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Statistical Compilation of Annual Statement Information

for Property/Casualty

Insurance Companies in 2005

2007

National Association

of Insurance Commissioners

© 1992-2007 National Association of Insurance Commissioners All rights reserved.

ISBN 978-1-59917-102-9

National Association of Insurance Commissioners Insurance Products & Services Division

816-783-8300 Fax 816-460-7593

www.naic.org/insprod [email protected]

Printed in the United States of America

No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any storage or retrieval system, without written permission from the NAIC.

Executive Headquarters Securities Valuation Office Government Relations 2301 McGee Street, Suite 800 48 Wall Street, 6th Floor Hall of States Bldg. Kansas City, MO 64108-2662 New York, NY 10005-2906 444 North Capitol NW, Suite 701 816-842-3600 212-398-9000 Washington, DC 20001-1509 202-624-7790

TABLE OF CONTENTS 2005 Report Page

INTRODUCTION ....................................................................................................................................................1 Report Format.............................................................................................................................................................1 Aggregation, Combination, and Calculation of Data .................................................................................................1 Crosschecks and Balances ..........................................................................................................................................2 Qualifications .............................................................................................................................................................3 ANNUAL STATEMENT FINANCIAL DATA .....................................................................................................5 2005 Annual Statement Page 2 Assets 2005 .............................................................................................................................................7 Graph – 2005 Distribution of Assets ......................................................................................................9 Assets 2004 .......................................................................................................................................... 11 Assets 2003 .......................................................................................................................................... 12 Assets 2002 .......................................................................................................................................... 13 Assets 2001 .......................................................................................................................................... 14 3 Liabilities, Surplus, and Other Funds 2001-2005 ................................................................................ 15 Table—Liabilities, Surplus and Other Funds as Percent of Total Assets ............................................ 16 4 Statement of Income ............................................................................................................................ 17 Underwriting and Investment Exhibit, Statement of Income 2001-2004 ............................................ 18 6 Underwriting and Investment Exhibit, Part 1 – Premiums Earned...................................................... 19 8 Underwriting and Investment Exhibit, Part 1B– Premiums Written .................................................. 20 9 Underwriting and Investment Exhibit, Part 2 – Losses Paid and Incurred .......................................... 21 10 Underwriting and Investment Exhibit, Part 2A – Unpaid Losses and LAE ........................................ 22 11 Underwriting and Investment Exhibit, Part 3 – Expenses ................................................................... 23 12 Exhibit of Net Investment Income....................................................................................................... 24 12 Exhibit of Capital Gains (Losses) ........................................................................................................ 24 13 Exhibit of Nonadmitted Assets ............................................................................................................ 25 15 Summary Investment Schedule............................................................................................................ 26 22 Schedule D – Summary By Country; Long-Term Bonds and Stocks Owned ..................................... 27 23-25 Schedule D – Part 1A, Section 1, Quality and Maturity Distribution of Bonds Owned;

By Types of Issues and NAIC Designations...................................................................................28-30 Graph—Maturity Distribution of Bonds, 1996-2005 .......................................................................... 31 26-27 Schedule D – Part 1A, Section 2, Quality and Maturity Distribution of Bonds Owned;

By Major Type and Subtype of Issues............................................................................................33-35 42 Schedule H – Accident and Health Exhibit – Part 1 – Analysis of Underwriting Operations............. 36 43 Schedule H – Part 2 – Reserves and Liabilities, Part 3 – Test of Prior Year Claim Reserves

and Liabilities; Part 4 – Reinsurance ................................................................................................... 37 44 Schedule H – Part 5 – Health Claims................................................................................................... 38 45 Analysis of Losses and Loss Expenses – Schedule P – Part 1 – Summary ......................................... 39

© 1992-2007 National Association of Insurance Commissioners

TABLE OF CONTENTS

ANNUAL STATEMENT FINANCIAL DATA (continued)

2005 Annual Statement Page 2005 Report Page 46 Schedule P – Part 2 – Summary – Incurred Net Losses and Defense and Cost Containment

Expenses; Part 3 – Summary – Cumulative Net Paid Losses and D&CC Expenses; Part 4 – Summary – Bulk and IBNR Reserves on Net Losses and D&CC Expenses.......................... 40

47 Schedule P – Part 1A – Homeowners/Farmowners ............................................................................. 41 48 Schedule P – Part 1B – Private Passenger Auto Liability/Medical ..................................................... 42 49 Schedule P – Part 1C – Commercial Auto/Truck Liability/Medical ................................................... 43 50 Schedule P – Part 1D – Workers’ Compensation ................................................................................ 44 51 Schedule P – Part 1E – Commercial Multiple Peril............................................................................. 45 52 Schedule P – Part 1F – Section 1 – Medical Malpractice – Occurrence.............................................. 46 53 Schedule P – Part 1F – Section 2 – Medical Malpractice – Claims-Made .......................................... 47 54 Schedule P – Part 1G – Special Liability............................................................................................. 48 55 Schedule P – Part 1H – Section 1 – Other Liability – Occurrence ...................................................... 49 56 Schedule P – Part 1H – Section 2 – Other Liability – Claims-Made................................................... 50 57 Schedule P – Part 1I – Special Property .............................................................................................. 51 58 Schedule P – Part 1J – Auto Physical Damage.................................................................................... 51 59 Schedule P – Part 1K – Fidelity/Surety ............................................................................................... 52 60 Schedule P – Part 1L – Other (Including Credit, Accident and Health) .............................................. 52 61 Schedule P – Part 1M – International .................................................................................................. 53 62 Schedule P – Part 1N – Reinsurance – Nonproportional Assumed Property ...................................... 54 63 Schedule P – Part 1O – Reinsurance – Nonproportional Assumed Liability ...................................... 55 64 Schedule P – Part 1P – Reinsurance – Nonproportional Assumed Financial ...................................... 56 65 Schedule P – Part 1R – Section 1 – Products Liability – Occurrence ................................................. 57 66 Schedule P – Part 1R – Section 2 – Products Liability – Claims-Made .............................................. 58 67 Schedule P – Part 1S – Financial Guaranty/Mortgage Guaranty......................................................... 59 68 Schedule P – Parts 2A through 2E....................................................................................................... 60 69 Schedule P – Parts 2F through 2H ....................................................................................................... 61 70 Schedule P – Parts 2I through 2M ....................................................................................................... 62 71 Schedule P – Parts 2N through 2P ....................................................................................................... 63 72 Schedule P – Parts 2R through 2S ....................................................................................................... 64 73 Schedule P – Parts 3A through 3E....................................................................................................... 65 74 Schedule P – Parts 3F through 3H ....................................................................................................... 66 75 Schedule P – Parts 3I through 3M ....................................................................................................... 67 76 Schedule P – Parts 3N through 3P ....................................................................................................... 68 77 Schedule P – Parts 3R through 3S ....................................................................................................... 69 78 Schedule P – Parts 4A through 4E....................................................................................................... 70 79 Schedule P – Parts 4F through 4H ....................................................................................................... 71 80 Schedule P – Parts 4I through 4M ....................................................................................................... 72 81 Schedule P – Parts 4N through 4P ....................................................................................................... 73 82 Schedule P – Parts 4R through 4S ....................................................................................................... 74 83 Schedule P – Part 5A – Homeowners/Farmowners ............................................................................. 75 84 Schedule P – Part 5B – Private Passenger Auto Liability/Medical ..................................................... 76 85 Schedule P – Part 5C – Comm. Auto/Truck Liability/Medical ........................................................... 77


