0000033992 2015-01-01 2015-09-30 0000033992 2015-09-30 0000033992 2014-12-31 0000033992 2014-01-01 2014-09-30 0000033992 2013-12-31 0000033992 us-gaap:CommonStockMember 2014-12-31 0000033992 us-gaap:CommonStockMember 2015-09-30 0000033992 us-gaap:PreferredStockMember 2014-12-31 0000033992 us-gaap:PreferredStockMember 2015-09-30 0000033992 us-gaap:AdditionalPaidInCapitalMember 2014-12-31 0000033992 us-gaap:AdditionalPaidInCapitalMember 2015-09-30 0000033992 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2014-12-31 0000033992 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2015-09-30 0000033992 us-gaap:RetainedEarningsMember 2014-12-31 0000033992 us-gaap:RetainedEarningsMember 2015-09-30 0000033992 us-gaap:TreasuryStockMember 2014-12-31 0000033992 us-gaap:TreasuryStockMember 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesPoliticalSubdivisionsOfStatesTerritoriesAndPossessionsMember 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesPoliticalSubdivisionsOfStatesTerritoriesAndPossessionsMember 2014-12-31 0000033992 KINS:FixedMaturitySecuritiesCorporateAndOtherBondsIndustrialAndMiscellaneousMember 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesCorporateAndOtherBondsIndustrialAndMiscellaneousMember 2014-12-31 0000033992 KINS:FixedMaturitySecuritiesTotalFixedMaturitySecuritiesMember 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesTotalFixedMaturitySecuritiesMember 2014-12-31 0000033992 KINS:EquitySecuritiesPreferredStocksMember 2015-09-30 0000033992 KINS:EquitySecuritiesPreferredStocksMember 2014-12-31 0000033992 KINS:EquitySecuritiesCommonStocksMember 2015-09-30 0000033992 KINS:EquitySecuritiesCommonStocksMember 2014-12-31 0000033992 KINS:EquitySecuritiesTotalEquitySecuritiesMember 2015-09-30 0000033992 KINS:EquitySecuritiesTotalEquitySecuritiesMember 2014-12-31 0000033992 KINS:LessThanOneYearMember 2015-09-30 0000033992 KINS:LessThanOneYearMember 2014-12-31 0000033992 KINS:OneToFiveYearsMember 2015-09-30 0000033992 KINS:OneToFiveYearsMember 2014-12-31 0000033992 KINS:FiveToTenYearsMember 2015-09-30 0000033992 KINS:FiveToTenYearsMember 2014-12-31 0000033992 KINS:MoreThan10YearsMember 2015-09-30 0000033992 KINS:MoreThan10YearsMember 2014-12-31 0000033992 us-gaap:USTreasurySecuritiesMember 2015-09-30 0000033992 us-gaap:USTreasurySecuritiesMember 2014-12-31 0000033992 KINS:Level1Member 2015-09-30 0000033992 KINS:Level1Member 2014-12-31 0000033992 KINS:Level2Member 2015-09-30 0000033992 KINS:Level2Member 2014-12-31 0000033992 KINS:Level3Member 2015-09-30 0000033992 KINS:Level3Member 2014-12-31 0000033992 KINS:CarryingValueMember 2015-09-30 0000033992 KINS:CarryingValueMember 2014-12-31 0000033992 KINS:FairValueMember 2015-09-30 0000033992 KINS:FairValueMember 2014-12-31 0000033992 KINS:PremiumsWrittenMember 2014-01-01 2014-09-30 0000033992 KINS:ChangesInUnearnedPremiumsMember 2014-01-01 2014-09-30 0000033992 KINS:PremiumsEarnedMember 2014-01-01 2014-09-30 0000033992 KINS:FixedMaturitySecuritiesPoliticalSubdivisionsOfStatesTerritoriesAndPossessionsMember 2015-01-01 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesCorporateAndOtherBondsIndustrialAndMiscellaneousMember 2015-01-01 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesTotalFixedMaturitySecuritiesMember 2015-01-01 2015-09-30 0000033992 KINS:EquitySecuritiesPreferredStocksMember 2015-01-01 2015-09-30 0000033992 KINS:EquitySecuritiesCommonStocksMember 2015-01-01 2015-09-30 0000033992 KINS:EquitySecuritiesTotalEquitySecuritiesMember 2015-01-01 2015-09-30 0000033992 2014-09-30 0000033992 KINS:FixedMaturitySecuritiesPoliticalSubdivisionsOfStatesTerritoriesAndPossessionsMember 2014-01-01 2014-12-31 0000033992 KINS:FixedMaturitySecuritiesCorporateAndOtherBondsIndustrialAndMiscellaneousMember 2014-01-01 2014-12-31 0000033992 KINS:FixedMaturitySecuritiesTotalFixedMaturitySecuritiesMember 2014-01-01 2014-12-31 0000033992 KINS:EquitySecuritiesPreferredStocksMember 2014-01-01 2014-12-31 0000033992 KINS:EquitySecuritiesCommonStocksMember 2014-01-01 2014-12-31 0000033992 KINS:EquitySecuritiesTotalEquitySecuritiesMember 2014-01-01 2014-12-31 0000033992 2014-01-01 2014-12-31 0000033992 2014-07-01 2014-09-30 0000033992 KINS:PremiumsWrittenMember 2015-01-01 2015-09-30 0000033992 KINS:ChangesInUnearnedPremiumsMember 2015-01-01 2015-09-30 0000033992 KINS:PremiumsEarnedMember 2015-01-01 2015-09-30 0000033992 us-gaap:PreferredStockMember 2015-01-01 2015-09-30 0000033992 us-gaap:CommonStockMember 2015-01-01 2015-09-30 0000033992 us-gaap:AdditionalPaidInCapitalMember 2015-01-01 2015-09-30 0000033992 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2015-01-01 2015-09-30 0000033992 us-gaap:RetainedEarningsMember 2015-01-01 2015-09-30 0000033992 us-gaap:TreasuryStockMember 2015-01-01 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesMortgageBackedSecuritiesMember 2015-09-30 0000033992 KINS:FixedMaturitySecuritiesMortgageBackedSecuritiesMember 2015-01-01 2015-09-30 0000033992 us-gaap:MortgageBackedSecuritiesMember 2015-09-30 0000033992 us-gaap:MortgageBackedSecuritiesMember 2014-12-31 0000033992 KINS:Plan2005Member 2015-09-30 0000033992 KINS:Plan2014Member 2015-09-30 0000033992 2015-07-01 2015-09-30 0000033992 KINS:PremiumsWrittenMember 2014-07-01 2014-09-30 0000033992 KINS:ChangesInUnearnedPremiumsMember 2014-07-01 2014-09-30 0000033992 KINS:PremiumsEarnedMember 2014-07-01 2014-09-30 0000033992 KINS:PremiumsWrittenMember 2015-07-01 2015-09-30 0000033992 KINS:ChangesInUnearnedPremiumsMember 2015-07-01 2015-09-30 0000033992 KINS:PremiumsEarnedMember 2015-07-01 2015-09-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember 2014-07-01 2015-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember 2013-07-01 2014-06-30 0000033992 KINS:PersonalUmbrellaMember 2014-07-01 2015-06-30 0000033992 KINS:PersonalUmbrellaMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember 2014-07-01 2015-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember 2013-07-01 2014-06-30 0000033992 KINS:CommercialAutomobileMember 2014-07-01 2015-06-30 0000033992 KINS:CommercialAutomobileMember 2013-07-01 2014-06-30 0000033992 us-gaap:CatastropheMember 2014-07-01 2015-06-30 0000033992 us-gaap:CatastropheMember 2013-07-01 2014-06-30 0000033992 2015-11-11 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember 2015-07-01 2016-06-30 0000033992 us-gaap:CatastropheMember 2015-07-01 2016-06-30 0000033992 KINS:PersonalUmbrellaMember 2015-07-01 2016-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember 2015-07-01 2016-06-30 0000033992 KINS:CommercialAutomobileMember 2015-07-01 2016-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeSixteenMember 2014-07-01 2015-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeSeventeenMember 2014-07-01 2015-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeEighteenMember 2014-07-01 2015-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeNinteenMember 2014-07-01 2015-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeTwentyMember 2014-07-01 2015-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeTwentyOneMember 2014-07-01 2015-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeTwentyTwoMember 2014-07-01 2015-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeTwentyThreeMember 2014-07-01 2015-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeTwentyFourMember 2014-07-01 2015-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeTwentyFiveMember 2014-07-01 2015-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeTwentySixMember 2014-07-01 2015-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeTwentySevenMember 2014-07-01 2015-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeTwentyEightMember 2014-07-01 2015-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeTwentyNineMember 2014-07-01 2015-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeThirtyMember 2014-07-01 2015-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeThirteenMember 2013-07-01 2014-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeFourteenMember 2013-07-01 2014-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeFifteenMember 2013-07-01 2014-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeTenMember 2013-07-01 2014-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeElevenMember 2013-07-01 2014-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeTwelveMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeSevenMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeEightMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeNineMember 2013-07-01 2014-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeFourMember 2013-07-01 2014-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeFiveMember 2013-07-01 2014-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeSixMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeOneMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeTwoMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeThreeMember 2013-07-01 2014-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeThirtyOneMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeThirtyTwoMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:PropertyAndCasualtyPersonalInsuranceProductLineMember KINS:RangeThirtyThreeMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeThirtyFourMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeThirtyFiveMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 KINS:PersonalUmbrellaMember KINS:RangeThirtySixMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeThirtySevenMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeThirtyEightMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:PropertyAndCasualtyCommercialInsuranceProductLineMember KINS:RangeThirtyNineMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeFourtyMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeFourtyOneMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 KINS:CommercialAutomobileMember KINS:RangeFourtyTwoMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeFourtyThreeMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeFourtyFourMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 0000033992 us-gaap:CatastropheMember KINS:RangeFourtyFiveMember us-gaap:SubsequentEventMember 2015-07-01 2016-06-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure KINS:Number 1342213 2096363 1342213 2096363 1342213 2096363 KINGSTONE COMPANIES, INC. 0000033992 10-Q 2015-09-30 false --12-31 No No Yes Smaller Reporting Company Q3 2015 5273419 5395054 61211677 50083441 9536987 7621309 0.01 0.01 20000000 20000000 8287898 8235095 7335110 7308757 0.01 0.01 2500000 2500000 952788 926338 70748664 57704750 13682943 13862141 43005459 36221300 61211677 50083441 2859267 3172632 6677720 4448677 9536987 7621309 4523275 1640185 478684 791305 1319477 23934 296774 320708 412490 803440 1215930 19180 444950 464130 1680060 49488 71588601 59138588 14124008 14244439 43422589 36876420 62095309 51120859 2824632 3126280 6668660 4891449 9493292 8017729 4548712 839937 1433838 441065 382298 417130 655120 883632 1037418 -34635 -46352 -9060 442772 -43695 396420 25437 61211677 50083441 1003870 482833 13012835 11640381 39868480 32283921 2803217 5676306 4523275 0 62095309 51120859 1025475 487507 13408879 11943127 40201676 32865231 2910567 5824994 4548712 0 5137198 5128735 1416537 1413303 3114281 3109079 606380 606353 313113 331487 58142 49981 91875 98306 163096 183200 -2577 -52921 0 0 -2577 -52921 0 0 -174315 -12247 -46621 -12247 -127694 0 0 0 5273419 5395054 1428058 1451037 3075885 3154464 769476 789553 136221 266319 11521 37734 -38396 45385 163096 183200 5137198 5128735 0 0 500000 0 4030818 3522927 606380 1605808 5273419 5395054 0 0 505150 0 3998793 3563401 769476 1831653 14124008 14244439 0 0 14124008 14244439 0 0 43422589 36876420 35363872 29257850 8058717 7618570 0 0 62095309 51120859 35363872 29257850 26731437 21863009 0 0 9493292 8017729 9493292 8017729 0 0 0 0 71588601 59138588 44857164 37275579 26731437 21863009 0 0 1556000 1007000 600000 518426 567188 174013 194550 13600 17000 7976000 6834000 344413 372638 7335110 144643620 134996422 1341376 1330944 3222004 2448042 1876744 2233530 10456707 8985981 31171559 35575276 2285356 1301549 10832446 8946899 76725799 64267323 9493292 8017729 62095309 51120859 5137198 5128735 100620510 94495526 -655461 -1137180 322256 4334065 3928137 6069907 5956540 -1555786 -1006582 47441330 40458041 38899492 39912683 144643620 134996422 -1808233 -1604173 45831343 42105069 12211392 8203003 554357 946332 32982715 32873383 82879 82351 46813437 35090868 14015734 16657369 1299511 742191 263726 275280 -105718 438126 115176 -40487 1850069 1294216 463513 649441 9388457 10365651 3278319 2643531 34381118 22250684 9895000 13129604 39192291 29836272 11224786 13196377 749658 641943 248888 267424 1174693 1074373 485959 468352 9349842 7656532 2845708 3389024 11033874 8592364 3106064 4021383 16884224 11871060 4538167 5050194 5107335 3565316 1883681 5107335 2345654 2513811 1689280 907267 1115338 7621146 5254596 2790948 3460992 4715360 4153437 1536770 2311591 -391975 588121 -346911 -34063 201926 -302972 178711 17547 -593901 891093 -525622 -51610 105718 -438126 -115176 40487 -699619 1329219 -410446 -92097 0.15 0.13 0.05 0.05 7367714 7360294 7378097 7381626 7330178 7283244 7294913 7334269 0.69 0.48 0.26 0.32 0.70 0.49 0.26 0.32 8235095 8287898 926338 952788 44023110 40500896 82351 82879 32873383 32982715 946332 554357 8203003 12211392 -1604173 -1808233 129546 118582 129546 -30755 243662 308 243354 223976 223976 83558 836 -836 26450 -204060 -204060 -1098946 -1098946 -391975 -391975 12724166 10313334 952160 24809 113367 -1295193 -754150 -509180 -549204 -487030 6983289 7317198 -1013191 2419060 16634 198361 1470726 1783842 -4403717 -2236751 983807 776000 1885547 1734722 -279793 107433 223976 74471 257996 205107 -105718 438126 -14576723 -24228173 -6203 -22519 1642971 5537511 1680633 5092195 3552291 7453247 13187405 24041145 2715540 243662 66095 1457000 1712400 6731629 9906878 19922506 5028005 -3175249 -14894501 -1322692 -979662 1098946 947186 204060 46728 223976 74471 -243662 -66095 51587 5876 1850069 1294216 463513 649441 200301 285034 86430 71717 2050370 1579250 549943 721158 594 465 23672 232 250 378084 372901 116683 125379 1671821 1182083 433028 595529 6359 251919 58155 -14621 -42611 -42867 -19380 -27170 48970 294786 77535 12549 -112077 134620 5434 -25866 -112097 -48729 -20436 -25886 20 183349 25870 20 51587 51587 15230237 9965360 852736 3013648 8963637 6325579 10949272 9339227 727065 656325 3553900 0 4280965 656325 1132899 800248 37619 374175 435845 58569 305834 364403 30192 148320 178512 65533 2177 67710 246222 24051 4 0 1 1 3 0 3 1 2 3 6 1 7 10 0 55036 0 40438 40438 14598 0 14598 6379 30228 36607 62886 2177 65063 101670 0 43 3 17 25 2 16 18 9 15 24 1 0 1 25 5 745212 37619 333737 395407 43971 305834 349805 23813 118092 141905 2647 0 2647 144552 24051 1147552 2556674 0 126658 450035 714640 450035 841298 697517 1448376 0 267000 697517 1715376 0 16377789 12552226 852736 3140306 9413672 7040219 11399307 10180525 1424582 2104701 3553900 267000 4978482 2371701 1132899 4548712 0 4548712 0 1723759 1762345 1925000 1816122 31171559 35575276 31171559 35575276 2285356 1301549 2285356 1301549 10832446 8946899 10832446 8946899 6731629 9906878 6731629 9906878 5137198 5128735 5273419 5395054 32754588 -10503904 22250684 45347197 -10966079 34381118 17668144 -7773144 9895000 21337570 -8207966 13129604 -24013732 -3186706 -27200438 -21913608 -3982790 -25896398 -2485929 -5322405 -7808334 -3245871 -4876618 -8122489 39263 -6082 33181 34815 1362 36177 22961 -12433 10528 12945 -1015 11930 56729057 -7311116 49417941 67225990 -6984651 60241339 20131112 -2438306 17692806 24570496 -3330333 21240163 38899492 36922289 16278765 17471621 22620727 19450668 15926654 9559646 6843425 4834120 9083229 4725526 16884224 11871060 -469361 827141 17353585 11043919 21663157 17139254 -18249526 -17363975 39912683 34503229 9388457 10365651 3278319 2643531 653980 705214 624629 -210993 8734477 9660437 2653690 2854524 11026027 11881366 -469361 827141 .0375 186875 345000 421250 2500 123750 50000 6.22 6.32 5.16 5.09 2.58 6.73 P3Y1M17D P3Y7M6D P3Y6M18D 451706 801075 1258013 662488 95500 0 0.0262 0.0297 0.0297 0.0262 0.3054 0.4053 0.4053 0.3054 0.0103 0.0092 0.0092 0.0103 P3Y P3Y3M P3Y3M P3Y 1098946 947186 364747 366756 130000 119000 92000 52000 0.17 0.20 0.20 0.17 8.64 662488 123750 70115 1135 650000 126000 P1Y2M5D -655461 -1137180 5937615 5766403 288558 491080 286684 291689 638093 759400 3555280 3055234 1169000 1169000 5282154 4629223 110286 88148 2063768 2025224 2524398 1741360 396089 562941 187613 211550 December 31, 2035 December 31, 2019 0.33 0.321 0.55 0.75 0.40 0.90 0.90 0.90 1 1 1 0 0.25 0 360000 300000 100000 100000 400000 300000 300000 300000 425000 100000 450000 300000 800000 1200000 3000000 2000000 0 400000 0 3000000 750000 800000 1200000 400000 400000 300000 300000 425000 750000 300000 3200000 1700000 3600000 2500000 1700000 1700000 4075000 3750000 1700000 3640000 2600000 2900000 1900000 3600000 2600000 4075000 2900000 4050000 4000000 2900000 4000000 2900000 4500000 4500000 2015-06-30 2015-06-30 2015-06-30 2014-06-30 2016-06-30 2016-06-30 4000000 4000000 4000000 1800000 1000000 2400000 137000000 86000000 176000000 Yes No Yes No No Yes 360,000 0 100% 100,000 0 100% 400,000 0 100% 300,000 0 100% 1,800,000 0 100% 1,000,000 0 100% 300,000 0 100% 300,000 0 100% 100,000 0 100% 300,000 0 100% 450,000 0 100% 100,000 0 100% 425,000 0 100% 300,000 0 100% 2,400,000 0 100% 37536 77050 83184 47357 50000 32473 86522 50000 100750 104276 107926 111703 359119 783774 26126 26126 54343 180970 51810 350000 12989 43002 13966 391354 137968 37844 1.60 1.87 238 730 <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Kingstone Companies, Inc. (referred to herein as &#34;Kingstone&#34; or the &#147;Company&#148;), through its wholly owned subsidiary, Kingstone Insurance Company (&#147;KICO&#148;), underwrites property and casualty insurance to small businesses and individuals exclusively through independent agents and brokers. KICO is a licensed insurance company in the States of New York, New Jersey, Connecticut, Pennsylvania and Texas; however, KICO writes substantially all of its business in New York. Through March 31, 2015, Kingstone, through its wholly owned subsidiary, Payments Inc., a licensed premium finance company in the State of New York, received fees for placing contracts with a third party licensed premium finance company (see Note 12 &#150; Premium Finance Placement Fees).