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ANNUAL STATEMENT PENN-STAR INSURANCE COMPANY
PROPERTY AND CASUALTY COMPANIES - ASSOCIATION EDITION *000010673200020100100* ANNUAL STATEMENT For the Year Ended December 31, 2000 of the Condition and Affairs of the PENN-STAR INSURANCE COMPANY NAIC Group Code..... 12181218 1218 NAIC Company Code.....10673 Employer's ID Number.....23-286536723-2865367 (Current Period) (Prior Period) Organized under the Laws of the State of PENNSYLVANIAPennsylvania, using as the port of entry INSURANCE DEPARTMENT OF THE STATE PURSUANT TO THE LAWS THEROF Commenced Business..... January 8, 1997January 8, 1997 Incorporated..... November 8, 1996November 8, 1996 Statutory Home Office 420 SOUTH YORK ROAD420 SOUTH YORK ROAD….. HATBOROHATBORO ....PAPA .....19040 (Street and Number) (City or Town, State and Zip Code) Address of Main Administrative Office 215-443-3600215-443-3600 420 SOUTH YORK ROAD420 SOUTH YORK ROAD….. HATBOROHATBORO ....PAPA .....19040 Mail Address 420 SOUTH YORK ROAD420 SOUTH YORK ROAD….. HATBOROHATBORO ....PAPA .....19040 Primary Location of Books and Records 215-443-3600215-443-3600 420 SOUTH YORK ROAD420 SOUTH YORK ROAD….. HATBOROHATBORO ....PAPA .....19040 Annual Statement Contact JAMESJames Joseph Mack JOSEPH (Street and Number) (City or Town, State and Zip Code) (Street and Number or P. O. Box) (Street and Number) (Area Code) (Telephone Number) (City or Town, State and Zip Code) (City or Town, State and Zip Code) (Area Code) (Telephone Number) 215-443-3623215-443-3623 (Name) (Area Code) (Telephone Number) (Extension) [email protected]@penn-america.com 215-443-3602215-443-3602 (E-Mail Address) (Fax Number) OFFICERS President .....Jon Simeon Saltzman Jon Pezzuolo Treasurer .....James Joseph Mack # Secretary .....Garland Paige VICE PRESIDENTS JohnJohn Michael DiBiasis Patrick Bowie James Ransley Lennon Thomas James Cannon, Jr. Joseph Francis Morris # Michael James JosephMack # DIRECTORS OR TRUSTEES Irvin Saltzman Eric Anthony Saltzman State of........ County of..... John Michael DiBiasi Joseph Francis Morris # Jon Simeon Saltzman Garland Paige Pezzuolo Jami Saltzman-Levy Pennsylvania Montgomery The officers of this company, being duly sworn, each depose and say that they are the above described officers of the said insurer, and that on the thirty first day of December last, all of the herein described assets were the absolute property of the said insurer free and clear from any liens or claims thereon, except as herein stated, and that this annual statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to are a full and true statement of all the assets and liabilities and of the condition and affairs of the said insurer as of the thirty first day of December last, and of its income and deductions therefrom for the year ended on that date, and have been completed in accordance with the NAIC annual statement instructions and accounting practices and procedures manuals except to the extent that: (1) state law may differ; or, (2) that state rules or regulations require differences in reporting not related to accounting practices and procedures, according to the best of their information, knowledge and belief, respectively. (Signature) (Signature) (Signature) Jon Simeon Saltzman (Printed Name) President Garland Paige Pezzuolo (Printed Name) Secretary James Joseph Mack # (Printed Name) Treasurer Subscribed and sworn to before me this ..............day of ............................................................, 2001 a. Is this an original filing? ................................................................................................ b. If no: Yes [ X ] No [ ] 1. State the amendment number..... 2. Date filed..... 3. Number of pages attached..... Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY ASSETS Current Year 1 2 Ledger Assets Non-Ledger Assets 3 Assets Not Admitted 4 Net Admitted Assets (Cols. 1 + 2 - 3) Prior Year 5 Net Admitted Assets 1. Bonds (less $..........0 liability for asset transfers with put options, Schedule D, Part 1)..................................................................................................... ............60,778,836 ...............(338,259) .............................. ............60,440,577 ............53,393,639 2. Stocks: 3. 4. 5. 2.1 Preferred stocks (Schedule D, Part 2, Section 1)............................................... .............2,268,225 ...............(395,725) .............................. .............1,872,500 .............2,006,328 2.2 Common stocks (Schedule D, Part 2, Section 2)................................................ .............................. .............................. .............................. ...........................0 .............................. Mortgage loans on real estate (Schedule B): 3.1 First liens........................................................................................................... .............................. .............................. .............................. ...........................0 .............................. 3.2 Other than first liens........................................................................................... .............................. .............................. .............................. ...........................0 .............................. Real estate (Schedule A): 4.1 Properties occupied by the company (less $..........0 encumbrances).................................................................................................. .............................. .............................. .............................. ...........................0 .............................. 4.2 Other properties (less $..........0 encumbrances)................................................. .............................. .............................. .............................. ...........................0 .............................. Cash ($.....906,675 Schedule E, Part 1) and short-term investments ($.....1,972,498 Schedule DA, Part 1).......................................................................... .............2,879,173 .............................. .............................. .............2,879,173 .............2,380,895 6. Other invested assets (Schedule BA)........................................................................... .............................. .............................. .............................. ...........................0 .............................. 7. Receivable for securities.............................................................................................. .............................. .............................. .............................. ...........................0 .............................. 8. Aggregate write-ins for invested assets........................................................................ ...........................0 9. Subtotals, cash and invested assets (Lines 1 to 8)....................................................... ............65,926,234 ...............(733,984) ...........................0 ............65,192,250 ............57,780,862 ...........................0 ...........................0 ...........................0 ...........................0 10. Agents' balances or uncollected premiums (net as to commissions and dividends): 10.1 Premiums and agents' balances in course of collection (after deducting ceded reinsurance balances payable of $.....533,433)........................ .............3,899,227 .............................. .............................. .............3,899,227 .............4,553,313 10.2 Premiums, agents' balances and installments booked but deferred and not yet due (after deducting ceded reinsurance balances payable of $..........0) (Including $..........0 earned but unbilled premiums)........................ .............................. .............................. .............................. ...........................0 .............................. 10.3 Accrued retrospective premiums (after deducting ceded reinsurance balances payable of $..........0)........................................................................... .............................. .............................. .............................. ...........................0 .............................. 11. Funds held by or deposited with reinsured companies................................................. .............................. .............................. .............................. ...........................0 .............................. 12. Bills receivable, taken for premiums............................................................................. .............................. .............................. .............................. ...........................0 .............................. 13. Reinsurance recoverables on loss and loss adjustment expense payments (Schedule F, Part 3, Cols. 2 and 3).............................................................. .............................. .............................. .............................. ...........................0 .............................. 14. Federal income tax recoverable and interest thereon................................................... .............................. ................313,221 .............................. ................313,221 .............................. 14A. Guaranty funds receivable or on deposit...................................................................... .............................. .............................. .............................. ...........................0 .............................. 15. Electronic data processing equipment.......................................................................... .............................. .............................. .............................. ...........................0 .............................. 16. Interest, dividends and real estate income due and accrued........................................ .............................. ................784,699 .............................. ................784,699 ................766,754 17. Receivable from parent, subsidiaries and affiliates....................................................... .............................. .............................. .............................. ...........................0 .............................. 18. Equities and deposits in pools and associations........................................................... .............................. .............................. .............................. ...........................0 .............................. 19. Amounts receivable relating to uninsured accident and health plans............................ .............................. .............................. .............................. ...........................0 .............................. 20. Other assets nonadmitted (Exhibit 1)........................................................................... .............................. .............................. .............................. ...........................0 .............................. 21. Aggregate write-ins for other than invested assets....................................................... ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 22. TOTALS (Lines 9 through 21)...................................................................................... ............69,825,461 ................363,936 ...........................0 ............70,189,397 ............63,100,929 DETAILS OF WRITE-INS 0801. .................................................................................................................................... .............................. .............................. .............................. ...........................0 .............................. 0802. .................................................................................................................................... .............................. .............................. .............................. ...........................0 .............................. 0803. .................................................................................................................................... .............................. .............................. .............................. ...........................0 .............................. 0898. Summary of remaining write-ins for Line 8 from overflow page.................................... ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 0899. Totals (Lines 0801 thru 0803 plus 0898) (Line 8 above)............................................... ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 2101. .................................................................................................................................... .............................. .............................. .............................. ...........................0 .............................. 2102. .................................................................................................................................... .............................. .............................. .............................. ...........................0 .............................. 2103. .................................................................................................................................... .............................. .............................. .............................. ...........................0 .............................. 2198. Summary of remaining write-ins for Line 21 from overflow page.................................. ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 2199. Totals (Lines 2101 thru 2103 plus 2198) (Line 21 above)............................................. ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 2 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY LIABILITIES, SURPLUS AND OTHER FUNDS 1 Current Year 2 Prior Year 1. Losses (Part 3A, Line 32, Column 5).......................................................................................................................................................... ....................17,971,490 ....................12,958,093 1A. Reinsurance payable on paid loss and loss adjustment expenses (Schedule F, Part 1, Column 2)............................................................ ........................920,850 ......................1,737,401 2. Loss adjustment expenses (Part 3A, Line 32, Column 6)............................................................................................................................ ......................7,019,091 ......................4,576,329 3. Contingent commissions and other similar charges.................................................................................................................................... ......................1,299,778 4. Other expenses (excluding taxes, licenses and fees).................................................................................................................................. ...................................... ...................................... 5. Taxes, licenses and fees (excluding federal and foreign income taxes)...................................................................................................... ...................................... ...................................... 6. Federal and foreign income taxes (excluding deferred taxes)..................................................................................................................... ...................................... 7. Borrowed money........................................................................................................................................................................................ ...................................... ...................................... 8. Interest, including $...........0 on borrowed money........................................................................................................................................ ...................................... ...................................... 9. Unearned premiums (Part 2A, Line 34, Column 5) (after deducting ceded reinsurance unearned premiums of $.....2,071,000)................ ....................13,511,447 ....................11,480,955 10. Dividends declared and unpaid: ........................996,920 ........................483,751 a. Stockholders.......................................................................................................................................................................................... ...................................... ...................................... b. Policyholders......................................................................................................................................................................................... ...................................... ...................................... 11. Funds held by company under reinsurance treaties (Schedule F, Part 3, Column 14)................................................................................ ...................................... ...................................... 12. Amounts withheld or retained by company for account of others................................................................................................................ ...................................... ...................................... 13. Remittances and items not allocated.......................................................................................................................................................... ...................................... ...................................... 14. Provision for reinsurance (Schedule F, Part 7)........................................................................................................................................... ...................................... ...................................... 15. Excess of statutory reserves over statement reserves (Schedule P Interrogatories)................................................................................... ...................................... ...................................... 16. Net adjustments in assets and liabilities due to foreign exchange rates...................................................................................................... ...................................... ...................................... 17. Drafts outstanding...................................................................................................................................................................................... ...................................... ...................................... 18. Payable to parent, subsidiaries and affiliates.............................................................................................................................................. ........................486,583 19. Payable for securities................................................................................................................................................................................. ...................................... ...................................... 20. Liability for amounts held under uninsured accident and health plans......................................................................................................... ...................................... ...................................... 21. Capital notes $...........0 and interest thereon $..........0............................................................................................................................... ...................................... ...................................... 22. Aggregate write-ins for liabilities................................................................................................................................................................. ...................................0 23. Total liabilities (Lines 1 through 22)............................................................................................................................................................ ....................41,209,239 ....................33,040,232 24. Aggregate write-ins for special surplus funds.............................................................................................................................................. ...................................0 ........................806,783 ...................................0 ...................................0 25A. Common capital stock................................................................................................................................................................................ ......................4,200,000 ......................4,200,000 25B. Preferred capital stock................................................................................................................................................................................ ...................................... ...................................... 25C. ...................................0 Aggregate write-ins for other than special surplus funds............................................................................................................................ ...................................0 26A. Surplus notes.............................................................................................................................................................................................. ...................................... ...................................... 26B. Gross paid in and contributed surplus......................................................................................................................................................... ....................25,800,000 ....................25,800,000 26C. Unassigned funds (surplus)........................................................................................................................................................................ ....................(1,019,842) ..........................60,697 26D. Less treasury stock, at cost: (1) ..........0.000 shares common (value included in Line 25A $..........0)................................................................................................... ...................................... ...................................... (2) ..........0.000 shares preferred (value included in Line 25B $..........0).................................................................................................. ...................................... ...................................... 27. Surplus as regards policyholders (Lines 24 to 26C, less 26D) (Page 4, Line 32)........................................................................................ ....................28,980,158 ....................30,060,697 28. TOTALS (Page 2, Line 22, Col. 4).............................................................................................................................................................. ....................70,189,397 ....................63,100,929 DETAILS OF WRITE-INS 2201. ................................................................................................................................................................................................................... ...................................... ...................................... 2202. ................................................................................................................................................................................................................... ...................................... ...................................... 2203. ................................................................................................................................................................................................................... ...................................... ...................................... 2298. Summary of remaining write-ins for Line 22 from overflow page................................................................................................................. ...................................0 ...................................0 2299. Totals (Lines 2201 thru 2203 plus 2298) (Line 22 above)............................................................................................................................ ...................................0 ...................................0 2401. ................................................................................................................................................................................................................... ...................................... ...................................... 2402. ................................................................................................................................................................................................................... ...................................... ...................................... 2403. ................................................................................................................................................................................................................... ...................................... ...................................... 2498. Summary of remaining write-ins for Line 24 from overflow page................................................................................................................. ...................................0 ...................................0 2499. Totals (Lines 2401 thru 2403 plus 2498) (Line 24 above)............................................................................................................................ ...................................0 ...................................0 25C01. ................................................................................................................................................................................................................... ...................................... ...................................... 25C02. ................................................................................................................................................................................................................... ...................................... ...................................... 25C03. ................................................................................................................................................................................................................... ...................................... ...................................... 25C98. Summary of remaining write-ins for Line 25C from overflow page.............................................................................................................. ...................................0 ...................................0 25C99. Totals (Lines 25C01 thru 25C03 plus 25C98) (Line 25C above)................................................................................................................. ...................................0 ...................................0 3 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT STATEMENT OF INCOME 1 2 Current Year Prior Year UNDERWRITING INCOME 1. Premiums earned (Part 2, Line 32, Column 4)............................................................................................................................................. ...................32,007,152 ...................29,890,291 2. Losses incurred (Part 3, Line 32, Column 7)................................................................................................................................................ ...................19,298,967 ...................14,862,358 3. Loss expenses incurred (Part 4, Line 22, Column 1).................................................................................................................................... .....................5,298,678 .....................4,501,062 Deductions 4. Other underwriting expenses incurred (Part 4, Line 22, Column 2).............................................................................................................. ...................11,469,109 ...................10,711,969 5. Aggregate write-ins for underwriting deductions........................................................................................................................................... 6. Total underwriting deductions (Lines 2 through 5)........................................................................................................................................ ...................36,066,754 ...................30,075,389 7. Net underwriting gain or (loss) (Line 1 minus Line 6)................................................................................................................................... ....................(4,059,602) .......................(185,098) ...................................0 ...................................0 INVESTMENT INCOME 8. Net investment income earned (Part 1, Line 14).......................................................................................................................................... .....................3,919,105 .....................3,055,088 9. Net realized capital gains or (losses) (Part 1A, Line 10)............................................................................................................................... .......................(278,999) ............................1,134 9A. Net investment gain or (loss) (Lines 8 + 9)................................................................................................................................................... .....................3,640,106 .....................3,056,222 OTHER INCOME 10. Net gain or (loss) from agents' or premium balances charged off (amount recovered $..........0 amount charged off $.....928)...................................................................................................................................................................... .............................(928) ...................................... 11. Finance and service charges not included in premiums............................................................................................................................... ...................................... ...................................... 12. Aggregate write-ins for miscellaneous income............................................................................................................................................. ...................................0 ...................................0 13. Total other income (Lines 10 through 12)..................................................................................................................................................... .............................(928) ...................................0 14. Net income before dividends to policyholders and before federal and foreign income taxes (Lines 7 + 9A + 13).......................................... .......................(420,424) .....................2,871,124 14A. Dividends to policyholders (Exhibit 2, Line 16, Column 1 plus Page 3, Line 10b, Column 1 minus Column 2)............................................. ...................................... ...................................... 14B. Net income, after dividends to policyholders but before federal and foreign income taxes (Line 14 minus Line 14A)................................... .......................(420,424) .....................2,871,124 15. Federal and foreign income taxes incurred.................................................................................................................................................. ........................188,028 .....................1,289,087 16. Net income (Line 14B minus Line 15) (to Line 18)........................................................................................................................................ .......................(608,452) .....................1,582,037 CAPITAL AND SURPLUS ACCOUNT 17. Surplus as regards policyholders, December 31 prior year (Page 4, Line 32, Column 2)............................................................................. ...................30,060,697 ...................29,133,833 GAINS AND (LOSSES) IN SURPLUS 18. Net income (from Line 16)............................................................................................................................................................................ .......................(608,452) .....................1,582,037 19. Net unrealized capital gains or (losses) (Part 1A, Line 11)........................................................................................................................... .......................(472,087) .......................(255,173) 20. Change in nonadmitted assets (Exhibit 1, Line 6, Column 3)....................................................................................................................... ...................................... ...................................... 21. Change in provision for reinsurance (Page 3, Line 14, Column 2 minus Column 1)..................................................................................... ...................................... ...................................... 22. Change in foreign exchange adjustment...................................................................................................................................................... 23. Change in excess of statutory reserves over statement reserves (Page 3, Line 15, Column 2 minus Column 1)......................................... ...................................... ...................................... 23A. Change in surplus notes.............................................................................................................................................................................. ...................................... ...................................... ...................................... ...................................... 24. Capital changes: a. Paid in (Exhibit 2, Line 6, Column 1)....................................................................................................................................................... ...................................... ...................................... b. Transferred from surplus (Stock Dividend).............................................................................................................................................. ...................................... .....................1,200,000 c. Transferred to surplus............................................................................................................................................................................. ...................................... ...................................... 25. Surplus adjustments: 26. a. Paid in (Exhibit 2, Line 7, Column 1)....................................................................................................................................................... ...................................... ...................................... b. Transferred to capital (Stock Dividend)................................................................................................................................................... ...................................... ....................(1,200,000) c. Transferred from capital.......................................................................................................................................................................... ...................................... ...................................... Net remittances from or (to) Home Office (Exhibit 2, Line 4b minus Line 12b, Column 1)............................................................................ ...................................... ...................................... 27. Dividends to stockholders (cash).................................................................................................................................................................. ...................................... .......................(400,000) 28. Change in treasury stock (Page 3, Line 26D (1) and (2), Column 2 minus Column 1).................................................................................. ...................................... ...................................... 29. Extraordinary amounts of taxes for prior years............................................................................................................................................. ...................................... ...................................... 30. Aggregate write-ins for gains and losses in surplus...................................................................................................................................... ...................................0 ...................................0 31. Change in surplus as regards policyholders for the year (Lines 18 through 30)............................................................................................ ....................(1,080,539) ........................926,864 32. Surplus as regards policyholders, December 31 current year (Line 17 plus Line 31) (Page 3, Line 27)........................................................ ...................28,980,158 ...................30,060,697 DETAILS OF WRITE-INS 0501. .................................................................................................................................................................................................................... ...................................... ...................................... 0502. .................................................................................................................................................................................................................... ...................................... ...................................... 0503. .................................................................................................................................................................................................................... ...................................... ...................................... 0598. Summary of remaining write-ins for Line 5 from overflow page.................................................................................................................... ...................................0 ...................................0 0599. Totals (Lines 0501 thru 0503 plus 0598) (Line 5 above)............................................................................................................................... ...................................0 ...................................0 1201. .................................................................................................................................................................................................................... ...................................... ...................................... 1202. .................................................................................................................................................................................................................... ...................................... ...................................... 1203. .................................................................................................................................................................................................................... ...................................... ...................................... 1298. Summary of remaining write-ins for Line 12 from overflow page.................................................................................................................. ...................................0 ...................................0 1299. Totals (Lines 1201 thru 1203 plus 1298) (Line 12 above)............................................................................................................................. ...................................0 ...................................0 3001. .................................................................................................................................................................................................................... ...................................... ...................................... 3002. .................................................................................................................................................................................................................... ...................................... ...................................... 3003. .................................................................................................................................................................................................................... ...................................... ...................................... 3098. Summary of remaining write-ins for Line 30 from overflow page.................................................................................................................. ...................................0 ...................................0 3099. Totals (Lines 3001 thru 3003 plus 3098) (Line 30 above)............................................................................................................................. ...................................0 ...................................0 4 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY CASH FLOW 1 Current Year 2 Prior Year CASH FROM OPERATIONS 1. Premiums collected net of reinsurance................................................................................................................................................ 2. Loss and loss adjustment expenses paid (net of salvage and subrogation).......................................................................................... .......................17,958,037 .......................13,213,793 3. Underwriting expenses paid................................................................................................................................................................. .......................11,166,251 .......................10,197,725 4. Other underwriting income (expenses)................................................................................................................................................. .......................................... .......................................... 5. Cash from underwriting (Line 1 minus Line 2 minus Line 3 plus Line 4)............................................................................................... .........................5,567,442 .........................4,503,364 6. Net Investment income........................................................................................................................................................................ 7. Other income (expenses): .......................34,691,730 .......................27,914,882 .........................3,937,592 .........................3,085,273 7.1 Agents' balances charged off..................................................................................................................................................... .................................(927) .......................................... 7.2 Net funds held under reinsurance treaties.................................................................................................................................. .......................................... .......................................... 7.3 Net amount withheld or retained for account of others................................................................................................................ .......................................... .......................................... 7.4 Aggregate write-ins for miscellaneous items.............................................................................................................................. ......................................0 7.5 Total other income (Lines 7.1 to 7.4).......................................................................................................................................... .................................(927) ......................................0 ......................................0 8. Dividends to policyholders on direct business, less $...............0 dividends on reinsurance assumed or ceded (net)............................ .......................................... .......................................... 9. Federal and foreign income taxes (paid) recovered.............................................................................................................................. ...........................(985,000) ...........................(675,000) 10. Net cash from operations (Line 5 plus Line 6 plus Line 7.5 minus Line 8 plus Line 9).......................................................................... .........................8,519,107 .........................6,913,637 CASH FROM INVESTMENTS 11. Proceeds from investments sold, matured or repaid: 11.1 Bonds......................................................................................................................................................................................... .......................33,652,041 .......................15,354,748 11.2 Stocks........................................................................................................................................................................................ .......................................... .......................................... 11.3 Mortgage loans.......................................................................................................................................................................... .......................................... .......................................... 11.4 Real estate................................................................................................................................................................................. .......................................... .......................................... 11.5 Other invested assets................................................................................................................................................................. .......................................... .......................................... 11.6 Net gains or (losses) on cash and short-term investments......................................................................................................... .......................................... .......................................... 11.7 Miscellaneous proceeds............................................................................................................................................................. .......................................... .......................................... 11.8 Total investment proceeds (Lines 11.1 to 11.7).......................................................................................................................... .......................33,652,041 .......................15,354,748 12. Cost of investments acquired (long-term only): 13. 12.1 Bonds......................................................................................................................................................................................... .......................41,352,670 .......................23,281,207 12.2 Stocks........................................................................................................................................................................................ .......................................... .........................1,030,000 12.3 Mortgage loans.......................................................................................................................................................................... .......................................... .......................................... 12.4 Real estate................................................................................................................................................................................. .......................................... .......................................... 12.5 Other invested assets................................................................................................................................................................. .......................................... .......................................... 12.6 Miscellaneous applications......................................................................................................................................................... .......................................... .......................................... 12.7 Total investments acquired (Lines 12.1 to 12.6)......................................................................................................................... .......................41,352,670 .......................24,311,207 Net cash from investments (Line 11.8 minus Line 12.7)....................................................................................................................... ........................(7,700,629) ........................(8,956,459) CASH FROM FINANCING AND MISCELLANEOUS SOURCES 14. Cash provided: 15. 14.1 Surplus notes, capital and surplus paid in.................................................................................................................................. .......................................... .......................................... 14.2 Capital notes ($..........0) less amounts repaid ($..........0)........................................................................................................... .......................................... .......................................... 14.3 Net transfers from affiliates........................................................................................................................................................ .......................................... ............................462,040 14.4 Borrowed funds received............................................................................................................................................................ .......................................... .......................................... 14.5 Other cash provided................................................................................................................................................................... .......................................... .......................................... 14.6 Total (Lines 14.1 to 14.5)........................................................................................................................................................... ......................................0 ............................462,040 Cash applied: 15.1 Dividends to stockholders paid................................................................................................................................................... .......................................... ............................400,000 15.2 Net transfers to affiliates............................................................................................................................................................ ............................320,200 .......................................... 15.3 Borrowed funds repaid............................................................................................................................................................... .......................................... .......................................... 15.4 Other applications...................................................................................................................................................................... .......................................... .......................................... 15.5 Total (Lines 15.1 to 15.4)........................................................................................................................................................... ............................320,200 ............................400,000 16. Net cash from financing and miscellaneous sources (Line 14.6 minus Line 15.5)................................................................................ ...........................(320,200) ..............................62,040 17. Net change in cash and short-term investments (Line 10 plus Line 13 plus Line 16)............................................................................ ............................498,278 ........................(1,980,782) 18. Cash and short-term investments: RECONCILIATION OF CASH AND SHORT-TERM INVESTMENTS 18.1 Beginning of year....................................................................................................................................................................... .........................2,380,895 .........................4,361,677 18.2 End of year (Line 17 plus Line 18.1)........................................................................................................................................... .........................2,879,173 .........................2,380,895 DETAILS OF WRITE-INS 7.401 ............................................................................................................................................................................................................ .......................................... .......................................... 7.402 ............................................................................................................................................................................................................ .......................................... .......................................... 7.403 ............................................................................................................................................................................................................ .......................................... .......................................... 7.498 Summary of remaining write-ins for Line 7.4 from overflow page......................................................................................................... ......................................0 ......................................0 7.499 Total (Lines 7.401 to 7.403 plus 7.498) (Line 7.4 above)...................................................................................................................... ......................................0 ......................................0 5 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT PART 1 - INTEREST, DIVIDENDS AND REAL ESTATE INCOME 1 2 3 Paid In Advance Collected During Schedule Year 1. U.S. government bonds......................................... D (a) ................358,462 1.1 Bonds exempt from U.S. tax.................................. D (a) ................368,050 1.2 Other bonds (unaffiliated)...................................... D (a) .............2,922,682 1.3 Bonds of affiliates.................................................. D (a) .............................. 2.1 Preferred stocks (unaffiliated)................................ D (b) ................130,152 2.11 Preferred stocks of affiliates.................................. D (b) .............................. 2.2 Common stock (unaffiliated).................................. D .............................. 2.21 Common stock of affiliates..................................... D .............................. 3. Mortgage loans...................................................... B (c) .............................. 4. Real estate............................................................ A (d) .............................. 5.1 Cash on hand and on deposit................................ E ................168,689 5.2 Short-term investments.......................................... DA (e) .............................. 6. Other invested assets............................................ BA .............................. 7. Derivative instruments........................................... DB,DC (f) .............................. 8. Aggregate write-ins for investment income............ ...........................0 9. TOTALS................................................................ (g).........3,948,035 4 Current Year .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. ...........................0 ...........................0 Due And Accrued (h) 5 Prior Year .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. ...........................0 ...........................0 6 Current Year ..................83,088 ..................56,188 ................610,604 .............................. ..................17,147 .............................. .............................. .............................. .............................. .............................. ..................17,672 .............................. .............................. .............................. ...........................0 ................784,699 7 Prior Year ................139,675 ................137,429 ................448,972 .............................. ..................18,472 .............................. .............................. .............................. .............................. .............................. ..................22,206 .............................. .............................. .............................. ...........................0 ................766,754 8 Earned During Year (Columns 3 + 5 + 6 - 4 - 7) ................301,875 ................286,809 .............3,084,314 ...........................0 ................128,827 ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 ................164,155 ...........................0 ...........................0 ...........................0 ...........................0 (g).........3,965,980 DEDUCTIONS 10. 10A. 11. 12. 13. 14. Total investment expenses incurred (Part 4, Line 22, Column 3).................................................................................................................................. ..................46,875 Interest expense........................................................................................................................................................................................................... (i)........................... Depreciation on real estate (for companies which depreciate annually on a formula basis).......................................................................................... .............................. Aggregate write-ins for deductions from investment income......................................................................................................................................... ...........................0 Total deductions (Lines 10 to 12).................................................................................................................................................................................................................. ..................46,875 Net investment income earned (Line 9 minus Line 13) (to Page 4, Line 8).................................................................................................................................................... .............3,919,105 0801. 0802. 0803. 0898. 0899. .............................................................................. .............................................................................. .............................................................................. Summary of remaining write-ins for Line 8 from overflow page Totals (Lines 0801 thru 0803 plus 0898) (Part 1, Line 8).......... DETAILS OF WRITE-INS .............................. .............................. .............................. .............................. .............................. .............................. ...........................0 ...........................0 ...........................0 ...........................0 .............................. .............................. .............................. ...........................0 ...........................0 .............................. .............................. .............................. ...........................0 ...........................0 .............................. .............................. .............................. ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 DEDUCTIONS 1201. 1202. 1203. 1298. 1299. .............................................................................. .................................................................................................................................................... .............................. .............................................................................. .................................................................................................................................................... .............................. .............................................................................. .................................................................................................................................................... .............................. Summary of remaining write-ins for Line 12 from overflow page.................................................................................................................................. ...........................0 Totals (Lines 1201 thru 1203 plus 1298) (Part 1, Line 12)............................................................................................................................................ ...........................0 (a) Includes $.....133,302 accrual of discount less $.....169,734 amortization of premium. (f) Includes $...............0 accrual of discount less $...............0 amortization of premium. (b) Includes $...............0 accrual of discount less $...............0 amortization of premium. (g) Includes asset transfers with put options accounted for as financing (c) Includes $...............0 accrual of discount less $...............0 amortization of premium. arrangements: $...............0 Column 3, $...............0 Column 8. (d) Includes $...............0 for company's occupancy of its own buildings. (h) Admitted items only. State basis of exclusions. (e) Includes $...............0 accrual of discount less $...............0 amortization of premium. (i) Includes $...............0 interest on surplus notes and $...............0 interest on capital notes. PART 1A - CAPITAL GAINS AND (LOSSES) ON INVESTMENTS 1 1. 1.1 1.2 1.3 2.1 2.11 2.2 2.21 3. 4. 5.1 5.2 6. 7. 8. 9. 10. 11. 0801. 0802. 0803. 0898. 0899. 2 Profit on Sales or Maturity ...................1,962 ............................. ...................7,081 ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ..........................0 ...................9,043 3 4 5 Loss on Sales or Maturity ...................1,276 ...............105,755 ...............181,011 ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ..........................0 ...............288,042 Increases by Adjustment in Book Value ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ..........................0 ..........................0 Decreases by Adjustment in Book Value ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. ............................. (a)......................... ............................. ............................. ............................. ............................. ..........................0 ..........................0 6 Net Gain or (Loss) from Change in Difference Between Book and Admitted Values ................................ ................................ .................(338,259) ................................ .................(133,828) ................................ ................................ ................................ ................................ ................................ ................................ ................................ ................................ ................................ .............................0 .................(472,087) U.S. government bonds................................................................ Bonds exempt from U.S. tax........................................................ Other bonds (unaffiliated)............................................................. Bonds of affiliates......................................................................... Preferred stocks (unaffiliated)....................................................... Preferred stocks of affiliates......................................................... Common stock (unaffiliated)......................................................... Common stock of affiliates........................................................... Mortgage loans............................................................................ Real estate................................................................................... Cash on hand and on deposit....................................................... Short-term investments................................................................ Other invested assets................................................................... Derivative instruments.................................................................. Aggregate write-ins for capital gains and (losses)........................ TOTALS....................................................................................... (Distribution of Line 9, Col. 7) Net realized capital gains or (losses) (Page 4, Line 9) (Col. 2 - 3, Line 9)...................................................................................................................................................... Net unrealized capital gains or (losses) (Page 4, Line 19) (Col. 4 - 5 + 6, Line 9).......................................................................................................................................... ..................................................................................................... ..................................................................................................... ..................................................................................................... Summary of remaining write-ins for Line 8 from overflow page.... Totals (Lines 0801 thru 0803 plus 0898) (Part 1A, Line 8)............ DETAILS OF WRITE-INS ............................. ............................. ............................. ............................. ............................. ............................. ..........................0 ..........................0 ..........................0 ..........................0 (a) Excluding $...............0 depreciation on real estate included in Part 1, Line 11. 6 ............................. ............................. ............................. ..........................0 ..........................0 ............................. ............................. ............................. ..........................0 ..........................0 ................................ ................................ ................................ .............................0 .............................0 7 Total (Net of Cols. 2 to 6 incl.) (2 - 3 + 4 - 5 + 6) ......................686 ..............(105,755) ..............(512,189) ..........................0 ..............(133,828) ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 ..............(751,086) ..............(278,999) ..............(472,087) ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT PART 2 - PREMIUMS EARNED 1 Line of Business 2 Unearned Premiums December 31 Prior Yearper Col. 3 Last Year's Part 2 Net Premiums Written per Column 4, Part 2B 3 Unearned Premiums December 31 Current Yearper Col. 5 Part 2A 4 Premiums Earned During Year (Cols. 1 + 2 - 3) 1. Fire.................................................................................................. .............................939,444 .............................346,855 .............................348,931 .............................937,368 2. Allied lines........................................................................................ .............................373,651 .............................146,007 .............................149,485 .............................370,173 3. Farmowners multiple peril................................................................ .......................................... .......................................... .......................................... .......................................0 4. Homeowners multiple peril............................................................... .......................................... .......................................... .......................................... .......................................0 5. Commercial multiple peril................................................................. ........................18,710,594 ..........................6,582,750 ..........................7,912,713 ........................17,380,631 6. Mortgage guaranty........................................................................... .......................................... .......................................... .......................................... .......................................0 8. Ocean marine.................................................................................. .......................................0 9. Inland marine................................................................................... .............................535,577 .............................135,603 .............................175,021 .............................496,159 10. Financial guaranty............................................................................ .......................................... .......................................... .......................................... .......................................0 11.1 Medical malpractice - occurrence..................................................... .......................................... .......................................... .......................................... .......................................0 11.2 Medical malpractice - claims-made.................................................. .......................................... .......................................... .......................................... .......................................0 12. Earthquake....................................................................................... .......................................... .......................................... .......................................... .......................................0 13. Group accident and health............................................................... .......................................... .......................................... .......................................... .......................................0 14. Credit accident and health (group and individual)............................. .......................................... .......................................... .......................................... .......................................0 15. Other accident and health................................................................ .......................................... .......................................... .......................................... .......................................0 16. Workers' compensation.................................................................... .......................................... .......................................... .......................................... .......................................0 17.1 Other liability - occurrence............................................................... ..........................8,265,631 ..........................2,848,828 ..........................3,161,776 ..........................7,952,683 17.2 Other liability - claims-made............................................................. .......................................... .......................................... .......................................... 18.1 Products liability - occurrence.......................................................... ..........................1,011,946 .............................346,594 .............................418,563 .............................939,977 18.2 Products liability - claims-made........................................................ .......................................... .......................................... .......................................... .......................................... .......................................... .......................................... .......................................0 .......................................0 19.1, 19.2 Private passenger auto liability......................................................... .............................762,352 .............................333,329 .................................5,658 ..........................1,090,023 19.3, 19.4 Commercial auto liability.................................................................. ..........................2,317,050 .............................441,600 .............................949,722 ..........................1,808,928 21. Auto physical damage...................................................................... ..........................1,121,399 .............................299,389 .............................389,578 ..........................1,031,210 22. Aircraft (all perils)............................................................................. .......................................... .......................................... .......................................... .......................................0 23. Fidelity............................................................................................. .......................................... .......................................... .......................................... .......................................0 24. Surety.............................................................................................. .......................................... .......................................... .......................................... .......................................0 26. Burglary and theft............................................................................. .......................................... .......................................... .......................................... .......................................0 27. Boiler and machinery....................................................................... .......................................... .......................................... .......................................... .......................................0 28. Credit............................................................................................... .......................................... .......................................... .......................................... .......................................0 29. International..................................................................................... .......................................... .......................................... .......................................... .......................................0 30A. Reinsurance-Nonproportional Assumed Property............................. .......................................... .......................................... .......................................... .......................................0 30B. Reinsurance-Nonproportional Assumed Liability.............................. .......................................... .......................................... .......................................... .......................................0 30C. Reinsurance-Nonproportional Assumed Financial Lines.................. .......................................... .......................................... .......................................... .......................................0 31. Aggregate write-ins for other lines of business................................. .......................................0 .......................................0 32. TOTALS........................................................................................... ........................34,037,644 ........................11,480,955 ........................13,511,447 ........................32,007,152 .......................................0 .......................................0 DETAILS OF WRITE-INS 3101. ........................................................................................................ .......................................... .......................................... .......................................... .......................................0 3102. ........................................................................................................ .......................................... .......................................... .......................................... .......................................0 3103. ........................................................................................................ .......................................... .......................................... .......................................... .......................................0 3198. Summary of remaining write-ins for Line 31 from overflow page...... .......................................0 .......................................0 .......................................0 .......................................0 3199. Totals (Lines 3101 thru 3103 plus 3198) (Line 31 above)................. .......................................0 .......................................0 .......................................0 .......................................0 7 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT PART 2A - RECAPITULATION OF ALL PREMIUMS (a) Gross premiums (less reinsurance) and unearned premiums on all unexpired risks and reserve for return premiums under rate credit or retrospective rating plans based upon experience, viz 1 2 3 4 5 Amount Unearned Amount Unearned Reserve for (Running One Year (Running more than Rate Credits Total Reserve or Less from Date One Year from Advance and Retrospective for Unearned of Policy) Date of Policy) Premiums Adjustments Based Premiums Line of Business (b) (b) (100%) on Experience (Cols. 1 + 2 + 3 + 4) 1. Fire.............................................................................................. .....................348,931 ................................... ................................... ................................... .....................348,931 2. Allied lines................................................................................... .....................149,485 ................................... ................................... ................................... .....................149,485 3. Farmowners multiple peril........................................................... ................................... ................................... ................................... ................................... ................................0 4. Homeowners multiple peril.......................................................... ................................... ................................... ................................... ................................... ................................0 5. Commercial multiple peril............................................................ ..................7,912,713 ................................... ................................... ................................... ..................7,912,713 6. Mortgage guaranty...................................................................... ................................... ................................... ................................... ................................... ................................0 8. Ocean marine.............................................................................. ................................... ................................... ................................... ................................... ................................0 9. Inland marine.............................................................................. .....................175,021 ................................... ................................... ................................... .....................175,021 10. Financial guaranty....................................................................... ................................... ................................... ................................... ................................... ................................0 11.1 Medical malpractice - occurrence................................................ ................................... ................................... ................................... ................................... ................................0 11.2 Medical malpractice - claims-made............................................. ................................... ................................... ................................... ................................... ................................0 12. Earthquake.................................................................................. ................................... ................................... ................................... ................................... ................................0 13. Group accident and health.......................................................... ................................... ................................... ................................... (c)............................... ................................0 14. Credit accident and health (group and individual)........................ ................................... ................................... ................................... ................................... ................................0 15. Other accident and health........................................................... ................................... ................................... ................................... (c)............................... ................................0 16. Workers' compensation............................................................... ................................... ................................... ................................... ................................... ................................0 17.1 Other liability - occurrence........................................................... ..................3,161,776 ................................... ................................... ................................... ..................3,161,776 17.2 Other liability - claims-made........................................................ ................................... ................................... ................................... ................................... ................................0 18.1 Products liability - occurrence...................................................... .....................418,563 ................................... ................................... ................................... .....................418,563 18.2 Products liability - claims-made................................................... ................................... ................................... ................................... ................................... ................................0 19.1, 19.2 Private passenger auto liability.................................................... .........................5,658 ................................... ................................... ................................... .........................5,658 19.3, 19.4 Commercial auto liability............................................................. .....................949,722 ................................... ................................... ................................... .....................949,722 21. Auto physical damage................................................................. .....................389,578 ................................... ................................... ................................... .....................389,578 22. Aircraft (all perils)........................................................................ ................................... ................................... ................................... ................................... ................................0 23. Fidelity........................................................................................ ................................... ................................... ................................... ................................... ................................0 24. Surety......................................................................................... ................................... ................................... ................................... ................................... ................................0 26. Burglary and theft........................................................................ ................................... ................................... ................................... ................................... ................................0 27. Boiler and machinery................................................................... ................................... ................................... ................................... ................................... ................................0 28. Credit.......................................................................................... 29. International................................................................................ ................................... ................................... ................................... ................................... ................................0 30A. Reinsurance-Nonproportional Assumed Property........................ ................................... ................................... ................................... ................................... ................................0 30B. Reinsurance-Nonproportional Assumed Liability......................... ................................... ................................... ................................... ................................... ................................0 30C. Reinsurance-Nonproportional Assumed Financial Lines.............. ................................... ................................... ................................... ................................... ................................0 31. Aggregate write-ins for other lines of business............................ ................................0 ................................0 ................................0 ................................0 ................................0 32. TOTALS...................................................................................... 33. Accrued retrospective premiums based on experience......................................................................................................................................................................... ................................... 34. Balance (Line 32 plus Line 33)............................................................................................................................................................................................................... ................13,511,447 ................................... ................................... ................................... ................................... ................................0 ................13,511,447 ................................0 ................................0 ................................0 ................13,511,447 DETAILS OF WRITE-INS 3101. .................................................................................................... ................................... ................................... ................................... ................................... ................................0 3102. .................................................................................................... ................................... ................................... ................................... ................................... ................................0 3103. .................................................................................................... ................................... ................................... ................................... ................................... ................................0 3198. Summary of remaining write-ins for Line 31 from overflow page. ................................0 ................................0 ................................0 ................................0 ................................0 3199. TOTALS (Lines 3101 thru 3103 plus 3198) (Line 31 above)........ ................................0 ................................0 ................................0 ................................0 ................................0 (a) By gross premiums is meant the aggregate of all the premiums written in the policies or renewals in force. Are they so returned in this statement? Yes [ X ] No [ ] (b) State here basis of computation used in each case:.................... Pro-rata; Semi-monthly (c) Including $................0 reserved for deferred maternity and other similar benefits. 8 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT PART 2B - PREMIUMS WRITTEN Gross Premiums (Less Return Premiums), Including Policy and Membership Fees Written and Renewed During Year 1 2 3 Reinsurance Assumed Reinsurance Ceded a b a b Direct Business Line of Business (a) From Affiliates From Non-Affiliates To Affiliates To Non-Affiliates 4 Net Premiums Written (Cols. 1+2a+2b -3a-3b) 1. Fire............................................................................................ ...............111,601 ...............939,444 ............................. .................98,530 .................13,071 ...............939,444 2. Allied lines................................................................................. .................45,181 ...............373,651 ............................. .................39,819 ...................5,362 ...............373,651 3. Farmowners multiple peril......................................................... ............................. ............................. ............................. ............................. ............................. .........................0 4. Homeowners multiple peril........................................................ ............................. ............................. ............................. ............................. ............................. .........................0 5. Commercial multiple peril.......................................................... ............2,957,202 ..........18,710,595 ............................. ............2,607,314 ...............349,889 ..........18,710,594 6. Mortgage guaranty.................................................................... ............................. ............................. ............................. ............................. ............................. .........................0 8. Ocean marine............................................................................ ............................. ............................. ............................. ............................. ............................. .........................0 9. Inland marine............................................................................ 10. Financial guaranty..................................................................... ............................. ............................. ............................. ............................. ............................. .........................0 11.1 Medical malpractice - occurrence.............................................. ............................. ............................. ............................. ............................. ............................. .........................0 11.2 Medical malpractice - claims-made........................................... ............................. ............................. ............................. ............................. ............................. .........................0 12. Earthquake................................................................................ ............................. ............................. ............................. ............................. ............................. .........................0 13. Group accident and health......................................................... ............................. ............................. ............................. ............................. ............................. .........................0 14. Credit accident and health (group and individual)...................... ............................. ............................. ............................. ............................. ............................. .........................0 15. Other accident and health......................................................... ............................. ............................. ............................. ............................. ............................. .........................0 16. Workers' compensation............................................................. ............................. ............................. ............................. ............................. ............................. .........................0 17.1 Other liability - occurrence......................................................... ...............581,063 ............8,265,631 ............................. ...............526,493 .................54,570 ............8,265,631 17.2 Other liability - claims-made...................................................... ............................. ............................. ............................. ............................. ............................. .........................0 18.1 Products liability - occurrence.................................................... .................63,578 ............1,011,946 ............................. .................57,886 ...................5,692 ............1,011,946 18.2 Products liability - claims-made................................................. ............................. ............................. ............................. ............................. ............................. .........................0 .................33,200 ...............535,577 ............................. .................30,297 ...................2,903 ...............535,577 19.1, 19.2 Private passenger auto liability.................................................. ...................2,077 ...............762,352 ............................. ...................2,077 ............................. ...............762,352 19.3, 19.4 Commercial auto liability........................................................... ...............707,808 ............2,317,050 ............................. ...............467,751 ...............240,057 ............2,317,050 21. Auto physical damage............................................................... ...............267,788 ............1,121,399 ............................. ...............260,156 ...................7,632 ............1,121,399 22. Aircraft (all perils)...................................................................... ............................. ............................. ............................. ............................. ............................. .........................0 23. Fidelity...................................................................................... 24. Surety........................................................................................ ............................. ............................. ............................. ............................. ............................. .........................0 26. Burglary and theft...................................................................... ............................. ............................. ............................. ............................. ............................. .........................0 27. Boiler and machinery................................................................. ............................. ............................. ............................. ............................. ............................. .........................0 28. Credit........................................................................................ 29. International.............................................................................. ............................. ............................. ............................. ............................. ............................. .........................0 30A. Reinsurance-Nonproportional Assumed Property...................... ............XXX............ ............................. ............................. ............................. ............................. .........................0 30B. Reinsurance-Nonproportional Assumed Liability....................... ............XXX............ ............................. ............................. ............................. ............................. .........................0 30C. Reinsurance-Nonproportional Assumed Financial Lines............ ............XXX............ ............................. ............................. ............................. ............................. .........................0 31. Aggregate write-ins for other lines of business.......................... .........................0 32. TOTALS.................................................................................... ............................. ............................. ............................. ............................. ............................. .........................0 ............................. ............................. ............................. ............................. ............................. .........................0 .........................0 ............4,769,498 ..........34,037,645 .........................0 .........................0 .........................0 .........................0 .........................0 ............4,090,323 ...............679,176 ..........34,037,644 DETAILS OF WRITE-INS 3101. .................................................................................................. ............................. ............................. ............................. ............................. ............................. .........................0 3102. .................................................................................................. ............................. ............................. ............................. ............................. ............................. .........................0 3103. .................................................................................................. ............................. ............................. ............................. ............................. ............................. .........................0 3198. Summary of remaining write-ins for Line 31 from overflow page .........................0 .........................0 .........................0 .........................0 .........................0 .........................0 3199. TOTALS (Lines 3101 thru 3103 plus 3198) (Line 31 above)...... .........................0 .........................0 .........................0 .........................0 .........................0 .........................0 (a) Does the company's direct premiums written include premiums recorded on an installment basis? Yes [ ] No [ X ] If yes: (1) The amount of such installment premiums $...............0. (2) Amount at which such installment premiums would have been reported had they been recorded on an annualized basis $...............0. 9 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT PART 3 - LOSSES PAID AND INCURRED 1 2 Losses Paid Less Salvage 10 Line of Business 1. Fire...................................................................................................... 2. Allied lines........................................................................................... 3. Farmowners multiple peril.................................................................... 4. Homeowners multiple peril................................................................... 5. Commercial multiple peril..................................................................... 6. Mortgage guaranty............................................................................... 8. Ocean marine...................................................................................... 9. Inland marine....................................................................................... 10. Financial guaranty................................................................................ 11.1 Medical malpractice - occurrence......................................................... 11.2 Medical malpractice - claims-made...................................................... 12. Earthquake.......................................................................................... 13. Group accident and health................................................................... 14. Credit accident and health (group and individual)................................. 15. Other accident and health.................................................................... 16. Workers' compensation........................................................................ 17.1 Other liability - occurrence................................................................... 17.2 Other liability - claims-made................................................................. 18.1 Products liability - occurrence.............................................................. 18.2 Products liability - claims-made............................................................ 19.1, 19.2 Private passenger auto liability............................................................. 19.3, 19.4 Commercial auto liability...................................................................... 21. Auto physical damage.......................................................................... 22. Aircraft (all perils)................................................................................. 23. Fidelity................................................................................................. 24. Surety.................................................................................................. 26. Burglary and theft................................................................................. 27. Boiler and machinery........................................................................... 28. Credit................................................................................................... 29. International......................................................................................... 30A. Reinsurance-Nonproportional Assumed Property................................. 30B. Reinsurance-Nonproportional Assumed Liability.................................. 30C. Reinsurance-Nonproportional Assumed Financial Lines...................... 31. Aggregate write-ins for other lines of business..................................... 32. TOTALS............................................................................................... Direct Business ..................................82,588 ....................................1,098 ............................................. .............................................. ................................783,515 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. ..................................11,498 .............................................. .............................................. .............................................. ....................................1,101 ................................269,654 ..................................68,391 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. ....................XXX................... ....................XXX................... ....................XXX................... ...........................................0 .............................1,217,845 Reinsurance Assumed ................................749,693 ..................................64,361 .............................................. .............................................. .............................7,305,410 .............................................. .............................................. ................................213,919 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................1,218,551 .............................................. .............................................. .............................................. .............................2,886,141 .............................1,305,461 ................................542,034 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. ...........................................0 ...........................14,285,570 ............................................................................................................ ............................................................................................................ ............................................................................................................ Summary of remaining write-ins for Line 31 from overflow page.......... Totals (Lines 3101 thru 3103 plus 3198) (Line 31 above)..................... .............................................. .............................................. .............................................. ...........................................0 ...........................................0 .............................................. .............................................. .............................................. ...........................................0 ...........................................0 3101. 3102. 3103. 3198. 3199. 3 4 Reinsurance Net Payments Recovered (Cols. 1 + 2 - 3) ..................................82,588 ................................749,693 ....................................1,098 ..................................64,361 .............................................. ...........................................0 .............................................. ...........................................0 ................................783,515 .............................7,305,410 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ................................213,919 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 ..................................11,498 .............................1,218,551 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 ....................................1,101 .............................2,886,141 ................................269,654 .............................1,305,461 ..................................68,391 ................................542,034 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 ...........................................0 ...........................................0 .............................1,217,845 ...........................14,285,570 DETAILS OF WRITE-INS .............................................. ...........................................0 .............................................. ...........................................0 .............................................. ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 5 6 7 Net Losses Unpaid Current Year (Part 3A, Col. 5) ................................266,170 ................................125,361 .............................................. .............................................. .............................7,051,597 .............................................. .............................................. ..................................96,355 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................5,593,255 .............................................. ................................855,184 .............................................. .............................2,245,815 .............................1,536,223 ................................201,530 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. ...........................................0 ...........................17,971,490 Net Losses Unpaid Prior Year ................................180,683 ..................................44,987 .............................................. .............................................. .............................3,610,102 .............................................. .............................................. ..................................23,770 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................3,417,765 .............................................. ................................509,022 .............................................. .............................4,616,230 ................................388,455 ................................167,079 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. ...........................................0 ...........................12,958,093 Losses Incurred Current Year (Cols. 4 + 5 - 6) ................................835,180 ................................144,735 ...........................................0 ...........................................0 ...........................10,746,905 ...........................................0 ...........................................0 ................................286,504 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 .............................3,394,041 ...........................................0 ................................346,162 ...........................................0 ................................515,726 .............................2,453,229 ................................576,485 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................19,298,967 8 Percentage of Losses Incurred (Col. 7, Part 3) to Premiums Earned (Col. 4, Part 2) ......................................89.1 ......................................39.1 .............................................. .............................................. ......................................61.8 .............................................. .............................................. ......................................57.7 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. ......................................42.7 .............................................. ......................................36.8 .............................................. ......................................47.3 ....................................135.6 ......................................55.9 .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. .............................................. ........................................0.0 ......................................60.3 .............................................. .............................................. .............................................. ...........................................0 ...........................................0 .............................................. .............................................. .............................................. ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 ...........................................0 .............................................. .............................................. .............................................. ........................................0.0 ........................................0.0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT PART 3A - UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES 1 Adjusted or in Process of Adjustment a b 11 1. 2. 3. 4. 5. 6. 8. 9. 10. 11.1 11.2 12. 13. 14. 15. 16. 17.1 17.2 18.1 18.2 19.1, 19.2 19.3, 19.4 21. 22. 23. 24. 26. 27. 28. 29. 30A. 30B. 30C. 31. 32. 3101. 3102. 3103. 3198. 3199. (a) Line of Business Fire................................................................................................................... Allied lines........................................................................................................ Farmowners multiple peril................................................................................ Homeowners multiple peril............................................................................... Commercial multiple peril................................................................................. Mortgage guaranty........................................................................................... Ocean marine.................................................................................................. Inland marine................................................................................................... Financial guaranty............................................................................................ Medical malpractice - occurrence.................................................................... Medical malpractice - claims-made.................................................................. Earthquake....................................................................................................... Group accident and health............................................................................... Credit accident and health (group and individual)............................................ Other accident and health................................................................................ Workers' compensation.................................................................................... Other liability - occurrence............................................................................... Other liability - claims-made............................................................................. Products liability - occurrence.......................................................................... Products liability - claims-made....................................................................... Private passenger auto liability........................................................................ Commercial auto liability.................................................................................. Auto physical damage...................................................................................... Aircraft (all perils)............................................................................................. Fidelity.............................................................................................................. Surety............................................................................................................... Burglary and theft............................................................................................. Boiler and machinery....................................................................................... Credit............................................................................................................... International..................................................................................................... Reinsurance-Nonproportional Assumed Property........................................... Reinsurance-Nonproportional Assumed Liability............................................. Reinsurance-Nonproportional Assumed Financial Lines................................. Aggregate write-ins for other lines of business................................................ TOTALS........................................................................................................... Direct .............................84,600 ......................................... ......................................... ......................................... ...........................391,027 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... .............................25,560 ......................................... ......................................... ......................................... ......................................... ...........................144,031 .............................25,000 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ................XXX.................. ................XXX.................. ................XXX.................. ......................................0 ...........................670,218 Reinsurance Assumed ...........................158,830 .............................89,581 ......................................... ......................................... ........................4,422,678 ......................................... ......................................... .............................96,355 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ........................1,752,002 ......................................... ...............................2,975 ......................................... ...........................936,143 ...........................749,436 ...........................130,909 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................0 ........................8,338,909 ......................................................................................................................... ......................................... ......................................... ......................................................................................................................... ......................................... ......................................... ......................................................................................................................... ......................................... ......................................... Summary of remaining write-ins for Line 31 from overflow page..................... ......................................0 ......................................0 Totals (Lines 3101 thru 3103 plus 3198) (Line 31 above)............................... ......................................0 ......................................0 Including $..........0 for present value of life indemnity claims and $..........0 reserve for deferred maternity and other similar benefits. 2 3 Deduct Reinsurance Net Losses Excluding Recoverable from Incurred but Authorized and not Reported Unauthorized Companies (Cols. 1a + 1b - 2) .............................84,600 ...........................158,830 ......................................... .............................89,581 ......................................... ......................................0 ......................................... ......................................0 ...........................391,027 ........................4,422,678 ......................................... ......................................0 ......................................... ......................................0 ......................................... .............................96,355 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 .............................25,560 ........................1,752,002 ......................................... ......................................0 ......................................... ...............................2,975 ......................................... ......................................0 ......................................... ...........................936,143 ...........................144,031 ...........................749,436 .............................25,000 ...........................130,909 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................0 ......................................0 ...........................670,218 ........................8,338,909 DETAILS OF WRITE-INS ......................................... ......................................0 ......................................... ......................................0 ......................................... ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 Direct .............................15,401 ...............................5,134 ......................................... ......................................... ...........................378,008 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ...........................170,152 ......................................... .............................18,906 ......................................... ...............................2,969 ...........................154,409 .............................14,499 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ................XXX.................. ................XXX.................. ................XXX.................. ......................................0 ...........................759,478 4 Incurred But Not Reported b Reinsurance Assumed ...........................107,340 .............................35,780 ......................................... ......................................... ........................2,628,919 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ........................3,841,253 ......................................... ...........................852,209 ......................................... ........................1,309,672 ...........................786,787 .............................70,621 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................0 ........................9,632,581 ......................................... ......................................... ......................................... ......................................0 ......................................0 ......................................... ......................................... ......................................... ......................................0 ......................................0 a 5 6 c Reinsurance Ceded .............................15,401 ...............................5,134 ......................................... ......................................... ...........................378,008 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ...........................170,152 ......................................... .............................18,906 ......................................... ...............................2,969 ...........................154,409 .............................14,499 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................0 ...........................759,478 Net Losses Unpaid (Cols. 3 + 4a + 4b - 4c) ...........................266,170 ...........................125,361 ......................................0 ......................................0 ........................7,051,597 ......................................0 ......................................0 .............................96,355 ......................................0 ......................................0 ......................................0 ......................................0 (a).................................0 ......................................0 (a).................................0 ......................................0 ........................5,593,255 ......................................0 ...........................855,184 ......................................0 ........................2,245,815 ........................1,536,223 ...........................201,530 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................17,971,490 Unpaid Loss Adjustment Expenses .............................28,512 ...............................9,639 ......................................... ......................................... ........................2,825,462 ......................................... ......................................... ...............................1,330 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ........................2,937,682 ......................................... ...........................532,426 ......................................... ...........................399,319 ...........................236,125 .............................48,596 ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................... ......................................0 ........................7,019,091 ......................................... ......................................... ......................................... ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................0 ......................................... ......................................... ......................................... ......................................0 ......................................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY UNDERWRITING AND INVESTMENT EXHIBIT PART 4 - EXPENSES 1 Loss Adjustment Expenses 1. 2 Other Underwriting Expenses 3 4 Investment Expenses Total Claim adjustment services: a. Direct............................................................................................................................. ......................512,919 .................................... .................................... ......................512,919 b. Reinsurance assumed.................................................................................................... ...................4,673,492 .................................... .................................... ...................4,673,492 c. Reinsurance ceded........................................................................................................ ......................512,919 .................................... .................................... ......................512,919 d. Net claim adjustment services (a + b - c)....................................................................... ...................4,673,492 .................................0 .................................0 2. ...................4,673,492 Commission and brokerage: a. Direct excluding contingent............................................................................................ .................................... ...................1,047,602 .................................... ...................1,047,602 b. Reinsurance assumed excluding contingent................................................................... .................................... ...................7,403,333 .................................... ...................7,403,333 c. Reinsurance ceded excluding contingent....................................................................... .................................... ...................1,047,602 .................................... ...................1,047,602 d. Contingent - direct.......................................................................................................... .................................... ........................37,984 .................................... ........................37,984 e. Contingent - reinsurance assumed................................................................................. .................................... ......................302,859 .................................... ......................302,859 f. Contingent - reinsurance ceded...................................................................................... .................................... ........................37,984 .................................... ........................37,984 g. Policy and membership fees.......................................................................................... .................................... .................................... .................................... .................................0 h. Net commission and brokerage (a + b - c + d + e - f + g)............................................... .................................0 ...................7,706,192 .................................0 ...................7,706,192 3. Allowances to managers and agents.................................................................................... .................................... ..........................5,230 .................................... ..........................5,230 4. Advertising........................................................................................................................... 5. Boards, bureaus and associations....................................................................................... ........................12,372 ......................150,781 .................................... ......................163,153 6. Surveys and underwriting reports......................................................................................... .................................... ........................24,843 .................................... ........................24,843 7. Audit of assureds' records.................................................................................................... .................................... ......................152,655 .................................... ......................152,655 8. Salary and related items: .................................... ........................40,513 .................................... ........................40,513 a. Salaries.......................................................................................................................... ......................480,523 ...................1,646,526 .................................... ...................2,127,049 b. Payroll taxes.................................................................................................................. ..........................2,966 ..........................8,263 .................................... ........................11,229 9. Employee relations and welfare........................................................................................... .................................... ......................164,815 .................................... ......................164,815 10. Insurance............................................................................................................................. .............................118 ........................26,631 .................................... ........................26,749 11. Directors' fees...................................................................................................................... .................................... .................................... .................................... .................................0 12. Travel and travel items......................................................................................................... ..........................3,333 ......................126,926 .................................... ......................130,259 13. Rent and rent items.............................................................................................................. ........................25,121 ......................128,892 .................................... ......................154,013 14. Equipment............................................................................................................................ ..........................3,676 ........................18,727 .................................... ........................22,403 15. Printing and stationery......................................................................................................... ........................10,559 ......................108,063 .................................... ......................118,622 16. Postage, telephone and telegraph, exchange and express.................................................. ........................11,653 ........................74,839 .................................... ........................86,492 17. Legal and auditing................................................................................................................ ........................59,185 ......................184,697 ........................46,875 ......................290,757 17A. Totals (Lines 3 to 17)........................................................................................................... 18. ......................609,506 ...................2,862,401 ........................46,875 ...................3,518,782 Taxes, licenses and fees: a. State and local insurance taxes deducting guaranty association credits of $..........0.................................................................................................................... .................................... ......................606,323 .................................... ......................606,323 b. Insurance department licenses and fees........................................................................ .................................... ........................53,589 .................................... ........................53,589 c. Gross guaranty association assessments....................................................................... .................................... ..........................6,001 .................................... ..........................6,001 d. All other (excluding federal and foreign income and real estate).................................... .................................... ..........................4,478 .................................... ..........................4,478 e. Total taxes, licenses and fees (a + b + c + d)................................................................. .................................0 ......................670,391 .................................0 ......................670,391 19. Real estate expenses........................................................................................................... .................................... .................................... .................................... .................................0 20. Real estate taxes................................................................................................................. .................................... .................................... .................................... .................................0 20A. Reimbursements by uninsured accident and health plans.................................................... .................................... .................................... .................................... .................................0 21. Aggregate write-ins for miscellaneous expenses.................................................................. ........................15,680 ......................230,125 .................................0 ......................245,805 22. Total expenses incurred....................................................................................................... ...................5,298,678 .................11,469,109 ........................46,875 (a).............16,814,662 23. Less unpaid expenses - current year.................................................................................... ...................7,019,092 ...................1,299,778 .................................... ...................8,318,870 24. Add unpaid expenses - prior year......................................................................................... ...................4,576,330 ......................996,920 .................................... ...................5,573,250 25. Amounts receivable relating to uninsured accident and health plans, prior year................... .................................... .................................... .................................... .................................0 26. Amounts receivable relating to uninsured accident and health plans, current year............... .................................... .................................... .................................... .................................0 27. TOTAL EXPENSES PAID (Lines 22 - 23 + 24 - 25 + 26)..................................................... ...................2,855,916 .................11,166,251 ........................46,875 .................14,069,042 DETAILS OF WRITE-INS 2101. Computer Processing........................................................................................................... ........................15,639 ......................161,780 .................................... ......................177,419 2102. Food and Entertainment....................................................................................................... ...............................41 ........................60,946 .................................... ........................60,987 2103. Other.................................................................................................................................... .................................... ..........................7,399 .................................... ..........................7,399 2198. Summary of remaining write-ins for Line 21 from overflow page.......................................... .................................0 .................................0 .................................0 .................................0 2199. Totals (Lines 2101 thru 2103 plus 2198) (Line 21 above)..................................................... ........................15,680 ......................230,125 .................................0 (a) Includes management fees of $.....65,000 to affiliates and $..........0 to non-affiliates. 12 ......................245,805 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY EXHIBIT 1 - ANALYSIS OF NON-ADMITTED ASSETS AND RELATED ITEMS 1 End of Current Year 2 End of Prior Year 1. Summary of Items Page 2, Lines 10 to 15 and 17 to 19, Column 3.................................................. ............................................. ............................................. 2. Other Assets: 3 Changes for Year (Increase) Decrease ..........................................0 2.1 Bills receivable, not taken for premium..................................................................................... ............................................. ............................................. ..........................................0 2.2 Furniture, equipment and supplies........................................................................................... ............................................. ............................................. ..........................................0 2.3 Loans on personal security, endorsed or not............................................................................ ............................................. ............................................. ..........................................0 3. Total (Lines 2.1 to 2.3) (Page 2, Line 20, Column 3)........................................................................ ..........................................0 ..........................................0 ..........................................0 4. Aggregate write-ins for other than invested assets (Page 2, Line 21, Column 3).............................. ..........................................0 ..........................................0 ..........................................0 5. Aggregate write-ins for related items................................................................................................ ..........................................0 ..........................................0 ..........................................0 6. Total (Line 1 plus Lines 3 to 5)......................................................................................................... ..........................................0 ..........................................0 ..........................................0 0401. ........................................................................................................................................................ ............................................. ............................................. ..........................................0 0402. ........................................................................................................................................................ ............................................. ............................................. ..........................................0 0403. ........................................................................................................................................................ ............................................. ............................................. ..........................................0 DETAILS OF WRITE-INS 0498. Summary of remaining write-ins for Line 4 from overflow page........................................................ ..........................................0 ..........................................0 ..........................................0 0499. Totals (Lines 0401 thru 0403 plus 0498) (Line 4 above)................................................................... ..........................................0 ..........................................0 ..........................................0 0501. Loans on company's stock............................................................................................................... ............................................. ............................................. ..........................................0 0502. ........................................................................................................................................................ ............................................. ............................................. ..........................................0 0503. ........................................................................................................................................................ ............................................. ............................................. ..........................................0 0598. Summary of remaining write-ins for Line 5 from overflow page........................................................ ..........................................0 ..........................................0 ..........................................0 0599. Totals (Lines 0501 thru 0503 plus 0598) (Line 5 above)................................................................... ..........................................0 ..........................................0 ..........................................0 13 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY EXHIBIT 2 - RECONCILIATION OF LEDGER ASSETS 1 Current Year 2 Prior Year INCREASES IN LEDGER ASSETS 1. Net premiums written (Part 2, Line 32, Column 1)..................................................................................................................... .............................34,037,644 .............................30,365,998 2. Interest, dividends and real estate income received (Part 1, Line 9, Column 3)......................................................................... ...............................3,948,035 ...............................2,904,699 3. From sale or maturity of ledger assets (Part 1A, Line 9, Column 2)........................................................................................... 4. Other income items or increases, viz: .....................................9,043 .....................................1,134 a. Agents' balances previously charged off.............................................................................................................................. ............................................... ............................................... b. Remittances from home office to U.S. branch (gross)......................................................................................................... ............................................... ............................................... c. Funds held under reinsurance treaties (net)........................................................................................................................ ............................................... ...............................1,737,401 d. Borrowed money (gross)..................................................................................................................................................... ............................................... ............................................... e. Amounts withheld or retained for account of others (net)..................................................................................................... ............................................... ............................................... f. Aggregate write-ins for increases in ledger assets............................................................................................................... ............................................0 ..................................461,822 5. Adjustment in book value of ledger assets (Part 1A, Line 9, Column 4)..................................................................................... ............................................... ............................................... 6. Capital paid in (Page 4, Line 24a)............................................................................................................................................. ............................................... ............................................... 7. Surplus paid in (Page 4, Line 25a)............................................................................................................................................ ............................................... ............................................... 7A. Surplus notes (Page 4, Line 23A).............................................................................................................................................. ............................................... ............................................... 8. .............................37,994,722 .............................35,471,054 Total (Lines 1 to 7A).................................................................................................................................................................. DECREASES IN LEDGER ASSETS 9. Net losses paid (Part 3, Line 32, Column 4).............................................................................................................................. .............................14,285,570 .............................13,723,329 10. Expenses paid (Part 4, Line 27, Column 4)............................................................................................................................... .............................14,069,042 .............................12,354,337 10A. Interest expense (Part 1, Line 10A)........................................................................................................................................... ............................................... ............................................... 11. From sale or maturity of ledger assets ( Part 1A, Line 9, Col. 3)............................................................................................... ..................................288,042 ............................................... 11A. Surplus notes (Page 4, Line 23A).............................................................................................................................................. 12. ............................................... ............................................... Other disbursement items or decreases, viz: a. Agents' balances charged off.............................................................................................................................................. ........................................928 ............................................... b. Remittances to home office from U.S. branch (gross)......................................................................................................... ............................................... ............................................... c. Funds held under reinsurance treaties (net)........................................................................................................................ ..................................816,551 ............................................... d. Borrowed money (gross)..................................................................................................................................................... ............................................... ............................................... e. Amounts withheld or retained for account of others (net)..................................................................................................... ............................................... ............................................... f. Aggregate write-ins for decreases in ledger assets.............................................................................................................. ..................................320,200 ............................................0 13. Adjustment in book value of ledger assets (Part 1A, Line 9, Column 5) and depreciation (Part 1, Line 11)............................... ............................................... ............................................... 14. Federal and foreign income taxes paid...................................................................................................................................... ..................................985,000 ..................................675,000 15. Dividends paid stockholders...................................................................................................................................................... 16. Dividends to policyholders on direct business, less $..........0 dividends on reinsurance assumed or ceded (net)...................... ............................................... ............................................... 17. Total (Lines 9 to 16).................................................................................................................................................................. ............................................... ..................................400,000 .............................30,765,333 .............................27,152,666 RECONCILIATION BETWEEN YEARS 18. Amount of ledger assets as per balance December 31 of prior year.......................................................................................... .............................62,596,072 .............................54,277,684 19. Increase or (decrease) in ledger assets during the year (Line 8 minus Line 17)........................................................................ ...............................7,229,389 ...............................8,318,388 20. Balance = ledger assets December 31 of current year.............................................................................................................. .............................69,825,461 .............................62,596,072 DETAILS OF WRITE-INS 04f01. Payable to Affiliates................................................................................................................................................................... ............................................... ..................................461,822 04f02. .................................................................................................................................................................................................. ............................................... ............................................... 04f03. .................................................................................................................................................................................................. ............................................... ............................................... 04f98. Summary of remaining write-ins for Line 4f from overflow page................................................................................................ ............................................0 04f99. Totals (Lines 04f01 thru 04f03 plus 04f98) (Line 4f above)........................................................................................................ ............................................0 ..................................461,822 12f01. Payable to Affiliates................................................................................................................................................................... ..................................320,200 ............................................... 12f02. .................................................................................................................................................................................................. ............................................... ............................................... 12f03. .................................................................................................................................................................................................. ............................................... ............................................... 12f98. Summary of remaining write-ins for Line 12f from overflow page.............................................................................................. ............................................0 ............................................0 12f99. Totals (Lines 12f01 thru 12f03 plus 12f98) (Line 12f above)...................................................................................................... ..................................320,200 ............................................0 14 ............................................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY EXHIBIT OF PREMIUMS AND LOSSES (Statutory Page 14 Data) NAIC Group Code.....1218 15 1. 2.1 2.2 2.3 3. 4. 5.1 5.2 6. 8. 9. 10. 11. 12. 13. 14. 15.1 15.2 15.3 15.4 15.5 15.6 15.7 16. 17. 18. 19.1 19.2 19.3 19.4 21.1 21.2 22. 23. 24. 26. 27. 28. 31. 32. 3101. 3102. 3103. 3198. 3199. (a) NAIC Company Code....10673 Gross Premiums, Including Policy and Membership Fees, Less Return Premiums and Premiums on Policies not Taken 1 2 Direct Premiums Direct Premiums Written Earned .................111,601 .................102,616 ...................45,181 ...................38,210 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ..............1,620,551 ..............1,247,192 ..............1,336,651 ..............1,033,073 ............................... ............................... ............................... ............................... ...................33,200 ...................25,596 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... .................581,063 .................478,787 ...................63,578 ...................54,603 ............................... ............................... .....................2,077 .....................2,174 .....................4,876 .....................3,543 .................702,932 .................462,204 ........................395 ........................412 .................267,393 .................166,425 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................0 ............................0 ..............4,769,498 ..............3,614,835 BUSINESS IN GRAND TOTAL DURING THE YEAR 3 Dividends Paid or Credited to Policyholders on Direct Business .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. ...........................0 ...........................0 4 5 Direct Losses Direct Unearned Paid Line of Business Premium Reserves (deducting salvage) Fire.............................................................................................. ...................39,137 ...................82,588 Allied lines.................................................................................... ...................19,149 .....................1,098 Multiple peril crop......................................................................... ............................... ............................... Federal flood................................................................................ ............................... ............................... Farmowners multiple peril............................................................ ............................... ............................... Homeowners multiple peril........................................................... ............................... ............................... Commercial multiple peril (non-liability portion)............................ .................674,775 .................739,142 Commercial multiple peril (liability portion)................................... .................596,429 ...................44,373 Mortgage guaranty....................................................................... ............................... ............................... Ocean marine............................................................................... ............................... ............................... Inland marine............................................................................... ...................13,909 ............................... Financial guaranty........................................................................ ............................... ............................... Medical malpractice..................................................................... ............................... ............................... Earthquake................................................................................... ............................... ............................... Group accident and health........................................................... ............................... ............................... Credit A & H (group and individual).............................................. ............................... ............................... Collectively renewable A&H......................................................... ............................... ............................... Non-cancelable A & H.................................................................. ............................... ............................... Guaranteed renewable A & H....................................................... ............................... ............................... Non-renewable for stated reasons only........................................ ............................... ............................... Other accident only...................................................................... ............................... ............................... All other A & H............................................................................. ............................... ............................... Federal employees health benefits program premium.................. ............................... ............................... Workers' compensation................................................................ ............................... ............................... Other liability................................................................................ .................253,650 ...................11,498 Products liability........................................................................... ...................30,429 ............................... Private passenger auto no-fault (personal injury protection)......... ............................... ............................... Other private passenger auto liability........................................... ..........................39 .....................1,101 Commercial auto no-fault (personal injury protection)................... .....................1,333 ............................... Other commercial auto liability..................................................... .................319,908 .................269,654 Private passenger auto physical damage..................................... ..........................12 ............................... Commercial auto physical damage............................................... .................110,000 ...................68,391 Aircraft (all perils)......................................................................... ............................... ............................... Fidelity......................................................................................... ............................... ............................... Surety.......................................................................................... ............................... ............................... Burglary and theft......................................................................... ............................... ............................... Boiler and machinery.................................................................... ............................... ............................... Credit........................................................................................... ............................... ............................... Aggregate write-ins for other lines of business............................. ............................0 ............................0 TOTALS (a)................................................................................. ..............2,058,771 ..............1,217,845 DETAILS OF WRITE-INS ..................................................................................................... ............................... ............................... .............................. ............................... ............................... ..................................................................................................... ............................... ............................... .............................. ............................... ............................... ..................................................................................................... ............................... ............................... .............................. ............................... ............................... Summary of remaining write-ins for Line 31 from overflow page.. ............................0 ............................0 ...........................0 ............................0 ............................0 TOTALS (Lines 3101 thru 3103 plus 3198) (Line 31 above)......... ............................0 ............................0 ...........................0 ............................0 ............................0 Finance and service charges not included in Lines 1 to 32 $...............0. 6 *000010673200043058100* 7 8 9 10 11 12 Direct Losses Incurred .................178,164 .....................4,790 ............................... ............................... ............................... ............................... .................957,045 .................453,395 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... .................140,517 ...................12,273 ............................... .......................(952) ............................... .................540,081 .........................(55) .................106,398 ............................... ............................... ............................... ............................... ............................... ............................... ............................0 ..............2,391,655 Direct Losses Unpaid .................100,001 .....................5,134 ............................... ............................... ............................... ............................... .................273,345 .................495,690 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... .................195,712 ...................18,906 ............................... .....................2,969 ............................... .................298,440 ........................269 ...................39,228 ............................... ............................... ............................... ............................... ............................... ............................... ............................0 ..............1,429,692 Direct Defense and Cost Containment Expense Paid ............................... ............................... ............................... ............................... ............................... ............................... ............................... .....................2,606 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................0 .....................2,606 Direct Defense and Cost Containment Expense Incurred .....................2,914 ........................463 ............................... ............................... ............................... ............................... ...................45,571 .................146,453 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ...................68,699 .....................5,631 ............................... .........................(28) ............................... ...................43,477 .........................(17) .....................5,063 ............................... ............................... ............................... ............................... ............................... ............................... ............................0 .................318,226 Direct Defense and Cost Containment Expense Unpaid .....................3,753 ........................673 ............................... ............................... ............................... ............................... ...................50,127 .................187,898 ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ............................... ...................96,195 ...................10,907 ............................... ........................109 ............................... ...................43,905 ............................... .....................5,063 ............................... ............................... ............................... ............................... ............................... ............................... ............................0 .................398,630 Commissions and Brokerage Expenses ..................26,618 ..................10,044 .............................. .............................. .............................. .............................. ................387,153 ................297,669 .............................. .............................. ....................7,735 .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. ................139,308 ..................14,244 .............................. .......................742 ....................1,014 ................145,993 .........................83 ..................54,982 .............................. .............................. .............................. .............................. .............................. .............................. ...........................0 .............1,085,585 Taxes, Licenses and Fees .........................37 .........................77 .............................. .............................. .............................. .............................. ..................20,618 ..................15,871 .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. .............................. ....................1,548 .......................133 .............................. .........................49 .......................200 ..................22,007 ...........................9 ....................8,746 .............................. .............................. .............................. .............................. .............................. .............................. ...........................0 ..................69,296 ............................... ............................... ............................... ............................0 ............................0 ............................... ............................... ............................... ............................0 ............................0 ............................... ............................... ............................... ............................0 ............................0 ............................... ............................... ............................... ............................0 ............................0 ............................... ............................... ............................... ............................0 ............................0 .............................. .............................. .............................. ...........................0 ...........................0 .............................. .............................. .............................. ...........................0 ...........................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY GENERAL INTERROGATORIES 1. (a) Does the company issue both participating and non-participating policies? (b) If yes, state the amount of calendar year net premiums written on: (i) participating policies (ii) non-participating policies Yes [ ] $...................................0 $...................................0 2. For Mutual Companies and Reciprocal Exchanges only: (a) Does company issue assessable policies? (b) Does company issue non-assessable policies? (c) If assessable policies are issued, what is the extent of the contingent liability of the policyholders? (d) Total amount of assessments paid or ordered to be paid during the year on deposit notes or contingent premiums? Yes [ ] No [ ] Yes [ ] No [ ] ....................................0 $...................................0 3. For Reciprocal Exchanges only: (a) Does the Exchange appoint local agents? (b) If yes, is the commission paid: (i) out of Attorney's-in-Fact compensation? (ii) as a direct expense of the Exchange? (c) What expenses of the Exchange are not paid out of the compensation of the Attorney-in-Fact? Yes [ ] Yes [ ] (d) Has any Attorney-in-Fact compensation, contingent on fulfillment of certain conditions, been deferred? (e) If yes, give full information 4. No [ X ] Yes [ ] No [ ] No [ ] No [ ] N/A [ ] N/A [ ] Yes [ ] No [ ] CAPITAL STOCK OF THIS COMPANY 2 3 4 5 6 7 Number of Shares Number of Shares Par Value Redemption Price Is Dividend Rate Are Dividends Authorized Outstanding Per Share if Callable Limited? Cumulative? Preferred................................... ...................................... ...................................... ...................................... ...................................... ...Yes [ ].........No [ ].... ...Yes [ ].........No [ ].... Common................................... ..............1,000,000.000 .................840,000.000 ..............................5.00 .................XXX.............. .................XXX............... .................XXX............... 1 Class 5. (a) Does the company own any securities of a real estate holding company or otherwise hold real estate indirectly? (b) If yes, (i) explain (ii) Name of real estate holding company..................... (iii) Number of parcels involved (iv) Total book value Yes [ ] No [ X ] ....................................0 $...................................0 Yes [ X ] 6. (a) Is the company a member of an Insurance Holding Company System consisting of two or more affiliated persons, one or more of which is an insurer? (b) If yes, did the company register and file with its domiciliary State Insurance Commissioner, Director, or Superintendent, or with such regulatory official of the state of domicile of the principal insurer in the Holding Company System, a registration statement providing disclosure substantially similar to the standards adopted by the National Association of Insurance Commissioners in its Model Holding Company System Regulatory Act and model regulations pertaining thereto, or is the company subject to standards and disclosure requirements substantially similar to those required by such Act and regulations? Yes [ X ] No [ ] (c) State regulating................... Commonwealth of Pennsylvania 7. (a) Does any foreign (non-United States) person or entity directly or indirectly control 10% or more of the company? (b) If yes, (i) state the percentage of foreign control: (ii) state the nationality(s) of the foreign person(s) or entity(s) or if the is a mutual or reciprocal, the nationality of its manager or attorney in fact; and No [ ] N/A [ ] Yes [ ] No [ X ] ........................................ (iii) identify the type of entity(s) (e.g.; individual, corporation or government, manager or attorney in fact). 8. (a) Total amount loaned during the year: (i) to directors or other officers (ii) to stockholders not officers (b) Total amount of loans outstanding at end of year: (i) to directors or other officers (ii) to stockholders not officers $...................................0 $...................................0 $...................................0 $...................................0 9. (a) Did any person while an officer, director or trustee of the company receive directly or indirectly, during the period covered by this statement, any commission on the business transactions of the company? (b) Did any person while an officer, director, trustee or employee receive directly or indirectly, during the period covered by this statement, any compensation in addition to their regular compensation on account of the reinsurance transactions of the company? (c) Has the company an established procedure for disclosure to its board of directors or trustees of any material interest or affiliation on the part of its officers directors, trustees, or responsible employees which is in or is likely to conflict with the official duties of such person? (d) Except for retirement plans generally applicable to its staff employees and agents and contracts with its agents for the payment of commissions, has the company any agreement with a person whereby it agrees that for any service rendered or to be rendered, they shall receive directly or indirectly any salary, compensation or emolument that will extend beyond a period of 12 months from the date of the agreement? Yes [ ] No [ X ] Yes [ ] No [ X ] Yes [ X ] No [ ] Yes [ ] No [ X ] 10. What amount of installment notes is owed and now held by the company? $...................................0 11. (a) Have any of these notes been hypothecated, sold or used in any manner as security for money loaned within the past year? (b) If yes, what amount? Yes [ ] No [ X ] $...................................0 12. (a) Largest net aggregate amount insured in any one risk (excluding workers' compensation) (b) Does any reinsurance contract considered in the calculation of this amount include an aggregate limit of recovery without also including a reinstatement provision? (c) State the number of reinsurance contracts (excluding individual facultative risk certificates, but including facultative programs, automatic facilities or facultative obligatory contracts) considered in the calculation of this amount. $........................500,000 16 Yes [ ] No [ X ] ....................................1 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY GENERAL INTERROGATORIES (continued) 13. (a) What provision has this company made to protect itself from an excessive loss in the event of a catastrophe under a workers' compensation contract issued without limit of loss? Not Applicable (b) Describe the method used to estimate this company's probable maximum insurance loss, and identify the types of insured exposures comprising tha probable maximum loss, the locations of concentrations of those exposures and the external resources (such as consulting firms or computer software models), if any, used in the estimation process. What provision has this company made (such as a catastrophic reinsurance program) to protect itsel from an excessive loss arising from the types and concentrations of insured exposures comprising its probable maximum property insurance loss? Company utilizes RMS software, IRAS Model, to evaluate exposure to potential windstorm loss. Major geographic areas of concentration in evaluating exposures are Florida, Hawaii, and the Gulf Coast. In 2000, Penn-Star participated in a property Catastrophe Excess Reinsurance Agreement in which th e Company is insured on $24 million in excess of $1 million (Company's retention is 2.5 percent on the first $4 million) (c) Does the company carry catastrophe reinsurance protections, with provision for at least one reinstatement, in an amount sufficient to cover its estimated probable maximum loss attributable to a single loss event or occurrence? (d) If no, describe any arrangements or mechanisms employed by the company to supplement its catastrophe reinsurance program or to hedge its exposure to unreinsured catastrophic loss. 14. (a) Has this company guaranteed any financed premium accounts? (b) If yes, give full information 15. (a) Has this company reinsured any risk with any other company under a quota share reinsurance contract which includes a provision which would limit the reinsurer's losses below the stated quota share percentage (e.g., a deductible, a loss ratio corridor, a loss ratio cap, an aggregate limit or any similar provision)? (b) If yes, indicate the number of reinsurance contracts containing such provisions: 16. (a) Has this company reinsured any risk with any other company and agreed to release such company from liability, in whole or in part, from any loss that may occur on the risk, or portion thereof, reinsured? (b) If yes, give full information Yes [ X ] No [ ] Yes [ ] No [ X ] Yes [ ] No [ X ] ....................................0 Yes [ ] No [ X ] 17. If the company has assumed risks from another company, there should be charged on account of such reinsurances a reserve equal to that which the origina company would have been required to charge had it retained the risks. Has this been done? Yes [ X ] 18. (a) Has this company guaranteed policies issued by any other company and now in force? (b) If yes, give full information No [ ] Yes [ ] N/A [ ] No [ X ] 19. (a) Were all stocks, bonds and other securities owned December 31 of current year, over which the company has exclusive control in the actual possession of the company on said date, except as shown by the Schedule E-Part 2 - Special Deposits? (b) If no, give full and complete information relating thereto Securities held by PNC bank via various custody agreements Yes [ ] No [ X ] 20. (a) Were any of the stocks, bonds or other assets of the company owned at December 31 of the current year not exclusively under the control of the company, excep as shown on the Schedule E-Part 2 - Special Deposits; or has the company sold or transferred any assets subject to a put option contract that is currently in force? (Exclude securities subject to Interrogatory 21.) Yes [ ] No [ X ] (b) If yes, state the amount thereof at December 31 of the current year: (i) loaned to others $...................................0 (ii) subject to repurchase agreements $...................................0 (iii) subject to reverse repurchase agreements $...................................0 (iv) subject to dollar repurchase agreements $...................................0 (v) subject to reverse dollar repurchase agreements $...................................0 (vi) pledged as collateral $...................................0 (vii) placed under option agreements $...................................0 (viii) letter stock or other securities restricted as to sale $...................................0 (ix) other $...................................0 (c) For each category above, if any of these assets are held by others, identify by whom held (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (d) For categories (b)(i) and (iii) above, and for any other securities that were made available for use by another person during the year covered by this statement, attach a schedule as shown in the instructions to the annual statement. (e) For category (b)(vii) above, do any of the option agreements involve asset transfers with put options? Yes [ ] No [ ] N/A [ X ] If yes, disclose in the Notes to Financial Statements the information specified in the instructions to the annual statement. 21. Were any of the assets reported in this statement subject to a contractual obligation to transfer to another party without the liability for such obligation being reported in this statement? Yes [ ] No [ X ] If yes, state the amount thereof at December 31 of the current year: (i) rented from others $...................................0 (ii) borrowed from others $...................................0 (iii) leased from others $...................................0 (iv) other $...................................0 Disclose in Notes to Financial Statements the nature of each of these obligations. 22. (a) State as of what date the latest financial examination of the company was made or is being made. ...............12/31/1998....... (b) State the as of date of the latest financial examination report that is available from either the state of domicile or the company. This date should be the date of the examined balance sheet and not the date the report was completed or released ...............12/31/1998....... (c) State as of what date the latest financial examination report became available to other states or the public from either the state of domicile or the company This is the release date or completion date of the examination report and not the date of the examination (balance sheet date) ...............12/15/1999....... (d) By what departments or department?......................... Commonwealth of Pennsylvania Department of Insurance 23. (a) Has any change been made during the year of this statement in the charter, by-laws, articles of incorporation, or deed of settlement of the company? Yes [ ] No [ X ] (b) If yes, date of change: ........................................ If not previously filed, furnish herewith a certified copy of the instrument as amended. 24. (a) Has any direct new business been solicited or written in any state where the company was not licensed? Yes [ ] No [ X ] (b) If yes, explain 17 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY GENERAL INTERROGATORIES (continued) 25. Is the purchase or sale of all investments of the company passed upon either by the board of directors or a subordinate committee thereof? Yes [ X ] No [ ] 26. Does the company keep a complete permanent record of the proceedings of its Board of Directors and all subordinate committees thereof? Yes [ X ] No [ ] 27. Have the instructions for completing the blank required by this department been followed in every detail? Yes [ X ] No [ ] Yes [ X ] No [ ] (ONLY UNITED STATES BRANCHES OF FOREIGN COMPANIES NEED ANSWER INTERROGATORIES 28 AND 29) 28. What changes have been made during the year in the United States Manager or the United States Trustees of the company? 29. Does this statement contain all business transacted for the company through its United States branch, on risks wherever located? 30. (a) During the period covered by this statement, did any agent, general agent, broker, sales representative, non-affiliated sales/service organization or any combination thereof under common control (other than salaried employees of the company) receive credit or commissions for or control a substantial par (more than 20 percent of any major line of business measured on direct premiums) of: (i) sales of new business? Yes [ X ] (ii) renewals? Yes [ X ] (b) During the period covered by this statement, did any sales/service organization owned in whole or in part by the company or an affiliate, receive credit or commissions for or control a substantial part (more than 20 percent of any major line of business measured on direct premiums) of (i) sales of new business? Yes [ ] (ii) renewals? Yes [ ] No [ ] No [ ] No [ X ] No [ X ] 31. (a) If the company recorded accrued retrospective premiums on insurance contracts on Line 10.3 of the assets schedule, Page 2, state the amount of corresponding liabilities recorded for: (i) unpaid losses $...................................0 (ii) unpaid underwriting expenses (including loss adjustment expenses) $...................................0 (b) Of the amount on Line 10.3 of the assets schedule, Page 2, state the amount which is secured by letters of credit, collateral and other funds $...................................0 (c) If the company underwrites commercial insurance risks, such as workers' compensation, are premium or promissory notes accepted from its insureds covering unpaid premiums and/or unpaid losses? Yes [ ] No [ ] N/A [ X ] (d) If yes, provide the range of interest rates charged under such notes during the period covered by this statement (i) from ....................................% (ii) to ....................................% (e) Are letters of credit or collateral and other funds received from insureds being utilized by the company to secure premium or promissory notes taken by the company, or to secure any of the company's reported direct unpaid loss reserves, including unpaid losses under deductible features of commercial policies? Yes [ ] No [ X ] (f) If yes, state the amount thereof at December 31 of the current year: (i) letters of credit $...................................... (ii) collateral and other funds $...................................... 32. What interest, direct or indirect, has the company in the capital stock of any other insurance company? 33. (a) Does the company have any direct Medicare Supplement Insurance in force? (b) If yes, indicate premium earned on U.S. business only. (c) What portion of Item (b) is not reported on the Medicare Supplement Insurance Experience Exhibit? Reason for excluding (d) Indicate amount of earned premium attributable to Canadian and/or Other Alien not included in Item (b) above (e) Indicate total incurred claims on all Medicare Supplement insurance. 34. (a) Was the company's prior year's annual statement amended? (b) If yes, furnish the following information regarding the last amendment to the prior year's annual statement filed with the company's state of domicile (i) amendment number (ii) date of amendment Yes [ ] No [ X ] $...................................0 $...................................0 $...................................0 $...................................0 Yes [ ] ........................................ ........................................ 35. What is the name, address, and affiliation (officer/employee of the company or actuary/consultant associated with a(n) actuarial consulting firm) of the individual providing the statement of actuarial opinion? Ronald T. Kuehn, actuary - Ernst & Young, LLP Two Commerce Square, Suite 4000, 29th & Market St., Philadelphia, PA 19103 36. What is the name and address of the independent certified public accountant or accounting firm retained to conduct the annual audit? Ernst & Young, LLP Two Commerce Square, Suite 4000, 29th & Market St., Philadelphia, PA 19103 18 No [ X ] Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY GENERAL INTERROGATORIES (continued) 37. (a) Has the company been a party to a merger or consolidation during the period covered by this statement? Yes [ ] No [ X ] 38. (a) Has this company had any Certificates of Authority, licenses or registrations ( including corporate registration, if applicable) suspended or revoked by any governmen entity during the reporting period? (You need not report an action, either formal or informal, if a confidentiality clause is part of the agreement.) Yes [ ] (b) If yes, give full information No [ X ] (b) If yes, provide name of company, NAIC Company Code, and state of domicile (use two letter state abbreviation) for any company that has ceased to exis as a result of the merger or consolidation. Name of Company NAIC Company Code State of Domicile 39. (a) Does this statement include payments for assessments as described in the Annual Statement Instructions other than guaranty fund or guaranty association assessments? (b) If answer is yes, (i) amount paid as losses or risk adjustment: (ii) amount paid as expenses: (iii) other amounts paid: 40. (a) Amount of payments to Trade Associations, Service Organizations and Statistical or Rating Bureaus, if any? (b) List the name of the organization and the amount paid if any such payment represented 25% or more of the total payments to Trade Associations, Service Organizations and Statistical or Rating Bureaus during the period covered by this statement. Name of Organization Insurance Service Office (ISO) 19 $...................................0 $...................................0 $...................................0 Amount Paid $........................131,668 $..........................35,232 Amount Paid $...................................... 42. (a) Amount of payments for expenditures in connection with matters before legislative bodies, officers or departments of government, if any? (b) List the name of the firm and the amount paid if any such payment represented 25% or more of the total payment expenditures in connection with matters before legislative bodies, officers or departments of government during the period covered by this statement Name of Firm No [ X ] $........................163,153 41. (a) Amount of payments for legal expenses, if any? (b) List the name of the firm and the amount paid if any such payment represented 25% or more of the total payments for legal expenses during the period covered by this statement. Name of Firm Yes [ ] Amount Paid $...................................... $...................................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS 1. Basis of Presentation The accompanying financial statements of the Penn-Star Insurance Company ("PSIC or "The Company") have been prepared in conformity with accounting practices prescribed or permitted by the Insurance Department of the Commonwealth of Pennsylvania and the National Association of Insurance Commissioners Annual Statement Instructions and Accounting Practices and Procedures Manual. 2. Basis of Valuation of Invested Assets A. Investments in common and preferred stock are generally stated at values determined by the National Association of Insurance Commissioners, which approximate market value. Bonds not backed by loans are stated at amortized cost using the interest method. Loan backed bonds are stated at amortized cost using the interest method including anticipated prepayments at the date of purchase. Significant changes in estimated cash flow from the original purchase assumptions are accounted for using the retrospective method. B. None- The Company has no invested assets to be depreciated. C. None – The Company has no subsidiaries D. Prepayment assumptions for loan-backed bonds and other structured securities were obtained by updating the cash flows and incorporating the historic cash flows for each security as well as current market conditions. The assumptions are consistent with the current interest and economic conditions. The retrospective method is used to value the loan-backed bonds and structure securities. 3. Derivative Instruments A. None - The Company has no derivatives. B. None - The Company has no derivatives. 4. Federal income Tax Allocation A. The Company's federal income tax return is combined with Penn-America Insurance Company and Penn-America Group, Inc. The method of allocation between companies is subject to written agreement, approved by the Board Of Directors. The Company will file a consolidated return. The Company will pay to, or recover from, both Penn-America and Penn-America Group, Inc. Federal income taxes it would have incurred (or been entitled to recover) for the year ended 1999. The calculation is done as if each entity was filing its own Federal income tax return. Intercompany balances are settled quarterly. B. The amount of Federal income taxes incurred and available for recoupment in the event of future net losses is: current year $0; first preceding year $1,289,087; second preceding year $647,574. C. None- The Company has no net tax loss carryforward. 5. Information Concerning Parent, Subsidiaries, And Affiliates A. All outstanding shares of the Company are owned by Penn-America Insurance Company, an insurance company domiciled in the Commonwealth of Pennsylvania. B. None – The Company had no transactions with affiliates excluding reinsurance transactions and cost sharing agreements. The Company is wholly owned by Penn-America Insurance Company. C. None – The Company has no investments in its parent or affiliates. D. None – The Company does not own shares of an upstream intermediate of an ultimate parent. E. None – The Company has no contingent exposure due to guarantees of undertaking for the benefit of an affiliate. F. On July 1, 1998, the Company and Penn-America entered into a reinsurance pooling agreement. Accordingly, Penn-America cedes 35% of the pooled premium and pooled expenses of the companies to Penn-Star. 6. Retirement Plans, Deferred Compensation, and Other Post Retirement Benefit Plan A1. The Company, and its' parent and affiliates provide an Employee Incentive Saving and Retirement plan under which employees with three month's consecutive service are eligible to participate by contributing up to 15 percent of their basic, eligible compensation, subject to IRS guidelines, which include annual dollar limits' set by the IRS. The company contributes 50 percent of employee's contributions up to 6% of their basic compensation. The company's contributions totaled $27,529 and $36,917 for the years ended December 31, 2000 and 1999, respectively. The funds are available for investment in six mutual funds as directed by the participating employees. Penn-Star Insurance Company is a wholly-owned subsidiary of Penn-America Insurance Company. Costs recorded for the employee Incentive Saving and Retirement plan are allocated based on the cost sharing agreement with Penn-America Insurance Company. A2. The plan also provides for profit sharing contributions for all eligible employees at the discretion of the Board of Directors. There were no Profit Sharing contributions for the years ended December 31, 2000 or 1999. B. None - The Company has no deferred compensation plans. C. None - The Company has no post-retirement benefit plans 7. Capital and Surplus and Shareholder's and Policyholders' Dividend Restrictions. A. The maximum amount of dividends that can be paid by Pennsylvania insurance companies to shareholders without prior approval of the Insurance Commissioner of the Commonwealth of Pennsylvania is restricted to the greater of 10 percent of the statutory surplus as regards policyholders as shown on the last annual statement on file with the commissioner or 100 percent of the net income for the period covered by such statement. Dividends may not exceed unassigned surplus. Statutory surplus at December 31, 2000 was $29,980,158, with net loss of $608,452 for the twelve months then ended. In 2001, the Company needs prior approval to pay dividends. The Company paid no dividends in 2000. B. None - The Company has not issued preferred stock. 20 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY C. None - The Company has no restrictions on unassigned surplus. D. None - The Company has no stock held for special purposes. E. None - The Company has no surplus debentures. F. None - The Company has no surplus debentures. G. None - The Company does not pay policyholders' dividends. 8. Capital Notes - None 9. Borrowed Money - None 10. Contingent Liabilities A. None - The Company has no material contingent liabilities. B. None - The Company has committed no surplus funds. C. None - The Company has no legal proceedings beyond the ordinary course. D. None - The Company does not act as an intermediary in Over the Counter derivatives. 11. Leases The Company leases its office space under a lease expiring in 2005. Rental payments under this lease were $98,389 for both of the years ended December 31, 2000 and 1999. The Company also leases its computer equipment under various leases expiring in less than three years. Rental payments under these leases were $122,155 and $ 132,650 for the years ended December 31, 2000 and 1999, respectively. Costs recorded for leases are allocated based on the cost sharing agreement with its' parent, Penn-America Insurance Company. 12. Subscriber Savings Account - None 13. Unsecured Reinsurance Recoverable – None 14. Reinsurance Recoverables in Dispute - None 15. Reinsurance Assumed and Ceded Assumed Reinsurance Premium Reserve Affiliates All Other Total $ 13,511,446 $ 0 $ 13,511,446 Assumed Reinsurance Commission Equity $ 3,377,862 $ 0 $ 3,377,862 Ceded Reinsurance Premium Reserves $ 1,784,167 $ 274,604 $ 2,058,771 Ceded Reinsurance Premium Equity $ 446,042 $ 109,842 $ 555,884 Net Premium Reserves $ 11,727,279 ($ 274,604) $ 11,452,675 Net Commission Equity $ 2,931,820 ($ 109,842) $ 2,821,978 Direct Unearned Premiums - $2,058,771 B. None - The Company has no contingent reinsurance commissions on unearned premiums C. All contracts of reinsurance have been accounted for in conformity with the NAIC Practice and Procedures Manual 16. Structured Settlements A. None - The Company has not purchased annuities. B. None - The Company has not purchased annuities. 17. Uncollectible Reinsurance - None 18. Commutation of Ceded Reinsurance - None 19. Retroactive Reinsurance - None - The Company has no material retroactive reinsurance contracts that transfer liabilities for losses 20. Intercompany Pooling Arrangement - The Company entered into a pooling arrangement effective July 1, 1998 with its parent, Penn-America Insurance Company (NAIC No. 32859). Penn-America acts as the lead in the agreement and assumes 100 percent of written premiums (net of cessions to unaffiliated reinsurers) of Penn-Star. In turn, 65 percent of the business is retained by Penn-America and the Company assumes 35 percent. All lines of business are included in the pooling arrangement. All expenses and losses incurred are allocated using the same percentages as written premiums, described above. 21. Accrued Retrospective Premiums - None 22. Discounting of Liabilities for Unpaid Losses or Unpaid Loss Adjustment Expenses - None- The Company does not discount any reserves. 23. Financial Guaranty Insurance Exposures - None - The Company has no exposure of financial guarantees. 24. Information concerning Asset transfers with Put Options - None - the Company has no asset transfers with put options. 25. Direct Premiums Written By Managing General Agents/Third party Administrators- None - The Company has no premiums written by MGA's or TPA's as defined in the MGA Act. 26. Gain or Loss to the insurer from Uninsured A&H Plans and the Uninsured Portion of Partially Insured Plans - None - The Company has no gain of loss from Uninsured A&H Plans. 27. Asbestos/Environmental Reserves 20.1 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY A. None- The Company has no exposure to asbestos related claims. B. None- The Company has no exposure to asbestos related claims. C. None - The Company has no exposure to asbestos related claims. D. None- The Company has no exposure to environmental related claims. E. None- The Company has no exposure to environmental related claims. F. None - The Company has no exposure to environmental related claims. 28. Events Subsequent- None 29. Other items: The Company elected to use rounding in reporting amounts in the statement. 20.2 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY FIVE-YEAR HISTORICAL DATA Show amounts in whole dollars only, no cents; show percentages to one decimal place, i.e. 17.6. 1 2 3 4 5 2000 1999 1998 1997 1996 Gross Premiums Written (Page 9, Part 2B, Cols. 1& 2) 1. Liability lines (Lines 11.1, 11.2, 16, 17.1, 17.2, 18.1, 18.2, 19.1, 19.2 & 19.3, 19.4)................... ........13,711,505 ........13,036,639 ........23,127,525 ........22,377,352 ........................... 2. Property lines (Lines 1, 2, 9, 12, 21 & 26).................................................................................. ..........3,427,841 ..........3,139,871 ..........4,905,420 ..........4,013,423 ........................... 3. Property and liability combined lines (Lines 3, 4, 5, 8, 22 & 27)................................................. ........21,667,797 ........16,079,616 ........11,794,975 ........................... ........................... 4A. All other lines (Lines 6, 10, 13, 14, 15, 23, 24, 28, 29 & 31)....................................................... ........................... ........................... ........................... ........................... ........................... 4B. Non-proportional reinsurance lines (Lines 30A, 30B & 30C)...................................................... ........................... ........................... ........................... ........................... ........................... 5. Total (Line 32)........................................................................................................................... ........38,807,143 ........32,256,126 ........39,827,920 ........26,390,775 ........................0 Net Premiums Written (Page 9, Part 2B, Col. 4) 6. Liability lines (Lines 11.1, 11.2, 16, 17.1, 17.2, 18.1, 18.2, 19.1, 19.2 & 19.3, 19.4)................... ........12,356,979 ........12,495,141 ........19,148,030 ........22,377,352 ........................... 7. Property lines (Lines 1, 2, 9, 12, 21 & 26).................................................................................. ..........2,970,071 ..........2,972,691 ..........4,072,692 ..........4,013,423 ........................... 8. Property and liability combined lines (Lines 3, 4, 5, 8, 22 & 27)................................................. ........18,710,594 ........14,898,166 ........11,708,144 ........................... ........................... 