TABLE OF CONTENTS

ANNUAL STATEMENT FINANCIAL DATA (continued) 2005 Annual Statement Page 2005 Report Page 86 Schedule P – Part 5D – Workers’ Compensation ................................................................................ 78 87 Schedule P – Part 5E – Commercial Multiple Peril............................................................................. 79 88 Schedule P – Part 5F – Medical Malpractice – Occurrence................................................................. 80 89 Schedule P – Part 5F – Medical Malpractice – Claims-Made ............................................................. 81 90 Schedule P – Part 5H – Other Liability – Occurrence ......................................................................... 82 91 Schedule P – Part 5H – Other Liability – Claims-Made...................................................................... 83 92 Schedule P – Part 5R – Products Liability – Occurrence .................................................................... 84 93 Schedule P – Part 5R – Products Liability – Claims-Made ................................................................. 85 94 Schedule P – Parts 6C and 6D ............................................................................................................. 86 95 Schedule P – Parts 6E – Com. Multi. Peril and 6H Other Liability (Occurrence)............................... 87 96 Schedule P – Parts 6H – Other Liability (Claims Made) and 6M (International)................................ 88 97 Schedule P – Parts 6N and 6O ............................................................................................................. 89 98 Schedule P – Parts 6R – Products Liability (Occurrence) and 6R (Claims Made).............................. 90 99 Schedule P – Part 7A – Sect. 1-3 – Primary Loss Sensitive Contracts................................................ 91 100 Schedule P – Part 7A – Sect. 4, 5 – Primary Loss Sensitive Contracts ............................................... 92 101 Schedule P – Part 7B – Sect. 1-3 – Reinsurance Loss Sensitive Contracts ......................................... 93 102 Schedule P – Part 7B – Sect. 4-7 – Reinsurance Loss Sensitive Contracts ......................................... 94 Supp4 Insurance Expense Exhibit – Part I – Allocation to Expense Groups.................................................. 95 Supp5Pg1 Insurance Expense Exhibit – Part II – Allocation to Lines of Business Net of Reinsurance

Columns 1 through 12.......................................................................................................................... 96 Supp5Pg2 Insurance Expense Exhibit – Part II (Continued) Columns 13 through 22 ......................................... 97 Supp6Pg1 Insurance Expense Exhibit – Part II (Continued) Columns 23 through 32 ......................................... 98 Supp6Pg2 Insurance Expense Exhibit – Part II (Continued) Columns 33 through 42 ......................................... 99 Supp7Pg1 Insurance Expense Exhibit – Part III Allocation to Lines of Direct Business Written

Columns 1 through 12........................................................................................................................ 100 Supp7Pg2 Insurance Expense Exhibit – Part III (Continued) Columns 13 through 22 ...................................... 101 Supp8 Insurance Expense Exhibit – Part III (Continued) Columns 23 through 34 ...................................... 102 Technical Notes ..................................................................................................................................................... 103 STATE AND COUNTRYWIDE INSURANCE DATA ................................................................................... 105 2005 Annual Statement Page 104 Schedule T – Exhibit of Premiums Written ....................................................................................... 107 104.1 Schedule T, Part 2– Interstate Compact Products – Exhibit of Premiums Written ........................... 108 Supp 36 Supplement A, Schedule T – Exhibit of Medical Malpractice Premiums Written ............................ 109 Graph—2004 Direct Premiums Written, By State............................................................................. 111 Table—1996-2005 Historical Direct Premiums Written, By Line .................................................... 113 Graph—1996-2005 Total Direct Premiums Written.......................................................................... 115 20 Exhibit of Premiums and Losses, By Line—Total (United States, District of Columbia, U.S.

Territories, Canada, Aggregate Other Alien)..................................................................................... 117 20 Exhibit of Premiums and Losses, By Line—Alabama..................................................................... 118


TABLE OF CONTENTS

STATE AND COUNTRYWIDE INSURANCE DATA (continued)

2005 Annual Statement Page 2005 Report Page 20 Exhibit of Premiums and Losses, By Line—Alaska ........................................................................ 119 20 Exhibit of Premiums and Losses, By Line—Arizona ...................................................................... 120 20 Exhibit of Premiums and Losses, By Line—Arkansas .................................................................... 121 20 Exhibit of Premiums and Losses, By Line—California ................................................................... 122 20 Exhibit of Premiums and Losses, By Line—Colorado..................................................................... 123 20 Exhibit of Premiums and Losses, By Line—Connecticut ................................................................ 124 20 Exhibit of Premiums and Losses, By Line—Delaware .................................................................... 125 20 Exhibit of Premiums and Losses, By Line—District of Columbia................................................... 126 20 Exhibit of Premiums and Losses, By Line—Florida ......................................................................... 127 20 Exhibit of Premiums and Losses, By Line—Georgia....................................................................... 128 20 Exhibit of Premiums and Losses, By Line—Hawaii ........................................................................ 129 20 Exhibit of Premiums and Losses, By Line—Idaho .......................................................................... 130 20 Exhibit of Premiums and Losses, By Line—Illinois ........................................................................ 131 20 Exhibit of Premiums and Losses, By Line—Indiana........................................................................ 132 20 Exhibit of Premiums and Losses, By Line—Iowa............................................................................ 133 20 Exhibit of Premiums and Losses, By Line—Kansas ........................................................................ 134 20 Exhibit of Premiums and Losses, By Line—Kentucky .................................................................... 135 20 Exhibit of Premiums and Losses, By Line—Louisiana.................................................................... 136 20 Exhibit of Premiums and Losses, By Line—Maine ......................................................................... 137 20 Exhibit of Premiums and Losses, By Line—Maryland .................................................................... 138 20 Exhibit of Premiums and Losses, By Line—Massachusetts............................................................. 139 20 Exhibit of Premiums and Losses, By Line—Michigan .................................................................... 140 20 Exhibit of Premiums and Losses, By Line—Minnesota................................................................... 141 20 Exhibit of Premiums and Losses, By Line—Mississippi ................................................................. 142 20 Exhibit of Premiums and Losses, By Line—Missouri ..................................................................... 143 20 Exhibit of Premiums and Losses, By Line—Montana ..................................................................... 144 20 Exhibit of Premiums and Losses, By Line—Nebraska .................................................................... 145 20 Exhibit of Premiums and Losses, By Line—Nevada........................................................................ 146 20 Exhibit of Premiums and Losses, By Line—New Hampshire ......................................................... 147 20 Exhibit of Premiums and Losses, By Line—New Jersey ................................................................ 148 20 Exhibit of Premiums and Losses, By Line—New Mexico .............................................................. 149 20 Exhibit of Premiums and Losses, By Line—New York .................................................................. 150 20 Exhibit of Premiums and Losses, By Line—North Carolina ........................................................... 151 20 Exhibit of Premiums and Losses, By Line—North Dakota ............................................................. 152 20 Exhibit of Premiums and Losses, By Line—Ohio............................................................................ 153 20 Exhibit of Premiums and Losses, By Line—Oklahoma................................................................... 154 20 Exhibit of Premiums and Losses, By Line—Oregon........................................................................ 155 20 Exhibit of Premiums and Losses, By Line—Pennsylvania .............................................................. 156 20 Exhibit of Premiums and Losses, By Line—Rhode Island .............................................................. 157 20 Exhibit of Premiums and Losses, By Line—South Carolina ........................................................... 158 20 Exhibit of Premiums and Losses, By Line—South Dakota.............................................................. 159 20 Exhibit of Premiums and Losses, By Line—Tennessee................................................................... 160


TABLE OF CONTENTS

STATE AND COUNTRYWIDE INSURANCE DATA (continued)

