Source: NAIC Annual Statement Database viaHighline Data based on data available through mid-July.

The insurance data is derived principally from NationalAssociation of Insurance Commissioners statutory data.

Data for our report was retrieved from the Insurance Analyst PROonline product of Highline Data.

Unlike past years, this data includes direct premium and lossdata for some state funds (including the State CompensationInsurance Fund in California).

Highline Data, headquartered in Cambridge, Mass., is a providerof insurance industry financial performance data and educationalservices. Highline Data is part of Summit Business Media, parentcompany of National Underwriter.

Contact Chris Rogers at 877-299-9424 for more information.

Charts: Individual group and company directresults on the accompanying Top-50 and by-state charts werecalculated using premium, loss and expense data from the from statepages of the annual statement.

Net (of reinsurance) results on the Top-50 chart are from theInsurance Expense Exhibit of the annual statement.

Group premium changes include the impact of acquisitions. (Inother words, an individual company acquired in 2009 is included inthe 2009 group total but not the 2008 group total.)

Definitions: A pure loss ratio is the ratio ofincurred losses to earned premiums.

To calculate a loss and loss adjustment ratio, defense costs andother claims-handling costs are added to incurred losses beforedividing by earned premiums.

A combined ratio is essentially the sum of a loss and lossadjustment ratio and an expense ratio–which compares underwritingexpenses, such as commissions, to written premiums.

A ratio of policyholder dividends to earned premiums is alsodeducted.

Incurred losses used in loss ratio and combined ratiocalculations for any given calendar year consist of losses paid andreserves set up for claims that occurred during that year (currentaccident year incurred losses) and changes in loss reserves forclaims that occurred in prior years.