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Page 1: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

®

Analysis of Risk Retention GroupsThird Quarter 2018

Demotech, Inc.

December 2018

www.demotech.com Volume 8 Issue 4

Page 2: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

®

Contact us today to learn how Demotech and Financial Stability Ratings® can help insurers level the playing field.

Call 800-354-7207 or visit www.Demotech.com/FSRBenefits

DRAGONFLY: 300 MILLION YEARS OLD

T-REX: EXTINCT

Financial Stability Ratings® offer the following benefits:

• Acceptance by Fannie Mae, Freddie Mac and HUD

• Eliminate Reinsurance Cut-Throughs

• Access to Stand-Alone Umbrella Insurance

• Premium Financing Available

• Errors and Omissions Insolvency Gap Coverage Available

• Much more!

Regional and Specialty insurers are often mistakenly thought of as financially unstable due to their size.

Financial Stability Ratings® look beyond the size of an insurer and evaluate solvency using a quantitative model based on insurance fundamentals.

Innovative thinking, strategic analysis, commitment, insight and on-going involvement with the insurance industry allow us to provide solutions as unique as your company.

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

Page 3: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

A review of the reported financial results of risk retention groups (RRGs) reveals insurers that continue to collectively provide specialized coverage to their insureds while remaining financially stable. Based on reported financial information,

RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses. It is important to note that ownership of RRGs is restricted to the policyholders of the RRG. This unique ownership structure required of RRGs may be a driving force in their strengthened capital position.

Balance Sheet Analysis

Since third quarter 2017, cash and invested assets (1.1 percent), total admitted assets (1.3 percent), and policyholders’ surplus (4.2 percent) all increased. Over the same time period through third quarter 2018, RRGs collectively decreased liabilities .6 percent. The increase in policyholders’ surplus represents the addition of $202.4 million while trimming some liabilities. These reported results indicate that RRGs are adequately capitalized in aggregate and able to remain solvent if faced with adverse economic conditions or increased losses. The level of policyholders’ surplus becomes increasingly important in times of difficult economic conditions by allowing an insurer to remain solvent when facing uncertain economic conditions.

Liquidity, as measured by liabilities to cash and invested assets, for third quarter 2018 was 67.3 percent. A value less than 100 percent is considered favorable as it indicates that there was more than a dollar of net liquid assets for each dollar of total liabilities.

In evaluating individual RRGs, Demotech, Inc. prefers companies to report leverage of less than

300 percent. Leverage for all RRGs combined, as measured by total liabilities to policyholders’ surplus, for third quarter 2018 was 144.2 percent. The loss and LAE reserves to policyholders’ surplus ratio for third quarter 2018 was 98 percent. The higher the ratio of loss reserves to surplus, the more an insurer’s stability is dependent on having and maintaining reserve adequacy.

Regarding RRGs collectively, the ratios pertaining to the balance sheet appear to be appropriate and conservative.

Premium Written Analysis

Since RRGs are restricted to liability coverage, they tend to insure medical providers, product manufacturers, law enforcement officials and contractors, as well as other professional industries.

RRGs collectively reported nearly $2.8 billion of direct premium written (DPW) through third quarter 2018, a slight decrease of less than 1 percent over third quarter 2017. RRGs reported nearly $1.5 billion of net premium written (NPW) through third quarter 2018, a decrease of 9.5 percent over third quarter 2017.

The DPW to policyholders’ surplus ratio for RRGs collectively through third quarter 2018 was 73.6 percent. The NPW to policyholders’ surplus ratio for RRGs through third quarter 2018 was 39.8 percent. Please note that these ratios have been adjusted to reflect projected annual DPW and NPW based on third quarter results.

An insurer’s DPW to surplus ratio is indicative of its policyholders’ surplus leverage on a direct basis, without consideration for the effect of reinsurance. An insurer’s NPW to surplus ratio is indicative of its policyholders’ surplus leverage on a net basis. An insurer relying heavily on reinsurance will have a large disparity in these two ratios.

A DPW to surplus ratio in excess of 600 percent would subject an individual RRG to greater scrutiny during

®

RRGs Continue to Exhibit Financial Stability, Report Net Income and Increased Policyholders’ Surplus in Third Quarter 2018

Douglas A Powell | Senior Financial Analyst, Demotech, Inc.

Page 4: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

the financial review process. Likewise, a NPW to surplus ratio greater than 300 percent would subject an individual RRG to greater scrutiny. In certain cases, premium to surplus ratios in excess of those listed would be deemed appropriate if the RRG had demonstrated that a contributing factor to the higher ratio is relative improvement in rate adequacy.

In regards to RRGs collectively, the ratios pertaining to premium written appear to be conservative.

Income Statement Analysis

In regards underwriting gains and losses, RRGs collectively were unprofitable through third quarter 2018 as RRGs reported an aggregate underwriting loss of $66.7 million. RRGs reported a net investment gain of $205.9 million and a net income of $132.3 million. RRGs have collectively reported a net income at each year-end since 1996.

The loss ratio for RRGs collectively, as measured by losses and loss adjustment expenses incurred to net premiums earned, through third quarter 2018 was 77.8 percent. This ratio is a measure of an insurer’s underlying profitability on its book of business.

The expense ratio, as measured by other underwriting expenses incurred to net premiums written, through third quarter 2018 was 22.3 percent. This ratio measures an insurer’s operational efficiency in underwriting its book of business.

The combined ratio, loss ratio plus expense ratio, through third quarter 2018 was 100.1 percent. This

ratio measures an insurer’s overall underwriting profitability. A combined ratio of less than 100 percent typically indicates an underwriting profit.

Regarding RRGs collectively, the ratios pertaining to income statement analysis appear to be appropriate. Moreover, these ratios have remained within a profitable range.

Conclusions Based on Quarterly Results

Despite political and economic uncertainty, RRGs remain financially stable and continue to provide specialized coverage to their insureds. The financial ratios calculated based on the reported results of RRGs

appear to be reasonable, keeping in mind that it is typical and expected that insurers’ financial ratios tend to fluctuate over time.

The results of RRGs indicate that these specialty insurers continue to exhibit financial stability. It is important to note again that while RRGs have reported net income, they have also continued to maintain adequate loss

reserves while increasing policyholders’ surplus written year over year. RRGs continue to exhibit a great deal of financial stability.

®

The reported results of RRGs indicate that these specialty insurers continue to exhibit financial stability.

Douglas Powell supports the formulation and assignment of Financial Stability Ratings® by providing analysis of statutory financial statements and business information. He also performs financial and operational and peer group analyses, as well as benchmark studies for client companies. Email your questions or comments to [email protected].

The ratios, percentages and calculations contained herein have been compiled from data considered reliable or are expressions of opinion. They are not intended to be complete, and we do not assume responsibility for the accuracy of the data prepared or provided by others. No ratio or other presentation herein constitutes or shall be considered as a recommendation to enter in a contractual relationship, is meant as an offer to sell dispose of any securities, or is a solicitation to buy the securities of any of the companies included in the listing.

ISSN 2168-7013 (online) Published December 7, 2018 COPYRIGHT©

2018 Demotech, Inc.

Special thank you to the following people for their past and current commitment:

James Cutts | Publisher, Risk Retention Reporter

Joseph Deems | Executive Director, National Risk Retention Association

Melissa-Anne Duncan | Executive Director,

Insurance Industry Charitable Foundation

Keith Enslow | Senior Program Manager, SNL Center for Financial Education

Barry Koestler | Chief Ratings Officer, Demotech, Inc.

Mechlin Moore | Communications Director,

National Risk Retention Association

Paul Osborne | Senior Consultant, Demotech, Inc.

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®

Company Information and Financial Results

Risk Retention Groups

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NAIC # COMPANY FSR

Financial Stability Ratings (FSRs) - Risk Retention Groups®

as of 12/7/2018

12252 AEGIS Healthcare RRG, Inc. A

11710 Allied Professionals Insurance Company, RRG A

12631 American Builders Insurance Company RRG, Inc. A

11598 Applied Medico-Legal Solutions RRG, Inc. A'

33677 Attorneys Insurance Mutual of the South, Inc RRG A

11825 CARE Risk Retention Group, Inc. A

11976 Centurion Medical Liability Protective RRG, Inc. A

14388 Cherokee Guarantee Company Inc., RRG A

10075 Consumer Specialties Insurance Company RRG A

11798 Continuing Care RRG, Inc. A

15893 Doctors Professional Liability RRG, Inc. A

14163 Emergency Capital Management, LLC, RRG A

16415 Graph Insurance Company, a Risk Retention Group LLC A

11832 Health Care Industry Liability Reciprocal Insurance Company, RRG A

11999 Midwest Insurance Group, Inc., a Risk Retention Group A

11806 National Assisted Living RRG, Inc. A

44130 Paratransit Insurance Company, RRG A'

11973 PCH Mutual Insurance Company, RRG A

13557 Sigma RRG, Inc. A

10754 Spirit Mountain Insurance Company RRG, Inc A

14026 Sunland Risk Retention Group, Inc. A

11958 Trinity Risk Solutions Reciprocal Insurance Company RRG A

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

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

MICHELE DURHAM (802) 264-4705 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

ADVANCED PHYSICIANS INS RRG INC12166 2700 NORTH THIRD STREET, SUITE 3050, PHOENIX, AZ 85004-4620

EDWARD LEE CALDWELL (602) 200-6900 AZPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

AEGIS HEALTHCARE RRG, INC.12252 555 FAIRMOUNT AVENUE, BALTIMORE, MD 21286

ANGELA STODDARD 410-339-7263 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 30 MAIN STREET, SUITE 330, BURLINGTON, VT 05401-8427

ANNE MARIE BUECHE (802) 658-9405 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 1010 WEST CHARLESTON BOULDEVARD LAS VEGAS, NV 89135

RICK O'BRIEN (702) 938-3175 NVPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

AGRI INSURANCE EXCHANGE RRG28380 5825 LAWTON LOOP EAST DRIVE INDIANAPOLIS, IN 46216-1064

KEVIN MANDEVILLE (317) 766-9559 INPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ALLEGIANT INS CO INC A RRG11965 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3800

ANNIE WOO (808) 585-3594 HIPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

ALLIANCE OF NONPROFITS FOR INS RRG10023 961 DORSET STREET SOUTH BURLINGTON, VT 05403-7503

CINDY L. LYFORD (802) 279-7009 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

ALLIED GUARANTY INSURANCE COMPANY13024 382 EAST 400, SOUTH, SW GARDEN COURT, SPRINGVILLE, UT 84663-1958

SID BASTIAN (801) 420-4777 NVPhoneStatement Contact Primary Line of Business Warranty Domiciled

ALLIED PREMIER INSURANCE A RRG15639 1130 WEST OLIVE AVENUE, SECOND FLOOR, BURBANK, CA 91506-2214

BRIAN JOHNSTON (215) 805-0272 CTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 1100 W. TOWN & COUNTRY RD., STE. 1400, ORANGE, CA 92868

DOUGLAS JOSEPH HAUSER 714-571-1864 AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

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

LEN T. LOGAN (877) 872-7475 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

AMERICAN ASSOC OF OTHODONTISTS RRG10232 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

DEITER T. LUDWIG (802) 864-6118 AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 5151 HAMPSTEAD HIGH STREET, SUITE 200, MONTGOMERY, AL 36116

JAYME YARROCH 334-260-7774 E ALPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

AMERICAN CAR DEALERS RRG INC.16182 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3810

ANNIE WOO (808) 585-3594 HIPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

AMERICAN CONTRACTORS INS CO RRG12300 2600 NORTH CENTRAL EXPRESSWAY, SUITE 800, RICHARDSON, TX 75080-2064

JENNIFER STEUK (972) 702-9004 TXPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

AMERICAN EXCESS INS EXCHANGE RRG10903 12707 HIGH BLUFF DRIVE, SUITE 140, SAN DIEGO, CA 92130-2097

KATHRYN MICHENER BOUCHE (802) 863-4400 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

AMERICAN FOREST CASUALTY COMPANY RRG11590 1605 MAIN STREET, SUIT 800, SARASOTA, FL 34236-5840

TERESA MARIE MATTHEWS (941) 373-1162 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

AMERICAN RISK MGMT RRG INC.15853 263 KING STREET, SUITE C, CHARLESTON, SC 29401-1420

MATTHEW G. WATSON (843) 853-0446 TNPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG11534 228 WEST MAIN STREET MISSOULA, MT 59802-4345

ANNE J. ROBINSON (406) 523-3934 MTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

A-ONE COMMERCIAL INSURANCE RISK RETENTION GROUP, INC.15597 424 CHURCH STREET, SUITE 1401, NASHVILLE, TN 37219-2392

MARY ELIZABETH GAROFALO (941) 373-1114 TNPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 2555 E. CAMELBACK RD. SUITE 700, PHOENIX, AZ 85016

LEE MILIZIA 623-427-3208 AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

ARCHITECTS & ENGINEERS INS CO RRG44148 2056 WESTINGS AVENUE, SUITE 20, NAPERVILLE, IL 60563-2495

MICHAEL T. IANNOTTI (800) 437-2342 DEPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ARCOA RISK RETENTION GROUP, INC.13177 5555 KIETZKE LANE, SUITE 100, RENO, NV 89511-2096

MICHAEL JOHN HAGGERTY (602) 263-6582 NVPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP13580 1700 EASTPOINT PARKWAY LOUISVILLE, KY 40223-4140

COLE SMITH (502) 244-1343 KYPhoneStatement Contact Primary Line of Business Boiler and Machinery Domiciled

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 263 KING STREET, SUITE C, CHARLESTON, SC 29401-1420

MATTHEW G. WATSON (843) 853-0446 SCPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION GROUP, INC.

14425 9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042

LINDA VILLANI (941) 373-1116 NVPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ATTORNEYS INSURANCE MUTUAL OF THE SOUTH, INC RRG33677 200 INVERNESS PARKWAY, BIRMINGHAM, AL 35242-4813

SANDRA BRITT MCDONALD 205-980-0009 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ATTORNEYS INSURANCE MUTUAL RRG INC22670 150 BANK STREET, SECOND FLOOR, BURLINGTON, VT 05401-4411

KAREN M. VENNER (802) 735-0113 HIPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 311 SOUTH WACKER DRIVE, SUITE 5700, CHICAGO, IL 60606-6629

KEITH RUSSELL CRAVEN (312) 697-6950 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448

GARRETT JAMES DAVENPORT (260) 486-0418 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 228 WEST MAIN STREET, SECOND FLOOR, MISSOULA, MT 59802-4345

DANIEL JOHN SEMAN (406) 541-2876 MTPhoneStatement Contact Primary Line of Business Product Liability (Occurrence) Domiciled

BAR VERMONT RISK RETENTION GROUP INC10174 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

JEFFREY TUCKER (802) 264-4581 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

BAY INSURANCE RISK RETENTION GROUP, INC.15582 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

STEPHEN E. MCCARTHY (802) 652-1569 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

BEACONHARBOR MUTUAL RISK RETENTION GROUP14487 ONE CITY CENTER PORTLAND, ME 04101-4009

BARBARA T. SINCLAIR (207) 775-2791 MEPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 100 BANK STREET, SUITE 500, BURLINGTON, VT 05401-4699

ALICIA M. HUSKES (802) 264-2062 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 9550 SOUTH EASTERN AVENUE LAS VEGAS, NV 89123-8038

MICHAEL T. ROGERS (702) 678-6868 NVPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

BROADLINE RISK RETENTION GROUP, INC.13788 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

AARON P. CIULLO (802) 864-2747 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

BTTS INSURANCE RISK RETENTION GROUP, INC.15591 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

STEPHEN E. MCCARTHY (802) 652-1569 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

C.A.R. RISK RETENTION GROUP, INC.15921 424 CHURCH STREET, SUITE 800, NASHVILLE, TN 37219-2395

DENNIS EDWARD SILVIA (440) 264-9992 TNPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

CALIFORNIA HEALTHCARE INS CO INC RRG44504 9229 SIERRA COLLEGE BOULEVARD ROSEVILLE, CA 95661-5919

JEFFREY DUECK (916) 773-3992 HIPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CALIFORNIA MEDICAL GRP INS CO RRG12180 8601 NORTH SCOTTSDALE ROAD, SUITE 300, SCOTTSDALE, AZ 85253-2738

CATHY A. JOHNSON (303) 996-5448 AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CARE RISK RETENTION GROUP, INC.11825 2233 WISCONSIN AVE, N.W., SUITE 310, WASHINGTON, DC 20007

LINDA VILLANI 941-373-1116 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

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

JENNIFER HAWKINS (802) 371-2210 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 1850 WEST WINCHESTER ROAD, SUITE 109, LIBERTYVILLE, IL 60048-5355

CHAD CURTIS SWIGERT (847) 549-8225 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CASSATT RISK RETENTION GROUP INC10808 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

JEFFREY TUCKER (802) 264-4581 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CENTRAL PA PHYSICIANS RRG INC11694 39 NORTH DUKE STREET LANCASTER, PA 17602-2842

MATTHEW G. WATSON (843) 853-0446 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 2700 N. THIRD STREET, SUITE 3050, PHOENIX, AZ

GEMMA TUANQUI 941-373-1144 AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CHEROKEE GUARANTEE COMPANY INC., RRG14388 18835 N. THOMPSON PEAK PARKWAY, SUITE 210, SCOTTSDALE, AZ 85255

LAUREN HUMPHREY 480-999-2651- AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CIRCLE STAR INS CO RRG11839 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324

RENEE LAGUE (802) 479-7803 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

CLAIM PROFESSIONALS LIAB INS CO RRG12172 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641-8702

PETER O. BULLOCK (802) 371-2219 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

CLARIAN HLTH RRG INC11992 340 WEST 10TH STREET, SUITE 3100, INDIANAPOLIS, IN 46202-3082

TONIA A. EPPS (843) 577-1034 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

CMIC RISK RETENTION GROUP13756 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641-8702

SILAS E. FARRAR (802) 371-2223 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COLLEGE LIABILITY INS CO A RECIP RRG44598 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3810

TONI S. KANEHIRA (808) 585-3584 HIPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

COLLEGE RISK RETENTION GROUP, INC.13613 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

JONATHAN P. COLBORNE (902) 429-8205 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

COLUMBIA NATIONAL RRG INC10803 463 MOUNTAIN VIEW DRIVE, SUITE 301, COLCHESTER, VT 05446-5966

JOHN H. RAYMOND (802) 864-2751 VTPhoneStatement Contact Primary Line of Business Warranty Domiciled

COMCARE PRO INS RECIPROCAL RRG11864 30 MAIN STREET, SUITE 330, BURLINGTON, VT 05401-8427

ANNE MARIE BUECHE (802) 658-9405 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

COMMERCIAL HIRECAR INSURANCE COMPANY, A RISK RETENTION GROUP15836 725 COOL SPRINGS BOULEVARD, SUITE 600, FRANKLIN, TN 37067-2702

ANNE GARLAND VISE (802) 371-2231 TNPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

COMMUNITIES OF FAITH RRG INC11807 2711 MIDDLEBURG DRIVE, SUITE 309-A, COLUMBIA, SC 29204-2475

MARY ELIZABETH GAROFALO (941) 373-1114 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COMMUNITY BLOOD CENTERS EXCH RRG13893 2600 MEIDINGER TOWER, 462 SOUTH FOURTH STREET, LOUISVILLE, KY 40202-3452

JEREMY TODD ROSENBAUM (502) 882-4459 INPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COMMUNITY CARE RISK RETENTION GROUP, INC.15798 711 TROY-SCHENECTADY ROAD, SUITE 201, LATHAM, NY 12110-2461

DAVID D. GUERINO (802) 264-2060 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

DEITER T. LUDWIG (802) 864-6118 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COMMUNITY HOSPITAL RRG11259 2551 WASHINGTON ROAD OFFICE, SUITE 810, UPPER SAINT CLAIR, PA 15241-2513

DONNA B. NORMAND (412) 212-3476 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COMPASS SPECIALTY INSURANCE RISK RETENTION GROUP, INC.15867 525 ROUTE 73 NORTH, SUITE 218, MARLTON, NJ 08053-3422

DEBRA GAGLIOTI (888) 305-8889 TNPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

CONSUMER SPECIALTIES INSURANCE COMPANY RRG10075 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641

ANITA M. PERKINS 802-371-2219 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

CONTINUING CARE RRG, INC.11798 58 EAST VIEW LANE, SUITE 2, BARRE, VT 05641-0000

STEVE BEVINS 802-479-7802 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CONTRACTORS INS CO OF NORTH AMER RRG11603 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929

STACEY GIBBS (802) 264-4588 HIPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

CONTROLLED RISK INS CO OF VT RRG10341 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

BECKI M. MINOLI (802) 264-4576 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COPIC, A RISK RETENTION GROUP14906 7351 EAST LOWRY BOULEVARD, SUITE 400, DENVER, CO 80230-6083

SHELYCE ANDERSON FOSTER (720) 858-6080 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

COUNTY HALL INSURANCE COMPANY, INC., A RISK RETENTION GROUP15947 401 NORTH TRYON STREET, 10TH FLOOR, CHARLOTTE, NC 28202-2101

DANIEL ERIC GEORGE (760) 487-7399 NCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

COVERYS RRG, INC.14160 ONE FINANCIAL CENTER BOSTON, MA 02111-2621

MICHAEL RICHARD GABREE (617) 428-9888 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CPA MUTUAL INS CO OF AMERICA RRG10164 159 BANK STREET, FOURTH FLOOR, BURLINGTON, VT 05401-4479

DAVID CARLETON TATLOCK (802) 861-3227 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

CROSSFIT RISK RETENTION GROUP, INC.13720 111 NORTH SEPULVEDA BOULEVARD, SUITE 325, MANHATTAN BEACH, CA 90266-6849

TONY JAMES SCHMIDT (808) 988-3215 MTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