2005 Annual Statement Page 2005 Report Page 20 Exhibit of Premiums and Losses, By Line—Texas .......................................................................... 161 20 Exhibit of Premiums and Losses, By Line—Utah............................................................................ 162 20 Exhibit of Premiums and Losses, By Line—Vermont ..................................................................... 163 20 Exhibit of Premiums and Losses, By Line—Virginia ...................................................................... 164 20 Exhibit of Premiums and Losses, By Line—Washington ................................................................ 165 20 Exhibit of Premiums and Losses, By Line—West Virginia ............................................................ 166 20 Exhibit of Premiums and Losses, By Line—Wisconsin................................................................... 167 20 Exhibit of Premiums and Losses, By Line—Wyoming.................................................................... 168 20 Exhibit of Premiums and Losses, By Line—American Samoa ........................................................ 169 20 Exhibit of Premiums and Losses, By Line—Guam.......................................................................... 170 20 Exhibit of Premiums and Losses, By Line—Puerto Rico................................................................. 171 20 Exhibit of Premiums and Losses, By Line—U.S. Virgin Islands..................................................... 172 20 Exhibit of Premiums and Losses, By Line—Canada........................................................................ 173 20 Exhibit of Premiums and Losses, By Line—Aggregate Other Alien ............................................... 174 Technical Notes ..................................................................................................................................................... 175 SELECTED DATA ELEMENTS FROM COMPANY AND COMBINED STATEMENTS ...................... 177 How to Locate Companies and Groups................................................................................................................. 179 Selected Annual Statement Data Elements, By Company: ................................................................................... 180 • Total Assets • Policyholders Surplus • Net Losses Unpaid • Net Loss Adjustment Expense Unpaid • Unearned Premium Reserve • Direct Premiums Written • Net Premiums Written • Net Premiums Earned • Net Losses Incurred • Net Loss Expenses Incurred • Loss + Loss Adjustment Expenses as a Percent of Earned Premiums • Net Underwriting Expenses • Net Underwriting Expenses as a Percent of Net Premiums Written • Net Underwriting Gain or (Loss) • Net Investment Gain or (Loss) • Federal Taxes Incurred • Net Income Technical Notes ..................................................................................................................................................... 342 INDEX OF COMPANIES .................................................................................................................................. 343


INTRODUCTION This Statistical Compilation of Annual Statement Information for Property/Casualty Insurance Companies in 2005 has been created to fill a need for industrywide totals from the NAIC annual statement databases. These data, by being readily available as a reference, will satisfy a wide range of needs and uses.

Report Format This report contains three major sections:

Annual Statement Financial Data • The first section consists of countrywide financial data presented in the NAIC annual

statement format for Assets, Liabilities, Underwriting and Investment Exhibits, Analysis of Assets, Schedule D, Schedule H, Schedule P and the Insurance Expense Exhibit (IEE).

State and Countrywide Insurance Data • The second section consists primarily of 2005 direct premium and loss data by state

and by line of insurance. This includes Schedule T (Exhibit of Premiums Written), Schedule T Part 2 (Interstate Compact Products Exhibit of Premiums Written), Supplement “A” to Schedule T (Exhibit of Medical Malpractice Premiums Written) and page 20 (countrywide and by state).

Selected Data Elements from Company and Combined Statements • The third section consists of selected 2005 data elements from both company and

combined annual statements. The annual statement sources for each of these data are listed in the technical notes. An index is included to facilitate locating companies that are included in combined statements.

Comments on this report are encouraged so that the report will continue to evolve and meet the needs of NAIC members and other users. These data are maintained in NAIC databases and are available for additional application development. These data are also available for purchase by the public in both hardcopy and electronic formats.

Aggregation, Combination and Calculation of Data This report utilizes the term “aggregated” to describe data developed by summing the annual statements of individual companies. The term “combined” is used to describe data developed by summing combined annual statements with those individual companies not included in any combined annual statement. Combined annual statements for property/casualty insurance companies have been used, where available, to more accurately reflect industry financial data. The term “combined” data is most significant with respect to developing asset, liability and surplus data. Aggregated assets calculated from the individual company totals are significantly higher than combined assets calculated using combined statements. The differences can be attributed to the fact that combined statements report data net of affiliated company investments and transactions while individual company statements do not. With respect to direct and net insurance premium, loss and expense data, differences between aggregated and combined data do exist, but those differences are less significant. Data related to

© 1992-2007 National Association of Insurance Commissioners1

reinsurance assumed and ceded, however, will show significant differences since many intercompany transactions are eliminated in combined statements. The Technical Notes in each section will show that all information, with the exception of calculated percentages, is directly aggregated from the Annual Statement filings rather than calculated as in prior publications. This has been done in order to provide a more accurate representation of industry data. As a result, figures that are compared from one statement page to another may not match due to individual company rounding and the cumulative affects of minor variances. The Insurance Experience Exhibit (IEE), state pages, and Schedule T pages are aggregated data as reported on individual company rather than combined annual statements. The scope of this project does not include any extraordinary review or detailed analysis of data for the purpose of combining insurance company data. Combination of data is accomplished entirely through the use of combined annual statements, with one significant exception. Annual statement data for the Travelers Insurance Company (Accident Department), NAIC company code 39357 have been adjusted to delete assets and liabilities of that company’s life insurance department.

Crosschecks and Balances This Statistical Compilation presents data in the NAIC annual statement format. The data are developed from the annual statements of 2,776 individual companies as well as 299 combined annual statements. (Of the 2,776 individual companies, 1,541 are not included in any combined statement.) The level of precision that is possible with an individual company statement is not possible with industry combined and aggregated data. The most important difference is that a significant number of companies are added to and deleted from the NAIC annual statement database each year. Therefore, the ending surplus as regards policyholders for the prior year cannot and should not equal the beginning surplus as regards policyholders for the current year. Also, while every effort has been made to ensure that all significant errors and omissions in annual statements have been identified and resolved, certain anomalous data may exist. Most anomalies have been identified and resolved. However, in some instances, explanations might be provided by insurance companies, which result in maintaining the anomalous figures. To minimize anomalous results, certain statements might be excluded from this Statistical Compilation. The section displaying selected data elements for individual companies provides a complete listing of companies included in this Statistical Compilation. No company in the NAIC database was excluded if its exclusion would have resulted in a significant impact on the industry totals.


Qualifications The accuracy of the reports included in this publication depends on the accuracy of the information contained in the annual statements filed by insurers. The NAIC system cannot always identify a misstatement in accordance with statutory requirements or errors in identifying securities. Even though the data elements used to prepare the reports are extracted from annual statements filed with the NAIC, the NAIC cannot guarantee their accuracy. While the NAIC exercises a great deal of care in capturing data from annual statements and producing various reports, as with any statistical project of a significant magnitude, errors can occur. Consequently, the NAIC makes no representations or warranties with respect to the accuracy of the data and statistics in this report. If you have any questions regarding this report, please contact Joe Bieniek at the NAIC at (816) 842-3600 or [email protected]. Additional copies of this report can be obtained from the NAIC Insurance Products and Services Division at (816) 783-8300.


Annual Statement Financial Data


COMBINED PROPERTY/CASUALTY INSURANCE INDUSTRYANNUAL STATEMENT FOR THE YEAR 2005 OF THE ......................................................................................................

(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets

(Cols 1 - 2)Net Admitted

Assets

Current Year Prior Year

2

2005 Annual Statement Year Percent ofNet Admitted

Assets toTotal Assets

.1. Bonds (Schedule D) 806,929,998 171,210 806,758,787 735,451,01660.96

.2. Stocks (Schedule D):

. 2.1 Preferred stocks 11,551,427 7,120 11,544,307 15,407,7340.87

. 2.2 Common stocks 200,195,390 665,728 199,529,662 190,915,03115.08

.3. Mortgage loans on real estate (Schedule B):

. 3.1 First liens 3,349,796 1,926 3,347,869 3,190,5210.25

. 3.2 Other than first liens 47,613 383 47,230 54,6880.00

.4. Real estate (Schedule A):

. 4.1 Properties occupied by the company 8,098,280 7,778 8,090,502 8,032,3380.61

. 4.2 Properties held for the production of income 1,046,258 15,509 1,030,750 1,076,1800.08

. 4.3 Properties held for sale 444,209 587 443,622 464,6920.03

.5. Cash, cash equivalents and short-term investments 93,929,772 106,674 93,823,098 91,935,3617.09

