   0.27              0.16            0.56             0.05

   11534   AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG                     1.93              1.35            1.88             0.04

   14005   ARTISAN CONTRACTORS INSURANCE COMPANY RISK RETENTION GROUP, LLC                312.56             0.00            0.12             0.06

   32450   ATTORNEYS LIAB PROTECTION SOC RRG                                               1.89              1.32            1.83             0.46

   13784   CATTLEMAN'S INSURANCE COMPANY, A RISK RETENTION GROUP                           33.28             0.03            0.11             0.16

   13720   CROSSFIT RISK RETENTION GROUP, INC.                                             13.86             0.11            0.88             0.78

   11696   GUARDIAN RRG INC                                                                2.72              0.49            0.70             0.33

   12355   MD RISK RETENTION GROUP, INC.                                                   1.72              1.20            1.24             0.28

   11585   MOUNTAIN STATES HEALTHCARE RECIP RRG                                            1.94              1.42            1.85             0.62

   12293   NATIONAL CONTRACTORS INS CO INC RRG                                             0.43              2.90            3.55             0.16

   12845   OBSTETRICIANS & GYNECOLOGISTS RISK RETENTION GROUP OF AMERICA, INC.             1.38              2.62            3.53             0.44

   13046   PHYSICIANS RISK RETENTION GROUP LLC                                             1.69              1.24            1.87             0.97

   12497   PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC                                1.45              1.99            5.09             0.09

   13067   PROFESSIONALS RISK RETENTION GROUP, INC.                                        4.45              0.40            2.58             0.25

   13974   VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.                                  50.18             0.04            1.86             0.50

                                                             Sub-total Montana             1.76              1.40             2.09            0.44
                                                                  Nebraska
   11500   LENDERS PROTECTION ASSUR CO RRG                                                 0.00              0.00            0.05             0.00

                                                             Sub-total Nebraska          #Div/0!             0.00             0.05            0.00
                                                                   Nevada
   13606   AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP                      1.71              0.87            1.23             0.62

   13177   ARCOA RISK RETENTION GROUP, INC.                                                1.41              1.88            1.99             0.91

   13010   BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP                       94.24             0.02            1.15             0.32

   12003   EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)                   1.40              1.29            1.74             0.54

   11714   EMERGENCY PHYSICIANS INS CO RRG                                                 1.54              3.08            4.51             0.99

   11145   GOLDEN INS CO RRG                                                               7.34              0.23            1.34             0.24

   13973   GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.              2.76              0.01            0.27             0.12

   11950   HOME CONSTRUCTION INS CO RRG                                                    1.94              1.58            2.21             -0.03

The most current FSRs must be verified by visiting www.demotech.com.                                                2nd Quarter 2011 - RRG Analysis
                              Risk Retention Groups - Ratios by State
   NAIC    Company Name                                                              Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                          Assets /        Reserves /     Policyholders      Written /
                                                                                       Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                         Reserves           Surplus                          Surplus

   12594   J.M. WOODWORTH RRG, INC.                                                        1.63              1.01            2.24             0.51

   13014   LANCET INDEMNITY RISK RETENTION GROUP, INC.                                     1.87              1.12            2.38             1.18

   11947   LEWIS & CLARK LTC RRG, INC                                                      1.21              4.29            7.73             2.10

   14084   LIVESTOCK MARKET ENHANCEMENT RISK RETENTION GROUP                               0.00              0.00            0.00             0.00

   12235   NATIONAL BUILDERS & CONTRACTORS INS                                             1.35              1.95            2.26             0.22

   12539   NEVADA DOCS MEDICAL RISK RETENTION GROUP, INC.                                  1.62              1.99            2.57             0.25

   13810   PHYSICIANS BENEFIT RESOURCES RISK RETENTION GROUP, INC.                         83.53             0.02            0.58             0.36

   13995   PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.                                  17.74             0.12            3.07             0.59

   13179   PROAIR RISK RETENTION GROUP, INC.                                               2.09              0.12            0.58             0.22

   12988   SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP                            2.39              1.07            1.79             0.86

   13993   STATE CAPITOL INSURANCE RISK RETENTION GROUP, INC.                              0.00              0.00            0.09             0.07

   12915   URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP                              3.76              0.42            1.11             0.22

                                                                  Sub-total Nevada         1.66              1.62             2.66            0.71
                                                                     Oklahoma
   11063   VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP                       9.90              0.13            0.36             0.07

