Q1 - Navigators Specialty Insurance Company

Transcription

*36056200820100101*
PROPERTY AND CASUALTY COMPANIES —ASSOCIATION EDITION
QUARTERLY STATEMENT
AS OF MARCH 31, 2008
OF THE CONDITION AND AFFAIRS OF THE
Navigators Specialty Insurance Company
NAIC Group Code
0510
0510
,
(Current Period)
36056
NAIC Company Code
13-3536448
Employer’s ID Number
(Prior Period)
Organized under the Laws of
New York
New York
, State of Domicile or Port of Entry
Country of Domicile
United States
Incorporated/Organized
12/01/1988
One Penn Plaza - 55th Floor
Statutory Home Office
10/17/1989
Commenced Business
New York, NY 10119-0002
,
(Street and Number)
Main Administrative Office
Mail Address
(City or Town, State and Zip Code)
6 International Drive
Rye Brook, NY 10573
914-934-8999
(Street and Number)
(Area Code) (Telephone Number)
Rye Brook, NY 10573
,
(Street and Number or P.O. Box)
Primary Location of Books and Records
Rye Brook, NY 10573
914-933-6054
(Street and Number)
(Area Code) (Telephone Number
Internet Website Address
www.navg.com
Statutory Statement Contact
William Ryan Foye
914-933-6054
(Name)
(Area Code) (Telephone Number) (Extension)
[email protected]
914-933-6072
(E-Mail Address)
(Fax Number)
OFFICERS
Name
Stanley Adam Galanski
Elliot Scott Orol
,
,
Title
President & CEO
Senior Vice President & Secretary
Richard Scott Eisdorfer
Bradley Dale Wiley
Callum McIntosh Duncan
Paul Christopher Kluga #
Printhan Sothinathan #
Charles Derek Valentine
,
,
,
,
,
,
Senior Vice President
Vice President
Vice President
Vice President
Vice President
Name
Paul John Malvasio
Mathew Steven Rubin #
,
,
Title
Executive Vice President & CFO
Vice President & Treasurer
OTHER OFFICERS
Jane Ellen Keller
Thomas Charles Connolly
Ramona Lucinda Eiseman
Jeff Lyle Saunders
Christopher Mohr Steinbach
,
,
,
,
,
,
Vice President
Vice President
Vice President
Vice President
DIRECTORS OR TRUSTEES
Michael Louis Civisca
John Wayne Jones
Richard Charles Fitzgerald Rea
State of
New York
County of
New York
Terence Norman Deeks (Chairman)
Noel Higgitt
Jane Ellen Keller
Jeff Lyle Saunders
Christopher Carmine Duca
Christopher Alban Johnson
Paul John Malvasio
Bradley Dale Wiley
Richard Scott Eisdorfer
Russell John Johnson
Gregory Donald Olson
ss
The officers of this reporting entity being duly sworn, each depose and say that they are the described officers of said reporting entity, and that on the reporting period stated
above, all of the herein described assets were the absolute property of the said reporting entity, free and clear from any liens or claims thereon, except as herein stated, and
that this statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to, is a full and true statement of all the assets and
liabilities and of the condition and affairs of the said reporting entity as of the reporting period stated above, and of its income and deductions therefrom for the period ended,
and have been completed in accordance with the NAIC Annual Statement Instructions and Accounting Practices and Procedures manual 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. Furthermore, the scope of this attestation by the described officers also includes the related corresponding electronic filing with
the NAIC, when required, that is an exact copy (except for formatting differences due to electronic filing) of the enclosed statement. The electronic filing may be requested by
various regulators in lieu of or in addition to the enclosed statement.
President & CEO
Elliot Scott Orol
Senior Vice President & Secretary
Mathew Steven Rubin
Vice President & Treasurer
a. Is this an original filing?
Subscribed and sworn to before me this
day of
April, 2008
Agustin R. Cruz, Notary Public, State of New York
April 30, 2011
No. 01CR4842898
Qualified in Queens County
b. If no,
1. State the amendment number
2. Date filed
3. Number of pages attached
Yes [ X ] No [
]
STATEMENT AS OF MARCH 31, 2008 OF THE Navigators Specialty Insurance Company
ASSETS
1
Assets
1. Bonds
Current Statement Date
2
3
Nonadmitted Assets
Net Admitted Assets
(Cols. 1 - 2)
4
December 31
Prior Year Net
Admitted Assets
106,503,570
106,503,570
108,792,280
4,543,573
4,543,573
1,164,808
16,271
16,271
7,418
111,063,414
111,063,414
109,964,506
825,483
825,483
949,614
13,553,657
13,553,657
16,636,403
125,442,554
125,442,554
127,550,523
125,442,554
125,442,554
127,550,523
2. Stocks:
2.1 Preferred stocks
2.2 Common stocks
3. Mortgage loans on real estate:
3.1 First liens
3.2 Other than first liens
4. Real estate:
4.1 Properties occupied by the company (less
$
encumbrances)
4.2 Properties held for the production of income
(less $
encumbrances)
4.3 Properties held for sale (less
$
5. Cash ($
encumbrances)
1,048,295 ),
3,495,278 )
cash equivalents ($
and short-term investments ($
)
6. Contract loans, (including $
premium notes)
7. Other invested assets
8. Receivables for securities
9. Aggregate write-ins for invested assets
10. Subtotals, cash and invested assets (Lines 1 to 9)
11. Title plants less $
charged off (for Title insurers
only)
12. Investment income due and accrued
13. Premiums and considerations:
13.1 Uncollected premiums and agents’ balances in the course of
collection
13.2 Deferred premiums, agents’ balances and installments booked but
deferred and not yet due (including $
earned
but unbilled premiums)
13.3 Accrued retrospective premiums
14. Reinsurance:
14.1 Amounts recoverable from reinsurers
14.2 Funds held by or deposited with reinsured companies
14.3 Other amounts receivable under reinsurance contracts
15. Amounts receivable relating to uninsured plans
16.1 Current federal and foreign income tax recoverable and interest thereon
16.2 Net deferred tax asset
17. Guaranty funds receivable or on deposit
18. Electronic data processing equipment and software
19. Furniture and equipment, including health care delivery assets
($
)
20. Net adjustment in assets and liabilities due to foreign exchange rates
21. Receivables from parent, subsidiaries and affiliates
22. Health care ($
) and other amounts receivable
23. Aggregate write-ins for other than invested assets
24. Total assets excluding Separate Accounts, Segregated Accounts and
Protected Cell Accounts (Lines 10 to 23)
25. From Separate Accounts, Segregated Accounts and Protected
Cell Accounts
26. Total (Lines 24 and 25)
DETAILS OF WRITE-INS
0901.
0902.
0903.
0998. Summary of remaining write-ins for Line 9 from overflow page
0999. Totals (Lines 0901 through 0903 plus 0998)(Line 9 above)
2301.
2302.
2303.
2399. Totals (Lines 2301 through 2303 plus 2398)(Line 23 above)
2
LIABILITIES, SURPLUS AND OTHER FUNDS
1
Current
Statement Date
1. Losses (current accident year $
2
December 31,
Prior Year
)
2. Reinsurance payable on paid losses and loss adjustment expenses
3. Loss adjustment expenses
4. Commissions payable, contingent commissions and other similar charges
5. Other expenses (excluding taxes, licenses and fees)
52,200
52,000
485,792
424,646
6. Taxes, licenses and fees (excluding federal and foreign income taxes)
(6,317) on realized capital gains (losses))
7.1Current federal and foreign income taxes (including $
103,815
7.2 Net deferred tax liability
8. Borrowed money $
and interest thereon $
9. Unearned premiums (after deducting unearned premiums for ceded reinsurance of $
including warranty reserves of $
90,444,936 and
)
10. Advance premium
11. Dividends declared and unpaid:
11.1 Stockholders
11.2 Policyholders
13,553,657
16,636,403
17,864
30,900
14,213,328
17,143,949
14,213,328
17,143,949
5,000,000
5,000,000
32. Gross paid in and contributed surplus
86,000,000
86,000,000
33. Unassigned funds (surplus)
20,229,226
19,406,574
35. Surplus as regards policyholders (Lines 27 to 33, less 34)
111,229,226
110,406,574
36. TOTALS
125,442,554
127,550,523
12. Ceded reinsurance premiums payable (net of ceding commissions)
13. Funds held by company under reinsurance treaties
14. Amounts withheld or retained by company for account of others
15. Remittances and items not allocated
16. Provision for reinsurance
17. Net adjustments in assets and liabilities due to foreign exchange rates
18. Drafts outstanding
19. Payable to parent, subsidiaries and affiliates
20. Payable for securities
21. Liability for amounts held under uninsured plans
22. Capital notes $
and interest thereon $
23. Aggregate write-ins for liabilities
24. Total liabilities excluding protected cell liabilities (Lines 1 through 23)
25. Protected cell liabilities
26. Total liabilities (Lines 24 and 25)
27. Aggregate write-ins for special surplus funds
28. Common capital stock
29. Preferred capital stock
30. Aggregate write-ins for other than special surplus funds
31. Surplus notes
34. Less treasury stock, at cost:
34.1
shares common (value included in Line 28 $
)
34.2
shares preferred (value included in Line 29 $
)
2301.