CRUDEN BAY RRG INC11676 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641-8702

EMILY ROY (802) 371-2220 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 159 BANK STREET, FOURTH FLOOR, BURLINGTON, VT 05401-4479

DAVID CARLETON TATLOCK (802) 861-3227 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

DAN RISK RETENTION GROUP, INC.15928 1327 ASHLEY RIVER ROAD, SUITE 200C, CHARLESTON, SC 29407-5386

PAUL N. MACEY (802) 371-2281 SCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

DOCTORS COMPANY RISK RETENTION GROUP, A RECIPROCAL EXCHANGE14347 185 GREENWOOD ROAD NAPA, CA 94558-6270

DOUGLAS CHARLES WILL (707) 226-0100 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

DOCTORS PROFESSIONAL LIABILITY RRG, INC.15893 1605 MAIN STREET, SUITE 800, SARASOTA, FL 34236

GEMMA TUANQUI 800-226-0793 NCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

DUBOIS MEDICAL RRG11842 1090 VERMONT AVENUE, NW WASHINGTON, DC 20005-4905

BRIAN S. KLINE (814) 375-6377 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

EAGLE BUILDERS INSURANCE COMPANY RISK RETENTION GROUP, INC.16104 1605 MAIN STREET, SUITE 800, SARASOTA, FL 34236-5823

LINDA VILLANI (941) 373-1116 NCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

EASTERN DENTISTS INS CO RRG10115 159 BANK STREET, FOURTH FLOOR, BURLINGTON, VT 05401-4479

KAREN L. MAHONEY (802) 383-0419 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

ELITE TRANSPORTATION RRG INC10125 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324

ANDREW CARLTON (941) 373-1113 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

EMERGENCY CAPITAL MANAGEMENT, LLC, RRG14163 76 ST. PAUL STREET, SUITE 500, BURLINGTON, VT 05401

BRADLEY MICHAEL KLEIN 802-497-6285 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)12003 9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042

ANDREW CARLTON (941) 373-1113 NVPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

EMERGENCY PHYSICIANS INSURANCE EXCHANGE RRG (EPIX)11714 2501 PARMENTER STREET, SUITE 100B, MIDDLETON, WI 53562-2675

MICHAEL ANDREW KOLLATH (916) 772-2080 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

EVERGREEN USA RRG INC38466 10 FALCON ROAD LEWISTON, ME 04240-5833

ERIC GILCRIS (802) 264-4577 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

EXCELA RECIPROCAL RRG15337 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

MELISSA H. LAROSE (802) 864-1716 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

FIRST MEDICAL INS CO RRG11278 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

AARON P. CIULLO (802) 864-2747 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 2555 EAST CAMELBACK ROAD, SUITE 700, PHOENIX, AZ 85016-4264

STEPHANIE ANN LEFKOWSKI (602) 427-3287 AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

FRANKLIN CASUALTY INS CO RRG10842 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

DELISCA A. CHRISTIAN (802) 864-2110 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

FREDERICKSBURG PROFESSIONAL RISK EXC12016 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641-8702

SILAS E. FARRAR (802) 371-2223 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

GABLES RISK RETENTION GROUP, INC.14032 100 BANK STREET, SUITE 500, BURLINGTON, VT 05401-4699

JOSHUA D. BICKNELL (802) 264-2057 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

GEISINGER INS CORP RRG12000 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

MICHELLE MURPHY (802) 862-4400 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 1327C ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5386

JENNIFER HAWKINS (802) 371-2210 HIPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

GLOBAL HAWK INSURANCE COMPANY RRG11948 26 CORNERSTONE ROAD FAIRFAX, VT 05454-5561

STEPHEN MARK BROWN (802) 238-9624 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

GOLDEN INS CO RRG11145 18835 NORTH THOMPSON PEAK PARKWAY, SUITE 210, SCOTTSDALE, AZ 85255-6254

AARON SMITH (480) 999-2660 NCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

GERGANA N. PENCHEVA (843) 614-3143 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.13973 9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042

ANDREW CARLTON (941) 373-1113 NVPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

GRACO RRG INC11581 P.O. BOX 22556 CHARLESTON, SC 29413-2556

COURTNEY CHRISTINE FLYNN (843) 743-2682 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

GRAPH INSURANCE COMPANY, A RISK RETENTION GROUP LLC16415 961 DORSET STREET, SOUTH BURLINGTON, VT 05403

CINDY LYFORD 802-279-7009 VTPhoneStatement Contact Primary Line of Business Domiciled

GREEN HILLS INS CO RRG11941 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

JENNIFER L. PETTENGILL (802) 864-2111 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

GUARDIAN RRG INC11696 100 MAIN STREET, SUITE 500, BURLINGTON, VT 05401-8475

HOLLY WAGNER (406) 420-3050 MTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

GUTHRIE RRG12014 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

NEHA PATEL (843) 577-1361 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

HAMDEN ASSURANCE RRG, INC.13057 30 MAIN STREET, SUITE 330, BURLINGTON, VT 05401-8427

JACQUELINE MARIE COURVILL (802) 658-9405 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

HEALTH CARE CAS RRG INC12236 8725 WEST HIGGINS ROAD, SUITE 810, CHICAGO, IL 60631-2734

JOSEPH ROGER HERMAN (773) 864-8280 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

HEALTH CARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG11832 130 S. FIRST STREET, 4TH FLOOR, ANN ARBOR, MI 48104

PETER M FEENEY 734 996-2700 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

HEALTH NETWORK PROVIDERS MUT INS CO11813 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

STEVE BEVINS (802) 479-7802 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

HEALTH PROVIDERS INS RECIPROCAL RRG10080 737 BISHOP STREET, SUITE 2700, HONOLULU, HI 96813-3214

JASON L. PALMER (808) 535-0577 HIPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

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

GEOFFREY LEWIS SALMON (404) 835-0454 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

HOME CONSTRUCTION INS CO RRG11950 9950 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-0001

MARY ELIZABETH GAROFALO (941) 373-1114 NVPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

HOSPITALITY RISK RETENTION GROUP, INC.16038 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324

PAMELA LANESE (941) 373-1147 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

HOUSING AUTHORITY RRG INC26797 189 COMMERCE COURT CHESHIRE, CT 06410-1253

NICOLE M. JORDAN (203) 272-8220 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

HPIC RISK RETENTION GROUP15866 1327 ASHLEY RIVER ROAD, BUILDING C, SUITE 200, CHARLESTON, SC 29407-5384

GEOFFREY LEWIS SALMON (404) 835-0454 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 1401 H STREET, NW, SUITE 1000, WASHINGTON, DC 20005-2031

MICHAEL ANTHONY HEISER (202) 326-5360 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

INDIANA HEALTHCARE RECIP RRG11692 27 MAIN STREET, FIRST FLOOR, BURLINGTON, VT 05401-8407

SANDRA D. GRIFFITH (802) 227-7730 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

INNOVATIVE PHYSICIAN SOLUTIONS RRG12320 100 BANK STREET, SUITE 500, BURLINGTON, VT 05401-4699

AMANDA R. WESCOTT (802) 658-9466 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

IQS INSURANCE RISK RETENTION GROUP, INC.15080 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

ANDREW HAMME (802) 264-4592 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

IRONSHORE RISK RETENTION GROUP, INC.14375 1444 I STREET, NW, SUITE 950, WASHINGTON, DC 20005-6573

MELISSA ANNE HANCOCK (202) 802-1439 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

J.M. WOODWORTH RRG, INC.12594 1100 WEST TOWN & COUNTRY ROAD, SUITE 1400, ORANGE, CA 92868-4655

DOUGLAS JOSEPH HAUSER (714) 571-1864 NVPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 201 EAST JEFFERSON STREET, SUITE 201B, LOUISVILLE, KY 40202-1286

AMY S. DUNN (802) 864-1717 KYPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

KENTUCKY HOSPITAL INS CO RRG11939 2501 NELSON MILLER PARKWAY LOUISVILLE, KY 40223-2221

APRIL NICOLE SMITH (502) 992-4329 KYPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

LAMMICO RRG, INC.14444 ONE GALLERIA BOULEVARD, SUITE 700, METAIRIE, LA 70001-7510

KRISTI ANN FALLON VERRETTE (504) 841-5206 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042

ANDREW CARLTON (941) 373-1113 NVPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

LONE STAR ALLIANCE, INC., A RISK RETENTION GROUP15211 PLAZA V, 901 SOUTH MOPAC EXPRESSWAY, SUITE 500, AUSTIN, TX 78746-5776

BRETT PAUL LAROCK (512) 425-5800 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

LVHN RRG11684 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

MANNU LUO (843) 577-1035 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 1925 LOVERING AVENUE WILMINGTON, DE 19806-2157

COURTNEY CHRISTINE FLYNN (843) 743-2682 DEPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

MARATHON FIN INS CO INC RRG11117 1476 NORTH GREEN MOUNT ROAD O'FALLON, IL 62269-3465

CHRISTINA GIBSON (800) 205-8988 DEPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

MCIC VERMONT INC RRG10697 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

DIANE M. HANSON (802) 652-1571 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MD RISK RETENTION GROUP, INC.12355 805 MADISON STREET, SUITE 901, SEATTLE, WA 98104-1172

DAWN M. DINARDO (843) 225-7031 MTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MED MAL RISK RETENTION GROUP, INC.14446 522 BRANDIES CIRCLE, SUITE B4, MURFREESBORO, TN 37128-7687

JENNIFER MERANDA (615) 610-7010 TNPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MEDAMERICA MUTUAL RRG INC26257 3000 OAK ROAD, SUITE 600, WALNUT CREEK, CA 94597-2071

CHRISTOPHER PAUL MERTES (925) 949-0101 HIPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MEDCHOICE RISK RETENTION GROUP, INC.15738 40 JUNE WAY MILTON, VT 05468-3529

JONATHAN J. MCKENZIE (855) 326-3408 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MEDPRO RRG RISK RETENTION GROUP13589 1050 K STREET, NW, SUITE 400, WASHINGTON, DC 20001-4448

GARRETT JAMES DAVENPORT (260) 486-0418 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MENTAL HEALTH RISK RETENTION GROUP44237 MORRIS CORPORATE CENTER IV, 389 INTERPACE PARKWAY, FOURTH FLOOR, PARSIPPANY, NJ 07054-1132

RICHARD WELLS (802) 863-2398 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

MICA RISK RETENTION GROUP, INC.15527 2602 EAST THOMAS ROAD PHOENIX, AZ 85016-8202

MATTHEW G. WALKER (602) 808-2171 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401

JOCELYN LYMAN 802-391-3080 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

MLM RISK RETENTION GROUP, INC.16026 333 SOUTH SEVENTH STREET, SUITE 2200, MINNEAPOLIS, MN 55402-2451

SCOTT A. TURNER (612) 341-4530 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

MMIC RRG, INC.14062 7701 FRANCE AVENUE, SOUTH, SUITE 500, MINNEAPOLIS, MN 55435-5288

JON GARY BEHNKEN (952) 838-6766 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MONTAUK RISK RETENTION GROUP, INC.16218 100 BANK STREET BURLINGTON, VT 05401

LISA M. KANE (802) 864-2120 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

PETER A. JOY (802) 862-4400 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

MOUNTAIN LAUREL RRG INC11547 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

JOAN M. HUSSEY (802) 864-2744 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 100 BANK STREET, SUITE 500, BURLINGTON, VT 05401-4699

JARED PALARDY (802) 264-2072 MTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

NASW RISK RETENTION GROUP, INC.14366 1401 EYE STREET, NW, SUITE 600, WASHINGTON, DC 20005-2225

CATHY A. JOHNSON (303) 996-5448 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

NATIONAL ASSISTED LIVING RRG, INC.11806 3740 DAVINCI COURT, STE. 130, NORCROSS, GA 30092

ROSE PATRICK 770-255-4913 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

NATIONAL BUILDERS & CONTRACTORS INS12235 9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042

JUTHAMAS LEE EVERETT (800) 226-0793 NVPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

NATIONAL CATHOLIC RRG10083 801 WARRENVILLE ROAD, SUITE 175, LISLE, IL 60532-4334

MARY MARIO RICHARDS (802) 391-3083 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

NATIONAL GUARDIAN RISK RETENTION GROUP36072 737 BISHOP STREET, SUITE 2100, HONOLULU, HI 96813-3280

GERGANA N. PENCHEVA (843) 614-3143 HIPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

NATIONAL HOME INSURANCE CO RRG44016 3025 SOUTH PARKER ROAD, SUITE 711, AURORA, CO 80014-2925

HUGH B. MCCREERY (303) 306-0002 COPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 610 WEST SAINT GEORGES AVENUE, SUITE 618, LINDEN, NJ 07036-5646

NICOLE S. HUBLER (802) 371-2249 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

GERGANA N. PENCHEVA (843) 614-3143 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 2233 WISCONSIN AVENUE, NW, SUITE 310, WASHINGTON, DC 20007-4104

RENEE LAGUE (802) 479-7803 DCPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

NATIONAL TRANSPORTATION INSURANCE COMPANY RISK RETENTION GROUP, LLC16011 1620 PROVIDENCE ROAD TOWSON, MD 21286-1525

MARY CLAIRE GOFF (877) 587-1763 NCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

NCMIC RISK RETENTION GROUP, INC.14130 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476

MARY MARIO RICHARDS (802) 391-3083 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP13792 13900 EAST HARVARD AVENUE AURORA, CO 80014-2324

TINA NGUYEN (720) 747-6119 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

NEW STAR RISK RETENTION GROUP, INC.12532 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

TONIA A. EPPS (843) 577-1034 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 1001 PENNSYLVANIA AVENUE, NW, SUITE 400 SOUTH, WASHINGTON, DC 20004-2505

LINDA VILLANI (941) 373-1116 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

OASIS RECIPROCAL RISK RETENTION GROUP13644 27 MAIN STREET, FIRST FLOOR, BURLINGTON, VT 05401-8407

SANDRA D. GRIFFITH (802) 227-7730 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

OMS NATL INS CO RRG44121 6133 NORTH RIVER ROAD, SUITE 650, ROSEMONT, IL 60018-5173

KATHERINE ANN EHMANN (847) 653-8730 ILPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

ONYX INSURANCE COMPANY, INC., A RISK RETENTION GROUP15208 575 SOUTH SALIMAN ROAD CARSON CITY, NV 89701-5000

RENEA LOUIE (775) 887-2480 TNPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

OOIDA RISK RETENTION GROUP INC10353 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324

STEVE BEVINS (802) 479-7802 VTPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

OPHTHALMIC MUTUAL INS CO RRG44105 655 BEACH STREET SAN FRANCISCO, CA 94109-1336

LES J. SCACCALOSI (415) 202-4618 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

ORANGE COUNTY MEDICAL RECIP INS RRG12183 8601 NORTH SCOTTSDALE ROAD, SUITE 300, SCOTTSDALE, AZ 85253-2738

MARY ELIZABETH GAROFALO (941) 373-1114 AZPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION GROUP)14260 3535 PIEDMONT ROAD, BUILDING 14, SUITE 1000, ATLANTA, GA 30305-1518

CINDY L. LYFORD (802) 279-7009 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

P&S INSURANCE RISK RETENTION GROUP, INC.15583 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492

MICHAEL JOHN COULTER (843) 614-3135 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

PACE RRG INC11575 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

GARY P. O'HARE (802) 652-1568 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PALLADIUM RISK RETENTION GROUP, INC.15279 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

GARY P. O'HARE (802) 652-1568 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PARATRANSIT INSURANCE COMPANY, RRG44130 775 RIDGE LAKE BOULEVARD, SUITE 105, MEMPHIS, TN 38120

DANI MCMAHON 802-371-2211 TNPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

PCH MUTUAL INSURANCE COMPANY, RRG11973 1605 MAIN STREET, SUITE 800, SARASOTA, FL 34236

TERESA MARIE MATTHEWS 941-955-0793 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

PEACE CHURCH RRG INC11846 148 COLLEGE STREET, SUITE 204, BURLINGTON, VT 05401-8476

MEGAN E. OGDEN (843) 225-7168 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PELICAN INS RRG11587 30 MAIN STREET, SUITE 330, BURLINGTON, VT 05401-8427

STACEY BEAUDOIN (802) 658-9405 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PHOEBE RECIPROCAL RRG12004 263 KING STREET, SUITE C, CHARLESTON, SC 29401-1420

MATTHEW G. WATSON (843) 853-0446 SCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 LAKEVIEW CENTER, 2660 EASTCHASE LANE, SUITE 300, MONTGOMERY, AL 36117-7024

JOHN STEPHEN MALONEY (631) 617-3990 ALPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 18835 NORTH THOMPSON PEAK PARKWAY, SUITE 210, SCOTTSDALE, AZ 85255-6254

NANCY VELASQUEZ (303) 625-2909 NVPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

TONIA A. EPPS (843) 577-1034 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

STACEY GIBBS (802) 264-4588 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PHYSICIANS REIMBURSEMENT RRG10934 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641-8702

EMILY ROY (802) 371-2220 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

PHYSICIANS SPECIALTY LTD RRG11513 4535 DRESSLER ROAD, NW CANTON, OH 44718-2545

LEN T. LOGAN (877) 872-7475 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 C/O WILLIS TOWERS WATSON, 737 BISHOP STREET, SUITE 2700, HONOLULU, HI 96813-3214

JASON L. PALMER (808) 535-0577 HIPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

MARCY WATERFALL (802) 864-6269 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

PLATINUM TRANSPORT INSURANCE RISK RETENTION GROUP, INC.15796 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3800

ANNIE WOO (808) 585-3594 HIPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

PONCE DE LEON LTC RRG, INC.11809 1100 W. TOWN & COUNTRY RD. SUITE 1400, ORANGE, CA 92868

DOUGLAS JOSEPH HAUSER 714-571-1864 FLPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 1620 PROVIDENCE ROAD TOWSON, MD 21286-1525

MARY CLAIRE GOFF (877) 587-1763 MTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

PREFERRED PHYSICIANS MEDICAL RRG44083 11880 COLLEGE BOULEVARD, SUITE 300, OVERLAND PARK, KS 66210-2141

DEANNA RENEE OLSON (913) 262-2585 MOPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PREFERRED PROFESSIONAL RRG14919 11605 MIRACLE HILLS DRIVE, SUITE 200, OMAHA, NE 68154-4467

KAREN ANNETTE RILEY (402) 392-1566 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PROASSURANCE AMERICAN MUTUAL, A RISK RETENTION GROUP15647 100 BROOKWOOD PLACE BIRMINGHAM, AL 35209-6811

ELAINE MARIE SPARKS (615) 301-1445 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PROBUILDERS SPECIALTY INS CO RRG11671 3025 SOUTH PARKER ROAD, SUITE 711, AURORA, CO 80014-2925

HUGH B. MCCREERY (303) 306-0002 DCPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)14461 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929

DUSTIN BLASIUS (808) 540-4318 HIPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 100 BANK STREET BURLINGTON, VT 05401-4697

MICHAEL A. CZAPLICKE (802) 864-2109 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PROFESSIONALS RISK RETENTION GROUP, INC.13067 108 CRESTVIEW DRIVE, SUITE A, BIGFORK, MT 59911-3557

PAUL A. FROMENT (406) 282-0179 MTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PROSPECT MEDICAL HOLDINGS RISK RETENTION GROUP, INC. IC15990 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

KIMBERLY FRASCA (802) 264-3538 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

PUBLIC UTILITY MUTUAL INSURANCE COMPANY, RRG11350 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

MARCY WATERFALL (802) 864-6269 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

RECOVER INSURANCE COMPANY RISK RETENTION GROUP, INC.16155 745 FORT STREET, SUITE 1100, HONOLULU, HI 96813-3810

ANNIE WOO (808) 585-3594 HIPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

RECREATION RISK RETENTION GROUP, INC.15905 159 BANK STREET, FOURTH FLOOR, BURLINGTON, VT 05401-4479

KAREN L. MAHONEY (802) 383-0419 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

RED CLAY RISK RETENTION GROUP, INC.13078 701 EAST BAY STREET, SUITE 514, CHARLESTON, SC 29403-5095

LAURA ROEMER RODRIGO (843) 884-5902 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

RED ROCK RISK RETENTION GROUP, INC.13736 2555 EAST CAMELBACK ROAD, SUITE 700, PHOENIX, AZ 85016-4264

LEE M. MILIZIA (623) 427-3208 AZPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

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

ROBERT G. MEETZE (843) 573-4676 SCPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

RESTORATION RISK RETENTION GROUP, INC.12209 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

MATHEW ADDIS ROBINSON (802) 652-1556 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

ROMULUS INSURANCE RISK RETENTION GROUP, INC.15744 1327 ASHLEY RIVER ROAD, SUITE 200C, CHARLESTON, SC 29407-5386

JENNIFER HAWKINS (802) 371-2210 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

SAGE RISK RETENTION GROUP, INC.15631 3651 LINDELL ROAD, SUITE D1152, LAS VEGAS, NV 89103-1254

JONATHAN J. MCKENZIE (855) 326-3408 NVPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

SAINT LUKE'S HLTH SYSTEM RRG11712 1327 ASHLEY RIVER ROAD, SUITE 200, CHARLESTON, SC 29407-5384

ASHA M. CHARLES (802) 371-2283 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

SAMARITAN RISK RETENTION GROUP, INC.12511 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 3651 LINDELL ROAD, SUITE D1152, LAS VEGAS, NV 89103-1254

JONATHAN J. MCKENZIE (855) 326-3408 NVPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

SELECT MD RRG14136 108 CRESTVIEW DRIVE, SUITE A, BIGFORK, MT 59911-3557

PAUL A. FROMENT (406) 282-0179 MTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

SENIORSFIRST RISK RETENTION GROUP, INC.16088 5630 UNIVERSITY PARKWAY WINSTON-SALEM, NC 27105-1312

ANDREW CARLTON (941) 373-1113 NCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