                                                                Sub-total Oklahoma         9.90              0.13             0.36            0.07
                                                                   South Carolina
   12013   ALLIED SERVICES RISK RETENTION GROUP                                            2.05              0.99            1.02             0.00

   11590   AMERICAN FOREST CAS CO RRG                                                      1.82              1.16            1.36             0.20

   12224   ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.                            -34.95             -0.03           0.21             0.03

   11544   CAREGIVERS UNITED LIAB INS CO RRG                                               2.25              0.77            0.96             0.27

   11694   CENTRAL PA PHYSICIANS RRG INC                                                   1.75              1.81            2.33             0.80

   11992   CLARIAN HLTH RRG INC                                                            0.00              0.00            8.52             0.00

   11807   COMMUNITIES OF FAITH RRG INC                                                    9.46              0.12            0.20             0.13

   11798   CONTINUING CARE RRG, INC.                                                       1.75              0.67            1.04             1.28

   12015   EMERGENCY MEDICINE RRG INC                                                      4.14              0.24            0.46             0.01

   11698   FAITH AFFILIATED RRG INC                                                        3.53              0.39            0.43             0.03

   11801   FIRST KEYSTONE RISK RETENTION GROUP, INC.                                       1.01              2.52            4.01             1.23

   12512   GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.                             2.03              0.99            1.36             0.60

   11581   GRACO RRG INC                                                                   0.00              0.00            1.77             0.16

   12014   GUTHRIE RRG                                                                     1.43              2.25            2.26             0.00

   11683   HEALTHCARE PROVIDERS INS CO RRG                                                 3.32              0.51            0.74             0.08

   11097   HERITAGE WARRANTY INS RRG INC                                                   18.28             0.07            1.27             0.00

   11589   JAMESTOWN INS CO RRG                                                            0.90              2.28            3.35             1.00

   11684   LVHN RRG                                                                        0.00              0.00            6.51             -0.13

   11197   NATIONAL INDEPENDENT TRUCKERS IC RRG                                            2.51              0.37            0.68             0.12

   12529   NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.                        0.00              0.00            1.02             0.07

   12532   NEW STAR RISK RETENTION GROUP, INC.                                             3.83              0.49            0.93             -0.01

   10752   NOVUS INS CO RRG                                                                0.87             27.92            34.11            1.95

   12189   OCEANUS INS CO A RRG                                                            1.82              1.97            3.44             0.86

   12004   PHOEBE RECIPROCAL RRG                                                           3.66              0.40            0.47             0.14

   12507   PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP                      2.14              1.53            3.57             0.76

   11513   PHYSICIANS SPECIALTY LTD RRG                                                    2.96              0.63            0.95             0.13

   13078   RED CLAY RISK RETENTION GROUP, INC.                                             1.78              0.60            0.93             0.67


The most current FSRs must be verified by visiting www.demotech.com.                                                 2nd Quarter 2011 - RRG Analysis
                             Risk Retention Groups - Ratios by State
   NAIC    Company Name                                                                Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                            Assets /        Reserves /     Policyholders      Written /
                                                                                         Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                           Reserves           Surplus                          Surplus

   11712   SAINT LUKE'S HLTH SYSTEM RRG                                                      3.40              0.43            0.56             0.02

   12511   SAMARITAN RISK RETENTION GROUP, INC.                                              2.81              0.60            1.11             0.54

   12907   SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.                                   1.72              2.99            4.97             1.49

   11114   ST CHARLES INS CO RRG                                                             2.19              0.95            1.13             0.07

   13135   SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC                            0.00              0.00            0.36             0.00

   11669   SUPERIOR INS CO RRG                                                               0.84              2.45            3.18             0.27

   11153   TITAN INS CO INC RRG                                                              0.00              0.00            0.27             0.06

                                                           Sub-total South Carolina          2.28              0.99             1.70            0.32
                                                                      Tennessee
   44130   PARATRANSIT INSURANCE COMPANY, RRG                                                1.89              1.22            1.48             0.14

                                                               Sub-total Tennessee           1.89              1.22             1.48            0.14
                                                                       Texas
   12300   AMERICAN CONTRACTORS INS CO RRG                                                   0.00              0.00            2.30             0.00

                                                                     Sub-total Texas       #Div/0!             0.00             2.30            0.00
                                                                        Utah
   12627   LIBERTY FIRST RISK RETENTION GROUP INSURANCE COMPANY                              1.01              2.17            2.24             0.68