2302.
2303.
2399. Totals (Lines 2301 thru 2303 plus 2398) (Line 23 above)
2701.
2702.
2703.
3001.
3002.
3003.
3
STATEMENT OF INCOME
1
Current Year
to Date
2
Prior Year
to Date
3
Prior Year Ended
December 31
UNDERWRITING INCOME
1. Premiums earned:
1.1 Direct (written $
1.2 Assumed (written $
1.3 Ceded (written $
1.4 Net (written $
41,963,797 )
41,963,797 )
0501.
0502.
0503.
0598.
0599.
1401.
1402.
1403.
1498.
1499.
3701.
3702.
3703.
3798.
3799.
51,791,119
61,153,681
246,073,836
14,651,795
9,089,470
91,123,686
14,651,796
(1)
9,089,470
91,123,686
(1)
1
(6,317)
OTHER INCOME
12. Net gain or (loss) from agents' or premium balances charged off
(amount recovered $
amount charged off $
)
13. Finance and service charges not included in premiums
14. Aggregate write-ins for miscellaneous income
15. Total other income (Lines 12 through 14)
16. Net income before dividends to policyholders after capital gains tax and before all other federal
and foreign income taxes (Lines 8 + 11 + 15)
17. Dividends to policyholders
18. Net income, after dividends to policyholders after capital gains tax and before all other federal
and foreign income taxes (Line 16 minus Line 17)
19. Federal and foreign income taxes incurred
20. Net income (Line 18 minus Line 19)(to Line 22)
34.
35.
36.
37.
38.
39.
246,073,836
):
INVESTMENT INCOME
9. Net investment income earned
10. Net realized capital gains (losses) less capital gains tax of $
11. Net investment gain (loss) (Lines 9 + 10)
33.
61,153,681
)
DEDUCTIONS:
2. Losses incurred (current accident year $
2.1 Direct
2.2 Assumed
2.3 Ceded
2.4 Net
3. Loss adjustment expenses incurred
4. Other underwriting expenses incurred
5. Aggregate write-ins for underwriting deductions
6. Total underwriting deductions (Lines 2 through 5)
7. Net income of protected cells
8. Net underwriting gain or (loss) (Line 1.4 minus Line 6 + Line 7)
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
51,791,119
)
CAPITAL AND SURPLUS ACCOUNT
Surplus as regards policyholders, December 31 prior year
Net income (from Line 20)
Net transfers (to) from Protected Cell accounts
Change in net unrealized capital gains or (losses) less capital gains tax of $
Change in net unrealized foreign exchange capital gain (loss)
Change in net deferred income tax
Change in nonadmitted assets
Change in provision for reinsurance
Change in surplus notes
Surplus (contributed to) withdrawn from protected cells
Cumulative effect of changes in accounting principles
Capital changes:
32.1 Paid in
32.2 Transferred from surplus (Stock Dividend)
32.3 Transferred to surplus
Surplus adjustments:
33.1 Paid in
33.2 Transferred to capital (Stock Dividend)
33.3 Transferred from capital
Net remittances from or (to) Home Office
Dividends to stockholders
Change in treasury stock
Aggregate write-ins for gains and losses in surplus
Change in surplus as regards policyholders (Lines 22 through 37)
Surplus as regards policyholders, as of statement date (Lines 21 plus 38)
1,378,487
11,733
1,390,220
1,341,598
(53)
1,341,545
5,492,617
(61,346)
5,431,271
1,390,221
1,341,545
5,431,271
1,390,221
479,475
910,746
1,341,545
461,212
880,333
5,431,271
1,821,595
3,609,676
110,406,574
910,746
106,772,942
880,333
106,772,942
3,609,676
15,722
(23,853)
(226,920)
123,105
822,653
111,229,227
Summary of remaining write-ins for Line 5 from overflow page
Totals (Lines 0501 through 0503 plus 0598) (Line 5 above)
4
23,956
123,105
(123,105)
856,481
107,629,423
3,633,632
110,406,574
CASH FLOW
1
Current Year
To Date
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
Cash from Operations
Premiums collected net of reinsurance
Net investment income
Miscellaneous income
Total (Lines 1 to 3)
Benefits and loss related payments
Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts
Commissions, expenses paid and aggregate write-ins for deductions
Dividends paid to policyholders
2,115 tax on capital gains (losses)
Federal and foreign income taxes paid (recovered) net of $
Total (Lines 5 through 9)
Net cash from operations (Line 4 minus Line 10)
Cash from Investments
Proceeds from investments sold, matured or repaid:
12.1 Bonds
12.2 Stocks
12.3 Mortgage loans
12.4 Real estate
12.5 Other invested assets
12.6 Net gains or (losses) on cash, cash equivalents and short-term investments
12.7 Miscellaneous proceeds
12.8 Total investment proceeds (Lines 12.1 to 12.7)
Cost of investments acquired (long-term only):
13.1 Bonds
13.2 Stocks
13.3 Mortgage loans
13.4 Real estate
13.5 Other invested assets
13.6 Miscellaneous applications
13.7 Total investments acquired (Lines 13.1 to 13.6)
Net increase (or decrease) in contract loans and premium notes
Net cash from investments (Line 12.8 minus Line 13.7 and Line 14)
Cash from Financing and Miscellaneous Sources
Cash provided (applied):
16.1 Surplus notes, capital notes
16.2 Capital and paid in surplus, less treasury stock
16.3 Borrowed funds
16.4 Net deposits on deposit-type contracts and other insurance liabilities
16.5 Dividends to stockholders
16.6 Other cash provided (applied)
Net cash from financing and miscellaneous sources (Line 16.1 through Line 16.4 minus Line 16.5 plus Line 16.6)
RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)
Cash, cash equivalents and short-term investments:
19.1 Beginning of year
19.2 End of period (Line 18 plus Line 19.1)
5
2
Prior Year Ended
December 31
1,537,121
5,573,081
1,537,121
5,573,081
412,012
412,012
1,125,109
2,258,531
2,258,531
3,314,550
2,287,979
21,675,366
2,287,979
1,265
6,342
21,682,973
24,900,581
21,487
21,487
2,266,492
(12,836)
(12,836)
1,209
24,901,790
(3,218,816)
(87,998)
(87,998)
3,378,765
7,736
1,164,808
4,543,573
1,157,072
1,164,808
NOTES TO FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies – No significant change
2. Accounting Changes and Corrections of Errors – No significant change
3. Business Combinations and Goodwill – No significant change
4. Discontinued Operations – No significant change
5. Investments – No significant change
6. Joint Ventures, Partnerships and Limited Liability Companies – No change
7. Investment Income – No significant change
8. Derivative Investments - No significant change
9. Income Taxes - No significant change
10. Information Concerning Parent, Subsidiaries and Affiliates – No significant change
11. Debt – No significant change
12. Retirement Plans, Deferred Compensation, Post Employment Benefits and Compensated Absences and Other
Post Retirement Benefit Plans – No significant change
13. Capital and Surplus, Dividend Restrictions and Quasi-Reorganizations – No significant change
14. Contingencies – No significant change
15. Leases – No significant change
16. Financial Instruments with Off-Balance Sheet Risk and Financial Instruments with Concentration of Credit Risk –
No significant change
17. Sale, Transfer and Servicing of Financial Assets and Extinguishments of Liabilities – No significant change
C. Wash Sales - None
18. Gain or Loss to the Company from Uninsured A&H Plans and the Uninsured Portion of Partially Insured Plans – No
significant change
19. Direct Premium Written/Produced by Managing General Agents/Third Party Administrators – No significant change
20. Other Items – No significant change
21. Events Subsequent – No significant change
22. Reinsurance – No significant change
23. Retrospectively Rated Contracts and Contracts Subject to Redetermination – No significant change
24. Changes in Net Incurred Losses and Loss Adjustment Expenses – No significant change
25. Intercompany Pooling Arrangements – No significant change
26. Structured Settlements – No significant change
27. Heath Care Receivables – No significant change
28. Participating Policies – No significant change
29. Premium Deficiency Reserves - No significant change
30. High Deductibles – No significant change
31. Discounting of Liabilities for Unpaid Losses and Loss Adjustment Expenses – No significant change
32. Asbestos/Environmental Reserves – No significant change
33. Subscriber Savings Accounts – No significant change
34. Multiple Peril Crop Insurance – No significant change
6
GENERAL INTERROGATORIES
(Responses to these interrogatories should be based on changes that have occurred since the prior year end unless otherwise noted.)
