A.M. Best stock indices, second quarter 2006.

A.M. Best Stock Indices,
Second Quarter 2006
(Dec. 31, 2004 = 1,000.00)

Index Summary
Quarter Ended 6/30/06                      <---Percent Change--->

                                          Index     Qtr/     Year/
                                          Close      Qtr      Year

Best's Insurance Composite Index        1,093.84    -4.15      5.75
  Multi-Line Index (M)                    974.05    -6.29      1.49
  Property/Casualty Index (PC)          1,058.07     0.67      6.04
  Life/Health & HMO Index               1,233.77    -5.72      8.64
   Life Index (L)                       1,286.91     1.54     21.62
   Health & HMO Index (H)               1,188.91   -12.24     -1.89
  Brokers &Agents Index (B&A)             972.46   -10.88      9.89
NYSE Composite Index                    8,169.07    -0.78     13.18


                                                   Best's   Closing
Top 10 Performers                        Ticker    Index     Price

1. Tower Group Inc                         TWGP       PC      30.25
2. National Interstate Corporation         NATL       PC      27.12
3. Odyssey Re Holdings Corp                 ORH       PC      26.35
4. Meadowbrook Insurance Group Inc          MIG       PC       8.32
5. Affirmative Insurance Holdings Inc      AFFM       PC      15.65
6. American National Insurance Co          ANAT        M     129.72
7. Principal Financial Group Inc            PFG        L      55.65
8. Kentucky Investors Inc                  KINV        L      26.65
9. Ceres Group Inc                         CERG        H       6.22
10. Safeco Corp.                           SAFC       PC      56.35

Bottom 10 Performers

1. Scottish Re Group Ltd                    SCT        L      16.68
2. American Equity Investment
   Life Holding Co                          AEL        L      10.66
3. Cigna Corp.                               CI        H      98.51
4. Penn Treaty American Corp                PTA        H       7.38
5. UnitedHealth Group Inc                   UNH        H      44.78
6. Aetna Inc                                AET        H      39.93
7. White Mountains Insurance
   Group Ltd                                WTM       PC     487.00
8. Kansas City Life Insurance
   Company                                 KCLI        L      42.17
9. Zenith National Insurance                ZNT       PC      39.67
10. Bristol West Holdings Inc               BRW       PC      16.00

                                                    Qtr/
                                                   Qtr %
Top 10 Performers                        Ticker    Change

1. Tower Group Inc                         TWGP     30.95
2. National Interstate Corporation         NATL     24.69
3. Odyssey Re Holdings Corp                 ORH     21.43
4. Meadowbrook Insurance Group Inc          MIG     18.86
5. Affirmative Insurance Holdings Inc      AFFM     18.47
6. American National Insurance Co          ANAT     15.74
7. Principal Financial Group Inc            PFG     14.04
8. Kentucky Investors Inc                  KINV     13.89
9. Ceres Group Inc                         CERG     12.68
10. Safeco Corp.                           SAFC     12.23

Bottom 10 Performers

1. Scottish Re Group Ltd                    SCT    -32.77
2. American Equity Investment
   Life Holding                           CoAEL    -25.66
3. Cigna Corp.                               CI    -24.58
4. Penn Treaty American Corp                PTA    -20.04
5. UnitedHealth Group Inc                   UNH    -19.84
6. Aetna Inc                                AET    -18.74
7. White Mountains Insurance
   Group Ltd                                WTM    -18.08
8. Kansas City Life Insurance
   Company                                 KCLI    -17.70
9. Zenith National Insurance                ZNT    -17.58
10. Bristol West Holdings Inc               BRW    -16.88

(See bestreview.com for methodology and further detail
identifying the companies included in each index.)

Source: A.M. Best Analytical Services Group