SIGMA RRG, INC.13557 C/O AON RISK SERVICES, INC., 1120 20TH ST., N.W.,, WASHINGTON, DC 20036

EMI SWAIM 202-862-5339 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

EMI SWAIM (202) 862-5339 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

SPIRIT COMMERCIAL AUTO RISK RETENTION GROUP14207 9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042

TERESA MARIE MATTHEWS (941) 373-1162 NVPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

SPIRIT MOUNTAIN INSURANCE COMPANY RRG, INC10754 2233 WISCONSIN AVE., N.W., SUITE 310, WASHINGTON, DC 20007

JUTHAMAS LEE EVERETT 800-226-0793 DCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ST CHARLES INS CO RRG11114 38 BROAD STREET, SUITE 200, CHARLESTON, SC 29401-3042

JEREMY I. ELSBERRY (602) 200-6900 SCPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

ST LUKES HEALTH NETWORK INS CO RRG11688 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

KYLE ADAM METAYER (802) 264-4710 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

STATES SELF-INSURERS RRG44075 222 SOUTH NINTH STREET, SUITE 2700, MINNEAPOLIS, MN 55402-3332

LYNN MAJIWA (612) 766-3000 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

STICO MUT INS CO RRG10476 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

BECKI M. MINOLI (802) 264-4576 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

ELIZABETH J. FORNEY (843) 614-3140 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

SUNLAND RISK RETENTION GROUP, INC.14026 14362 N FRANK LLOYD WRIGHT BLVD., STE 1000, SCOTTSDALE, AZ 85260

CHARLA M SMYSER 800-800-4324- TNPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

TERRA INS CO RRG10113 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641-8702

DANA E. WILLIAMS (802) 371-2216 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

TERRAFIRMA RISK RETENTION GROUP LLC14395 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

MARCY WATERFALL (802) 864-6269 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

THE HEALTHCARE UNDERWRITING CO RRG10152 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

MARCY WATERFALL (802) 864-6269 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

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

WAI-HANG FLORA CHAN (972) 331-1000 SCPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

TITLE INDUSTRY ASSURANCE CO RRG10084 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

KIMBERLY FRASCA (802) 264-3538 VTPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

TOWER HEALTH RECIPROCAL RISK RETENTION GROUP16224 151 MEETING STREET, SUITE 301, CHARLESTON, SC 29401-2238

MANNU LUO (843) 577-1035 SCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

TRANSPORT RISK SOLUTIONS RISK RETENTION GROUP, INC.16025 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

WILL OVENDEN (802) 264-3362 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

TRANSPORTATION INSURANCE SERVICES RISK RETENTION GROUP, INC.15767 146 FAIRCHILD STREET, SUITE 135, CHARLESTON, SC 29492-8231

WILL OVENDEN (802) 264-3362 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

TRINITY RISK SOLUTIONS RECIPROCAL INSURANCE COMPANY RRG11958 2233 WISCONSIN AVENUE, N.W., SUITE 310, WASHINGTON, DC 20007

STEVE BEVINS 802-479-7802 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

UC HEALTH, RRG A RECIPROCAL RISK RETENTION GROUP16015 100 BANK STREET, SUITE 500, BURLINGTON, VT 05401-4699

ASHLEY A. LAMELL (802) 264-2087 DCPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

UNITED CENTRAL PA RRG11548 76 SAINT PAUL STREET, SUITE 500, BURLINGTON, VT 05401-4477

RONDA LYNN DEVINO (802) 264-4593 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

UNITED EDUCATORS INS RRG INC10020 7700 WISCONSIN AVENUE, SUITE 500, BETHESDA, MD 20814

KAREN LEE VERDON (301) 215-6423 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

UNITED HOME INSURANCE CO A RRG10712 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

JOHN H. RAYMOND (802) 864-2751 VTPhoneStatement Contact Primary Line of Business Warranty Domiciled

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 9550 SOUTH EASTERN AVENUE, SUITE 253, LAS VEGAS, NV 89123-8042

ANDREW CARLTON (941) 373-1113 NVPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

URGENT MD RISK RETENTION GROUP, INC.15908 58 EAST VIEW LANE, SUITE TWO, BARRE, VT 05641-5324

ANDREW CARLTON (941) 373-1113 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Occurrence) Domiciled

UV INSURANCE RISK RETENTION GROUP, INC.13988 201 MERCHANT STREET, SUITE 2400, HONOLULU, HI 96813-2929

STEPHEN CHONG (808) 540-4323 HIPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

Analysis of Risk Retention Groups

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Company NameNAIC Address

Risk Retention Groups - Listing by Company Name

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 2007 POOLE DRIVE HUNTSVILLE, AL 35810-3891

SUSAN MARIE URIE (843) 640-3170 OKPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

VELOCITY INSURANCE COMPANY, A RISK RETENTION GROUP15956 1327 ASHLEY RIVER ROAD, SUITE 200C, CHARLESTON, SC 29407-5386

KIM CONNELLY BLOOMER (843) 437-6273 SCPhoneStatement Contact Primary Line of Business Commercial Auto Liability Domiciled

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 108 CRESTVIEW DRIVE, SUITE A, BIGFORK, MT 59911-3557

PAUL A. FROMENT (406) 282-0179 MTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

WELLSPAN RRG11682 100 BANK STREET, SUITE 610, BURLINGTON, VT 05401-4946

DEITER T. LUDWIG (802) 864-6118 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

WESTERN CATHOLIC INSURANCE COMPANY RRG14122 140 KENNEDY DRIVE SOUTH BURLINGTON, VT 05403-6710

TRICIA LYNN ALGER (802) 922-9456 VTPhoneStatement Contact Primary Line of Business Other Liability (Occurrence) Domiciled

WESTERN PACIFIC MUT INS CO RRG40940 9265 MADRAS COURT LITTLETON, CO 80130-4444

SHERLYN WILKINSON FARRELL (303) 263-0311 COPhoneStatement Contact Primary Line of Business Other Liability (Claims-made) Domiciled

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 2418 AIRPORT ROAD, SUITE 2A, BARRE, VT 05641-8702

SILAS E. FARRAR (802) 371-2223 VTPhoneStatement Contact Primary Line of Business Medical Professional Liability (Claims-made) Domiciled

Analysis of Risk Retention Groups

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COMPANYNAICCash & Invested

AssetsReinsurance Recoverables

Risk Retention Groups - Selected Statutory Balance Sheet and Schedule P Data

Other Assets Total AssetsLoss & LAE

ReservesUnearned

Premium Reserve Other Liabilities Total LiabilitiesPolicyholders'

Surplus

Prior Year-End Loss LAE Reserve Developed

(Savings)/Deficiency (000s)

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 $4,733,963 $0 $4,892,430$158,467 $1,634,304 $308,675 $2,270,240$327,261 $2,622,190 ($76)

ADVANCED PHYSICIANS INS RRG INC12166 $1,428,835 $0 $1,531,985$103,150 $0 $49,853 $82,822$32,969 $1,449,163 ($17)

AEGIS HEALTHCARE RRG, INC.12252 $2,110,201 $120,261 $5,643,041$3,412,579 $2,016,007 $287,822 $2,832,514$528,685 $2,810,527 ($205)

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 $6,923,290 $0 $7,821,516$898,226 $754,866 $92,053 $1,814,832$967,913 $6,006,684 $1

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 $0 $0 $0$0 $0 $0 $0$0 $0 $0

AGRI INSURANCE EXCHANGE RRG28380 $19,796,987 $0 $19,869,270$72,283 $2,522,000 $234,361 $3,250,901$494,540 $16,618,369 ($198)

ALLEGIANT INS CO INC A RRG11965 $29,758,875 $3,752,640 $35,339,538$1,828,023 $10,745,683 $0 $18,739,946$7,994,263 $16,599,592 $772

ALLIANCE OF NONPROFITS FOR INS RRG10023 $93,440,689 $0 $113,336,500$19,895,811 $53,709,945 $18,893,204 $75,370,320$2,767,171 $37,966,180 $423

ALLIED GUARANTY INSURANCE COMPANY13024 $4,704,954 $0 $13,284,984$8,580,030 $158,521 $7,282,948 $9,379,881$1,938,412 $3,905,103 ($43)

ALLIED PREMIER INSURANCE A RRG15639 $0 $0 $0$0 $0 $0 $0$0 $0 $0

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 $41,861,469 $4,449,657 $48,484,091$2,172,965 $19,538,046 $5,512,252 $27,238,742$2,188,444 $21,245,349 $645

ALLIED SERVICES RISK RETENTION GROUP12013 $6,252,884 $0 $6,292,647$39,763 $1,613,745 $782,351 $2,585,553$189,457 $3,707,094 $23

AMERICAN ASSOC OF OTHODONTISTS RRG10232 $48,087,774 $0 $49,264,544$1,176,770 $24,995,949 $3,956,430 $32,165,430$3,213,051 $17,099,114 $683

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 $1,369,814 $0 $2,997,068$1,627,254 $687,114 $1,514,518 $1,962,067($239,565) $1,035,001 ($1)

AMERICAN CAR DEALERS RRG INC.16182 $0 $0 $0$0 $0 $0 $0$0 $0 $0

AMERICAN CONTRACTORS INS CO RRG12300 $11,566,290 $0 $38,990,415$27,424,125 $0 $0 $28,344,819$28,344,819 $10,645,596 $0

AMERICAN EXCESS INS EXCHANGE RRG10903 $266,542,605 $0 $271,336,622$4,794,017 $115,054,688 $13,098,835 $130,549,233$2,395,710 $140,787,389 $10,560

AMERICAN FOREST CASUALTY COMPANY RRG11590 $9,098,906 $0 $9,908,564$809,658 $3,337,089 $1,288,627 $5,252,131$626,415 $4,656,433 ($208)

AMERICAN RISK MGMT RRG INC.15853 $3,424,213 $0 $4,311,963$887,750 $1,893,755 $591,981 $2,702,499$216,763 $1,609,464 $46

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG

11534 $30,077,329 $0 $43,739,929$13,662,600 $27,019,792 $5,926,041 $37,185,797$4,239,964 $6,554,132 ($2,289)

A-ONE COMMERCIAL INSURANCE RISK RETENTION GROUP, INC.15597 $22,648,258 $434,577 $29,942,876$6,860,041 $15,267,860 $8,755,772 $24,894,404$870,772 $5,048,472 $1,139

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 $114,836,959 $5,762,268 $152,475,388$31,876,161 $70,277,691 $24,710,179 $105,267,340$10,279,470 $47,208,048 $0

ARCHITECTS & ENGINEERS INS CO RRG44148 $14,102,802 $0 $21,021,803$6,919,001 $3,848,330 $1,810,800 $10,057,819$4,398,689 $10,963,984 ($366)

ARCOA RISK RETENTION GROUP, INC.13177 $21,063,853 $0 $22,231,477$1,167,624 $12,439,172 $0 $13,198,575$759,403 $9,032,902 ($115)

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP

13580 $4,071,502 $0 $4,825,997$754,495 $150,000 $675,820 $1,271,876$446,056 $3,554,121 $0

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 $901,556 $0 $917,981$16,425 $34,209 $0 $37,959$3,750 $880,022 $0

ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION GROUP, INC.

14425 $1,183,238 $0 $2,488,581$1,305,343 $80,179 $0 $1,288,331$1,208,152 $1,200,250 $0

ATTORNEYS INSURANCE MUTUAL OF THE SOUTH, INC RRG33677 $11,335,818 $0 $11,503,735$167,917 $2,759,475 $1,404,463 $6,653,592$2,489,654 $4,850,143 ($30)

ATTORNEYS INSURANCE MUTUAL RRG INC22670 $17,288,277 $0 $17,542,254$253,977 $5,905,546 $2,338,615 $9,025,564$781,403 $8,516,690 ($97)

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 $1,996,398,307 $0 $2,006,631,354$10,233,047 $922,303,585 $49,772,966 $1,222,125,407$250,048,856 $784,505,947 ($41,302)

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 $1,918,700 $0 $3,723,134$1,804,434 $162,437 $78,893 $2,759,752$2,518,422 $963,382 ($4)

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

BAR VERMONT RISK RETENTION GROUP INC10174 $25,580,218 $0 $29,668,284$4,088,066 $3,932,369 $0 $7,199,255$3,266,886 $22,469,029 $87

BAY INSURANCE RISK RETENTION GROUP, INC.15582 $399,448 $0 $978,421$578,973 $0 $0 $219,926$219,926 $758,495 $0

BEACONHARBOR MUTUAL RISK RETENTION GROUP14487 $49,595 $0 $1,050,643$1,001,048 $0 $220 $18,655$18,435 $1,031,988 $0

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 $30,741,772 $0 $50,574,688$19,832,916 $36,307,683 $3,141,549 $40,785,156$1,335,924 $9,789,532 $447

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 $3,426,051 $0 $3,746,430$320,379 $247,477 $1,287,292 $1,597,290$62,521 $2,149,140 ($72)

BROADLINE RISK RETENTION GROUP, INC.13788 $85,665,724 $0 $100,891,495$15,225,771 $58,827,153 $14,728,398 $74,125,613$570,062 $26,765,882 $356

BTTS INSURANCE RISK RETENTION GROUP, INC.15591 $0 $0 $0$0 $0 $0 $0$0 $0 $0

C.A.R. RISK RETENTION GROUP, INC.15921 $409,502 $0 $1,862,935$1,453,433 $565,436 $0 $602,424$36,988 $1,260,512 $19

CALIFORNIA HEALTHCARE INS CO INC RRG44504 $115,089,730 $0 $127,138,797$12,049,067 $53,377,083 $6,602,691 $68,264,209$8,284,435 $58,874,588 ($317)

CALIFORNIA MEDICAL GRP INS CO RRG12180 $15,903,245 $0 $19,321,713$3,418,468 $12,041,862 $3,107,015 $15,207,642$58,765 $4,114,071 $30

Analysis of Risk Retention Groups

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COMPANYNAICCash & Invested

AssetsReinsurance Recoverables

Risk Retention Groups - Selected Statutory Balance Sheet and Schedule P Data

Other Assets Total AssetsLoss & LAE

ReservesUnearned

Premium Reserve Other Liabilities Total LiabilitiesPolicyholders'

Surplus

Prior Year-End Loss LAE Reserve Developed

(Savings)/Deficiency (000s)

CARE RISK RETENTION GROUP, INC.11825 $14,653,496 $296,761 $21,949,575$6,999,318 $13,117,261 $3,222,027 $17,175,967$836,679 $4,773,608 $347

CAREGIVERS UNITED LIAB INS CO RRG11544 $42,598,662 $0 $44,955,283$2,356,621 $14,079,449 $1,988,936 $17,033,422$965,037 $27,921,859 ($1,250)

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 $86,747,853 $0 $97,399,281$10,651,428 $18,149,339 $2,824,229 $41,135,612$20,162,044 $56,263,667 $0

CASSATT RISK RETENTION GROUP INC10808 $5,566,963 $0 $19,762,767$14,195,804 $88,068 $75,000 $16,087,371$15,924,303 $3,675,396 $8

CENTRAL PA PHYSICIANS RRG INC11694 $39,360,241 $0 $42,783,125$3,422,884 $16,421,262 $5,427,999 $22,877,973$1,028,712 $19,905,152 $3,303

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 $16,342,272 $0 $20,168,958$3,826,686 $5,336,940 $3,694,455 $9,255,786$224,391 $10,913,172 $1,685

CHEROKEE GUARANTEE COMPANY INC., RRG14388 $24,087,809 $2,553,199 $27,209,330$568,322 $19,749,949 $2,084,154 $22,280,485$446,382 $4,928,845 ($1)

CIRCLE STAR INS CO RRG11839 $3,354,163 $0 $6,005,740$2,651,577 $715,567 $117,027 $3,615,936$2,783,342 $2,389,804 $0

CLAIM PROFESSIONALS LIAB INS CO RRG12172 $3,998,901 $0 $5,336,996$1,338,095 $855,196 $292,284 $2,501,017$1,353,537 $2,835,979 $108

CLARIAN HLTH RRG INC11992 $4,959,585 $0 $7,979,103$3,019,518 $0 $0 $5,171,861$5,171,861 $2,807,242 $481

CMIC RISK RETENTION GROUP13756 $4,425,958 $0 $5,651,966$1,226,008 $1,564,319 $874,515 $3,388,716$949,882 $2,263,250 ($61)

COLLEGE LIABILITY INS CO A RECIP RRG44598 $17,800,309 $0 $17,973,825$173,516 $6,257,826 $3,698,569 $10,013,024$56,629 $7,960,801 $284

COLLEGE RISK RETENTION GROUP, INC.13613 $24,443,417 $0 $33,329,633$8,886,216 $12,093,327 $5,282,029 $22,506,510$5,131,154 $10,823,123 ($205)

COLUMBIA NATIONAL RRG INC10803 $1,795,956 $0 $1,858,030$62,074 $0 $495,742 $707,654$211,912 $1,150,376 $0

COMCARE PRO INS RECIPROCAL RRG11864 $3,631,387 $6 $5,845,350$2,213,957 $1,700,000 $2,340,055 $4,109,256$69,201 $1,736,094 $2,034

COMMERCIAL HIRECAR INSURANCE COMPANY, A RISK RETENTION GROUP

15836 $0 $0 $0$0 $0 $0 $0$0 $0 $0

COMMUNITIES OF FAITH RRG INC11807 $13,531,328 $0 $14,217,441$686,113 $1,326,196 $269,339 $1,662,901$67,366 $12,554,540 ($1)

COMMUNITY BLOOD CENTERS EXCH RRG13893 $16,981,891 $0 $17,909,484$927,593 $1,775,825 $852,637 $3,275,869$647,407 $14,633,615 ($167)

COMMUNITY CARE RISK RETENTION GROUP, INC.15798 $7,433,739 $0 $11,716,540$4,282,801 $5,452,665 $2,238,855 $9,351,397$1,659,877 $2,365,143 ($870)

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 $31,312,008 $0 $34,439,205$3,127,197 $16,975,332 $0 $24,347,943$7,372,611 $10,091,261 $108

COMMUNITY HOSPITAL RRG11259 $243,150,657 $0 $252,651,070$9,500,413 $99,152,994 $4,426,596 $114,123,560$10,543,970 $138,527,511 ($2,820)

COMPASS SPECIALTY INSURANCE RISK RETENTION GROUP, INC.15867 $6,187,147 $0 $7,376,007$1,188,860 $2,290,803 $2,071,234 $4,806,579$444,542 $2,569,428 $176

CONSUMER SPECIALTIES INSURANCE COMPANY RRG10075 $3,720,593 ($21,562) $3,843,292$144,261 $1,549,680 $149,227 $1,731,116$32,209 $2,112,176 ($53)

CONTINUING CARE RRG, INC.11798 $2,303,434 $1,127,759 $5,411,805$1,980,612 $1,770,369 $919,238 $4,161,889$1,472,282 $1,249,916 ($2,983)

CONTRACTORS INS CO OF NORTH AMER RRG11603 $29,606,355 $0 $38,704,963$9,098,608 $14,716,405 $265,075 $18,760,616$3,779,136 $19,944,346 $1,124

CONTROLLED RISK INS CO OF VT RRG10341 $70,437,279 $0 $71,992,590$1,555,311 $18,051,357 $6,337,847 $30,150,867$5,761,663 $41,841,723 ($1)

COPIC, A RISK RETENTION GROUP14906 $910,511 $0 $1,176,057$265,546 $16,764 $18,829 $459,729$424,136 $716,328 $0

COUNTY HALL INSURANCE COMPANY, INC., A RISK RETENTION GROUP15947 $22,983,331 $0 $49,249,478$26,266,147 $10,686,715 $21,214,072 $34,764,861$2,864,074 $14,484,617 $0

COVERYS RRG, INC.14160 $27,111,897 $0 $35,125,301$8,013,404 $3,625,765 $927,544 $20,562,389$16,009,080 $14,562,911 ($3,150)

CPA MUTUAL INS CO OF AMERICA RRG10164 $12,852,364 $0 $16,146,535$3,294,171 $7,310,638 $2,197,500 $10,386,826$878,688 $5,759,709 ($95)

CROSSFIT RISK RETENTION GROUP, INC.13720 $6,172,923 $0 $6,865,330$692,407 $2,049,682 $1,242,272 $4,408,645$1,116,691 $2,456,685 $230

CRUDEN BAY RRG INC11676 $16,357,342 $0 $16,447,962$90,620 $10,116,466 $504,110 $11,381,627$761,051 $5,066,335 $1,122

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 $0 $0 $0$0 $0 $0 $0$0 $0 $0

DAN RISK RETENTION GROUP, INC.15928 $3,671,764 $0 $3,932,635$260,871 $184,175 $111,138 $3,047,211$2,751,898 $885,424 $0

DOCTORS COMPANY RISK RETENTION GROUP, A RECIPROCAL EXCHANGE

14347 $7,794,250 $0 $24,347,867$16,553,617 $3,702,373 $2,146,073 $11,029,803$5,181,357 $13,318,064 ($5)

DOCTORS PROFESSIONAL LIABILITY RRG, INC.15893 $4,002,871 $653,749 $5,524,310$867,690 $1,441,207 $1,370,113 $3,519,075$707,755 $2,005,235 $0

DUBOIS MEDICAL RRG11842 $11,240,032 $0 $11,395,404$155,372 $2,619,592 $1,217,360 $4,198,647$361,695 $7,196,758 ($373)

EAGLE BUILDERS INSURANCE COMPANY RISK RETENTION GROUP, INC.16104 $2,529,897 $0 $2,695,809$165,912 $106,466 $870,547 $1,069,227$92,214 $1,626,582 $88

EASTERN DENTISTS INS CO RRG10115 $52,687,412 ($56,504) $59,442,740$6,811,832 $23,995,000 $7,397,479 $34,036,731$2,644,252 $25,406,009 ($1,814)