9A. All other lines (Lines 6, 10, 13, 14, 15, 23, 24, 28, 29 & 31)....................................................... ........................... ........................... ........................... ........................... ........................... 9B. Non-proportional reinsurance lines (Lines 30A, 30B & 30C)...................................................... ........................... ........................... ........................... ........................... ........................... 10. Total (Line 32)........................................................................................................................... ........34,037,644 ........30,365,998 ........34,928,866 ........26,390,775 ........................0 Statement of Income (Page 4) 11. Net underwriting gain or (Loss) (Line 7)..................................................................................... .........(4,059,602) ............(185,098) .........(1,472,768) .........(2,518,940) ........................... 12. Net investment gain or (loss) (Line 9A)...................................................................................... ..........3,640,106 ..........3,056,222 ..........2,716,223 ..........1,405,706 ........................... 13. Total other income (Line 13)...................................................................................................... 14. Dividends to policyholders (Line 14A)........................................................................................ ........................... ........................... ........................... ........................... ........................... 15. Federal and foreign income taxes incurred (Line 15)................................................................. .............188,028 ..........1,289,087 .............647,574 .............342,090 ........................... 16. Net income (Line 16)................................................................................................................. ..................(928) ........................... ........................... ........................... ........................... ............(608,452) ..........1,582,037 .............595,881 .........(1,455,324) ........................0 Balance Sheet Lines (Pages 2 and 3) 17. Total admitted assets (Page 2, Line 22, Col. 4)......................................................................... 18. Agents' balances or uncollected premiums (Page 2, Col. 4): 18.1 In course of collection (Line 10.1)..................................................................................... ........70,189,397 ........63,100,929 ........54,970,786 ........44,973,706 ........................... ..........3,899,227 ..........4,553,313 ..........2,102,197 ..........1,972,799 ........................... 18.2 Deferred and not yet due (Line 10.2)................................................................................. ........................... ........................... ........................... ........................... ........................... 18.3 Accrued retrospective premiums (Line 10.3)..................................................................... ........................... ........................... ........................... ........................... ........................... 19. Total liabilities (Page 3, Line 23)................................................................................................ 20. Losses (Page 3, Lines 1 & 1A)................................................................................................... ........18,892,340 ........14,695,494 ........11,819,064 ..........9,281,419 ........................... ........41,209,239 ........33,040,232 ........25,836,953 ........16,448,080 ........................... 21. Loss adjustment expenses (Page 3, Line 2)............................................................................... ..........7,019,091 ..........4,576,329 ..........2,185,011 .............338,918 ........................... 22. Unearned premiums (Page 3, Line 9)........................................................................................ 23. Capital paid up (Page 3, Lines 25A & 25B)................................................................................ ..........4,200,000 ..........4,200,000 ..........3,000,000 ..........3,000,000 ........................... 24. Surplus as regards policyholders (Page 3, Line 27)................................................................... ........28,980,158 ........30,060,697 ........29,133,833 ........28,525,626 ........................... ........13,511,447 ........11,480,955 ........11,005,248 ..........6,473,697 ........................... Risk-Based Capital Analysis 25. Total adjusted capital................................................................................................................. 26. Authorized control level risk-based capital................................................................................. ..........3,659,259 ..........3,026,633 ..........3,732,514 ..........4,201,240 ........................... ........29,980,158 ........30,060,697 ........29,133,833 ........28,525,626 ........................... Percentage Distribution of Cash and Invested Assets (Page 2, Col. 4) (Item divided by Page 2, Line 9, Col. 4) x 100.0 27. Bonds (Line 1)........................................................................................................................... ...................92.7 ...................92.4 ...................89.1 ...................85.6 ........................... 28. Stocks (Lines 2.1 & 2.2)............................................................................................................. .....................2.9 .....................3.5 .....................2.4 .....................3.0 ........................... 29. Mortgage loans on real estate (Lines 3.1 & 3.2)......................................................................... ........................... ........................... ........................... ........................... ........................... 30. Real estate (Lines 4.1 & 4.2)..................................................................................................... 31. Cash and short-term investments (Line 5)................................................................................. .....................4.4 .....................4.1 .....................8.5 ...................11.4 ........................... 32. Other invested assets (Line 6)................................................................................................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... 32A. Receivable for securities (Line 7)............................................................................................... ........................... ........................... ........................... ........................... ........................... 33. Aggregate write-ins for invested assets (Line 8)......................................................................... ........................... ........................... ........................... ........................... ........................... 34. Cash and invested assets (Line 9)............................................................................................. .................100.0 .................100.0 .................100.0 .................100.0 .................100.0 Investments in Parent, Subsidiaries and Affiliates 35. Affiliated bonds (Sch. D, Summary, Line 25, Col. 5).................................................................. ........................... ........................... ........................... ........................... ........................... 36. Affiliated preferred stocks (Sch. D, Summary, Line 39, Col. 5)................................................... ........................... ........................... ........................... ........................... ........................... 37. Affiliated common stocks (Sch. D, Summary, Line 53, Col. 2)................................................... ........................... ........................... ........................... ........................... ........................... 38. Affiliated short-term investments (subtotals included in Schedule DA, Part 1, Col. 13).............. ........................... ........................... ........................... ........................... ........................... 38A. Affiliated mortgage loans on Real Estate................................................................................... ........................... ........................... ........................... ........................... ........................... 38B. All other affiliated....................................................................................................................... ........................... ........................... ........................... ........................... ........................... 39. Total of above lines 35, 36, 37, 38, 38A & 38B.......................................................................... ........................0 ........................0 ........................0 ........................0 ........................0 40. Percentage of investments in parent, subsidiaries and affiliates to surplus as regards policyholders (Line 39 above divided by Page 3, Col. 1, Line 27 x 100.0) .....................0.0 ........................... ........................... ........................... ........................... 21 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY FIVE-YEAR HISTORICAL DATA (Continued) 1 2 3 4 5 2000 1999 1998 1997 1996 Capital and Surplus Accounts (Page 4) 41. Net unrealized capital gains or (losses) (Line 19)....................................................................... ............(472,087) ............(255,173) ...............12,326 ..............(19,050) ........................... 42. Dividends to stockholders (cash) (Line 27)................................................................................ ........................... ............(400,000) ........................... ........................... ........................... 43. Change in surplus as regards policyholders for the year (Line 31)............................................. .........(1,080,539) .............926,864 .............608,207 ........28,525,626 ........................... 44. Gross Losses Paid (Page 10, Part 3, Cols. 1 & 2) Liability lines (Lines 11.1, 11.2, 16, 17.1, 17.2, 18.1, 18.2, 19.1, 19.2 & 19.3, 19.4)................... ..........5,692,406 ..........7,281,326 ..........9,222,651 ..........2,488,389 ........................... 45. Property lines (Lines 1, 2, 9, 12, 21 & 26).................................................................................. ..........1,722,084 ..........1,803,966 ..........2,870,017 ..........1,900,402 ........................... 46. Property and liability combined lines (Lines 3, 4, 5, 8, 22 & 27)................................................. ..........8,088,925 ..........4,723,929 .............798,643 ........................... ........................... 47A. All other lines (Lines 6, 10, 13, 14, 15, 23, 24, 28, 29 & 31)....................................................... ........................... ........................... ........................... ........................... ........................... 47B. Non-proportional reinsurance lines (Lines 30A, 30B & 30C)...................................................... ........................... ........................... ........................... ........................... ........................... 48. Total (Line 32)........................................................................................................................... ........15,503,415 ........13,809,221 ........12,891,311 ..........4,388,791 ........................0 Net Losses Paid (Page 10, Part 3, Col. 4) 49. Liability lines (Lines 11.1, 11.2, 16, 17.1, 17.2, 18.1, 18.2, 19.1, 19.2 & 19.3, 19.4)................... ..........5,410,153 ..........7,269,010 ..........9,219,856 ..........2,488,389 ........................... 50. Property lines (Lines 1, 2, 9, 12, 21 & 26).................................................................................. ..........1,570,007 ..........1,774,336 ..........2,870,017 ..........1,900,402 ........................... 51. Property and liability combined lines (Lines 3, 4, 5, 8, 22 & 27)................................................. ..........7,305,410 ..........4,679,983 .............798,643 ........................... ........................... 52A. All other lines (Lines 6, 10, 13, 14, 15, 23, 24, 28, 29 & 31)....................................................... ........................... ........................... ........................... ........................... ........................... 52B. Non-proportional reinsurance lines (Lines 30A, 30B & 30C)...................................................... ........................... ........................... ........................... ........................... ........................... 53. Total (Line 32)........................................................................................................................... ........14,285,570 ........13,723,329 ........12,888,516 ..........4,388,791 ........................0 Operating Percentages (Page 4) (Item divided by Page 4, Line 1) x 100.0 54. Premiums earned (Line 1)......................................................................................................... .................100.0 .................100.0 .................100.0 .................100.0 .................100.0 55. Losses incurred (Line 2)............................................................................................................ ...................60.3 ...................49.7 ...................53.4 ...................64.5 ........................... 56. Loss expenses incurred (Line 3)................................................................................................ ...................16.6 ...................15.1 ...................10.0 .....................2.9 ........................... 57. Other underwriting expenses incurred (Line 4)........................................................................... ...................35.8 ...................35.8 ...................41.4 ...................45.2 ........................... 58. Net underwriting gain or (loss) (Line 7)...................................................................................... .................(12.7) ...................(0.6) ...................(4.8) .................(12.6) ........................... Other Percentages 59. Other underwriting expenses to net premiums written (Page 4, Lines 4 + 5 - 13 divided by Page 9, Part 2B, Col. 4, Line 32 x 100.0).................................................................. ...................33.7 ...................35.3 ...................36.0 ...................34.1 ........................... 60. Losses and loss expenses incurred to premiums earned (Page 4, Lines 2 + 3 divided by Page 4, Line 1 x 100.0)............................................................ ...................76.9 ...................64.8 ...................63.4 ...................67.5 ........................... 61. Net premiums written to policyholders' surplus (Page 9, Part 2B, Col. 4, Line 32, divided by Page 3, Line 27, Col. 1 x 100.0)....................................................... .................117.5 .................101.0 .................119.9 ...................92.5 ........................... One Year Loss Development ($000 omitted) 62. Development in estimated losses and loss expenses incurred prior to current year (Schedule P, Part 2-Summary, Line 12, Col. 11)................................................ ....................989 ..................(847) ..................(566) ........................... ........................... 63. Percent of development of losses and loss expenses incurred to policyholders' surplus of prior year end (Line 62 above divided by Page 4, Line 17, Col. 1 x 100).................................... .....................3.3 ...................(2.9) ...................(2.0) ........................... ........................... Two Year Loss Development ($000 omitted) 64. Development in estimated losses and loss expenses Incurred 2 years before the current year and prior year (Schedule P, Part 2-Summary, Line 12, Col. 12)............................. ..................(724) ..................(306) ........................... ........................... ........................... 65. Percent of development of losses and loss expenses incurred to reported policyholders surplus of second prior year end (Line 64 divided by Page 4, Line 17, Col. 2 x 100.0)............... ...................(2.5) ...................(1.1) ........................... ........................... ........................... 22 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. A-Pt. 1 NONE Sch. A-Pt. 2 NONE Sch. A-Pt. 3 NONE Sch. A-Verification Between Years NONE Sch. B-Pt. 1 NONE Sch. B-Pt. 2 NONE Sch. B-Verification Between Years NONE Sch. BA-Pt. 1 NONE Sch. BA-Pt. 2 NONE Sch. BA-Verification Between Years NONE 23, 24, 25, 26, 27, 28, 29 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - SUMMARY BY COUNTRY Long-Term Bonds and Stocks OWNED December 31 of Current Year 1 Description BONDS Book Value 1. United States...................... ...............3,199,555 Governments 2 Market Value (a) ...............3,277,765 3 Actual Cost 4 Par Value of Bonds 5 Statement Value ...............3,197,663 ...............3,185,000 ...............3,199,555 2. Canada............................... ................................ ................................ ................................ ................................ ................................ (Including all obligations guaranteed 3. Other Countries.................. ................................ ................................ ................................ ................................ ................................ by governments) 4. Totals.................................. ...............3,199,555 ...............3,277,765 ...............3,197,663 ...............3,185,000 ...............3,199,555 5. United States...................... ................................ ................................ ................................ ................................ ................................ States, Territories and Possessions 6. Canada............................... ................................ ................................ ................................ ................................ ................................ (Direct and guaranteed) 7. Other Countries.................. ................................ ................................ ................................ ................................ ................................ 8. Totals.................................. .............................0 .............................0 .............................0 .............................0 .............................0 Political Subdivisions of States, 9. United States...................... ...............2,011,471 ...............2,072,090 ...............2,028,040 ...............2,000,000 ...............2,011,471 Territories and Possessions 10. Canada............................... ................................ ................................ ................................ ................................ ................................ (Direct and guaranteed) 11. Other Countries.................. ................................ ................................ ................................ ................................ ................................ 12. Totals.................................. ...............2,011,471 ...............2,072,090 ...............2,028,040 ...............2,000,000 ...............2,011,471 Special Revenue and Special Assessment 13. United States...................... .............10,873,351 .............10,875,335 .............10,890,106 .............11,235,169 .............10,873,351 Obligations and all Non-guaranteed Obligations 14. Canada............................... ................................ ................................ ................................ ................................ ................................ of Agencies and Authorities of Governments 15. Other Countries.................. ................................ ................................ ................................ ................................ ................................ and their Political Subdivisions 16. Totals.................................. .............10,873,351 .............10,875,335 .............10,890,106 .............11,235,169 .............10,873,351 17. United States...................... ...............5,389,238 ...............5,114,080 ...............5,374,747 ...............5,450,000 ...............5,050,979 Public Utilities 18. Canada............................... ................................ ................................ ................................ ................................ ................................ (unaffiliated) 19. Other Countries.................. ................................ ................................ ................................ ................................ ................................ 20. Totals.................................. ...............5,389,238 ...............5,114,080 ...............5,374,747 ...............5,450,000 ...............5,050,979 Industrial and Miscellaneous and 21. United States...................... .............36,500,417 .............36,440,341 .............36,466,962 .............37,106,166 .............36,500,417 Credit Tenant Loans 22. Canada............................... ................................ ................................ ................................ ................................ ................................ (Unaffiliated) Parent, Subsidiaries and Affiliates PREFERRED STOCKS Public Utilities 23. Other Countries.................. ...............2,804,804 ...............2,828,176 ...............2,803,230 ...............2,800,000 ...............2,804,804 24. Totals.................................. .............39,305,221 .............39,268,517 .............39,270,192 .............39,906,166 .............39,305,221 25. Totals.................................. ................................ ................................ ................................ ................................ ................................ 26. Total Bonds....................... .............60,778,836 .............60,607,787 .............60,760,748 27. United States...................... ..................267,600 ..................182,500 ..................267,600 ............XXX............. ..................182,500 .............61,776,335 .............60,440,577 28. Canada............................... ................................ ................................ ................................ ............XXX............. ................................ (Unaffiliated) Banks, Trust and Insurance Companies (Unaffiliated) Industrial and Miscellaneous (Unaffiliated) 29. Other Countries.................. ................................ ................................ ................................ ............XXX............. ................................ 30. Totals.................................. ..................267,600 ..................182,500 ..................267,600 ............XXX............. ..................182,500 31 United States...................... ...............1,030,000 ..................835,000 ...............1,030,000 ............XXX............. ..................835,000 32. Canada............................... ................................ ................................ ................................ ............XXX............. ................................ 33. Other Countries.................. ................................ ................................ ................................ ............XXX............. ................................ 34. Totals.................................. ...............1,030,000 ..................835,000 ...............1,030,000 ............XXX............. ..................835,000 35. United States...................... ..................970,625 ..................855,000 ..................970,625 ............XXX............. ..................855,000 36. Canada............................... ................................ ................................ ................................ ............XXX............. ................................ 37. Other Countries.................. ................................ ................................ ................................ ............XXX............. ................................ 38. Totals.................................. ..................970,625 Parent, Subsidiaries and Affiliates 40. Total Preferred Stocks..... ...............2,268,225 COMMON STOCKS Public Utilities (Unaffiliated) ..................855,000 ..................970,625 ............XXX............. ..................855,000 39. Totals.................................. ................................ ................................ ................................ ............XXX............. ................................ ...............1,872,500 ...............2,268,225 ............XXX............. ...............1,872,500 41. United States...................... ................................ ................................ ................................ 42. Canada............................... ................................ ................................ ................................ 43. Other Countries.................. ................................ ................................ ................................ 44. Totals.................................. .............................0 .............................0 .............................0 45. United States...................... ................................ ................................ ................................ Banks, Trust and Insurance Companies (Unaffiliated) 46. Canada............................... ................................ ................................ ................................ 47. Other Countries.................. ................................ ................................ ................................ 48. Totals.................................. .............................0 .............................0 .............................0 49. United States...................... ................................ ................................ ................................ Industrial and Miscellaneous (Unaffiliated) 50. Canada............................... ................................ ................................ ................................ 51. Other Countries.................. ................................ ................................ ................................ 52. Totals.................................. .............................0 Parent, Subsidiaries and Affiliates .............................0 .............................0 53. Totals.................................. ................................ ................................ ................................ 54. Total Common Stocks...... .............................0 .............................0 .............................0 55. Total Stocks...................... ...............2,268,225 ...............1,872,500 ...............2,268,225 56. Total Bonds and Stocks... .............63,047,061 .............62,480,287 .............63,028,973 (a) The aggregate value of bonds which are valued at other than actual market is $...............0. SCHEDULE D - VERIFICATION BETWEEN YEARS 1. Book value of bonds and stocks, prior year................................................ 2. Cost of bonds and stocks acquired, Col. 5, Part 3....................................... 3. Increase by adjustment in book value: 3.1 Col. 10, Part 1................................................... 98,372 3.2 Col. 9, Part 2, Section 1.................................... 3.3 Col. 8, Part 2, Section 2.................................... 3.4 Col. 9, Part 4..................................................... 34,932 4. Profit on disposal of bonds and stocks, Col. 11, Part 4............................... 5. Total............................................................................................................. 55,661,859 41,352,670 133,304 9,043 97,156,876 30 6. Deduct consideration for bonds and stocks disposed of Col. 5, Part 4....................................................... 7. Decrease by adjustment in book value: 7.1 Col. 11, Part 1............................. 35,678 7.2 Col. 10, Part 2, Section 1............ 7.3 Col. 9, Part 2, Section 2.............. 7.4 Col. 10, Part 4............................. 134,056 8. Loss on disposal of bonds and stocks, Col. 12, Part 4.......... 9. Book value of bonds and stocks, current year....................... 33,652,041 169,734 288,044 63,047,057 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1A - SECTION 1 Quality and Maturity Distribution of All Bonds Owned December 31, At Statement Values By Major Types of Issues and NAIC Designations 1. 1.1 1.2 1.3 1.4 1.5 1.6 1.7 2. 2.1 2.2 2.3 2.4 2.5 2.6 2.7 3. 31 3.1 3.2 3.3 3.4 3.5 3.6 3.7 4. 4.1 4.2 4.3 4.4 4.5 4.6 4.7 5. 5.1 5.2 5.3 5.4 5.5 5.6 5.7 1 Quality Rating per the NAIC Designation U.S. Governments, Schedules D & DA (Group 1) Class 1.................................................................................................. Class 2.................................................................................................. Class 3.................................................................................................. Class 4.................................................................................................. Class 5.................................................................................................. Class 6.................................................................................................. Totals.................................................................................................... All Other Governments, Schedules D & DA (Group 2) Class 1.................................................................................................. Class 2.................................................................................................. Class 3.................................................................................................. Class 4.................................................................................................. Class 5.................................................................................................. Class 6.................................................................................................. Totals.................................................................................................... States, Territories and Possessions, etc., Guaranteed, Schedules D & DA (Group 3) Class 1.................................................................................................. Class 2.................................................................................................. Class 3.................................................................................................. Class 4.................................................................................................. Class 5.................................................................................................. Class 6.................................................................................................. Totals.................................................................................................... Political Subdivisions of States, Territories and Possessions, Guaranteed, Schedules D & DA (Group 4) Class 1.................................................................................................. Class 2.................................................................................................. Class 3.................................................................................................. Class 4.................................................................................................. Class 5.................................................................................................. Class 6.................................................................................................. Totals.................................................................................................... Special Revenue & Special Assessment Obligations, etc., Non-Guaranteed, Schedules D & DA (Group 5) Class 1.................................................................................................. Class 2.................................................................................................. Class 3.................................................................................................. Class 4.................................................................................................. Class 5.................................................................................................. Class 6.................................................................................................. Totals.................................................................................................... 2 1 Year or Less 3 Over 1 Year Through 5 Years 4 Over 5 Years Through 10 Years 5 Over 10 Years Through 20 Years 6 Over 20 Years 7 Total Current Year 8 Column 7 as a % of Line 10.7 9 Total from Column 7 Prior Year 10 % from Col. 8 Prior Year 11 Total Publicly Traded 12 Total Privately Placed (a) ................1,972,498 ................................. ................................. ................................. ................................. ................................. ................1,972,498 ................3,199,554 ................................. ................................. ................................. ................................. ................................. ................3,199,554 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................5,172,052 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ................5,172,052 ...........................8.3 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................8.3 ................4,703,800 ................................. ................................. ................................. ................................. ................................. ................4,703,800 ...........................8.8 ................................. ................................. ................................. ................................. ................................. ...........................8.8 ................5,172,052 ................................. ................................. ................................. ................................. ................................. ................5,172,052 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................1,064,212 ................................. ................................. ................................. ................................. ................................. ................1,064,212 ...................947,259 ................................. ................................. ................................. ................................. ................................. ...................947,259 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ................2,011,471 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ................2,011,471 ...........................3.2 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................3.2 ................3,940,782 ................................. ................................. ................................. ................................. ................................. ................3,940,782 ...........................7.4 ................................. ................................. ................................. ................................. ................................. ...........................7.4 ................2,011,471 ................................. ................................. ................................. ................................. ................................. ................2,011,471 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...................893,235 ................................. ................................. ................................. ................................. ................................. ...................893,235 ................3,653,286 ................................. ................................. ................................. ................................. ................................. ................3,653,286 ................3,733,348 ................................. ................................. ................................. ................................. ................................. ................3,733,348 ................2,167,984 ................................. ................................. ................................. ................................. ................................. ................2,167,984 ...................425,497 ................................. ................................. ................................. ................................. ................................. ...................425,497 ..............10,873,351 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............10,873,351 .........................17.4 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 .........................17.4 ................9,509,019 ................................. ................................. ................................. ................................. ................................. ................9,509,019 .........................17.8 ................................. ................................. ................................. ................................. ................................. .........................17.8 ..............10,873,351 ................................. ................................. ................................. ................................. ................................. ..............10,873,351 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1A - SECTION 1 (continued) Quality and Maturity Distribution of All Bonds Owned December 31, At Statement Values By Major Types of Issues and NAIC Designations 1 Quality Rating per the NAIC Designation 6. 2 1 Year or Less 3 Over 1 Year Through 5 Years 4 Over 5 Years Through 10 Years 5 Over 10 Years Through 20 Years 6 Over 20 Years 7 Total Current Year 8 Column 7 as a % of Line 10.7 9 Total from Column 7 Prior Year 10 % from Col. 8 Prior Year 11 Total Publicly Traded 12 Total Privately Placed (a) Public Utilities (Unaffiliated), Schedules D & DA (Group 6) 6.1 Class 1.................................................................................................. ................................. ................1,990,271 ................1,445,628 ................................. ................................. ................3,435,899 ...........................5.5 ................9,057,669 .........................17.0 ................3,435,899 ................................. 6.2 Class 2.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 6.3 Class 3.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 6.4 Class 4.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 6.5 Class 5.................................................................................................. ................................. ................1,615,080 ................................. ................................. ................................. ................1,615,080 ...........................2.6 ................................. ................................. ................1,615,080 ................................. 6.6 Class 6.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 6.7 Totals.................................................................................................... ..............................0 7. ................3,605,351 ................1,445,628 ..............................0 ..............................0 ................5,050,979 ...........................8.1 ................9,057,669 .........................17.0 ................5,050,979 ..............................0 Industrial & Miscellaneous (Unaffiliated), Schedules D & DA (Group 7) 7.1 Class 1.................................................................................................. ................1,796,186 ..............25,842,065 ................9,701,998 ...................699,209 ................1,265,762 ..............39,305,221 .........................63.0 ..............25,160,928 .........................47.2 ..............35,093,246 ................4,211,975 7.2 Class 2.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 7.3 Class 3.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................1,021,441 ...........................1.8 ................................. ................................. 7.4 Class 4.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 7.5 Class 5.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 7.6 Class 6.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 7.7 Totals.................................................................................................... 32 8. ................1,796,186 ..............25,842,065 ................9,701,998 ...................699,209 ................1,265,762 ..............39,305,221 .........................63.0 ..............26,182,369 .........................49.0 ..............35,093,246 ................4,211,975 Credit Tenant Loans, Schedules D & DA (Group 8) 8.1 Class 1.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 8.2 Class 2.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 8.3 Class 3.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 8.4 Class 4.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 8.5 Class 5.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 8.6 Class 6.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 8.7 Totals.................................................................................................... ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............................0 ................................. ..............................0 ..............................0 9. Parent, Subsidiaries and Affiliates, Schedules D & DA (Group 9) 9.1 Class 1.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 9.2 Class 2.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 9.3 Class 3.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 9.4 Class 4.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 9.5 Class 5.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 9.6 Class 6.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. 9.7 Totals.................................................................................................... ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............................0 ................................. ..............................0 ..............................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1A - SECTION 1 (continued) Quality and Maturity Distribution of All Bonds Owned December 31, At Statement Values By Major Types of Issues and NAIC Designations 33 10. 10.1 10.2 10.3 10.4 10.5 10.6 10.7 10.8 11. 11.1 11.2 11.3 11.4 11.5 11.6 11.7 11.8 12. 12.1 12.2 12.3 12.4 12.5 12.6 12.7 12.8 12.9 13. 13.1 13.2 13.3 13.4 13.5 13.6 13.7 13.8 13.9 (a) (b) (c) 1 2 3 4 5 6 7 8 9 Quality Rating per the 1 Year Over 1 Year Over 5 Years Over 10 Years Over 20 Total Column 7 as a Total from Column NAIC Designation or Less Through 5 Years Through 10 Years Through 20 Years Years Current Year % of Line 10.7 7 Prior Year Total Bonds Current Year Class 1.................................................................................................. ................4,661,919 ..............34,685,176 ..............15,945,187 ................3,814,452 ................1,691,259 ..............60,797,994 .........................97.4 ..............XXX............ Class 2.................................................................................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............XXX............ Class 3.................................................................................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............XXX............ Class 4.................................................................................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............XXX............ Class 5.................................................................................................. ..............................0 ................1,615,080 ..............................0 ..............................0 ..............................0 (c)............1,615,080 ...........................2.6 ..............XXX............ Class 6.................................................................................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 (c)..........................0 ...........................0.0 ..............XXX............ Totals.................................................................................................... ................4,661,919 ..............36,300,256 ..............15,945,187 ................3,814,452 ................1,691,259 (b)..........62,413,074 .......................100.0 ..............XXX............ Line 10.7 as a % of Col. 7..................................................................... ...........................7.5 .........................58.2 .........................25.5 ...........................6.1 ...........................2.7 .......................100.0 ..............XXX............ ..............XXX............ Total Bonds Prior Year Class 1.................................................................................................. ..............11,649,356 ..............24,821,219 ..............14,711,843 ................................. ................1,189,780 ..............XXX............ ..............XXX............ ..............52,372,198 Class 2.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............XXX............ ..............XXX............ ..............................0 Class 3.................................................................................................. ................................. ................1,021,441 ................................. ................................. ................................. ..............XXX............ ..............XXX............ ................1,021,441 Class 4.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............XXX............ ..............XXX............ ..............................0 Class 5.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............XXX............ ..............XXX............ (c)..........................0 Class 6.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............XXX............ ..............XXX............ (c)..........................0 Totals.................................................................................................... ..............11,649,356 ..............25,842,660 ..............14,711,843 ..............................0 ................1,189,780 ..............XXX............ ..............XXX............ (b)..........53,393,639 Line 11.7 as a % of Col. 9..................................................................... .........................21.8 .........................48.4 .........................27.6 ...........................0.0 ...........................2.2 ..............XXX............ ..............XXX............ .......................100.0 Total Publicly Traded Bonds Class 1.................................................................................................. ................4,295,535 ..............31,879,019 ..............15,327,717 ................3,429,685 ................1,654,062 ..............56,586,019 .........................90.7 ..............51,062,757 Class 2.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Class 3.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................1,021,441 Class 4.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Class 5.................................................................................................. ................................. ................1,615,080 ................................. ................................. ................................. ................1,615,080 ...........................2.6 ..............................0 Class 6.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Totals.................................................................................................... ................4,295,535 ..............33,494,099 ..............15,327,717 ................3,429,685 ................1,654,062 ..............58,201,099 .........................93.3 ..............52,084,198 Line 12.7 as a % of Col. 7..................................................................... ...........................7.4 .........................57.5 .........................26.3 ...........................5.9 ...........................2.8 .......................100.0 ..............XXX............ ..............XXX............ Line 12.7 as a % of Line 10.7, Col. 7, Section 10.................................. ...........................6.9 .........................53.7 .........................24.6 ...........................5.5 ...........................2.7 .........................93.3 ..............XXX............ ..............XXX............ Total Privately Placed Bonds Class 1.................................................................................................. ...................366,384 ................2,806,157 ...................617,470 ...................384,767 .....................37,197 ................4,211,975 ...........................6.7 ................1,309,441 Class 2.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Class 3.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Class 4.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Class 5.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Class 6.................................................................................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 Totals.................................................................................................... ...................366,384 ................2,806,157 ...................617,470 ...................384,767 .....................37,197 ................4,211,975 ...........................6.7 ................1,309,441 Line 13.7 as a % of Col. 7..................................................................... ...........................8.7 .........................66.6 .........................14.7 ...........................9.1 ...........................0.9 .......................100.0 ..............XXX............ ..............XXX............ Line 13.7 as a % of Line 10.7, Col. 7, Section 10.................................. ...........................0.6 ...........................4.5 ...........................1.0 ...........................0.6 ...........................0.1 ...........................6.7 ..............XXX............ ..............XXX............ Includes $.....4,211,975 freely tradable under SEC Rule 144 or qualified for resale under SEC Rule 144A. Includes $.....1,609,366 current year, $.....1,445,238 prior year of bonds with Z designations and $..........0 current year, $..........0 prior year of bonds with Z* designation. The letter "Z" means the NAIC designation was not assigned by the Securities Valuation Office (SVO) at the date of the statement. "Z*" means the SVO could not evaluate the obligation because valuation procedures for the security class are under regulatory review Includes $..........0 current year, $..........0 prior year of bonds with 5* designations and $..........0 current year, $..........0 prior year of bonds with 6* designation. "5*" means the NAIC designation was assigned by the SVO in reliance on the insurer's certification that the issuer is current in all principal and interest payments. "6*" means the NAIC designation was assigned by the SVO due to inadequate certification of principal and interest payments 10 % from Col. 8 Prior Year 11 Total Publicly Traded 12 Total Privately Placed (a) ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............56,586,019 ..............................0 ..............................0 ..............................0 ................1,615,080 ..............................0 ..............58,201,099 .........................93.3 ................4,211,975 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ................4,211,975 ...........................6.7 .........................98.1 ...........................0.0 ...........................1.9 ...........................0.0 ...........................0.0 ...........................0.0 .......................100.0 ..............XXX............ ..............51,062,757 ................................. ................1,021,441 ................................. ................................. ................................. ..............52,084,198 .........................97.5 ................1,309,441 ................................. ................................. ................................. ................................. ................................. ................1,309,441 ...........................2.5 .........................95.6 ...........................0.0 ...........................1.9 ...........................0.0 ...........................0.0 ...........................0.0 .........................97.5 ..............XXX............ ..............XXX............ ..............56,586,019 ..............................0 ..............................0 ..............................0 ................1,615,080 ..............................0 ..............58,201,099 .......................100.0 .........................93.3 ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ...........................2.5 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................0.0 ...........................2.5 ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ................4,211,975 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ................4,211,975 .......................100.0 ...........................6.7 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1A - SECTION 2 Maturity Distribution of All Bonds Owned December 31, At Statement Values By Major Type and Subtype of Issues 1 1. 2. 1.1 1.2 1.7 2.1 2.2 2.3 2.4 3. 2.5 2.6 2.7 3.1 3.2 3.3 3.4 34 4. 3.5 3.6 3.7 4.1 4.2 4.3 4.4 5. 4.5 4.6 4.7 5.1 5.2 5.3 5.4 5.5 5.6 5.7 Distribution by Type U.S. Governments, Schedules D & DA (Group 1) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... Totals.................................................................................................... All Other Governments, Schedules D & DA (Group 2) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... Totals.................................................................................................... States, Territories and Possessions, Guaranteed, Schedules D & DA (Group 3) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... Totals.................................................................................................... Political Subdivisions of States, Territories and Possessions, Guaranteed, Schedules D & DA (Group 4) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... Totals.................................................................................................... Special Revenue & Special Assessment Obligations, etc., Non-Guaranteed, Schedules D & DA (Group 5) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... Totals.................................................................................................... 2 1 Year or Less 3 Over 1 Year Through 5 Years 4 Over 5 Years Through 10 Years 5 Over 10 Years Through 20 Years 6 Over 20 Years 7 Total Current Year 8 Column 7 as a % of Line 10.7 9 Total from Column 7 Prior Year 10 % from Col. 8 Prior Year 11 Total Publicly Traded 12 Total Privately Placed ................1,972,498 ................3,199,554 ................................. ................................. ................................. ................5,172,052 ...........................8.3 ................4,703,800 ...........................8.8 ................5,172,052 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................1,972,498 ................3,199,554 ..............................0 ..............................0 ..............................0 ................5,172,052 ...........................8.3 ................4,703,800 ...........................8.8 ................5,172,052 ..............................0 ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............................0 ................................. ..............................0 ..............................0 ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............................0 ................................. ..............................0 ..............................0 ................................. ................................. ................1,064,212 ...................947,259 ................................. ................2,011,471 ...........................3.2 ................3,940,782 ...........................7.4 ................2,011,471 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ..............................0 ..............................0 ................1,064,212 ...................947,259 ..............................0 ................2,011,471 ...........................3.2 ................3,940,782 ...........................7.4 ................2,011,471 ..............................0 ................................. ................................. ................1,088,016 ................................. ................................. ................1,088,016 ...........................1.7 ...................399,731 ................1,675,280 ................1,467,339 ................1,449,467 ...................419,866 ................5,411,683 ...........................8.7 ................4,910,050 ...........................9.2 ................3,423,568 ...........................6.4 ................1,088,016 ................................. ................5,411,683 ................................. ...................493,504 ................1,978,006 ................1,177,994 ...................718,517 .......................5,631 ................4,373,652 ...........................7.0 ................1,175,399 ...........................2.2 ................4,373,652 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ...................893,235 ................3,653,286 ................3,733,349 ................2,167,984 ...................425,497 ..............10,873,351 .........................17.4 ................9,509,017 .........................17.8 ..............10,873,351 ..............................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1A - SECTION 2 (continued) Maturity Distribution of All Bonds Owned December 31, At Statement Values By Major Type and Subtype of Issues 1 6. 6.1 6.2 6.3 6.4 6.5 6.6 6.7 7. 7.1 7.2 7.3 7.4 35 7.5 7.6 7.7 8. 8.1 8.7 9. 9.1 9.2 9.3 9.4 9.5 9.6 9.7 Distribution by Type Public Utilities (Unaffiliated), Schedules D & DA (Group 6) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... Totals.................................................................................................... Industrial & Miscellaneous (Unaffiliated), Schedules D & DA (Group 7) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... Totals.................................................................................................... Credit Tenant Loans, Schedules D & DA (Group 8) Issuer Obligations................................................................................. Totals.................................................................................................... Parents, Subsidiaries and Affiliates, Schedules D & DA (Group 9) Issuer Obligations................................................................................. Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: Defined................................................................................................. Other..................................................................................................... Totals.................................................................................................... 2 1 Year or Less 3 Over 1 Year Through 5 Years 4 Over 5 Years Through 10 Years 5 Over 10 Years Through 20 Years 6 Over 20 Years 7 Total Current Year 8 Column 7 as a % of Line 10.7 9 Total from Column 7 Prior Year 10 % from Col. 8 Prior Year 11 Total Publicly Traded 12 Total Privately Placed ................................. ................3,605,351 ................1,445,628 ................................. ................................. ................5,050,979 ...........................8.1 ................9,057,669 .........................17.0 ................5,050,979 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ..............................0 ................3,605,351 ................1,445,628 ..............................0 ..............................0 ................5,050,979 ...........................8.1 ................9,057,669 .........................17.0 ................5,050,979 ..............................0 ...................286,609 ..............15,259,096 ................6,329,902 ................................. ................1,190,753 ..............23,066,360 .........................37.0 ..............21,943,529 .........................41.0 ..............23,066,360 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................1,171,093 ................2,528,783 ................1,336,116 ...................699,209 .....................75,009 ................5,810,210 ...........................9.3 ................2,432,950 ...........................4.6 ................3,736,428 ................2,073,781 ................................. ................3,000,000 ................2,035,981 ................................. ................................. ................5,035,981 ...........................8.1 ................................. ................................. ................5,035,981 ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ...................338,484 ................5,054,186 ................................. ................................. ................................. ................5,392,670 ...........................8.6 ................1,805,890 ...........................3.4 ................3,254,477 ................2,138,194 ................1,796,186 ..............25,842,065 ................9,701,999 ...................699,209 ................1,265,762 ..............39,305,221 .........................63.0 ..............26,182,369 .........................49.0 ..............35,093,246 ................4,211,975 ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............................0 ................................. ..............................0 ..............................0 ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ................................. ................................. ................................. ................................. ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...........................0.0 ..............................0 ................................. ..............................0 ..............................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1A - SECTION 2 (continued) Maturity Distribution of All Bonds Owned December 31, At Statement Values By Major Type and Subtype of Issues 1 36 Distribution by Type 10. Total Bonds Current Year 10.1 Issuer Obligations................................................................................. 10.2 Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: 10.3 Defined................................................................................................. 10.4 Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: 10.5 Defined................................................................................................. 10.6 Other..................................................................................................... 10.7 Totals.................................................................................................... 10.8 Line 10.7 as a % of Col. 7..................................................................... 11. Total Bonds Prior Year 11.1 Issuer Obligations................................................................................. 11.2 Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: 11.3 Defined................................................................................................. 11.4 Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: 11.5 Defined................................................................................................. 11.6 Other..................................................................................................... 11.7 Totals.................................................................................................... 11.8 Line 11.7 as a % of Col. 9..................................................................... 12. Total Publicly Traded Bonds 12.1 Issuer Obligations................................................................................. 12.2 Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: 12.3 Defined................................................................................................. 12.4 Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: 12.5 Defined................................................................................................. 12.6 Other..................................................................................................... 12.7 Totals.................................................................................................... 12.8 Line 12.7 as a % of Col. 7..................................................................... 12.9 Line 12.7 as a % of Line 10.7, Col. 7, Section 10.................................. 13. Total Privately Placed Bonds 13.1 Issuer Obligations................................................................................. 13.2 Single Class Mortgage-Backed/Asset-Backed Bonds........................... MULTI-CLASS RESIDENTIAL MORTGAGE-BACKED SECURITIES: 13.3 Defined................................................................................................. 13.4 Other..................................................................................................... MULTI-CLASS COMMERCIAL MORTGAGE-BACKED/ ASSET-BACKED SECURITIES: 13.5 Defined................................................................................................. 13.6 Other..................................................................................................... 13.7 Totals.................................................................................................... 