.6. Contract loans 2,909 2,909 0 00.00

.7. Other invested assets 42,518,552 761,356 41,757,195 34,431,7323.16

.8. Receivables for securities 4,144,592 3,026 4,141,566 1,452,4630.31

.9. Aggregate write-ins for invested assets 9,129,829 3,701,677 5,428,151 5,046,3510.41

10. Subtotals, cash and invested assets (Lines 1 to 9) 1,181,388,623 5,445,883 1,175,942,740 1,087,458,10788.86

11. Title plants less amounts charged off (for Title insurers only) 0 0 0 500.00

12. Investment income due and accrued 10,395,583 7,963 10,387,621 9,387,8510.78

13. Premiums and considerations

. 13.1 Uncollected prem & agents' balances in the course of collect 36,329,037 3,005,872 33,323,165 32,013,3022.52

. 13.2 Deferred premiums, agents' balances and installments

. booked but deferred and not yet due 66,697,512 294,645 66,402,867 61,932,3255.02

. 13.3 Accrued retrospective premiums 3,794,609 236,174 3,558,435 3,405,0550.27

14. Reinsurance:

. 14.1 Amounts recoverable from reinsurers 18,853,789 62,742 18,791,047 17,691,7591.42

. 14.2 Funds held by or deposited with reinsured companies 5,853,546 29,386 5,824,160 6,363,8100.44

. 14.3 Other amounts receivable under reinsurance contracts 1,800,276 1,404 1,798,871 965,7040.14

15. Amounts receivable relating to uninsured plans 133,377 3,959 129,418 60,1700.01

16.1 Current federal and foreign income tax recoverable & interest ther 5,398,736 198,970 5,199,766 3,680,9520.39

16.2 Net deferred tax asset 41,963,622 23,424,303 18,539,319 17,025,0891.40

17. Guaranty funds receivable or on deposit 1,214,998 7,879 1,207,119 1,076,2850.09

18. Electronic data processing equipment and software 3,859,147 2,330,065 1,529,082 1,439,7270.12

19. Furniture and equipment, including health care delivery assets 2,164,108 2,154,572 9,535 10,5460.00

20. Net adjustment in assets and liabilities due to foreign exchange rat (18,218) 13 (18,230) 24,8910.00

21. Receivables from parent, subsidiaries and affiliates 9,366,788 433,373 8,933,415 8,142,7800.68

22. Health care and other amounts receivable 74,405 21,890 52,515 202,4780.00

23. Aggregate write-ins for other than invested assets 38,416,677 9,976,660 28,440,018 31,517,4852.15

24. Total assets excluding Separate Accounts, Segregated Accounts

. and Protected Cell Accounts (Lines 10 to 23) 1,427,687,344 47,635,753 1,380,051,590 1,282,398,366104.28

25. From Separate Accts, Segregated Accts and Protected Cell Accts 70,313 0 70,313 69,4040.01

26. TOTALS (Lines 24 and 25) 1,427,757,656 47,635,753 1,380,121,903 1,282,467,770104.28


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(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2

2004 Annual Statement Year Percent ofNet Admitted

Assets toTotal Assets

1. Bonds (Schedule D) 752,975,258 188,852 752,786,406 678,096,34256.88

2. Stocks (Schedule D)

2.1 Preferred stocks 15,483,118 8,639 15,474,479 15,820,1341.17

2.2 Common stocks 204,483,423 980,216 203,503,207 183,456,69315.38

3. Mortgage loans on real estate (Schedule B):

3.1 First liens 3,221,362 1,297 3,220,064 2,851,2150.24

3.2 Other than first liens 57,954 3,242 54,712 47,2010.00

4. Real estate (Schedule A):

4.1 Properties occupied by the company 8,509,413 2,922 8,506,491 8,379,7610.64

4.2 Properties held for the production of income 1,093,281 12,124 1,081,157 1,030,6310.08

4.3 Properties held for sale 521,197 15,693 505,504 551,3570.04

5. Cash, cash equivalents and short-term investments 95,415,386 77,889 95,337,498 93,345,0047.20

6. Contract loans 304 304 0 6450.00

7. Other invested assets (Schedule BA) 35,336,646 763,565 34,573,081 33,274,5302.61

8. Receivable for securities 1,709,838 1,557 1,708,281 3,139,6840.13

9. Aggregate write-ins for invested assets 8,809,905 3,811,769 4,998,136 3,966,0820.38

10. Subtotals, cash and invested assets (Lines 1 to 9) 1,127,617,086 5,868,069 1,121,749,017 1,023,959,27984.76

11. Investment income due and accrued 9,610,948 6,188 9,604,760 9,054,3040.73

12. Premiums and considerations:

12.1 Uncollected prem and agents' balances in the course of collecti 36,378,040 3,053,982 33,324,057 32,827,7272.52

12.2 Deferred premiums, agents' balances and installments

booked but deferred and not yet due 63,931,714 408,123 63,523,590 63,966,1604.80

12.3 Accrued retrospective premiums 3,864,931 279,013 3,585,918 3,867,0560.27

13. Reinsurance:

13.1 Amounts recoverable from reinsurers 19,588,351 32,682 19,555,669 21,663,8611.48

13.2 Funds held by or deposited with reinsured companies 6,110,480 35,460 6,075,021 8,631,8830.46

13.3 Other amounts receivable under reinsurance contracts 985,822 2,343 983,479 566,0080.07

14. Amounts receivable relating to uninsured plans 67,940 5,396 62,545 93,2600.00

15.1 Current federal and foreign income tax recoverable & interest there 4,441,766 110,445 4,331,320 3,000,7220.33

15.2 Net deferred tax asset 41,164,322 23,588,874 17,575,447 16,652,3131.33

16. Guaranty funds receivable or on deposit 1,093,017 8,706 1,084,312 946,0850.08

17. Electronic data processing equipment and software 3,566,801 2,095,688 1,471,113 1,659,6090.11

18. Furniture and equipment, including health care delivery assets 2,355,948 2,345,367 10,581 9,4130.00

19. Net adjustments in assets and liabilities due to foreign exchange rate 24,891 0 24,891 32,3940.00

20. Receivables from parent, subsidiaries and affiliates 8,576,468 351,860 8,224,608 6,737,4280.62

21. Health care and other amounts receivable 211,905 16,328 195,577 89,8290.01

22. Other assets nonadmitted 2,057,751 2,052,210 5,541 6,2000.00

23. Aggregate write-ins for other than invested assets 39,272,964 7,299,285 31,973,678 25,538,9862.42


and Protected Cell Accounts (Lines 10 through 23) 1,370,921,145 47,560,021 1,323,361,124 1,219,302,51799.99