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited condensed consolidated financial statements included in this report have been prepared in accordance with accounting principles generally accepted in the United States (&#147;GAAP&#148;) for interim financial information and the instructions to Securities and Exchange Commission (&#147;SEC&#148;) Form 10-Q and Article&#160;8-03 of SEC Regulation&#160;S-X. The principles for condensed interim financial information do not require the inclusion of all the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December&#160;31, 2014 and notes thereto included in the Company&#146;s Annual Report on Form 10-K filed with the SEC on March 25, 2015. The accompanying condensed consolidated financial statements have not been audited by an independent registered public accounting firm in accordance with standards of the Public Company Accounting Oversight Board (United States) but, in the opinion of management, such financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the Company&#146;s financial position and results of operations. The results of operations for the nine months ended September 30, 2015 may not be indicative of the results that may be expected for the year ending December&#160;31, 2015.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><u>Use of Estimates </u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions, which include the reserves for losses and loss adjustment expenses, are subject to considerable estimation error due to the inherent uncertainty in projecting ultimate claim amounts that will be reported and settled over a period of several years. In addition, estimates and assumptions associated with receivables under reinsurance contracts related to contingent ceding commission revenue require considerable judgment by management. On an on-going basis, management reevaluates its assumptions and the methods of calculating its estimates. Actual results may differ significantly from the estimates and assumptions used in preparing the consolidated financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Principles of Consolidation</u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements consist of Kingstone and its wholly owned subsidiaries. Subsidiaries include: (1) KICO and its wholly owned subsidiaries, CMIC Properties, Inc. (&#147;Properties&#148;) and 15 Joys Lane, LLC (&#147;15 Joys Lane&#148;), which together own the land and building from which KICO operates, and (2) Payments Inc. All significant inter-company transactions have been eliminated in consolidation.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Accounting Pronouncements </u></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2014, the Financial Accounting Standards Board (&#147;FASB&#148;) issued Accounting Standards Update (&#147;ASU&#148;) No. 2014-08, &#147;Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This ASU revised guidance to only allow disposals of components of an entity that represent a strategic shift (e.g., disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity) and that have a major effect on a reporting entity&#146;s operations and financial results to be reported as discontinued operations. The revised guidance also requires expanded disclosure in the financial statements for discontinued operations as well as for disposals of significant components of an entity that do not qualify for discontinued operations presentation. The Company adopted this guidance on January 1, 2015 and it did not have any effect on the Company&#146;s consolidated results of operations, financial position or cash flows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2014, FASB issued guidance to change the recognition of revenue from contracts with customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for reporting periods beginning after December 15, 2016. The Company will apply the guidance using a modified retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2015, FASB issued guidance requiring expanded disclosures for insurance entities that issue short-duration contracts. The expanded disclosures are designed to provide additional insight into an insurance entity&#146;s ability to underwrite and anticipate costs associated with insurance claims. The disclosures include information about incurred and paid claims development by accident year, on a net basis after reinsurance, for the number of years claims incurred typically remain outstanding, not to exceed ten years. Each period presented in the disclosure about claims development that precedes the current reporting period is considered required supplementary information. The expanded disclosures also include information about significant changes in methodologies and assumptions, a reconciliation of incurred and paid claims development to the carrying amount of the liability for unpaid claims and claim adjustment expenses, the total amount of incurred but not reported liabilities plus expected development, claims frequency information including the methodology used to determine claim frequency and any changes to that methodology, and claim duration. The guidance is effective for annual periods beginning after December 15, 2015, and interim periods beginning after December 15, 2016, and is to be applied retrospectively. The new guidance affects disclosures only and will have no impact on the Company&#146;s results of operations or financial position.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has determined that all other recently&#160;issued accounting pronouncements will not have a material impact on its consolidated financial position, results of operations and cash flows, or do not apply to its operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"><u>Available-for-Sale Securities</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The amortized cost and fair value of investments in available-for-sale fixed-maturity securities and equity securities as of September 30, 2015 and December 31, 2014 are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 35%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 13,682,943 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;478,684 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(37,619)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,124,008 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;441,065 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;43,005,459 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;791,305 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(333,737)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">(40,438)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">43,422,589 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">417,130 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage backed </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;securities </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,523,275 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;49,488 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(24,051)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">4,548,712 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">25,437 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;61,211,677 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,319,477 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(395,407)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">(40,438)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">62,095,309 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">883,632 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,859,267 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,934 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(43,971)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">(14,598)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2,824,632 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">(34,635)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;6,677,720 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;296,774 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(305,834)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">6,668,660 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">(9,060)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,536,987 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;320,708 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(349,805)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">(14,598)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">9,493,292 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">(43,695)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 70,748,664 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,640,185 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(745,212)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(55,036)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 71,588,601 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;839,937 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 35%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 13,862,141 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;412,490 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(23,813)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(6,379)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,244,439 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;382,298 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;36,221,300 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;803,440 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(118,092)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(30,228)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;36,876,420 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;655,120 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;50,083,441 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,215,930 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(141,905)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(36,607)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;51,120,859 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,037,418 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,172,632 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;19,180 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(62,886)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,126,280 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(46,352)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,448,677 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;444,950 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,177)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,891,449 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;442,772 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;7,621,309 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;464,130 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(65,063)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,017,729 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;396,420 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 57,704,750 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,680,060 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(144,552)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(101,670)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 59,138,588 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,433,838 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="margin-top: 0; margin-bottom: 0; font-size: 8pt"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">A summary of the amortized cost and fair value of the Company&#146;s investments in available-for-sale fixed-maturity securities by contractual maturity as of September 30, 2015 and December 31, 2014 is shown below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Remaining Time to Maturity&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Less than one year&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,003,870 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,025,475 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;482,833 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;487,507 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;One to five years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;13,012,835 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;13,408,879 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;11,640,381 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;11,943,127 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Five to ten years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;39,868,480 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;40,201,676 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;32,283,921 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;32,865,231 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;More than 10&#160;years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,803,217 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,910,567 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;5,676,306 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;5,824,994 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage backed securities </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,523,275 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,548,712 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 61,211,677 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 62,095,309 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 50,083,441 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 51,120,859 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without penalties.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><u>Held-to-Maturity Securities</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The amortized cost and fair value of investments in held-to-maturity fixed-maturity securities as of September 30, 2015 and December 31, 2014 are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 44%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: left; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;U.S. Treasury securities </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;606,380 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;163,096 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;769,476 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;163,096 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,416,537 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,142 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(46,621)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,428,058 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;11,521 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,114,281 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;91,875 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,577)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(127,694)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,075,885 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(38,396)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,137,198 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;313,113 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,577)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(174,315)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,273,419 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;136,221 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 29%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 11%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 11%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: left; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;U.S. Treasury securities </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;606,353 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;183,200 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;789,553 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;183,200 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,413,303 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;49,981 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,247)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,451,037 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,734 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;3,109,079 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,306 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(52,921)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;3,154,464 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;45,385 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,128,735 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;331,487 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(52,921)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,247)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,395,054 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;266,319 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Held-to-maturity U.S. Treasury securities are held in trust pursuant to the New York State Department of Financial Services&#146; minimum funds requirement.