                                                                     Sub-total Utah          1.01              2.17             2.24            0.68
                                                                       Virginia
   41246   HOW INSURANCE COMPANY, A RISK RETENTION GROUP                                     89.14             0.01            0.12             0.00

                                                                 Sub-total Virginia         89.14              0.01             0.12            0.00
                                                                     Vermont
   12934   ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION                  53.51             0.03            1.11             0.44
           GROUP

   12557   ACBG RISK RETENTION GROUP, LLC                                                    3.57              0.33            1.00             0.81

   13677   AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP                           9.90              0.13            0.50             0.15

   10023   ALLIANCE OF NONPROFITS FOR INS RRG                                                2.35              0.69            0.95             0.22

   10903   AMERICAN EXCESS INS EXCHANGE RRG                                                  2.65              0.71            0.91             0.12

   25448   AMERICAN SAFETY RRG INC                                                           1.55              1.05            1.75             0.15

   12171   AMERIGUARD RRG INC                                                                2.47              0.78            1.01             0.13

   10639   ATTORNEYS LIAB ASSUR SOCIETY INC RRG                                              2.25              0.86            2.31             0.43

   10174   BAR VERMONT RISK RETENTION GROUP INC                                              3.76              0.32            0.49             0.00

   12933   BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.                                     1.37              2.62            4.86             1.29

   13788   BROADLINE RISK RETENTION GROUP, INC.                                              1.11              2.36            2.36             0.00

   10808   CASSATT RISK RETENTION GROUP INC                                                  11.04             0.10            0.17             0.00

   11531   CHC CAS RRG                                                                       1.36              2.88            3.55             1.11

   12308   CIMARRON INSURANCE EXCHANGE RRG                                                   1.11              1.77            2.63             0.77

   11839   CIRCLE STAR INS CO RRG                                                            11.81             0.10            2.48             0.21

   12172   CLAIM PROFESSIONALS LIAB INS CO RRG                                               3.05              0.43            1.34             0.20

   13613   COLLEGE RISK RETENTION GROUP, INC.                                                2.01              1.19            1.44             0.00

   10803   COLUMBIA NATIONAL RRG INC                                                         0.00              0.00            0.66             0.04

   11864   COMCARE PRO INS RECIPROCAL RRG                                                    5.84              0.21            0.29             0.13

   11536   COMMUNITY HEALTH ALLIANCE RECIP RRG                                               2.01              4.03            7.88             1.19

   11528   CONSORTIUM RRG                                                                    6.96              0.17            0.18             0.00

   10075   CONSUMER SPECIALTIES INS CO RRG                                                   2.56              0.66            0.85             0.08

   10341   CONTROLLED RISK INS CO OF VT RRG                                                  2.59              0.74            2.37             0.61

   10164   CPA MUTUAL INS CO OF AMERICA RRG                                                  1.78              0.97            1.25             0.17

   11676   CRUDEN BAY RRG INC                                                                1.28              3.67            4.50             1.44

The most current FSRs must be verified by visiting www.demotech.com.                                                  2nd Quarter 2011 - RRG Analysis
                              Risk Retention Groups - Ratios by State
   NAIC    Company Name                                                          Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                      Assets /        Reserves /     Policyholders      Written /
                                                                                   Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                     Reserves           Surplus                          Surplus

   13655   CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP                                 2.31              0.70            2.21             1.42

   10115   EASTERN DENTISTS INS CO RRG                                                 1.70              1.71            2.26             0.22

   38466   EVERGREEN USA RRG INC                                                       1.54              1.23            1.68             0.35

   11278   FIRST MEDICAL INS CO RRG                                                    2.24              0.79            0.80             0.00

   10842   FRANKLIN CASUALTY INS CO RRG                                                0.86              2.70            3.02             0.00

   12016   FREDERICKSBURG PROFESSIONAL RISK EXC                                        2.59              0.45            0.51             0.12

   12000   GEISINGER INS CORP RRG                                                     149.22             0.00            0.00             0.00

   10163   GENERAL EASTERN SKI INS RRG INC                                             1.82              0.36            0.49             0.00

   11948   GLOBAL HAWK INSURANCE COMPANY RRG                                           3.44              0.51            1.17             0.59

   11941   GREEN HILLS INS CO RRG                                                      2.64              0.64            0.70             0.00

   13057   HAMDEN ASSURANCE RRG, INC.                                                  0.00              0.00            51.60            0.00