PART 1 - COMMON INTERROGATORIES
GENERAL
1.1
Did the reporting entity experience any material transactions requiring the filing of Disclosure of Material Transactions with the State of
Domicile, as required by the Model Act?
Yes [ ] No [X]
1.2
If yes, has the report been filed with the domiciliary state?
Yes [ ] No [ ]
2.1
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
reporting entity?
Yes [ ] No [X]
2.2
If yes, date of change:
If not previously filed, furnish herewith a certified copy of the instrument as amended.
3.
Yes [ ] No [X]
Have there been any substantial changes in the organizational chart since the prior quarter end?
If yes, complete the Schedule Y - Part 1 - organizational chart.
Yes [ ] No [X]
4.1
Has the reporting entity been a party to a merger or consolidation during the period covered by this statement?
4.2
If yes, provide the name of entity, NAIC Company Code, and state of domicile (use two letter state abbreviation) for any entity that has
ceased to exist as a result of the merger or consolidation.
1
Name of Entity
5.
2
NAIC Company Code
3
State of Domicile
If the reporting entity is subject to a management agreement, including third-party administrator(s), managing general agent(s), attorneyin-fact, or similar agreement, have there been any significant changes regarding the terms of the agreement or principals involved?
Yes [ ] No [X] NA [ ]
If yes, attach an explanation.
6.1
State as of what date the latest financial examination of the reporting entity was made or is being made.
12/31/2004
6.2
State the as of date that the latest financial examination report became available from either the state of domicile or the reporting entity.
This date should be the date of the examined balance sheet and not the date the report was completed or released.
12/31/2004
6.3
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 reporting entity. This is the release date or completion date of the examination report and not the date of the examination (balance
sheet date).
09/22/2006
6.4
By what department or departments?
New York State Insurance Department
6.5
Have all financial statement adjustments within the latest financial examination report been accounted for in a subsequent financial
statement filed with Departments?
Yes [ ] No [ ] NA [X]
6.6
Have all of the recommendations within the latest financial examination report been complied with?
Yes [ ] No [ ] NA [X]
7.1
Has this reporting entity had any Certificates of Authority, licenses or registrations (including corporate registration, if applicable)
suspended or revoked by any governmental entity during the reporting period?
7.2
If yes, give full information:
8.1
Is the company a subsidiary of a bank holding company regulated by the Federal Reserve Board?
8.2
If response to 8.1 is yes, please identify the name of the bank holding company.
8.3
Is the company affiliated with one or more banks, thrifts or securities firms?
8.4
If response to 8.3 is yes, please provide below the names and location (city and state of the main office) of any affiliates regulated by a
federal regulatory services agency [i.e. the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC), the Office
of Thrift Supervision (OTS), the Federal Deposit Insurance Corporation (FDIC) and the Securities Exchange Commission (SEC)] and
identify the affiliate’s primary federal regulator.]
1
Affiliate Name
Yes [ ] No [X]
Yes [ ] No [X]
Yes [ ] No [X]
2
Location
(City, State)
7
3
4
5
6
7
FRB
OCC
OTS
FDIC
SEC
9.1
Are the senior officers (principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing
similar functions) of the reporting entity subject to a code of ethics, which includes the following standards?
Yes [X] No [ ]
(a) Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional
relationships;
(b) Full, fair, accurate, timely and understandable disclosure in the periodic reports required to be filed by the reporting entity;
(c) Compliance with applicable governmental laws, rules and regulations;
(d) The prompt internal reporting of violations to an appropriate person or persons identified in the code; and
(e) Accountability for adherence to the code.
9.11 If the response to 9.1 is No, please explain:
9.2
Yes [ ] No [X]
Has the code of ethics for senior managers been amended?
9.21 If the response to 9.2 is Yes, provide information related to amendment(s).
9.3
Yes [ ] No [X]
Have any provisions of the code of ethics been waived for any of the specified officers?
9.31 If the response to 9.3 is Yes, provide the nature of any waiver(s).
FINANCIAL
Yes [ ] No [X]
10.1 Does the reporting entity report any amounts due from parent, subsidiaries or affiliates on Page 2 of this statement?
10.2 If yes, indicate any amounts receivable from parent included in the Page 2 amount:
$
INVESTMENT
11.1 Were any of the stocks, bonds, or other assets of the reporting entity loaned, placed under option agreement, or otherwise made available
for use by another person? (Exclude securities under securities lending agreements.)
Yes [ ] No [X]
11.2 If yes, give full and complete information relating thereto:
12.
Amount of real estate and mortgages held in other invested assets in Schedule BA:
$
13.
Amount of real estate and mortgages held in short-term investments:
$
14.1
Does the reporting entity have any investments in parent, subsidiaries and affiliates?
14.2
If yes, please complete the following:
Yes [ ] No [X]
1
Prior Year-End
Book/Adjusted
Carrying Value
14.21
14.22
14.23
14.24
14.25
14.26
14.27
Bonds
Preferred Stock
Common Stock
Short-Term Investments
Mortgage Loans on Real Estate
All Other
Total Investment in Parent, Subsidiaries and Affiliates (Subtotal
Lines 14.21 to 14.26)
14.28 Total Investment in Parent included in Lines 14.21 to 14.26 above
2
Current Quarter
Book/Adjusted
Carrying Value
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
15.1 Has the reporting entity entered into any hedging transactions reported on Schedule DB?
Yes [ ] No [X]
15.2 If yes, has a comprehensive description of the hedging program been made available to the domiciliary state?
If no, attach a description with this statement.
Yes [ ] No [ ]
7.1
16.
Excluding items in Schedule E, real estate, mortgage loans and investments held physically in the reporting entity’s offices, vaults or
safety deposit boxes, were all stocks, bonds and other securities, owned throughout the current year held pursuant to a custodial
agreement with a qualified bank or trust company in accordance with Section 3, III Conducting Examinations, G - Custodial or
Safekeeping Agreements of the NAIC Financial Condition Examiners Handbook?
Yes [X] No [ ]
16.1 For all agreements that comply with the requirements of the NAIC Financial Condition Examiners Handbook, complete the following:
1
Name of Custodian(s)
2
Custodian Address
Brown Brothers Harriman & Company
140 Broadway New York, NY 10005
16.2 For all agreements that do not comply with the requirements of the NAIC Financial Condition Examiners Handbook, provide the name,
location and a complete explanation:
1
Name(s)
2
Location(s)
3
Complete Explanation(s)
16.3 Have there been any changes, including name changes in the custodian(s) identified in 16.1 during the current quarter?
Yes [ ] No [X]
16.4 If yes, give full and complete information relating thereto:
1
Old Custodian
2
New Custodian
3
Date of Change
4
Reason
16.5 Identify all investment advisors, brokers/dealers or individuals acting on behalf of broker/dealers that have access to the investment
accounts, handle securities and have authority to make investments on behalf of the reporting entity:
1
Central Registration Depository
106595
2
Name(s)
3
Address
Wellington Management Company,
75 State Street Boston, MA 02109
LLP
17.1 Have all the filing requirements of the Purposes and Procedures Manual of the NAIC Securities Valuation Office been followed?
17.2 If no, list exceptions:
7.2
Yes [X] No [ ]
(Responses to these interrogatories should be based on changes that have occurred since prior year end unless otherwise noted.)
PART 2
PROPERTY & CASUALTY INTERROGATORIES
1.
If the reporting entity is a member of a pooling arrangement, did the agreement or the reporting entity's participation change?
Yes [ ] No [ ] NA [X]
2.
Has the reporting entity reinsured any risk with any other entity and agreed to release such entity from liability, in whole or in part, from any
loss that may occur on the risk, or portion thereof, reinsured?
Yes [ ] No [X]
Yes [ ] No [X]
3.1
Have any of the reporting entity's primary reinsurance contracts been canceled?
3.2
If yes, give full and complete information thereto.
4.1
Are any of the liabilities for unpaid losses and loss adjustment expenses other than certain workers' compensation tabular reserves (see
annual statement instructions pertaining to disclosure of discounting for definition of “tabular reserves”) discounted at a rate of interest
greater than zero?
4.2
Yes [ ] No [X]
If yes, complete the following schedule:
1
Line of Business
2
Maximum
Interest
3
Discount
Rate
4
Unpaid
Losses
TOTAL DISCOUNT
5
6
Unpaid
LAE
IBNR
TOTAL
8
7
TOTAL
DISCOUNT TAKEN DURING PERIOD
8
9
10
11
Unpaid
Unpaid
Losses
LAE
IBNR
TOTAL
SCHEDULE F—CEDED REINSURANCE
1
2
NAIC
Company Code
Federal
ID Number
Showing all new reinsurers - Current Year to Date
3
Name of Reinsurer
4
Location
AFFILIATES
US INSURERS
POOLS AND ASSOCIATIONS
ALL OTHER INSURERS
NONE
9
5
Is Insurer
Authorized?