25. From Separate Accts, Segregated Accts and Protected Cell Accts 69,412 8 69,404 71,2900.01

26. TOTALS (Lines 24 and 25) 1,370,990,557 47,560,029 1,323,430,528 1,219,373,806100.00



(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2

2003 Annual Statement Year

1. Bonds (Schedule D) 615,114,245 123,944 614,990,301 540,106,392

2. Stocks (Schedule D)

2.1 Preferred stocks 14,481,901 (975) 14,482,876 13,376,645

2.2 Common stocks 170,915,662 1,826,129 169,089,533 138,424,562


3.1 First liens 2,602,834 11,957 2,590,877 2,376,077

3.2 Other than first liens 13,323 2,062 11,261 12,916


4.1 Properties occupied by the company 7,733,028 1,900 7,731,128 7,981,417

4.2 Properties held for the production of income 465,162 12,097 453,065 475,914

4.3 Properties held for sale 512,033 471 511,561 328,806

5. Cash, cash equivalents and short-term investments 88,820,065 191,851 88,628,214 66,899,062

6. Contract loans 647 1 645 0

7. Other invested assets (Schedule BA) 30,735,980 609,033 30,126,947 30,418,981

8. Receivable for securities 2,555,986 1,616 2,554,370 1,933,404

9. Aggregate write-ins for invested assets 8,209,587 4,048,771 4,160,815 6,884,207

10. Subtotals, cash and invested assets (Lines 1 to 9) 942,160,453 6,828,858 935,331,594 809,218,383

11. Investment income due and accrued 8,279,932 2,765 8,277,167 7,753,289

12. Premiums and considerations:

12.1 Uncollected premiums and agents' balances in the course of collection 32,689,337 2,575,910 30,113,427 30,196,601

12.2 Deferred premiums, agents' balances and installments

booked but deferred and not yet due 58,125,878 528,862 57,597,016 51,565,399

12.3 Accrued retrospective premiums 3,619,516 252,180 3,367,337 3,134,519

13. Reinsurance:

13.1 Amounts recoverable from reinsurers 18,163,111 38,169 18,124,942 17,703,536

13.2 Funds held by or deposited with reinsured companies 6,666,317 31,339 6,634,978 7,029,219

13.3 Other amounts receivable under reinsurance contracts 561,645 (1,032) 562,677 192,402

14. Amounts receivable relating to uninsured plans 99,987 6,727 93,260 197,577

15.1 Current federal and foreign income tax recoverable and interest thereon 2,641,128 188,572 2,452,556 2,969,561

15.2 Net deferred tax asset 35,157,401 20,369,222 14,788,178 13,751,632

16. Guaranty funds receivable or on deposit 871,469 11,892 859,577 707,591

17. Electronic data processing equipment and software 3,364,962 1,793,557 1,571,405 1,725,435

18. Furniture and equipment, including health care delivery assets 2,252,694 2,244,525 8,168 6,389

19. Net adjustments in assets and liabilities due to foreign exchange rates 32,394 0 32,394 15,966

20. Receivable from parent, subsidiaries and affiliates 5,875,561 409,156 5,466,406 7,112,707

21. Health care and other amounts receivable 95,950 6,034 89,916 283,118

22. Other assets nonadmitted 1,354,842 1,348,812 6,030 36,600

23. Aggregate write-ins for other than invested assets 29,166,227 5,722,812 23,443,415 23,835,622


and Protected Cell Accounts (Lines 10 through 23) 1,151,178,805 42,358,361 1,108,820,444 977,435,547

25. From Separate Accounts, Segregated Accounts and Protected Cell Accounts 71,300 10 71,290 0

26. TOTALS (Lines 24 and 25) 1,151,250,105 42,358,371 1,108,891,734 977,435,547

COPYRIGHT 2004 NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS. ALL RIGHTS RESERVED.



(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2


1. Bonds 585,981,355 520,672 585,460,683 544,801,823

2. Stocks:

2.1 Preferred stocks (Schedule D - Part 2 - Section 1) 14,548,214 18,944 14,529,269 10,847,050

2.2 Common stocks (Schedule D - Part 2 - Section 2) 142,265,329 977,884 141,287,445 165,580,737


3.1 First liens 2,671,376 9,280 2,662,096 2,598,985




4.2 Properties held for the production of income 1,082,825 7,182 1,075,643 1,018,182

4.3 Properties held for sale 338,156 846 337,310 357,232

5. Cash and short-term investments 72,710,303 7,148 72,703,155 44,911,897

6. Other invested assets 33,554,512 308,614 33,245,898 33,022,283




10. Agents' balances or uncollected premiums:

10.1 Premiums and agents balances in course of collection 35,356,245 2,918,102 32,438,144 31,412,637

10.2 Premiums, agents balances and installments booked but deferred 55,584,170 786,741 54,797,429 48,180,995


11. Funds held by or deposited with reinsured companies 7,383,171 20,177 7,362,994 6,100,234

12. Bills receivable, taken for premiums 431,033 49,686 381,347 604,755

13. Amounts receivable under high deductible policies 1,976,660 117,726 1,858,934 1,514,874

14. Reinsurance recoverables on loss and LAE payments 18,923,179 32,840 18,890,340 15,626,623

15. Federal & foreign income tax recoverable & interest thereon 41,536,614 23,325,510 18,211,104 14,425,877



18. Interest, dividends and real estate income due and accrued 8,336,808 10,214 8,326,594 8,227,920

19. Net adjustments in assets & liabilities due to foreign exchange rates 13,857 0 13,857 20,578


21. Amount due from/to protected cells 0 0 0 7,984

22. Equities and deposits in pools and associations 1,920,339 63,585 1,856,753 1,598,516

23. Amounts receivable relating to uninsured accident and health plans 94,254 1,488 92,766 100,809

24. Other assets nonadmitted (Exhibit 1) 3,385,480 3,386,656 (1,176) 226


26. Total assets excluding protected cell assets (Lines 9 thru 25) 1,090,407,650 42,371,970 1,048,036,488 977,730,917

27. Protected cell assets 0 0 0 0

28. TOTALS (Lines 26 and 27) 1,090,407,650 42,371,970 1,048,036,488 977,730,917




(Name)(000's)

ASSETS

1

Assets

2 3 4

NonadmittedAssets

Net AdmittedAssets


Assets


2


1. Bonds 563,787,685 79,476 563,708,209 543,774,410

2. Stocks:

2.1 Preferred stocks (Schedule D - Part 2 - Section 1) 11,124,632 77,131 11,047,501 10,730,855

2.2 Common stocks (Schedule D - Part 2 - Section 2) 169,471,056 782,906 168,688,150 187,838,115


3.1 First liens 2,697,963 7,603 2,690,360 2,576,314


4. Real extate (Schedule A):


4.2 Properties held for the production of income 1,035,378 6,901 1,028,477 895,664

4.3 Properties held for sale 355,560 4,301 351,260 134,848

5. Cash and short-term investments 47,208,691 1,547 47,207,144 44,591,938

6. Other invested assets 34,766,924 596,177 34,170,747 31,659,515




10. Agents' balances or uncollected premiums:

10.1 Premiums and agents balances in course of collection 36,105,935 3,254,981 32,850,955 21,049,184

10.2 Premiums, agents balances and installments booked but deferred 50,113,447 993,186 49,120,261 42,912,815


11. Funds held by or deposited with reinsured companies 6,235,788 24,740 6,211,048 5,388,664

12. Bills receivable, taken for premiums 658,772 50,883 607,889 464,088

13. Amounts billed & receivable under deductible & service-only plans 1,745,089 128,821 1,616,269 128,887

14. Reinsurance recoverables on loss and LAE payments 16,623,203 56,308 16,566,895 14,886,799

15. Federal & foreign income tax recoverable & interest thereon 29,329,209 14,482,656 14,846,552 1,930,763



18. Interest, dividends and real estate income due and accrued 8,527,048 4,403 8,522,645 8,881,584

19. Net adjustments in assets & liabilities due to foreign exchange rates 20,578 0 20,578 7,637


21. Equities and deposits in pools and associations 1,697,743 72,519 1,625,224 1,747,750

22. Amounts receivable relating to uninsured accident and health plans 104,795 3,986 100,809 97,073

23. Other assets nonadmitted (Exhibit 1) 3,675,781 3,675,555 226 12,819


25. TOTALS (Lines 9 through 24) 1,041,561,741 32,557,323 1,009,004,418 966,085,912




(Name)(000's)

LIABILITIES, SURPLUS AND OTHER FUNDS 2005 2004 2003 2002 2001

3

1. Losses 429,276,080 352,297,240 353,302,623 334,466,828452,873,301

2. Reinsurance payable on paid loss and loss adjustment expenses 5,072,074 3,744,472 3,603,831 3,412,5113,402,248

3. Loss adjustment expenses 84,845,259 68,282,049 67,888,321 66,613,01491,065,706

4. Commissions payable, contingent commissions and other similar char 6,126,987 4,327,192 3,943,970 3,545,5946,247,251

5. Other expenses (excluding taxes, licenses and fees) 20,277,618 17,796,511 16,672,792 14,575,97019,528,270

6. Taxes, licenses and fees (excluding federal and foreign income taxes) 5,673,670 4,946,728 5,136,861 4,836,4485,558,742