ELITE TRANSPORTATION RRG INC10125 $0 $0 $0$0 $0 $0 $0$0 $0 $0

EMERGENCY CAPITAL MANAGEMENT, LLC, RRG14163 $7,794,828 $825,004 $8,641,510$21,678 $4,648,282 $0 $5,308,465$660,183 $3,333,045 ($1)

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)

12003 $14,556,405 $986,186 $18,332,841$2,790,250 $5,961,307 $2,386,365 $10,275,663$1,927,991 $8,057,178 $497

Analysis of Risk Retention Groups

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COMPANYNAICCash & Invested

AssetsReinsurance Recoverables

Risk Retention Groups - Selected Statutory Balance Sheet and Schedule P Data

Other Assets Total AssetsLoss & LAE

ReservesUnearned

Premium Reserve Other Liabilities Total LiabilitiesPolicyholders'

Surplus

Prior Year-End Loss LAE Reserve Developed

(Savings)/Deficiency (000s)

EMERGENCY PHYSICIANS INSURANCE EXCHANGE RRG (EPIX)11714 $17,590,617 $0 $20,535,839$2,945,222 $11,050,689 $1,032,504 $13,119,726$1,036,533 $7,416,113 $0

EVERGREEN USA RRG INC38466 $0 $0 $0$0 $0 $0 $0$0 $0 $0

EXCELA RECIPROCAL RRG15337 $14,432,233 $0 $15,689,840$1,257,607 $10,396,897 $942,849 $11,416,348$76,602 $4,273,492 $108

FIRST MEDICAL INS CO RRG11278 $78,654,392 $0 $90,533,672$11,879,280 $45,044,686 $8,376,986 $55,217,707$1,796,035 $35,315,965 ($2,678)

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 $4,439,465 $0 $4,529,481$90,016 $724,211 $600,106 $1,560,704$236,387 $2,968,776 $134

FRANKLIN CASUALTY INS CO RRG10842 $6,274,505 $0 $44,970,310$38,695,805 $7,431,651 $2,605,822 $40,474,517$30,437,044 $4,495,793 $579

FREDERICKSBURG PROFESSIONAL RISK EXC12016 $15,803,115 $0 $21,397,458$5,594,343 $8,110,548 $260,111 $8,417,098$46,439 $12,980,360 $367

GABLES RISK RETENTION GROUP, INC.14032 $10,351,426 $0 $10,946,346$594,920 $4,204,726 $1,312,732 $5,595,332$77,874 $5,351,014 $333

GEISINGER INS CORP RRG12000 $2,983,477 $0 $27,416,231$24,432,754 $500,000 $977,402 $15,693,920$14,216,518 $11,722,312 $0

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 $3,346,073 $0 $3,346,073$0 $0 $0 $166,415$166,415 $3,179,658 ($89)

GLOBAL HAWK INSURANCE COMPANY RRG11948 $49,320,198 $0 $53,971,438$4,651,240 $27,945,700 $8,340,370 $47,472,193$11,186,123 $6,499,246 $4,123

GOLDEN INS CO RRG11145 $9,759,203 $210,154 $13,305,221$3,335,864 $4,535,013 $6,152,434 $11,726,617$1,039,170 $1,578,604 $669

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 $9,198,286 $0 $10,030,714$832,428 $3,234,830 $689,750 $3,947,473$22,893 $6,083,241 ($88)

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 $548,565 $198,238 $1,524,062$777,259 $10,000 $227,952 $607,153$369,201 $916,909 $0

GRACO RRG INC11581 $553,118 $0 $913,218$360,100 $0 $0 $344,745$344,745 $568,473 $0

GRAPH INSURANCE COMPANY, A RISK RETENTION GROUP LLC16415 $2,960,000 $0 $2,960,000$0 $0 $0 $7,083$7,083 $2,952,917 $0

GREEN HILLS INS CO RRG11941 $9,108,287 $0 $12,651,139$3,542,852 $3,761,170 $3,102,622 $7,666,150$802,358 $4,984,989 $30

GUARDIAN RRG INC11696 $0 $0 $0$0 $0 $0 $0$0 $0 $0

GUTHRIE RRG12014 $51,675,204 $0 $58,194,908$6,519,704 $33,460,538 $5,922,938 $39,640,827$257,351 $18,554,081 $0

HAMDEN ASSURANCE RRG, INC.13057 $2,936,692 $0 $75,673,496$72,736,804 $0 $0 $74,623,496$74,623,496 $1,050,000 $0

HEALTH CARE CAS RRG INC12236 $5,726,427 $30,072 $6,878,125$1,121,626 $4,006,253 $121,544 $4,284,195$156,398 $2,593,930 ($232)

HEALTH CARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG

11832 $28,764,643 $376,441 $51,262,347$22,121,263 $8,981,087 $2,019,389 $33,923,744$22,923,268 $17,338,603 ($39)

HEALTH NETWORK PROVIDERS MUT INS CO11813 $7,163,884 $0 $8,020,432$856,548 $4,251,567 $638,849 $5,227,395$336,979 $2,793,038 $2

HEALTH PROVIDERS INS RECIPROCAL RRG10080 $77,285,509 $0 $81,162,649$3,877,140 $19,905,738 $3,511,132 $25,514,552$2,097,682 $55,648,096 $1,526

HEALTHCARE PROVIDERS INS CO RRG11683 $80,136,778 $0 $83,706,544$3,569,766 $27,157,775 $5,426,180 $36,236,600$3,652,645 $47,469,944 ($2)

HOME CONSTRUCTION INS CO RRG11950 $0 $0 $0$0 $0 $0 $0$0 $0 $0

HOSPITALITY RISK RETENTION GROUP, INC.16038 $6,170,642 $725,432 $8,490,529$1,594,455 $3,422,369 $2,190,925 $5,965,279$351,985 $2,525,250 $122

HOUSING AUTHORITY RRG INC26797 $303,602,111 $0 $318,037,428$14,435,317 $92,251,982 $15,578,456 $126,099,935$18,269,497 $191,937,493 ($10,597)

HPIC RISK RETENTION GROUP15866 $1,674,810 $0 $1,682,679$7,869 $46,861 $2,153 $166,262$117,248 $1,516,417 $0

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 $358,336,061 $4,497,844 $388,812,308$25,978,403 $54,045,460 $11,591,067 $108,093,347$42,456,820 $280,718,961 ($10,267)

INDIANA HEALTHCARE RECIP RRG11692 $55,148,193 $0 $56,245,050$1,096,857 $19,092,761 $1,943,792 $21,322,809$286,256 $34,922,241 ($1,214)

INNOVATIVE PHYSICIAN SOLUTIONS RRG12320 $4,526,549 $0 $6,028,938$1,502,389 $3,331,375 $1,125,771 $4,767,853$310,707 $1,261,085 $0

IQS INSURANCE RISK RETENTION GROUP, INC.15080 $636,472 $0 $1,927,859$1,291,387 $362,437 $248,315 $774,827$164,075 $1,153,032 ($1)

IRONSHORE RISK RETENTION GROUP, INC.14375 $223,176 $0 $1,496,396$1,273,220 $331,347 $0 $377,164$45,817 $1,119,232 $0

J.M. WOODWORTH RRG, INC.12594 $4,855,462 $0 $4,893,585$38,123 $3,965,295 $0 $3,965,295$0 $928,290 $52

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 $51,467,481 $0 $55,766,093$4,298,612 $16,429,323 $1,500,014 $18,226,145$296,808 $37,539,948 $0

KENTUCKY HOSPITAL INS CO RRG11939 $18,334,129 $0 $19,087,465$753,336 $8,134,864 $633,377 $10,223,002$1,454,761 $8,864,461 ($824)

LAMMICO RRG, INC.14444 $5,852,178 $0 $5,992,736$140,558 $108,160 $32,999 $308,581$167,422 $5,684,155 $7

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 $7,850,168 $1,994,094 $10,941,233$1,096,971 $8,964,592 $1,263,221 $10,360,316$132,503 $580,917 $2,672

LONE STAR ALLIANCE, INC., A RISK RETENTION GROUP15211 $7,237,310 $0 $15,247,474$8,010,164 $2,913,783 $295,495 $12,032,920$8,823,642 $3,214,554 $295

LVHN RRG11684 $69,269,614 $0 $92,025,712$22,756,098 $0 $0 $87,025,712$87,025,712 $5,000,000 $3,776

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 $4,342,366 $0 $4,795,115$452,749 $2,693,377 $0 $2,699,657$6,280 $2,095,458 $849

MARATHON FIN INS CO INC RRG11117 $5,547,445 $0 $5,790,646$243,201 $0 $225,571 $3,937,824$3,712,253 $1,852,822 $0

Analysis of Risk Retention Groups

Page 24: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

COMPANYNAICCash & Invested

AssetsReinsurance Recoverables

Risk Retention Groups - Selected Statutory Balance Sheet and Schedule P Data

Other Assets Total AssetsLoss & LAE

ReservesUnearned

Premium Reserve Other Liabilities Total LiabilitiesPolicyholders'

Surplus

Prior Year-End Loss LAE Reserve Developed

(Savings)/Deficiency (000s)

MCIC VERMONT INC RRG10697 $1,924,481,062 $0 $2,055,329,923$130,848,861 $1,146,812,682 $88,474,976 $1,430,055,534$194,767,876 $625,274,389 $0

MD RISK RETENTION GROUP, INC.12355 $24,948,083 $316,275 $27,757,060$2,492,702 $7,768,974 $695,344 $8,778,951$314,633 $18,978,109 ($440)

MED MAL RISK RETENTION GROUP, INC.14446 $2,801,732 $0 $3,216,268$414,536 $558,803 $20,083 $1,726,711$1,147,825 $1,489,557 ($2)

MEDAMERICA MUTUAL RRG INC26257 $112,027,156 $0 $121,540,965$9,513,809 $50,705,883 $5,751,616 $64,218,766$7,761,267 $57,322,199 $0

MEDCHOICE RISK RETENTION GROUP, INC.15738 $1,995,836 $0 $6,839,112$4,843,276 $156,058 $217,546 $4,949,459$4,575,855 $1,889,653 $27

MEDPRO RRG RISK RETENTION GROUP13589 $48,763,776 $0 $100,183,415$51,419,639 $9,271,826 $1,649,414 $93,437,462$82,516,222 $6,745,953 ($168)

MENTAL HEALTH RISK RETENTION GROUP44237 $30,262,411 $0 $32,977,717$2,715,306 $10,020,434 $2,075,143 $14,339,483$2,243,906 $18,638,234 ($2,079)

MICA RISK RETENTION GROUP, INC.15527 $745,275 $0 $745,400$125 $0 $0 $1,612$1,612 $743,788 $0

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 $5,768,338 $0 $7,509,722$1,741,384 $4,072,076 $1,242,305 $5,643,303$328,922 $1,866,420 $162

MLM RISK RETENTION GROUP, INC.16026 $958,502 $0 $964,371$5,869 $150 $866 $14,296$13,280 $950,075 ($2)

MMIC RRG, INC.14062 $286,678 $0 $718,650$431,972 $0 $2,059 $31,240$29,181 $687,410 $0

MONTAUK RISK RETENTION GROUP, INC.16218 $7,071,687 $0 $7,598,602$526,915 $4,758,254 $8,641 $4,823,234$56,339 $2,775,368 $0

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 $330,859 $0 $1,681,100$1,350,241 $326,593 $170,500 $640,909$143,816 $1,040,191 $39

MOUNTAIN LAUREL RRG INC11547 $19,278,418 $0 $19,960,696$682,278 $8,579,774 $3,383,287 $12,411,709$448,648 $7,548,987 ($1,084)

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 $62,390,937 $0 $75,757,876$13,366,939 $53,100,462 $0 $53,580,516$480,054 $22,177,360 ($257)

NASW RISK RETENTION GROUP, INC.14366 $15,796,073 $0 $18,494,885$2,698,812 $2,822,681 $2,452,739 $6,817,314$1,541,894 $11,677,571 $429

NATIONAL ASSISTED LIVING RRG, INC.11806 $8,222,317 $0 $8,851,112$628,795 $2,658,341 $1,504,107 $4,424,267$261,819 $4,426,845 ($25)

NATIONAL BUILDERS & CONTRACTORS INS12235 $1,918,524 $173,793 $2,580,188$487,871 $1,116,372 $0 $1,212,519$96,147 $1,367,669 $0

NATIONAL CATHOLIC RRG10083 $72,897,664 $0 $78,438,831$5,541,167 $43,641,103 $7,119,228 $62,907,494$12,147,163 $15,531,337 ($709)

NATIONAL GUARDIAN RISK RETENTION GROUP36072 $7,517,798 $0 $13,114,719$5,596,921 $2,453,732 $124,263 $6,980,614$4,402,619 $6,134,105 $0

NATIONAL HOME INSURANCE CO RRG44016 $9,147,791 $0 $9,091,796($55,995) $2,850,254 $1,268,563 $5,021,578$902,761 $4,070,218 $357

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 $9,743,345 $140 $17,166,424$7,422,939 $4,283,253 $2,451,715 $8,275,234$1,540,266 $8,891,190 $489

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 $2,518,279 $0 $2,521,097$2,818 $0 $0 $117,417$117,417 $2,403,680 ($31)

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 $3,822,220 $0 $4,165,611$343,391 $0 $1,718,309 $1,794,122$75,813 $2,371,489 $0

NATIONAL TRANSPORTATION INSURANCE COMPANY RISK RETENTION GROUP, LLC

16011 $8,758,493 $0 $12,088,087$3,329,594 $1,801,904 $1,352,778 $7,896,915$4,742,233 $4,191,172 $0

NCMIC RISK RETENTION GROUP, INC.14130 $4,638,492 $0 $8,002,295$3,363,803 $1,203,574 $386,976 $2,827,993$1,237,443 $5,174,302 ($212)

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP

13792 $21,943,893 $0 $25,407,515$3,463,622 $1,823,307 $12,979,439 $18,486,096$3,683,350 $6,921,419 ($179)

NEW STAR RISK RETENTION GROUP, INC.12532 $0 $0 $0$0 $0 $0 $0$0 $0 $0

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 $18,400,232 $250,000 $29,286,737$10,636,505 $16,358,770 $5,884,866 $24,283,106$2,039,470 $5,003,631 $1,069

OASIS RECIPROCAL RISK RETENTION GROUP13644 $12,333,730 $0 $13,920,864$1,587,134 $6,572,711 $2,862,086 $10,597,166$1,162,369 $3,323,698 $129

OMS NATL INS CO RRG44121 $430,091,368 $173,553 $466,974,408$36,709,487 $128,793,543 $46,595,069 $192,710,465$17,321,853 $274,263,943 $0

ONYX INSURANCE COMPANY, INC., A RISK RETENTION GROUP15208 $18,389,481 $0 $39,156,418$20,766,937 $21,115,512 $13,857,573 $37,795,787$2,822,702 $1,360,630 $8,949

OOIDA RISK RETENTION GROUP INC10353 $59,619,191 $0 $102,102,872$42,483,681 $34,185,715 $11,253,524 $78,946,406$33,507,167 $23,156,466 $611

OPHTHALMIC MUTUAL INS CO RRG44105 $291,488,003 $0 $301,056,672$9,568,669 $44,264,960 $24,873,115 $81,235,074$12,096,999 $219,821,598 $792

ORANGE COUNTY MEDICAL RECIP INS RRG12183 $5,843,844 $0 $6,083,238$239,394 $1,172,165 $193,430 $1,611,752$246,157 $4,471,486 $293

ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION GROUP)14260 $17,060,424 $0 $20,697,068$3,636,644 $15,948,149 $640,785 $17,844,742$1,255,808 $2,852,326 $773

P&S INSURANCE RISK RETENTION GROUP, INC.15583 $158,884 $0 $939,496$780,612 $0 $0 $428,520$428,520 $510,976 $0

PACE RRG INC11575 $4,546,554 $6,394 $10,812,025$6,259,077 $443,743 $74,795 $7,730,788$7,212,250 $3,081,238 ($6)

PALLADIUM RISK RETENTION GROUP, INC.15279 $86,795,946 $0 $94,611,060$7,815,114 $62,302,146 $6,201,183 $78,217,652$9,714,323 $16,393,410 $899

PARATRANSIT INSURANCE COMPANY, RRG44130 $28,662,190 $0 $33,319,416$4,657,226 $10,870,410 $3,784,518 $17,325,032$2,670,104 $15,994,384 $78

PCH MUTUAL INSURANCE COMPANY, RRG11973 $6,582,105 $40,184 $7,635,329$1,013,040 $2,158,940 $1,545,378 $5,107,265$1,402,947 $2,528,064 $53

PEACE CHURCH RRG INC11846 $21,619,353 $0 $22,615,351$995,998 $4,480,511 $710,206 $5,834,790$644,073 $16,780,561 $0

PELICAN INS RRG11587 $15,953,679 $0 $16,890,308$936,629 $5,767,583 $660,228 $7,375,848$948,037 $9,514,460 $695

Analysis of Risk Retention Groups

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COMPANYNAICCash & Invested

AssetsReinsurance Recoverables

Risk Retention Groups - Selected Statutory Balance Sheet and Schedule P Data

Other Assets Total AssetsLoss & LAE

ReservesUnearned

Premium Reserve Other Liabilities Total LiabilitiesPolicyholders'

Surplus

Prior Year-End Loss LAE Reserve Developed

(Savings)/Deficiency (000s)

PHOEBE RECIPROCAL RRG12004 $4,142,583 $0 $4,352,946$210,363 $1,094,838 $96,812 $1,226,845$35,195 $3,126,101 ($85)

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 $0 $0 $0$0 $0 $0 $0$0 $0 $0

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 $3,169,084 $601,848 $6,981,986$3,211,054 $2,030,723 $1,371,460 $5,342,042$1,939,859 $1,639,944 ($27)

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 $82,159,496 $0 $92,168,448$10,008,952 $38,849,990 $9,316,474 $60,289,794$12,123,330 $31,878,654 ($2,918)

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 $0 $0 $0$0 $0 $0 $0$0 $0 $0

PHYSICIANS REIMBURSEMENT RRG10934 $29,856,254 $0 $30,822,131$965,877 $17,110,000 $575,063 $18,169,464$484,401 $12,652,668 ($4,483)

PHYSICIANS SPECIALTY LTD RRG11513 $7,925,956 $0 $10,034,179$2,108,223 $2,610,615 $25 $3,142,653$532,013 $6,891,526 ($495)

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 $23,363,559 $0 $25,337,110$1,973,551 $4,032,287 $1,274,054 $5,421,889$115,548 $19,915,221 ($1,034)

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 $68,110,825 $0 $68,690,884$580,059 $33,965,858 $4,061,869 $41,163,096$3,135,369 $27,527,788 ($1,402)

PLATINUM TRANSPORT INSURANCE RISK RETENTION GROUP, INC.15796 $6,923,657 $0 $9,930,239$3,006,582 $4,487,409 $2,638,473 $7,693,710$567,828 $2,236,529 $0

PONCE DE LEON LTC RRG, INC.11809 $5,392,660 $0 $5,435,876$43,216 $1,168,811 $0 $1,186,437$17,626 $4,249,439 ($45)

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 $53,687,313 $37,161,862 $124,465,747$33,616,572 $76,598,121 $15,457,139 $109,432,256$17,376,996 $15,033,491 $5,965

PREFERRED PHYSICIANS MEDICAL RRG44083 $18,438,320 $0 $24,395,175$5,956,855 $2,827,910 $0 $19,395,175$16,567,265 $5,000,000 ($298)

PREFERRED PROFESSIONAL RRG14919 $494,061 $0 $877,412$383,351 $65,694 $24,856 $275,170$184,620 $602,242 $0

PROASSURANCE AMERICAN MUTUAL, A RISK RETENTION GROUP15647 $11,546,148 $0 $13,564,942$2,018,794 $261,170 $143,510 $2,565,376$2,160,696 $10,999,566 $0

PROBUILDERS SPECIALTY INS CO RRG11671 $10,091,175 $0 $12,039,163$1,947,988 $18,997 $0 $190,537$171,540 $11,848,626 $0

PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)

14461 $13,923,606 $0 $14,204,898$281,292 $7,968,117 $642,863 $8,319,249($291,731) $5,885,649 ($80)

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 $0 $0 $0$0 $0 $0 $0$0 $0 $0

PROFESSIONALS RISK RETENTION GROUP, INC.13067 $1,846,189 $0 $3,151,491$1,305,302 $772,732 $693,116 $1,942,628$476,780 $1,208,863 $11

PROSPECT MEDICAL HOLDINGS RISK RETENTION GROUP, INC. IC15990 $24,257,492 $0 $35,108,824$10,851,332 $18,293,357 $7,081,206 $29,913,453$4,538,890 $5,195,371 ($223)

PUBLIC UTILITY MUTUAL INSURANCE COMPANY, RRG11350 $7,904,837 $0 $8,043,258$138,421 $1,027,243 $257,090 $1,351,763$67,430 $6,691,495 $0

RECOVER INSURANCE COMPANY RISK RETENTION GROUP, INC.16155 $2,111,640 $0 $2,650,490$538,850 $85,325 $265,930 $692,008$340,753 $1,958,482 $2

RECREATION RISK RETENTION GROUP, INC.15905 $3,943,172 $75,394 $4,444,079$425,513 $619,860 $419,658 $1,278,162$238,644 $3,165,917 ($162)

RED CLAY RISK RETENTION GROUP, INC.13078 $7,184,185 $49,630 $9,174,788$1,940,973 $3,066,299 $173,939 $3,867,438$627,200 $5,307,350 $0

RED ROCK RISK RETENTION GROUP, INC.13736 $5,108,327 $0 $5,729,940$621,613 $2,289,124 $415,250 $2,793,632$89,258 $2,936,308 $55