(Yes or No)
SCHEDULE T - EXHIBIT OF PREMIUMS WRITTEN
Current Year to Date - Allocated by States and Territories
Direct Premiums Written
Direct Losses Paid (Deducting Salvage)
2
3
4
5
1
Active
Status
States, etc.
1. Alabama
AL
2. Alaska
AK
3. Arizona
AZ
4. Arkansas
AR
5. California
CA
6. Colorado
CO
7. Connecticut
CT
8. Delaware
DE
9. District of Columbia
DC
10. Florida
FL
11. Georgia
GA
12. Hawaii
HI
13. Idaho
ID
14. Illinois
IL
15. Indiana
IN
16. Iowa
IA
17. Kansas
KS
18. Kentucky
KY
19. Louisiana
LA
20. Maine
ME
21. Maryland
MD
22. Massachusetts
MA
23. Michigan
MI
24. Minnesota
MN
25. Mississippi
MS
26. Missouri
MO
27. Montana
MT
28. Nebraska
NE
29. Nevada
NV
30. New Hampshire
NH
31. New Jersey
NJ
32. New Mexico
NM
33. New York
NY
34. North Carolina
NC
35. North Dakota
ND
36. Ohio
OH
37. Oklahoma
OK
38. Oregon
OR
39. Pennsylvania
PA
40. Rhode Island
RI
41. South Carolina
SC
42. South Dakota
SD
43. Tennessee
TN
44. Texas
TX
45. Utah
UT
46. Vermont
VT
47. Virginia
VA
48. Washington
WA
49. West Virginia
WV
50. Wisconsin
WI
51. Wyoming
WY
52. American Samoa
AS
53. Guam
GU
54. Puerto Rico
PR
55. U.S. Virgin Islands
VI
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
L
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
E
Current Year
To Date
188,384
2,475
1,162,742
Prior Year
To Date
Current Year
To Date
Prior Year
To Date
Current Year
To Date
Prior Year
To Date
252,022
8,969
4,301,894
30,987
271,005,668
1,361,404
499,264
21,337
313,238
6,828,704
982,641
595,338
25,725
3,094,127
242,162
48,871
29,480
75,940
6,608,868
145,600
475,903
937,240
846,917
131,813
64,985
557,414
422,921
161,160
6,335,916
136,752
4,805,185
5,257
371,126
1,094
3,337,142
2,563
219,433,665
543,402
614,532
125,475
92,036
4,668,795
1,562,447
480,671
570,111
864,463
352,683
419,824
28,144
241,710
7,271,293
293,421
331,124
870,252
1,450,634
13,116
8,751
226,379
568,967
69,851
2,702,274
172,714
2,383,618
863,871
23,182
544,240
26,642
1,010,248
2,716,194
231,527
238,806
60,492
448,666
9,932,085
37,740
19,306
1,142,736
3,662,931
75,402
717,807
145,349
879,996
91,168
856,820
1,195
371,876
2,010,167
139,266
114,395
99,427
657,148
4,144,512
193,092
1,506
1,495,690
2,598,867
100,886
255,819
160,792
82,551
333,333,478
375,306
264,620,201
XXX
XXX
XXX
80,500
16
5
374,295
1,000
XXX
2,035
7
XXX
82,551
375,306
26,529,896
1,100,848
172,867
31,075
2,503
1,311,045
342,150
162,550
20,810
805,519
44,792
65,784
48,826
14,756
1,226,133
95,643
78,582
61,957
164,662
44,990
11,946
4,761
2,815
1,380,999
1,976
731,856
24,126
176,488
13,589
321,455
(46)
472,299
656,453
361,305
24,907
162,075
2,393,170
17,369
14,540
200,225
1,229,191
4,874
77,465
969
123,541
Direct Losses Unpaid
6
7
1,664,981
1,998
45,968,695
137,022
146,240
4,006
87,341
1,427,200
320,142
185,450
29,962
1,764,421
47,020
34,631
9,550
22,790
1,197,670
99,849
91,114
289,721
332,337
13,118
5,141
21,463
3,150,088
36,283
5,370,366
8,253
6,932,110
(5,000)
105,553
982,650
556,411
2,563
66,447
1,879
325,018
5,213
200,000
837
8,500
32,000
4,575
1,054,668
14,999
159,487
10,901
279,751
7,995
411,999
500
710,957
1,012,244
21,334
373,557
29,752
43,113
3,851,049
(65,493)
3,760
197,750
2,349,353
43,374
154,151
5,544
3,500
(1,000)
196,812
1,935
127,155
14,000
506,054
8,684
13,270
(5,000)
6,200
(152)
56. Northern Mariana Islands MP
57. Canada
CN
58. Aggregate Other Alien
OT
59. Totals
5801. Brazil
5802. Israel
5803. Mexico
5898. Summary of remaining writeins for Line 58 from overflow
page
5899. Totals (Lines 5801 through
5803 plus 5898) (Line 58
above)
XXX
1
(a)
41,963,797
67,675,349
(a) Insert the number of L responses except for Canada and Other Alien.
10
7,265,581
8,410,424
SCHEDULE Y - INFORMATION CONCERNING ACTIVITIES OF INSURER MEMBERS OF A HOLDING COMPANY GROUP
PART 1 - ORGANIZATIONAL CHART
20%
Terence N. Deeks
80%
The Navigators Group, Inc.
and Family
Public Stockholders
(Delaware Corporation)
13-3138397
Navigators Insurance Company
(New York Corporation)
42307
Navigators Management Company, Inc.
Navigators Holdings (UK) Ltd.
13-3138390
13-2771091
(United Kingdom Corporation)
76-0657371
Navigators Underwriting Agency Ltd.
Navigators Insurance Company
United Kingdom Branch
Navigators Special Risk, Inc.
11
Navigators Specialty Insurance Company
36056
Navigators California Insurance Services, Inc.
13-3536448
(California Corporation)
94-3105355
Navigators Management (UK) Ltd.
Millennium Underwriting Ltd.
Navigators Underwriting Ltd.
Navigators N.V.
(Belgian Corporation)
Navigators Corporate Underwriters Ltd.
Note: All direct and indirect subsidiaries of The Navigators Group, Inc. are 100% owned.
PART 1 - LOSS EXPERIENCE
Lines of Business
1
Direct Premiums
Earned
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
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
30.
Warranty
31.
Reinsurance - Nonproportional Assumed Property
32.
Reinsurance - Nonproportional Assumed Liability
33.
Reinsurance - Nonproportional Assumed Financial Lines
34.
Aggregate write-ins for other lines of business
35.
TOTALS
3401.
3402.
3403.
3499. Totals (Lines 3401 through 3403 plus 3498) (Line 34 above)
Current Year to Date
2
Direct Losses
Incurred
4
Prior Year to
Date Direct Loss
Percentage
3
Direct Loss
Percentage
1,658,962
2,511,778
151.4
33.2
477,784
151,024
215,321
43,319
45.1
28.7
53.3
45,560,566
3,942,783
11,824,038
57,339
26.0
1.5
27.8
(155.6)
XXX
XXX
XXX
XXX
XXX
XXX
51,791,119
14,651,795
XXX
XXX
XXX
XXX
XXX
XXX
28.3
14.9
14.9
PART 2 - DIRECT PREMIUMS WRITTEN
1
Current
Quarter
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
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
30.
Warranty
31.
Reinsurance - Nonproportional Assumed Property
32.
Reinsurance - Nonproportional Assumed Liability
33.
Reinsurance - Nonproportional Assumed Financial Lines
34.
Aggregate write-ins for other lines of business
35.
TOTALS
3401.
3402.
3403.
3499. Totals (Lines 3401 through 3403 plus 3498) (Line 34 above)
12
2
Current
Year to Date
3
Prior Year
Year to Date
569,268
569,268
4,339,551
594,031
497,723
594,031
497,723
527,337
37,707,462
2,595,313
37,707,462
2,595,313
58,729,807
4,078,654
XXX
XXX
XXX
XXX
XXX
XXX
XXX
XXX
XXX
41,963,797
41,963,797
67,675,349
PART 3 (000 omitted)
LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES SCHEDULE
1
Years in Which
Losses Occurred
2
3
4
Prior Year-End
Known Case Loss
and LAE Reserves
Prior Year-End
IBNR
Loss and LAE
Reserves
Total Prior
Year-End Loss
and LAE
Reserves
(Cols. 1 + 2)
2008 Loss and
LAE Payments on
Claims Reported
as of Prior
Year-End
XXX
XXX
XXX
XXX
5
2008 Loss and
LAE Payments on
Claims
Unreported
as of Prior
Year-End
6
Total 2008 Loss
and LAE
Payments
(Cols. 4 + 5)
7
8
Q.S. Date Known
Case Loss and
LAE Reserves on
Claims Reported
and open as of
Prior Year-End
Q.S. Date Known
Case Loss and
LAE Reserves on
Claims Reported
or reopened
Subsequent to
Prior Year-End
9
Q.S. Date IBNR
Loss and LAE
Reserves
10
11
12
13
Total Q.S. Loss
and LAE
Reserves
(Cols.7 + 8 + 9)
Prior Year-End
Known Case Loss
and LAE Reserves
Developed
(Savings)/
Deficiency
(Cols. 4 + 7
minus Col. 1)
Prior Year-End
IBNR Loss and
LAE Reserves
Developed
(Savings)/
Deficiency
(Cols. 5 + 8 + 9
minus Col. 2)
Prior Year-End
Total Loss and
LAE Reserve
Developed
(Savings)/
Deficiency
(Cols. 11 + 12)
XXX
XXX
XXX
Col. 11, Line 7
As % of Col. 1
Line 7
Col. 12, Line 7
As % of Col. 2
Line 7
Col. 13, Line 7
As % of Col. 3
Line 7
1. 2005 + Prior
2. 2006
3. Subtotals 2006 +
Prior
4. 2007
5. Subtotals 2007 +
Prior
13
6. 2008
XXX
7. Totals
8. Prior Year-End’s
Surplus As
Regards
Policyholders
110,407
1.