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">A summary of the amortized cost and fair value of the Company&#146;s investments in held-to-maturity securities by contractual maturity as of September 30, 2015 and December 31, 2014 is shown below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Remaining Time to Maturity&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Less than one year&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;One to five years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;505,150 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Five to ten years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,030,818 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,998,793 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,522,927 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,563,401 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;More than 10&#160;years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;606,380 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;769,476 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,605,808 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,831,653 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,137,198 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,273,419 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,128,735 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,395,054 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><u>Investment Income</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Major categories of the Company&#146;s net investment income are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;Nine months ended&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;September 30,&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;September 30,&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Income: </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Fixed-maturity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;595,529 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;433,028 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,671,821 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,182,083 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Equity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;125,379 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;116,683 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;378,084 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;372,901 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Cash and cash equivalents&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;250 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;232 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;465 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,672 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Other </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;594 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;721,158 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;549,943 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,050,370 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,579,250 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Expenses:&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Investment expenses&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;71,717 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;86,430 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;200,301 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;285,034 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net investment income&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;649,441 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;463,513 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,850,069 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,294,216 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Proceeds from the sale and maturity of fixed-maturity securities were $1,680,633 and $5,092,195 for the nine months ended September 30, 2015 and 2014, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Proceeds from the sale of equity securities were $1,642,971 and $5,537,511 for the nine months ended September 30, 2015 and 2014, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company&#146;s net realized gains (losses) on investments are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-maturity securities: </b></font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized gains&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;20 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25,870 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;20 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;183,349 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized losses&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(25,886)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(20,436)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(112,097)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(48,729)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(25,866)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,434 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(112,077)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;134,620 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity securities: </b></font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized gains </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,549 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;77,535 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;48,970 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;294,786 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized losses&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(27,170)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(19,380)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(42,611)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(42,867)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(14,621)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,155 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,359 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;251,919 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cash and short term investments (1) </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,587 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,587 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net realized gains (losses) </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(40,487)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;115,176 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(105,718)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;438,126 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"><u>Impairment Review </u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Impairment of investment securities results in a charge to operations when a market decline to below cost is deemed to be other-than-temporary. The Company regularly reviews its fixed-maturity securities and equity securities portfolios to evaluate the necessity of recording impairment losses for other-than-temporary declines in the fair value of investments. In evaluating potential impairment, GAAP specifies (i) if the Company does not have the intent to sell a debt security prior to recovery and (ii) it is more likely than not that it will not have to sell the debt security prior to recovery, the security would not be considered other-than-temporarily impaired unless there is a credit loss.&#160; When the Company does not intend to sell the security and it is more likely than not that the Company will not have to sell the security before recovery of its cost basis, it will recognize the credit component of an other-than-temporary impairment (&#147;OTTI&#148;) of a debt security in earnings and the remaining portion in other comprehensive income.&#160; The credit loss component recognized in earnings is identified as the amount of principal cash flows not expected to be received over the remaining term of the security as projected based on cash flow projections.&#160; For held-to-maturity debt securities, the amount of OTTI recorded in other comprehensive income for the noncredit portion of a previous OTTI is amortized prospectively over the remaining life of the security on the basis of timing of future estimated cash flows of the security.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">OTTI losses are recorded in the condensed consolidated statements of income and comprehensive income as net realized losses on investments and result in a permanent reduction of the cost basis of the underlying investment. The determination of OTTI is a subjective process and different judgments and assumptions could affect the timing of loss realization. At September 30, 2015, there were 47 securities that accounted for the gross unrealized loss. The Company determined that none of the unrealized losses were deemed to be OTTI for its portfolio of fixed-maturity securities and equity securities for the nine months ended September 30, 2015 and 2014. Significant factors influencing the Company&#146;s determination that unrealized losses were temporary included the magnitude of the unrealized losses in relation to each security&#146;s cost, the nature of the investment and management&#146;s intent and ability to retain the investment for a period of time sufficient to allow for an anticipated recovery of fair value to the Company&#146;s cost basis.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">The Company held securities with unrealized losses representing declines that were considered temporary at September 30, 2015 and December 31, 2014 as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="15" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Less than 12 months</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>12 months or more</b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 20%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Aggregate </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="15" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;852,736 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(37,619)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;852,736 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(37,619)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,963,637 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(333,737)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;450,035 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(40,438)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,413,672 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(374,175)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;backed securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,132,899 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(24,051)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,132,899 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(24,051)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 10,949,272 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(395,407)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;450,035 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(40,438)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 11,399,307 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(435,845)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;727,065 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(43,971)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;697,517 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(14,598)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,424,582 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(58,569)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,553,900 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(305,834)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,553,900 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(305,834)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;4,280,965 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(349,805)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;18 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;697,517 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(14,598)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;4,978,482 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(364,403)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 15,230,237 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(745,212)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;43 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 1,147,552 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(55,036)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 16,377,789 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(800,248)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="15" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Less than 12 months</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>12 months or more</b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 20%; padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Aggregate </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;3,013,648 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(23,813)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;126,658 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(6,379)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;3,140,306 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(30,192)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,325,579 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(118,092)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;714,640 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(30,228)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;7,040,219 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;(148,320)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;9,339,227 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(141,905)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;24 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;841,298 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(36,607)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 10,180,525 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;(178,512)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;656,325 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 1,448,376 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(62,886)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;2,104,701 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(65,533)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;267,000 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,177)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;267,000 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,177)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;656,325 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 1,715,376 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(65,063)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;2,371,701 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(67,710)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;9,995,552 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(144,552)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 2,556,674 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(101,670)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;10 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 12,552,226 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;(246,222)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company follows GAAP guidance regarding fair value measurements. The valuation technique used to fair value the financial instruments is the market approach which uses prices and other relevant information generated by market transactions involving identical or comparable assets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">This guidance establishes a three-level hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level&#160;1)&#160;and the lowest priority to unobservable inputs (Level&#160;3). If the inputs used to measure the assets or liabilities fall within different levels of the hierarchy, the classification is based on the lowest level input that is significant to the fair value measurement of the asset or liability. Classification of assets and liabilities within the hierarchy considers the markets in which the assets and liabilities are traded, including during period of market disruption, and the reliability and transparency of the assumptions used to determine fair value. The hierarchy requires the use of observable market data when available. The levels of the hierarchy and those investments included in each are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i>Level&#160;1</i>&#151;Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities traded in active markets. Included are those investments traded on an active exchange, such as the NASDAQ Global Select Market, U.S.