7.1 Current federal and foreign income taxes, including realized capital g 3,775,770 2,778,690 8,486,118 12,763,0602,764,898

7.2 Net deferred tax liability 13,267,761 11,248,816 XXX XXX13,904,499

8. Borrowed money and interest thereon 2,242,562 4,920,754 4,896,479 5,154,6291,868,851

9. Unearned premiums 193,438,582 168,891,852 159,802,960 144,547,096197,395,479

10. Advance premium 5,922,633 5,482,619 5,252,169 XXX6,074,338

11. Dividends declared and unpaid:

11.1 Stockholders 327,453 199,782 165,017 168,022351,840

11.2 Policyholders 886,333 816,202 1,043,940 1,698,077997,686

12. Ceded reinsurance premiums payable (net of ceding commission) 16,176,021 15,210,048 16,984,593 15,412,63217,328,426

13. Funds held by company under reinsurance treaties 29,643,765 31,815,365 28,849,490 23,419,21729,466,391

14. Amounts withheld or retained by company for account of others 8,843,909 6,327,578 5,803,619 5,731,0608,813,428

15. Remittances and items not allocated 2,005,777 880,854 1,343,018 1,905,2471,154,106

16. Provision for reinsurance 6,194,327 5,654,142 6,047,439 5,643,5116,076,695

17. Net adjustments in assets and liabilities due to foreign exchange rates 637,356 549,475 672,458 661,654512,229

18. Drafts outstanding 4,732,508 4,330,439 4,205,522 4,444,0365,892,655

19. Payable to parent, subsidiaries and affiliates 4,785,511 2,608,974 3,200,373 2,833,3785,838,565

20. Payable for securities 3,917,886 6,861,693 10,690,483 5,093,2323,794,353

21. Liability for amounts held under uninsured accident and health plans 3,810 5,362 3,970 3,49612,517

22. Capital notes and interest thereon 33,511 33,914 87,753 86,80328

23. Aggregate write-ins for liabilities 48,396,695 37,887,261 38,290,642 40,467,30154,057,095

24. Total liabilities excluding protected cell liabilities (Lines 1 thru 23 896,503,857 757,895,763 746,374,444934,980,324

25. Protected cell liabilities 0 0 0 XXX0

26. Total liabilities (Lines 24 and 25) 896,503,857 757,895,763 746,374,444 697,482,788934,980,324

27. Aggregate write-ins for special surplus funds 30,875,386 27,321,701 22,260,798 26,609,91633,060,360

28. Common capital stock 3,856,201 3,566,862 3,651,666 3,758,0853,907,125

29. Preferred capital stock 2,906,431 1,712,472 1,816,857 1,766,374510,834

30. Aggregate write-ins for other than special surplus funds 480,762 529,842 220,816 306,445463,468

31. Surplus notes 11,496,180 9,808,870 8,274,007 7,539,01611,575,721

32. Gross paid in and contributed surplus 131,929,760 108,848,951 108,567,356 95,371,580138,110,813

33. Unassigned funds (surplus) 247,298,685 200,176,464 157,865,757 177,158,312259,426,052

34. Less treasury stock, at cost

34.1 shares common 1,904,333 966,068 979,481 974,4521,900,281

34.2 shares preferred 11,181 9,338 14,857 13,56612,516

35. Surplus as regards policyholders (Lines 27 to 33, Less 34)(Pg 4, Ln 3 426,927,892 350,989,755 301,662,919 311,521,707445,141,577

36. TOTALS (Page 2, Line 26, Column 3) 1,323,431,749 1,108,885,518 1,048,037,363 1,009,004,5221,380,121,901


COMBINED PROPERTY/CASUALTY INSURANCE INDUSTRYAS PERCENT OF TOTAL ASSETS

LIABILITIES, SURPLUS AND OTHER FUNDS 2005 2004 2003 2002 2001

1. Losses 32.4 31.8 33.7 33.132.8

2. Reinsurance payable on paid loss and loss adjustment expenses 0.4 0.3 0.3 0.30.2

3. Loss adjustment expenses 6.4 6.2 6.5 6.66.6

4. Commissions payable, contingent commissions and other similar cha 0.5 0.4 0.4 0.40.5

5. Other expenses (excluding taxes, licenses and fees) 1.5 1.6 1.6 1.41.4

6. Taxes, licenses and fees (excluding federal and foreign income taxes 0.4 0.4 0.5 0.50.4

7.1 Current federal and foreign income taxes, including realized capital 0.3 0.3 0.8 1.30.2

7.2 Net deferred tax liability 1.0 1.0 XXX XXX1.0

8. Borrowed money and interest thereon 0.2 0.4 0.5 0.50.1

9. Unearned premiums 14.6 15.2 15.2 14.314.3

10. Advance premium 0.4 0.5 0.5 XXX0.4

11. Dividends declared and unpaid:

11.1 Stockholders 0.0 0.0 0.0 0.00.0

11.2 Policyholders 0.1 0.1 0.1 0.20.1

12. Ceded reinsurance premiums payable (net of ceding commission) 1.2 1.4 1.6 1.51.3

13. Funds held by company under reinsurance treaties 2.2 2.9 2.8 2.32.1

14. Amounts withheld or retained by company for account of others 0.7 0.6 0.6 0.60.6

15. Remittances and items not allocated 0.2 0.1 0.1 0.20.1

16. Provision for reinsurance 0.5 0.5 0.6 0.60.4

17. Net adjustments in assets and liabilities due to foreign exchange rate 0.0 0.0 0.1 0.10.0

18. Drafts outstanding 0.4 0.4 0.4 0.40.4

19. Payable to parent, subsidiaries and affiliates 0.4 0.2 0.3 0.30.4

20. Payable for securities 0.3 0.6 1.0 0.50.3

21. Liability for amounts held under uninsured accident and health plans 0.0 0.0 0.0 0.00.0

22. Capital notes and interest thereon 0.0 0.0 0.0 0.00.0

23. Aggregate write-ins for liabilities 3.7 3.4 3.7 4.03.9

24. Total liabilities excluding protected cell liabilities (Lines 1 thru 2 67.7 68.3 71.267.7

25. Protected cell liabilities 0.0 0.0 0.0 XXX0.0

26. Total liabilities (Lines 24 and 25) 67.7 68.3 71.2 69.167.7

27. Aggregate write-ins for special surplus funds 2.3 2.5 2.1 2.62.4

28. Common capital stock 0.3 0.3 0.3 0.40.3

29. Preferred capital stock 0.2 0.2 0.2 0.20.0

30. Aggregate write-ins for other than special surplus funds 0.0 0.0 0.0 0.00.0

31. Surplus notes 0.9 0.9 0.8 0.70.8

32. Gross paid in and contributed surplus 10.0 9.8 10.4 9.510.0

33. Unassigned funds (surplus) 18.7 18.1 15.1 17.618.8

34. Less treasury stock, at cost

34.1 shares common 0.1 0.1 0.1 0.10.1

34.2 shares preferred 0.0 0.0 0.0 0.00.0

35. Surplus as regards policyholders (Lines 27 to 33, Less 34)(Pg 4, Ln 32.3 31.7 28.8 30.932.3

36. TOTALS (Page 2, Line 26, Column 3) 100.0 100.0 100.0 100.0100.0



(Name)(000's)

STATEMENT OF INCOME Current Year Prior Year

4

. UNDERWRITING INCOME

.1. Premiums earned 430,239,022 427,267,429

. DEDUCTIONS

.2. Losses incurred 264,797,283 257,164,199

.3. Loss expenses incurred 56,833,640 54,533,209

.4. Other underwriting expenses incurred 111,579,480 109,390,752

.5. Aggregate write-ins for underwriting deductions 641,604 123,979

.6. Total underwriting deductions (Lines 2 through 5) 433,852,008 421,212,139

.7. Net income of protected cells 0 0

.8. Net underwriting gain (loss) (Line 1 minus Line 6 plus Line 7) (3,612,986) 6,055,290