REPUBLIC RRG12019 $0 $0 $0$0 $0 $0 $0$0 $0 $0

RESTORATION RISK RETENTION GROUP, INC.12209 $77,160,795 $0 $88,805,381$11,644,586 $38,494,068 $7,616,698 $48,928,519$2,817,753 $39,876,862 $1

ROMULUS INSURANCE RISK RETENTION GROUP, INC.15744 $1,723,704 $0 $3,496,666$1,772,962 $535,000 $499,315 $1,065,582$31,267 $2,431,084 $0

SAGE RISK RETENTION GROUP, INC.15631 $2,886,247 $0 $5,019,407$2,133,160 $2,793,982 $893,935 $3,940,563$252,646 $1,078,843 $1

SAINT LUKE'S HLTH SYSTEM RRG11712 $7,936,769 $0 $13,496,178$5,559,409 $3,646,685 $1,260,957 $5,085,301$177,659 $8,410,877 $110

SAMARITAN RISK RETENTION GROUP, INC.12511 $43,486,132 $0 $45,096,412$1,610,280 $11,018,180 $6,377,522 $19,816,845$2,421,143 $25,279,567 ($642)

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 $10,759,743 $1,402,895 $15,801,761$3,639,123 $9,212,555 $1,682,017 $11,728,564$833,992 $4,073,197 $383

SELECT MD RRG14136 $1,531,556 $31,052 $1,972,235$409,627 $587,907 $339,488 $1,196,257$268,862 $775,978 $23

SENIORSFIRST RISK RETENTION GROUP, INC.16088 $0 $0 $1,000,000$1,000,000 $0 $0 $0$0 $1,000,000 $0

SIGMA RRG, INC.13557 $17,523,704 $0 $17,833,081$309,377 $9,100,344 $443,403 $9,896,492$352,745 $7,936,589 ($16)

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 $29,566,012 $0 $29,772,877$206,865 $9,224,659 $0 $10,911,947$1,687,288 $18,860,929 ($2,144)

SPIRIT COMMERCIAL AUTO RISK RETENTION GROUP14207 $12,385,687 ($5,406,541) $61,647,704$54,668,558 $0 ($3,963,082) $58,745,866$62,708,948 $2,901,838 ($47,582)

SPIRIT MOUNTAIN INSURANCE COMPANY RRG, INC10754 $5,973,315 $0 $6,429,846$456,531 $1,437,476 $841,004 $3,407,929$1,129,449 $3,021,917 ($693)

ST CHARLES INS CO RRG11114 $18,716,125 $0 $19,128,233$412,108 $2,066,763 $20,841 $2,639,022$551,418 $16,489,211 ($1,840)

ST LUKES HEALTH NETWORK INS CO RRG11688 $65,526,445 $0 $68,724,302$3,197,857 $43,009,534 $2,597,882 $45,604,887($2,529) $23,119,415 ($886)

STATES SELF-INSURERS RRG44075 $28,052,118 $0 $29,208,634$1,156,516 $14,958,864 $2,577,449 $18,907,595$1,371,282 $10,301,039 ($38)

STICO MUT INS CO RRG10476 $21,994,926 $0 $23,356,275$1,361,349 $4,873,592 $5,316,721 $10,499,608$309,295 $12,856,667 $28

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 $233,069 $0 $821,065$587,996 $0 $0 $128,366$128,366 $692,699 $0

Analysis of Risk Retention Groups

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COMPANYNAICCash & Invested

AssetsReinsurance Recoverables

Risk Retention Groups - Selected Statutory Balance Sheet and Schedule P Data

Other Assets Total AssetsLoss & LAE

ReservesUnearned

Premium Reserve Other Liabilities Total LiabilitiesPolicyholders'

Surplus

Prior Year-End Loss LAE Reserve Developed

(Savings)/Deficiency (000s)

SUNLAND RISK RETENTION GROUP, INC.14026 $818,905 $0 $4,590,818$3,771,913 $379,658 $122,947 $3,031,367$2,528,762 $1,559,451 $102

TERRA INS CO RRG10113 $25,041,232 $0 $27,799,432$2,758,200 $1,937,948 $0 $9,736,655$7,798,707 $18,062,777 $2

TERRAFIRMA RISK RETENTION GROUP LLC14395 $7,629,096 $0 $7,682,646$53,550 $2,041,359 $631,391 $2,772,732$99,982 $4,909,913 $140

THE HEALTHCARE UNDERWRITING CO RRG10152 $114,790,723 $0 $157,792,655$43,001,932 $98,535,868 $23,466,551 $123,324,070$1,321,651 $34,468,587 ($1,719)

TITAN INS CO INC RRG11153 $68,515,062 $0 $72,658,583$4,143,521 $0 $10,214,863 $15,600,451$5,385,588 $57,058,132 $0

TITLE INDUSTRY ASSURANCE CO RRG10084 $6,819,481 $348,305 $8,249,392$1,081,606 $2,003,818 $561,205 $3,288,489$723,466 $4,960,903 $261

TOWER HEALTH RECIPROCAL RISK RETENTION GROUP16224 $5,301,841 $0 $5,426,125$124,284 $2,497,881 $0 $2,628,540$130,659 $2,797,585 $1,845

TRANSPORT RISK SOLUTIONS RISK RETENTION GROUP, INC.16025 $104,759 $0 $1,038,005$933,246 $0 $0 $442,282$442,282 $595,723 $0

TRANSPORTATION INSURANCE SERVICES RISK RETENTION GROUP, INC.15767 $226,567 $0 $2,049,328$1,822,761 $471,196 $233,250 $1,220,622$516,176 $828,706 $33

TRINITY RISK SOLUTIONS RECIPROCAL INSURANCE COMPANY RRG11958 $8,036,013 $322,774 $9,094,785$735,998 $4,077,976 $538,521 $5,585,039$968,542 $3,509,746 ($38)

UC HEALTH, RRG A RECIPROCAL RISK RETENTION GROUP16015 $1,824,190 $0 $2,520,976$696,786 $6,408 $57,710 $208,869$144,751 $2,312,107 $0

UNITED CENTRAL PA RRG11548 $21,325,944 $0 $23,485,402$2,159,458 $12,145,880 $1,568,835 $13,773,420$58,705 $9,711,982 $912

UNITED EDUCATORS INS RRG INC10020 $827,996,552 $0 $936,984,233$108,987,681 $444,557,095 $98,178,742 $636,114,428$93,378,591 $300,869,805 ($8,605)

UNITED HOME INSURANCE CO A RRG10712 $574,492 $0 $1,218,609$644,117 $0 $115,083 $141,524$26,441 $1,077,085 $0

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 $3,348,193 $0 $4,830,926$1,482,733 $1,520,457 $764,173 $3,150,902$866,272 $1,680,024 ($144)

URGENT MD RISK RETENTION GROUP, INC.15908 $7,760,128 $857,870 $15,446,150$6,828,152 $6,276,767 $2,622,121 $11,004,982$2,106,094 $4,441,168 ($815)

UV INSURANCE RISK RETENTION GROUP, INC.13988 $1,256,988 $0 $1,256,988$0 $149,037 $100,000 $298,684$49,647 $958,304 $2

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 $2,651,116 $0 $2,679,695$28,579 $0 $0 $23,859$23,859 $2,655,836 $0

VELOCITY INSURANCE COMPANY, A RISK RETENTION GROUP15956 $895,480 $0 $2,937,752$2,042,272 $708,333 $437,260 $1,166,343$20,750 $1,771,410 $0

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 $1,776,628 $0 $2,219,755$443,127 $889,484 $320,320 $1,456,342$246,538 $763,413 ($27)

WELLSPAN RRG11682 $20,992,023 $0 $31,907,189$10,915,166 $21,715,208 $2,733,030 $24,535,545$87,307 $7,371,644 ($848)

WESTERN CATHOLIC INSURANCE COMPANY RRG14122 $0 $0 $0$0 $0 $0 $0$0 $0 $0

WESTERN PACIFIC MUT INS CO RRG40940 $142,687,325 $0 $144,621,911$1,934,586 $8,207,583 $12,974,659 $25,019,678$3,837,436 $119,602,233 ($2,335)

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 $15,323,037 $0 $20,603,117$5,280,080 $7,246,292 $1,403,843 $10,290,316$1,640,181 $10,312,802 ($888)

Analysis of Risk Retention Groups

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COMPANYNAICDirect Premium

WrittenNet Premium

Written

Risk Retention Groups - Selected Statutory Income Statement Data

Net Premium Earned

Loss & Loss Adjusted

Expenses IncurredNet Operating Gains/Losses

Net Investment Gains/Losses Net Income/Loss

Other Underwriting

Expenses

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP

12934 $914,606 $813,825 $358,963$687,462 ($26,463) $0 $19,376$354,962

ADVANCED PHYSICIANS INS RRG INC12166 $150,239 $150,239 ($16,708)$121,562 $39,036 $13,880 $52,916$99,234

AEGIS HEALTHCARE RRG, INC.12252 $1,981,779 $1,139,865 $594,052$852,042 ($63,843) $16,669 ($37,114)$321,833

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 $1,452,070 $368,212 $224,999$276,159 ($19,138) $248,835 $249,911$70,298

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 $0 $0 $0$0 $0 $0 $0$0

AGRI INSURANCE EXCHANGE RRG28380 $937,445 $937,445 $1,603$703,084 $479,044 $188,253 $534,897$222,437

ALLEGIANT INS CO INC A RRG11965 $14,786,504 $5,914,602 $2,672,255$5,914,602 $2,522,490 $161,628 $2,053,316$719,857

ALLIANCE OF NONPROFITS FOR INS RRG10023 $38,821,091 $27,862,794 $16,958,029$24,938,667 $135,016 $1,649,195 $1,958,959$7,845,622

ALLIED GUARANTY INSURANCE COMPANY13024 $124,803 $1,201,644 $1,645,347$3,248,374 $1,458,995 $89,200 $1,223,195$144,032

ALLIED PREMIER INSURANCE A RRG15639 $0 $0 $0$0 $0 $0 $0$0

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 $10,401,266 $7,752,567 $4,042,210$6,875,747 ($640,687) $283,744 ($269,716)$3,474,225

ALLIED SERVICES RISK RETENTION GROUP12013 $1,046,000 $1,046,000 $901,648$766,978 ($328,823) $93,102 ($235,721)$194,153

AMERICAN ASSOC OF OTHODONTISTS RRG10232 $5,875,373 $5,875,373 $3,054,410$5,791,513 $1,219,819 $514,227 $1,385,670$1,517,284

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 $2,523,886 $2,222,646 $593,706$1,333,397 $26,162 $10,607 $336,769$713,529

AMERICAN CAR DEALERS RRG INC.16182 $0 $0 $0$0 $0 $0 $0$0

AMERICAN CONTRACTORS INS CO RRG12300 $53,550,012 $0 $0$0 $340,937 $38,591 $299,970($340,937)

AMERICAN EXCESS INS EXCHANGE RRG10903 $22,301,258 $19,855,424 $25,329,044$14,815,794 ($14,361,715) $10,765,719 ($3,595,996)$3,848,465

AMERICAN FOREST CASUALTY COMPANY RRG11590 $2,687,880 $2,096,972 $1,199,680$1,820,199 $6,828 $238,751 $220,816$613,691

AMERICAN RISK MGMT RRG INC.15853 $1,732,763 $1,732,763 $1,216,702$2,093,267 $155,862 $11,734 $122,035$720,703

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG11534 $19,941,971 $9,637,646 $8,367,245$10,861,905 ($906,029) $424,649 ($256,149)$3,400,689

A-ONE COMMERCIAL INSURANCE RISK RETENTION GROUP, INC.15597 $15,671,101 $13,463,800 $9,220,469$11,205,155 ($992,831) $216,639 ($622,180)$2,977,517

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 $44,063,096 $44,063,096 $21,241,312$30,585,184 ($3,050,376) $3,622,307 $611,232$12,394,248

ARCHITECTS & ENGINEERS INS CO RRG44148 $3,124,305 $683,673 $723,210$1,033,157 ($81,094) $411,251 $330,157$391,041

ARCOA RISK RETENTION GROUP, INC.13177 $10,587,479 $10,587,479 $4,828,378$10,587,479 $1,296,968 $353,605 $1,305,910$4,462,133

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP13580 $1,253,900 $1,189,461 $0$933,207 $478,423 $15,765 $416,188$454,784

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 $0 $0 $39$0 ($98,155) $0 ($98,155)$98,116

ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION GROUP, INC.

14425 $1,538,448 $126,660 $30,461$126,660 $60,759 $8 $48,005$35,440

ATTORNEYS INSURANCE MUTUAL OF THE SOUTH, INC RRG33677 $2,990,334 $900,924 $736,573$741,276 ($1,549,089) $201,124 ($1,331,449)$1,553,792

ATTORNEYS INSURANCE MUTUAL RRG INC22670 $4,948,940 $3,118,154 $1,531,773$2,108,027 ($556,643) $294,297 ($130,339)$1,132,897

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 $352,575,514 $196,746,546 $100,080,176$147,051,980 $17,224,019 $17,281,268 $25,793,796$29,747,785

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 $4,159,450 $83,189 $51,768$69,200 ($8,603) $0 ($6,879)$26,035

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

BAR VERMONT RISK RETENTION GROUP INC10174 $0 $0 $874,437$1,480,328 ($790,501) $1,913,518 $1,001,268$1,396,392

BAY INSURANCE RISK RETENTION GROUP, INC.15582 $0 $0 $0$0 ($146,839) $0 $48,512$146,839

BEACONHARBOR MUTUAL RISK RETENTION GROUP14487 $16,760 $296 $0$200 ($3,174) $0 ($3,174)$3,374

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 $18,744,956 $12,375,623 $8,391,164$9,234,074 $429,640 $392,600 $639,832$413,270

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 $731,767 $621,764 $33,860$629,198 $232,240 $51,351 $227,173$363,098

BROADLINE RISK RETENTION GROUP, INC.13788 $21,895,785 $19,703,845 $14,408,100$14,307,658 ($1,561,504) $9,625,196 $8,208,498$1,461,062

BTTS INSURANCE RISK RETENTION GROUP, INC.15591 $0 $0 $0$0 $0 $0 $0$0

C.A.R. RISK RETENTION GROUP, INC.15921 $801,623 $801,623 $605,996$801,624 ($40,231) $0 ($40,231)$235,859

CALIFORNIA HEALTHCARE INS CO INC RRG44504 $22,962,938 $15,510,655 $14,497,386$16,265,539 $338,289 $1,701,459 $1,610,748$1,429,864

CALIFORNIA MEDICAL GRP INS CO RRG12180 $4,695,258 $4,695,258 $4,008,037$3,603,773 ($1,047,583) $260,156 ($774,839)$643,319

CARE RISK RETENTION GROUP, INC.11825 $5,245,622 $4,662,230 $3,540,997$4,947,340 $7,364 $199,850 $183,526$1,398,979

Analysis of Risk Retention Groups

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CAREGIVERS UNITED LIAB INS CO RRG11544 $4,954,583 $4,582,479 $1,587,692$3,925,125 $1,790,552 $604,512 $2,084,323$546,881

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 $29,877,951 $11,173,060 $5,930,880$8,472,686 $567,695 $1,666,989 $2,234,684$1,974,110

CASSATT RISK RETENTION GROUP INC10808 $17,715,289 $100,000 $96,121$75,000 ($72,853) $35,633 ($29,404)$51,732

CENTRAL PA PHYSICIANS RRG INC11694 $9,278,407 $9,278,407 $8,942,952$8,108,234 ($3,619,417) $1,123,560 ($1,897,836)$2,784,699

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 $4,505,141 $5,402,207 $3,505,428$5,384,017 $389,380 $218,504 $479,106$1,489,209

CHEROKEE GUARANTEE COMPANY INC., RRG14388 $8,534,514 $8,534,514 $4,667,267$6,450,361 $1,120,347 $535,015 $1,240,821$662,747

CIRCLE STAR INS CO RRG11839 $8,977,678 $448,884 $232,424$331,857 $583,152 ($70) $460,636($483,719)

CLAIM PROFESSIONALS LIAB INS CO RRG12172 $2,556,371 $599,553 $282,566$587,562 $3,181 $67,173 $37,782$301,815

CLARIAN HLTH RRG INC11992 $20,683,957 $20,683,957 $563,595$0 ($3,362,732) $4,077 $13,701$2,799,137

CMIC RISK RETENTION GROUP13756 $1,994,378 $71,893 $181,251$182,297 $29,120 $6,433 $28,178($28,074)

COLLEGE LIABILITY INS CO A RECIP RRG44598 $4,944,973 $4,944,973 $447,054$3,311,825 $2,346,567 $542,156 $2,888,723$518,204

COLLEGE RISK RETENTION GROUP, INC.13613 $6,977,422 $5,815,734 $3,359,345$4,625,600 $183,873 $406,458 $590,331$1,082,382

COLUMBIA NATIONAL RRG INC10803 $241,110 $241,110 $0$183,516 $56,718 $17,963 $58,998$126,798

COMCARE PRO INS RECIPROCAL RRG11864 $3,462,561 $3,462,561 $2,759,688$2,225,155 ($844,147) $323,205 ($520,942)$309,614

COMMERCIAL HIRECAR INSURANCE COMPANY, A RISK RETENTION GROUP15836 $0 $0 $0$0 $0 $0 $0$0

COMMUNITIES OF FAITH RRG INC11807 $979,593 $979,593 $308,747$710,254 ($69,571) $236,488 $184,568$471,078

COMMUNITY BLOOD CENTERS EXCH RRG13893 $1,766,984 $1,064,584 $429,446$1,366,632 $319,075 $216,512 $455,912$618,111

COMMUNITY CARE RISK RETENTION GROUP, INC.15798 $3,694,489 $2,892,856 $996,403$1,483,664 $189,507 $73,873 $207,996$297,754

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 $0 $0 $108,778$0 ($876,978) $418,642 ($497,943)$768,200

COMMUNITY HOSPITAL RRG11259 $39,034,381 $17,706,385 $6,209,841$13,279,789 $6,119,569 $4,711,911 $11,361,184$950,378

COMPASS SPECIALTY INSURANCE RISK RETENTION GROUP, INC.15867 $3,574,501 $2,685,424 $1,490,257$2,698,679 $262,660 $9,269 $214,824$945,762

CONSUMER SPECIALTIES INSURANCE COMPANY RRG10075 $518,595 $231,618 $162,011$370,612 ($88,130) $105,095 $16,965$296,730

CONTINUING CARE RRG, INC.11798 $3,752,125 $496,803 ($1,230,596)($215,965) $7,238 $10,982 ($162,830)$1,007,392

CONTRACTORS INS CO OF NORTH AMER RRG11603 $8,153,249 $1,467,585 $1,265,784$1,555,091 ($562,240) $319,132 ($192,055)$851,547

CONTROLLED RISK INS CO OF VT RRG10341 $168,573,788 $25,290,422 $7,413,750$18,952,576 $1,584,965 ($164,485) $1,122,177$9,953,861

COPIC, A RISK RETENTION GROUP14906 $403,837 $18,479 $8,225$22,891 $37,388 ($7,915) $29,473($22,722)

COUNTY HALL INSURANCE COMPANY, INC., A RISK RETENTION GROUP15947 $32,134,760 $26,993,198 $9,036,577$13,703,411 $649,731 $104,136 $595,595$4,017,103

COVERYS RRG, INC.14160 $35,803,463 $1,511,195 ($1,593,033)$1,292,825 $2,342,228 $372,166 $2,584,134$543,630

CPA MUTUAL INS CO OF AMERICA RRG10164 $6,037,639 $3,297,300 $2,687,213$3,161,366 ($307,244) $153,641 ($117,013)$781,397

CROSSFIT RISK RETENTION GROUP, INC.13720 $2,827,420 $2,121,191 $700,517$1,858,860 $80,381 $15,074 $95,455$1,077,962

CRUDEN BAY RRG INC11676 $2,000,000 $2,000,000 $1,495,891$1,495,890 ($166,750) $184,324 $17,574$166,749

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 $0 $0 $0$0 $0 $0 $0$0

DAN RISK RETENTION GROUP, INC.15928 $1,656,165 $148,616 $169,193$82,402 ($85,388) $19,737 ($51,081)($1,403)

DOCTORS COMPANY RISK RETENTION GROUP, A RECIPROCAL EXCHANGE14347 $5,619,900 ($2,659,607) $1,129,652$923,252 ($1,242,349) ($291,460) ($1,562,999)$1,035,949

DOCTORS PROFESSIONAL LIABILITY RRG, INC.15893 $2,097,122 $1,807,431 $1,258,817$1,883,539 ($40,580) $14,023 ($43,146)$665,302

DUBOIS MEDICAL RRG11842 $1,398,107 $1,398,107 $2,960,915$881,718 ($2,355,941) $415,003 ($1,940,938)$276,744

EAGLE BUILDERS INSURANCE COMPANY RISK RETENTION GROUP, INC.16104 $266,746 $266,746 $187,686$100,021 ($629,698) $101,302 $89,464$542,033

EASTERN DENTISTS INS CO RRG10115 $9,922,247 $8,408,501 $4,379,638$7,953,951 ($42,086) $957,309 $974,168$3,616,398

ELITE TRANSPORTATION RRG INC10125 $0 $0 $0$0 $0 $0 $0$0

EMERGENCY CAPITAL MANAGEMENT, LLC, RRG14163 $0 $62,230 $0($62,230) ($225,282) $113,459 ($85,971)$163,052

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)12003 $5,165,958 $4,491,664 $2,870,373$4,211,648 ($359,620) $229,496 ($53,898)$1,700,895

EMERGENCY PHYSICIANS INSURANCE EXCHANGE RRG (EPIX)11714 $3,595,043 $3,252,796 $2,893,698$3,318,475 ($695,186) $482,008 ($162,179)$1,119,963

EVERGREEN USA RRG INC38466 $0 $0 $0$0 $0 $0 $0$0

EXCELA RECIPROCAL RRG15337 $3,777,804 $3,777,804 $2,487,332$2,834,955 $29,959 $237,986 $267,945$317,664

FIRST MEDICAL INS CO RRG11278 $11,200,000 $11,200,000 $7,848,179$8,376,986 $114,675 ($419,224) ($304,549)$414,132

Analysis of Risk Retention Groups

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FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 $867,507 $867,507 $267,786$644,793 $81,712 $70,397 $143,635$295,295

FRANKLIN CASUALTY INS CO RRG10842 $48,025,515 $3,523,350 $1,658,796$2,640,349 ($66,275) $16,524 ($49,751)$1,047,828

FREDERICKSBURG PROFESSIONAL RISK EXC12016 $2,329,063 $2,329,063 $1,462,027$1,525,155 ($115,779) $184,567 $68,996$178,907

GABLES RISK RETENTION GROUP, INC.14032 $3,502,262 $3,502,262 $1,478,576$2,640,716 $913,303 $119,224 $816,119$248,838

GEISINGER INS CORP RRG12000 $20,062,032 $1,303,204 $500,000$957,336 ($73,053) $12,248 ($60,805)$530,389

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 $130,000 $86,055 ($89,190)$86,055 $98,053 $0 $79,266$77,192

GLOBAL HAWK INSURANCE COMPANY RRG11948 $13,317,109 $6,084,599 $12,836,188$9,770,665 ($7,236,434) $1,746,270 ($5,480,137)$4,170,910

GOLDEN INS CO RRG11145 $3,815,197 $2,770,197 $2,682,666$2,740,687 ($843,991) $170,810 ($417,284)$912,012

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 $2,759,000 $2,759,000 $1,071,178$2,069,250 $809,654 $292,940 $1,102,594$188,418

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.

