A.M. best stock indices, third quarter 2006.

(Dec. 31, 2004 = 1,000.00)

Index Summary

Quarter Ended 9/29/06

                                        Percent Change

                                      Index    Qtr/   Year/
                                      Close     Qtr    Year

Best's Insurance Composite Index   1,159.63    6.01    6.95
  Multi-Line Index (M)             1,079.81   10.86    8.61
  Property/Casualty Index (PC)     1,115.27    5.41    9.63
  Life/Health & HMO Index          1,283.05    3.99    5.10
    Life Index (L)                 1,315.28    2.20   15.57
    Health & HMO Index (H)         1,259.34    5.92   -3.64
  Brokers & Agents Index (B&A)     1,016.46    4.52   -0.95
NYSE Composite Index               8,469.65    3.68   10.96

                                                                 Qtr/
                                            Best's   Closing    Qtr %
                                   Ticker    Index     Price   Change

Top 10 Performers

 1. Mercer Insurance Group Inc       MIGP       PC     25.89    38.23
 2. Fairfax Financial Holdings
      Ltd                             FFH       PC    130.11    36.91
 3. Meadowbrook Insurance Group
      Inc                             MIG       PC     11.26    35.34
 4. Philadelphia Consolidated
      Holding Corp                   PHLY       PC     39.74    30.90
 5. Odyssey Re Holdings Corp          ORH       PC     33.78    28.20
 6. Specialty Underwriters'
      Alliance Inc                   SUAI       PC      8.30    24.25
 7. IPC Holdings Ltd                 IPCR       PC     30.42    23.36
 8. Humana Inc                        HUM        H     66.09    23.07
 9. Universal American Financial
      Corp                           UHCO        H     16.07    22.21
10. National Atlantic Holdings
      Corp                           NAHC       PC     11.45    21.81

Bottom 10 Performers

 1. Scottish Re Group Ltd             SCT        L     10.87   -34.83
 2. Direct General Corp              DRCT       PC     13.46   -20.45
 3. Atlantic American Corp           AAME        M      2.43   -18.46
 4. KMG America Corp                  KMA        H      7.35   -17.14
 5. Sierra Health Services Inc        SIE        H     37.84   -15.97
 6. PMA Capital Corp                PMACA       PC      8.82   -14.37
 7. SeaBright Insurance Holdings
      Inc                            SERB       PC     13.97   -13.28
 8. Ohio Casualty Corp               OCAS       PC     25.87   -12.98
 9. StanCorp Financial Group Inc      SFG        L     44.63   -12.34
10. Mercury General Corp              MCY       PC     49.61   -11.99

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

Source: A.M. Best Analytical Services Group