. INVESTMENT INCOME

.9. Net investment income earned 51,860,848 41,733,67710. Net realized capital gains (losses) less capital gains tax 12,181,879 8,920,859

11. Net investment gain (loss) (Lines 9 + 10) 64,042,727 50,654,537. OTHER INCOME12. Net gain (loss) from agents' or premium balances charged off (1,601,622) (1,266,955)13. Finance and service charges not included in premiums 2,594,825 2,489,80714. Aggregate write-ins for miscellaneous income 291,484 (1,544,846)

15. Total other income (Lines 12 through 14) 1,284,687 (321,994)

16. Net income before dividends to policyholders, after capital gains tax and. before all other federal and foreign income taxes (Lines 8 + 11 + 15) 61,714,428 56,387,83317. Dividends to policyholders 2,300,307 2,174,658

18. Net income, after dividends to policyholders, after capital gains tax and. before all other federal and foreign income taxes (Line 16 minus Line 17) 59,414,121 54,213,17519. Federal and foreign income taxes incurred 10,743,076 14,340,515

20. Net income (Line 18 minus 19)(to Line 22) 48,671,045 39,872,660

. CAPITAL AND SURPLUS ACCOUNT21. Surplus as regards policyholders, December 31 prior year 410,772,136 365,673,578

. GAINS AND (LOSSES) IN SURPLUS22. Net income (from Line 20) 48,671,045 39,872,66023. Net transfers (to) from Protected Cell accounts (220) 4,79624. Change in net unrealized capital gaims or (losses) less capital gains tax (5,920,755) 12,463,24825. Change in net unrealized foreign exchange capital gain (loss) (268,913) (76,673)26. Change in net deferred income tax 389,949 657,18527. Change in nonadmitted assets (1,304,669) 71,67528. Change in provision for reinsurance 279,313 (38,350)29. Change in surplus notes 723,052 955,73130. Surplus (contributed to) withdrawn from protected cells 10,405 031. Cumulative effect of changes in accounting principles (1,254,510) 57,57432. Capital changes:. 32.1 Paid in 130,834 428,319. 32.2 Transferred from surplus (Stock Dividend) 16,702 54,361. 32.3 Transferred to surplus (1,182,093) (7,009)33. Surplus adjustments:. 33.1 Paid in 11,705,668 7,645,148. 33.2 Transferred to capital (Stock Dividend) (26,774) 286,061. 33.3 Transferred from capital 1,178,904 (16,511)34. Net remittances from or (to) Home Office (30,805) 220,99935. Dividends to stockholders (14,989,902) (14,318,081)36. Change in treasury stock (7,485) (944,163)37. Aggregate write-ins for gains and losses in surplus (3,750,304) (2,331,967)

38. Change in surplus as regards policyholders for the year (Lines 22 thru 37) 34,369,441 44,985,005

39. Surplus as regards policyholders, Dec 31 current year (Line 21 + Line 38) 445,141,577 410,658,583


COMBINED PROPERTY/CASUALTY INSURANCE INDUSTRY

(000's)

UNDERWRITING AND INVESTMENT EXHIBIT 2004 2003 2002 2001

4

STATEMENT OF INCOME UNDERWRITING INCOME1. Premiums earned 438,174,880 383,162,548 360,694,762 325,583,168 DEDUCTIONS2. Losses incurred 264,277,767 238,063,634 247,733,448 244,112,1623. Loss expenses incurred 56,321,466 49,799,140 45,795,031 42,491,5544. Other underwriting expenses incurred 111,920,226 98,233,596 96,380,057 89,350,5425. Aggregate write-ins for underwriting deductions 146,025 394,499 224,865 605,357 6. Total underwriting deductions (Items 2 thru 5) 432,665,484 386,490,869 390,133,401 376,559,615

7. Net income of protected cells 0 0 0 XXX 8. Net underwriting gain or (loss) (Line 1 minus 6 plus line 7) 5,509,395 (3,328,322) (29,438,639) (50,976,447) INVESTMENT INCOME 9. Net investment income earned 43,249,181 38,248,743 40,986,350 41,010,05710. Net realized capital gains or (losses) 9,299,573 6,695,216 3,160,932 7,250,783

11. Net investment gain or (loss) (Lines 9 + 10) 52,548,753 44,943,959 44,147,282 48,260,840 OTHER INCOME12. Net gain or (loss) from agents or premium balances charged off (1,336,071) (1,086,643) (1,047,641) (907,010)13. Finance and service charges not included in premiums 2,517,677 2,248,342 2,113,260 1,863,91414. Aggregate write-ins for miscellaneous income (1,464,383) (1,357,204) (1,791,106) 258,842

15. Total other income (Lines 12 thru 14) (282,776) (195,505) (725,487) 1,215,745

16. Net income before dividends to policyholders and before federal and foreign income taxes (Lines 8 + 11 + 15) 57,775,373 41,420,133 13,983,156 (1,499,861)17. Dividends to policyholders 2,145,174 2,074,829 2,248,512 2,726,162

18. Net income after dividends to policyholders but before federal and foreign income taxes (Line 16 minus 17) 55,630,199 39,345,304 11,734,644 (4,226,023)19. Federal and foreign income taxes incurred 14,758,354 10,519,244 2,026,669 187,395

20. Net income (Line 18 minus 19)(to Line 22) 40,871,845 28,826,059 9,707,975 (4,413,418)

CAPITAL AND SURPLUS ACCOUNT21. Surplus as regards policyholders, December 31 prior year 381,301,674 289,205,073 302,830,089 336,924,931

GAINS AND (LOSSES) IN SURPLUS22. Net income (from Line 20) 40,871,845 28,826,059 9,707,975 (4,413,418)22. Change in foreign exchange adjustment XXX XXX XXX XXX23. Change in net unrealized capital gains or (losses) 13,739,350 26,452,554 (23,847,742) (18,162,386)23. Change in excess of statutory reserves over statement reserves XXX XXX XXX XXX24. Change in net unrealized foreign exchange capital gains (losses) (68,762) 198,309 107,049 (37,525)25. Change in net deferred income tax 1,049,004 3,332,835 10,909,637 9,233,90226. Change in non-admitted assets (239,958) (559,943) (9,146,369) (6,962,639)27. Change in provision for reinsurance 176,645 105,035 (532,898) (248,146)28. Change in surplus notes 978,800 1,556,174 1,528,223 1,125,03729. Surplus (contributed to) withdrawn from protected cells 0 188 0 XXX29. Extraordinary amounts of taxes for prior years XXX XXX XXX XXX30. Cumulative effect of changes in accounting principles 57,574 (7,934) 1,698,389 (3,165,602)31. Capital changes: 31.1 Paid in 105,214 838,650 572,181 169,855 31.2 Transferred from surplus (Stock Dividend) 55,661 38,142 29,160 145,635 31.3 Transferred to surplus (5,189) 281,496 13,165 (24,108)32. Surplus adjustments: 32.1 Paid in 8,253,078 11,056,207 16,437,012 12,771,601 32.2 Transferred to capital (Stock Dividend) 229,627 (411,950) (29,150) (145,856) 32.3 Transferred from capital (18,381) (393,117) (25,456) (28,563)33. Net remittances from or (to) Home Office 220,999 (95,372) 11,480 9,79134. Dividends to stockholders (16,631,727) (9,159,466) (7,646,098) (12,342,920)35. Change in treasury stock (940,215) 18,587 (9,329) (20,550)36. Aggregate write-ins for gains and losses in surplus (2,208,576) (278,897) (944,400) (3,305,955)

37. Change in surplus as regards plcyhldrs for the year (Lines 22 thru 36) 45,624,988 61,784,682 (1,167,170) (25,401,847)

38. Surplus as regards policyholders, Dec 31 current year (Lines 21 + 37) 426,926,663 350,989,755 301,662,920 311,523,084


COMBINED PROPERTY/CASUALTY INSURANCE INDUSTRYANNUAL STATEMENT FOR THE YEAR 2005 OF THE ....................................................................................................