13973 $1,095,395 $835,512 $26,462$633,279 $130,713 $3,686 $133,605$476,104

GRACO RRG INC11581 $1,390,369 $0 $0$0 $60,823 $3,051 $58,913($60,823)

GRAPH INSURANCE COMPANY, A RISK RETENTION GROUP LLC16415 $0 $0 $0$0 ($47,083) $0 ($47,083)$47,083

GREEN HILLS INS CO RRG11941 $4,148,194 $4,148,194 $50,000$3,051,825 $2,246,516 $103,479 $1,797,765$755,309

GUARDIAN RRG INC11696 $0 $0 $0$0 $0 $0 $0$0

GUTHRIE RRG12014 $7,911,662 $7,911,662 $3,188,529$5,849,146 $2,263,919 $897,341 $3,161,260$396,698

HAMDEN ASSURANCE RRG, INC.13057 $0 $0 $0$0 $25,810 ($4,135) $21,675($25,810)

HEALTH CARE CAS RRG INC12236 $0 $0 ($191,952)$142,826 $106,746 $74,584 $188,687$228,032

HEALTH CARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG11832 $34,536,526 $3,082,233 $2,311,304$3,025,254 $453,478 $104,747 $430,740($4,960,968)

HEALTH NETWORK PROVIDERS MUT INS CO11813 $1,078,440 $898,599 $425,218$701,384 $85,617 $120,164 ($4,446)$190,550

HEALTH PROVIDERS INS RECIPROCAL RRG10080 $6,262,130 $4,826,087 $6,256,589$3,916,606 ($3,934,439) $511,809 ($3,422,630)$1,594,456

HEALTHCARE PROVIDERS INS CO RRG11683 $9,275,855 $8,945,652 $5,778,044$7,467,808 ($1,810,369) $1,516,713 ($266,574)$3,500,133

HOME CONSTRUCTION INS CO RRG11950 $0 $0 $0$0 $0 $0 $0$0

HOSPITALITY RISK RETENTION GROUP, INC.16038 $3,759,124 $2,975,763 $2,682,671$3,039,915 ($777,015) $26,871 ($594,160)$1,134,259

HOUSING AUTHORITY RRG INC26797 $28,642,672 $25,932,216 $14,296,270$25,434,185 $815,469 $3,892,193 $4,707,662$10,322,446

HPIC RISK RETENTION GROUP15866 $10,441 $887 $10,687$6,535 ($103,800) $7,962 ($95,838)$99,648

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 $60,545,914 $20,850,857 $4,729,374$21,690,371 $8,548,933 $6,320,229 $11,987,734$8,412,064

INDIANA HEALTHCARE RECIP RRG11692 $7,775,168 $7,775,168 $3,125,609$5,831,376 $1,268,090 $3,939,618 $5,178,583$1,437,677

INNOVATIVE PHYSICIAN SOLUTIONS RRG12320 $1,749,910 $1,490,130 $599,921$1,040,744 $10,032 $41,235 $51,267$430,791

IQS INSURANCE RISK RETENTION GROUP, INC.15080 $486,400 $486,400 $110,965$344,406 $80,351 $6,296 $86,647$153,090

IRONSHORE RISK RETENTION GROUP, INC.14375 ($8,079) ($404) $0$241 ($261,260) $668 ($260,592)$261,501

J.M. WOODWORTH RRG, INC.12594 $0 $0 $51,985$0 ($320,234) $152,237 ($168,415)$268,248

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 $5,283,621 $4,459,864 $3,928,841$3,296,647 ($1,612,489) $1,144,850 ($451,997)$980,295

KENTUCKY HOSPITAL INS CO RRG11939 $4,473,919 $4,473,919 $531,848$1,883,905 $559,414 $244,875 $647,634$792,643

LAMMICO RRG, INC.14444 $1,347,602 $45,993 $36,495$26,499 $48,989 $114,033 $163,022($58,985)

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 $1,700,787 $4,895,013 $4,478,617$7,116,063 $1,041,876 $108,264 ($246,411)$1,595,570

LONE STAR ALLIANCE, INC., A RISK RETENTION GROUP15211 $23,144,653 $895,217 $1,542,073$851,135 $672,504 ($130,833) $525,104($1,363,442)

LVHN RRG11684 $19,364,174 $19,364,174 $4,333,288$0 $283,556 ($283,556) $0$753,555

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 ($379,061) ($256,069) $1,572,585$1,219,843 ($550,625) $46,944 ($350,661)$197,883

MARATHON FIN INS CO INC RRG11117 $159,276 $159,276 $0$195,779 ($167,705) $31,709 ($107,437)$363,484

MCIC VERMONT INC RRG10697 $286,195,837 $275,278,465 $213,854,980$186,918,487 ($57,895,667) $57,714,908 $0$30,959,174

MD RISK RETENTION GROUP, INC.12355 $4,076,918 $2,845,793 $1,132,447$3,220,665 $1,531,932 $470,738 $1,779,796$556,286

MED MAL RISK RETENTION GROUP, INC.14446 $1,042,531 $47,092 $43,547$27,010 ($115,816) $28,714 ($71,267)$99,279

MEDAMERICA MUTUAL RRG INC26257 $31,857,229 $23,217,530 $14,153,731$17,465,914 $2,356,345 $1,760,853 $3,171,966$955,838

MEDCHOICE RISK RETENTION GROUP, INC.15738 $7,592,627 $379,632 $144,357$195,991 ($1,991,081) ($15,499) ($48,237)$2,042,715

Analysis of Risk Retention Groups

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MEDPRO RRG RISK RETENTION GROUP13589 $106,784,474 $2,133,036 $1,881,360$2,221,175 ($366,496) $448,552 $103,916$706,311

MENTAL HEALTH RISK RETENTION GROUP44237 $9,176,646 $3,647,717 $1,490,253$3,092,069 $790,134 $436,792 $950,822$811,682

MICA RISK RETENTION GROUP, INC.15527 $0 $0 $0$0 ($17,203) $3,736 ($13,467)$17,203

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 $2,585,167 $2,165,234 $969,210$2,090,918 ($57,258) $37,034 ($110,289)$1,178,966

MLM RISK RETENTION GROUP, INC.16026 $30,551 $1,441 ($1,638)$901 ($17,053) $7,550 ($9,503)$19,592

MMIC RRG, INC.14062 $49,498 $2,179 $0$4,952 ($39,152) $0 ($39,152)$44,104

MONTAUK RISK RETENTION GROUP, INC.16218 $4,809,003 $4,809,003 $4,561,092$4,800,362 ($111,424) $0 ($87,068)$350,694

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 $286,000 $286,000 $99,772$213,833 $38,839 $0 $93,342$146,679

MOUNTAIN LAUREL RRG INC11547 $35,493,500 $4,511,049 $750,651$3,511,263 $1,322,765 $1,245,453 $2,882,164$1,437,847

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 $22,916 $22,916 ($257,695)$22,466 ($704,935) $367,353 $563,723$985,096

NASW RISK RETENTION GROUP, INC.14366 $6,717,087 $3,844,481 $1,484,345$3,513,663 $593,748 $110,872 $562,867$1,435,570

NATIONAL ASSISTED LIVING RRG, INC.11806 $2,347,838 $2,347,838 $1,157,643$1,779,406 ($160,755) $98,656 ($62,099)$782,518

NATIONAL BUILDERS & CONTRACTORS INS12235 $0 ($4,222) ($293)$4,222 ($64,186) $41,495 ($22,271)$68,701

NATIONAL CATHOLIC RRG10083 $19,767,048 $9,271,494 $6,523,137$8,449,136 $16,393 $769,997 $842,750$1,909,607

NATIONAL GUARDIAN RISK RETENTION GROUP36072 $3,223,549 $350,105 $211,161$269,414 ($146,452) $42,984 ($101,559)$204,705

NATIONAL HOME INSURANCE CO RRG44016 $0 $0 $1,202,788$497,995 ($1,154,673) $94,113 ($1,062,159)$449,880

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 $8,515,211 $3,967,962 $2,392,818$3,482,035 ($230,736) $198,247 ($14,765)$1,319,953

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 $0 $0 ($31,388)$0 ($162,687) ($3,247) $184,066$194,075

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 $385,939 $303,439 $0$478,507 $165,110 $93,268 $230,366$313,397

NATIONAL TRANSPORTATION INSURANCE COMPANY RISK RETENTION GROUP, LLC

16011 $10,849,627 $2,141,406 $1,118,133$3,222,518 $222,145 $16,911 $188,854$1,882,240

NCMIC RISK RETENTION GROUP, INC.14130 $6,564,829 $627,335 $156,677$596,767 $814,581 $42,305 $311,346($374,491)

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP13792 $12,448,645 $2,712,934 $1,350,048$1,657,541 ($62,627) $251,610 $95,306$370,120

NEW STAR RISK RETENTION GROUP, INC.12532 $0 $0 $0$0 $0 $0 $0$0

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 $9,843,353 $8,304,587 $4,975,361$7,838,067 $827,288 $166,235 $640,843$2,035,418

OASIS RECIPROCAL RISK RETENTION GROUP13644 $896,034 $3,599,867 $1,428,397$2,692,503 $365,834 $685 $688,813$898,272

OMS NATL INS CO RRG44121 $61,375,069 $57,561,205 $35,476,641$48,415,175 ($6,369,579) $7,825,449 $1,462,929$19,308,113

ONYX INSURANCE COMPANY, INC., A RISK RETENTION GROUP15208 $19,762,634 $16,374,358 $20,436,948$13,665,954 ($10,616,981) $50,031 ($8,324,846)$3,845,987

OOIDA RISK RETENTION GROUP INC10353 $45,283,188 $15,849,116 $11,340,457$14,328,899 ($1,847,102) $762,515 ($809,809)$4,835,544

OPHTHALMIC MUTUAL INS CO RRG44105 $31,954,275 $29,303,932 $17,469,046$27,603,954 ($1,507,575) $6,395,368 $4,543,153$11,642,483

ORANGE COUNTY MEDICAL RECIP INS RRG12183 $649,220 $649,220 $516,621$455,790 ($174,729) $155,912 ($18,817)$113,899

ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION GROUP)14260 $2,356,247 $285,586 $2,150,131$2,194,955 ($337,910) $392,364 ($58,546)$382,734

P&S INSURANCE RISK RETENTION GROUP, INC.15583 $0 $0 $0$0 ($152,373) $0 ($3,871)$152,373

PACE RRG INC11575 $6,723,351 $100,000 $150,000$75,205 ($182,985) $33,116 ($149,869)$108,190

PALLADIUM RISK RETENTION GROUP, INC.15279 $26,096,439 $24,847,168 $18,221,028$18,645,985 ($1,330,917) $1,681,797 $250,182$1,755,874

PARATRANSIT INSURANCE COMPANY, RRG44130 $7,930,175 $5,399,488 $3,236,792$4,752,364 $141,767 $773,443 $660,155$1,373,805

PCH MUTUAL INSURANCE COMPANY, RRG11973 $2,697,588 $1,241,078 $895,159$886,355 ($710,399) $235,409 ($331,838)$701,595

PEACE CHURCH RRG INC11846 $3,073,556 $2,840,971 $1,418,475$2,130,766 ($180,763) $294,514 $538,897$893,054

PELICAN INS RRG11587 $3,649,017 $1,783,788 $2,108,355$1,478,588 ($1,511,420) $723,941 ($787,479)$881,653

PHOEBE RECIPROCAL RRG12004 $387,248 $387,248 $186,547$290,436 ($52,194) $63,034 $10,840$156,083

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 $0 $0 $0$0 $0 $0 $0$0

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 $2,294,399 $1,218,714 $565,377$1,272,607 ($106,801) $12,384 ($73,166)$814,031

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 $15,184,489 $10,816,604 $2,770,768$7,619,490 $3,116,384 $1,101,093 $3,392,752$1,732,338

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 $0 $0 $0$0 $0 $0 $0$0

PHYSICIANS REIMBURSEMENT RRG10934 $2,281,500 $2,281,500 ($272,015)$1,706,437 $778,128 $411,373 $941,059$1,200,324

Analysis of Risk Retention Groups

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COMPANYNAICDirect Premium

WrittenNet Premium

Written

Risk Retention Groups - Selected Statutory Income Statement Data

Net Premium Earned

Loss & Loss Adjusted

Expenses IncurredNet Operating Gains/Losses

Net Investment Gains/Losses Net Income/Loss

Other Underwriting

Expenses

PHYSICIANS SPECIALTY LTD RRG11513 $1,000 $100 ($495,532)$75 $405,873 $693,229 $996,626$89,734

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 $6,124,216 $5,096,216 $1,075,121$3,822,162 $2,056,299 $216,317 $2,272,616$690,742

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 $5,430,704 $5,430,704 $6,136,332$3,943,422 ($2,903,526) $1,548,760 ($1,354,766)$710,616

PLATINUM TRANSPORT INSURANCE RISK RETENTION GROUP, INC.15796 $5,208,796 $3,863,663 $2,462,122$4,388,306 $895,779 $6,877 $862,199$1,030,405

PONCE DE LEON LTC RRG, INC.11809 $0 $0 ($45,143)$0 ($207,980) $148,185 ($59,795)$253,123

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 $24,547,359 $3,567,791 $9,320,466$2,883,374 ($1,203,158) $205,816 ($825,965)($5,233,934)

PREFERRED PHYSICIANS MEDICAL RRG44083 $27,131,962 $0 $335,000$0 ($185,996) $185,996 $0($149,004)

PREFERRED PROFESSIONAL RRG14919 $347,672 $36,506 $26,427$29,363 ($2,157) $0 ($2,157)$5,093

PROASSURANCE AMERICAN MUTUAL, A RISK RETENTION GROUP15647 $5,280,287 $225,373 $165,046$188,552 $617,132 $129,621 $584,805($593,626)

PROBUILDERS SPECIALTY INS CO RRG11671 $0 $0 $98$0 ($301,786) $121,209 ($180,577)$301,688

PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)14461 $4,083,058 $2,575,558 $1,327,931$1,932,696 ($148,507) $183,888 $21,399$753,271

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP

12608 $0 $0 $0$0 $0 $0 $0$0

PROFESSIONALS RISK RETENTION GROUP, INC.13067 $2,734,962 $328,869 $142,647$245,194 $29,000 $9,524 ($107,448)$73,547

PROSPECT MEDICAL HOLDINGS RISK RETENTION GROUP, INC. IC15990 $12,907,449 $9,267,831 $6,358,413$6,776,788 $69,178 $365,500 $293,133$349,197

PUBLIC UTILITY MUTUAL INSURANCE COMPANY, RRG11350 $1,800,149 $1,019,978 $376,987$762,888 ($7,555) $144,684 $137,129$393,456

RECOVER INSURANCE COMPANY RISK RETENTION GROUP, INC.16155 $1,852,803 $603,017 $113,122$362,472 $43,343 $1,190 $44,533$206,007

RECREATION RISK RETENTION GROUP, INC.15905 $1,041,303 $847,904 $229,159$654,741 $22,040 $45,552 $59,389$403,542

RED CLAY RISK RETENTION GROUP, INC.13078 $1,767,579 $1,412,631 $745,438$1,064,912 ($95,890) $141,200 $143,331$415,364

RED ROCK RISK RETENTION GROUP, INC.13736 $1,661,000 $1,661,000 $734,937$1,245,750 $251,887 $52,826 $344,184$258,926

REPUBLIC RRG12019 $0 $0 $0$0 $0 $0 $0$0

RESTORATION RISK RETENTION GROUP, INC.12209 $13,788,887 $12,000,020 $5,264,745$10,529,485 $3,001,873 $1,125,404 $3,038,062$2,262,868

ROMULUS INSURANCE RISK RETENTION GROUP, INC.15744 $750,000 $750,000 $135,000$560,959 $286,303 ($24,964) $261,339$139,656

SAGE RISK RETENTION GROUP, INC.15631 $1,186,833 $1,186,833 $972,996$1,496,916 $45,951 $29,227 $29,271$477,969

SAINT LUKE'S HLTH SYSTEM RRG11712 $4,195,748 $2,723,031 $1,732,732$1,976,240 ($229,982) $361,877 ($134,656)$473,490

SAMARITAN RISK RETENTION GROUP, INC.12511 $7,322,139 $7,322,139 $4,546,349$7,067,926 $1,553,498 $329,280 $1,445,548$968,079

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 $6,172,143 $5,017,718 $2,927,675$4,678,077 ($207,039) $270,082 $328,501$1,957,441

SELECT MD RRG14136 $1,338,732 $211,746 $115,795$155,018 ($62,974) $10,341 ($74,459)$102,197

SENIORSFIRST RISK RETENTION GROUP, INC.16088 $0 $0 $0$0 $0 $0 $0$0

SIGMA RRG, INC.13557 $0 $0 $1,400,568$1,780,132 $165,796 $444,919 $495,677$213,768

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 $0 $0 ($2,145,388)$0 $1,986,594 $49,155 $753,441$158,794

SPIRIT COMMERCIAL AUTO RISK RETENTION GROUP14207 $38,239,279 ($77,767,369) ($44,000,978)($45,868,961) ($18,537,627) $1,650,038 ($11,302,643)$16,669,644

SPIRIT MOUNTAIN INSURANCE COMPANY RRG, INC10754 $2,348,327 $1,979,642 $68,627$1,603,935 $670,418 $30,006 $16,135$864,890

ST CHARLES INS CO RRG11114 $1,875,815 $1,875,815 $226,603$1,880,942 $1,261,028 $432,393 $1,403,514$393,311

ST LUKES HEALTH NETWORK INS CO RRG11688 $3,797,289 $3,797,289 $8,120,354$9,954,947 $1,037,848 $1,139,555 $2,195,847$796,745

STATES SELF-INSURERS RRG44075 $10,153,277 $3,651,094 $1,979,635$3,186,504 $53,283 $445,105 $498,388$1,153,586

STICO MUT INS CO RRG10476 $2,838,838 $2,129,878 $855,040$2,070,702 ($118,450) $687,788 $606,405$1,334,112

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 $2,675,597 $2,675,597 $75,625$0 ($2,370) $4,189 $1,516($73,255)

SUNLAND RISK RETENTION GROUP, INC.14026 $5,237,923 $5,237,923 $268,396$400,845 ($52,477) $0 ($16,695)$173,912

TERRA INS CO RRG10113 $7,995,247 $5,431,246 $1,123,187$5,431,244 $1,469,070 $293,303 $1,551,229$2,838,987

TERRAFIRMA RISK RETENTION GROUP LLC14395 $1,526,211 $1,526,211 $704,420$1,118,126 $36,058 $91,328 $131,911$377,648

THE HEALTHCARE UNDERWRITING CO RRG10152 $30,718,365 $30,718,365 $25,412,479$26,775,031 ($538,838) $995,739 $794,710$1,901,390

TITAN INS CO INC RRG11153 $24,761,377 $3,657,209 $0$3,059,696 $1,933,637 $281,246 $3,072,908$1,126,059

TITLE INDUSTRY ASSURANCE CO RRG10084 $4,025,933 $896,631 $606,346$866,286 $107,630 $113,743 $175,753$152,310

TOWER HEALTH RECIPROCAL RISK RETENTION GROUP16224 $0 $0 $1,844,818$2,957,999 $841,834 $47,399 $753,162$271,347

Analysis of Risk Retention Groups

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COMPANYNAICDirect Premium

WrittenNet Premium

Written

Risk Retention Groups - Selected Statutory Income Statement Data

Net Premium Earned

Loss & Loss Adjusted

Expenses IncurredNet Operating Gains/Losses

Net Investment Gains/Losses Net Income/Loss

Other Underwriting

Expenses

TRANSPORT RISK SOLUTIONS RISK RETENTION GROUP, INC.16025 $0 $0 $0$0 ($192,800) $3,122 $41,567$192,800

TRANSPORTATION INSURANCE SERVICES RISK RETENTION GROUP, INC.15767 $311,000 $311,000 $179,332$326,750 $18,568 $0 $14,669$128,850