2.
3.
Col. 13, Line 7
As a % of Col. 1
Line 8
4.
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES
The following supplemental reports are required to be filed as part of your 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 of NO to the specific interrogatory will be accepted in lieu of filing on “NONE” report and a bar code will be printed below. If
the supplement is required of your company but is not being filed for whatever reason enter SEE EXPLANATION and provide an explanation following the interrogatory question.
RESPONSE
1.
Will the Trusteed Surplus Statement be filed with the state of domicile and the NAIC with this statement?
NO
2.
Will Supplement A to Schedule T (Medical Malpractice Supplement) be filed with this statement?
NO
3.
Will the Medicare Part D Coverage Supplement be filed with the state of domicile and the NAIC with this statement?
NO
Explanation:
1.
2.
3.
Bar Code:
1.
*36056200849000001*
2.
*36056200845500001*
3.
*36056200836500001*
14
OVERFLOW PAGE FOR WRITE-INS
PQ010 Additional Aggregate Lines for Page 10 Line 58.
*SCT
1
2
Active
Current Year
Status
To Date
XXX
5804. Spain
5897. Summary of remaining writeXXX
ins for Line 58 from Page 10
3
Prior Year
To Date
15
4
Current Year
To Date
5
Prior Year
To Date
6
Current Year
To Date
7
Prior Year
To Date
2,035
7
2,035
7
SCHEDULE A - VERIFICATION
Real Estate
1
NONE
Year to Date
2
Prior Year Ended
December 31
1. Book/adjusted carrying value, December 31 of prior year
2. Cost of acquired:
2.1 Actual cost at time of acquisitions
2.2 Additional investment made after acquisitions
3. Current year change in encumbrances
4. Total gain (loss) on disposals
5. Deduct amounts received on disposals
6. Total foreign exchange change in book/adjusted carrying value
7. Deduct current year’s other than temporary impairment recognized
8. Deduct current year’s depreciation
9. Book/adjusted carrying value at the end of current period (Lines 1+2+3+4-5+6-7-8)
10. Deduct total nonadmitted amount
11. Statement value at end of current period (Line 9 minus Line 10)
SCHEDULE B – VERIFICATION
Mortgage Loans
1
NONE
Year to Date
2
Prior Year Ended
December 31
1. Book value/recorded investment excluding accrued interest, December 31 of prior year
3. Capitalized deferred interest and other
4. Accrual of discount
5. Unrealized valuation increase (decrease)
8. Deduct amortization of premium and mortgage interest points and commitment fees
9. Total foreign exchange change in book value/recorded investment excluding accrued interest
11. Book value/recorded investment excluding accrued interest at end of current period (Lines 1+2+3+4+5+6-78+9-10)
12. Deduct total nonadmitted accounts
SCHEDULE BA – VERIFICATION
Other Long Term Invested Assets
1
NONE
Year to Date
2
Prior Year Ended
December 31
3. Capitalized deferred interest and other
8. Deduct amortization of premium and depreciation
11. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5+6-7-8+9-10)
12. Deduct total nonadmitted amounts
SCHEDULE D – VERIFICATION
Bonds and Stocks
1
Year to Date
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
Book/adjusted carrying value of bonds and stocks, December 31 of prior year
Cost of bonds and stocks acquired
Accrual of discount
Unrealized valuation increase (decrease)
Total gain (loss) on disposals
Deduct consideration for bonds and stocks disposed of
Deduct amortization of premium
Total foreign exchange change in book/adjusted carrying value
Deduct current year’s other than temporary impairment recognized
Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)
Deduct total nonadmitted amounts
Statement value at end of current period (Line 10 minus Line 11)
SI01
108,792,280
26,230
15,722
18,050
2,287,979
60,733
2
Prior Year Ended
December 31
105,789,943
24,900,581
112,764
23,957
(95,041)
21,675,366
264,558
106,503,570
108,792,280
106,503,570
108,792,280
SCHEDULE D - PART 1B
1
Book/Adjusted
Carrying Value
Beginning of
Current Quarter
Showing the Acquisitions, Dispositions and Non-Trading Activity
During the Current Quarter for all Bonds and Preferred Stock by Rating Class
2
3
4
5
Non-Trading
Book/Adjusted
Acquisitions
Dispositions
Activity
Carrying Value
During
During
During
End of
Current Quarter
Current Quarter
Current Quarter
First Quarter
6
Book/Adjusted
Carrying Value
End of
Second Quarter
7
Book/Adjusted
Carrying Value
End of
Third Quarter
8
Book/Adjusted
Carrying Value
December 31
Prior Year
BONDS
1. Class 1 (a)
99,696,403
2. Class 2 (a)
8,989,905
4,487,067
2,984,751
285,178
194,270
101,392,989
99,696,403
8,605,859
8,989,905
108,686,308
(98,868)
3. Class 3 (a)
4. Class 4 (a)
5. Class 5 (a)
6. Class 6 (a)
7. Total Bonds
SI02
108,686,308
4,487,067
3,269,929
95,402
109,998,848
108,686,308
4,487,067
3,269,929
95,402
109,998,848
PREFERRED STOCK
8. Class 1
9. Class 2
10. Class 3
11. Class 4
12. Class 5
13. Class 6
14. Total Preferred Stock
15. Total Bonds and Preferred Stock
(a) Book/Adjusted Carrying Value column for the end of the current reporting period includes the following amount of non-rated short-term and cash equivalent bonds by NAIC designation: NAIC 1 $
NAIC 4 $
; NAIC 5 $
; NAIC 6 $
108,686,308
3,495,278 ; NAIC 2 $
; NAIC 3 $
;
SCHEDULE DA - PART 1
Short-Term Investments Owned End of Current Quarter
1
2
3
4
Book/Adjusted
Carrying Value
Par Value
Actual Cost
Interest Collected
Year To Date
8299999 Totals
5
Paid for Accrued
Interest
Year To Date
XXX
SCHEDULE DA - VERIFICATION
Short-Term Investments
1
Year To Date
2
Prior Year Ended
December 31
1,236,406
2. Cost of short-term investments acquired
1,208
57
1,237,672
6. Deduct consideration received on disposals
7. Deduct amortization of premium
10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)
SI03
Schedule DB - Part F - Section 1
NONE
Schedule DB - Part F - Section 2
NONE
SI04, SI05
SCHEDULE E-VERIFICATION
(Cash Equivalents)
1
2
Prior Year Ended
December 31
Year To Date
4,487,067
2. Cost of cash equivalents
8,210
1,000,000
6. Deduct consideration received on disposals
7. Deduct amortization of premium
10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)
3,495,277
3,495,277
SI06
Schedule A - Part 2
NONE
Schedule A - Part 3
NONE
Schedule B - Part 2
NONE
Schedule B - Part 3
NONE
Schedule BA - Part 2
NONE
Schedule BA - Part 3
NONE
Schedule D - Part 3
NONE
E01, E02, E03, E04
SCHEDULE D - PART 4
Show All Long-Term Bonds and Stock Sold, Redeemed or Otherwise Disposed of by the Company During the Current Quarter
1
2
3
4
5
6
7
8
9
Change in Book/Adjusted Carrying Value
10
11
CUSIP
Identification
36200F-MD-7
36200J-Q8-6
36201U-V5-0
36202T-6D-3
36205R-WN-3
36208V-QL-2
36213F-MH-3
36241K-J6-6
36290S-QB-0
36290V-ZR-8
36291C-DQ-5
E05
36291G-SB-3
36291L-J4-8
36291R-AC-6
36291S-RN-2
0399999 3128JR-JE-7
3128K0-QC-0
3128K1-3U-3
3128K1-TJ-0
3128K2-6A-2
3128K2-BL-2
3128K2-C2-3
3128PB-LT-9
31296S-D3-7
31297U-SZ-4
31340Y-CS-6
31371K-2T-7
31371K-4F-5
31371L-SD-2
31371L-TP-4
31371L-WN-5
31376K-UH-7
Description
GOVERNMENT NATL MTG ASSOC
#599856
#602679
#593836
#609368
#398553
#462259
#553060
#782085
#616150
#619152
#623911
#627914
#631283
#635503
#636893
Bonds - U.S. Governments
FEDERAL HOME LOAN MTG
CORP #847461
CORP #A40451
CORP #A41711
CORP #A41453
CORP #A42665
CORP #A41843
CORP #A41889
CORP #J00338
CORP #A17322
CORP #A38636
CORP 10 E
FEDERAL NATIONAL MTG
ASSOC #254686
ASSOC #254722
ASSOC #255316
ASSOC #255358
ASSOC #255453
ASSOC #357984
F
o
r
e
i
g
n
Disposal
Date
Name of Purchaser
Number of
Shares of
Stock
Consideration
Par Value
Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
Unrealized
Valuation
Increase/
(Decrease)
12
13
16
14
18
19
20
Total Gain
(Loss) on
Disposal
Bond
Interest/Stock
Dividends
Received
During Year
21
22
Maturity
Date
NAIC
Designation
or
Market
Indicator
(a)
15
Current Year’s
Other Than
Current Year’s
Temporary
Total Change in
(Amortization)/
Impairment
B./A.C.V.