&#160;Treasury securities and obligations of U.S.&#160;government agencies, together with corporate debt securities that are generally investment grade.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i>Level&#160;2</i>&#151;Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and market-corroborated inputs. &#160;Municipal and corporate bonds, and residential mortgage-backed securities, that are traded in less active markets are classified as Level 2.&#160; These securities are valued using market price quotations for recently executed transactions.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><i>Level&#160;3</i>&#151;Inputs to the valuation methodology are unobservable for the asset or liability and are significant to the fair value measurement. Material assumptions and factors considered in pricing investment securities and other assets may include appraisals, projected cash flows, market clearing activity or liquidity circumstances in the security or similar securities that may have occurred since the prior pricing period.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The availability of observable inputs varies and is affected by a wide variety of factors. When the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. The degree of judgment exercised by management in determining fair value is greatest for investments categorized as Level&#160;3. For investments in this category, the Company considers prices and inputs that are current as of the measurement date. In periods of market dislocation, as characterized by current market conditions, the ability to observe prices and inputs may be reduced for many instruments. This condition could cause a security to be reclassified between levels.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">The Company&#146;s investments are allocated among pricing input levels at September 30, 2015 and December 31, 2014 as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 57%; border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;($ in thousands)&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 1&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 2&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 3&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Total&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-maturity securities available-for-sale </b></font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,124,008 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,124,008 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;35,363,872 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,058,717 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;43,422,589 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage backed securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,548,712 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,548,712 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed maturities&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;35,363,872 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;26,731,437 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;62,095,309 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity securities </b></font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,493,292 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,493,292 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total investments </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 44,857,164 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 26,731,437 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 71,588,601 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 57%; border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;($ in thousands)&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 1&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 2&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 3&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Total&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-maturity investments available-for-sale </b></font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,244,439 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,244,439 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;29,257,850 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;7,618,570 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;36,876,420 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed maturities&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;29,257,850 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;21,863,009 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;51,120,859 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity investments&#160;&#160;</b></font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,017,729 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,017,729 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total investments </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 37,275,579 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 21,863,009 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 59,138,588 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">GAAP requires all entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized in the balance sheet, for which it is practicable to estimate fair value. The Company uses the following methods and assumptions in estimating its fair value disclosures for financial instruments:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt"><b><i>Equity securities and fixed income securities available-for-sale:</i>&#160;&#160;</b>Fair value disclosures for these investments are included in &#147;Note&#160;3 - Investments.&#148;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><b><i>Cash and cash equivalents: </i></b>The carrying values of cash and cash equivalents approximate their fair values because of the short-term nature of these instruments.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt"><b><i>Premiums receivable and reinsurance receivables:</i></b>&#160;&#160;The carrying values reported in the accompanying condensed consolidated balance sheets for these financial instruments approximate their fair values due to the short-term nature of the assets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><b><i>Real estate: </i></b>The fair value of the land and building included in property and equipment, which is used in the Company&#146;s operations, approximates the carrying value. The fair value was based on an appraisal dated September 8, 2015 prepared using the sales comparison approach and income approach, and accordingly the real estate is a Level 3 asset under the fair value hierarchy.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><b><i>Reinsurance balances payable:</i></b>&#160;&#160;The carrying value reported in the condensed consolidated balance sheets for these financial instruments approximates fair value.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">The estimated fair values of the Company&#146;s financial instruments as of September 30, 2015 and December 31, 2014 are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 53%; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Carrying Value</b></font></td> <td style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b></font></td> <td nowrap="nowrap" style="width: 1%; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Carrying Value</b></font></td> <td style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Fixed-maturity securities held-to-maturity </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,137,198 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,273,419 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,128,735 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,395,054 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Cash and cash equivalents </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;6,731,629 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;6,731,629 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;9,906,878 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;9,906,878 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums receivable </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;10,832,446 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;10,832,446 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;8,946,899 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;8,946,899 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Receivables - reinsurance contracts </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,285,356 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,285,356 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,301,549 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,301,549 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Reinsurance receivables </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;31,171,559 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;31,171,559 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;35,575,276 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;35,575,276 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Real estate, net of accumulated depreciation </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,723,759 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,925,000 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,762,345 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,816,122 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Reinsurance balances payable&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,342,213 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,342,213 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,096,363 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,096,363 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"><u>Premiums Earned</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">Premiums written, ceded and earned are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 62%; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Direct&#160;</b></font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Assumed&#160;</b></font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Ceded&#160;</b></font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine months ended September 30, 2015</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;67,225,990 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;34,815 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(21,913,608)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;45,347,197 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(6,984,651)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;1,362 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(3,982,790)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(10,966,079)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;60,241,339 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;36,177 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(25,896,398)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;34,381,118 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine months ended September 30, 2014</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;56,729,057 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;39,263 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(24,013,732)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;32,754,588 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(7,311,116)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(6,082)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(3,186,706)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(10,503,904)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;49,417,941 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;33,181 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(27,200,438)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;22,250,684 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Three months ended September 30, 2015</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;24,570,496 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;12,945 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(3,245,871)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;21,337,570 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(3,330,333)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(1,015)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(4,876,618)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(8,207,966)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;21,240,163 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;11,930 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(8,122,489)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;13,129,604 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Three months ended September 30, 2014</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;20,131,112 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;22,961 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(2,485,929)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;17,668,144 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(2,438,306)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(12,433)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(5,322,405)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(7,773,144)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;17,692,806 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;10,528 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(7,808,334)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;9,895,000 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Premium receipts in advance of the policy effective date are recorded as advance premiums. The balance of advance premiums as of September 30, 2015 and December 31, 2014 was approximately $1,556,000 and $1,007,000, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"><u>Loss and Loss Adjustment Expense Reserves </u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The following table provides a reconciliation of the beginning and ending balances for unpaid losses and loss adjustment expense (&#147;LAE&#148;) reserves:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="text-align: center; font-size: 8pt; text-indent: 0pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt; text-indent: 0pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 60%; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 20%; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt; text-indent: 60pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>2015</b></font></td> <td nowrap="nowrap" style="width: 20%; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt; text-indent: 70pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Balance at beginning of period </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;39,912,683 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;34,503,229 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Less reinsurance recoverables&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(18,249,526)</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(17,363,975)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net balance, beginning of period </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;21,663,157 </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;17,139,254 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Incurred related to:&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Current year&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;17,353,585 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;11,043,919 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Prior years </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(469,361)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;827,141 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total incurred&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;16,884,224 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;11,871,060 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Paid related to:&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Current year&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;9,083,229 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;4,725,526 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Prior years&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;6,843,425 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;4,834,120 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total paid&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;15,926,654 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;9,559,646 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net balance at end of period </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;22,620,727 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;19,450,668 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Add reinsurance recoverables&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;16,278,765 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;17,471,621 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Balance at end of period </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;38,899,492 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;36,922,289 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Incurred losses and LAE are net of reinsurance recoveries under reinsurance contracts of $11,026,027 and $11,881,366 for the nine months ended September 30, 2015 and 2014, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Prior year incurred loss and LAE development is based upon estimates by line of business and accident year. Prior year loss and LAE development incurred during the nine months ended September 30, 2015 and 2014 was $(469,361) and $827,141, respectively. The Company&#146;s management continually monitors claims activity to assess the appropriateness of carried case and incurred but not reported (&#147;IBNR&#148;) reserves, giving consideration to Company and industry trends.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The reserving process for loss and LAE reserves provides for the Company&#146;s best estimate at a particular point in time of the ultimate unpaid cost of all losses and LAE incurred, including settlement and administration of losses, and is based on facts and circumstances then known and including losses that have been incurred but not yet been reported. The process includes using actuarial methodologies to assist in establishing these estimates, judgments relative to estimates of future claims severity and frequency, the length of time before losses will develop to their ultimate level and the possible changes in the law and other external factors that are often beyond the Company&#146;s control. Several actuarial reserving methodologies are used to estimate required loss reserves. The process produces carried reserves set by management based upon the actuaries&#146; best estimate and is the result of numerous best estimates made by line of business, accident year, and loss and LAE. The amount of loss and LAE reserves for reported claims (&#147;case reserve&#148;) is based primarily upon a case-by-case evaluation of coverage, liability, injury severity, and any other information considered pertinent to estimating the exposure presented by the claim. The amounts of loss and LAE reserves for unreported claims and development on known claims (IBNR reserves) are determined using historical information by line of insurance as adjusted to current conditions. Since this process produces loss reserves set by management based upon the actuaries&#146; best estimate, there is no explicit or implicit provision for uncertainty in the carried loss reserves.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Due to the inherent uncertainty associated with the reserving process, the ultimate liability may differ, perhaps substantially, from the original estimate. Such estimates are regularly reviewed and updated and any resulting adjustments are included in the current year&#146;s results. Reserves are closely monitored and are recomputed periodically using the most recent information on reported claims and a variety of statistical techniques. On at least a quarterly basis, the Company reviews by line of business existing reserves, new claims, changes to existing case reserves and paid losses with respect to the current and prior years. Several methods are used, varying by product line and accident year, in order to select the estimated year-end loss reserves. These methods include the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-size: 8pt"><i>Paid Loss Development</i> &#150; historical patterns of paid loss development are used to project future paid loss emergence in order to estimate required reserves.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-size: 8pt"><i>Incurred Loss Development</i> &#150; historical patterns of incurred loss development, reflecting both paid losses and changes in case reserves, are used to project future incurred loss emergence in order to estimate required reserves.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-size: 8pt"><i>Paid Bornhuetter-Ferguson (&#147;BF&#148;)</i> &#150; an estimated loss ratio for a particular accident year is determined, and is weighted against the portion of the accident year claims that have been paid, based on historical paid loss development patterns. The estimate of required reserves assumes that the remaining unpaid portion of a particular accident year will pay out at a rate consistent with the estimated loss ratio for that year. This method can be useful for situations where an unusually high or low amount of paid losses exists at the early stages of the claims development process.</font></p> <p style="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-size: 8pt"><i>Incurred Bornhuetter-Ferguson (&#147;BF&#148;)</i> - an estimated loss ratio for a particular accident year is determined, and is weighted against the portion of the accident year claims that have been reported, based on historical incurred loss development patterns. The estimate of required reserves assumes that the remaining unreported portion of a particular accident year will pay out at a rate consistent with the estimated loss ratio for that year. This method can be useful for situations where an unusually high or low amount of reported losses exists at the early stages of the claims development process.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Management&#146;s best estimate of required reserves is generally based on an average of the methods above, with appropriate weighting of the various methods based on the line of business and accident year being projected. In some cases, additional methods or historical data from industry sources are employed to supplement the projections derived from the methods listed above.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Two key assumptions that materially affect the estimate of loss reserves are the loss ratio estimate for the current accident year used in the BF methods described above, and the loss development factor selections used in the loss development methods described above. The loss ratio estimates used in the BF methods are selected after reviewing historical accident year loss ratios adjusted for rate changes, trend, and mix of business.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company is not aware of any claims trends that have emerged or that would cause future adverse development that have not already been considered in existing case reserves and in its current loss development factors.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">In New York State, lawsuits for negligence are subject to certain limitations and must be commenced within three years from the date of the accident or are otherwise barred. Accordingly, the Company&#146;s exposure to unreported claims (&#145;pure&#146; IBNR) for accident dates of September 30, 2012 and prior is limited although there remains the possibility of adverse development on reported claims (&#145;case development&#146; IBNR).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company was previously a one-third participant in a pool arrangement. Effective November 1, 1997, the Company withdrew from its participation in the pool arrangement. Accordingly, the Company will only be participating in losses and allocated loss adjustment expenses that occurred prior to that date.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><br /> <u>Commercial Auto Line of Business</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Effective October 1, 2014 the Company decided that it would no longer accept applications for new commercial auto policies. The action was taken following a series of underwriting and pricing measures which were intended to improve the profitability of this line of business. The actions taken did not yield the hoped for results. In February 2015, the Company made the decision that it would no longer offer renewals on its existing commercial auto policies beginning with those that expire on or after May 1, 2015. The Company had 238 and 730 commercial auto policies in force as of September 30, 2015 and December 31, 2014, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><u>Reinsurance</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font: 8pt Times New Roman, Times, Serif">The Company&#146;s quota share reinsurance treaties are on a July 1 through June 30 calendar year basis; therefore, for year to date fiscal periods after June 30, two separate treaties will be included in such periods.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font: 8pt Times New Roman, Times, Serif">The Company&#146;s quota share reinsurance treaty in effect for the nine months ended September 30, 2015 for its personal lines business, which primarily consists of homeowners&#146; policies, was covered under the July 1, 2014/June 30, 2015 and July 1, 2015/June 30, 2016 treaty years. The Company&#146;s quota share reinsurance treaties in effect for the nine months ended September 30, 2014 for its personal lines business, which primarily consists of homeowners&#146; policies, were covered under the July 1, 2013/June 30, 2014 and July 1, 2014/June 30, 2015 treaty years. The Company&#146;s quota share reinsurance treaty in effect for the nine months ended September 30, 2014 for its commercial lines business was covered under the July 1, 2013/June 30, 2014 treaty year. The Company did not renew its expiring commercial lines quota share reinsurance treaty on July 1, 2014.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><font style="font: 8pt Times New Roman, Times, Serif">The Company&#146;s personal lines quota share treaty that covered the July 1, 2013/June 30, 2014 treaty year was a two year treaty that expired on June 30, 2015. Effective July 1, 2014, the Company had the option to increase the quota share percentage from 75% to a maximum of 85% or decrease the quota share percentage from 75% to a minimum of 55% by giving no less than 30 days advance notice. On May 12, 2014, the Company notified the personal lines reinsurers of its election to reduce the ceding percentage in the personal lines quota share treaty from 75% to 55% effective July 1, 2014. The Company entered into new annual treaties with different terms effective July 1, 2015. The Company&#146;s treaties for the July 1, 2013/ June 30, 2014, July 1, 2014/June 30, 2015 and July 1, 2015/June 30, 2016 treaty years provide for the following material terms:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Treaty Year </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2015</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2014</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2013</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>to</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>to</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>to</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Line of Busines </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>June 30, 2016</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>June 30, 2015</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>June 30, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Personal Lines:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Homeowners, dwelling fire and canine legal liability</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Quota share treaty: </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">40%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">55%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">75%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;450,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;360,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to quota share reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,200,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Excess of loss coverage above quota share coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,200,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,200,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total reinsurance coverage per occurrence </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,050,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,640,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,600,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Expiration date </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2016</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2015</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2015</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Personal Umbrella </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Quota share treaty: </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded - first million dollars of coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">90%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">90%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">90%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded - excess of one million dollars of coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;100,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;100,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;100,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total reinsurance coverage per occurrence </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,900,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to quota share reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Expiration date </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2016</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2015</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2014</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Commercial Lines:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;General liability commercial policies, except for commercial auto </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Quota share treaty: </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded (terminated effective July 1, 2014) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">25%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;425,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to quota share reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Excess of loss coverage above quota share coverage </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,075,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,600,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,500,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;425,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total reinsurance coverage per occurrence </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,075,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,600,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,600,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Commercial Auto:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Excess of loss coverage in excess of risk retained </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0.25in; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Catastrophe Reinsurance:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial loss subject to personal lines quota share treaty </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained per catastrophe occurrence (1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Catastrophe loss coverage in excess of quota share coverage (2) (3) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 176,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 137,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;86,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Severe winter weather aggregate (3) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Yes </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Yes </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;No </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Reinstatement premium protection (4) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Yes </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;No </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;No </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0; font-size: 8pt"></td><td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">1.