CAPTIVE REPORT: VERMONT, 20 LARGEST VERMOUNT-BASED GROUP CAPTIVES

20 largest Vermount-based group captives

Ranked by 1996 premium volume (in millions?)

Group captive Gross written Net Net

Parent(Manager) premiums premiums income

Attorney's Liability Assurance Society Inc. $234,267,624 $8,426,689 ($637,749)

Law firms

(Yankee Captive Management Inc.)

United Educators Insurance Risk Retention Group Inc. 38,964,627 8,918,821 (41,255)

Educational institutions

(M&M Insurance Management Services Inc.)

Controlled Risk Insurance Co. of Vermont Inc.( A Risk Retention Group) 36,693,219 10,500,707 531,167

Haryard-affiliated medical institutions

(Johnson & Higgins Services, Inc.)

AmHS Insurance Co. Risk Retention Group 33,066,703 1,509,836 1,360,439

Hospitals

(Johnson & Higgins Services Inc.)

ICI Mutual Insurance Co. 30,997,130 15,995,965 6,170,632

Members of Investment Company Institute

(SB&T Captive Management Co.)

Housing Authority Risk Retention Group 19,904,388 17,824,812 (1,836,458)

Housing authorties

(Yankee Captive Management Inc.)

NLC Mutual Insurance Co. 16,249,467 7,282,743 148,586

Public entities

(Yankee Captive Management Inc.)

Ophthalmic Mutual Insurance Co., A Risk Retention Group 13,128,731 12,155,157 2,848,475

American Academy of Ophthalomogy

(Johnson & Higgins Services Inc.)

MPC Insurance Ltd. 11,672,288 7,981,228 2,575,721

California law firms

(Johnson & Higgins Services Inc.)

Professional Consultants Insurance Co. 10,658,721 5,522,615 (867,820)

Professional actuarial firms

(Skandia International Risk Management Vermont Inc.)

The Ordinary Mutual, A Risk Retention Group Corp. 10,427,200 8,492,450 6,106,365

Catholic dioceses

(American Risk Management Corp.)

American Safety Risk Retention Group Inc. 10,164,179 3,331,654 307,181

Asbestos abatement contractors

(Mutual Risk Management Vermont Ltd.)

Bar Vermont Risk Retention Group Inc. 10,114,471 914,293 384,325

New York City Law firms

(American Risk Management Corp.)

Consolidated Catholic Casualty Risk Retention Group Inc. 9,032,521 5,364,053 5,946,947

Catholic health care systems

(Skandia International Risk Management Vermont Inc.)

CPA Mutual Insurance Co. of America Risk Retention Group 7,375,577 2,974,940 543,594

Accounting firms

(American Risk Management Corp.)

National Catholic Risk Retention Group Inc. 6,553,740 3,781,029 3,190,890

Catholic dioceses

(SB&T Captive Management Co.)

Terra Insurance Co.(A Risk Retention Group) 6,136,003 5,204,905 1,357,402

Geo-science engineers

(Vermont Insurance Mangement Inc.)

Nonprofits' Mutual Risk Retention Group Inc. 6,052,195 2,310,055 (219,658)

Non-profit organizations

(Vermont Insurance Management Inc.)

Mental Health Risk Retention Group Inc. 5,779,335 2,331,769 832,805

Non-profit mental health centers

(Skandia International Risk Retention Management Vermont Inc.)

Mount Mansfield Insurance Group Inc. 5,616,408 5,616,408 (1,140,024)

MMIG Inc.

(AIG Insurance Management Services Inc.

Source Vermont Department of Banking, Insurance and Securities/