Accretion
Recognized
(11 + 12 - 13)
PAYDOWN
17,596
17,596
18,027
17,607
17,596
169
04/01/2032
1
03/01/2008
PAYDOWN
2,393
2,393
2,505
2,394
2,393
36
11/01/2032
1
03/01/2008
PAYDOWN
1,249
1,249
1,287
1,249
1,249
13
04/01/2032
1
03/01/2008
PAYDOWN
566
566
592
566
566
6
12/01/2032
1
03/01/2008
PAYDOWN
709
709
723
709
709
7
06/01/2022
1
03/01/2008
PAYDOWN
460
460
469
460
460
5
04/01/2028
1
03/01/2008
PAYDOWN
5,719
5,719
5,860
5,721
(1)
(1)
5,719
62
02/01/2032
1
03/01/2008
PAYDOWN
1,633
1,633
1,691
1,634
(1)
(1)
1,633
19
05/01/2028
1
03/01/2008
PAYDOWN
16,529
16,529
16,856
16,533
(5)
(5)
16,529
221
01/01/2033
1
03/01/2008
PAYDOWN
912
912
930
912
912
9
01/01/2034
1
03/01/2008
PAYDOWN
3,867
3,867
3,943
3,867
3,867
56
04/01/2034
1
03/01/2008
PAYDOWN
1,602
1,602
1,634
1,602
1,602
16
08/01/2033
1
03/01/2008
PAYDOWN
1,498
1,498
1,527
1,498
1,498
15
08/01/2034
1
03/01/2008
PAYDOWN
302
302
308
302
302
3
09/01/2033
1
03/01/2008
PAYDOWN
10,473
65,506
10,473
65,506
10,680
67,030
10,473
65,525
(18)
(18)
10,473
65,506
105
740
05/01/2034
XXX
1
XXX
8
8
29,380
317
10/01/2034
1
2,143
18
07/01/2035
1
5,383
45
08/01/2035
1
1,746
13
01/01/2033
1
296
07/01/2035
1
VARIOUS
29,380
29,380
29,050
29,372
03/01/2008
PAYDOWN
2,143
2,143
2,076
2,143
03/01/2008
PAYDOWN
5,383
5,383
5,213
5,382
03/01/2008
PAYDOWN
1,746
1,746
1,691
1,746
03/01/2008
PAYDOWN
25,195
25,195
24,402
25,187
03/01/2008
PAYDOWN
649
649
629
649
03/01/2008
PAYDOWN
13,828
13,828
13,393
03/01/2008
PAYDOWN
151,492
151,492
03/01/2008
PAYDOWN
53,418
03/01/2008
PAYDOWN
03/15/2008
1
(11)
Total Foreign
Exchange
Change in
B./A.C.V.
Book/
Adjusted
Foreign
Carrying Value Exchange Gain Realized Gain
at
(Loss) on
(Loss) on
Disposal Date
Disposal
Disposal
03/01/2008
03/15/2008
(11)
17
1
8
8
25,195
649
5
10/01/2035
1
13,824
4
4
13,828
169
06/01/2035
1
147,421
151,421
72
72
151,492
1,239
05/01/2020
1
53,418
53,965
53,423
(5)
(5)
53,418
558
01/01/2033
1
6,315
6,315
6,117
6,314
2
2
6,315
47
04/01/2035
1
VARIOUS
2,138
2,138
2,419
2,036
102
102
2,138
60
06/15/2018
1
03/01/2008
PAYDOWN
1,735
1,735
1,794
1,736
(1)
(1)
1,735
16
08/01/2017
1
03/01/2008
PAYDOWN
1,526
1,526
1,578
1,527
(1)
(1)
1,526
15
09/01/2017
1
03/01/2008
PAYDOWN
17,729
17,729
17,578
17,726
3
3
17,729
159
12/01/2018
1
03/01/2008
PAYDOWN
19,640
19,640
19,472
19,636
4
4
19,640
182
02/01/2019
1
03/01/2008
PAYDOWN
12,767
12,767
12,659
12,765
2
2
12,767
108
05/01/2019
1
03/01/2008
PAYDOWN
13,641
13,641
13,525
13,639
2
2
13,641
112
02/01/2020
1
SCHEDULE D - PART 4
1
2
3
4
5
6
7
8
9
10
11
CUSIP
Identification
31377R-UR-9
31377S-PR-3
31377S-S5-8
31377T-FV-3
31385H-4D-1
31385J-BQ-0
31385W-WH-8
31385W-YS-2
31385X-N3-7
31385X-Q9-1
31389B-KN-0
E05.1
31390V-LA-0
31391D-NX-7
31391W-GQ-8
31392B-NQ-5
31393R-ZN-3
31393V-A6-8
31395N-GR-2
31400D-EU-2
31400D-ZH-8
31400E-GL-8
31400H-KM-4
31400S-BV-0
31401J-C2-2
31401W-JR-1
31402C-5R-9
31402D-D9-8
31402D-EV-8
31402K-VX-9
31402R-TJ-8
31403L-KG-5
31403N-TY-3
31404D-YR-3
Description
ASSOC #384992
ASSOC #385732
ASSOC #385840
ASSOC #386380
ASSOC #545420
ASSOC #545547
ASSOC #555148
ASSOC #555221
ASSOC #555810
ASSOC #555880
ASSOC #620501
ASSOC #657421
ASSOC #663806
ASSOC #678907
ASSOC 01 81 PE
CORP 2627 BG
CORP 2634 TA
ASSOC 06 53 PA
ASSOC #684247
ASSOC #684844
ASSOC #685203
ASSOC #688000
ASSOC #695852
ASSOC #709389
ASSOC #720372
ASSOC #725456
ASSOC #725628
ASSOC #725648
ASSOC #731530
ASSOC #735953
ASSOC #751895
ASSOC #753967
ASSOC #765820
F
o
r
e
i
g
n
Disposal
Date
Name of Purchaser
Number of
Shares of
Stock
Consideration
Par Value
Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
Unrealized
Valuation
Increase/
(Decrease)
12
13
16
14
17
18
19
20
Total Gain
(Loss) on
Disposal
Bond
Interest/Stock
Dividends
Received
During Year
21
22
Maturity
Date
NAIC
Designation
or
Market
Indicator
(a)
15
Current Year’s
Other Than
Current Year’s
Temporary
Total Change in
(Amortization)/
Impairment
B./A.C.V.
Accretion
Recognized
(11 + 12 - 13)
Total Foreign
Exchange
Change in
B./A.C.V.