</font></td><td style="text-align: justify; font-size: 8pt"><font style="font-size: 8pt">Plus losses in excess of catastrophe coverage.</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0; font-size: 8pt"></td><td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">2.</font></td><td style="text-align: justify; font-size: 8pt"><font style="font-size: 8pt">Catastrophe coverage is limited on an annual basis to two times the per occurrence amounts. Effective July 1, 2015, the duration of a catastrophe occurrence from windstorm, hail, tornado, hurricane and cyclone was extended to 120 consecutive hours from 96 consecutive hours.</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0; font-size: 8pt"></td><td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">3.</font></td><td style="text-align: justify; font-size: 8pt"><font style="font-size: 8pt">Effective July 1, 2014, our catastrophe treaty also covers losses caused by severe winter weather during any consecutive 28 day period.</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0; font-size: 8pt"></td><td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">4.</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">Effective July 1, 2015, reinstatement premium protection for $16,000,000 of catastrophe coverage in excess of $4,000,000.</font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The single maximum risks per occurrence to which the Company is subject under the new treaties effective July 1, 2015 are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2015 - June 30, 2016</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td style="width: 44%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Treaty </b></font></td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 30%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Extent of Loss </b></font></td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Risk Retained </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$450,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$750,000 - $4,500,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Umbrella </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$100,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,000,000 - $3,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $425,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$425,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$425,000 - $4,500,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None(1)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Auto </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$300,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Catastrophe (2)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$2,400,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$4,000,000 - $180,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $180,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The single maximum risks per occurrence to which the Company is subject under the treaties that expired on June 30, 2015 and 2014 are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2014 - June 30, 2015</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2013 - June 30, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td style="width: 17%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Treaty </b></font></td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 30%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Extent of Loss </b></font></td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Risk Retained </b></font></td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 25%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Extent of Loss </b></font></td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Risk Retained </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$360,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,200,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$800,000 - $4,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,200,000 - $2,900,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Umbrella </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$100,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$100,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,000,000 - $3,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,000,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$400,000 - $4,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None(1)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$400,000 - $2,900,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None(1)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Auto </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$300,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$300,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Catastrophe (2)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$1,800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$1,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$4,000,000 - $141,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$4,000,000 - $90,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $141,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $90,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">_______________</font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">(1)</font></td><td style="text-align: justify; font-size: 8pt"><font style="font-size: 8pt">Covered by excess of loss treaties.</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">(2)</font></td><td style="text-align: justify; font-size: 8pt"><font style="font-size: 8pt">Catastrophe coverage is limited on an annual basis to two times the per occurrence amounts.</font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company&#146;s reinsurance program is structured to enable the Company to significantly grow its premium volume while maintaining regulatory capital and other financial ratios generally within or below the expected ranges used for regulatory oversight purposes. The reinsurance program also provides income as a result of ceding commissions earned pursuant to the quota share reinsurance contracts. The Company&#146;s participation in reinsurance arrangements does not relieve the Company of its obligations to policyholders.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><u>Ceding Commission Revenue</u><i> </i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company earns ceding commission revenue under its quota share reinsurance agreements based on: (i) a fixed provisional commission rate at which provisional ceding commissions are earned, and (ii) a sliding scale of commission rates and ultimate treaty year loss ratios on the policies reinsured under each of these agreements based upon which contingent ceding commissions are earned. The sliding scale includes minimum and maximum commission rates in relation to specified ultimate loss ratios. The commission rate and contingent ceding commissions earned increases when the estimated ultimate loss ratio decreases and, conversely, the commission rate and contingent ceding commissions earned decreases when the estimated ultimate loss ratio increases.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company&#146;s estimated ultimate treaty year loss ratios (&#147;Loss Ratio(s)&#148;) for treaties in effect for the nine months and three months ended September 30, 2015 are attributable to contracts for the July 1, 2015/June 30, 2016 treaty year (&#147;2015/2016 Treaty&#148;) and the July 1, 2014/June 30, 2015 treaty year (&#147;2014/2015 Treaty&#148;). The Company&#146;s Loss Ratios for treaties in effect for the nine months and three months ended September 30, 2014 are attributable to contracts for the 2014/2015 Treaty and the July 1, 2013/June 30, 2014 treaty year (&#147;2013/2014 Treaties&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white; text-indent: 0.5in"><i>&#160;</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><i>Treaties in effect for the nine months and three months ended September 30, 2015</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white">The Company&#146;s Loss Ratio for the period July 1, 2015 through September 30, 2015, which is attributable to the 2015/2016 Treaty, was higher than the contractual Loss Ratio at which provisional ceding commissions are earned. Accordingly, for the three months ended September 30, 2015, the Company&#146;s contingent ceding commission earned was reduced as a result of the estimated Loss Ratio for the 2015/2016 Treaty.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white">The Company&#146;s Loss Ratio for the period July 1, 2014 through June 30, 2015, which is attributable to the 2014/2015 Treaty, was lower than the contractual Loss Ratio at which provisional ceding commissions are earned. Accordingly, for the six months ended June 30, 2015, the Company earned contingent ceding commission revenue with respect to the 2014/2015 Treaty. However, as a result of severe winter weather during February and March 2015, the Loss Ratio was greater than what would have been expected during an ordinary winter. Such severe winter weather had the effect of reducing contingent ceding commission revenue that would have otherwise been earned.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><i>Treaties in effect for the nine months and three months ended September 30, 2014</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white">The Company&#146;s Loss Ratio for the period July 1, 2014 through September 30, 2014, which is attributable to the 2014/2015 Treaty, was lower than the contractual Loss Ratio at which provisional ceding commissions are earned. Accordingly, for the three month period ended September 30, 2014, the Company recorded contingent ceding commission earned with respect to the 2014/2015 Treaty.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white">The Company&#146;s Loss Ratios for the period July 1, 2013 through June 30, 2014, which are attributable to the 2013/2014 Treaties, were lower than the contractual Loss Ratios at which provisional ceding commissions are earned. Accordingly, for the six months ended June 30, 2014, the Company earned contingent ceding commission revenue with respect to the 2013/2014 Treaties. However, as a result of severe winter weather during January and February 2014, the Loss Ratios attributable to these treaties as of June 30, 2014 were greater than the Loss Ratios as of December 31, 2013. Such severe winter weather had the effect of reducing contingent ceding commission revenue that would have otherwise been earned.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In addition to the treaties that were in effect for nine months and three months ended September 30, 2015 and 2014, the Loss Ratios from prior years&#146; treaties are subject to change as loss reserves from those periods increase or decrease, resulting in an increase or decrease in the commission rate and contingent ceding commissions earned.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p> <p style="font: 8pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">Ceding commissions earned consists of the following:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30,</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30,</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Provisional ceding commissions earned </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,854,524 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,653,690 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;8,734,477 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;9,660,437 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Contingent ceding commissions earned </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(210,993)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;624,629 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;653,980 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;705,214 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,643,531 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,278,319 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;9,388,457 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 10,365,651 </font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></p> <p style="margin-top: 0; margin-bottom: 0; font-size: 8pt"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Provisional ceding commissions are settled monthly. Balances due from reinsurers for contingent ceding commissions on quota share treaties are settled annually based on the loss ratio of each treaty year that ends on June 30.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Kingstone maintains a Promissory Note pursuant to a line of credit (together, the &#147;Trustco Agreement&#148;) with Trustco Bank (&#147;Lender&#148;). Under the Trustco Agreement, Kingstone may receive advances from Lender not to exceed an unpaid principal balance of $600,000 (the &#147;Credit Limit&#148;). Advances extended under the Trustco Agreement will bear interest at a floating rate based on the Lender&#146;s prime rate, which was 3.75% at September 30, 2015.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Interest only payments are due monthly. The principal balance is payable on demand, and must be reduced to zero for a minimum of thirty consecutive days during each year of the term of the Trustco Agreement. The line of credit is subject to annual renewal at the discretion of the Lender. Lender may set off any depository accounts maintained by Kingstone that are held by Lender. Payment of amounts due pursuant to the Trustco Agreement is secured by all of Kingstone&#146;s cash and deposit accounts, receivables, inventory and fixed assets, and is guaranteed by Kingstone&#146;s subsidiary, Payments Inc.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The line of credit is used for general corporate purposes.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">There were no outstanding balances under the bank line of credit as of September 30, 2015 and December 31, 2014, or during the nine months ended September 30, 2015 and 2014. There are no other fees in connection with this credit line.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Dividend Declared</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font: 8pt Times New Roman, Times, Serif">Dividends declared and paid on Common Stock were $1,098,946 and $947,186 for the nine months ended September 30, 2015 and 2014, respectively. Dividends declared and paid on Common Stock were $366,756 and $364,747 for the three months ended September 30, 2015 and 2014, respectively. The Company&#146;s Board of Directors approved a quarterly dividend on November 10, 2015 of $.0625 per share payable in cash on December 14, 2015 to stockholders of record as of November 30, 2015 (see Note 13).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Stock Options</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Pursuant to the Company&#146;s 2005 Equity Participation Plan (the &#147;2005 Plan&#148;), which provides for the issuance of incentive stock options, non-statutory stock options and restricted stock, a maximum of 700,000 shares of the Company&#146;s Common Stock are permitted to be issued pursuant to options granted and restricted stock issued. Effective August 12, 2014, the Company adopted the 2014 Equity Participation Plan (the &#147;2014 Plan&#148;) pursuant to which, subject to stockholder approval on or before August 12, 2015, a maximum of 700,000 shares of Common Stock of the Company are authorized to be issued pursuant to the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock and stock bonuses. The stockholders approved the 2014 Plan on August 11, 2015. Incentive stock options granted under the 2014 Plan and 2005 Plan expire no later than ten years from the date of grant (except no later than five years for a grant to a 10% stockholder). The Board of Directors or the Stock Option Committee determines the expiration date with respect to non-statutory stock options and the vesting provisions for restricted stock granted under the 2014 Plan and 2005 Plan.