   11998   HEARTLAND HEALTHCARE RECIP RRG                                              2.65              0.72            0.98             0.41

   26797   HOUSING AUTHORITY RRG INC                                                   2.46              0.76            0.95             0.09

   11268   ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP                        4.31              0.30            0.44             0.05

   11692   INDIANA HEALTHCARE RECIP RRG                                                1.81              1.61            2.00             0.66

   11803   LAKE STREET RRG INC                                                         3.00              0.51            0.63             0.17

   10697   MCIC VERMONT INC RRG                                                        1.34              2.21            15.72            4.51

   44237   MENTAL HEALTH RISK RETENTION GROUP                                          2.07              0.98            1.19             0.22

   11999   MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP                       1.48              2.54            5.11             0.92

   13812   MOUNTAIN LAKE RISK RETENTION GROUP, INC.                                    0.92              1.09            1.63             0.00

   11547   MOUNTAIN LAUREL RRG INC                                                     1.02              1.94            2.17             0.01

   10083   NATIONAL CATHOLIC RRG                                                       1.42              2.59            3.02             0.15

   13059   NORTH SHORE - LIJ PHYSICIANS INSURANCE COMPANY RISK RETENTION GROUP         2.13              2.10            3.93             1.01

   13644   OASIS RECIPROCAL RISK RETENTION GROUP                                       1.51              1.44            2.30             -0.01

   10353   OOIDA RISK RETENTION GROUP INC                                              2.71              0.71            1.74             0.18

   44105   OPHTHALMIC MUTUAL INS CO RRG                                                3.80              0.41            0.64             0.12

   10171   ORDINARY MUTUAL A RRG CORP                                                  1.67              1.44            1.46             0.00

   11575   PACE RRG INC                                                                0.52              6.91            10.51            0.12

   11846   PEACE CHURCH RRG INC                                                        2.58              0.64            0.82             0.25

   11587   PELICAN INS RRG                                                             4.58              0.36            0.68             0.27

   12918   PHYSICIANS' INSURANCE EXCHANGE RESOURCE, A RISK RETENTION GROUP             1.53              1.96            2.18             -0.02

   11514   PHYSICIANS PROFESSIONAL LIABILTY RRG                                        2.35              0.96            1.49             0.22

   10934   PHYSICIANS REIMBURSEMENT RRG                                                1.63              1.53            1.69             0.30

   12348   PINE TREE INS RECIPROCAL RRG                                                2.21              1.09            1.70             0.50

   11980   PINNACLE CONSORTIUM OF HIGHER ED RRG                                        2.71              0.46            0.48             0.00

   12608   PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION          25.78             0.05            0.47             0.12
           GROUP

   11350   PUBLIC UTILITY MUTUAL INSURANCE COMPANY (A RISK RETENTION GROUP)            4.10              0.35            0.49             0.25

   11808   SCHUYKILL CROSSING RECIPROCAL RRG                                           1.37              3.24            4.08             -0.06

   11267   SECURITY AMERICA RRG INC                                                    3.77              0.34            0.72             0.34

   11688   ST LUKES HEALTH NETWORK INS CO RRG                                          1.40              2.35            2.65             0.13

   44075   STATES SELF-INSURERS RRG                                                    2.09              1.16            1.46             0.05

   10476   STICO MUT INS CO RRG                                                        4.64              0.35            0.92             0.16

   10113   TERRA INS CO RRG                                                            4.82              0.28            0.76             0.37

The most current FSRs must be verified by visiting www.demotech.com.                                            2nd Quarter 2011 - RRG Analysis
                            Risk Retention Groups - Ratios by State
   NAIC    Company Name                                                             Cash and Invested   Loss and LAE     Liabilities /   Net Premium
                                                                                         Assets /        Reserves /     Policyholders      Written /
                                                                                      Loss and LAE      Policyholders      Surplus       Policyholders
                                                                                        Reserves           Surplus                          Surplus

   10152   THE HEALTHCARE UNDERWRITING CO RRG                                             0.80              1.07            1.53             0.32

   10084   TITLE INDUSTRY ASSURANCE CO RRG                                                1.24              2.14            2.98             0.20

   11548   UNITED CENTRAL PA RRG                                                          3.62              0.39            0.55             0.26

   10020   UNITED EDUCATORS INS RRG INC                                                   1.86              1.34            1.65             0.09