Book/
Adjusted
Foreign
at
(Loss) on
(Loss) on
Disposal Date
Disposal
Disposal
03/01/2008
PAYDOWN
924
924
973
925
(1)
(1)
924
10
03/01/2012
1
03/01/2008
PAYDOWN
2,161
2,161
2,234
2,162
(1)
(1)
2,161
18
12/01/2009
1
03/01/2008
PAYDOWN
800
800
822
801
800
7
12/01/2012
1
03/01/2008
PAYDOWN
1,188
1,188
1,136
1,187
1
1
1,188
9
06/01/2013
1
03/01/2008
PAYDOWN
761
761
825
762
(1)
(1)
761
8
11/01/2011
1
03/01/2008
PAYDOWN
1,022
1,022
1,165
1,025
(2)
(2)
1,022
11
01/01/2012
1
03/01/2008
PAYDOWN
4,401
4,401
4,412
4,402
4,401
39
12/01/2012
1
03/01/2008
PAYDOWN
490
490
554
491
(1)
(1)
490
6
01/01/2011
1
03/01/2008
PAYDOWN
1,871
1,871
1,935
1,873
(2)
(2)
1,871
16
12/01/2016
1
03/01/2008
PAYDOWN
12,604
12,604
12,775
12,605
(2)
(2)
12,604
125
07/01/2032
1
03/01/2008
PAYDOWN
2,353
2,353
2,433
2,354
(1)
(1)
2,353
22
09/01/2016
1
03/01/2008
PAYDOWN
3,863
3,863
3,994
3,866
(2)
(2)
3,863
34
12/01/2016
1
03/01/2008
PAYDOWN
1,042
1,042
1,077
1,042
(1)
(1)
1,042
10
03/01/2017
1
03/01/2008
PAYDOWN
41,054
41,054
41,045
41,054
41,054
300
02/01/2032
1
03/01/2008
PAYDOWN
32,334
32,334
31,818
32,309
24
24
32,334
353
02/01/2009
1
03/01/2008
PAYDOWN
7,574
7,574
7,266
7,566
8
8
7,574
42
08/01/2014
1
03/01/2008
PAYDOWN
14,301
14,301
13,736
14,287
15
15
14,301
87
08/01/2014
1
03/01/2008
PAYDOWN
66,144
66,144
65,930
66,138
6
6
66,144
605
07/01/2011
1
03/01/2008
PAYDOWN
3,795
3,795
3,924
3,798
(3)
(3)
3,795
38
04/01/2017
1
03/01/2008
PAYDOWN
2,251
2,251
2,328
2,252
(1)
(1)
2,251
20
08/01/2017
1
03/01/2008
PAYDOWN
46,281
46,281
47,854
46,319
(38)
(38)
46,281
452
07/01/2017
1
03/01/2008
PAYDOWN
11,035
11,035
11,410
11,041
(6)
(6)
11,035
82
08/01/2017
1
03/01/2008
PAYDOWN
5,931
5,931
6,069
5,935
(4)
(4)
5,931
55
10/01/2017
1
03/01/2008
PAYDOWN
1,975
1,975
2,042
1,976
(1)
(1)
1,975
18
09/01/2017
1
03/01/2008
PAYDOWN
6,123
6,123
6,264
6,126
(3)
(3)
6,123
48
12/01/2017
1
03/01/2008
PAYDOWN
1,034
1,034
1,000
1,034
1,034
9
08/01/2033
1
03/01/2008
PAYDOWN
95,624
95,624
94,485
95,623
2
2
95,624
348
05/01/2009
1
03/01/2008
PAYDOWN
5,815
5,815
5,766
5,814
1
1
5,815
49
11/01/2018
1
03/01/2008
PAYDOWN
3,571
3,571
3,692
3,575
(4)
(4)
3,571
38
12/01/2017
1
03/01/2008
PAYDOWN
1,170
1,170
1,174
1,171
1,170
10
05/01/2015
1
03/01/2008
PAYDOWN
402
402
399
402
402
3
06/01/2018
1
03/01/2008
PAYDOWN
12,173
12,173
12,455
12,185
(12)
(12)
12,173
125
04/01/2018
1
03/01/2008
PAYDOWN
11,001
11,001
10,907
11,000
1
1
11,001
93
06/01/2018
1
SCHEDULE D - PART 4
1
2
3
4
5
6
7
8
9
10
11
CUSIP
Identification
31404K-PE-6
31406W-ZW-7
31407F-J9-2
31407J-7J-5
31407V-NA-9
31407X-QW-4
31408A-AJ-9
31408E-VQ-2
31408F-6B-0
31410C-TY-8
31411B-HV-8
E05.2
31411E-JV-0
31411E-MQ-7
31411L-2E-0
31412B-JX-1
31412D-MK-1
31413H-JU-3
38373M-AN-0
38373M-AW-0
38373M-BY-5
3199999 02209S-AA-1
03061N-HX-0
07387A-AW-5
12668B-EG-4
126694-VM-7
126694-WE-4
12669G-HY-0
12669G-NL-1
17307G-6K-9
201730-AC-2
36185M-BJ-0
45254N-ML-8
59020U-2H-7
Description
ASSOC #770921
ASSOC #822557
ASSOC #829288
ASSOC #832597
ASSOC #841985
ASSOC #843869
ASSOC #845209
ASSOC #849423
ASSOC #850566
ASSOC #885367
ASSOC #903044
ASSOC #905776
ASSOC #905867
ASSOC #911673
ASSOC #920178
ASSOC #922062
ASSOC #945875
01 34 B
01 44 C
02 35 C
Bonds - Special Revenues
ALTRIA GROUP INC
AMERICREDIT AUTO RECV TR
05 AX A4
BEAR STEARNS ADJUSTABLE
RATE 05 3 2A1
COUNTRYWIDE ALT LN TR 05
85CB 2A2
COUNTRYWIDE HOME LOANS 05
HY10 3A1A
HYB1 1A1
29 1A1
7 1A1
CITIGROUP MTG LN TR INC
06 AR2 1A1
COMMERCIAL MTG ASSET TR
99 C1 A3
GMAC MTG CORP LN TR 05
AR6 2A1
IMPAC CMB TR 05 1 1A1
MERRILL LYNCH MTG INV INC
05 A9 2A1E
F
o
r
e
i
g
n
Disposal
Date
Name of Purchaser
Number of
Shares of
Stock
Consideration
Par Value
Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
Unrealized
Valuation
Increase/
(Decrease)
12
13
16
14
17
18
19
20
Total Gain
(Loss) on
Disposal
Bond
Interest/Stock
Dividends
Received
During Year
21
22
Maturity
Date
NAIC
Designation
or
Market
Indicator
(a)
15
Current Year’s
Other Than
Current Year’s
Temporary
Total Change in
(Amortization)/
Impairment
B./A.C.V.
Accretion
Recognized
(11 + 12 - 13)
Total Foreign
Exchange
Change in
B./A.C.V.
Book/
Adjusted
Foreign
at
(Loss) on
(Loss) on
Disposal Date
Disposal
Disposal
03/01/2008
PAYDOWN
20,573
20,573
20,398
20,571
2
2
20,573
108
12/01/2018
1
03/01/2008
PAYDOWN
9,090
9,090
9,013
9,089
1
1
9,090
56
07/01/2020
1
03/01/2008
PAYDOWN
84,250
84,250
83,382
84,245
5
5
84,250
893
03/01/2035
1
03/01/2008
PAYDOWN
265,520
265,520
268,798
265,626
265,520
3,458
06/01/2035
1
03/01/2008
PAYDOWN
5,185
5,185
5,141
5,185
5,185
44
05/01/2020
1
03/01/2008
PAYDOWN
7,679
7,679
7,613
7,678
1
1
7,679
64
06/01/2020
1
03/01/2008
PAYDOWN
27,175
27,175
26,347
27,168
7
7
27,175
271
05/01/2035
1
03/01/2008
PAYDOWN
5,627
5,627
5,579
5,627
5,627
34
08/01/2020
1
03/01/2008
PAYDOWN
1,215
1,215
1,175
1,214
1,215
11
07/01/2035
1
03/01/2008
PAYDOWN
350
350
338
350
350
2
03/01/2036
1
03/01/2008
PAYDOWN
1,479
1,479
1,430
1,478
15
08/01/2036
1
03/01/2008
PAYDOWN
915
915
884
914
03/01/2008
PAYDOWN
4,193
4,193
4,056
03/01/2008
PAYDOWN
3,525
3,525
03/01/2008
PAYDOWN
38
03/01/2008
PAYDOWN
03/01/2008
(106)
1
(106)
1
1
1
1,479
915
7
07/01/2036
1
4,193
1
1
4,193
37
07/01/2036
1
3,410
3,525
1
1
3,525
29
12/01/2036
1
38
36
38
04/01/2036
1
3,406
3,406
3,294
3,405
1
1
3,406
28
11/01/2036
1
PAYDOWN
13,944
13,944
13,333
13,936
8
8
13,944
163
05/01/2037
1
03/01/2008
PAYDOWN
16,437
16,437
16,437
16,437
16,437
175
07/01/2009
1
03/01/2008
PAYDOWN
166,442
166,442
166,442
166,442
166,442
1,850
02/01/2011
1
03/01/2008
PAYDOWN
03/05/2008
TENDER OFFER
38,024
1,436,864
203,228
38,024
1,436,864
175,000
37,956
1,431,941
188,494
38,021
1,436,764
185,447
348
14,041
6,305
11/01/2009
XXX
11/04/2013
1
XXX
2FE
03/06/2008
PAYDOWN
99,702
99,702
97,531
03/01/2008
PAYDOWN
19,758
19,758
19,616
03/01/2008
PAYDOWN
70,110
70,110
70,096
03/01/2008
PAYDOWN
15,574
15,574
03/01/2008
PAYDOWN
37,441
03/25/2008
PAYDOWN
758
03/25/2008
PAYDOWN
03/01/2008
38
3
99