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The results of operations for the nine months ended September 30, 2015 and 2014 include stock-based stock option compensation expense totaling approximately $130,000 and $119,000, respectively. The results of operations for the three months ended September 30, 2015 and 2014 include stock-based stock option compensation expense totaling approximately $52,000 and $92,000, respectively. Stock-based compensation expense related to stock options is net of estimated forfeitures of 17% for the nine months and three months ended September 30, 2015 and 20% for the nine months and three months ended September 30, 2014. Such amounts have been included in the condensed consolidated statements of income and comprehensive income within other operating expenses.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Stock-based compensation expense in 2015 and 2014 is the estimated fair value of options granted amortized on a straight-line basis over the requisite service period for the entire portion of the award. The weighted average estimated fair value of stock options granted during the three and nine months ended September 30, 2015 and 2014 was $1.87 and $1.60 per share, respectively. The fair value of stock options at the grant date was estimated using the Black-Scholes option-pricing model. The following weighted average assumptions were used for grants during the following periods:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Three months ended&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Nine months ended&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;September 30,&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;September 30,&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; width: 53%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2015&#160;</font></td> <td style="text-align: center; width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2014&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2015&#160;</font></td> <td style="text-align: center; width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2014&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dividend Yield</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.62%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.97%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.62%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.97%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Volatility</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif">34.54<font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40.53%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif">35.54<font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40.53%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1.03%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.92%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1.03%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.92%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expected Life</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.0 years&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.25 years&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.0 years&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.25 years&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><br />&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options, which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions including the expected stock price volatility. Because our stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management's opinion, the existing models do not necessarily provide a reliable single measure of the fair value of our stock options.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">A summary of stock option activity under the Company&#146;s 2005 and 2014 Plans for the nine months ended September 30, 2015 is as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="width: 48%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Stock Options</font></td> <td style="width: 10%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">Number of Shares</font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 13%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted Average Exercise Price per Share </font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted Average Remaining Contractual Term </font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Aggregate Intrinsic Value </font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding at January 1, 2015</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;421,250 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5.16 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.13 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;1,258,013 </font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Granted (1)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;50,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6.73 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;95,500 </font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Exercised</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;(123,750)</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2.58 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;662,488 </font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,500)</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5.09 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding at September 30, 2015</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;345,000 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6.32 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.60 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;801,075 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">Vested and Exercisable at September 30, 2015</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;186,875 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6.22 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.55 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;451,706 </font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="width: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1)</font></td><td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">On August 12, 2014, 50,000 options were awarded under the 2014 Plan, which were subject to stockholder approval. The options were granted upon the stockholders&#146; approval of the 2014 Plan on August 11, 2015.</font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The aggregate intrinsic value of options outstanding and options exercisable at September 30, 2015 is calculated as the difference between the exercise price of the underlying options and the market price of the Company&#146;s Common Stock for the options that had exercise prices that were lower than the $8.64 closing price of the Company&#146;s Common Stock on September 30, 2015. The total intrinsic value of options exercised in the nine months ended September 30, 2015 was $662,488, determined as of the date of exercise.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Participants in the 2005 and 2014 Plans may exercise their outstanding vested options, in whole or in part, by having the Company reduce the number of shares otherwise issuable by a number of shares having a fair market value equal to the exercise price of the option being exercised (&#147;Net Exercise&#148;). All of the 123,750 options exercised during the nine months ended September 30, 2015 were Net Exercises. A total of 70,115 options were exercised during the nine months ended September 30, 2014.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 30, 2015, the fair value of unamortized compensation cost related to unvested stock option awards was approximately $126,000. Unamortized compensation cost as of September 30, 2015 is expected to be recognized over a remaining weighted-average vesting period of 1.25 years.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As of September 30, 2015, there were 1,135 shares reserved for grants under the 2005 Plan and 650,000 shares reserved for grants under the 2014 Plan.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Income taxes for the nine months ended September 30, 2015 and 2014 were computed using the effective tax rate estimated to be applicable for the full year, which is subject to ongoing review and evaluation by management. The Company files a consolidated U.S. federal income tax return that includes all wholly owned subsidiaries. State tax returns are filed on a consolidated or separate basis depending on applicable laws. The Company records adjustments related to prior years&#146; taxes during the period when they are identified, generally when the tax returns are filed.&#160;&#160; The effect of these adjustments on the current and prior periods (during which the differences originated) is evaluated based upon quantitative and qualitative factors and are considered in relation to&#160;the financial statements taken as a whole for the respective periods. The Company has evaluated this year&#146;s amounts in relation to the current and prior reporting periods and determined that a restatement of those prior reporting periods is not appropriate. The Company&#146;s effective tax rate from operations for the nine months ended September 30, 2015 and 2014 was 33.0% and 32.1%, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Deferred tax assets and liabilities are determined using the enacted tax rates applicable to the period the temporary differences are expected to be recovered. Accordingly, the current period income tax provision can be affected by the enactment of new tax rates. The net deferred income taxes on the balance sheet reflect temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and income tax purposes, tax effected at a various rates depending on whether the temporary differences are subject to federal taxes, state taxes, or both. Significant components of the Company&#146;s deferred tax assets and liabilities are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 61%; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 18%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="width: 4%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 17%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;December 31, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred tax asset:&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net operating loss carryovers (1) </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;187,613 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;211,550 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Claims reserve discount&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;396,089 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;562,941 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Unearned premium&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,524,398 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,741,360 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred ceding commission revenue </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,063,768 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,025,224 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Other </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;110,286 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;88,148 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total deferred tax assets&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,282,154 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,629,223 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred tax liability:&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Investment in KICO (2) </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,169,000 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,169,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred acquisition costs </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,555,280 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,055,234 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Intangibles </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;638,093 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;759,400 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Depreciation and amortization&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;286,684 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;291,689 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net unrealized appreciation of securities - available for sale </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;288,558 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;491,080 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total deferred tax liabilities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,937,615 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,766,403 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net deferred income tax liability </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(655,461)</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(1,137,180)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">___________________</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0.25in; font-size: 8pt"></td><td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">(1)</font></td><td style="font-size: 8pt"><font style="font-size: 8pt">The deferred tax assets from net operating loss carryovers (&#147;NOL&#148;) are as follows:</font></td></tr></table> <p style="margin-top: 0; margin-bottom: 0; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></p> <p style="margin-top: 0; margin-bottom: 0; font-size: 8pt"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; width: 51%"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt; width: 16%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt; width: 16%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;December 31, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; width: 17%"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Type of NOL </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Expiration</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;State only (A) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;518,426 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;567,188 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">December 31, 2035</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Valuation allowance </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(344,413)</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(372,638)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;State only, net of valuation allowance </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;174,013 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;194,550 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Amount subject to Annual Limitation, federal only (B) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,600 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">December 31, 2019</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total deferred tax asset from net operating loss carryovers </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;187,613 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;211,550 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> </table> <p style="margin-top: 0; margin-bottom: 0; font-size: 8pt"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">(A) Kingstone generates operating losses for state purposes and has prior year NOLs available. The state NOL as of September 30, 2015 and December 31, 2014 was approximately $7,976,000 and $6,834,000, respectively. KICO, the Company&#146;s insurance underwriting subsidiary, is not subject to state income taxes. KICO&#146;s state tax obligations are paid through a gross premiums tax, which is included in the condensed consolidated statements of income and comprehensive income within other underwriting expenses. A valuation allowance has been recorded due to the uncertainty of generating enough state taxable income to utilize 100% of the available state NOLs over their remaining lives, which expire between 2027 and 2035. Effective January 1, 2015, the enacted state tax rate was reduced to 6.5% from 8.33%, resulting in a current period decrease in the available benefit of the state NOL, net of the corresponding valuation adjustment. The decrease in the available benefit of the state net NOL increased the tax provision in the current period by $49,881.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">(B) The Company has an NOL of $40,000 that is subject to Internal Revenue Code Section 382, which places a limitation on the utilization of the federal NOL loss to approximately $10,000 per year (&#147;Annual Limitation&#148;) as a result of a greater than 50% ownership change of the Company in 1999. The losses subject to the Annual Limitation will be available for future years, expiring through December 31, 2019.