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Old Lyme Insurance Co.
of Rhode Island Inc.
175 Metro Center Blvd., Suite 10, Warwick, R.I. 02886; 401-732-4684;
Gross premiums $20,868,092 $20,904,190
Non-admitted $11,051,025 $9,983,556
Commercial risks 95.5% 94.9%
Net premiums $20,331,009 $20,483,643
Paid-in capital $3,000,000 $3,000,000
surplus $23,662,387 $24,034,226
Employees 29 27
Combined ratio 1 78.8% 85.8%
Combined ratio 2 78.8% 85.8%
Net income $5,178,932 $2,458,918
Best's rating A- AFounded: 1985.
Parent: Kaye Group Inc.
Specialties: Property and casualty for affinity groups.
Approved non-admitted in: New Jersey, New York.
Admitted in: Rhode Island.
Officers: Bruce Guthart, chairman/president/CEO; Michael Sabanos, senior vp/CFO; Ivy Fischer, secretary; Marc Cohen, first vp; Tom Tran, vp.
Contact: James Carter.
Pacific Insurance Co. Ltd.
150 Federal St., Boston, Mass. 02110; 617-526-7600; fax: 617-526-0600
Gross premiums $290,994,413 $296,042,074
Non-admitted $193,078,990 $196,632,048
Commercial risks 95% 95%
Net premiums $98,070,026 $97,553,420
Paid-in capital $7,200,000 $7,200,000
surplus $318,770,009 $292,054,079
Employees 225 227
Combined ratio 1 101.8% 117.3%
Combined ratio 2 NA 118.1%
Net income $23,233,900 $10,162,425
Best's rating A+ A+
S&P's rating AA AA
Figures reported on a pooling basis.
Parent: The Hartford Financial Services Group Inc.
Specialties: Property, including difference-in-conditions for flood and earthquake; excess casualty; primary general liability; professional liability and programs.
Approved non-admitted in: All states, excluding Connecticut, Hawaii and New Hampshire.
Admitted in: Connecticut, Hawaii.
Officers: Ralph Palmieri, president; Ramani Ayer, chairman; Joseph Gareau, executive vp/chief investment officer; Peter Coghlan, senior vp; Michael O'Halloran, vp/secretary.
Contact: John MacFarland, 617-526-7650.
Paradigm Insurance Co.
9000 Wessex Place, Suite 300, Louisville, Ky. 40222; 502-429-5585; fax: 502-423-0941
Gross premiums $22,229,534 $30,015,404
Non-admitted $22,072,409 $29,904,795
Commercial risks 100% 100%
Net premiums $14,598,064 $24,995,464
Paid-in capital $1,900,000 $1,900,000
surplus $26,205,917 $15,036,032
Employees 39 30
Combined ratio 1 151.7% 100.2%
Combined ratio 2 87.1% 92.5%
Net income ($3,893,996) ($592,815)
Best's rating B++ B++
Parent: Queensway Financial Holdings Ltd.
Specialties: Hospitality/retail; medical professional liability; artisan contractors; taxi cab; maritime, including brown water, charter excursion boat and marina programs.
Subsidiaries: Houston Special Risk, Houston.
Approved non-admitted in: Alabama, Arizona, Arkansas,District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Ohio, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming. Also approved in the U.S. Virgin Islands.
Admitted in: Indiana.
Officers: Davinder Sahni, president; Linda R. Dawson, secretary; Francis John Arkfeld, treasurer; Michael A. Rava, Gregory J. Bubalo, vps.
Contact: Michael A. Rava.
Penn-America Insurance Co.
420 S. York Road, Hatboro, Pa. 19040;
215-443-3600; fax: 800-882-8569
Gross premiums $104,693,521 $80,496,366
Non-admitted $39,893,243 $40,771,589
Commercial risks 38% 51%
Net premiums $70,170,527 $73,469,788
Paid-in capital $3,000,000 $3,000,000
surplus $83,458,577 $41,664,761
Employees NA 99
Combined ratio 1 93.3% 94.3%
Combined ratio 2 93.3% 94.3%
Net income $9,530,695 $6,262,025
Best's rating A A
Parent: Penn-America Group Inc.
Specialties: Roofers; day care centers; apartments/hotels/motels; restaurants, bars and taverns; special events; artisan contractors; builders risk; health clubs; business auto*; garage dealers*.
Approved non-admitted in: Arkansas, Connecticut, District of Columbia, Florida, Georgia, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, West Virginia, Wyoming.
Admitted in: Alabama, Alaska, Arizona, California, Colorado, Delaware, Hawaii, Idaho, Illinois, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New York, North Dakota, Ohio, Oregon, Pennsylvania, South Dakota, Washington, Wisconsin.
Officers: Jon S. Saltzman, president; John M. DiBiasi, executive vp; Rosemary Ferrero, vp/CFO; Ransley Lennon, vp-MIS; Linda Spaide, vp-claims.
Contact: John M. DiBiasi, 215-443-3652.
* In admitted states.
Preferred National Insurance Co.
210 University Drive, Suite 900,
Coral Springs, Fla. 33071; 954-752-1222; fax: 954-344-7961
Gross premiums $46,133,052 $12,855,771
Non-admitted $17,123,136 $5,540,527
Commercial risks 37.1% 43.1%
Net premiums $40,449,026 $10,947,300
Paid-in capital $3,500,000 $3,500,000
surplus $26,751,558 $26,083,558
Employees 75 20
Combined ratio 1 98.7% 81.7%
Combined ratio 2 98.7% 81.8%
Net income ($2,464,172) ($333,826)
Best's rating B++ B++
Parent: Front Royal Inc.
Specialties: Restaurants, bars and taverns; liquor liability; artisan contractors; mercantile packages; beauty/barber shops; inland marine; employment practices liability; wholesale distribution; product liability; professional liability. .
Approved non-admitted in: All states, excluding Alaska, Connecticut, Delaware, Florida, Illinois, Maine, Massachusetts, Michigan, New Hampshire, New Mexico, New York, Oklahoma, Rhode Island and Vermont.
Admitted in: Florida, Illinois.
Officers: John K. Latham, president; Robert Briggs, Keith Reynolds, assistant vps; Scott Weicholz, secretary.