   10712   UNITED HOME INSURANCE CO A RRG                                                 0.00              0.00            1.42             0.00

   11802   WARREN RRG INC                                                                 1.72              1.54            1.81             0.37

   11682   WELLSPAN RRG                                                                   0.97              2.85            3.41             1.11

   13154   WINTHROP PHYSICIANS RECIPROCAL RISK RETENTION GROUP                            12.20             0.09            0.21             0.17

   11796   YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)                        2.34              1.19            2.75             0.70

                                                             Sub-total Vermont            2.19              0.89             1.39            0.20
                                                               West Virginia
   12779   MOUNTAINEER FREEDOM RISK RETENTION GROUP, INC.                                 1.87              1.42            1.89             0.71

                                                         Sub-total West Virginia          1.87              1.42             1.89            0.71
                                                Total - All Risk Retention Groups         2.03              0.98            1.51             0.23




The most current FSRs must be verified by visiting www.demotech.com.                                               2nd Quarter 2011 - RRG Analysis
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                  Financial stability is independent of size.
Financial Stability Ratings® (FSRs) are a leading indicator of the financial stability of Property and Casualty (P&C) insurers and Title underwriters. An FSR
summarizes our opinion as to the insurer’s ability to insulate itself from the business cycle that exists in the general economy as well as the underwriting cycle
that exists in the insurance industry. Thus, an FSR summarizes our opinion as to the relative ability of an insurer to survive a downturn in general economic
conditions as well as a downturn in the underwriting cycle.

FSRs are not an endorsement of any particular insurer or its products. Insureds and agents need to independently evaluate their relationship with a particular
insurer as well as the applicability of that insurer’s products to the needs of the insured or agent. FSRs present our opinion of the ability of the insurer to meet
its insurance related obligations based upon our assessment of financial information.

Our focus is unique. While we acknowledge and recognize the importance of profitability, we believe that balance sheet strength and financial integrity are
the ultimate determinants of the long term financial stability required to honor meritorious claims. Accordingly, while operating profit remains an important
element in the assignment of FSRs, the ability of an insurer to remain financially stable under a variety of economic stress tests requires a focus on balance
sheet integrity. Quality and quantity of reinsurance, relative adequacy of loss and loss adjustment expense reserves, the liquidity and quality of assets and rate
adequacy are some of the more critical items we evaluate.

Our rating process provides an objective baseline for assessing solvency based upon changes in financial stability, as manifested in an insurer’s balance sheet.
FSRs are based upon a series of quantitative ratios and considerations that comprise our Financial Stability Analysis Model.

The Financial Stability Analysis Model is the major component of the FSR assignment process and can be applied to statutory insurance accounting data or data
compiled under Generally Accepted Accounting Principles (GAAP). The Financial Stability Analysis Model includes a tactile review as well as computation and
analysis of critical financial ratios to determine the current and anticipated financial stability of the insurance company being reviewed. The Financial Stability
Analysis Model cross checks and analyzes financial statement calculations and relationships.

A critical item to determine the financial stability of a P&C insurer is the calculation of financial stability ratios measured against our financial stability benchmarks.
These ratios and benchmarks have been compiled on an industry-wide basis and have been substantiated by third parties.

Since our incorporation in 1985, Demotech has proactively responded to the challenges faced by the insurance industry. In 1989, Demotech gained acceptance
from the Federal National Mortgage Association (Fannie Mae) for FSRs of A or better. In 1990, we received similar accreditation from Federal Home Loan
Mortgage Corporation (Freddie Mac). In 1993, the United States Department of Housing and Urban Development (HUD) published its acceptance of FSRs of A
or better. The acceptance of FSRs of A or better leveled the playing field for regional P&C insurance companies while simultaneously assisting insurance agents,
reinsurers and insurance carriers through the elimination of reinsurance endorsements and cut-through endorsements.

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.



                             Solutions as Unique as Your Organization
Demotech is committed to serving its clients while maintaining the highest standards. Innovative thinking,
strategic analysis, commitment, insight and on-going involvement with the insurance industry allow us to
provide solutions as unique as your organization.
We encourage you to contact us with any current needs or problems you are experiencing. We are confident
we can provide a solution.
Contact Douglas Powell at dpowell@demotech.com to discuss any needs or problems your organization
is experiencing.




                                                                                                                                                                        ®     ®
    Demotech, Inc.
 2715 Tuller Parkway
Dublin, OH 43017-2310
 www.demotech.com




                        ®

				
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