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ANNUAL BI DIRECTORY OF RENT-A-CAPTIVES (M)

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Magna Carta Insurance Company Ltd.

Atlantic Security Ltd., P.O. Box HM 2078, Hamilton, Bermuda; 441-295-5425

Domicile: Bermuda.

Risks: All classes.

Limits: Various.

Programs: Fully funded, traditional.

Policy form: Claims-made.

Access: All brokers.

Established: 1978.

Premium volume: $1.5 million in 1996; $2 million estimated in 1997.

1996 assets: $8.5 million.

1996 capital/surplus: $250,000.

Policyholders: 12 in 1996; 15 estimated in 1997.

Membership: Direct non-controlled foreign corporation.

Contact: Colin James or Richard Witkowski.

Meridian Insurance Co. Ltd.

TRISTAR Risk Management, 6133 Bristol Parkway, Suite 300, Culver City, Calif. 90230; 310-342-0500

Domicile: Cayman Islands.

Risks: Workers compensation, professional and general liability.

Limits: Workers compensation: statutory. Liability: various.

Programs: Fully funded, traditional.

Policy form: Occurrence.

Access: All brokers.

Established: 1981.

Premium volume: $8 million in 1996; $15 million estimated in 1997.

1996 assets: $68 million.

1996 capital/surplus: $28 million.

Policyholders: 12 in 1995; 15 estimated in 1996.

Membership: Health care providers, service organizations, hoteliers.

Contact: Tom Veale.

Mutual Indemnity Ltd.

P.O. Box 2064, Hamilton HM HX, Bermuda; 441-295-5688

Domicile: Bermuda.

Self-managed.

Risks: Various, primarily workers compensation.

Limits: $250,000 per occurence/$500,000 aggregate (generally).

Programs: Fully funded, traditional.

Policy form: Claims-made, occurrence.

Access: All brokers, direct, Commonwealth Risk Services.

Established: May 1979.

Requirements: $750,000 minimum premium (generally).

Fronting insurers: Legion Insurance Co.

Premium volume: $30.2 million in 1996.

1996 assets: $294.3 million.

1996 capital/surplus: $52.3 million.

Policyholders: 216 in 1996.

Membership: Various, including manufacturing, health care, trucking and sports teams.

Contact: Paul Watson.

Mutual Indemnity (Bermuda) Ltd.

P.O. Box 2064, Hamilton HM HX, Bermuda; 441-295-5688

Domicile: Bermuda.

Self-managed.

Risks: Various, primarily workers compensation.

Limits: $250,000 per occurence/$500,000 aggregate (generally).

Programs: Fully funded, traditional.

Policy form: Claims-made, occurrence.

Access: All brokers, direct, Commonwealth Risk Services.

Established: May 1993.

Requirements: $750,000 minimum premium (generally).

Fronting insurers: Legion Insurance Co.

Premium volume: $85.1 million in 1996.

1996 assets: $210.9 million.

1996 capital/surplus: $26.4 million.

Policyholders: 240 in 1996.

Membership: Various, including manufacturing, health care, trucking and sports teams.

Contact: Paul Watson.

Mutual Indemnity (U.S.) Ltd.

P.O. Box 2064, Hamilton HM HX, Bermuda; 441-295-5688

Domicile: Delaware.

Self-managed.

Risks: Various, primarily workers compensation.

Limits: $250,000 per occurence/$500,000 aggregate (generally).

Programs: Fully funded, traditional.

Policy form: Claims-made, occurrence.

Access: All brokers, direct, Commonwealth Risk Services.

Established: January 1989.

Requirements: $750,000 minimum premium (generally).

Fronting insurers: Legion Insurance Co.

Premium volume: $46.1 million in 1996.

1996 assets: $73 million.

1996 capital/surplus: $8.9 million.

Policyholders: 52 in 1996.

Membership: Various, including manufacturing, health care and trucking.

Contact: Paul Watson.