(269)
3
99
(269)
99,581
121
121
99,702
749
02/06/2009
1FE
19,757
1
1
19,758
156
05/01/2035
1FE
70,110
70,110
643
03/01/2013
1FE
15,574
15,574
15,574
127
11/01/2012
1FE
37,441
37,219
37,438
37,441
328
07/01/2011
1FE
758
758
758
758
5
01/25/2035
1FE
2,214
2,214
2,214
2,214
2,214
16
04/25/2008
1FE
PAYDOWN
32,975
32,975
32,916
32,975
1
1
32,975
363
12/01/2011
1FE
03/11/2008
PAYDOWN
7,030
7,030
7,934
7,057
(28)
(28)
7,030
87
02/11/2010
1FE
03/01/2008
03/25/2008
PAYDOWN
PAYDOWN
16,167
2,536
16,167
2,536
16,136
2,536
16,166
2,536
16,167
2,536
176
17
11/01/2014
09/25/2016
1FE
1FE
03/01/2008
PAYDOWN
21,038
21,038
20,910
21,036
21,038
212
11/01/2012
1FE
3
3
3
3
38,024
1,436,864
185,178
18,050
18,050
SCHEDULE D - PART 4
1
2
3
4
5
6
7
8
9
10
11
CUSIP
Identification
59020U-NZ-4
59020U-QC-2
59020U-TB-1
590219-AE-1
59025G-AA-9
61913P-AP-7
61913P-AR-3
706451-AA-9
81744F-FJ-1
81744F-FY-8
81744F-GM-3
84474Y-AA-4
E05.3
94981N-AH-8
94983V-AF-2
4599999 6099997 6099999 6599999 7299999 7399999 -
F
o
r
e
i
g
n
Disposal
Date
Description
MLCC MTG INVEST INC 04 G
A1
03/25/2008
MERRILL LYNCH MTG INV INC
05 A1 1A
03/01/2008
MLCC MTG INVEST INC 05 A
A1
03/25/2008
MLCC MTG INVEST INC 06 2
2A
03/01/2008
MERRILL LYNCH MORTGAGE
BACKED 07 2 1A1
03/01/2008
MORTGAGEIT TRUST 05 1 1A1
03/25/2008
MORTGAGEIT TRUST 05 1 2A
03/01/2008
PEMEX PROJECT FUNDING
MASTER TR
02/15/2008
SEQUOIA MORTGAGE TRUST 04
11 A1
03/20/2008
12 A1
03/20/2008
1 A1
03/20/2008
SOUTHWEST AIRLINES CO
02/01/2008
WELLS FARGO MTG BKD SECS
03/01/2008
TR 05 AR4 2A2
WELLS FARGO MTG BKD SECS
TR 06 AR8 2A1
03/01/2008
Bonds - Industrial and Miscellaneous
Bonds - Part 4
Total - Bonds
Total - Preferred Stocks
Total - Common Stocks
Total - Preferred and Common Stocks
Name of Purchaser
Number of
Shares of
Stock
Consideration
Par Value
Actual Cost
Prior Year
Book/Adjusted
Carrying
Value
Unrealized
Valuation
Increase/
(Decrease)
12
13
16
14
17
18
19
20
Total Gain
(Loss) on
Disposal
Bond
Interest/Stock
Dividends
Received
During Year
21
22
Maturity
Date
NAIC
Designation
or
Market
Indicator
(a)
15
Current Year’s
Other Than
Current Year’s
Temporary
Total Change in
(Amortization)/
Impairment
B./A.C.V.
Accretion
Recognized
(11 + 12 - 13)
Total Foreign
Exchange
Change in
B./A.C.V.
Book/
Adjusted
Foreign
at
(Loss) on
(Loss) on
Disposal Date
Disposal
Disposal
PAYDOWN
2,743
2,743
2,743
2,743
2,743
19
09/25/2008
1FE
PAYDOWN
22,272
22,272
22,060
22,272
22,272
194
12/01/2010
1FE
PAYDOWN
5,274
5,274
5,274
5,274
5,274
31
11/25/2008
1FE
PAYDOWN
24,527
24,527
24,345
24,524
2
2
24,527
233
05/01/2014
1FE
PAYDOWN
PAYDOWN
PAYDOWN
21,930
5,677
7,417
21,930
5,677
7,417
21,693
5,682
7,315
21,925
5,678
7,414
5
(1)
4
5
(1)
4
21,930
5,677
7,417
208
40
50
11/01/2011
08/25/2017
02/01/2010
1FE
1FE
1FE
MATURITY
(489)
(489)
100,000
100,000
115,250
100,489
100,000
4,250
02/15/2008
2FE
PAYDOWN
1,761
1,761
1,761
1,761
1,761
13
07/20/2009
1FE
PAYDOWN
1,832
1,832
1,832
1,832
1,832
16
04/20/2009
1FE
PAYDOWN
SINKING FUND REDEMPTION
3,929
1,472
3,929
1,472
3,929
1,472
3,929
1,472
3,929
1,472
25
30
06/20/2009
08/01/2022
1FE
1FE
PAYDOWN
30,073
30,073
29,390
30,054
19
19
30,073
238
06/01/2011
1FE
PAYDOWN
28,173
785,609
2,287,979
2,287,979
28,173
757,382
2,259,751
2,259,751
XXX
XXX
XXX
27,911
782,589
2,281,560
2,281,560
28,170
768,185
2,270,475
2,270,475
3
(626)
(546)
(546)
3
(626)
(546)
(546)
28,173
767,559
2,269,929
2,269,929
18,050
18,050
18,050
18,050
18,050
18,050
265
14,796
29,577
29,577
11/01/2011
XXX
XXX
XXX
XXX
XXX
XXX
1FE
XXX
XXX
XXX
XXX
XXX
XXX
2,270,475
(546)
(546)
2,269,929
18,050
18,050
29,577
XXX
XXX
7499999 Totals
(a) For all common stock bearing the NAIC market indicator "U" provide: the number of such issues
2,287,979
XXX
2,281,560
.
Schedule DB - Part A - Section 1
NONE
Schedule DB - Part B - Section 1
NONE
Schedule DB - Part C - Section 1
NONE
Schedule DB - Part D - Section 1
NONE
E06, E07
SCHEDULE E - PART 1 - CASH
1
Depository
BBH MONEY MARKET FUND
NEW YORK, NEW YORK
BROWN BROTHERS HARRIMAN
NEW YORK, NEW YORK
0199998 Deposits in
depositories that do
not exceed the allowable limit in any one depository
(see Instructions) - Open Depositories
0199999 Totals - Open Depositories
0399999 Total Cash on Deposit
0499999 Cash in Company’s Office
0599999 Total Cash
Month End Depository Balances
2
3
4
Amount of
Interest
Received
During
Current
Quarter
12,638
Code
Rate
of
Interest
XXX
XXX
XXX
XXX
12,638
XXX
XXX
XXX
XXX
XXX
XXX
12,638
XXX
12,638
E08
5
Amount of
Interest
Accrued at
Current
Statement
Date
Book Balance at End of Each
Month During Current Quarter
6
7
8
First Month
1,246,600
1,006,891
9
*
Second Month Third Month
2,129,776
1,034,978 XXX
(8,876)
13,317 XXX
2,253,491
2,120,900
2,253,491
2,120,900
2,253,491
2,120,900
XXX
XXX
1,048,295 XXX
1,048,295 XXX
XXX
1,048,295 XXX
SCHEDULE E - PART 2 - CASH EQUIVALENTS
1
2
Description
Code
FEDERAL HOME LOAN MTG CORP 04/04/2008
FEDERAL HOME LOAN MTG CORP 05/16/2008
0199999 - U.S. Governments - Issuer Obligations
0399999 - Total - U.S. Government Bonds
5499999 - Total - Issuer Obligations
5599999 - Total - Single Class Mortgaged-Backed/Asset-Backed Securities
5699999 - Total - Defined Multi-Class Residential Mortgage-Backed Securities
5799999 - Total - Other Multi-Class Residential Mortgage-Backed Securities
5899999 - Total - Defined Multi-Class Commercial Mortgage-Backed Securities
5999999 - Other Multi-Class Commercial Mortgage Backed/Asset-Backed Securities
6099999 - Total - Bonds
3
Date
Acquired
02/20/2008
03/18/2008
Show Investments Owned End of Current Quarter
4
5
Rate of
Maturity
Interest
Date
2.789
04/04/2008
1.755
05/16/2008
6
Book/Adjusted
Carrying Value
7
Amount of Interest
Due & Accrued
8
Amount Received
During Year
4,749
1,361
6,110
6,110
6,110
3,495,278
6,110
3,495,278
6,110
E09
1,499,653
1,995,625
3,495,278
3,495,278
3,495,278
8799999 Totals

Q1 - Navigators Specialty Insurance Company

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