(Name)(000's)

Line of Business NetPremiums

Unearned UnearnedPremiums

PremiumsPrior Year

PremiumsCurrent Year

EarnedDuring Year

6

UNDERWRITING AND INVESTMENT EXHIBIT

PART 1 - PREMIUMS EARNED

Written Cols. 1 + 2 - 3

1 2 3 4

1. Fire 7,964,019 4,025,213 4,153,912 7,835,320

2. Allied lines 8,205,627 2,915,766 2,974,357 8,147,037

3. Farmowners multiple peril 2,267,698 1,070,049 1,128,631 2,209,116

4. Homeowners multiple peril 52,988,595 27,044,852 28,841,118 51,192,329

5. Commercial multiple peril 29,681,311 14,671,664 15,403,847 28,949,128

6. Mortgage guaranty 4,454,712 595,547 692,686 4,357,573

8. Ocean marine 2,948,593 1,072,032 1,070,917 2,949,709

9. Inland marine 8,251,584 4,109,627 4,508,288 7,852,924

10. Financial guaranty 3,004,245 10,289,184 10,896,538 2,378,513

11.1 Medical malpractice - occurrence 2,232,788 880,485 977,749 2,135,525

11.2 Medical malpractice - claims made 7,562,017 3,350,095 3,629,812 7,282,299

12. Earthquake 1,106,712 650,723 654,342 1,103,093

13. Group accident and health 6,396,590 1,287,550 1,453,306 6,230,834

14. Credit accident and health (group and individual) 303,723 102,577 124,045 282,255

15. Other accident and health 2,895,816 4,198,859 4,830,995 2,263,679

16. Workers' compensation 48,891,794 11,123,645 12,256,135 47,759,304

17.1 Other liability - occurrence 23,930,995 14,367,906 14,441,312 23,857,681

17.2 Other liability - claims made 15,686,110 8,073,221 8,411,351 15,605,350

18.1 Products liability - occurrence 3,022,836 1,332,186 1,370,613 2,984,409

18.2 Products liability - claims made 534,416 184,191 206,844 511,763

19.1/19.2 Private passenger auto liability 94,659,865 28,816,372 29,382,152 94,094,084

19.3/19.4 Commercial auto liability 19,844,459 9,138,088 9,408,170 19,574,377

21. Auto physical damage 71,893,712 23,583,448 23,757,210 71,719,950

22. Aircraft (all perils) 1,985,809 753,606 759,551 1,979,864

23. Fidelity 1,212,872 685,637 684,667 1,213,842

24. Surety 3,850,941 2,521,814 2,666,796 3,705,956

26. Burglary and theft 133,471 64,497 68,894 129,075

27. Boiler and machinery 1,582,976 768,372 760,447 1,590,901

28. Credit 936,151 547,270 695,643 787,778

29. International 230,365 93,307 28,161 295,511

30. Reinsurance - Nonproportional Assumed Property 3,997,895 680,192 801,889 3,876,199

31. Reinsurance - Nonproportional Assumed Liability 2,336,327 2,289,753 2,405,462 2,220,618

32. Reinsurance - Nonproportional Assumed Financial Lines 229,647 68,625 82,200 216,071

33. Aggregate write-ins for other lines of business 2,881,323 5,093,372 5,081,753 2,892,699

34. TOTALS 438,105,994 186,449,724 194,609,789 430,184,765


COMBINED PROPERTY/CASUALTY INSURANCE INDUSTRYANNUAL STATEMENT FOR THE YEAR 2005 OF THE ....................................................................................................

(Name)(000's)

Line of Business1

Direct4 5

6

2

Affiliates

3

Non-Affiliates

Net PremiumsWritten

8

UNDERWRITING AND INVESTMENT EXHIBITPART 1B - PREMIUMS WRITTEN

Business

Gross Premiums (Less Return Premiums). Including Policy and Membership Fees Written and Renewed During Year.

Affiliates Non-Affiliates

Reinsurance CededReinsurance Assumed

1+2+3-4-5From From To To

1. Fire 9,264,455 735,000 1,932,310 1,308,815 2,658,930 7,964,019

2. Allied lines 13,375,932 422,386 3,557,232 940,047 8,203,408 8,212,095

3. Farmowners multiple peril 2,413,331 86,099 148,648 141,564 245,283 2,261,230

4. Homeowners multiple peril 57,329,788 526,340 2,072,806 1,225,034 5,715,287 52,988,613

5. Commercial multiple peril 34,497,113 847,614 1,287,377 2,355,315 4,594,340 29,682,449

6. Mortgage guaranty 5,190,563 20,280 49,519 (11,633) 817,283 4,454,712

8. Ocean marine 3,387,891 355,886 601,620 453,999 942,811 2,948,587

9. Inland marine 12,647,587 394,906 433,386 2,487,261 2,737,033 8,251,584

10. Financial guaranty 3,658,375 205,298 (34,597) 334,849 489,982 3,004,245

11.1 Medical malpractice - occurrence 2,347,768 (9,888) 250,869 126,017 219,974 2,242,758

11.2 Medical malpractice - claims made 9,412,648 (33,541) 363,618 594,602 1,596,076 7,552,047

12. Earthquake 1,684,776 141,568 305,003 343,809 680,826 1,106,712

13. Group accident and health 6,373,882 770,301 1,236,047 1,157,864 825,776 6,396,590

14. Credit accident & health (group & individual 555,582 59,965 43,191 71,186 283,829 303,723

15. Other accident and health 3,610,864 53,175 258,785 353,521 673,486 2,895,816

16. Workers' compensation 55,025,637 2,421,355 2,893,313 4,561,575 6,888,074 48,890,656

17.1 Other liability - occurrence 35,180,452 1,134,536 2,973,094 8,153,887 7,206,024 23,928,172

17.2 Other liability - claims made 19,052,566 684,515 1,773,416 2,731,692 3,089,873 15,688,933

18.1 Products liability - occurrence 3,819,618 118,407 102,996 563,314 454,871 3,022,836

18.2 Products liability - claims made 660,696 72,233 15,794 99,716 114,591 534,416

19.1/19.2 Private passenger auto liability 96,814,793 941,035 3,312,369 2,209,297 4,199,038 94,659,861

19.3/19.4 Commercial auto liability 22,795,912 993,732 1,437,364 2,378,359 3,004,190 19,844,459

21. Auto physical damage 74,202,057 874,372 1,982,922 2,832,505 2,333,127 71,893,720

22. Aircraft (all perils) 2,928,706 358,217 805,864 628,214 1,478,763 1,985,809

23. Fidelity 1,348,391 27,879 87,782 97,041 154,139 1,212,872

24. Surety 4,533,368 208,791 424,533 587,414 728,337 3,850,941

26. Burglary and theft 133,979 3,245 16,416 15,035 5,135 133,471

27. Boiler and machinery 1,187,533 191,420 746,655 146,289 396,343 1,582,976

28. Credit 1,206,020 100,306 253,313 282,626 340,861 936,151

29. International 84,590 62,549 306,524 69,392 153,906 230,365

30. Rein Nonproportional Assmd Property XXXX 123,422 6,450,600 1,422,237 1,153,768 3,998,016

31. Rein Nonproportional Assmd Liability XXXX 237,503 10,100,915 7,664,933 337,078 2,336,407

32. Rein Nonproportional Assmd Financial Lines XXXX 16,156 415,738 197,297 4,949 229,647

33. Aggregate write-ins for other lines of business 4,279,488 50,266 306,746 871,323 883,853 2,881,323

34. TOTALS 489,004,362 13,195,324 46,912,166 47,394,397 63,611,245 438,106,210


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statistical compilation of annual statement … · 2018-09-04 · kansas city, mo 64108-2662 new...

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