Corporate Profile for MAIC Holdings, Inc., dated Sept. 27, 1996.

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Published Date:   Sept. 27, 1996

Company Name:     MAIC Holdings, Inc.

Address:          100 Brookwood Place, Suite 500
                  Birmingham, Alabama  35209-6811

Main Telephone
 Number:          205/877-4400 or 800/282-6242

Chief Executive
 Officer:         A. Derrill Crowe, M.D.

Chief Operating
 Officer:         Paul R. Butrus

Investor Relations
 Contact:         Frank B. O'Neil
 Business number: 205/877-4460
 Home number:     205/991-2731

Trading Symbol:   NYSE:MAI

Industry:         INSURANCE MEDICINE

Company description: Common shares outstanding at 12/31/95: 9,369,429

As of 12/31: (in millions, except per share data)

1995 1994 Assets: $720.5 $565.7 Total Revenue: 110.3 85.6 Net Premiums Earned: 76.0 61.4 Net Income: 29.7 24.8 Net EPS: $3.17 $2.63 Operating EPS $2.92 $2.62

High Low 1995 Trading Range  $35.25 $25.25

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    MAIC Holdings, Inc. (NYSE: MAI) of Birmingham, Alabama began
operations in April, 1977 as Mutual Assurance, Inc. a mutual insurer
operating solely in the state of Alabama.  Mutual Assurance converted
to a public, stock insurer in September, 1991, and formed it's
holding company, MAIC Holdings, Inc. in August of 1995.  From
inception until Sept. 20, 1996, the Company's stock traded on the
NASDAQ Exchange under the symbol MAIC, effective Sept. 23, 1996,
MAIC's stock began trading on the New York Stock Exchange under the
symbol MAI.
    MAIC Holdings, through its subsidiary companies, is nationally
recognized for its leadership in providing innovative, cost-effective
malpractice protection to physicians, hospitals, dentists, and health
care organizations through risk financing and insurance programs
which coordinate traditional insurance with effective clinical risk
management.  The Company and its insurance subsidiaries continue to
expand their insurance operations in response to the ever-changing
needs of health care professionals and facilities.  Additionally,
MAIC is expanding its writings by appointing selected agents in
states which it has identified as potentially profitable markets.
    MAIC Holdings is one of the largest professional liability
insurance companies in the nation, and the company has stated its
desire to continue expansion through acquisition or other business
combinations.  The Company has said it is engaged in discussions with
other medical professional liability insurers regarding such efforts
and that it intends to pursue these discussions as well as other
possible acquisitions or combinations.
    In addition to MAIC's main subsidiary, Mutual Assurance, Inc.,
the Company's subsidiaries include Medical Assurance of West Virginia
(formerly the West Virginia Hospital Insurance Company) acquired in
March of 1993 and Physicians Insurance Company of Indiana, acquired
in May of 1995; each subsidiary is rated A (Excellent) by A.M. Best.
    In July of 1995 MAIC purchased the professional liability
business of Physicians Insurance Company of Ohio.  In February of
1996 MAIC reached agreement in principal to acquire MOMED Holdings,
the parent company of Missouri Medical Insurance Company in St. Louis.

CONTACT: MAIC Holdings, Inc.