13.8 Line 13.7 as a % of Col. 7..................................................................... 13.9 Line 13.7 as a % of Line 10.7, Col. 7, Section 10.................................. 2 1 Year or Less 3 Over 1 Year Through 5 Years 4 Over 5 Years Through 10 Years 5 Over 10 Years Through 20 Years 6 Over 20 Years 7 Total Current Year 8 Column 7 as a % of Line 10.7 9 Total from Column 7 Prior Year 10 % from Col. 8 Prior Year 11 Total Publicly Traded 12 Total Privately Placed ................2,259,107 ..............22,064,001 ................9,927,758 ...................947,259 ................1,190,753 ..............36,388,878 .........................58.3 ..............XXX............ ..............XXX............ ..............36,388,878 ..............................0 ...................399,731 ................1,675,280 ................1,467,339 ................1,449,467 ...................419,866 ................5,411,683 ...........................8.7 ..............XXX............ ..............XXX............ ................5,411,683 ..............................0 ................1,664,597 ................4,506,789 ................2,514,110 ................1,417,726 .....................80,640 ..............10,183,862 .........................16.3 ..............XXX............ ..............XXX............ ................8,110,080 ................2,073,781 ..............................0 ................3,000,000 ................2,035,981 ..............................0 ..............................0 ................5,035,981 ...........................8.1 ..............XXX............ ..............XXX............ ................5,035,981 ..............................0 ..............................0 ...................338,484 ................4,661,919 ...........................7.5 ..............................0 ................5,054,186 ..............36,300,256 .........................58.2 ..............................0 ..............................0 ..............15,945,188 .........................25.5 ..............................0 ..............................0 ................3,814,452 ...........................6.1 ..............................0 ..............................0 ................1,691,259 ...........................2.7 ..............................0 ................5,392,670 ..............62,413,074 .......................100.0 ...........................0.0 ...........................8.6 .......................100.0 ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............................0 ................3,254,477 ..............58,201,099 .........................93.3 ..............................0 ................2,138,194 ................4,211,975 ...........................6.7 ................9,032,550 ..............16,663,973 ..............16,216,768 ................1,452,759 ................1,189,780 ..............XXX............ ..............XXX............ ..............44,555,830 .........................83.4 ..............44,555,831 ................................. ................................. ...................983,505 ................2,440,063 ................................. ................................. ..............XXX............ ..............XXX............ ................3,423,568 ...........................6.4 ................3,423,569 ................................. ...................580,827 ................1,869,044 ................1,158,478 ................................. ................................. ..............XXX............ ..............XXX............ ................3,608,349 ...........................6.8 ................3,608,349 ................................. ................................. ................................. ................................. ................................. ................................. ..............XXX............ ..............XXX............ ..............................0 ...........................0.0 ................................. ................................. ................................. ...................535,945 ..............10,149,322 .........................19.0 ................................. ................1,269,945 ..............20,786,467 .........................38.9 ................................. ................................. ..............19,815,309 .........................37.1 ................................. ................................. ................1,452,759 ...........................2.7 ................................. ................................. ................1,189,780 ...........................2.2 ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............................0 ................1,805,890 ..............53,393,637 .......................100.0 ...........................0.0 ...........................3.4 .......................100.0 ..............XXX............ ................................. ...................496,449 ..............52,084,198 .........................97.5 ................................. ................1,309,441 ................1,309,441 ...........................2.5 ................2,259,107 ..............22,064,001 ................9,927,758 ...................947,259 ................1,190,753 ..............36,388,878 .........................58.3 ..............44,555,831 .........................83.4 ..............36,388,878 ..............XXX............ ...................399,731 ................1,675,280 ................1,467,339 ................1,449,467 ...................419,866 ................5,411,683 ...........................8.7 ................3,423,569 ...........................6.4 ................5,411,683 ..............XXX............ ................1,489,108 ................3,647,931 ................1,896,640 ................1,032,959 .....................43,443 ................8,110,081 .........................13.0 ................3,608,349 ...........................6.8 ................................. ................3,000,000 ................2,035,981 ................................. ................................. ................5,035,981 ...........................8.1 ..............................0 ...........................0.0 ................8,110,081 ..............XXX............ ................5,035,981 ..............XXX............ ................................. ...................147,589 ................4,295,535 ...........................7.4 ...........................6.9 ..............................0 ................3,254,476 ..............58,201,099 .......................100.0 .........................93.3 ................................. ................3,106,887 ..............33,494,099 .........................57.5 .........................53.7 ................................. ................................. ..............15,327,718 .........................26.3 .........................24.6 ................................. ................................. ................3,429,685 ...........................5.9 ...........................5.5 ................................. ................................. ................1,654,062 ...........................2.8 ...........................2.7 ..............................0 ................3,254,476 ..............58,201,099 .......................100.0 .........................93.3 ...........................0.0 ...........................5.2 .........................93.3 ..............XXX............ ..............XXX............ ..............................0 ...................496,449 ..............52,084,198 ..............XXX............ ..............XXX............ ...........................0.0 ...........................0.9 .........................97.5 ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 ...........................0.0 ..............XXX............ ..............................0 ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 ...........................0.0 ..............XXX............ ..............................0 ...................175,489 ...................858,858 ...................617,470 ...................384,767 .....................37,197 ................2,073,781 ...........................3.3 ..............................0 ...........................0.0 ..............XXX............ ................2,073,781 ................................. ................................. ................................. ................................. ................................. ..............................0 ...........................0.0 ..............................0 ...........................0.0 ..............XXX............ ..............................0 ................................. ...................190,895 ...................366,384 ...........................8.7 ...........................0.6 ................................. ................1,947,299 ................2,806,157 .........................66.6 ...........................4.5 ................................. ................................. ...................617,470 .........................14.7 ...........................1.0 ................................. ................................. ...................384,767 ...........................9.1 ...........................0.6 ................................. ................................. .....................37,197 ...........................0.9 ...........................0.1 ..............................0 ................2,138,194 ................4,211,975 .......................100.0 ...........................6.7 ...........................0.0 ...........................3.4 ...........................6.7 ..............XXX............ ..............XXX............ ..............................0 ................1,309,441 ................1,309,441 ..............XXX............ ..............XXX............ ...........................0.0 ...........................2.5 ...........................2.5 ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............XXX............ ..............................0 ................2,138,194 ................4,211,975 .......................100.0 ...........................6.7 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1 Showing all Long-Term BONDS Owned December 31 of Current Year 1 2 Interest a b 3 Date Of Maturity Option a b c 4 5 6 Rate Used to Obtain Market Value 7 8 9.1 Interest Amount Due and Accrued December 31 of Current Year on Bonds not in Default 9.2 Gross Amount Received During Year 10 11 Increase by Adjustment in Book Value During Year Decrease by Adjustment in Book Value During Year 37 CUSIP IdentifiRate How Call Market cation Description of Paid Year Month Year Price Book Value Par Value Value Actual Cost U.S. Government - Issuer Obligations 3134A3-2S-4. FEDERAL HOME LOAN MORTGAGE CORPORATION. .......6.875 JJ..... 2005....01. ....... ........... ..........2,018,502 ..........2,000,000 ...104.000 ..........2,080,000 ..........2,019,141 ..........63,403 ...................... ...................... 3134A3-RE-8. FEDERAL HOME LOAN MORTGAGE CORPORATION. .......5.500 MN... 2002....05. ....... ........... .............490,409 .............500,000 .....99.813 .............499,065 .............484,585 ............3,514 ..........27,500 ............5,824 912827-J7-8... UNITED STATES TREASURY NOTES........................... .......6.250 FA.... 2003....02. ....... ........... .............690,644 .............685,000 ...102.000 .............698,700 .............693,937 ..........16,171 ..........42,852 ...................... 0199999. U.S. Government - Issuer Obligations...................................................................................................... ..........3,199,555 ..........3,185,000 ....XXX.... ..........3,277,765 ..........3,197,663 ..........83,088 ..........70,352 ............5,824 0399999. Total - U.S. Government.......................................................................................................................... ..........3,199,555 ..........3,185,000 ....XXX.... ..........3,277,765 ..........3,197,663 ..........83,088 ..........70,352 ............5,824 Political Subdivisions of States, Territories & Possessions (Direct and Guaranteed) - Issuer Obligations Hawaii 438669-RV-7. HONOLULU HI CITY & CNTY......................................... .......5.600 AO... 2008....04. ....... ........... ..........1,064,212 ..........1,000,000 ...107.121 ..........1,071,210 ..........1,081,600 ..........14,000 ..........56,000 ...................... Hawaii...................................................................................................................................................... ..........1,064,212 ..........1,000,000 ....XXX.... ..........1,071,210 ..........1,081,600 ..........14,000 ..........56,000 ...................0 Minnesota 60374A-PZ-6. MINNEAPOLIS MN REF SPORTS ARENA..................... .......5.125 AO... 2020....10. ....... ........... .............947,259 ..........1,000,000 ...100.088 ..........1,000,880 .............946,440 ..........12,813 ..........25,625 ...............819 Minnesota................................................................................................................................................ .............947,259 ..........1,000,000 ....XXX.... ..........1,000,880 .............946,440 ..........12,813 ..........25,625 ...............819 United States........................................................................................................................................... ..........2,011,471 ..........2,000,000 ....XXX.... ..........2,072,090 ..........2,028,040 ..........26,813 ..........81,625 ...............819 1899999. Political Subdivisions of States, Territories & Possessions - Issuer Obligations....................................... ..........2,011,471 ..........2,000,000 ....XXX.... ..........2,072,090 ..........2,028,040 ..........26,813 ..........81,625 ...............819 2499999. Total - Political Subdivisions of States, Territories & Possessions (Direct and Guaranteed)..................... ..........2,011,471 ..........2,000,000 ....XXX.... ..........2,072,090 ..........2,028,040 ..........26,813 ..........81,625 ...............819 Special Revenue & Special Assessment Obligations and all Non-Guaranteed Obligations of Agencies and Authorities of Governments and Their Political Subdivisions - Issuer Obligations Indiana 454898-HR-1. INDIANA MUN PWR AGY PWR SUPPLY SYS REV...... .......5.875 JJ..... 2009....01. ....... ........... .............652,809 .............600,000 ...109.000 .............654,000 .............666,852 ..........17,625 ..........35,250 ...................... 454898-HR-1. INDIANA MUN PWR AGY PWR SUPPLY SYS RE R.... .......5.875 JJ..... 2009....01. ....... ........... .............435,207 .............400,000 ...109.000 .............436,000 .............444,568 ..........11,750 ..........23,500 ...................... Indiana..................................................................................................................................................... ..........1,088,016 ..........1,000,000 ....XXX.... ..........1,090,000 ..........1,111,420 ..........29,375 ..........58,750 ...................0 United States........................................................................................................................................... ..........1,088,016 ..........1,000,000 ....XXX.... ..........1,090,000 ..........1,111,420 ..........29,375 ..........58,750 ...................0 2599999. Special Revenue & Assessment Obligations - Issuer Obligations............................................................. ..........1,088,016 ..........1,000,000 ....XXX.... ..........1,090,000 ..........1,111,420 ..........29,375 ..........58,750 ...................0 Special Revenue & Special Assessment Obligations and all Non-Guaranteed Obligations of Agencies and Authorities of Governments and Their Political Subdivisions - Single Class Mortgage-Backed/Asset-Backed Securities United States 31293M-LR-1. FEDERAL HOME LN MTG CORP #C23936................... .......6.000 MTLY 2029....04. 2028 100.000 ..........2,635,711 ..........2,870,891 ......AV..... ..........2,635,711 ..........2,631,351 ..........14,354 ..........71,772 ............5,858 31293S-PH-6. FEDERAL HOME LN MTG CORP #C28524................... .......7.000 MTLY 2029....08. 2029 100.000 ..........2,775,971 ..........2,871,139 ......AV..... ..........2,775,971 ..........2,774,238 ..........16,748 ..........83,742 ............5,021 U.S........................................................................................................................................................... ..........5,411,682 ..........5,742,030 ....XXX.... ..........5,411,682 ..........5,405,589 ..........31,102 ........155,514 ..........10,879 United States........................................................................................................................................... ..........5,411,682 ..........5,742,030 ....XXX.... ..........5,411,682 ..........5,405,589 ..........31,102 ........155,514 ..........10,879 2699999. Special Revenue & Assessment Obligations - Single Class Mtg.-Backed/Asset-Backed Securities......... ..........5,411,682 ..........5,742,030 ....XXX.... ..........5,411,682 ..........5,405,589 ..........31,102 ........155,514 ..........10,879 Special Revenue & Special Assessment Obligations and all Non-Guaranteed Obligations of Agencies and Authorities of Governments and Their Political Subdivisions - Defined Multi-Class Residential Mortgage-Backed Securities United States 31359Q-NZ-3. FEDERAL NATIONAL MTG ASSOC 97 61 VX............. .......7.000 MTLY 2023....02. 2003 100.000 .............727,155 .............728,065 ......AV..... .............727,155 .............727,186 ............4,247 ..........50,965 ...............447 31359X-RB-7. FEDERAL NATIONAL MTG ASSOC 99 64 GT.............. .......7.500 MTLY 2029....12. 2019 100.000 .............980,265 .............990,166 ......AV..... .............980,265 .............980,265 ............6,189 ..........24,754 ............1,383 79548K-UT-3. SALOMON BROS MTG SECS VII 97 HUD1 B1.............. .......7.750 MTLY 2030....12. 2022 100.000 ..........2,666,233 ..........2,774,908 ......AV..... ..........2,666,233 ..........2,665,646 ..........17,921 ...................... ...............587 U.S........................................................................................................................................................... ..........4,373,653 ..........4,493,139 ....XXX.... ..........4,373,653 ..........4,373,097 ..........28,357 ..........75,719 ............2,417 United States........................................................................................................................................... ..........4,373,653 ..........4,493,139 ....XXX.... ..........4,373,653 ..........4,373,097 ..........28,357 ..........75,719 ............2,417 2799999. Special Revenue & Assessment Obligations - Defined Multi-Class Residential Mtg.-Backed Securities.. ..........4,373,653 ..........4,493,139 ....XXX.... ..........4,373,653 ..........4,373,097 ..........28,357 ..........75,719 ............2,417 3199999. Total - Special Revenue & Special Assessment Obligations.................................................................... ........10,873,351 ........11,235,169 ....XXX.... ........10,875,335 ........10,890,106 ..........88,834 ........289,983 ..........13,296 Public Utilities (Unaffiliated) - Issuer Obligations United States 100599-BJ-7.. BOSTON EDISON COMPANY........................................ .......6.800 MS... 2003....03. ....... ........... ..........1,990,271 ..........2,000,000 ...101.000 ..........2,020,000 ..........1,985,720 ..........40,044 ........136,000 ............4,161 209111-DD-2. CONSOLIDATED EDISON INC....................................... .......7.150 JD.... 2009....12. ....... ........... ..........1,445,628 ..........1,450,000 ...102.000 ..........1,479,000 ..........1,445,215 ............8,640 ........101,659 ...............391 281020-AB-3. EDISON INTERNATIONAL INC...................................... .......6.875 MS... 2004....09. ....... ........... .............985,568 ..........1,000,000 .....83.154 .............831,540 .............984,372 ..........20,243 ..........34,375 ............1,196 842400-DH-3. SOUTHERN CALIFORNIA EDISON............................... .......5.875 MS... 2004....09. ....... ........... .............967,771 ..........1,000,000 .....78.354 .............783,540 .............959,440 ..........19,583 ..........58,750 ............7,580 United States........................................................................................................................................... ..........5,389,238 ..........5,450,000 ....XXX.... ..........5,114,080 ..........5,374,747 ..........88,510 ........330,784 ..........13,328 3299999. Public Utilities (Unaffiliated) - Issuer Obligations...................................................................................... ..........5,389,238 ..........5,450,000 ....XXX.... ..........5,114,080 ..........5,374,747 ..........88,510 ........330,784 ..........13,328 3899999. Total - Public Utilities (Unaffiliated).......................................................................................................... ..........5,389,238 ..........5,450,000 ....XXX.... ..........5,114,080 ..........5,374,747 ..........88,510 ........330,784 ..........13,328 Industrial & Miscellaneous (Unaffiliated) - Issuer Obligations United States 065913-AE-5. BANKBOSTON CORPORATION.................................... .......6.500 JD.... 2007....12. ....... ........... .............496,693 .............500,000 .....97.847 .............489,235 .............495,660 ............1,083 ..........32,500 ...............363 125577-AF-3.. CIT GROUP INC............................................................. .......7.375 MS... 2003....03. ....... ........... .............991,406 ..........1,000,000 ...101.000 ..........1,010,000 .............989,460 ..........21,715 ..........36,875 ............1,946 233835-AB-3. DAIMLERCHRYSLER NA HOLDINGS............................ .......6.900 MS... 2004....09. ....... ........... ..........1,970,158 ..........2,000,000 .....99.000 ..........1,980,000 ..........1,966,980 ..........46,000 ..........69,000 ............3,178 ...............639 ...................... ............2,430 ............3,069 ............3,069 12 13 14 15 Amount of Interest Due and Accrued December 31, Current Year, Effecon Bonds in tive Default as to NAIC Year Rate Principal or Desig- Acof Interest nation quired Interest Statement Value December 31 of Current Year ...................... ...................... ...................... ...................0 ...................0 ..........2,018,502 .............490,409 .............690,644 ..........3,199,555 ..........3,199,555 ......1 ..1PE ......1 .XXX .XXX 2000 2000 1999 .XXX .XXX .......6.609 .......6.992 .......5.831 ....XXX.... ....XXX.... 16 ............7,327 ...................... ..1PE 1998 .......4.550 ..........1,064,212 ............7,327 ...................0 .XXX .XXX ....XXX.... ..........1,064,212 ...................... ...................0 ............7,327 ............7,327 ............7,327 ...................... ...................0 ...................0 ...................0 ...................0 ..1PE .XXX .XXX .XXX .XXX 2000 .XXX .XXX .XXX .XXX .......5.612 ....XXX.... ....XXX.... ....XXX.... ....XXX.... .............947,259 .............947,259 ..........2,011,471 ..........2,011,471 ..........2,011,471 ............5,362 ............3,576 ............8,938 ............8,938 ............8,938 ...................... ...................... ...................0 ...................0 ...................0 ......1 ......1 .XXX .XXX .XXX 1998 1998 .XXX .XXX .XXX .......4.550 .......4.550 ....XXX.... ....XXX.... ....XXX.... .............652,809 .............435,207 ..........1,088,016 ..........1,088,016 ..........1,088,016 ...................... ...................... ...................0 ...................0 ...................0 ...................... ...................... ...................0 ...................0 ...................0 ......1 ......1 .XXX .XXX .XXX 2000 2000 .XXX .XXX .XXX .......7.420 .......7.552 ....XXX.... ....XXX.... ....XXX.... ..........2,635,711 ..........2,775,971 ..........5,411,682 ..........5,411,682 ..........5,411,682 ...................... ...................... ...................... ...................0 ...................0 ...................0 ............8,938 ...................... ...................... ...................... ...................0 ...................0 ...................0 ...................0 ..1PE ..1PE ..1PE .XXX .XXX .XXX .XXX 1999 2000 2000 .XXX .XXX .XXX .XXX .......6.808 .......7.669 .......8.455 ....XXX.... ....XXX.... ....XXX.... ....XXX.... .............727,155 .............980,265 ..........2,666,233 ..........4,373,653 ..........4,373,653 ..........4,373,653 ........10,873,351 ...................... ...................... ...................... ...................... ...................0 ...................0 ...................0 ...................... ...................... ...................... ...................... ...................0 ...................0 ...................0 ......1 ......1 ......5 ......5 .XXX .XXX .XXX 1999 1999 2000 1999 .XXX .XXX .XXX .......7.042 .......7.196 .......7.327 .......6.885 ....XXX.... ....XXX.... ....XXX.... ..........1,990,271 ..........1,445,628 .............831,540 .............783,540 ..........5,050,979 ..........5,050,979 ..........5,050,979 ...................... ...................... ..1PE 1997 .......6.620 .............496,693 ...................... ...................... ......1 2000 .......7.807 .............991,406 ...................... ...................... ......1 2000 .......7.372 ..........1,970,158 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1 Showing all Long-Term BONDS Owned December 31 of Current Year 1 2 Interest a b 37.1 CUSIP Identification 319963-AA-2. 345397-SQ-7. 345397-SS-3. 423328-BJ-1.. 456866-AK-8. 459200-AR-2. 478366-AH-0. 524660-AR-8. 573284-AE-6. 590188-HX-9. 597433-AC-5. 65119Q-BE-2. 75820Q-AB-8. 855084-AA-7. 855084-AA-7. 867914-AH-6. 872287-AE-7. 90858P-AA-6. 3 Date Of Maturity Option a b c Rate How Call Description of Paid Year Month Year Price FIRST DATA CORPORATION........................................ .......6.625 AO... 2003....04. ....... ........... FORD MOTOR CREDIT COMPANY............................... .......7.500 MS... 2005....03. ....... ........... FORD MOTOR CREDIT COMPANY............................... .......7.500 JD.... 2003....06. ....... ........... HELLER FINANCIAL INC................................................ .......6.000 MS... 2004....03. ....... ........... INGERSOLL-RAND COMPANY...................................... .......6.391 MN... 2027....11. 2004 100.000 INTL BUSINESS MACHINES CORPORATION.............. .......6.220 FA.... 2027....08. 2004 100.000 JOHNSON CONTROLS INC........................................... .......6.300 FA.... 2008....02. ....... ........... LEGGETT & PLATT INC................................................. .......7.650 FA.... 2005....02. ....... ........... MARTIN MARIETTA MATERIALS INC........................... .......5.875 JD.... 2008....12. ....... ........... MERRILL LYNCH & COMPANY INC............................... .......6.560 JD.... 2007....12. ....... ........... MIDLAND BANK PLC...................................................... .......7.650 MN... 2025....05. 2007 100.000 NEWELL RUBBERMAID INC.......................................... .......6.350 JJ..... 2008....07. ....... ........... REED ELSEVIER CAPITAL............................................ .......7.000 MN... 2005....05. ....... ........... STAR BANK NA.............................................................. .......6.375 MS... 2004....03. ....... ........... STAR BANK NA R................................. .......6.375 MS... 2004....03. ....... ........... SUNTRUST BANKS INC................................................. .......6.000 FA.... 2026....02. ....... ........... TCI COMMUNICATIONS INC......................................... .......6.875 FA.... 2006....02. ....... ........... UNION TANK CAR COMPANY....................................... .......6.630 MS... 2004....10. ....... ........... United States........................................................................................................................................... 4 Book Value .............983,351 ..........1,000,315 ..........1,000,885 .............964,570 ..........1,500,000 .............509,451 ..........1,053,211 .............608,619 ..........1,386,936 .............501,380 .............734,597 .............935,030 .............996,854 .............627,440 .............337,853 ..........1,430,634 .............982,174 ..........1,250,000 ........20,261,557 Foreign 25156P-AA-1. DEUTSCHE TELEKOM FINANCE.................................. .......7.750 JD.... 2005....06. ....... ........... ..........2,016,628 706448-AN-7. PEMEX FINANCE LTD.................................................... .......6.125 FMAN 2003....11. ....... ........... .............788,176 Foreign..................................................................................................................................................... ..........2,804,804 3999999. Industrial & Miscellaneous (Unaffiliated) - Issuer Obligations................................................................... ........23,066,361 Industrial & Miscellaneous (Unaffiliated) - Defined Multi-Class Residential Mortgage-Backed/Asset-Backed Securities United States 161626-Z8-2.. CHASE MTG FINANCE CORP 94 L B2....................... .......7.897 MTLY 2025....11. 2024 100.000 ..........2,073,781 337366-AA-6. FIRST UNION CHASE COMM MTG 99 C2 A1................ .......6.363 MTLY 2008....06. ....... ........... .............874,770 760947-PP-0. RESIDENTIAL FDG MTG SECS I 95 S17 M1................. .......7.500 MTLY 2025....12. 2025 100.000 ..........1,366,346 79548K-XW-3 SALOMON BROS MTG SECS VII 97 LB6 A4................ .......6.910 MTLY 2027....12. 2002 100.000 ..........1,495,313 United States........................................................................................................................................... ..........5,810,210 4199999. Industrial & Miscellaneous - Defined Multi-Class Residential Mtg.-Backed/Asset Backed Securities........ ..........5,810,210 Industrial & Miscellaneous (Unaffiliated) - Other Multi-Class Residential Mortgage-Backed/Asset-Backed Securities United States 393505-M8-2. GREEN TREE HOME IMPRV LN TR 98 D HEM1........... .......6.710 MTLY 2029....08. 2009 100.000 ..........2,035,981 84604C-AC-1. SOVEREIGN BANK HE LN TR 2000 1 A3...................... .......7.110 MTLY 2005....01. 2004 100.000 ..........3,000,000 United States........................................................................................................................................... ..........5,035,981 4299999. Industrial & Miscellaneous - Other Multi-Class Residential Mtg.-Backed/Asset Backed Securities........... ..........5,035,981 Industrial & Miscellaneous (Unaffiliated) - Other Multi-Class Commercial Mortgage-Backed/Asset-Backed Securities United States 025928-AF-9.. AMERICAN EXPRESS CREDIT MASTER TR 94 3 A..... .......7.850 MS... 2005....08. 2004 100.000 ..........1,013,347 20033T-AD-7. COMED TRANSITIONAL FDG TR 98 1 A4..................... .......5.390 MJSD 2005....06. 2003 100.000 .............964,828 20033T-AE-5. COMED TRANSITIONAL FDG TR 98 1 A5..................... .......5.440 MJSD 2007....03. 2005 100.000 .............939,203 463586-AA-5. IROQUOIS TR 97 1 A...................................................... .......7.000 MTLY 2006....12. 2001 100.000 .............190,895 619118-AA-0. MORTGAGE INDEX AMORT TR 97 1 A1....................... .......6.682 MTLY 2004....08. ....... ........... .............292,090 871928-AR-8. TIERS TR CHAMT 97 7 A............................................... .......6.688 MTLY 2003....11. ....... ........... ...............45,008 878154-AN-3. TEAM FLEET FINANCING CORP 98 4 A....................... .......6.280 MTLY 2006....10. 2005 100.000 .............947,628 878154-AW-3. TEAM FLEET FIN CORP 99 3A B................................... .......6.900 MTLY 2003....07. 2002 100.000 .............999,670 United States........................................................................................................................................... ..........5,392,669 4499999. Industrial & Miscellaneous - Other Multi-Class Commercial Mtg.-Backed/Asset Backed Securities.......... ..........5,392,669 4599999. Total - Industrial & Miscellaneous (Unaffiliated)........................................................................................ ........39,305,221 Totals 5 6 7 Par Value ..........1,000,000 ..........1,000,000 ..........1,000,000 ..........1,000,000 ..........1,500,000 .............500,000 ..........1,000,000 .............600,000 ..........1,500,000 .............500,000 .............700,000 ..........1,000,000 ..........1,000,000 .............650,000 .............350,000 ..........1,500,000 ..........1,000,000 ..........1,250,000 ........20,550,000 Rate Used to Obtain Market Value .....97.250 ...102.000 ...102.000 .....97.000 .....99.602 .....91.000 .....96.210 ...103.000 .....91.703 .....98.517 ...101.801 ......AV..... ......AV..... .....99.665 .....99.665 .....97.057 .....99.549 ......AV..... ....XXX.... Market Value .............972,500 ..........1,020,000 ..........1,020,000 .............970,000 ..........1,494,030 .............455,000 .............962,100 .............618,000 ..........1,375,545 .............492,585 .............712,607 .............935,030 .............996,854 .............647,823 .............348,828 ..........1,455,855 .............995,490 ..........1,250,000 ........20,201,481 ..........2,000,000 .............800,000 ..........2,800,000 ........23,350,000 ...102.000 ......AV..... ....XXX.... ....XXX.... ..........2,087,390 .............894,631 ..........1,396,552 ..........1,500,000 ..........5,878,573 ..........5,878,573 8 9.1 Interest 9.2 10 11 Decrease by Adjustment in Book Value During Year ...................... .................15 .................35 ...................... ...................... ............2,320 ............6,026 ...............591 ...................... ...............153 ............4,265 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ..........13,405 12 Amount of Interest Due and Accrued December 31, Current Year, on Bonds in Default as to Principal or Interest ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................0 13 14 15 16 NAIC Year Desig- Acnation quired ..1PE 2000 ......1 2000 ......1 2000 ......1 2000 ..1PE 1997 ..1PE 1998 ..1PE 1998 ......1 2000 ..1PE 1999 ..1PE 1997 ....1Z 1997 ..1PE 2000 ..1PE 1999 ..1PE 2000 ..1PE 2000 ..1PE .Var. ..1PE 2000 ..1PE 1997 .XXX .XXX Effective Rate of Interest .......7.443 .......7.491 .......7.459 .......7.250 .......6.390 .......5.630 .......5.386 .......7.240 .......7.137 .......6.510 .......6.679 .......7.493 .......7.085 .......7.630 .......7.630 .......6.475 .......7.295 .......6.630 ....XXX.... Statement Value December 31 of Current Year .............983,351 ..........1,000,315 ..........1,000,885 .............964,570 ..........1,500,000 .............509,451 ..........1,053,211 .............608,619 ..........1,386,936 .............501,380 .............734,597 .............935,030 .............996,854 .............627,440 .............337,853 ..........1,430,634 .............982,174 ..........1,250,000 ........20,261,557 Actual Cost .............979,820 ..........1,000,330 ..........1,000,920 .............964,110 ..........1,500,000 .............515,955 ..........1,066,341 .............609,210 ..........1,371,300 .............501,810 .............747,796 .............934,700 .............995,900 .............624,526 .............336,284 ..........1,424,418 .............982,010 ..........1,250,000 ........20,257,530 Amount Due and Accrued December 31 of Current Year on Bonds not in Default ..........16,563 ..........22,083 ............3,333 ..........17,000 ..........12,249 ..........12,958 ..........26,250 ..........17,340 ............7,344 ............1,367 ............8,925 ..........29,281 ............8,944 ..........13,812 ............7,438 ..........34,000 ..........25,972 ..........27,625 ........361,282 Gross Amount Received During Year ..........33,125 ..........37,292 ..........37,708 ...................... ..........95,865 ..........31,100 ..........63,000 ...................... ..........88,125 ..........32,800 ..........53,550 ...................... ..........70,000 ..........20,718 ..........11,157 ..........90,000 ...................... ..........82,875 ........885,690 Increase by Adjustment in Book Value During Year ............3,531 ...................... ...................... ...............460 ...................... ...................... ...................... ...................... ..........10,318 ...................... ...................... ...............330 ...............595 ............2,913 ............1,570 ............2,569 ...............164 ...................... ..........27,937 ..........2,040,000 .............788,176 ..........2,828,176 ........23,029,657 ..........2,016,710 .............786,520 ..........2,803,230 ........23,060,760 ............6,889 ............6,261 ..........13,150 ........374,432 ..........34,229 ..........24,500 ..........58,729 ........944,419 .................76 ............3,324 ............3,400 ..........31,337 ...............157 ...................... ...............157 ..........13,562 ...................... ...................... ...................0 ...................0 ......1 ......1 .XXX .XXX 2000 2000 .XXX .XXX .......7.525 .......7.285 ....XXX.... ....XXX.... ..........2,016,628 .............788,176 ..........2,804,804 ........23,066,361 ......AV..... ......AV..... ......AV..... ......AV..... ....XXX.... ....XXX.... ..........2,073,781 .............874,770 ..........1,366,346 ..........1,495,313 ..........5,810,210 ..........5,810,210 ..........2,073,691 .............871,846 ..........1,365,566 ..........1,495,313 ..........5,806,416 ..........5,806,416 ..........13,737 ............4,744 ............8,728 ............8,638 ..........35,847 ..........35,847 ..........54,942 ..........56,925 ..........34,897 ........103,650 ........250,414 ........250,414 ...............324 ............3,735 ............1,159 ...................... ............5,218 ............5,218 ...................... ...................... ...................... ...................... ...................0 ...................0 ...................... ...................... ...................... ...................... ...................0 ...................0 ..1PE ....1Z ..1PE ..1PE .XXX .XXX 2000 1999 2000 1999 .XXX .XXX .......7.925 .......6.906 .......7.850 .......6.842 ....XXX.... ....XXX.... ..........2,073,781 .............874,770 ..........1,366,346 ..........1,495,313 ..........5,810,210 ..........5,810,210 ..........2,150,000 ..........3,000,000 ..........5,150,000 ..........5,150,000 ......AV..... ......AV..... ....XXX.... ....XXX.... ..........2,035,981 ..........3,000,000 ..........5,035,981 ..........5,035,981 ..........2,035,109 ..........3,000,000 ..........5,035,109 ..........5,035,109 ............6,412 ..........17,775 ..........24,187 ..........24,187 ..........12,022 ...................... ..........12,022 ..........12,022 ...............872 ...................... ...............872 ...............872 ...................... ...................... ...................0 ...................0 ...................... ...................... ...................0 ...................0 ..1PE ..1PE .XXX .XXX 2000 2000 .XXX .XXX .......7.699 .......7.109 ....XXX.... ....XXX.... ..........2,035,981 ..........3,000,000 ..........5,035,981 ..........5,035,981 ..........1,000,000 ..........1,000,000 ..........1,000,000 .............190,493 .............292,092 ...............45,008 ..........1,000,000 ..........1,000,000 ..........5,527,593 ..........5,527,593 ........39,906,166 ......AV..... ......AV..... ......AV..... ......AV..... ......AV..... ......AV..... ......AV..... ......AV..... ....XXX.... ....XXX.... ....XXX.... ..........1,013,347 .............964,828 .............939,203 .............190,895 .............292,090 ...............45,008 .............947,628 .............999,670 ..........5,392,669 ..........5,392,669 ........39,268,517 ..........1,015,977 .............952,578 .............927,813 .............192,106 .............292,089 ...............44,727 .............943,242 .............999,375 ..........5,367,907 ..........5,367,907 ........39,270,192 ..........23,114 ...............898 ...............907 ...............593 ...............325 ...............134 ............1,047 ............1,150 ..........28,168 ..........28,168 ........462,634 ..........39,250 ..........40,425 ..........40,800 ..........13,335 ..........19,518 ............3,010 ..........31,400 ..........69,000 ........256,738 ........256,738 .....1,463,593 ...................... ..........12,250 ..........11,391 ...................... ..............(495) ................(52) ............4,386 ...............198 ..........27,678 ..........27,678 ..........65,105 ............2,629 ...................... ...................... ...............153 ...................... ...................... ...................... ...................... ............2,782 ............2,782 ..........16,344 ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................... ...................0 ...................0 ...................0 ..1PE ......1 ......1 ..1PE ..1PE ..1PE ..1PE ..1PE .XXX .XXX .XXX 2000 2000 2000 1997 1997 1997 2000 1999 .XXX .XXX .XXX .......7.405 .......7.312 .......7.440 .......6.624 .......6.682 .......7.083 .......7.676 .......6.922 ....XXX.... ....XXX.... ....XXX.... ..........1,013,347 .............964,828 .............939,203 .............190,895 .............292,090 ...............45,008 .............947,628 .............999,670 ..........5,392,669 ..........5,392,669 ........39,305,221 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 1 Showing all Long-Term BONDS Owned December 31 of Current Year 1 2 Interest a b CUSIP Identification 5499999. 5599999. 5699999. 5799999. 5999999. 6099999. 3 Date Of Maturity Option a b c Rate How Call Description of Paid Year Month Year Price Total - Issuer Obligations......................................................................................................................... Total - Single Class Mortgage-Backed/Asset-Backed Securities.............................................................. Total - Defined Multi-Class Residential Mortgage-Backed/Asset-Backed Securities................................. Total - Other Multi-Class Residential Mortgage-Backed/Asset-Backed Securities.................................... Total - Other Multi-Class Commercial Mortgage-Backed/Asset-Backed Securities................................... Grand Total - Bonds................................................................................................................................. 4 Book Value ........34,754,641 ..........5,411,682 ........10,183,863 ..........5,035,981 ..........5,392,669 ........60,778,836 5 6 Par Value ........34,985,000 ..........5,742,030 ........10,371,712 ..........5,150,000 ..........5,527,593 ........61,776,335 Rate Used to Obtain Market Value ....XXX.... ....XXX.... ....XXX.... ....XXX.... ....XXX.... ....XXX.... 7 Market Value ........34,583,592 ..........5,411,682 ........10,183,863 ..........5,035,981 ..........5,392,669 ........60,607,787 8 Actual Cost ........34,772,630 ..........5,405,589 ........10,179,513 ..........5,035,109 ..........5,367,907 ........60,760,748 9.1 Interest Amount Due and Accrued December 31 of Current Year on Bonds not in Default ........602,218 ..........31,102 ..........64,204 ..........24,187 ..........28,168 ........749,879 9.2 Gross Amount Received During Year .....1,485,930 ........155,514 ........326,133 ..........12,022 ........256,738 .....2,236,337 10 11 Increase by Adjustment in Book Value During Year ..........51,308 ..........10,879 ............7,635 ...............872 ..........27,678 ..........98,372 Decrease by Adjustment in Book Value During Year ..........32,896 ...................0 ...................0 ...................0 ............2,782 ..........35,678 12 Amount of Interest Due and Accrued December 31, Current Year, on Bonds in Default as to Principal or Interest ...................0 ...................0 ...................0 ...................0 ...................0 ...................0 13 14 NAIC Year Desig- Acnation quired .XXX .XXX .XXX .XXX .XXX .XXX .XXX .XXX .XXX .XXX .XXX .XXX 15 16 Effective Rate of Interest ....XXX.... ....XXX.... ....XXX.... ....XXX.... ....XXX.... ....XXX.... Statement Value December 31 of Current Year ........34,416,382 ..........5,411,682 ........10,183,863 ..........5,035,981 ..........5,392,669 ........60,440,577 37.2 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 2 - SECTION 1 Showing all PREFERRED STOCKS Owned December 31 of Current Year 1 CUSIP Identification Description 2 3 Number of Shares Par Value per Share Preferred Stocks - Public Utilities United States 694308-69-3... PACIFIC GAS & ELECTRIC COMPANY 6.570%......... ........10,000.000 .................25.00 United States............................................................................................................................. 6199999. Total - Preferred Stocks - Public Utilities................................................................................... Preferred Stocks - Banks, Trust and Insurance Companies United States 40428H-20-1.. HSBC USA INC. $2.8575.............................................. ........20,000.000 .................50.00 United States............................................................................................................................. 6299999. Total - Preferred Stocks - Banks, Trust and Ins. Cos................................................................ Preferred Stocks - Industrial and Miscellaneous United States 073902-87-6... BEAR STEARNS CO SER F......................................... ..........4,000.000 .................50.00 172967-70-5... CITIGROUP INC 6.231% SER H.................................. ..........5,000.000 .................50.00 257661-30-6... DONALDSON LUFKIN & JENRETTE 5.30% SER B.... ..........2,000.000 .................50.00 313400-80-6... FEDERAL HOME LOAN MORTGAGE CORPORATION ..........5,000.000 .................50.00 524908-70-4... LEHMAN BROTHERS HOLDINGS 5.94% SER C........ ..........3,000.000 .................50.00 United States............................................................................................................................. 6399999. Total - Preferred Stocks - Industrial and Miscellaneous............................................................ 6599999. Total - Preferred Stocks............................................................................................................ 4 5 Book Value Rate per Share 6 Statement Value 6A Rate per Share Used to Obtain Market Value 6B Market Value 7 Actual Cost 8.1 Dividends Declared but Unpaid 8.2 Amount Received During Year 9 10 11 12 Increase by Adjustment in Book Value During Year Decrease by Adjustment in Book Value During Year NAIC Designation Year Acquired .................267,600 ........COST....... .................182,500 .............18.250 .................182,500 .................267,600 ............................... ...................16,425 ............................... ............................... P5........... ...1998.... .................267,600 .......XXX........... .................182,500 .......XXX........... .................182,500 .................267,600 ............................0 ...................16,425 ............................0 ............................0 ....XXX.... ....XXX.... .................267,600 .......XXX........... .................182,500 .......XXX........... .................182,500 .................267,600 ............................0 ...................16,425 ............................0 ............................0 ....XXX.... ....XXX.... ..............1,030,000 .............41.750 .................835,000 .............41.750 .................835,000 ..............1,030,000 ...................14,287 ...................57,150 ............................... ............................... P1L......... ...1999.... ..............1,030,000 .......XXX........... .................835,000 .......XXX........... .................835,000 ..............1,030,000 ...................14,287 ...................57,150 ............................0 ............................0 ....XXX.... ....XXX.... ..............1,030,000 .......XXX........... .................835,000 .......XXX........... .................835,000 ..............1,030,000 ...................14,287 ...................57,150 ............................0 ............................0 ....XXX.... ....XXX.... .................200,000 .................258,750 .................100,500 .................264,375 .................147,000 .................970,625 .................970,625 ..............2,268,225 .............39.375 .............45.500 .............50.125 .............48.750 .............42.000 .......XXX........... .......XXX........... .......XXX........... .................157,500 .................227,500 .................100,250 .................243,750 .................126,000 .................855,000 .................855,000 ..............1,872,500 .............39.375 .............45.500 .............50.125 .............48.750 .............42.000 .......XXX........... .......XXX........... .......XXX........... .................157,500 .................227,500 .................100,250 .................243,750 .................126,000 .................855,000 .................855,000 ..............1,872,500 .................200,000 .................258,750 .................100,500 .................264,375 .................147,000 .................970,625 .................970,625 ..............2,268,225 .....................2,860 ............................... ............................... ............................... ............................... .....................2,860 .....................2,860 ...................17,147 ...................11,440 ...................15,577 .....................5,300 ...................15,350 .....................8,910 ...................56,577 ...................56,577 .................130,152 ............................... ............................... ............................... ............................... ............................... ............................0 ............................0 ............................0 ............................... ............................... ............................... ............................... ............................... ............................0 ............................0 ............................0 P1L......... P1L......... P2L......... P1L......... P1L......... ....XXX.... ....XXX.... ....XXX.... ...1998.... ...1998.... ...1998.... ...1998.... ...1998.... ....XXX.... ....XXX.... ....XXX.... 38 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 2 - SECTION 2 Showing all COMMON STOCKS Owned December 31 of Current Year 1 2 3 4 5 6 Dividends 8 9 10 11 Rate per 7.1 7.2 Share Used Increase by Decrease by NAIC CUSIP Number to Obtain Amount Adjustment in Adjustment in DesigIdentifiof Market Market Actual Declared but Received Book Value Book Value nation Year cation Description Shares Book Value Value Value Cost Unpaid During Year During Year During Year (a) Acquired Total - Preferred Stock from Section 1..................................................................... .................2,268,225 ...............XXX............ .................1,872,500 .................2,268,225 ......................17,147 ....................130,152 .................................. .................................. ...............XXX............ ..........XXX....... 7199999. Total - Preferred and Common Stock....................................................................... .................2,268,225 ...............XXX............ .................1,872,500 .................2,268,225 ......................17,147 ....................130,152 ...............................0 ...............................0 ...............XXX............ ..........XXX....... (a) For all common stocks bearing the NAIC designation ''U''provide: the number of such issues...............0, the total $ value (included in Column 5) of all such issues $...............0. 39 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 3 Showing all Long-Term Bonds and Stocks ACQUIRED During Current Year 1 2 40 CUSIP Date Identification Description Acquired Bonds - U.S. Government 3134A3-2S-4............... FEDERAL HOME LOAN MORTG 01/15/2005 6.875..................... ......10/11/2000.... 3134A3-RE-8.............. FEDERAL HOME LOAN MORTG 05/15/2002 5.500..................... ......02/10/2000.... 0399999. Total - Bonds - U.S. Government................................................................................. Bonds - Political Subdivisions of States Minnesota 60374A-PZ-6............... MINNEAPOLIS MN REF SPOR 10/01/2020 5.125....................... ......08/03/2000.... Minnesota................................................................................................................... United States............................................................................................................... 2499999. Total - Bonds - Political Subdivision............................................................................. Bonds - Special Revenue and Special Assessment United States 31293M-LR-1.............. FEDERAL HOME LN MTG COR 09/01/2028 6.000...................... ......07/20/2000.... 31293S-PH-6.............. FEDERAL HOME LN MTG COR 05/01/2029 7.000...................... ......07/20/2000.... 31359X-RB-7.............. FEDERAL NATIONAL MTG AS 02/01/2019 7.500........................ ......08/28/2000.... 79548K-UT-3............... SALOMON BROS MTG SECS V 06/01/2022 7.750...................... ......12/01/2000.... U.S............................................................................................................................. United States............................................................................................................... 3199999. Total - Bonds - Special Revenue & Special Assessments............................................ Bonds - Public Utilities United States 281020-AB-3............... EDISON INTERNATIONAL IN 09/15/2004 6.875.......................... ......08/24/2000.... United States............................................................................................................... 3899999. Total - Bonds - Public Utilities...................................................................................... Bonds - Industrial and Miscellaneous United States 025928-AF-9............... AMERICAN EXPRESS CREDIT 09/15/2004 7.850....................... ......03/29/2000.... 125577-AF-3............... CIT GROUP INC 03/15/2003 7.375.................................... ......06/29/2000.... 161626-Z8-2................ CHASE MTG FINANCE CORP 05/01/2024 7.897....................... ......07/31/2000.... 20033T-AD-7............... COMED TRANSITIONAL FDG 06/25/2003 5.390........................ ......03/29/2000.... 20033T-AE-5............... COMED TRANSITIONAL FDG 03/25/2005 5.440........................ ......03/29/2000.... 233835-AB-3............... DAIMLERCHRYSLER NA HOLD 09/01/2004 6.900...................... ......07/25/2000.... 319963-AA-2............... FIRST DATA CORPORATION 04/01/2003 6.625........................ ......06/28/2000.... 345397-SQ-7............... FORD MOTOR CREDIT COMPA 03/15/2005 7.500..................... ......09/11/2000.... 345397-SS-3............... FORD MOTOR CREDIT COMPA 06/15/2003 7.500..................... ......07/14/2000.... 393505-M8-2............... GREEN TREE HOME IMPRV L 02/15/2009 6.710....................... ......12/01/2000.... 423328-BJ-1................ HELLER FINANCIAL INC 03/19/2004 6.000.............................. ......12/12/2000.... 524660-AR-8............... LEGGETT & PLATT INC 02/15/2005 7.650.............................. ......08/23/2000.... 65119Q-BE-2.............. NEWELL RUBBERMAID INC 07/15/2008 6.350......................... ......12/12/2000.... 760947-PP-0............... RESIDENTIAL FDG MTG SEC 11/01/2025 7.500........................ ......07/28/2000.... 84604C-AC-1.............. SOVEREIGN BANK HE LN TR 11/01/2004 7.110........................ ......12/04/2000.... 855084-AA-7............... STAR BANK NA 03/01/2004 6.375.................................... ......07/12/2000.... 872287-AE-7............... TCI COMMUNICATIONS INC 02/15/2006 6.875......................... ......12/12/2000.... 878154-AN-3............... TEAM FLEET FINANCING CO 11/25/2005 6.280......................... ......07/14/2000.... United States............................................................................................................... Foreign 25156P-AA-1............... DEUTSCHE TELEKOM FINANC 06/15/2005 7.750...................... .....Various........... 706448-AN-7............... PEMEX FINANCE LTD 11/15/2003 6.125............................... ......07/12/2000.... Foreign........................................................................................................................ 4599999. Total - Bonds - Industrial & Miscellaneous................................................................... 6099997. Total - Bonds - Part 3................................................................................................... 6099998. Total - Bonds - Summary Item from Part 5................................................................... 6099999. Total - Bonds............................................................................................................... 7299999. Total - Bonds, Preferred and Common Stocks............................................................. 3 5 6 Actual Cost Par Value 7 Paid for Accrued Interest and Dividends MERRILL LYNCH......................................................................... ......................................................... MORGAN STANLEY & CO........................................................... ......................................................... ................................................................................................................................................................. ........................................2,019,141 ...........................................484,585 ........................................2,503,726 ........................................2,000,000 ...........................................500,000 ........................................2,500,000 .............................................33,229 ...............................................6,569 .............................................39,798 ABN AMRO FINANCIAL SERVICES............................................ ......................................................... ................................................................................................................................................................. ................................................................................................................................................................. ................................................................................................................................................................. ...........................................946,440 ...........................................946,440 ...........................................946,440 ...........................................946,440 ........................................1,000,000 ........................................1,000,000 ........................................1,000,000 ........................................1,000,000 .............................................18,080 .............................................18,080 .............................................18,080 .............................................18,080 FHLMC......................................................................................... ......................................................... FHLMC......................................................................................... ......................................................... PAINE WEBBER........................................................................... ......................................................... SALOMON SMITH BARNEY, INC................................................ ......................................................... ................................................................................................................................................................. ................................................................................................................................................................. ................................................................................................................................................................. ........................................2,647,891 ........................................2,869,483 ........................................1,124,923 ........................................2,665,646 ........................................9,307,943 ........................................9,307,943 ........................................9,307,943 ........................................2,888,937 ........................................2,969,711 ........................................1,136,286 ........................................2,774,908 ........................................9,769,842 ........................................9,769,842 ........................................9,769,842 .............................................11,556 .............................................13,859 ...............................................7,102 ...............................................2,987 .............................................35,504 .............................................35,504 .............................................35,504 J P MORGAN SECURITIES INC.................................................. ......................................................... ................................................................................................................................................................. ................................................................................................................................................................. ...........................................984,372 ...........................................984,372 ...........................................984,372 ........................................1,000,000 ........................................1,000,000 ........................................1,000,000 .............................................31,319 .............................................31,319 .............................................31,319 DEUTSCHE BANK SECURITIES................................................. ......................................................... PRUDENTIAL SECURITIES......................................................... ......................................................... LEHMAN BROTHERS.................................................................. ......................................................... CHASE SECURITIES................................................................... ......................................................... BANC ONE CAPITAL MARKETS, INC......................................... ......................................................... MERRILL LYNCH......................................................................... ......................................................... PRUDENTIAL SECURITIES......................................................... ......................................................... MERRILL LYNCH......................................................................... ......................................................... BANK OF NEW YORK CAPITAL MKTS....................................... ......................................................... DEUTSCHE BANK SECURITIES................................................. ......................................................... MERRILL LYNCH......................................................................... ......................................................... PIPER JAFFRAY.......................................................................... ......................................................... MESIROW FINANCIAL INC.......................................................... ......................................................... PAINE WEBBER........................................................................... ......................................................... LEHMAN BROTHERS.................................................................. ......................................................... MORGAN STANLEY & CO........................................................... ......................................................... MORGAN STANLEY & CO........................................................... ......................................................... DEUTSCHE BANK SECURITIES................................................. ......................................................... ................................................................................................................................................................. ........................................1,015,977 ...........................................989,460 ........................................2,109,518 ...........................................952,578 ...........................................927,813 ........................................1,966,980 ...........................................979,820 ........................................1,000,330 ........................................1,000,920 ........................................2,035,109 ...........................................964,110 ...........................................609,210 ...........................................934,700 ........................................1,382,775 ........................................3,000,000 ...........................................960,810 ...........................................982,010 ...........................................943,242 ......................................22,755,362 ........................................1,000,000 ...............................................3,489 ........................................1,000,000 .............................................21,510 ........................................2,123,453 ..................................................931 ........................................1,000,000 ..................................................898 ........................................1,000,000 ..................................................907 ........................................2,000,000 .............................................56,350 ........................................1,000,000 .............................................16,378 ........................................1,000,000 .............................................37,083 ........................................1,000,000 ...............................................7,292 ........................................2,150,000 ...............................................8,415 ........................................1,000,000 .............................................14,333 ...........................................600,000 ...............................................1,658 ........................................1,000,000 .............................................26,458 ........................................1,414,151 ......................................................... ........................................3,000,000 ...............................................6,518 ........................................1,000,000 .............................................24,083 ........................................1,000,000 .............................................22,917 ........................................1,000,000 ...............................................4,187 ......................................23,287,604 ...........................................253,407 VARIOUS...................................................................................... ......................................................... MORGAN STANLEY & CO........................................................... ......................................................... ................................................................................................................................................................. ................................................................................................................................................................. ................................................................................................................................................................. ................................................................................................................................................................. ................................................................................................................................................................. ................................................................................................................................................................. ........................................2,016,710 ........................................2,000,000 ...........................................917,607 ...........................................933,333 ........................................2,934,317 ........................................2,933,333 ......................................25,689,679 ......................................26,220,937 ......................................39,432,160 ......................................40,490,779 ........................................1,920,510 ........................................2,000,000 ......................................41,352,670 ......................................42,490,779 ......................................41,352,670 ..........................XXX........................ Name of Vendor 4 Number of Shares of Stock ......................................................... ...............................................9,845 ...............................................9,845 ...........................................263,252 ...........................................387,953 .............................................25,521 ...........................................413,474 ...........................................413,474 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 3 Showing all Long-Term Bonds and Stocks ACQUIRED During Current Year 1 CUSIP Identification Description 2 3 Date Acquired Name of Vendor 4 Number of Shares of Stock 5 6 Actual Cost Par Value 7 Paid for Accrued Interest and Dividends 40.1 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 4 Showing all Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year 1 CUSIP Identification 2 Description Disposal Date 3 4 Name of Purchaser Number of Shares of Stock 41 Bonds - U.S. Government 912827-V4-1...... UNITED STATES TREASURY 09/30/2000 6.125....... .Various.... VARIOUS............................................... ............................ 0399999. Total - Bonds - U.S. Government..................................................................................................................................................... Bonds - Political Subdivisions of States Illinois 167560-FU-0...... CHICAGO IL MET WTR REC 12/01/2007 7.000......... 07/25/2000 GOLDMAN SACHS............................... ............................ 262651-JW-3..... DU PAGE CNTY IL 11/01/2006 6.000.................. 07/18/2000 GOLDMAN SACHS............................... ............................ Illinois.............................................................................................................................................................................................. United States................................................................................................................................................................................... 2499999. Total - Bonds - Political Subdivisions............................................................................................................................................... Bonds - Special Revenue and Special Assessment Illinois 167727-EL-6...... CHICAGO IL WASTEWATER 01/01/2008 6.500....... 11/15/2000 GOLDMAN SACHS............................... ............................ Illinois.............................................................................................................................................................................................. New York 649834-6J-2....... NEW YORK ST DORM AUTH 07/01/2004 6.875....... 07/12/2000 FIRST ALBANY..................................... ............................ New York........................................................................................................................................................................................ Texas 414003-Z4-8...... HARRIS CNTY TX 08/15/2004 6.250.................. 07/12/2000 GOLDMAN SACHS............................... ............................ Texas.............................................................................................................................................................................................. Vermont 924160-G8-1...... VERMONT EDL & HLTH BLD 11/01/2003 6.000........ 07/13/2000 FLEET SECURITIES............................. ............................ Vermont.......................................................................................................................................................................................... United States 31293M-LR-1..... FEDERAL HOME LN MTG CO 09/01/2028 6.000....... .Various.... PAYDOWN............................................ ............................ 31293S-PH-6..... FEDERAL HOME LN MTG CO 05/01/2029 7.000....... .Various.... PAYDOWN............................................ ............................ 31359Q-NZ-3..... FEDERAL NATIONAL MTG A 01/01/2003 7.000........ .Various.... PAYDOWN............................................ ............................ 31359X-RB-7..... FEDERAL NATIONAL MTG A 02/01/2019 7.500........ .Various.... VARIOUS............................................... ............................ 31371F-4K-5...... FEDERAL NATIONAL MTG A 07/01/2004 7.500........ .Various.... VARIOUS............................................... ............................ 31371G-C7-3..... FEDERAL NATIONAL MTG A 10/01/2004 6.500........ .Various.... VARIOUS............................................... ............................ U.S.................................................................................................................................................................................................. United States................................................................................................................................................................................... 3199999. Total - Bonds - Special Revenue & Assessment............................................................................................................................. Bonds - Public Utilities United States 708696-BK-4...... PENNSYLVANIA ELECTRIC 04/01/2004 5.750......... 12/12/2000 PIPER JAFFRAY................................... ............................ 709051-BZ-8...... PENN POWER & LIGHT RES 03/01/2006 6.550........ 11/30/2000 BANC ONE CAPITAL MARKETS, INC.. ............................ 737662-AW-6..... POTOMAC EDISON COMPANY 06/01/2006 8.000.... 07/21/2000 MESIROW FINANCIAL INC.................. ............................ 84243Q-AH-6..... SOUTHERN CALIFORNIA GA 01/18/2028 5.670....... 07/17/2000 MESIROW FINANCIAL INC.................. ............................ United States.................................................................................................................................................................................. 3899999. Total - Bonds - Public Utilities.......................................................................................................................................................... Bonds - Industrial and Miscellaneous United States 045906-QK-3..... ASSOCIATES CORPORATION 02/15/2000 6.200..... 02/15/2000 MATURITY............................................. ............................ 079867-AN-7...... BELLSOUTH TELECOMMUNIC 11/15/2045 5.850.... 07/17/2000 BANC ONE CAPITAL MARKETS, INC.. ............................ 08172L-B9-8...... BENEFICIAL CORPORATION 08/28/2002 7.125....... 07/21/2000 MESIROW FINANCIAL INC.................. ............................ 161626-Z8-2...... CHASE MTG FINANCE CORP 05/01/2024 7.897...... .Various.... VARIOUS............................................... ............................ 163717-FH-9...... CHEMICAL BANK 09/15/2002 7.250.................. 07/17/2000 BANC ONE CAPITAL MARKETS, INC.. ............................ 172967-AW-1..... CITIGROUP INC 03/15/2004 5.800.................... 07/20/2000 BARCLAYS CAPITAL............................ ............................ 337366-AA-6...... FIRST UNION CHASE COMM 06/01/2008 6.363....... .Various.... PAYDOWN............................................ ............................ 37042W-GK-1.... GENERAL MOTORS ACCEPTA 04/30/2001 6.700.... 07/20/2000 BANK OF NEW YORK CAPITAL MKTS ............................ 463586-AA-5...... IROQUOIS TR 97 1 A 10/15/2001 7.000................. .Various.... PAYDOWN............................................ ............................ 524908-BH-2...... LEHMAN BROTHERS HOLDIN 11/15/2000 6.625..... 07/17/2000 LEHMAN BROTHERS........................... ............................ 5 6 7 8 Consideration Par Value Actual Cost Book Value at Disposal Date 9 Increase by Adjustment in Book Value During Year 10 Decrease by Adjustment in Book Value During Year 11 12 Profit on Disposal Loss on Disposal 13 Interest on Bonds Received During Year 14 Dividends on Stocks Received During Year ............4,000,000 ............4,000,000 ............4,040,313 ............4,000,000 ........................... ...............10,726 ......................... ......................... .............306,250 ........................... ............4,000,000 ............4,000,000 ............4,040,313 ............4,000,000 ........................0 ...............10,726 ......................0 ......................0 .............306,250 ...........XXX......... ............2,261,460 ...............533,260 ............2,794,720 ............2,794,720 ............2,794,720 ............2,000,000 ...............500,000 ............2,500,000 ............2,500,000 ............2,500,000 ............2,381,780 ...............552,220 ............2,934,000 ............2,934,000 ............2,934,000 ............2,305,577 ...............540,614 ............2,846,191 ............2,846,191 ............2,846,191 ........................... ........................... ........................0 ........................0 ........................0 ...............19,974 .................3,079 ...............23,053 ...............23,053 ...............23,053 ......................... ......................... ......................0 ......................0 ......................0 .............44,117 ...............7,354 .............51,471 .............51,471 .............51,471 ...............92,167 ...............21,667 .............113,834 .............113,834 .............113,834 ........................... ........................... ...........XXX......... ...........XXX......... ...........XXX......... ...............346,330 ...............315,000 ...............362,014 ...............351,970 ........................... .................3,835 ......................... ...............5,640 ...............28,381 ........................... ...............346,330 ...............315,000 ...............362,014 ...............351,970 ........................0 .................3,835 ......................0 ...............5,640 ...............28,381 ...........XXX......... ...............988,884 ...............900,000 ............1,052,190 ............1,004,262 ........................... ...............10,825 ......................... .............15,378 ...............64,625 ........................... ...............988,884 ...............900,000 ............1,052,190 ............1,004,262 ........................0 ...............10,825 ......................0 .............15,378 ...............64,625 ...........XXX......... ............1,074,960 ............1,000,000 ............1,133,330 ............1,093,757 ........................... .................8,937 ......................... .............18,797 ...............57,639 ........................... ............1,074,960 ............1,000,000 ............1,133,330 ............1,093,757 ........................0 .................8,937 ......................0 .............18,797 ...............57,639 ...........XXX......... ............1,314,445 ............1,260,000 ............1,371,447 ............1,328,915 ........................... ...............10,596 ......................... .............14,470 ...............53,970 ........................... ............1,314,445 ............1,260,000 ............1,371,447 ............1,328,915 ........................0 ...............10,596 ......................0 .............14,470 ...............53,970 ...........XXX......... .................18,046 .................98,572 ...............448,805 ...............146,120 ............1,481,565 ............1,932,312 ............4,125,420 ............7,850,039 ............7,850,039 .................18,046 .................98,572 ...............448,805 ...............146,120 ............1,462,609 ............1,932,312 ............4,106,464 ............7,581,464 ............7,581,464 .................16,540 .................95,245 ...............448,263 ...............144,659 ............1,491,861 ............1,931,708 ............4,128,276 ............8,047,257 ............8,047,257 .................18,046 .................98,572 ...............448,805 ...............146,120 ............1,482,841 ............1,931,809 ............4,126,193 ............7,905,097 ............7,905,097 ........................8 ......................39 ....................114 ......................79 ........................... ....................101 ....................341 ....................341 ....................341 ........................... ........................... ........................... ........................... .................9,020 ........................... .................9,020 ...............43,213 ...............43,213 ......................... ......................... ......................... ......................... ......................... ..................503 ..................503 ..................503 ..................503 ......................... ......................... ......................... ......................... ...............1,276 ......................... ...............1,276 .............55,561 .............55,561 ....................268 .................2,210 ...............17,686 .................2,282 .............108,280 .............120,082 .............250,808 .............455,423 .............455,423 ........................... ........................... ........................... ........................... ........................... ........................... ...........XXX......... ...........XXX......... ...........XXX......... ............1,685,408 ...............978,610 ............1,002,000 ...............951,600 ............4,617,618 ............4,617,618 ............1,750,000 ............1,000,000 ............1,000,000 ............1,000,000 ............4,750,000 ............4,750,000 ............1,668,153 ...............979,610 ............1,017,466 ............1,000,000 ............4,665,229 ............4,665,229 ............1,685,760 ...............983,420 ............1,010,847 ............1,000,000 ............4,680,027 ............4,680,027 ...............16,242 .................2,369 ........................... ........................... ...............18,611 ...............18,611 ........................... ........................... .................4,713 ........................... .................4,713 .................4,713 ......................... ......................... ......................... ......................... ......................0 ......................0 ..................352 ...............4,810 ...............8,847 .............48,400 .............62,409 .............62,409 .............121,309 ...............82,603 ...............52,222 ...............50,085 .............306,219 .............306,219 ........................... ........................... ........................... ........................... ...........XXX......... ...........XXX......... ............1,000,000 ...............996,160 ...............990,930 .................36,063 ...............997,060 ...............957,920 .................66,734 ...............998,100 ...............118,864 ...............998,410 ............1,000,000 ............1,000,000 ............1,000,000 .................36,063 ............1,000,000 ............1,000,000 .................66,734 ............1,000,000 ...............118,864 ............1,000,000 ...............999,920 ............1,020,500 ............1,011,379 .................35,827 ............1,033,000 ...............958,500 .................65,035 ............1,001,400 ...............119,871 ............1,000,775 ............1,000,000 ............1,002,477 ............1,007,837 .................36,063 ............1,015,640 ...............965,950 .................66,734 ............1,000,363 ...............118,864 ............1,000,140 ........................9 ........................... ........................... ........................2 ........................... .................4,588 ....................131 ........................... ........................... ........................... ........................... .................4,157 .................1,924 ........................... .................3,661 ........................... ........................... ....................206 ......................56 ....................234 ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ...............6,317 .............16,907 ......................... .............18,580 ...............8,030 ......................... ...............2,263 ......................... ...............1,730 ...............17,911 ...............39,650 ...............43,740 ....................633 ...............61,222 ...............49,944 .................2,392 ...............54,717 .................3,808 ...............44,903 ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 4 Showing all Long-Term Bonds and Stocks SOLD, REDEEMED or Otherwise DISPOSED OF During Current Year 1 CUSIP Identification 532457-AK-4...... 619118-AA-0...... 638585-AS-8...... 760947-PP-0...... 81240Q-BK-7..... 871928-AR-8...... 92929Q-AP-2..... 957526-AA-4...... 2 Description Disposal Date 3 4 Name of Purchaser Number of Shares of Stock LILLY (ELI) & COMPANY 12/01/2001 8.125.............. .Various.... VARIOUS............................................... ............................ MORTGAGE INDEX AMORT T 08/25/2004 6.682...... .Various.... PAYDOWN............................................ ............................ NATIONSBANK CORPORATIO 09/15/2001 7.000..... 07/20/2000 BANC ONE CAPITAL MARKETS, INC.. ............................ RESIDENTIAL FDG MTG SE 11/01/2025 7.500......... .Various.... PAYDOWN............................................ ............................ SEARS ROEBUCK ACCEPTAN 10/06/2000 6.460.... 07/20/2000 BANC ONE CAPITAL MARKETS, INC.. ............................ TIERS TR CHAMT 97 7 A 04/15/2001 6.688............. .Various.... VARIOUS............................................... ............................ WMX TECHNOLOGIES INC 06/15/2001 7.125........ 07/20/2000 SALOMON SMITH BARNEY, INC......... ............................ WESTDEUTSCHE LANDESBAN 06/15/2005 6.750... 11/30/2000 BANK OF NEW YORK CAPITAL MKTS ............................ United States.................................................................................................................................................................................. Foreign 706448-AN-7...... PEMEX FINANCE LTD 11/15/2003 6.125.............. .Various.... SINKING FUND REDEMPTION............ ............................ Foreign............................................................................................................................................................................................ 4599999. Total - Bonds - Industrial & Miscellaneous....................................................................................................................................... 6099997. Total - Bonds - Part 4....................................................................................................................................................................... 6099998. Total - Bonds - Summary Item from Part 5...................................................................................................................................... 6099999. Total - Bonds.................................................................................................................................................................................... 7299999. Total - Bonds, Preferred and Common Stocks................................................................................................................................ 5 6 7 8 10 Decrease by Adjustment in Book Value During Year 11 12 Book Value at Disposal Date 9 Increase by Adjustment in Book Value During Year Consideration Par Value Actual Cost ............1,015,780 ...............135,877 ...............999,050 .................17,599 ...............998,650 .................23,474 ...............983,750 ...............985,400 ..........12,319,821 ............1,000,000 ...............135,877 ............1,000,000 .................17,599 ............1,000,000 .................23,474 ............1,000,000 ............1,000,000 ..........12,398,611 ...............133,333 ...............133,333 ..........12,453,154 ..........31,715,531 ............1,936,510 ..........33,652,041 ..........33,652,041 ...............133,333 ...............133,333 ..........12,531,944 ..........31,363,408 ............2,000,000 ..........33,363,408 ............XXX.......... Loss on Disposal 13 Interest on Bonds Received During Year 14 Dividends on Stocks Received During Year Profit on Disposal ............1,084,818 ...............135,875 ............1,047,450 .................17,208 ...............996,400 .................23,328 ............1,038,649 ...............985,010 ..........12,574,945 ............1,027,882 ...............135,877 ............1,019,040 .................17,599 ...............999,791 .................23,474 ............1,013,285 ...............987,408 ..........12,438,424 ........................... ....................496 ........................... ......................11 ....................527 ......................52 ........................... .................2,126 .................7,942 ...............24,887 ........................... .................9,069 ........................... ........................... ........................... .................8,157 ........................... ...............52,351 ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................0 .............12,102 ......................... .............19,990 ......................... ...............1,141 ......................... .............29,535 ...............2,008 ...........118,603 ...............82,153 .................4,662 ...............60,278 ....................358 ...............44,861 ....................805 ...............43,542 ...............65,625 .............621,204 ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ...........XXX......... ...............131,087 ...............131,087 ..........12,706,032 ..........32,392,831 ............1,920,510 ..........34,313,341 ..........34,313,341 ...............133,333 ...............133,333 ..........12,571,757 ..........32,003,072 ............1,927,970 ..........33,931,042 ..........33,931,042 ....................578 ....................578 .................8,520 ...............27,472 .................7,460 ...............34,932 ...............34,932 ........................... ........................0 ...............52,351 .............134,056 ........................... .............134,056 .............134,056 ......................... ......................0 ......................0 ..................503 ...............8,540 ...............9,043 ...............9,043 ......................... ......................0 ...........118,603 ...........288,044 ......................... ...........288,044 ...........288,044 .................3,063 .................3,063 .............624,267 ..........1,805,993 ...............56,778 ..........1,862,771 ..........1,862,771 ........................... ...........XXX......... ...........XXX......... ...........XXX......... ...........XXX......... ...........XXX......... ........................0 41.1 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 5 Showing all Long-Term Bonds and Stocks ACQUIRED During Current Year and Fully DISPOSED OF During Current Year 1 2 3 4 5 CUSIP IdentifiDate Disposal cation Description Acquired Name of Vendor Date Name of Purchaser Bonds - U.S. Government 3134A3-RE-8..... FEDERAL HOME LOAN M 05/15/2002 5.500...... .Various... MORGAN STANLEY & CO.............. 07/14/2000 LEGG MASON WOOD WALKER. 0399999. Total - Bonds - U.S. Government................................................................................................................................................................................... Bonds - Industrial and Miscellaneous United States 370425-QW-3.... GENERAL MOTORS ACCE 11/10/2003 5.750.... 07/25/2000 MORGAN STANLEY & CO.............. 09/11/2000 MERRILL LYNCH......................... United States................................................................................................................................................................................................................ 4599999. Total - Bonds - Industrial & Miscellaneous..................................................................................................................................................................... 6099998. Total - Bonds................................................................................................................................................................................................................. 7299999. Total - Bonds, Preferred and Common Stocks............................................................................................................................................................... 6 Par Value (Bonds) or Number of Shares (Stocks) 7 Cost to Company 8 9 10 11 12 13 14 15 Consideration Book Value at Disposal Date Increase by Adjustment in Book Value During Year Decrease by Adjustment in Book Value During Year Profit on Disposal Loss on Disposal Interest and Dividends Received During Year Paid for Accrued Interest and Dividends .........1,000,000 ...........968,940 ...........976,120 ...........974,661 ...........5,721 ..................... ...........1,459 ..................... .........36,972 ...........13,063 .........1,000,000 ...........968,940 ...........976,120 ...........974,661 ...........5,721 ..................0 ...........1,459 ..................0 .........36,972 ...........13,063 .........1,000,000 .........1,000,000 .........1,000,000 .........2,000,000 .........XXX.......... ...........951,570 ...........951,570 ...........951,570 ........1,920,510 ........1,920,510 ...........960,390 ...........960,390 ...........960,390 ........1,936,510 ........1,936,510 ...........953,309 ...........953,309 ...........953,309 ........1,927,970 ........1,927,970 ...........1,739 ...........1,739 ...........1,739 ...........7,460 ...........7,460 ..................... ..................0 ..................0 ..................0 ..................0 ...........7,081 ...........7,081 ...........7,081 ...........8,540 ...........8,540 ..................... ..................0 ..................0 ..................0 ..................0 .........19,806 .........19,806 .........19,806 .........56,778 .........56,778 ...........12,458 ...........12,458 ...........12,458 ...........25,521 ...........25,521 42 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE D - PART 6 - SECTION 1 Valuation of Shares of Subsidiary, Controlled or Affiliated Companies 1 CUSIP Identification Description Name of Subsidiary, Controlled or Affiliated Company 2 3 4 NAIC NAIC Valuation Company Method Do Insurer's Admitted Code or Alien (See SVO Assets Include Intangible Insurer Purposes and Assets Connected Identification Procedures with Holding of Such Number manual) Company's Stocks? 5 6 If Yes, Amount of Such Intangible Assets Statement Value Stock of Such Company Owned by Insurer on Statement Date 7 8 Number of Shares % of Outstanding Amount of insurer's capital and surplus from the prior year's annual statement: $...............0. 1 CUSIP Identification Name of Lower-tier Company SCHEDULE D - PART 6 - SECTION 2 2 3 Name of Company Listed in Section 1 Which Controls Lower-tier Company Amount of Intangible Assets Included in Amount Shown in Column 5, Section 1 43 Stock in Lower-Tier Company Owned Indirectly by Insurer on Statement Date 4 5 Number of Shares % of Outstanding Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE DA - PART 1 Showing all SHORT-TERM INVESTMENTS Owned December 31 of Current Year 1 CUSIP Identification 2 Description 3 Date Acquired 4 Name of Vendor Interest 5 6 Rate of How Paid Date of Maturity 9 Year Month Book Value 7 8 U.S. Government Bonds - Issuer Obligations 313397-AY-7. FEDERAL HOME LOAN MTG CORP...................................... .12/2000 VARIOUS........................................... ............. DISC ..2001 .....01 0199999. U.S. Government Bonds- Issuer Obligations............................................................................................................................................................ 0399999. Total - U.S. Government Bonds................................................................................................................................................................................ Totals 5499999. Total Bonds - Issuer Obligations............................................................................................................................................................................... 6099999. Total - Bonds............................................................................................................................................................................................................. 8099999. Grand Total - Short-Term Investments...................................................................................................................................................................... (a) Includes $...............0 other than accrual of discount and amortization of premium. 10 Increase or (Decrease) by Adjustment in Book Value During Year 11 Par Value 12 Rate Used To Obtain Statement Value 13 Statement Value 14 Actual Cost Interest 15 16 Amount Due and Accrued Dec. 31 of Current Year Gross on Bonds not in Amount Default Received 17 18 19 Paid for Accrued Interest NAIC Designation Effective Rate of Interest ..........1,972,498 .............1,705 ..........1,980,000 .....99.621 ..........1,972,498 ..........1,970,793 .......................... ....................... ..................... ....1...... ..........6.229 ..........1,972,498 .............1,705 ..........1,980,000 .....XXX..... ..........1,972,498 ..........1,970,793 .......................0 ....................0 ..................0 ....XXX.. ......XXX...... ..........1,972,498 .............1,705 ..........1,980,000 .....XXX..... ..........1,972,498 ..........1,970,793 .......................0 ....................0 ..................0 ....XXX.. ......XXX...... ..........1,972,498 .............1,705 ..........1,980,000 .....XXX..... ..........1,972,498 ..........1,970,793 .......................0 ....................0 ..................0 ....XXX.. ......XXX...... ..........1,972,498 .............1,705 ..........1,980,000 .....XXX..... ..........1,972,498 ..........1,970,793 .......................0 ....................0 ..................0 ....XXX.. ......XXX...... ..........1,972,498 (a)........1,705 .........XXX........... .....XXX..... ..........1,972,498 ..........1,970,793 .......................0 ....................0 ..................0 ....XXX.. ......XXX...... 44 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE DA - PART 2 Verification of SHORT-TERM INVESTMENTS Between Years 1 Total 2 Bonds 3 4 5 Mortgage Loans Other Short-term Investment Assets (a) Investments in Parent, Subsidiaries and Affiliates 1. Book value, prior year.......................................................................................................................................................... ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... 2. Cost of short-term investments acquired............................................................................................................................. ..........................................1,972,498 ..........................................1,972,498 .......................................................... .......................................................... .......................................................... 3. Increase by adjustment in book value.................................................................................................................................. ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... 4. Profit on disposal of short-term investments........................................................................................................................ ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... 5. Subtotals (Total of Lines 2 to 4)........................................................................................................................................... ..........................................1,972,498 ..........................................1,972,498 ........................................................0 ........................................................0 ........................................................0 6. Consideration received on disposal of short-term investments........................................................................................... ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... 45 7. Decrease by adjustment in book value................................................................................................................................ ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... 8. Loss on disposal of short-term investments......................................................................................................................... ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... 9. Subtotals (Total of Lines 6 to 8)........................................................................................................................................... ........................................................0 ........................................................0 ........................................................0 ........................................................0 ........................................................0 10. Book value, current year...................................................................................................................................................... ..........................................1,972,498 ..........................................1,972,498 ........................................................0 ........................................................0 ........................................................0 11. Income collected during year .............................................................................................................................................. ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... 12. Income earned during year.................................................................................................................................................. ........................................................0 .......................................................... .......................................................... .......................................................... .......................................................... (a) Indicate the category of such assets, for example, joint ventures, transportation equipment:....................................... Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. DB-Pt. A-Sn. 1 NONE Sch. DB-Pt. A-Sn. 2 NONE Sch. DB-Pt. A-Sn. 3 NONE Sch. DB-Pt. A-Sn. 4 NONE Sch. DB-Pt. B-Sn. 1 NONE Sch. DB-Pt. B-Sn. 2 NONE Sch. DB-Pt. B-Sn. 3 NONE Sch. DB-Pt. B-Sn. 4 NONE Sch. DB-Pt. C-Sn. 1 NONE Sch. DB-Pt. C-Sn. 2 NONE Sch. DB-Pt. C-Sn. 3 NONE Sch. DB-Pt. C-Sn. 4 NONE Sch. DB-Pt. D-Sn. 1 NONE Sch. DB-Pt. D-Sn. 2 NONE Sch. DB-Pt. D-Sn. 3 NONE Sch. DB-Pt. D-Sn. 4 NONE Sch. DB-Pt. E-Sn. 1 NONE Sch. DB-Pt. E-Sn. 2 NONE Sch. DB-Pt. F-Sn. 1 NONE Sch. DB-Pt. F-Sn. 2 NONE 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE DM For bonds and preferred stocks owned as of December 31, state the aggregate statement (admitted) value, the aggregate fair market value, and the aggregate difference, if any, between them. 1 Statement (Admitted) Value 2 Fair Market Value (a) 3 Excess of Statement over Market (-), or Market over Statement (+) 1. Bonds................................................................................................ ..........................................62,413,075 ..........................................62,580,285 ...............................................167,210 2. Preferred stocks................................................................................ ............................................1,872,500 ............................................1,872,500 ..........................................................0 3. Totals................................................................................................ ..........................................64,285,575 ..........................................64,452,785 (a) Amortized or book values shall not be substituted for fair market values. Describe the sources or methods utilized in determining the fair market values The market values of bonds and preferred stocks shown above are based upont he closing prices for publicly traded securities The market value of other securities were obtained from Muller Pricing Service, Bridge Capital Markets, Kenney Information Systems, ABSG, Lehman Brothers, or independent security dealers. 57 ...............................................167,210 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY 1 SCHEDULE E - PART 1 - CASH 2 Depository Open Depositories PNC Bank.................................................................. Pittsburgh, Pennsylvania........................................... 0199999. Total - Open Depositories.............................................................................................................. 0399999. Total - Cash on Deposit................................................................................................................. 0599999. Total Cash..................................................................................................................................... Rate of Interest 3 Amount of Interest Received During Year 4 Amount of Interest Accrued December 31 of Current Year 5 Balance .......................... ..........XXX......... ..........XXX......... ..........XXX......... ..................168,689 ..................168,689 ..................168,689 ..................168,689 ....................17,672 ....................17,672 ....................17,672 ....................17,672 ..................906,675 ..................906,675 ..................906,675 ..................906,675 TOTALS OF DEPOSITORY BALANCES ON THE LAST DAY OF EACH MONTH DURING THE CURRENT YEAR 1. January............. ........................2,380,895 4. April.................. ........................1,939,362 7. July................... ........................4,230,603 10. October........... ........................5,033,886 2. February........... ........................2,428,504 5. May................... ........................1,926,628 8. August.............. ...........................935,555 11. November....... ........................9,044,685 3. March................ ........................2,371,095 6. June.................. ........................1,528,424 9. September........ ........................6,575,327 12. December....... ...........................906,675 58 . . . . Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE E - PART 2 - SPECIAL DEPOSITS 59 Line Number Type Description of Deposit SPECIAL DEPOSITS WHICH ARE FOR THE BENEFIT OF ALL POLICYHOLDERS Alaska AK00001. ...............B.................... IN MUNI PWR AGY PWR SUPPLY 5.875% , DUE 01/01/09......................................... AK99999. Alaska................................................................................................................................................................... Arizona AZ00001. ...............B.................... U.S. TREASURY NOTE 6.25%, DUE 02/15/03............................................................. AZ99999. Arizona.................................................................................................................................................................. Georgia GA00001. ...............B.................... U.S. TREASURY NOTE 6.25%, DUE 02/15/03............................................................. GA99999. Georgia................................................................................................................................................................. Nevada NV00001. ...............B.................... IN MUNI PWR AGY PWR SUPPLY 5.875% , DUE 01/01/09......................................... NV99999. Nevada.................................................................................................................................................................. New Mexico NM00001. ...............B.................... IN MUNI PWR AGY PWR SUPPLY 5.875% , DUE 01/01/09......................................... NM99999. New Mexico........................................................................................................................................................... New York NY00001. ...............B.................... FORD MOTOR CR CO 7.50%, DUE 06/15/03.............................................................. NY00002. ...............B.................... SOUTHERN CALIFORNIA EDISON.............................................................................. NY00003. ...............B.................... STAR BANK NA............................................................................................................ NY99999. New York.............................................................................................................................................................. Pennsylvania PA00001. ...............B.................... FEDERAL HOME LOAN MTG CORP............................................................................ PA99999. Pennsylvania......................................................................................................................................................... ZZ99999. Total - All Special Deposits Held for Benefit of all Policyholders, Claimants, & Creditors of the Company............. 9999999. Totals..................................................................................................................................................................... Where Deposited and Purpose of Deposit 1 Par or Book Value 2 Statement Value 3 Market Value REGIONS BANK - ALASKA....................................................................................... ................................................................................................................................... .......................................108,802 .......................................108,802 .......................................109,511 .......................................109,511 .......................................109,511 .......................................109,511 PNC BANK - ARIZONA............................................................................................. ................................................................................................................................... .......................................604,944 .......................................604,944 .......................................604,944 .......................................604,944 .......................................612,882 .......................................612,882 WACHOVIA BANK - GEORGIA................................................................................. ................................................................................................................................... .........................................85,700 .........................................85,700 .........................................85,700 .........................................85,700 .........................................86,825 .........................................86,825 PNC BANK - NEVADA............................................................................................... ................................................................................................................................... .......................................326,405 .......................................326,405 .......................................328,533 .......................................328,533 .......................................328,533 .......................................328,533 BANK OF SANTA FE - NEW MEXICO...................................................................... ................................................................................................................................... .......................................217,603 .......................................217,603 .......................................219,022 .......................................219,022 .......................................219,022 .......................................219,022 CHASE MANHATTAN BANK - NEW YORK.............................................................. CHASE MANHATTAN BANK - NEW YORK.............................................................. CHASE MANHATTAN BANK - NEW YORK.............................................................. ................................................................................................................................... ....................................1,000,885 .......................................967,771 .......................................627,440 ....................................2,596,096 ....................................1,020,616 .......................................819,417 .......................................648,728 ....................................2,488,761 ....................................1,020,616 .......................................819,417 .......................................648,728 ....................................2,488,761 PNC BANK - PENNSYLVANIA.................................................................................. ................................................................................................................................... ................................................................................................................................... ................................................................................................................................... ....................................2,018,502 ....................................2,018,502 ....................................5,958,052 ....................................5,958,052 ....................................2,081,420 ....................................2,081,420 ....................................5,917,891 ....................................5,917,891 ....................................2,081,420 ....................................2,081,420 ....................................5,926,954 ....................................5,926,954 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE F-PART 1 Assumed Reinsurance as of December 31, Current Year (000 Omitted) 1 2 Federal NAIC Paid Losses and ID Company Domiciliary Assumed Loss Adjustment Code Name of Reinsured Jurisdiction Premium Expenses Number Affiliated - U. S. Intercompany Pooling: 23-1997049.... 32859......... Penn-America Insurance Company..................................... Hatboro, PA........................................................... ..............34,038 ...................921 0199999. Affiliated - U. S. Intercompany Pooling...................................................................................................................................... ..............34,038 ...................921 0499999. Total Affiliates............................................................................................................................................................................ ..............34,038 ...................921 9999999. Totals........................................................................................................................................................................................ ..............34,038 ...................921 (a) For a bulk deposit and/or compensating balance which is held as security to multiple letters of credit, indicate next to the amount, the following symbol # Total assets indicated with #...............0 pledged for total letters of credit ...............0. (Use a different symbol for each bulk deposit posted for multiple letters of credit.) Reinsurance On 3 4 5 6 Known Case Losses and LAE Cols. 2+3 Contingent Commissions Payable ................8,556 ................8,556 ................8,556 ................8,556 ................9,477 ................9,477 ................9,477 ................9,477 ................1,300 ................1,300 ................1,300 ................1,300 7 8 9 Assumed Premiums Receivable Unearned Premium Funds held by or Deposited With Reinsured Companies Letters of Credit Posted 10 Amount of Assets Pledged or Compensating Balance to Secure Letters of Credit (a) ................1,778 ................1,778 ................1,778 ................1,778 ..............13,511 ..............13,511 ..............13,511 ..............13,511 .......................... .......................0 .......................0 .......................0 .......................... .......................0 .......................0 .......................0 .......................... ... .......................0 .......................0 .......................0 60 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE F - PART 2 Premium Portfolio Reinsurance Effected or (Canceled) during Current Year Federal ID Number NAIC Company Code Name of Company 61 1 2 3 Date of Contract Original Premium Reinsurance Premium Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE F - PART 3 Ceded Reinsurance as of December 31, Current Year (000 Omitted) Reinsurance 1 Contracts Ceding 75% or More of Direct Reinsurance Premiums Premiums Written Ceded Federal NAIC ID Company Domiciliary Paid Paid Number Code Name of Reinsurer Jurisdiction Losses LAE Authorized Affiliates-U.S. Intercompany Pooling 23-1997049 32859....... Penn-America Insurance Company................................. Hatboro, PA.................................... ........................ ........4,090 ................ ................ ............607 0199999. Total Authorized - Affiliates - U.S. Intercompany Pooling........................................................................................................ ........4,090 .............0 .............0 ............607 0499999. Total Authorized - Affiliates..................................................................................................................................................... ........4,090 .............0 .............0 ............607 Reinsurance Recoverable on 5 6 7 Known Case IBNR IBNR LAE Loss LAE Reserves Reserves Reserves Unearned Contingent Premiums Commissions ...............9 ...............9 ...............9 ...........759 ...........515 ...........759 ...........515 ...........759 ...........515 ........1,784 ...............68 ........1,784 ...............68 ........1,784 ...............68 ..........3,742 ...........332 .................. ..............3,410 .................... ..........3,742 ...........332 ...............0 ..............3,410 .................0 ..........3,742 ...........332 ...............0 ..............3,410 .................0 Other U.S. Unaffiliated Insurers 13-2673100 22039....... General Reinsurance Corporation................................... Stamford, CT.................................. ........................ 13-4924125 10227....... American Reinsurance Company.................................... Princeton, New Jersey.................... ........................ 06-0384680 11452....... Hartford Steam Boiler...................................................... Hartford, Connecticut...................... ........................ 36-2661954 10103....... American Agricultural Insurance Company...................... Columbus, Ohio.............................. ........................ 22-2005057 26921....... Everest Reinsurance Company....................................... Liberty Corner, New Jersey............ ........................ 13-5009848 32190....... Gerling Global Reinsurance Corp. of America................. New York, New York...................... ........................ 06-1325038 39136....... Zurich Reinsurance North America, Inc........................... New York, New York...................... ........................ 0599999. Total Authorized - Other U.S. Unaffiliated Insurers................................................................................................................. 0999999. Total Authorized...................................................................................................................................................................... 2 3 4 Known Case Loss Reserves 8 9 10 Cols. 2 thru 9 Totals Reinsurance Payable 13 14 11 12 Net Amount Funds Held Other Recoverable By Company Ceded Amounts From Under Balances Due to Reinsurers Reinsurance Payable Reinsurers Col. 10-[11+12] Treaties ...........592 .............30 ...............4 ...............2 .............12 ...............7 .............12 ...........659 ........4,749 ................ ................ ................ ................ ................ ................ ................ .............0 .............0 ................ ................ ................ ................ ................ ................ ................ .............0 .............0 ..............63 ................... ................... ................... ................... ................... ................... ..............63 ............670 ...............5 ................... ................... ................... ................... ................... ................... ...............5 ..............14 .................. .................. .................. .................. .................. .................. .................. ...............0 ...........759 .................. .................. .................. .................. .................. .................. .................. ...............0 ...........515 ...........275 .............10 ...............2 .................. .................. .................. .................. ...........287 ........2,071 .................... .................... .................... .................... .................... .................... .................... .................0 ...............68 .............343 ...............10 .................2 .................0 .................0 .................0 .................0 .............355 ..........4,097 ...........196 ...............4 ...............2 .................. .................. .................. .................. ...........202 ...........534 .................. .................. .................. .................. .................. .................. .................. ...............0 ...............0 .................147 .....................6 .....................0 .....................0 .....................0 .....................0 .....................0 .................153 ..............3,563 .................... .................... .................... .................... .................... .................... .................... .................0 .................0 .............13 ...............6 ...............1 .............20 .............20 ........4,769 ................ ................ ................ .............0 .............0 .............0 ................ ................ ................ .............0 .............0 .............0 ................... ................... ................... ...............0 ...............0 ............670 ................... ................... ................... ...............0 ...............0 ..............14 .................. .................. .................. ...............0 ...............0 ...........759 .................. .................. .................. ...............0 ...............0 ...........515 .................. .................. .................. ...............0 ...............0 ........2,071 .................... .................... .................... .................0 .................0 ...............68 .................0 .................0 .................0 .................0 .................0 ..........4,097 .................. .................. .................. ...............0 ...............0 ...........534 .................. .................. .................. ...............0 ...............0 ...............0 .....................0 .....................0 .....................0 .....................0 .....................0 ..............3,563 .................... .................... .................... .................0 .................0 .................0 Unauthorized 62 Other Non-U.S. Insurers AA-1122000 00000....... Lloyd's ............................................................................ London, England............................. ........................ AA-1560999 00000....... Zurich Insurance Company.............................................. London, England............................. ........................ AA-1120355 00000....... CNA Reinsurance Company LImited............................... London, England............................. ........................ 1799999. Total Unauthorized - Other Non-U.S. Insurers........................................................................................................................ 1899999. Total Unauthorized.................................................................................................................................................................. 9999999. Totals...................................................................................................................................................................................... Note: Report the five largest provisional commission rates included in the cedant's reinsurance treaties. The commission rate to be reported is by contract with ceded premium in excess of $50,000 1 2 3 Commission Ceded Name of Company Rate Premium (1) ............................................................................................................................................. ....................... .................. (2) ............................................................................................................................................. ....................... .................. (3) ............................................................................................................................................. ....................... .................. (4) ............................................................................................................................................. ....................... .................. (5) ............................................................................................................................................. ....................... .................. Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. F-Pt. 4 NONE Sch. F-Pt. 5 NONE Sch. F-Pt. 6 NONE Sch. F-Pt. 7 NONE 63, 64, 65, 66 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE F - PART 8 Restatement of Balance Sheet to Identify Net Credit for Reinsurance 1 2 3 As Reported Restatement Restated (Net of Ceded) Adjustments (Gross of Ceded) ASSETS (Page 2, Col. 4) 1. Cash and invested assets (Line 9).......................................................................................... .............................65,192,250 ............................................... .............................65,192,250 2. Agents' balances or uncollected premiums (Line 10)............................................................... ...............................3,899,227 3. Funds held by or deposited with reinsured companies (Line 11)............................................. ............................................... ............................................... ............................................0 4. Reinsurance recoverable on loss and loss adjustment expense payments (Line 13).............. ............................................... ............................................... ............................................0 5. Other assets (Lines 12 and 14 through 21)............................................................................. ...............................1,097,920 ............................................... ...............................1,097,920 6. Net amount recoverable from reinsurers................................................................................. ............................................... ...............................3,483,680 ...............................3,483,680 7. Totals (Line 22)....................................................................................................................... .................................533,433 ...............................4,432,660 .............................70,189,397 ...............................4,017,113 .............................74,206,510 LIABILITIES (Page 3) 8. Losses and loss adjustment expenses (Lines 1 through 2)...................................................... .............................25,911,431 ...............................1,958,342 .............................27,869,773 9. Taxes, expenses, and other obligations (Lines 3 through 8).................................................... ...............................1,299,778 ............................................... ...............................1,299,778 10. Unearned premiums (Line 9)................................................................................................... .............................13,511,447 ...............................2,058,771 .............................15,570,218 11. Dividends declared and unpaid (Line 10)................................................................................ ............................................... ............................................... ............................................0 12. Funds held by company under reinsurance treaties (Line 11)................................................. ............................................... ............................................... ............................................0 13. Amounts withheld or retained by company for account of others (Line 12).............................. ............................................... ............................................... ............................................0 14. Provision for reinsurance (Line 14).......................................................................................... ............................................... ............................................... ............................................0 15. Other liabilities (Lines 13 and 15 through 22).......................................................................... .................................486,583 ............................................... .................................486,583 16. Total liabilities (Line 23).......................................................................................................... .............................41,209,239 ...............................4,017,113 .............................45,226,352 17. Surplus as regards policyholders (Line 27).............................................................................. .............................28,980,158 ......................XXX.................. .............................28,980,158 18. Totals (Line 28)....................................................................................................................... .............................70,189,397 ...............................4,017,113 .............................74,206,510 NOTE: Is the restatement of this exhibit the result of grossing up balances ceded to affiliates under 100 percent reinsurance or pooling arrangements?..Yes [ X ] No [ If yes, give full explanation: In part, 100 percent of personal lines business for 1998 was assumed from Penn-America from 1-1-98 to 6-30-98. In addition, on 7-1-98 the Company com menced a pooling arrangement with Penn-America Insurance Company 67 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. H-Pt. 1 NONE Sch. H-Pt. 2 NONE Sch. H-Pt. 3 NONE Sch. H-Pt. 4 NONE Sch. H-Pt. 5 NONE 68, 69, 70 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - ANALYSIS OF LOSSES AND LOSS EXPENSES SCHEDULE P - PART 1 - SUMMARY ($000 Omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed Ceded 3 Loss Payments 4 5 Direct and Assumed Ceded Net (Cols. 1- 2) Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior........ .........XXX...... .........XXX...... .........XXX...... .................... .................... .................... .................... .................... .................... .................... ...................0 ......XXX....... 2. 