TRINITY RISK SOLUTIONS RECIPROCAL INSURANCE COMPANY RRG11958 $2,830,462 $1,728,320 $1,148,662$1,189,799 ($681,164) $185,770 ($452,746)$722,301

UC HEALTH, RRG A RECIPROCAL RISK RETENTION GROUP16015 $78,797 $65,336 $6,199$9,162 ($296,423) ($68,947) ($293,826)$299,386

UNITED CENTRAL PA RRG11548 $6,275,340 $6,275,340 $5,213,602$4,706,505 ($821,050) $209,510 ($611,540)$313,953

UNITED EDUCATORS INS RRG INC10020 $159,584,377 $130,270,417 $84,609,448$115,522,698 $4,220,342 $18,821,718 $23,533,887$26,692,908

UNITED HOME INSURANCE CO A RRG10712 $0 $0 $0$68,824 ($34,051) $945 ($26,154)$102,875

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 $1,283,439 $924,309 $489,090$1,012,366 $116,304 $30,379 $62,439$406,972

URGENT MD RISK RETENTION GROUP, INC.15908 $6,573,311 $5,472,449 $1,463,967$3,984,820 $1,747,590 $0 $1,380,596$773,263

UV INSURANCE RISK RETENTION GROUP, INC.13988 $300,000 $300,000 $24,037$222,917 $19,028 $0 $19,028$179,852

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 $0 $0 $0$0 ($14,344) $34,900 $19,353$14,344

VELOCITY INSURANCE COMPANY, A RISK RETENTION GROUP15956 $525,000 $525,000 $75,000$407,192 $179,225 $0 $179,225$152,967

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 $1,281,282 $202,695 $449,854$209,310 ($386,288) $7,227 ($338,006)$145,744

WELLSPAN RRG11682 $10,843,000 $10,843,000 $6,864,455$8,109,970 $824,574 $294,388 $1,118,962$420,941

WESTERN CATHOLIC INSURANCE COMPANY RRG14122 $0 $0 $0$0 $0 $0 $0$0

WESTERN PACIFIC MUT INS CO RRG40940 $3,714,666 $3,114,213 $2,313,303$1,957,792 ($3,212,969) $3,105,752 ($592,836)$2,857,458

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 $7,399,051 $5,002,142 $757,984$3,598,299 $972,958 $369,415 $1,342,373$1,867,358

Analysis of Risk Retention Groups

Page 33: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

COMPANYNAIC

Liquidity

Cash to Losses and

LAE Reserves

Risk Retention Groups - Selected Financial Ratios

Leverage

Loss & LAE Reserves to

PHS NPW to PHSLoss & LAE

Ratio Expense RatioDPW to PHSCombined

Ratio

ACADEMIC MEDICAL PROFESSIONALS INSURANCE EXCHANGE RISK RETENTION GROUP12934 47.96 289.66 62.3386.58 31.04 52.22 43.6234.88 95.83

ADVANCED PHYSICIANS INS RRG INC12166 5.80 0.00 0.005.72 10.37 -13.74 66.0510.37 52.31

AEGIS HEALTHCARE RRG, INC.12252 134.23 104.67 71.73100.78 40.56 69.72 28.2370.51 97.96

AFFILIATES INSURANCE RECIPROCAL, A RISK RETENTION GROUP13677 26.21 917.15 12.5730.21 6.13 81.47 19.0924.17 100.57

AGGREGATE SECURITY INSURANCE GROUP, A RISK RETENTION GROUP13606 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

AGRI INSURANCE EXCHANGE RRG28380 16.42 784.97 15.1819.56 5.64 0.23 23.735.64 23.96

ALLEGIANT INS CO INC A RRG11965 62.97 276.94 64.73112.89 35.63 45.18 12.1789.08 57.35

ALLIANCE OF NONPROFITS FOR INS RRG10023 80.66 173.97 141.47198.52 73.39 68.00 28.16102.25 96.16

ALLIED GUARANTY INSURANCE COMPANY13024 199.36 2,968.03 4.06240.20 30.77 50.65 11.993.20 62.64

ALLIED PREMIER INSURANCE A RRG15639 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

ALLIED PROFESSIONALS INSURANCE COMPANY, RRG11710 65.07 214.26 91.96128.21 36.49 58.79 44.8148.96 103.60

ALLIED SERVICES RISK RETENTION GROUP12013 41.35 387.48 43.5369.75 28.22 117.56 18.5628.22 136.12

AMERICAN ASSOC OF OTHODONTISTS RRG10232 66.89 192.38 146.18188.11 34.36 52.74 25.8234.36 78.56

AMERICAN BUILDERS INSURANCE COMPANY RRG, INC.12631 143.24 199.36 66.39189.57 214.75 44.53 32.10243.85 76.63

AMERICAN CAR DEALERS RRG INC.16182 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

AMERICAN CONTRACTORS INS CO RRG12300 245.06 0.00 0.00266.26 0.00 0.00 0.00503.03 0.00

AMERICAN EXCESS INS EXCHANGE RRG10903 48.98 231.67 81.7292.73 14.10 170.96 19.3815.84 190.34

AMERICAN FOREST CASUALTY COMPANY RRG11590 57.72 272.66 71.67112.79 45.03 65.91 29.2757.72 95.17

AMERICAN RISK MGMT RRG INC.15853 78.92 180.82 117.66167.91 107.66 58.12 41.59107.66 99.72

AMERICAN TRUCKING AND TRANSPORTATION INSURANCE COMPANY, RRG11534 123.63 111.32 412.26567.36 147.05 77.03 35.29304.27 112.32

A-ONE COMMERCIAL INSURANCE RISK RETENTION GROUP, INC.15597 109.92 148.34 302.43493.11 266.69 82.29 22.11310.41 104.40

APPLIED MEDICO-LEGAL SOLUTIONS RRG, INC.11598 91.67 163.40 148.87222.99 93.34 69.45 28.1393.34 97.58

ARCHITECTS & ENGINEERS INS CO RRG44148 71.32 366.47 35.1091.74 6.24 70.00 57.2028.50 127.20

ARCOA RISK RETENTION GROUP, INC.13177 62.66 169.33 137.71146.12 117.21 45.60 42.15117.21 87.75

ARISE BOILER INSPECTION AND INSURANCE COMPANY RISK RETENTION GROUP13580 31.24 2,714.33 4.2235.79 33.47 0.00 38.2335.28 38.23

ASSET PROTECTION PROGRAM RISK RETENTION GROUP, INC.12224 4.21 2,635.44 3.894.31 0.00 0.00 0.000.00 0.00

ASSOCIATION OF CERTIFIED MORTGAGE ORIGINATORS RISK RETENTION GROUP, INC.14425 108.88 1,475.75 6.68107.34 10.55 24.05 27.98128.18 52.03

ATTORNEYS INSURANCE MUTUAL OF THE SOUTH, INC RRG33677 58.70 410.80 56.89137.18 18.58 99.37 172.4761.65 271.83

ATTORNEYS INSURANCE MUTUAL RRG INC22670 52.21 292.75 69.34105.98 36.61 72.66 36.3358.11 109.00

ATTORNEYS LIAB ASSUR SOCIETY INC RRG10639 61.22 216.46 117.56155.78 25.08 68.06 15.1244.94 83.18

ATTPRO RRG RECIPROCAL RISK RETENTION GROUP13795 143.83 1,181.20 16.86286.46 8.64 74.81 31.30431.76 106.11

AVIATION ALLIANCE INSURANCE RISK RETENTION GROUP, INC.13791 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

BAR VERMONT RISK RETENTION GROUP INC10174 28.14 650.50 17.5032.04 0.00 59.07 0.000.00 0.00

BAY INSURANCE RISK RETENTION GROUP, INC.15582 55.06 0.00 0.0029.00 0.00 0.00 0.000.00 0.00

BEACONHARBOR MUTUAL RISK RETENTION GROUP14487 37.61 0.00 0.001.81 0.03 0.00 1,139.861.62 1,139.86

BEDFORD PHYSICIANS RISK RETENTION GROUP, INC.12933 132.67 84.67 370.88416.62 126.42 90.87 3.34191.48 94.21

BONDED BUILDERS INSURANCE COMPANY, A RISK RETENTION GROUP13010 46.62 1,384.39 11.5274.32 28.93 5.38 58.4034.05 63.78

BROADLINE RISK RETENTION GROUP, INC.13788 86.53 145.62 219.78276.94 73.62 100.70 7.4281.80 108.12

BTTS INSURANCE RISK RETENTION GROUP, INC.15591 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

C.A.R. RISK RETENTION GROUP, INC.15921 147.11 72.42 44.8647.79 63.60 75.60 29.4263.60 105.02

CALIFORNIA HEALTHCARE INS CO INC RRG44504 59.31 215.62 90.66115.95 26.35 89.13 9.2239.00 98.35

CALIFORNIA MEDICAL GRP INS CO RRG12180 95.63 132.07 292.70369.65 114.13 111.22 13.70114.13 124.92

CARE RISK RETENTION GROUP, INC.11825 117.21 111.71 274.79359.81 97.67 71.57 30.01109.89 101.58

CAREGIVERS UNITED LIAB INS CO RRG11544 39.99 302.56 50.4261.00 16.41 40.45 11.9317.74 52.38

CARING COMMUNITIES, A RECIPROCAL RISK RETENTION GROUP12373 47.42 477.97 32.2673.11 19.86 70.00 17.6753.10 87.67

Analysis of Risk Retention Groups

Page 34: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

COMPANYNAIC

Liquidity

Cash to Losses and

LAE Reserves

Risk Retention Groups - Selected Financial Ratios

Leverage

Loss & LAE Reserves to

PHS NPW to PHSLoss & LAE

Ratio Expense RatioDPW to PHSCombined

Ratio

CASSATT RISK RETENTION GROUP INC10808 288.98 6,321.21 2.40437.70 2.72 128.16 51.73482.00 179.89

CENTRAL PA PHYSICIANS RRG INC11694 58.12 239.69 82.50114.93 46.61 110.29 30.0146.61 140.31

CENTURION MEDICAL LIABILITY PROTECTIVE RRG, INC.11976 56.64 306.21 48.9084.81 49.50 65.11 27.5741.28 92.67

CHEROKEE GUARANTEE COMPANY INC., RRG14388 92.50 121.96 400.70452.04 173.15 72.36 7.77173.15 80.12

CIRCLE STAR INS CO RRG11839 107.80 468.74 29.94151.31 18.78 70.04 -107.76375.67 -37.72

CLAIM PROFESSIONALS LIAB INS CO RRG12172 62.54 467.60 30.1688.19 21.14 48.09 50.3490.14 98.43

CLARIAN HLTH RRG INC11992 104.28 0.00 0.00184.23 736.81 0.00 13.53736.81 0.00

CMIC RISK RETENTION GROUP13756 76.56 282.93 69.12149.73 3.18 99.43 -39.0588.12 60.38

COLLEGE LIABILITY INS CO A RECIP RRG44598 56.25 284.45 78.61125.78 62.12 13.50 10.4862.12 23.98

COLLEGE RISK RETENTION GROUP, INC.13613 92.08 202.12 111.74207.95 53.73 72.63 18.6164.47 91.24

COLUMBIA NATIONAL RRG INC10803 39.40 0.00 0.0061.52 20.96 0.00 52.5920.96 52.59

COMCARE PRO INS RECIPROCAL RRG11864 113.16 213.61 97.92236.70 199.45 124.02 8.94199.45 132.96

COMMERCIAL HIRECAR INSURANCE COMPANY, A RISK RETENTION GROUP15836 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

COMMUNITIES OF FAITH RRG INC11807 12.29 1,020.31 10.5613.25 7.80 43.47 48.097.80 91.56

COMMUNITY BLOOD CENTERS EXCH RRG13893 19.29 956.28 12.1422.39 7.27 31.42 58.0612.07 89.48

COMMUNITY CARE RISK RETENTION GROUP, INC.15798 125.80 136.33 230.54395.38 122.31 67.16 10.29156.21 77.45

COMMUNITY HEALTH ALLIANCE RECIP RRG11536 77.76 184.46 168.22241.28 0.00 0.00 0.000.00 0.00

COMMUNITY HOSPITAL RRG11259 46.94 245.23 71.5882.38 12.78 46.76 5.3728.18 52.13

COMPASS SPECIALTY INSURANCE RISK RETENTION GROUP, INC.15867 77.69 270.09 89.16187.07 104.51 55.22 35.22139.12 90.44

CONSUMER SPECIALTIES INSURANCE COMPANY RRG10075 46.53 240.09 73.3781.96 10.97 43.71 128.1124.55 171.83

CONTINUING CARE RRG, INC.11798 180.68 130.11 141.64332.97 39.75 569.81 202.77300.19 772.59

CONTRACTORS INS CO OF NORTH AMER RRG11603 63.37 201.18 73.7994.06 7.36 81.40 58.0240.88 139.42

CONTROLLED RISK INS CO OF VT RRG10341 42.81 390.20 43.1472.06 60.44 39.12 39.36402.88 78.48

COPIC, A RISK RETENTION GROUP14906 50.49 5,431.35 2.3464.18 2.58 35.93 -122.9656.38 -87.03

COUNTY HALL INSURANCE COMPANY, INC., A RISK RETENTION GROUP15947 151.26 215.06 73.78240.01 186.36 65.94 14.88221.85 80.83

COVERYS RRG, INC.14160 75.84 747.76 24.90141.20 10.38 -123.22 35.97245.85 -87.25

CPA MUTUAL INS CO OF AMERICA RRG10164 80.82 175.80 126.93180.34 57.25 85.00 23.70104.83 108.70

CROSSFIT RISK RETENTION GROUP, INC.13720 71.42 301.16 83.43179.46 86.34 37.69 50.82115.09 88.50

CRUDEN BAY RRG INC11676 69.58 161.69 199.68224.65 39.48 100.00 8.3439.48 108.34

CRYSTAL RUN RECIPROCAL RISK RETENTION GROUP13655 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

DAN RISK RETENTION GROUP, INC.15928 82.99 1,993.63 20.80344.15 16.78 205.33 -0.94187.05 204.38

DOCTORS COMPANY RISK RETENTION GROUP, A RECIPROCAL EXCHANGE14347 141.51 210.52 27.8082.82 -19.97 122.36 -38.9542.20 83.40

DOCTORS PROFESSIONAL LIABILITY RRG, INC.15893 87.91 277.74 71.87175.49 90.14 66.83 36.81104.58 103.64

DUBOIS MEDICAL RRG11842 37.35 429.08 36.4058.34 19.43 335.81 19.7919.43 355.61

EAGLE BUILDERS INSURANCE COMPANY RISK RETENTION GROUP, INC.16104 42.26 2,376.25 6.5565.73 16.40 187.65 203.2016.40 390.85

EASTERN DENTISTS INS CO RRG10115 64.60 219.58 94.45133.97 33.10 55.06 43.0139.05 98.07

ELITE TRANSPORTATION RRG INC10125 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

EMERGENCY CAPITAL MANAGEMENT, LLC, RRG14163 68.10 167.69 139.46159.27 1.87 0.00 262.020.00 262.02

EMERGENCY MEDICINE PROFESSIONAL ASSURANCE COMPANY RRG (EMPAC)12003 70.59 244.18 73.99127.53 55.75 68.15 37.8764.12 106.02

EMERGENCY PHYSICIANS INSURANCE EXCHANGE RRG (EPIX)11714 74.58 159.18 149.01176.91 43.86 87.20 34.4348.48 121.63

EVERGREEN USA RRG INC38466 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

EXCELA RECIPROCAL RRG15337 79.10 138.81 243.29267.14 88.40 87.74 8.4188.40 96.15

FIRST MEDICAL INS CO RRG11278 70.20 174.61 127.55156.35 31.71 93.69 3.7031.71 97.38

FORT WAYNE MEDICAL SURETY COMPANY, RRG12625 35.16 613.01 24.3952.57 29.22 41.53 34.0429.22 75.57

FRANKLIN CASUALTY INS CO RRG10842 645.06 84.43 165.30900.28 78.37 62.82 29.741,068.23 92.56

Analysis of Risk Retention Groups

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COMPANYNAIC

Liquidity

Cash to Losses and

LAE Reserves

Risk Retention Groups - Selected Financial Ratios

Leverage

Loss & LAE Reserves to

PHS NPW to PHSLoss & LAE

Ratio Expense RatioDPW to PHSCombined

Ratio

FREDERICKSBURG PROFESSIONAL RISK EXC12016 53.26 194.85 62.4864.84 17.94 95.86 7.6817.94 103.54

GABLES RISK RETENTION GROUP, INC.14032 54.05 246.19 78.58104.57 65.45 55.99 7.1165.45 63.10

GEISINGER INS CORP RRG12000 526.03 596.70 4.27133.88 11.12 52.23 40.70171.14 92.93

GERIC INSURANCE RISK RETENTION GROUP, INC.13782 4.97 0.00 0.005.23 2.71 -103.64 89.704.09 -13.94

GLOBAL HAWK INSURANCE COMPANY RRG11948 96.25 176.49 429.98730.43 93.62 131.37 68.55204.90 199.92

GOLDEN INS CO RRG11145 120.16 215.20 287.28742.85 175.48 97.88 32.92241.68 130.81

GOOD SHEPHERD RECIPROCAL RISK RETENTION GROUP, INC.12512 42.92 284.35 53.1864.89 45.35 51.77 6.8345.35 58.60

GOVERNMENT TECHNOLOGY INSURANCE COMPANY RISK RETENTION GROUP, INC.13973 110.68 5,485.65 1.0966.22 91.12 4.18 56.98119.47 61.16

GRACO RRG INC11581 62.33 0.00 0.0060.64 0.00 0.00 0.00244.58 0.00

GRAPH INSURANCE COMPANY, A RISK RETENTION GROUP LLC16415 0.24 0.00 0.000.24 0.00 0.00 0.000.00 0.00

GREEN HILLS INS CO RRG11941 84.17 242.17 75.45153.78 83.21 1.64 18.2183.21 19.85

GUARDIAN RRG INC11696 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

GUTHRIE RRG12014 76.71 154.44 180.34213.65 42.64 54.51 5.0142.64 59.53

HAMDEN ASSURANCE RRG, INC.13057 2,541.07 0.00 0.007,107.00 0.00 0.00 0.000.00 0.00

HEALTH CARE CAS RRG INC12236 74.81 142.94 154.45165.16 0.00 -134.40 0.000.00 0.00

HEALTH CARE INDUSTRY LIABILITY RECIPROCAL INSURANCE COMPANY, RRG11832 117.94 320.28 51.80195.65 17.78 76.40 -160.95199.19 -84.55

HEALTH NETWORK PROVIDERS MUT INS CO11813 72.97 168.50 152.22187.16 32.17 60.63 21.2138.61 81.83

HEALTH PROVIDERS INS RECIPROCAL RRG10080 33.01 388.26 35.7745.85 8.67 159.75 33.0411.25 192.78

HEALTHCARE PROVIDERS INS CO RRG11683 45.22 295.08 57.2176.34 18.84 77.37 39.1319.54 116.50

HOME CONSTRUCTION INS CO RRG11950 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

HOSPITALITY RISK RETENTION GROUP, INC.16038 96.67 180.30 135.53236.23 117.84 88.25 38.12148.86 126.36

HOUSING AUTHORITY RRG INC26797 41.53 329.10 48.0665.70 13.51 56.21 39.8114.92 96.01

HPIC RISK RETENTION GROUP15866 9.93 3,574.00 3.0910.96 0.06 163.53 11,234.270.69 11,397.81

ICI MUTUAL INSURANCE COMPANY, A RISK RETENTION GROUP11268 30.17 663.03 19.2538.51 7.43 21.80 40.3421.57 62.15

INDIANA HEALTHCARE RECIP RRG11692 38.66 288.84 54.6761.06 22.26 53.60 18.4922.26 72.09

INNOVATIVE PHYSICIAN SOLUTIONS RRG12320 105.33 135.88 264.17378.08 118.16 57.64 28.91138.76 86.55

IQS INSURANCE RISK RETENTION GROUP, INC.15080 121.74 175.61 31.4367.20 42.18 32.22 31.4742.18 63.69

IRONSHORE RISK RETENTION GROUP, INC.14375 169.00 67.35 29.6033.70 -0.04 0.00 -64,727.97-0.72 -64,727.97

J.M. WOODWORTH RRG, INC.12594 81.67 122.45 427.16427.16 0.00 0.00 0.000.00 0.00

KENTUCKIANA MEDICAL RECIPROCAL RRG11872 35.41 313.27 43.7648.55 11.88 119.18 21.9814.07 141.16

KENTUCKY HOSPITAL INS CO RRG11939 55.76 225.38 91.77115.33 50.47 28.23 17.7250.47 45.95

LAMMICO RRG, INC.14444 5.27 5,410.67 1.905.43 0.81 137.72 -128.2523.71 9.47

LANCET INDEMNITY RISK RETENTION GROUP, INC.13014 131.98 87.57 1,543.181,783.44 842.64 62.94 32.60292.78 95.53

LONE STAR ALLIANCE, INC., A RISK RETENTION GROUP15211 166.26 248.38 90.64374.33 27.85 181.18 -152.30720.00 28.88

LVHN RRG11684 125.63 0.00 0.001,740.51 387.28 0.00 3.89387.28 0.00

MAKE TRANSPORTATION INSURANCE, INC., A RISK RETENTION GROUP12554 62.17 161.22 128.53128.83 -12.22 128.92 -77.28-18.09 51.64