1991........ ...................... ...................... ...................0 .................... .................... .................... .................... .................... .................... .................... ...................0 ......XXX....... 3. 1992........ ...................... ...................... ...................0 .................... .................... .................... .................... .................... .................... .................... ...................0 ......XXX....... 4. 1993........ ...................... ...................... ...................0 .................... .................... .................... .................... .................... .................... .................... ...................0 ......XXX....... 5. 1994........ ...................... ...................... ...................0 .................... .................... .................... .................... .................... .................... .................... ...................0 ......XXX....... 6. 1995........ ...................... ...................... ...................0 .................... .................... .................... .................... .................... .................... .................... ...................0 ......XXX....... 7. 1996........ ...................... ...................... ...................0 .................... .................... .................... .................... .................... .................... ...............12 ...................0 ......XXX....... 8. 1997........ ...........19,918 ...................... ...........19,918 ........11,713 .................... .............570 .................... .............574 .................... .............343 ...........12,857 ......XXX....... 9. 1998........ ...........35,194 .............4,798 ...........30,396 ........14,457 ...............22 .............965 .................... ..........1,030 .................1 .............385 ...........16,429 ......XXX....... 10. 1999........ ...........30,974 .............1,084 ...........29,890 ........11,525 .............157 .............498 .................... ..........1,768 ...............32 .............173 ...........13,602 ......XXX....... 11. 2000........ ...........35,622 .............3,615 ...........32,007 ..........8,892 ..........1,124 ...............21 .................2 ..........1,094 ...............76 ...............37 .............8,805 ......XXX....... 12. Totals...... .........XXX...... .........XXX...... .........XXX...... ........46,587 ..........1,303 ..........2,054 .................2 ..........4,466 .............109 .............950 ...........51,693 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Expenses Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ...................0 ......XXX...... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ...................0 ......XXX...... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ...................0 ......XXX...... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ...................0 ......XXX...... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ...................0 ......XXX...... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ...................0 ......XXX...... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ...................0 ......XXX...... 8. 1997.... ............155 ................... ............166 ................... ..............12 ................... ..............44 ................... ................... ................... ................... ...............377 ......XXX...... 9. 1998.... .........1,030 ................... .........1,394 ................1 ..............50 ................... ............701 ................1 ............234 ................... ................... .............3,407 ......XXX...... 10. 1999.... .........2,595 ..............99 .........2,310 ..............82 ..............57 ................... .........1,610 ..............71 ............538 ..............23 ................... .............6,835 ......XXX...... 11. 2000.... .........5,231 ............572 .........6,520 ............677 ............111 ..............13 .........3,144 ............315 .........1,047 ............106 ................... ...........14,370 ......XXX...... 12. Totals.. .........9,011 ............671 .......10,390 ............760 ............230 ..............13 .........5,499 ............387 .........1,819 ............129 ................0 ...........24,989 ......XXX...... 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense Inter-Company Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... .........XXX........ .........XXX........ .........XXX....... .........XXX....... .........XXX....... ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. ............13,234 .....................0 ............13,234 ...............66.4 .................0.0 ...............66.4 ........................ ........................ ....................... .................321 ...................56 9. 1998. ............19,861 ...................25 ............19,836 ...............56.4 .................0.5 ...............65.3 ........................ ........................ .............35.00 ..............2,423 .................984 10. 1999. ............20,901 .................464 ............20,437 ...............67.5 ...............42.8 ...............68.4 ........................ ........................ .............35.00 ..............4,724 ..............2,111 11. 2000. ............26,060 ..............2,885 ............23,175 ...............73.2 ...............79.8 ...............72.4 ........................ ........................ .............35.00 ............10,502 ..............3,868 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ ............17,970 ..............7,019 Note: Parts 2 and 4 are gross of all discounting, including tabular discounting. Part 1 is gross of only nontabular discounting, which is reported in Columns 32 and 33 o Part 1. The tabular discount, if any, is reported in the Notes to Financial Statements which will reconcile Part 1 with Parts 2 and 4. 71 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 2 - SUMMARY Years in Which Losses Were Incurred Incurred Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1 1991 1992 1993 1994 1995 1996 1997 1998 DEVELOPMENT 11 12 10 1999 One Year 2000 Two Year 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994... ........XXX...... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... .........13,240 .........12,674 .........12,934 .........12,660 .............(274) ...............(14) 9. 1998... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... .........19,283 .........18,177 .........18,573 ..............396 .............(710) 10. 1999... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... .........17,319 .........18,186 ..............867 ........XXX...... 11. 2000... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... .........21,216 ........XXX...... ........XXX...... 12. Totals ..............989 .............(724) SCHEDULE P - PART 3 - SUMMARY Cumulative Paid Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1 Years in Which Losses Were Incurred 1991 1992 1993 1994 1995 1996 1997 1998 10 1999 2000 11 Number of Claims Closed With Loss Payment 12 Number of Claims Closed Without Loss Payment 1. Prior..... ........000....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ........XXX...... ........XXX...... 2. 1991... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ........XXX...... ........XXX...... 3. 1992... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ........XXX...... ........XXX...... 4. 1993... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ........XXX...... ........XXX...... 5. 1994... ........XXX...... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ........XXX...... ........XXX...... 6. 1995... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ..................... ........XXX...... ........XXX...... 7. 1996... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ..................... ..................... ..................... ..................... ..................... ........XXX...... ........XXX...... 8. 1997... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ...........4,440 ...........9,803 .........11,546 .........12,283 ........XXX...... ........XXX...... 9. 1998... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ...........8,149 .........13,479 .........15,400 ........XXX...... ........XXX...... 10. 1999... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ...........7,174 .........11,866 ........XXX...... ........XXX...... 11. 2000... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ........XXX...... ...........7,787 ........XXX...... ........XXX...... SCHEDULE P - PART 4 - SUMMARY Years in Which Losses Were Incurred 1 1991 Bulk and IBNR Reserves on Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991....... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992....... ..........XXX........ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993....... ..........XXX........ ..........XXX........ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994....... ..........XXX........ ..........XXX........ ..........XXX........ ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995....... ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996....... ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ......................... ......................... ......................... ......................... ......................... 8. 1997....... ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ...............5,672 ...............1,421 ..................858 ..................210 9. 1998....... ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ...............7,063 ...............2,849 ...............2,093 10. 1999....... ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ...............6,708 ...............3,767 11. 2000....... ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ..........XXX........ ...............8,672 72 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1A - HOMEOWNERS/FARMOWNERS ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 8. 1997....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 9. 1998....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 10. 1999....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 11. 2000....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 12. Totals..... .........XXX....... .........XXX....... .........XXX....... .................0 .................0 .................0 .................0 .................0 .................0 .................0 ....................0 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 9. 1998.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 10. 1999.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 11. 2000.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 12. Totals... ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ....................0 ................0 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 9. 1998. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 10. 1999. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 11. 2000. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ .....................0 .....................0 73 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1B - PRIVATE PASSENGER AUTO LIABILITY/MEDICAL ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 8. 1997....... ...........16,952 ....................... ...........16,952 ..........9,320 .................... .............543 .................... .............512 .................... .............116 ...........10,375 ..........4,359 9. 1998....... ...........19,781 .............3,957 ...........15,824 ..........8,904 .................8 .............283 .................... .............538 .................... ...............67 .............9,717 ..........5,532 10. 1999....... .............4,000 ..................10 .............3,990 ..........1,845 .................1 ...............57 .................... .............187 .................1 .................9 .............2,087 ..........1,260 11. 2000....... .............1,092 ....................2 .............1,090 .............421 .................... .................2 .................... ...............76 .................... .................3 ................499 .............298 12. Totals..... .........XXX....... .........XXX....... .........XXX....... ........20,490 .................9 .............885 .................0 ..........1,313 .................1 .............195 ...........22,678 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ............154 ................... ............166 ................... ..............12 ................... ..............43 ................... ................... ................... ................... ................375 ................... 9. 1998.... ............258 ................... ............588 ................... ................9 ................... ............196 ................... ..............65 ................... ................... .............1,116 ..............25 10. 1999.... ............266 ................... ............472 ................3 ................8 ................... ..............26 ................... ................9 ................... ................... ................778 ..............47 11. 2000.... ............259 ................... ..............86 ................... ................4 ................... ..............21 ................... ................7 ................... ................... ................377 ..............77 12. Totals... ............937 ................0 .........1,312 ................3 ..............33 ................0 ............286 ................0 ..............81 ................0 ................0 .............2,646 ............149 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. ............10,750 .....................0 ............10,750 ...............63.4 .................0.0 ...............63.4 ........................ ........................ ....................... .................320 ...................55 9. 1998. ............10,841 .....................8 ............10,833 ...............54.8 .................0.2 ...............68.5 ........................ ........................ .............35.00 .................846 .................270 10. 1999. ..............2,870 .....................5 ..............2,865 ...............71.8 ...............50.0 ...............71.8 ........................ ........................ .............35.00 .................735 ...................43 11. 2000. .................876 .....................0 .................876 ...............80.2 .................0.0 ...............80.4 ........................ ........................ .............35.00 .................345 ...................32 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ ..............2,246 .................400 74 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1C - COMMERCIAL AUTO/TRUCK LIABILITY/MEDICAL ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 8. 1997....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................1 9. 1998....... ................181 ....................... ................181 .............178 .................... .................2 .................... .................8 .................... .................1 ................188 ...............65 10. 1999....... .............1,097 ..................79 .............1,018 .............815 .................6 ...............15 .................... .............115 .................... ...............16 ................939 .............336 11. 2000....... .............2,275 ................466 .............1,809 ..........1,127 .............264 .................1 .................... ...............96 ...............11 .................9 ................949 .............475 12. Totals..... .........XXX....... .........XXX....... .........XXX....... ..........2,120 .............270 ...............18 .................0 .............219 ...............11 ...............26 .............2,076 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 9. 1998.... ..............65 ................... ................6 ................... ................... ................... ................2 ................... ................1 ................... ................... ..................74 ................2 10. 1999.... ............160 ................... ............167 ..............23 ..............10 ................... ..............18 ................3 ................6 ................1 ................... ................334 ..............30 11. 2000.... ............668 ............144 ............768 ............131 ................4 ................1 ............190 ..............40 ..............63 ..............13 ................... .............1,364 ............149 12. Totals... ............893 ............144 ............941 ............154 ..............14 ................1 ............210 ..............43 ..............70 ..............14 ................0 .............1,772 ............181 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 9. 1998. .................262 .....................0 .................262 .............144.8 .................0.0 .............144.8 ........................ ........................ .............35.00 ...................71 .....................3 10. 1999. ..............1,306 ...................33 ..............1,273 .............119.1 ...............41.8 .............125.0 ........................ ........................ .............35.00 .................304 ...................30 11. 2000. ..............2,917 .................604 ..............2,313 .............128.2 .............129.6 .............127.9 ........................ ........................ .............35.00 ..............1,161 .................203 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ ..............1,536 .................236 75 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1D - WORKERS' COMPENSATION ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 8. 1997....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 9. 1998....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 10. 1999....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 11. 2000....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 12. Totals..... .........XXX....... .........XXX....... .........XXX....... .................0 .................0 .................0 .................0 .................0 .................0 .................0 ....................0 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 9. 1998.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 10. 1999.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 11. 2000.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 12. Totals... ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ....................0 ................0 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 9. 1998. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 10. 1999. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 11. 2000. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ .....................0 .....................0 76 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1E - COMMERCIAL MULTIPLE PERIL ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... ...............12 ....................0 .................... 8. 1997....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................2 ....................0 .................... 9. 1998....... .............6,207 ..................10 .............6,197 ..........1,978 ...............14 .............300 .................... .............199 .................1 ...............23 .............2,462 ..........1,325 10. 1999....... ...........14,489 ................662 ...........13,827 ..........6,179 .............109 .............241 .................... .............919 ...............24 ...............79 .............7,206 ..........1,182 11. 2000....... ...........19,660 .............2,280 ...........17,380 ..........5,453 .............704 ...............13 .................2 .............677 ...............56 .................3 .............5,381 ..........1,196 12. Totals..... .........XXX....... .........XXX....... .........XXX....... ........13,610 .............827 .............554 .................2 ..........1,795 ...............81 .............119 ...........15,049 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 9. 1998.... ............454 ................... ..............22 ................... ..............20 ................... ............132 ................... ..............44 ................... ................... ................672 ..............52 10. 1999.... .........1,349 ..............94 ............202 ..............13 ..............22 ................... ............569 ..............40 ............190 ..............13 ................... .............2,172 ............112 11. 2000.... .........3,011 ............297 .........2,782 ............365 ..............79 ..............10 .........1,561 ............185 ............520 ..............62 ................... .............7,034 ............340 12. Totals... .........4,814 ............391 .........3,006 ............378 ............121 ..............10 .........2,262 ............225 ............754 ..............75 ................0 .............9,878 ............504 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 9. 1998. ..............3,149 ...................15 ..............3,134 ...............50.7 .............150.0 ...............50.6 ........................ ........................ .............35.00 .................476 .................196 10. 1999. ..............9,671 .................293 ..............9,378 ...............66.7 ...............44.3 ...............67.8 ........................ ........................ .............35.00 ..............1,444 .................728 11. 2000. ............14,096 ..............1,681 ............12,415 ...............71.7 ...............73.7 ...............71.4 ........................ ........................ .............35.00 ..............5,131 ..............1,903 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ ..............7,051 ..............2,827 77 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. P-Pt. 1F-Sn. 1 NONE Sch. P-Pt. 1F-Sn. 2 NONE Sch. P-Pt. 1G NONE 78, 79, 80 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1H - SECTION 1 - OTHER LIABILITY - OCCURRENCE ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 8. 1997....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 ...............50 9. 1998....... .............3,673 ....................5 .............3,668 .............734 .................... .............195 .................... ...............93 .................... .................... .............1,022 .............555 10. 1999....... .............7,401 ................189 .............7,212 .............918 .................4 .............165 .................... .............327 .................3 .................8 .............1,403 .............482 11. 2000....... .............8,432 ................479 .............7,953 .............419 ...............11 .................5 .................... .............110 .................4 .................... ................519 .............354 12. Totals..... .........XXX....... .........XXX....... .........XXX....... ..........2,071 ...............15 .............365 .................0 .............530 .................7 .................8 .............2,944 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 9. 1998.... ............208 ................... ............622 ................1 ..............21 ................... ............290 ................1 ..............97 ................... ................... .............1,236 ..............48 10. 1999.... ............783 ................5 .........1,163 ..............39 ..............14 ................... ............836 ..............24 ............279 ................8 ................... .............2,999 ..............64 11. 2000.... ............787 ..............21 .........2,226 ............131 ..............13 ................1 .........1,141 ..............75 ............380 ..............25 ................... .............4,294 ............133 12. Totals... .........1,778 ..............26 .........4,011 ............171 ..............48 ................1 .........2,267 ............100 ............756 ..............33 ................0 .............8,529 ............245 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 9. 1998. ..............2,260 .....................2 ..............2,258 ...............61.5 ...............40.0 ...............61.6 ........................ ........................ .............35.00 .................829 .................407 10. 1999. ..............4,485 ...................83 ..............4,402 ...............60.6 ...............43.9 ...............61.0 ........................ ........................ .............35.00 ..............1,902 ..............1,097 11. 2000. ..............5,081 .................268 ..............4,813 ...............60.3 ...............55.9 ...............60.5 ........................ ........................ .............35.00 ..............2,861 ..............1,433 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ ..............5,592 ..............2,937 81 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1H - SECTION 2 - OTHER LIABILITY - CLAIMS-MADE ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 8. 1997....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 9. 1998....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 10. 1999....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 11. 2000....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 12. Totals..... .........XXX....... .........XXX....... .........XXX....... .................0 .................0 .................0 .................0 .................0 .................0 .................0 ....................0 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 9. 1998.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 10. 1999.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 11. 2000.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 12. Totals... ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ................0 ....................0 ................0 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 9. 1998. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 10. 1999. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 11. 2000. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ .....................0 .....................0 82 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1I - SPECIAL PROPERTY (FIRE, ALLIED LINES, INLAND MARINE, EARTHQUAKE, BURGLARY AND THEFT) ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... ........XXX........ ........XXX........ ........XXX........ ..............(45) .................... .................3 .................... .................1 .................... .................... .................(41) ......XXX....... 2. 1999..... .............1,838 ................101 .............1,737 .............949 ...............36 .................2 .................... ...............84 .................4 .................3 ................995 ......XXX....... 3. 2000..... .............1,970 ................166 .............1,804 .............917 ...............77 .................... .................... ...............79 .................4 .................2 ................915 ......XXX....... 4. Totals..... ........XXX........ ........XXX........ ........XXX........ ..........1,821 .............113 .................5 .................0 .............164 .................8 .................5 .............1,869 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ..............45 ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ..................45 ................1 2. 1999... ..............21 ................... ................... ................... ................... ................... ................5 ................1 ................2 ................... ................... ..................27 ................3 3. 2000... ............364 ..............85 ............164 ..............21 ..............10 ................1 ..............21 ................2 ................7 ................1 ................... ................456 ..............26 4. Totals... ............430 ..............85 ............164 ..............21 ..............10 ................1 ..............26 ................3 ................9 ................1 ................0 ................528 ..............30 34 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net Nontabular Discount 32 33 Loss Loss Expense Inter-Company Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ ...................45 .....................0 2. 1999 ..............1,063 ...................41 ..............1,022 ...............57.8 ...............40.6 ...............58.8 ........................ ........................ .............35.00 ...................21 .....................6 3. 2000 ..............1,562 .................191 ..............1,371 ...............79.3 .............115.1 ...............76.0 ........................ ........................ .............35.00 .................422 ...................34 4. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ .................488 ...................40 83 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1J - AUTO PHYSICAL DAMAGE ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed Ceded 3 Net (Cols. 1 - 2) Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... ........XXX........ ........XXX........ ........XXX........ ..............(38) .................... ...............14 .................... ...............11 .................... ...............47 ................(13) ......XXX...... 2. 1999..... .............1,311 ..................14 .............1,297 .............819 .................1 ...............18 .................... .............136 .................... ...............58 ...............972 ............546 3. 2000..... .............1,198 ................167 .............1,031 .............555 ...............68 .................... .................... ...............56 .................1 ...............20 ...............542 ............270 4. Totals..... ........XXX........ ........XXX........ ........XXX........ ..........1,336 ...............69 ...............32 .................0 .............203 .................1 .............125 ............1,501 ......XXX...... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior... ................1 ................... ................... ................... ................... ................... ................9 ................... ................3 ................... ................... ..................13 ................... 2. 1999.. ..............16 ................... .............(21) ................... ................3 ................... ................3 ................... ................1 ................... ................... ....................2 ................5 3. 2000.. ............139 ..............25 ............106 ..............14 ................1 ................... ..............26 ................5 ................9 ................2 ................... ................235 ..............33 4. Totals. ............156 ..............25 ..............85 ..............14 ................4 ................0 ..............38 ................5 ..............13 ................2 ................0 ................250 ..............38 34 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net Nontabular Discount 32 33 Loss Loss Expense Inter-Company Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................1 ...................12 2. 1999 .................975 .....................1 .................974 ...............74.4 .................7.1 ...............75.1 ........................ ........................ .............35.00 ...................(5) .....................7 3. 2000 .................892 .................115 .................777 ...............74.5 ...............68.9 ...............75.4 ........................ ........................ .............35.00 .................206 ...................29 4. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ .................202 ...................48 84 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. P-Pt. 1K NONE Sch. P-Pt. 1L NONE Sch. P-Pt. 1M NONE Sch. P-Pt. 1N NONE Sch. P-Pt. 1O NONE Sch. P-Pt. 1P NONE 85, 86, 87, 88, 89, 90 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 1R - SECTION 1 - PRODUCTS LIABILITY - OCCURRENCE ($000 omitted) Years in Which Premiums Were Earned and Losses Were Incurred Premiums Earned 2 1 Direct and Assumed 3 Net (Cols. 1 - 2) Ceded Loss Payments 4 5 Direct and Assumed Ceded Loss and Loss Expense Payments Defense and Cost Adjusting and Other Containment Payments Payments 6 7 8 9 Direct Direct and and Assumed Ceded Assumed Ceded 10 11 Salvage Total and Net Paid Subrogation (Cols. 4 - 5 + Received 6 - 7 + 8 - 9) 12 Number of Claims ReportedDirect and Assumed 1. Prior....... .........XXX....... .........XXX....... .........XXX....... .................... .................... .................... .................... .................... .................... .................... ....................0 ......XXX....... 2. 1991....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 3. 1992....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 4. 1993....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 5. 1994....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 6. 1995....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 7. 1996....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 8. 1997....... ....................... ....................... ....................0 .................... .................... .................... .................... .................... .................... .................... ....................0 .................1 9. 1998....... ................396 ....................... ................396 .................... .................... .................... .................... .................... .................... .................... ....................0 .................2 10. 1999....... ................838 ..................29 ................809 .................... .................... .................... .................... .................... .................... .................... ....................0 .................... 11. 2000....... ................995 ..................55 ................940 .................... .................... .................... .................... .................... .................... .................... ....................0 .................1 12. Totals..... .........XXX....... .........XXX....... .........XXX....... .................0 .................0 .................0 .................0 .................0 .................0 .................0 ....................0 ......XXX....... Losses Unpaid Case Basis 13 14 Direct and Assumed Ceded Bulk + IBNR 15 16 Direct and Assumed Ceded Defense and Cost Containment Unpaid Case Basis Bulk + IBNR 17 18 19 20 Direct Direct and and Assumed Ceded Assumed Ceded Adjusting and Other Unpaid 21 22 Direct and Assumed Ceded 23 Salvage and Subrogation Anticipated 24 Total Net Losses and Expenses Unpaid 25 Number of Claims OutstandingDirect and Assumed 1. Prior..... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 2. 1991.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 3. 1992.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 4. 1993.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 5. 1994.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 6. 1995.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 7. 1996.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 8. 1997.... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ................... ....................0 ................... 9. 1998.... ................... ................... ............156 ................... ................... ................... ..............73 ................... ..............24 ................... ................... ................253 ................... 10. 1999.... ................... ................... ............327 ................4 ................... ................... ............153 ................3 ..............51 ................1 ................... ................523 ................... 11. 2000.... ................3 ................... ............388 ..............15 ................... ................... ............184 ................8 ..............61 ................3 ................... ................610 ................1 12. Totals... ................3 ................0 ............871 ..............19 ................0 ................0 ............410 ..............11 ............136 ................4 ................0 .............1,386 ................1 26 Direct and Assumed Total Losses and Loss Expenses Incurred 27 28 Ceded Net Loss and Loss Expense Percentage (Incurred/Premiums Earned) 29 30 31 Direct and Assumed Ceded Net 32 Loss Nontabular Discount 34 33 Loss Expense InterCompany Pooling Participation Percentage Net Balance Sheet Reserves after Discount 35 36 Loss Losses Expenses Unpaid Unpaid 1. Prior. ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ ........................ ........................ ........XXX........ .....................0 .....................0 2. 1991. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 3. 1992. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 4. 1993. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 5. 1994. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 6. 1995. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 7. 1996. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 8. 1997. .....................0 .....................0 .....................0 .................0.0 .................0.0 .................0.0 ........................ ........................ ....................... .....................0 .....................0 9. 1998. .................253 .....................0 .................253 ...............63.9 .................0.0 ...............63.9 ........................ ........................ .............35.00 .................156 ...................97 10. 1999. .................531 .....................8 .................523 ...............63.4 ...............27.6 ...............64.6 ........................ ........................ .............35.00 .................323 .................200 11. 2000. .................636 ...................26 .................610 ...............63.9 ...............47.3 ...............64.9 ........................ ........................ .............35.00 .................376 .................234 12. Totals ........XXX......... ........XXX......... ........XXX......... ........XXX........ ........XXX........ ........XXX........ .....................0 .....................0 ........XXX........ .................855 .................531 91 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. P-Pt. 1R-Sn. 2 NONE Sch. P-Pt. 1S NONE 92, 93 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 2A - HOMEOWNERS/FARMOWNERS Years in Which Losses Were Incurred 1 1991 Incurred Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 Development 11 12 One Year Two Year 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2B - PRIVATE PASSENGER AUTO LIABILITY/MEDICAL 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .........10,529 .........10,255 .........10,506 .........10,238 .............(268) ...............(17) 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........9,838 .........10,167 .........10,230 ................63 ..............392 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........2,636 ...........2,670 ................34 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............793 .......XXX....... .......XXX....... 12. Totals .............(171) ..............375 SCHEDULE P - PART 2C - COMMERCIAL AUTO/TRUCK LIABILITY/MEDICAL 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ................97 ..............212 ..............253 ................41 ..............156 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............731 ...........1,153 ..............422 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........2,178 .......XXX....... .......XXX....... 12. Totals ..............463 ..............156 SCHEDULE P - PART 2D - WORKERS' COMPENSATION 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2E - COMMERCIAL MULTIPLE PERIL 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........3,579 ...........2,745 ...........2,892 ..............147 .............(687) 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........7,810 ...........8,306 ..............496 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .........11,336 .......XXX....... .......XXX....... 12. Totals 94 ..............643 .............(687) Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 2F - SECTION 1 - MEDICAL MALPRACTICE - OCCURRENCE Years in Which Losses Were Incurred 1 1991 Incurred Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 Development 11 12 10 One Year 2000 Two Year 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2F - SECTION 2 - MEDICAL MALPRACTICE - CLAIMS-MADE 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2G - SPECIAL LIABILITY (OCEAN MARINE, AIRCRAFT (ALL PERILS), BOILER & MACHINERY) 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2H - SECTION 1 - OTHER LIABILITY - OCCURRENCE 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........2,313 ...........1,890 ...........2,068 ..............178 .............(245) 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........3,803 ...........3,807 ..................4 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ...........4,352 .......XXX....... .......XXX....... 12. Totals ..............182 .............(245) SCHEDULE P - PART 2H - SECTION 2 - OTHER LIABILITY - CLAIMS-MADE 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals 95 ..................0 ..................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 2I - SPECIAL PROPERTY (FIRE, ALLIED LINES, INLAND MARINE, EARTHQUAKE, BURGLARY AND THEFT) Years in Which Losses Were Incurred 1 1991 Incurred Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 10 1999 2000 Development 11 12 One Year Two Year 1. Prior..... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..............344 ..............107 ..............104 .................(3) .............(240) 2. 1999.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..............938 ..............940 ..................2 ......XXX........ 3. 2000.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ...........1,290 ......XXX........ ......XXX........ 4. Totals .................(1) .............(240) SCHEDULE P - PART 2J - AUTO PHYSICAL DAMAGE 1. Prior..... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..............377 ..............296 ..............269 ...............(27) .............(108) 2. 1999.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..............900 ..............837 ...............(63) ......XXX........ 3. 2000.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..............715 ......XXX........ ......XXX........ 4. Totals ...............(90) .............(108) SCHEDULE P - PART 2K - FIDELITY, SURETY 1. Prior..... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................... ..................0 ..................0 2. 1999.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................0 ......XXX........ 3. 2000.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ......XXX........ ......XXX........ 4. Totals ..................0 ..................0 SCHEDULE P - PART 2L - OTHER (INCLUDING CREDIT, ACCIDENT AND HEALTH) 1. Prior..... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................... ..................0 ..................0 2. 1999.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................0 ......XXX........ 3. 2000.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ......XXX........ ......XXX........ 4. Totals ..................0 ..................0 SCHEDULE P - PART 2M - INTERNATIONAL 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... ......XXX........ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... ......XXX........ ......XXX........ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................... ..................0 ..................0 10. 1999.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ..................... ..................0 ......XXX........ 11. 2000.... ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ......XXX........ ..................... ......XXX........ ......XXX........ 12. Totals 96 ..................0 ..................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 2N - REINSURANCE A NONPROPORTIONAL ASSUMED PROPERTY Years in Which Losses Were Incurred 1 1991 Incurred Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 Development 11 12 One Year Two Year 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2O - REINSURANCE B NONPROPORTIONAL ASSUMED LIABILITY 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2P - REINSURANCE C NONPROPORTIONAL ASSUMED FINANCIAL LINES 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals 97 ..................0 ..................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 2R-SECTION 1 - PRODUCTS LIABILITY - OCCURRENCE Years in Which Losses Were Incurred 1 1991 Incurred Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 Development 11 12 One Year Two Year 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............204 ..............238 ..............229 .................(9) ................25 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............501 ..............473 ...............(28) .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............552 .......XXX....... .......XXX....... 12. Totals ...............(37) ................25 SCHEDULE P - PART 2R-SECTION 2 - PRODUCTS LIABILITY - CLAIMS-MADE 1. Prior..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................0 ..................0 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 12. Totals ..................0 ..................0 SCHEDULE P - PART 2S - FINANCIAL GUARANTY/MORTGAGE GUARANTY 1. Prior..... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................0 ..................0 2. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................0 .......XXX....... 3. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 4. Totals 98 ..................0 ..................0 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 3A - HOMEOWNERS/FARMOWNERS Years in Which Losses Were Incurred 1. Prior..... 2. 1991.... 3. 1992.... 4. 1993.... 5. 1994.... 6. 1995.... 7. 1996.... 8. 1997.... 9. 1998.... 10. 1999.... 11. 2000.... 1 1991 ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... Cumulative Paid Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1993 ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1994 ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1995 ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1996 ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1997 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... 1998 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 1999 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... 10 2000 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 11 Number of Claims Closed With Loss Payment ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 12 Number of Claims Closed Without Loss Payment ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... SCHEDULE P - PART 3B - PRIVATE PASSENGER AUTO LIABILITY/MEDICAL 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........2,528 .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........7,396 ...........4,610 .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........9,120 ...........8,158 ...........1,049 .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........9,863 ...........9,179 ...........1,901 ..............423 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........2,310 ...........2,813 ..............506 ..............126 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........2,049 ...........2,694 ..............707 ................95 SCHEDULE P - PART 3C - COMMERCIAL AUTO/TRUCK LIABILITY/MEDICAL 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ................14 .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............142 ..............404 .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............180 ..............824 ..............864 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................1 ................42 ..............218 ..............232 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ................21 ................88 ................94 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............732 ..............644 ..............553 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............541 ..............426 ..............303 SCHEDULE P - PART 3D - WORKERS' COMPENSATION ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... SCHEDULE P - PART 3E - COMMERCIAL MULTIPLE PERIL ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 99 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............873 .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........1,779 ...........3,872 .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........2,264 ...........6,311 ...........4,760 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 3F - SECTION 1 - MEDICAL MALPRACTICE - OCCURRENCE Cumulative Paid Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 1 2 3 4 5 6 7 8 9 10 Years in 11 12 Number of Number of Claims Claims Which Closed Closed Losses Were With Loss Without Loss Payment ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... Payment ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... Incurred 1. Prior..... 2. 1991.... 3. 1992.... 4. 1993.... 5. 1994.... 6. 1995.... 7. 1996.... 8. 1997.... 9. 1998.... 10. 1999.... 11. 2000.... 1991 ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1992 ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1993 ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1994 ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1995 ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1996 ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1997 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... 1998 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 1999 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... 2000 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... SCHEDULE P - PART 3F - SECTION 2 - MEDICAL MALPRACTICE - CLAIMS-MADE 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... SCHEDULE P - PART 3G - SPECIAL LIABILITY (OCEAN MARINE, AIRCRAFT (ALL PERILS), BOILER AND MACHINERY) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Prior..... 1991.... 1992.... 1993.... 1994.... 1995.... 1996.... 1997.... 1998.... 1999.... 2000.... ........000....... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... SCHEDULE P - PART 3H - SECTION 1 - OTHER LIABILITY - OCCURRENCE ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............109 .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............492 ..............434 .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..............929 ...........1,079 ..............413 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ................30 ..............239 ..............219 ..............126 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ................20 ..............268 ..............199 ................95 SCHEDULE P - PART 3H - SECTION 2 - OTHER LIABILITY - CLAIMS-MADE ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... .......XXX....... 100 ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 3I - SPECIAL PROPERTY (FIRE, ALLIED LINES, INLAND MARINE, EARTHQUAKE, BURGLARY AND THEFT) Years in Which Losses Were Incurred 1 1991 Cumulative Paid Net Losses and Defense and Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 11 Number of Claims Closed With Loss Payment 12 Number of Claims Closed Without Loss Payment 1. Prior..... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ........000....... ..............101 ................59 .......XXX....... .......XXX....... 2. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............681 ..............915 .......XXX....... .......XXX....... 3. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............840 .......XXX....... .......XXX....... SCHEDULE P - PART 3J - AUTO PHYSICAL DAMAGE 1. Prior..... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ........000....... ..............283 ..............259 ...........2,033 ...........1,164 2. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............734 ..............836 ..............293 ..............248 3. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..............487 ..............165 ................72 SCHEDULE P - PART 3K - FIDELITY/SURETY 1. Prior..... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ........000....... ..................... ..................... .......XXX....... .......XXX....... 2. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... .......XXX....... .......XXX....... 3. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... SCHEDULE P - PART 3L - OTHER (INCLUDING CREDIT, ACCIDENT AND HEALTH) 1. Prior..... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ........000....... ..................... ..................... .......XXX....... .......XXX....... 2. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... .......XXX....... .......XXX....... 3. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... SCHEDULE P - PART 3M - INTERNATIONAL 1. Prior..... ........000....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... .......XXX....... .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 101 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 3N - REINSURANCE A NONPROPORTIONAL ASSUMED PROPERTY Years in Which Losses Were Incurred 1 1991 Cumulative Paid Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 11 Number of Claims Closed With Loss Payment 12 Number of Claims Closed Without Loss Payment 1. Prior..... .......000........ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... .......XXX....... .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... SCHEDULE P - PART 3O - REINSURANCE B NONPROPORTIONAL ASSUMED LIABILITY 1. Prior..... .......000........ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... .......XXX....... .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... SCHEDULE P - PART 3P - REINSURANCE C NONPROPORTIONAL ASSUMED FINANCIAL LINES 1. Prior..... .......000........ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... .......XXX....... .......XXX....... 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... .......XXX....... .......XXX....... 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... .......XXX....... .......XXX....... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 102 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 3R-SECTION 1 - PRODUCTS LIABILITY - OCCURRENCE Years in Which Losses Were Incurred 1 1991 Cumulative Paid Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 11 Number of Claims Closed With Loss Payment 12 Number of Claims Closed Without Loss Payment 1. Prior..... ........000....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................1 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................1 ..................1 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... SCHEDULE P - PART 3R-SECTION 2 - PRODUCTS LIABILITY- CLAIMS-MADE 1. Prior..... ........000....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 2. 1991.... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 3. 1992.... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 4. 1993.... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 5. 1994.... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 6. 1995.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 7. 1996.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... ..................... 8. 1997.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... ..................... 9. 1998.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... ..................... 10. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... ..................... 11. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... ..................... SCHEDULE P - PART 3S - FINANCIAL GUARANTY/MORTGAGE GUARANTY 1. Prior..... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ........000....... ..................... ..................... .......XXX....... .......XXX....... 2. 1999.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... ..................... .......XXX....... .......XXX....... 3. 2000.... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... .......XXX....... ..................... .......XXX....... .......XXX....... 103 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 4A - HOMEOWNERS/FARMOWNERS Years in Which Losses Were Incurred 1 1991 Bulk and IBNR Reserves on Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4B - PRIVATE PASSENGER AUTO LIABILITY/MEDICAL 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............5,227 ...............1,421 ..................858 ..................209 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............2,925 ...............1,253 ..................784 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............1,143 ..................495 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................107 SCHEDULE P - PART 4C - COMMERCIAL AUTO/TRUCK LIABILITY/MEDICAL 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ....................83 ......................... ......................8 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................104 ..................159 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................787 SCHEDULE P - PART 4D - WORKERS' COMPENSATION 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4E - COMMERCIAL MULTIPLE PERIL 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............1,625 ..................444 ..................154 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............2,065 ..................718 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............3,793 104 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 4F - SECTION 1 - MEDICAL MALPRACTICE - OCCURRENCE Years in Which Losses Were Incurred 1 1991 Bulk and IBNR Reserves on Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4F - SECTION 2 - MEDICAL MALPRACTICE - CLAIMS-MADE 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4G - SPECIAL LIABILITY (OCEAN MARINE, AIRCRAFT (ALL PERILS), BOILER AND MACHINERY) 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4H - SECTION 1 - OTHER LIABILITY - OCCURRENCE 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............1,838 ..................912 ..................910 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............2,723 ...............1,936 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ...............3,161 SCHEDULE P - PART 4H - SECTION 2 - OTHER LIABILITY - CLAIMS-MADE 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... 105 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 4I - SPECIAL PROPERTY (FIRE, ALLIED LINES, INLAND MARINE, EARTHQUAKE, BURGLARY AND THEFT) Years in Which Losses Were Incurred 1 1991 Bulk and IBNR Reserves on Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior.............. ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................132 ......................... ......................... 2. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ....................99 ......................4 3. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................162 SCHEDULE P - PART 4J - AUTO PHYSICAL DAMAGE 1. Prior.............. ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................256 ......................2 ......................9 2. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ....................73 ..................(18) 3. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................113 SCHEDULE P - PART 4K - FIDELITY/SURETY 1. Prior.............. ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 2. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 3. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4L - OTHER (INCLUDING CREDIT, ACCIDENT AND HEALTH) 1. Prior.............. ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 2. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 3. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4M - INTERNATIONAL 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... 106 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 4N - REINSURANCE A NONPROPORTIONAL ASSUMED PROPERTY Years in Which Losses Were Incurred 1 1991 Bulk and IBNR Reserves on Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4O - REINSURANCE B NONPROPORTIONAL ASSUMED LIABILITY 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4P - REINSURANCE C NONPROPORTIONAL ASSUMED FINANCIAL LINES 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... 107 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 4R-SECTION 1 - PRODUCTS LIABILITY - OCCURRENCE Years in Which Losses Were Incurred 1 1991 Bulk and IBNR Reserves on Net Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................204 ..................238 ..................229 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................501 ..................473 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ..................549 SCHEDULE P - PART 4R-SECTION 2 - PRODUCTS LIABILITY - CLAIMS-MADE 1. Prior.............. ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 2. 1991............ ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 3. 1992............ ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 4. 1993............ ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 5. 1994............ ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... ......................... 6. 1995............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... ......................... 7. 1996............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... ......................... 8. 1997............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... ......................... 9. 1998............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 10. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 11. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... SCHEDULE P - PART 4S - FINANCIAL GUARANTY/MORTGAGE GUARANTY 1. Prior.............. ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... ......................... 2. 1999............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... ......................... 3. 2000............ ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ........XXX.......... ......................... 108 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5A - HOMEOWNERS/FARMOWNERS SECTION 1 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 2 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 3 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ 109 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5B - PRIVATE PASSENGER AUTO LIABILITY/MEDICAL SECTION 1 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................906 ..............2,099 ..............2,290 ..............2,310 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............1,925 ..............2,800 ..............2,813 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................428 .................506 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................126 SECTION 2 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................991 .................303 .................100 ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............1,299 .................176 ...................25 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................183 ...................47 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ...................77 SECTION 3 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............2,793 ..............4,372 ..............4,419 ..............4,359 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............5,225 ..............5,657 ..............5,532 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............1,233 ..............1,260 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................298 110 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5C - COMMERCIAL AUTO/TRUCK LIABILITY/MEDICAL SECTION 1 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ .....................1 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ...................16 ...................41 ...................42 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................127 .................218 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................232 SECTION 2 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ...................11 .....................3 .....................2 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ...................79 ...................30 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................149 SECTION 3 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ .....................1 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ...................39 ...................62 ...................65 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................262 .................336 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................475 111 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5D - WORKERS' COMPENSATION SECTION 1 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 2 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 3 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ 112 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5E - COMMERCIAL MULTIPLE PERIL SECTION 1 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................544 .................713 .................732 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................434 .................644 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................553 SECTION 2 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................311 ...................45 ...................52 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................288 .................112 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................340 SECTION 3 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............1,214 ..............1,280 ..............1,325 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............1,004 ..............1,182 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ..............1,196 113 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. P-Pt. 5F-Sn. 1A NONE Sch. P-Pt. 5F-Sn. 2A NONE Sch. P-Pt. 5F-Sn. 3A NONE Sch. P-Pt. 5F-Sn. 1B NONE Sch. P-Pt. 5F-Sn. 2B NONE Sch. P-Pt. 5F-Sn. 3B NONE 114, 115 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5H - OTHER LIABILITY - OCCURRENCE SECTION 1A Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ...................30 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................140 .................226 .................239 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................141 .................219 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................126 SECTION 2A Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................172 ...................35 ...................48 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................137 ...................64 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................133 SECTION 3A Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ...................50 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................470 .................516 .................555 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................392 .................482 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .................354 116 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5H - OTHER LIABILITY - CLAIMS-MADE SECTION 1B Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 2B Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 3B Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ 117 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5R - PRODUCTS LIABILITY - OCCURRENCE SECTION 1A Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .....................1 .....................1 .....................1 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 2A Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .....................1 SECTION 3A Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ .....................1 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .....................2 .....................2 .....................2 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... .....................1 118 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 5R - PRODUCTS LIABILITY - CLAIMS-MADE SECTION 1B Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Number of Claims Closed with Loss Payment Direct and Assumed at Year End 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 2B Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Number of Claims Outstanding Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 3B Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 1991 1992 1993 Cumulative Number of Claims Reported Direct and Assumed at Year End 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991................... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992................... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993................... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994................... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000................... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ 119 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 6C - COMMERCIAL AUTO/TRUCK LIABILITY/MEDICAL SECTION 1 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Premiums Earned Direct and Assumed at Year End ($000 omitted) 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 11 Current Year Premiums Earned 1. Prior................................................ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 2. 1991.............................................. ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 3. 1992.............................................. .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................... ..................... ..................... 4. 5. 6. 7. 8. 1993.............................................. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 9. 10. 11. 12. 13. 1998.............................................. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..............181 .........XXX..... .........XXX..... .........XXX..... ..............181 ..............181 ...........1,097 .........XXX..... .........XXX..... ...........1,097 ..............181 ...........1,097 ...........2,275 .........XXX..... ...........2,275 ..................... ..................... ...........2,275 ...........2,275 ...........XXX... Years in Which Premiums 1 2 3 8 9 10 Were Earned and Losses Were Incurred 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1. Prior................................................ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 2. 1991.............................................. ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 3. 1992.............................................. .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 11 Current Year Premiums Earned ..................... ..................... ..................... 4. 5. 6. 7. 8. 1993.............................................. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 9. 10. 11. 12. 13. 1998.............................................. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ................79 .........XXX..... .........XXX..... ................79 ..................0 ................79 ..............466 .........XXX..... ..............466 ..................... ..................... ..............466 ..............466 ...........XXX... 9 10 SECTION 2 Cumulative Premiums Earned Ceded at Year End ($000 omitted) 4 5 6 7 SCHEDULE P - PART 6D - WORKERS' COMPENSATION SECTION 1 Cumulative Premiums Earned Direct and Assumed at Year End ($000 omitted) 3 4 5 6 7 8 1 2 1. 2. 3. 4. Years in Which Premiums Were Earned and Losses Were Incurred Prior................................................ 1991.............................................. 1992.............................................. 1993.............................................. 1991 ..................... ..................... .........XXX..... .........XXX..... 1992 ..................... ..................... ..................... .........XXX..... 1993 ..................... ..................... ..................... ..................... 1994 ..................... ..................... ..................... ..................... 1995 ..................... ..................... ..................... ..................... 1996 ..................... ..................... ..................... ..................... 1997 ..................... ..................... ..................... ..................... 1998 ..................... ..................... ..................... ..................... 1999 ..................... ..................... ..................... ..................... 2000 ..................0 ..................0 ..................0 ..................0 11 Current Year Premiums Earned ..................... ..................... ..................... ..................... 5. 6. 7. 8. 9. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. 1998.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 10. 11. 12. 13. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................0 ..................0 .........XXX..... ..................... ..................... ..................... ..................0 ...........XXX... 9 10 SECTION 2 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 11 Current Year Premiums Earned 1. 2. 3. 4. 5. Prior................................................ 1991.............................................. 1992.............................................. 1993.............................................. 1994.............................................. ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 6. 7. 8. 9. 10. 11. 1995.............................................. 1996.............................................. 1997.............................................. 1998.............................................. 1999.............................................. 2000.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... ..................... .........XXX..... ..................0 ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... ..................... Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 Cumulative Premiums Earned Ceded at Year End ($000 omitted) 4 5 6 7 8 12. Total............................................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................0 13. Earned Premiums (Sch. P-Pt 1)...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........XXX... 120 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 6E - COMMERCIAL MULTIPLE PERIL SECTION 1 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Premiums Earned Direct and Assumed at Year End ($000 omitted) 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 11 Current Year Premiums Earned 1. Prior................................................ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 2. 1991.............................................. ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 3. 1992.............................................. .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................... ..................... ..................... 4. 5. 6. 7. 8. 1993.............................................. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 9. 10. 11. 12. 13. 1998.............................................. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ...........6,207 .........XXX..... .........XXX..... .........XXX..... ...........6,207 ...........6,207 .........14,489 .........XXX..... .........XXX..... .........14,489 ...........6,207 .........14,489 .........19,661 .........XXX..... .........19,660 ..................... ..................... .........19,661 .........19,661 ...........XXX... Years in Which Premiums 1 2 3 8 9 10 Were Earned and Losses Were Incurred 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1. Prior................................................ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 2. 1991.............................................. ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 3. 1992.............................................. .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 11 Current Year Premiums Earned ..................... ..................... ..................... 4. 5. 6. 7. 8. 1993.............................................. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 9. 10. 11. 12. 13. 1998.............................................. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ................10 .........XXX..... .........XXX..... .........XXX..... ................10 ................10 ..............662 .........XXX..... .........XXX..... ..............662 ................10 ..............662 ...........2,280 .........XXX..... ...........2,280 ..................... ..................... ...........2,280 ...........2,280 ...........XXX... SECTION 2 Cumulative Premiums Earned Ceded at Year End ($000 omitted) 4 5 6 7 SCHEDULE P - PART 6H - OTHER LIABILITY - OCCURRENCE SECTION 1A Cumulative Premiums Earned Direct and Assumed at Year End ($000 omitted) 3 4 5 6 7 8 9 10 1998 ..................... ..................... ..................... ..................... 1999 ..................... ..................... ..................... ..................... 2000 ..................0 ..................0 ..................0 ..................0 11 Current Year Premiums Earned ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ...........3,673 ..................... ..................... ..................... ..................... ...........3,673 ..................0 ..................0 ..................0 ..................0 ...........3,673 ..................... ..................... ..................... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ...........3,673 ...........7,401 .........XXX..... .........XXX..... ...........7,401 ...........7,401 ...........8,431 .........XXX..... ...........8,432 ..................... ...........8,431 ...........8,431 ...........XXX... 9 10 1 2 1. 2. 3. 4. Years in Which Premiums Were Earned and Losses Were Incurred Prior................................................ 1991.............................................. 1992.............................................. 1993.............................................. 1991 ..................... ..................... .........XXX..... .........XXX..... 1992 ..................... ..................... ..................... .........XXX..... 1993 ..................... ..................... ..................... ..................... 1994 ..................... ..................... ..................... ..................... 1995 ..................... ..................... ..................... ..................... 1996 ..................... ..................... ..................... ..................... 1997 ..................... ..................... ..................... ..................... 5. 6. 7. 8. 9. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. 1998.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... 10. 11. 12. 13. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... SECTION 2A 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 11 Current Year Premiums Earned 1. 2. 3. 4. 5. Prior................................................ 1991.............................................. 1992.............................................. 1993.............................................. 1994.............................................. ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 6. 7. 8. 9. 10. 11. 1995.............................................. 1996.............................................. 1997.............................................. 1998.............................................. 1999.............................................. 2000.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................5 .........XXX..... .........XXX..... ..................... ..................... ..................... ..................5 ..............189 .........XXX..... ..................0 ..................0 ..................0 ..................5 ..............189 ..............479 ..................... ..................... ..................... ..................... ..................... ..............479 Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 Cumulative Premiums Earned Ceded at Year End ($000 omitted) 4 5 6 7 8 12. Total............................................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..............479 13. Earned Premiums (Sch. P-Pt 1)...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................5 121 ..............189 ..............479 ...........XXX... Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY Sch. P-Pt. 6H-Sn. 1B NONE Sch. P-Pt. 6H-Sn. 2B NONE Sch. P-Pt. 6M-Sn. 1 NONE Sch. P-Pt. 6M-Sn. 2 NONE Sch. P-Pt. 6N-Sn. 1 NONE Sch. P-Pt. 6N-Sn. 2 NONE Sch. P-Pt. 6O-Sn. 1 NONE Sch. P-Pt. 6O-Sn. 2 NONE 122, 123 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 6R - PRODUCTS LIABILITY - OCCURRENCE SECTION 1A Years in Which Premiums Were Earned and Losses Were Incurred 1 2 1991 1992 Cumulative Premiums Earned Direct and Assumed at Year End ($000 omitted) 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 11 Current Year Premiums Earned 1. Prior................................................ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 2. 1991.............................................. ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 3. 1992.............................................. .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................... ..................... ..................... 4. 5. 6. 7. 8. 1993.............................................. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 9. 10. 11. 12. 13. 1998.............................................. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..............396 .........XXX..... .........XXX..... .........XXX..... ..............396 ..............396 ..............838 .........XXX..... .........XXX..... ..............838 ..............396 ..............838 ..............995 .........XXX..... ..............995 ..................... ..................... ..............995 ..............995 ...........XXX... Years in Which Premiums 1 2 3 8 9 10 Were Earned and Losses Were Incurred 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 1. Prior................................................ ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 2. 1991.............................................. ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 3. 1992.............................................. .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 11 Current Year Premiums Earned ..................... ..................... ..................... 4. 5. 6. 7. 8. 1993.............................................. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 9. 10. 11. 12. 13. 1998.............................................. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ................29 .........XXX..... .........XXX..... ................29 ..................0 ................29 ................55 .........XXX..... ................55 ..................... ..................... ................55 ................55 ...........XXX... SECTION 2A Cumulative Premiums Earned Ceded at Year End ($000 omitted) 4 5 6 7 SCHEDULE P - PART 6R - PRODUCTS LIABILITY - CLAIMS-MADE SECTION 1B Cumulative Premiums Earned Direct and Assumed at Year End ($000 omitted) 3 4 5 6 7 8 9 10 1998 ..................... ..................... ..................... ..................... 1999 ..................... ..................... ..................... ..................... 2000 ..................0 ..................0 ..................0 ..................0 11 Current Year Premiums Earned ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................0 ..................0 .........XXX..... ..................... ..................... ..................... ..................0 ...........XXX... 9 10 1 2 1. 2. 3. 4. Years in Which Premiums Were Earned and Losses Were Incurred Prior................................................ 1991.............................................. 1992.............................................. 1993.............................................. 1991 ..................... ..................... .........XXX..... .........XXX..... 1992 ..................... ..................... ..................... .........XXX..... 1993 ..................... ..................... ..................... ..................... 1994 ..................... ..................... ..................... ..................... 1995 ..................... ..................... ..................... ..................... 1996 ..................... ..................... ..................... ..................... 1997 ..................... ..................... ..................... ..................... 5. 6. 7. 8. 9. 1994.............................................. 1995.............................................. 1996.............................................. 1997.............................................. 1998.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... 10. 11. 12. 13. 1999.............................................. 2000.............................................. Total............................................... Earned Premiums (Sch. P-Pt 1)...... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... SECTION 2B 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 11 Current Year Premiums Earned 1. 2. 3. 4. 5. Prior................................................ 1991.............................................. 1992.............................................. 1993.............................................. 1994.............................................. ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... 6. 7. 8. 9. 10. 11. 1995.............................................. 1996.............................................. 1997.............................................. 1998.............................................. 1999.............................................. 2000.............................................. .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... .........XXX..... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... .........XXX..... .........XXX..... ..................... ..................... ..................... ..................... ..................... .........XXX..... ..................0 ..................0 ..................0 ..................0 ..................0 ..................0 ..................... ..................... ..................... ..................... ..................... ..................... Years in Which Premiums Were Earned and Losses Were Incurred 1 2 3 Cumulative Premiums Earned Ceded at Year End ($000 omitted) 4 5 6 7 8 12. Total............................................... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... .........XXX..... ..................0 13. Earned Premiums (Sch. P-Pt 1)...... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ..................... ...........XXX... 124 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 7A - PRIMARY LOSS SENSITIVE CONTRACTS 1 Total Net Losses and Expenses Unpaid Schedule P - Part 1 ($000 Omitted) SECTION 1 2 Net Losses and Expenses Unpaid on Loss Sensitive Contracts 3 Loss Sensitive as Percentage of Total 4 5 6 Total Net Premiums Written Net Premiums Written on Loss Sensitive Contracts Loss Sensitive as Percentage of Total 1. Homeowners/farmowners........................................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 2. Private passenger auto liability/medical................................... ....................2,646 .............................. ........................0.0 .......................762 .............................. ........................0.0 3. Commercial auto/truck liability/medical.................................... ....................1,772 .............................. ........................0.0 ....................2,317 .............................. ........................0.0 4. Workers' compensation........................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 5. Commercial multiple peril........................................................ ....................9,878 .............................. ........................0.0 ..................18,711 .............................. ........................0.0 6. Medical malpractice - occurrence............................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 7. Medical malpractice - claims-made......................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 8. Special liability........................................................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 9. Other liability - occurrence....................................................... ....................8,529 .............................. ........................0.0 ....................8,266 .............................. ........................0.0 10. Other liability - claims-made.................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 11. Special property...................................................................... .......................528 .............................. ........................0.0 ....................1,849 .............................. ........................0.0 12. Auto physical damage............................................................. .......................250 .............................. ........................0.0 ....................1,121 .............................. ........................0.0 13. Fidelity/surety.......................................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 14. Other....................................................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 15. International............................................................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 16. Reinsurance A - Nonproportional Assumed Property............... ............XXX........... ............XXX........... ............XXX........... ............XXX........... ............XXX........... ............XXX........... 17. Reinsurance B - Nonproportional Assumed Liability................ ............XXX........... ............XXX........... ............XXX........... ............XXX........... ............XXX........... ............XXX........... 18. Reinsurance C - Nonproportional Assumed Financial Lines.... ............XXX........... ............XXX........... ............XXX........... ............XXX........... ............XXX........... ............XXX........... 19. Products liability - occurrence.................................................. ....................1,386 .............................. ........................0.0 ....................1,012 .............................. ........................0.0 20. Products liability - claims-made............................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 21. Financial guaranty/mortgage guaranty..................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 22. Totals...................................................................................... ..................24,989 ...........................0 ........................0.0 ..................34,038 ...........................0 ........................0.0 SECTION 2 Years in Which Policies Were Issued 1 2 1991 1992 Incurred Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior............. ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991........... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992........... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993........... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994........... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 3 Years in Which Policies Were Issued 1 1991 Bulk and Incurred But Not Reported Reserves for Losses and Defense and Cost Containment Expenses at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior............. ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991........... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992........... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993........... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994........... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ 125 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 7A - PRIMARY LOSS SENSITIVE CONTRACTS (continued) SECTION 4 Years in Which Policies Were Issued 1 2 3 1991 1992 1993 NET EARNED PREMIUMS REPORTED AT YEAR END ($000 OMITTED) 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior............. ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991........... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992........... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993........... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994........... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ SECTION 5 Years in Which Policies Were Issued 1 1991 NET RESERVE FOR PREMIUM ADJUSTMENTS AND ACCRUED RETROSPECTIVE PREMIUMS AT YEAR END ($000 OMITTED) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior............. ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 2. 1991........... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 3. 1992........... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 4. 1993........... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ ........................ 5. 1994........... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ ........................ 6. 1995........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ ........................ 7. 1996........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ ........................ 8. 1997........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ ........................ 9. 1998........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ ........................ 10. 1999........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ ........................ 11. 2000........... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........XXX......... ........................ 126 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 7B - REINSURANCE LOSS SENSITIVE CONTRACTS ($000 Omitted) SECTION 1 1 2 Net Losses and Expenses Unpaid on Loss Sensitive Contracts Total Net Losses and Expenses Unpaid Schedule P - Part 1 3 Loss Sensitive as Percentage of Total 4 5 6 Total Net Premiums Written Net Premiums Written on Loss Sensitive Contracts Loss Sensitive as Percentage of Total 1. Homeowners/farmowners........................................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 2. Private passenger auto liability/medical................................... ....................2,646 .............................. ........................0.0 .......................762 .............................. ........................0.0 3. Commercial auto/truck liability/medical.................................... ....................1,772 .............................. ........................0.0 ....................2,317 .............................. ........................0.0 4. Workers' compensation........................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 5. Commercial multiple peril........................................................ ....................9,878 .............................. ........................0.0 ..................18,711 .............................. ........................0.0 6. Medical malpractice - occurrence............................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 7. Medical malpractice - claims-made......................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 8. Special liability........................................................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 9. Other liability - occurrence....................................................... ....................8,529 .............................. ........................0.0 ....................8,266 .............................. ........................0.0 10. Other liability - claims-made.................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 11. Special property...................................................................... .......................528 .............................. ........................0.0 ....................1,849 .............................. ........................0.0 12. Auto physical damage............................................................. .......................250 .............................. ........................0.0 ....................1,121 .............................. ........................0.0 13. Fidelity/surety.......................................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 14. Other....................................................................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 15. International............................................................................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 16. Reinsurance A - Nonproportional Assumed Property............... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 17. Reinsurance B - Nonproportional Assumed Liability................ .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 18. Reinsurance C - Nonproportional Assumed Financial Lines.... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 19. Products liability - occurrence.................................................. ....................1,386 .............................. ........................0.0 ....................1,012 .............................. ........................0.0 20. Products liability - claims-made............................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 21. Financial guaranty/mortgage guaranty..................................... .............................. .............................. ........................0.0 .............................. .............................. ........................0.0 22. Totals ..................24,989 ...........................0 ........................0.0 ..................34,038 ...........................0 ........................0.0 SECTION 2 Years in Which Policies Were Issued 1 2 1991 1992 Incurred Losses and Defense and Cost Containment Expenses Reported at Year End ($000 omitted) 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 2. 1991......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 3. 1992......................... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 4. 1993......................... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 5. 1994......................... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 6. 1995......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... 7. 1996......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... 8. 1997......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... 9. 1998......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... 10. 1999......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... 11. 2000......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... SECTION 3 Years in Which Policies Were Issued 1 1991 Bulk and Incurred But Not Reported Reserves for Losses and Defense and Cost Containment Expenses at Year End ($000 omitted) 2 3 4 5 6 7 8 9 1992 1993 1994 1995 1996 1997 1998 1999 10 2000 1. Prior.......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 2. 1991......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 3. 1992......................... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 4. 1993......................... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 5. 1994......................... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 6. 1995......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... 7. 1996......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... 8. 1997......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... 9. 1998......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... 10. 1999......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... 11. 2000......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... 127 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P - PART 7B - REINSURANCE LOSS SENSITIVE CONTRACTS (continued) SECTION 4 Years in Which Policies Were Issued 1 2 3 1991 1992 1993 Net Earned Premiums Reported At Year End ($000 Omitted) 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 2. 1991......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 3. 1992......................... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 4. 1993......................... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 5. 1994......................... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 6. 1995......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... 7. 1996......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... 8. 1997......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... 9. 1998......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... 10. 1999......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... 11. 2000......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... SECTION 5 Years in Which Policies Were Issued 1 2 1991 1992 Net Reserve For Premium Adjustments And Accrued Retrospective Premiums At Year End ($000 Omitted) 3 4 5 6 7 8 1993 1994 1995 1996 1997 1998 9 10 1999 2000 1. Prior.......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 2. 1991......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 3. 1992......................... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 4. 1993......................... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 5. 1994......................... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 6. 1995......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... 7. 1996......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... 8. 1997......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... 9. 1998......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... 10. 1999......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... 11. 2000......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... SECTION 6 Years in Which Policies Were Issued 1 2 3 1991 1992 1993 Incurred Adjustable Commissions Reported At Year End ($000 Omitted) 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 2. 1991......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 3. 1992......................... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 4. 1993......................... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 5. 1994......................... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 6. 1995......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... 7. 1996......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... 8. 1997......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... 9. 1998......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... 10. 1999......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... 11. 2000......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... SECTION 7 Years in Which Policies Were Issued 1 2 3 1991 1992 1993 Reserves For Commission Adjustments At Year End ($000 Omitted) 4 5 6 7 1994 1995 1996 1997 8 9 10 1998 1999 2000 1. Prior.......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 2. 1991......................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 3. 1992......................... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 4. 1993......................... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 5. 1994......................... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... ....................... 6. 1995......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... ....................... 7. 1996......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... ....................... 8. 1997......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... ....................... 9. 1998......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... ....................... 10. 1999......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... ....................... 11. 2000......................... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... .........XXX....... ....................... 128 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE P INTERROGATORIES 1. Computation of excess statutory reserves over statement reserves a. Auto Liability (private passenger and commercial) 2000 $ ..........................0 ...............60.0 % 1999 $ ..........................0 ...............60.0 % 1998 $ ..........................0 ...............60.0 % Total $ ............................0 1999 $ ..........................0 ...............60.0 % 1998 $ ..........................0 ...............60.0 % Total $ ............................0 1999 $ ..........................0 ...............60.0 % 1998 $ ..........................0 ...............60.0 % Total $ ............................0 1999 $ ..........................0 ...............65.0 % 1998 $ ..........................0 ...............65.0 % Total $ ............................0 b. Other Liability and Products Liability 2000 $ ..........................0 ...............60.0 % c. Medical Malpractice 2000 $ ..........................0 ...............60.0 % d. Workers' Compensation 2000 $ ..........................0 ...............65.0 % 2. e. Credit Total $ ............................0 f. All Lines Total (Report here and Page 3) Total $ ............................0 What is the extended loss and expense reserve - direct and assumed - for the following classes? An example of an extended loss and expense reserve is the actuarial reserve for the free-tail coverage arising upon death, disability or retirement in most medical malpractice policies. Such a liability is to be reported here even if it was not reported elsewhere in Schedule P, but otherwise reported as a liability item on Page 3. Show the full reserve amount, not just the change during the current year. Years in Which Premiums 1 2 3 Were Earned and Losses Medical Other Products Were Incurred Malpractice Liability Liability a. Prior..................... ............................................. .......................................................... ............................................... b. 1991..................... ............................................. .......................................................... ............................................... c. 1992..................... ............................................. .......................................................... ............................................... d. 1993..................... ............................................. .......................................................... ............................................... e. 1994..................... ............................................. .......................................................... ............................................... f. 1995..................... ............................................. .......................................................... ............................................... g. 1996..................... ............................................. .......................................................... ............................................... h. 1997..................... ............................................. .......................................................... ............................................... i. 1998..................... ............................................. .......................................................... ............................................... j. 1999..................... ............................................. .......................................................... ............................................... k. 2000..................... ............................................. .......................................................... ............................................... l. Totals................... .........................................0 .......................................................0 ...........................................0 3. The definition of allocated loss adjustment expenses (ALAE) and, therefore, unallocated loss adjustment expenses (ULAE) was changed effective January 1, 1998. This change in definition applies to both paid and unpaid expenses. Are these expenses (now reported as "Defense and Cost Containment" and "Adjusting and Other") reported in compliance with these definitions in this statement? Yes [ X ] No [ ] 4. The Adjusting and Other expense payments and reserves should be allocated to the years in which losses were incurred based on the number of claims reported, closed and outstanding in those years. When allocating Adjusting and Other between companies in a group or a pool, the Adjusting and Other should be allocated in the same percentage used for the loss amounts and the claim counts. For reinsurers, Adjusting and Other assumed should be reported according to the reinsurance contract. For Adjusting and Other incurred by reinsurers, or in those situations where suitable claim count information is not available, Adjusting and Other should be allocated by a reasonable method determined by the company and described in Interrogatory 8, below. Are they so reported in this statement? Yes [ X ] No [ ] 5. Do any lines in Schedule P include reserves which are reported gross of any discount to present value of future payments, but are reported net of such discounts on Yes [ ] No [ X ] Page 11? If Yes, proper reporting must be made in the Notes to Financial Statements, as specified in the Instructions. Also, the discounts must be reported in Schedule P - Part 1, Columns 32 and 33. Schedule P must be completed gross of non-tabular discounting. Work papers relating to discount calculations must be available for examination upon request. Discounting is allowed only if expressly permitted by the state insurance department to which this Annual Statement is being filed. 6. What were the net premiums in force at the end of the year for: (in thousands of dollars) a. Fidelity............$ ........................... b. Surety.............$ ........................... 7. Claim count information is reported: If not the same in all years, explain in Interrogatory 8. a. per claim......... ..........X............... b. per claimant.... ........................... 8. The information provided in Schedule P will be used by many persons to estimate the adequacy of the current loss and expense reserves, among other things. Are there any especially significant events, coverage, retention or accounting changes which have occurred which must be considered when making such analyses? (An extended statement may be attached.) 129 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE Y – INFORMATION CONCERNING ACTIVITIES OF INSURER MEMBERS OF A HOLDING COMPANY PART 1 – ORGANIZATIONAL CHART 130 Penn-Independent Corporation 420 South York Road Hatboro, PA 19040 E.I. No. 23-1997046 | | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | Penn-America Group, Inc. APEX Insurance Agency, Inc. Penn Oceanic Insurance Co. LTD. PIC Holdings, Inc. 420 South York Road 301 Concourse Drive, Suite 100 C/O International Insurance Management, LTD. 300 Delaware Ave. Hatboro, PA 19040 Glen Allen, VA 23060-6292 C.G.M. Building Suite 1704 E.I. No. 23-2731409 E.I. No. 54-1619561 Collymore Rock Wilmington, DE 19801 | | St. Michael, Barbados BWI E.I. 52-2063908 | | E.I. No. AA-316003 | Penn-America Insurance Company ---------------------------------------------------------------------------------------------------| 420 South York Road | | | Hatboro, PA 19040 | | | E.I. No. 23-1997049 | | Penn Independent Financial Services, Inc. | | | | 420 South York Road | Penn-Star Insurance Company APEX Insurance Services of Illinois, Inc. Summit Risk Services, Inc. Hatboro, PA 19040 ------------------------- | 420 South York Road 212 West Van Buren Street. 424 South York Road E.I. No. 23-2472101 | Hatboro, PA 19040 Chicago, IL 60604 Hatboro, PA 19040 | E.I. No. 23-2865367 E.I. No. 36-3983751 E.I. No. 23-2833832 | | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ----------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | Delaware Valley Underwriting Agency, Inc. DVUA Pittsburgh, Inc. DVUA of New York, Inc. DVUA of New Jersey, Inc. DVUA of West Virginia, Inc. DVUA of Ohio, Inc. | PIC Oregon, Inc. DVUA Virginia, Inc. 420 South York Road One Forestwood Drive 1 World Trade Center 25 Vreeland Road, Bldg A 3857 Teays Valley Road 2652 State Route 257 S. | 6700 SW 100th Avenue 4896 Burnham Avenue. Hatboro, PA 19040 Suite 203 Suite 7967, Office 42 Florham Park, NJ 07932 Suite 1 Ostiander, OH 43061 | Suite 200 Richmond, VA 23224 E.I. No. 23-1465456 PO Box 101649 New York, NY 10048 E.I. No. 22-1922591 Hurricane, WV 25526 E.I. No. 23-2094643 | Beaverton, OR 97078 E.I. No. 23-2973968 Pittsburgh, PA 15237 E.I. No. 23-2111159 E.I. No. 23-2132374 | E.I. No. 23-2471660 E.I. No. 25-1552683 | | Penn-Independent Corporation owns 40.8 percent of Penn-America Group, Inc. and 80 percent of APEX Insurance Agency, Inc. All other relationships are owned 100 percent. DVUA North Carolina, Inc. 2302 West Meadowview Road Suite 208 Greensboro, NC 27407 E.I. No. 56-2182568 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE Y (Continued) 1 NAIC Company Code 2 Federal ID Number 3 Names of Insurers and Parent, Subsidiaries or Affiliates Affiliated Transactions 32859................. 23-1997049............. Penn-America Insurance Company....................................... 10673................. 23-2865367............. Penn-Star Insurance Company.............................................. ........................... 23-1997049............. Penn Independent Corporation.............................................. 9999999. Control Totals.......................................................................................................... PART 2 - SUMMARY OF INSURER'S TRANSACTIONS WITH ANY AFFILIATES 4 5 6 Capital Contributions Purchases, Sales or Exchanges of Loans, Securities, Real Estate, Mortgage Loans or Other Investments 7 Income/ (Disbursements) Incurred in Connection with Guarantees or Undertakings for the Benefit of any Affiliate(s) Shareholder Dividends .................................... .................................... .................................... .................................0 8 Management Agreements and Service Contracts .................................... .................................... .................................... .................................0 .................................... .................................... .................................... .................................0 .................................... .................................... .................................... .................................0 .................................... .......................(70,000) ........................70,000 .................................0 9 10 Income/ (Disbursements) Incurred under Reinsurance Agreements ................................ ................................ ................................ .............................0 .... .... .... .... 11 12 Any Other Material Activity Not in the Ordinary Course of the Insurer's Business Totals Reinsurance Recoverable/ (Payable) on Losses and/or Reserve Credit Taken/ (Liability) .................................. .................................. .................................. ...............................0 .................................0 .......................(70,000) ........................70,000 .................................0 .................19,314,000 ................(19,314,000) .................................... .................................0 .... .... .... .... 131 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SCHEDULE T - EXHIBIT OF PREMIUMS WRITTEN 1 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. States, Etc. Alabama.............................AL Alaska................................AK Arizona...............................AZ Arkansas............................AR California...........................CA Colorado............................CO Connecticut........................CT Delaware............................DE District of Columbia............DC Florida................................FL Georgia..............................GA Hawaii.................................HI Idaho...................................ID Illinois...................................IL Indiana................................IN Iowa.....................................IA Kansas...............................KS Kentucky............................KY Louisiana............................LA Maine................................ME Maryland...........................MD Massachusetts...................MA Michigan.............................MI Minnesota..........................MN Mississippi.........................MS Missouri.............................MO Montana.............................MT Nebraska...........................NE Nevada..............................NV New Hampshire.................NH New Jersey.........................NJ New Mexico.......................NM New York...........................NY North Carolina...................NC North Dakota.....................ND Ohio...................................OH Oklahoma..........................OK Oregon..............................OR Pennsylvania......................PA Rhode Island.......................RI South Carolina...................SC South Dakota.....................SD Tennessee.........................TN Texas.................................TX Utah...................................UT Vermont.............................VT Virginia...............................VA Washington.......................WA West Virginia.....................WV Wisconsin...........................WI Wyoming...........................WY American Samoa................AS Guam................................GU Puerto Rico........................PR US Virgin Islands.................VI Canada..............................CN Aggregate Other Alien........OT Totals...................................... ............................................... ............................................... ............................................... Summary of remaining writeins for Line 57 from overflow page 5799. Totals (Lines 5701 thru 5703 + Line 5798) (Line 57 above) 5701. 5702. 5703. 5798. 1a Is Insurer Licensed? (Yes or No) Allocated by States and Territories 3 Direct Premiums Earned ........................782 ........................138 ...................79,459 .....................4,514 .................791,158 ........................238 ............................... .....................8,823 ............................... ............................... .................590,598 ............................... .....................1,097 ............................... ...................23,741 ............................... ...................32,425 ...................71,245 ............................... ............................... .................293,390 ............................... ............................... ............................... ...................91,352 ............................... ............................... ............................... ............................... ............................... ............................... .................433,381 ............................... ............................... ............................... ........................364 ........................535 .....................2,433 .........................67 ............................... ...................17,957 ............................... ..............1,157,810 ............................... .....................5,755 ............................... ........................515 ............................... ............................... .....................2,812 .....................4,248 ............................... ............................... ............................... ............................... ............................... 4 Dividends Paid or Credited to Policyholders on Direct Business ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... Direct Losses Paid (Deducting Salvage) ....................... ....................... .............2,869 .............1,929 .........464,228 ....................... ....................... .............1,888 ....................... ....................... .........180,679 ....................... ....................... ....................... ....................... ....................... ...........22,478 .............1,000 ....................... ....................... .........169,849 ....................... ....................... ....................... ...........81,834 ....................... ....................... ....................... ....................... ....................... ....................... .............9,550 ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... .........281,540 ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... Direct Losses Incurred ..................69 ..................24 ...........21,091 ...........13,230 .........709,191 ..................65 ....................... .............3,739 ....................... ....................... .........404,328 ....................... ................211 ....................... .............4,172 ....................... ...........28,037 ...........12,776 ....................... ....................... .........334,988 ....................... ....................... ....................... ...........91,016 ....................... ....................... ....................... ....................... ....................... ....................... .........103,433 ....................... ....................... ....................... ..................48 ..................53 ................444 ...............(392) ....................... .............2,288 ....................... .........660,631 ....................... .............1,254 ....................... ...............(265) ....................... ....................... ................409 ................818 ....................... ....................... ....................... ....................... ....................... Direct Losses Unpaid ................368 ..................71 ...........20,625 ...........11,301 .........267,015 ..................65 ....................... .............1,851 ....................... ....................... .........241,818 ....................... ................211 ....................... .............7,785 ....................... .............6,764 ...........20,242 ....................... ....................... .........201,082 ....................... ....................... ....................... ...........20,763 ....................... ....................... ....................... ....................... ....................... ....................... .........127,306 ....................... ....................... ....................... ..................98 ................166 ................444 ................338 ....................... .............2,565 ....................... .........496,186 ....................... .............1,254 ....................... ................148 ....................... ....................... ................409 ................818 ....................... ....................... ....................... ....................... ....................... 8 Finance and Service Charges not Included in Premiums ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... ....................... .............................0 ...............3,614,835 .....................0 .....................0 .....................0 .......1,217,845 .....................0 .......2,391,655 .....................0 .......1,429,692 .....................0 ..........................0 .....................0 ..........................0 Gross Premiums, Including Policy and Membership Fees, Less Return Premiums and Premiums on Policies Not Taken 2 Direct Premiums Written .....................2,709 ............................... ...................92,425 ...................18,128 ..............1,084,954 .....................1,900 ............................... ...................12,455 ............................... ............................... .................918,291 ............................... .....................6,417 ............................... ...................60,835 ............................... ...................47,896 .................106,637 ............................... ............................... .................383,669 ............................... ............................... ............................... .................121,229 ............................... ............................... ............................... ............................... ............................... ............................... .................443,991 ............................... ............................... ............................... ......................(159) ............................... ...................16,265 ......................(811) ............................... ...................29,020 ............................... ..............1,344,189 ............................... ...................29,387 ............................... .....................1,375 ............................... ............................... ...................10,479 ...................38,217 ............................... ............................... ............................... ............................... ............................... ......NO........ ......NO........ ......NO........ ......NO........ ......YES...... ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......YES...... ......YES...... ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......YES...... ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......YES...... ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......YES...... ......NO........ ......YES...... ......NO........ ......YES...... ......NO........ ......NO........ ......YES...... ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......YES...... ......YES...... ......NO........ ......NO........ ......NO........ ......NO........ ......NO........ ......XXX...... .............................0 (a)..........11 ...............4,769,498 5 6 7 9 Direct Premiums Written for Federal Purchasing Groups (Incl. in Col. 2) ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... ........................... DETAILS OF WRITE-INS ......XXX...... ............................... ............................... ....................... ....................... ....................... ....................... ....................... ........................... ......XXX...... ............................... ............................... ....................... ....................... ....................... ....................... ....................... ........................... ......XXX...... ............................... ............................... ....................... ....................... ....................... ....................... ....................... ........................... ......XXX...... .............................0 .............................0 .....................0 .....................0 .....................0 .....................0 .....................0 ..........................0 ......XXX...... .............................0 .............................0 Explanation of Basis of Allocation of Premiums by States, etc. Fire, Allied Lines, and Commercial Multi-Peril: Location of Property Inland Marine, Other Liability, and Product Liability: Address of Insured Auto Physical Damage and Auto Liability: Location of Principal Vehicle .....................0 .....................0 .....................0 .....................0 .....................0 ..........................0 (a) Insert the number of yes responses except for Canada and Other Alien. 132 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES The following supplemental reports are required to be filed as part of your annual statement filing. However, in the event that your company does not transact the type of business for which the special report must be filed, your response to the specific interrogatory will be accepted in lieu of filing a "NONE" report. 1. a. Does your company write Medical Malpractice Insurance? b. Will Supplement A to Schedule T (Medical Malpractice Supplement) be filed by March 1? Yes [ ] No [ X ] Yes [ ] No [ X ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 450) here: *000010673200045000000* 2. a. Does your company have 100 or more stockholders? b. Will Schedule SIS (Stockholder Information Supplement) be filed with the state of domicile and the NAIC by March 1? Yes [ ] No [ X ] Yes [ ] No [ X ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 420) here: *000010673200042000000* 3. a. Does your company write financial guaranty insurance? b. Will the Financial Guaranty Insurance Exhibit be filed by March 1? Yes [ ] No [ X ] Yes [ ] No [ X ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 240) here: *000010673200024000000* 4. a. Does your company write Medicare Supplement insurance? b. Will the Medicare Supplement Insurance Experience Exhibit be filed with the state of domicile and the NAIC by March 1? Yes [ ] No [ X ] Yes [ ] No [ X ] Yes [ X ] No [ ] Yes [ X ] No [ ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 360) here: *000010673200036000000* 5. a. An actuarial opinion is a required filing for all companies. Will an actuarial opinion be filed with this statement by March 1? b. If response is no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 440) here: 6. a. The officers and directors information is a required filing for all companies. Will the officers and directors information be filed with the NAIC by March 1? b. If response is no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 380) here: 133 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES (continued) 7. a. The SVO Compliance Certification is a required filing for all companies. Will the SVO Compliance Certification be filed by March 1? Yes [ X ] No [ ] b. If response is no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 470) here: 8. a. Is your company a U.S. Branch of an alien insurer? b. Will the Trusteed Surplus Statement be filed with the state of domicile and the NAIC by March 1? Yes [ ] No [ X ] Yes [ ] No [ X ] Yes [ X ] No [ ] Yes [ X ] No [ ] Yes [ X ] No [ ] Yes [ ] No [ X ] Yes [ ] No [ X ] Yes [ X ] No [ ] Yes [ X ] No [ ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 490) here: *000010673200049000000* 9. a. The Supplemental Compensation Exhibit is a required filing, with the state of domicile, for all companies. Will the Supplemental Compensation Exhibit be filed with the state of domicile by March 1? b. If response is no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 460) here: 10. a. Will the Risk-based Capital Report be filed with the NAIC by March 1? i. If response is no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 390) here: b. Will the Risk-based Capital Report be filed with the state of domicile, if required, by March 1? i. If response is no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 390) here: 11. a. Does your company have investments in insurance futures reportable on Schedule DC? b. Will Schedule DC be filed with the state of domicile and the NAIC by March 1? c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 400) here: *000010673200040000000* 12. a. The Insurance Expense Exhibit is a required filing for all companies. Will the Insurance Expense Exhibit be filed with the state of domicile and the NAIC by April 1? b. If no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 270) here: 13. a. Management's Discussion and Analysis is a required filing for all companies. Will Management's Discussion and Analysis be filed by April 1? b. If no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 350) here: 134 Annual Statement for the year 2000 of the PENN-STAR INSURANCE COMPANY SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES (continued) 14. a. Does your company write credit insurance? b. Will the Credit Insurance Experience Exhibit be filed with the state of domicile and the NAIC by April 1? Yes [ ] No [ X ] Yes [ ] No [ X ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 230) here: *000010673200023000000* 15. a. Does your company write long-term care insurance? b. Will the Long-term Care Experience Reporting Forms be filed with the state of domicile and the NAIC by April 1? Yes [ ] No [ X ] Yes [ ] No [ X ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 330) here: *000010673200033000000* 16. a. Does your company write accident and health insurance (other than credit)? b. Will the Accident and Health Policy Experience Exhibit be filed by May 1? Yes [ ] No [ X ] Yes [ ] No [ X ] Yes [ X ] No [ ] c. If first response is yes and second response is no, please explain: If second response is no and the form is "None", affix bar code (Document Identifier 210) here: *000010673200021000000* 17. a. Will this company be included in a combined annual statement which is filed with the NAIC by May 1? (A company should be included in only one group filing a combined annual statement. If a company will be included in a combined annual statement on other than a consolidated basis, e.g., equity basis, answer item c "no.") b. If yes, indicate NAIC group code ................................................. c. If the company is included in a combined annual statement, will the basis of inclusion be consolidation? Yes [ X ] No [ ] Yes [ X ] No [ ] If response to 17a is no and the form is "None", affix bar code (Document Identifier 201) here: 18. a. An audited financial report is a required filing for all companies. Will an audited financial report be filed by June 1? b. If no, please explain: If response is no and the form is "None", affix bar code (Document Identifier 220) here: 135
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