MARATHON FIN INS CO INC RRG11117 70.98 0.00 0.00212.53 8.60 0.00 228.218.60 228.21

MCIC VERMONT INC RRG10697 74.31 167.81 183.41228.71 44.03 114.41 11.2545.77 125.66

MD RISK RETENTION GROUP, INC.12355 35.19 321.12 40.9446.26 15.00 35.16 19.5521.48 54.71

MED MAL RISK RETENTION GROUP, INC.14446 61.63 501.38 37.51115.92 3.16 161.23 210.8269.99 372.04

MEDAMERICA MUTUAL RRG INC26257 57.32 220.94 88.46112.03 40.50 81.04 4.1255.58 85.15

MEDCHOICE RISK RETENTION GROUP, INC.15738 247.99 1,278.91 8.26261.92 20.09 73.65 538.08401.80 611.73

MEDPRO RRG RISK RETENTION GROUP13589 191.61 525.93 137.441,385.09 31.62 84.70 33.111,582.94 117.81

MENTAL HEALTH RISK RETENTION GROUP44237 47.38 302.01 53.7676.94 19.57 48.20 22.2549.24 70.45

MICA RISK RETENTION GROUP, INC.15527 0.22 0.00 0.000.22 0.00 0.00 0.000.00 0.00

Analysis of Risk Retention Groups

Page 36: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

COMPANYNAIC

Liquidity

Cash to Losses and

LAE Reserves

Risk Retention Groups - Selected Financial Ratios

Leverage

Loss & LAE Reserves to

PHS NPW to PHSLoss & LAE

Ratio Expense RatioDPW to PHSCombined

Ratio

MIDWEST INSURANCE GROUP, INC., A RISK RETENTION GROUP11999 97.83 141.66 218.18302.36 116.01 46.35 54.45138.51 100.80

MLM RISK RETENTION GROUP, INC.16026 1.49 639,001.33 0.021.50 0.15 -181.80 1,359.613.22 1,177.81

MMIC RRG, INC.14062 10.90 0.00 0.004.54 0.32 0.00 2,024.057.20 2,024.05

MONTAUK RISK RETENTION GROUP, INC.16218 68.20 148.62 171.45173.79 173.27 95.02 7.29173.27 102.31

MOUNTAIN LAKE RISK RETENTION GROUP, INC.13812 193.71 101.31 31.4061.61 27.49 46.66 51.2927.49 97.95

MOUNTAIN LAUREL RRG INC11547 64.38 224.70 113.65164.42 59.76 21.38 31.87470.18 53.25

MOUNTAIN STATES HEALTHCARE RECIP RRG11585 85.88 117.50 239.44241.60 0.10 -1,147.04 4,298.730.10 3,151.68

NASW RISK RETENTION GROUP, INC.14366 43.16 559.61 24.1758.38 32.92 42.24 37.3457.52 79.59

NATIONAL ASSISTED LIVING RRG, INC.11806 53.81 309.30 60.0599.94 53.04 65.06 33.3353.04 98.39

NATIONAL BUILDERS & CONTRACTORS INS12235 63.20 171.85 81.6388.66 -0.31 -6.94 -1,627.210.00 -1,634.15

NATIONAL CATHOLIC RRG10083 86.30 167.04 280.99405.04 59.70 77.20 20.60127.27 97.80

NATIONAL GUARDIAN RISK RETENTION GROUP36072 92.85 306.38 40.00113.80 5.71 78.38 58.4752.55 136.85

NATIONAL HOME INSURANCE CO RRG44016 54.89 320.95 70.03123.37 0.00 241.53 0.000.00 0.00

NATIONAL INDEPENDENT TRUCKERS IC RRG11197 84.93 227.48 48.1793.07 44.63 68.72 33.2795.77 101.98

NATIONAL MEDICAL PROFESSIONAL RISK RETENTION GROUP, INC.12529 4.66 0.00 0.004.88 0.00 0.00 0.000.00 0.00

NATIONAL SERVICE CONTRACT INSURANCE COMPANY (RRG)10234 46.94 0.00 0.0075.65 12.80 0.00 103.2816.27 103.28

NATIONAL TRANSPORTATION INSURANCE COMPANY RISK RETENTION GROUP, LLC16011 90.16 486.07 42.99188.42 51.09 34.70 87.90258.87 122.59

NCMIC RISK RETENTION GROUP, INC.14130 60.97 385.39 23.2654.65 12.12 26.25 -59.70126.87 -33.44

NEW HOME WARRANTY INSURANCE COMPANY, A RISK RETENTION GROUP13792 84.24 1,203.52 26.34267.09 39.20 81.45 13.64179.86 95.09

NEW STAR RISK RETENTION GROUP, INC.12532 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

NEW YORK HEALTHCARE INSURANCE COMPANY, INC., RRG12275 131.97 112.48 326.94485.31 165.97 63.48 24.51196.72 87.99

OASIS RECIPROCAL RISK RETENTION GROUP13644 85.92 187.65 197.75318.84 108.31 53.05 24.9526.96 78.00

OMS NATL INS CO RRG44121 44.81 333.94 46.9670.26 20.99 73.28 33.5422.38 106.82

ONYX INSURANCE COMPANY, INC., A RISK RETENTION GROUP15208 205.53 87.09 1,551.892,777.82 1,203.44 149.55 23.491,452.46 173.03

OOIDA RISK RETENTION GROUP INC10353 132.42 174.40 147.63340.93 68.44 79.14 30.51195.55 109.65

OPHTHALMIC MUTUAL INS CO RRG44105 27.87 658.51 20.1436.96 13.33 63.28 39.7314.54 103.01

ORANGE COUNTY MEDICAL RECIP INS RRG12183 27.58 498.55 26.2136.05 14.52 113.35 17.5414.52 130.89

ORTHOFORUM INSURANCE COMPANY (A RISK RETENTION GROUP)14260 104.60 106.97 559.13625.62 10.01 97.96 134.0282.61 231.97

P&S INSURANCE RISK RETENTION GROUP, INC.15583 269.71 0.00 0.0083.86 0.00 0.00 0.000.00 0.00

PACE RRG INC11575 170.04 1,024.59 14.40250.90 3.25 199.45 108.19218.20 307.64

PALLADIUM RISK RETENTION GROUP, INC.15279 90.12 139.31 380.04477.13 151.57 97.72 7.07159.19 104.79

PARATRANSIT INSURANCE COMPANY, RRG44130 60.45 263.67 67.96108.32 33.76 68.11 25.4449.58 93.55

PCH MUTUAL INSURANCE COMPANY, RRG11973 77.59 304.88 85.40202.02 49.09 100.99 56.53106.71 157.52

PEACE CHURCH RRG INC11846 26.99 482.52 26.7034.77 16.93 66.57 31.4318.32 98.01

PELICAN INS RRG11587 46.23 276.61 60.6277.52 18.75 142.59 49.4338.35 192.02

PHOEBE RECIPROCAL RRG12004 29.62 378.37 35.0239.25 12.39 64.23 40.3112.39 104.54

PHYSICIANS CASUALTY RISK RETENTION GROUP, INC.13995 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

PHYSICIANS INDEMNITY RISK RETENTION GROUP, INC.12746 168.57 156.06 123.83325.75 74.31 44.43 66.79139.91 111.22

PHYSICIANS PROACTIVE PROTECTION, INC. RISK RETENTION GROUP12507 73.38 211.48 121.87189.12 33.93 36.36 16.0247.63 52.38

PHYSICIANS PROFESSIONAL LIABILTY RRG11514 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

PHYSICIANS REIMBURSEMENT RRG10934 60.86 174.50 135.23143.60 18.03 -15.94 52.6118.03 36.67

PHYSICIANS SPECIALTY LTD RRG11513 39.65 303.60 37.8845.60 0.00 -660,709.33 89,734.000.01 -570,975.33

PIH INSURANCE COMPANY, A RECIPROCAL RISK RETENTION GROUP13582 23.21 579.41 20.2527.22 25.59 28.13 13.5530.75 41.68

PINNACLE CONSORTIUM OF HIGHER ED RRG11980 60.44 200.53 123.39149.53 19.73 155.61 13.0919.73 168.69

PLATINUM TRANSPORT INSURANCE RISK RETENTION GROUP, INC.15796 111.12 154.29 200.64344.00 172.75 56.11 26.67232.90 82.78

Analysis of Risk Retention Groups

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COMPANYNAIC

Liquidity

Cash to Losses and

LAE Reserves

Risk Retention Groups - Selected Financial Ratios

Leverage

Loss & LAE Reserves to

PHS NPW to PHSLoss & LAE

Ratio Expense RatioDPW to PHSCombined

Ratio

PONCE DE LEON LTC RRG, INC.11809 22.00 461.38 27.5127.92 0.00 0.00 0.000.00 0.00

PREFERRED CONTRACTORS INSURANCE COMPANY RRG, LLC12497 203.83 70.09 509.52727.92 23.73 323.25 -146.70163.28 176.55

PREFERRED PHYSICIANS MEDICAL RRG44083 105.19 652.01 56.56387.90 0.00 0.00 0.00542.64 0.00

PREFERRED PROFESSIONAL RRG14919 55.70 752.06 10.9145.69 6.06 90.00 13.9557.73 103.95

PROASSURANCE AMERICAN MUTUAL, A RISK RETENTION GROUP15647 22.22 4,420.93 2.3723.32 2.05 87.53 -263.4048.00 -175.86

PROBUILDERS SPECIALTY INS CO RRG11671 1.89 53,119.83 0.161.61 0.00 0.00 0.000.00 0.00

PROFESSIONAL EXCHANGE ASSURANCE COMPANY (A RISK RETENTION GROUP)14461 59.75 174.74 135.38141.35 43.76 68.71 29.2569.37 97.96

PROFESSIONAL QUALITY LIABILITY INSURANCE COMPANY, A RISK RETENTION GROUP12608 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

PROFESSIONALS RISK RETENTION GROUP, INC.13067 105.22 238.92 63.92160.70 27.20 58.18 22.36226.24 80.54

PROSPECT MEDICAL HOLDINGS RISK RETENTION GROUP, INC. IC15990 123.32 132.60 352.11575.77 178.39 93.83 3.77248.44 97.59

PUBLIC UTILITY MUTUAL INSURANCE COMPANY, RRG11350 17.10 769.52 15.3520.20 15.24 49.42 38.5726.90 87.99

RECOVER INSURANCE COMPANY RISK RETENTION GROUP, INC.16155 32.77 2,474.82 4.3635.33 30.79 31.21 34.1694.60 65.37

RECREATION RISK RETENTION GROUP, INC.15905 32.41 636.14 19.5840.37 26.78 35.00 47.5932.89 82.59

RED CLAY RISK RETENTION GROUP, INC.13078 53.83 234.29 57.7772.87 26.62 70.00 29.4033.30 99.40

RED ROCK RISK RETENTION GROUP, INC.13736 54.69 223.16 77.9695.14 56.57 59.00 15.5956.57 74.58

REPUBLIC RRG12019 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

RESTORATION RISK RETENTION GROUP, INC.12209 63.41 200.45 96.53122.70 30.09 50.00 18.8634.58 68.86

ROMULUS INSURANCE RISK RETENTION GROUP, INC.15744 61.82 322.19 22.0143.83 30.85 24.07 18.6230.85 42.69

SAGE RISK RETENTION GROUP, INC.15631 136.53 103.30 258.98365.26 110.01 65.00 40.27110.01 105.27

SAINT LUKE'S HLTH SYSTEM RRG11712 64.07 217.64 43.3660.46 32.38 87.68 17.3949.88 105.07

SAMARITAN RISK RETENTION GROUP, INC.12511 45.57 394.68 43.5978.39 28.96 64.32 13.2228.96 77.54

SCRUBS MUTUAL ASSURANCE COMPANY RISK RETENTION GROUP12988 109.00 116.79 226.18287.94 123.19 62.58 39.01151.53 101.59

SELECT MD RRG14136 78.11 260.51 75.76154.16 27.29 74.70 48.26172.52 122.96

SENIORSFIRST RISK RETENTION GROUP, INC.16088 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

SIGMA RRG, INC.13557 56.47 192.56 114.66124.69 0.00 78.68 0.000.00 0.00

SOUTHWEST PHYSICIANS RISK RETENTION GROUP, INC.12907 36.91 320.51 48.9157.85 0.00 0.00 0.000.00 0.00

SPIRIT COMMERCIAL AUTO RISK RETENTION GROUP14207 474.30 0.00 0.002,024.44 -2,679.93 95.93 -21.441,317.76 74.49

SPIRIT MOUNTAIN INSURANCE COMPANY RRG, INC10754 57.05 415.54 47.57112.77 65.51 4.28 43.6977.71 47.97

ST CHARLES INS CO RRG11114 14.10 905.58 12.5316.00 11.38 12.05 20.9711.38 33.01

ST LUKES HEALTH NETWORK INS CO RRG11688 69.60 152.35 186.03197.26 16.42 81.57 20.9816.42 102.55

STATES SELF-INSURERS RRG44075 67.40 187.53 145.22183.55 35.44 62.13 31.6098.57 93.72

STICO MUT INS CO RRG10476 47.74 451.31 37.9181.67 16.57 41.29 62.6422.08 103.93

SUBURBAN HEALTH ORGANIZATION RISK RETENTION GROUP, LLC13135 55.08 0.00 0.0018.53 386.26 0.00 -2.74386.26 0.00

SUNLAND RISK RETENTION GROUP, INC.14026 370.17 215.70 24.35194.39 335.88 66.96 3.32335.88 70.28

TERRA INS CO RRG10113 38.88 1,292.15 10.7353.90 30.07 20.68 52.2744.26 72.95

TERRAFIRMA RISK RETENTION GROUP LLC14395 36.34 373.73 41.5856.47 31.08 63.00 24.7431.08 87.74

THE HEALTHCARE UNDERWRITING CO RRG10152 107.43 116.50 285.87357.79 89.12 94.91 6.1989.12 101.10

TITAN INS CO INC RRG11153 22.77 0.00 0.0027.34 6.41 0.00 30.7943.40 30.79

TITLE INDUSTRY ASSURANCE CO RRG10084 48.22 340.32 40.3966.29 18.07 69.99 16.9981.15 86.98

TOWER HEALTH RECIPROCAL RISK RETENTION GROUP16224 49.58 212.25 89.2993.96 0.00 62.37 0.000.00 0.00

TRANSPORT RISK SOLUTIONS RISK RETENTION GROUP, INC.16025 422.19 0.00 0.0074.24 0.00 0.00 0.000.00 0.00

TRANSPORTATION INSURANCE SERVICES RISK RETENTION GROUP, INC.15767 538.75 48.08 56.86147.29 37.53 54.88 41.4337.53 96.31

TRINITY RISK SOLUTIONS RECIPROCAL INSURANCE COMPANY RRG11958 69.50 197.06 116.19159.13 49.24 96.54 41.7980.65 138.33

UC HEALTH, RRG A RECIPROCAL RISK RETENTION GROUP16015 11.45 28,467.38 0.289.03 2.83 67.66 458.233.41 525.89

UNITED CENTRAL PA RRG11548 64.59 175.58 125.06141.82 64.61 110.77 5.0064.61 115.78

Analysis of Risk Retention Groups

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COMPANYNAIC

Liquidity

Cash to Losses and

LAE Reserves

Risk Retention Groups - Selected Financial Ratios

Leverage

Loss & LAE Reserves to

PHS NPW to PHSLoss & LAE

Ratio Expense RatioDPW to PHSCombined

Ratio

UNITED EDUCATORS INS RRG INC10020 76.83 186.25 147.76211.43 43.30 73.24 20.4953.04 93.73

UNITED HOME INSURANCE CO A RRG10712 24.63 0.00 0.0013.14 0.00 0.00 0.000.00 0.00

URGENT CARE ASSURANCE COMPANY RISK RETENTION GROUP12915 94.11 220.21 90.50187.55 55.02 48.31 44.0376.39 92.34

URGENT MD RISK RETENTION GROUP, INC.15908 141.81 123.63 141.33247.79 123.22 36.74 14.13148.01 50.87

UV INSURANCE RISK RETENTION GROUP, INC.13988 23.76 843.41 15.5531.17 31.31 10.78 59.9531.31 70.73

VEHICULAR SERVICE INSURANCE COMPANY, RISK RETENTION GROUP11063 0.90 0.00 0.000.90 0.00 0.00 0.000.00 0.00

VELOCITY INSURANCE COMPANY, A RISK RETENTION GROUP15956 130.25 126.42 39.9965.84 29.64 18.42 29.1429.64 47.56

VIRGINIA PHYSICIANS RISK RETENTION GROUP, INC.13974 81.97 199.74 116.51190.77 26.55 214.92 71.90167.84 286.83

WELLSPAN RRG11682 116.88 96.67 294.58332.84 147.09 84.64 3.88147.09 88.52

WESTERN CATHOLIC INSURANCE COMPANY RRG14122 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00

WESTERN PACIFIC MUT INS CO RRG40940 17.53 1,738.48 6.8620.92 2.60 118.16 91.763.11 209.91

YELLOWSTONE INSURANCE EXCHANGE (A RISK RETENTION GROUP)11796 67.16 211.46 70.2799.78 48.50 21.07 37.3371.75 58.40

Analysis of Risk Retention Groups

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1985Founded by Joseph L. Petrelli and Sharon M. Romano Petrelli to serve the financial analysis and actuarial services needs of regional and specialty insurers.1986First to issue Financial Stability Ratings® (FSRs) for health maintenance organizations (HMOs).1987First to issue FSRs for public entity liability self-insured pools through the development of our Management Audit Process.1989First to review and rate independent regional and specialty insurance companies.First to have Property & Casualty insurance company rating process formally reviewed and accepted by Fannie Mae. An FSR of A or better eliminates the need for property insurance cut-through endorsements.1990First to have Property & Casualty insurance company rating process formally reviewed and accepted by Freddie Mac.Began offering Property & Casualty insurance companies and Title underwriters loss cost analysis and rate, rule and form filing assistance.Responded to the National Association of Insurance Commissioners requirements for Property & Casualty insurers to submit Statements of Actuarial Opinion related to loss and loss adjustment expense reserves concurrent with the 1990 Property & Casualty annual statement.1992First to analyze the financial position of each Title underwriter in the industry.1993First to have Property & Casualty insurance company rating process formally reviewed and accepted by HUD.1994Fannie Mae issued Title underwriter acceptance guidelines, naming Demotech as an approved Title underwriter rating service.1995First to promulgate Commercial Real Estate Recommendations to provide financial due diligence of Title underwriters involved in larger real estate transactions.1996Contacted by the Florida Office of Insurance Regulation when the property insurance market required newly established insurers to obtain ratings. Demotech developed evaluation procedures for the assignment of FSRs to newly formed companies.Coordinated the first seminar regarding the implementation of statements of actuarial opinion for Title underwriters on behalf of the Conference of Consulting Actuaries.1999Co-authored the Commerce Clearing House publication describing the evolution of the Canadian Title insurance industry.2001Completed the initial loss and loss adjustment expense review of the Iowa Finance Authority – Title Guaranty Division.2002Revitalized the Ohio Title Insurance Rating Bureau, Inc. (OTIRB).2003Auto-Owners Insurance Group made umbrella insurance available to insurers earning an FSR of A or better.Assisted the North Carolina Title Insurance Rating Bureau with the development and filing of Closing Services coverage.Assisted OTIRB with its first rate revision since 1980.2004Published Serious about Solvency – Financial Stability Rating® Survival Rates 1989 through 2004.

Introduced Demotech Performance of Title Insurance Companies and Quarterly Updates, presenting consolidated statutory financial information for the Title insurance industry.2005HUD approved Demotech’s rating process for general and professional liability insurance under Notice H04-15, Professional Liability Insurance for Section 232 and 223(f) Programs.2006Joseph L. Petrelli, ACAS, MAAA, FCA, authored What We’ve Got Here Is a Failure to Communicate – How Traditional Financial Reporting Contributes to Misunderstanding of Title Insurance Loss Activity.2007Demotech introduced its Company Classification System.Demotech designated as the Official Research Partner of Insurance Journal. Expanded operations into a larger facility reflecting our increased capacity to serve our clients.2008Introduced Insurance Agents’ Errors and Omissions Insolvency Gap Legal Defense Coverage.2009Expanded the Insolvency Gap Coverage to include indemnity as well as legal defense.2011The Florida State University published “A Comprehensive Examination of Insurer Financial Strength Ratings” comparing and contrasting Demotech to other rating agencies.2012FSRs added to SNL Financial’s products, www.snl.com. 2013A leading insurance agents’ errors and omissions insurance carrier retained Demotech to perform a financial due diligence on the carriers that request an extension of insolvency coverage.Introduced Stakeholder Team Accomplishment Recognition™ Award to identify Property & Casualty insurers that successfully addressed the diverse needs of all corporate stakeholders.2014Achieved the milestone of more than 400 insurance entities being actively reviewed, rated and monitored.Fannie Mae MultiFamily accepted captive insurers and risk retention groups rated A or better by Demotech as regards professional and general liability insurance coverage for senior housing facilities.2015Celebrated 30th Anniversary.Published inaugural issue of The Demotech Difference. 2016FSRs of S or better accepted by a major underwriter of insurance agents’ Errors and Omissions insurance.Held Insurance Summit 2016 at The Wild Dunes in South Carolina.Approved as a provider of insurance agent continuing education in Ohio. Ohio State Treasurer Josh Mandel was a guest lecturer at our initial session.2017Co-sponsored the Super Regional P/C Insurer™ Conference 2017 held in Lake Geneva, WI.2018Co-sponsored the Super Regional P/C Insurer™ Conference 2018 held in Lake Geneva, WI.“Report on Calculation and Validation of Insurer Impairment Rates for Demotech, Inc.” published by Michael M. Barth, The Citadel, and Robert W. Klein, Georgia State University, February 2018.Introduced SPEQUELLAE, the first service to independently measure and identify the quality of pretax statutory earnings reported for a calendar year.

Demotech Milestones

Page 40: Demotech, Inc. › pdfs › papers › 2018_3q_update_rrgs.pdf•® Acceptance by Fannie Mae, Freddie Mac and HUD • Eliminate Reinsurance Cut-Throughs ... Innovative thinking, strategic

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Demotech, Inc.2715 Tuller Parkway

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