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top; font-size: 8pt"> <td style="width: 0.25in; font-size: 8pt"></td><td style="width: 0.25in; font-size: 8pt"><font style="font-size: 8pt">(2)</font></td><td style="text-align: justify; font-size: 8pt"><font style="font-size: 8pt">Deferred tax liability - investment in KICO</font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">On July 1, 2009, the Company completed the acquisition of 100% of the issued and outstanding common stock of KICO (formerly known as Commercial Mutual Insurance Company (&#147;CMIC&#148;)) pursuant to the conversion of CMIC from an advance premium cooperative to a stock property and casualty insurance company. Pursuant to the plan of conversion, the Company acquired a 100% equity interest in KICO, in consideration for the exchange of $3,750,000 principal amount of surplus notes of CMIC. In addition, the Company forgave all accrued and unpaid interest on the surplus notes as of the date of conversion. As of the date of acquisition, unpaid accrued interest on the surplus notes along with the accretion of the discount on the original purchase of the surplus notes totaled $2,921,319 (together &#147;Untaxed Interest&#148;). As of the date of acquisition, the deferred tax liability on the Untaxed Interest was $1,169,000. Under GAAP guidance for business combinations, a temporary difference with an indefinite life exists when the parent has a lower carrying value of its subsidiary for income tax purposes. The Company is required to maintain its deferred tax liability of $1,169,000 related to this temporary difference until the stock of KICO is sold, or the assets of KICO are sold or KICO and the parent are merged.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">In assessing the valuation of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. No valuation allowance against deferred tax assets has been established, except for NOL limitations, as the Company believes it is more likely than not the deferred tax assets will be realized based on the historical taxable income of KICO, or by offset to deferred tax liabilities.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company had no material unrecognized tax benefit and no adjustments to liabilities or operations were required. There were no interest or penalties related to income taxes that have been accrued or recognized as of and for the six months ended June 30, 2015 and 2014. If any had been recognized these would be reported in income tax expense.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"><u>IRS Tax Audit</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The tax returns for years ended December 31, 2012 through 2014 are subject to examination, generally for three years after filing.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In March 2014, the Company received a notice that its federal income tax returns for the years ended December 31, 2011 and 2012 were selected for examination by the Internal Revenue Service. On March 31, 2014, the Company was notified that the examination was cancelled.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Basic net earnings per common share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per common share reflect, in periods in which they have a dilutive effect, the impact of common shares issuable upon exercise of stock options. The computation of diluted earnings per common share excludes those options with an exercise price in excess of the average market price of the Company&#146;s common shares during the periods presented.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The computation of diluted earnings per common share excludes outstanding options in periods where the exercise of such options would be anti-dilutive. For the nine months ended September 30, 2015 and 2014, the inclusion of 50,000 and 32,473 options, respectively, in the computation of diluted earnings per common share would have been anti-dilutive for the periods and, as a result, the weighted average number of common shares used in the calculation of diluted earnings per common share has not been adjusted for the effect of such options. For the three months ended September 30, 2015 and 2014, the inclusion of 50,000 and 86,522 options, respectively, in the computation of diluted earnings per common share would have been anti-dilutive for the periods and, as a result, the weighted average number of common shares used in the calculation of diluted earnings per common share has not been adjusted for the effect of such options.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The reconciliation of the weighted average number of common shares used in the calculation of basic and diluted earnings per common share follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted average number of shares outstanding </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,334,269 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,294,913 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,330,178 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,283,244 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Effect of dilutive securities, common share equivalents </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;47,357 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;83,184 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,536 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;77,050 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted average number of shares outstanding, </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;used for computing diluted earnings per share </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,381,626 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,378,097 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,367,714 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,360,294 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"><u>Litigation</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">From time to time, the Company is involved in various legal proceedings in the ordinary course of business. For example, to the extent a claim asserted by a third party in a law suit against one of the Company&#146;s insureds covered by a particular policy, the Company may have a duty to defend the insured party against the claim. These claims may relate to bodily injury, property damage or other compensable injuries as set forth in the policy. Such proceedings are considered in estimating the liability for loss and LAE expenses. The Company is not subject to any other pending legal proceedings that management believes are likely to have a material adverse effect on the financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt"><u>State Insurance Regulation</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">In the aftermath of Superstorm Sandy, the New York State Department of Financial Services (the &#147;DFS&#148;) adopted various regulations that affect insurance companies that operate in the state of New York. Included among the regulations are accelerated claims investigation and settlement requirements and mandatory participation in non-binding mediation proceedings funded by the insurer. Further, in February 2013, the state of New York announced that the DFS commenced an investigation into the claims practices of three insurance companies, including KICO, in connection with Superstorm Sandy claims. The DFS stated that the three insurers had a much larger than average consumer complaint rate with regard to Superstorm Sandy claims and indicated that the three insurers were being investigated for (i) failure to send adjusters in a timely manner; (ii) failure to process claims in a timely manner; and (iii) inability of homeowners to contact insurance company representatives. KICO received a letter from the DFS seeking information and data with regard to the foregoing. KICO has cooperated with the DFS in connection with its investigation. On March 14, 2013, KICO supplied requested information and met with the DFS on May 23, 2013. KICO has not received a response from the DFS since its meeting on May 23, 2013 and believes that such matter will not have any effect on the Company&#146;s financial position or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; background-color: white"><font style="font-size: 8pt"><u>Office Lease </u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">On March 27, 2015, the Company entered into a lease agreement for an additional office facility for KICO located in Valley Stream, NY under a non-cancelable operating lease. In addition to the base rental costs, occupancy lease agreements generally provide for rent escalations resulting from increased assessments from real estate taxes and other charges.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The lease commencement date was July 1, 2015 and rent commencement begins January 1, 2016. The lease has a term of seven years and six months.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Rent expense under the lease will be recognized on a straight-line basis over the lease term. At September 30, 2015, cumulative rent expense exceeded cumulative rent payments by $26,126. This difference is recorded as deferred rent and is included in accounts payable, accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">As of September 30, 2015, aggregate future minimum rental commitments under this agreement are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 70%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>For the Year </b></font></td> <td nowrap="nowrap" style="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Ending </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;December 31, </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Total </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2015</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2016</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;100,750 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2017</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;104,276 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2018</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;107,926 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;111,703 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Thereafter </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;359,119 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;783,774 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Rent expense for the nine months and three months ended September 30, 2015 amounted to $26,126 and is included in the condensed consolidated statements of income and comprehensive income within other underwriting expenses.</font></p> <p style="margin: 0 0pt; font-size: 8pt"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company&#146;s wholly owned subsidiary, Payments Inc. (&#147;Payments&#148;), is licensed as a premium finance agency in the state of New York. Prior to February 1, 2008, Payments provided premium financing in connection with the obtaining of insurance policies. Effective February 1, 2008, Payments sold its outstanding premium finance loan portfolio. The purchaser of the portfolio (the &#147;Purchaser&#148;) agreed that, during the five year period ended February 1, 2013 (which period was extended to February 1, 2015), it would purchase, assume and service all eligible premium finance contracts originated by Payments in the state of New York (the &#147;Agreement&#148;).&#160;In connection with such purchases, Payments was entitled to receive a fee generally equal to a percentage of the amount financed.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">On July 17, 2014, the Purchaser terminated the Agreement effective February 1, 2015. Following any expiration or termination of the obligation of the Purchaser to purchase premium finance contracts, Payments was entitled to receive the fees for an additional two years (&#147;Termination Period&#148;) with regard to contracts for policies from the Company&#146;s producers. On March 26, 2015, the Company and the Purchaser agreed to amend the Termination Period to end as of March 31, 2015. The Company received a one-time payment of $350,000 in exchange for the fees that the Company would have received during the Termination Period. The Company&#146;s premium financing business consisted of the placement fees that Payments earned from placing contracts.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Placement fee revenue included in other income and the related direct expenses included in other operating expenses in the condensed consolidated statements of net income and comprehensive income are as follows (unaudited):</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;For the Three Months Ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;For the Nine Months Ended </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Placement fee revenue </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,810 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;54,343 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;180,970 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Early termination fee </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;350,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Direct expenses </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(13,966)</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,989)</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(43,002)</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net income before taxes from placement fees </font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,844 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;391,354 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;137,968 </font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has evaluated events that occurred subsequent to September 30, 2015 through the date these financial statements were issued for matters that required disclosure or adjustment in these condensed consolidated financial statements.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Dividends Declared and Paid</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 10, 2015, the Company&#146;s Board of Directors approved a quarterly dividend of $.0625 per share payable in cash on December 14, 2015 to stockholders of record as of November 30, 2015.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions, which include the reserves for losses and loss adjustment expenses, are subject to considerable estimation error due to the inherent uncertainty in projecting ultimate claim amounts that will be reported and settled over a period of several years. In addition, estimates and assumptions associated with receivables under reinsurance contracts related to contingent ceding commission revenue require considerable judgment by management. On an on-going basis, management reevaluates its assumptions and the methods of calculating its estimates. Actual results may differ significantly from the estimates and assumptions used in preparing the consolidated financial statements.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements consist of Kingstone and its wholly owned subsidiaries. Subsidiaries include: (1) KICO and its wholly owned subsidiaries, CMIC Properties, Inc. (&#147;Properties&#148;) and 15 Joys Lane, LLC (&#147;15 Joys Lane&#148;), which together own the land and building from which KICO operates, and (2) Payments Inc. All significant inter-company transactions have been eliminated in consolidation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2014, the Financial Accounting Standards Board (&#147;FASB&#148;) issued Accounting Standards Update (&#147;ASU&#148;) No. 2014-08, &#147;Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. This ASU revised guidance to only allow disposals of components of an entity that represent a strategic shift (e.g., disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity) and that have a major effect on a reporting entity&#146;s operations and financial results to be reported as discontinued operations. The revised guidance also requires expanded disclosure in the financial statements for discontinued operations as well as for disposals of significant components of an entity that do not qualify for discontinued operations presentation. The Company adopted this guidance on January 1, 2015 and it did not have any effect on the Company&#146;s consolidated results of operations, financial position or cash flows.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2014, FASB issued guidance to change the recognition of revenue from contracts with customers. The core principle of the new guidance is that an entity should recognize revenue to reflect the transfer of goods and services to customers in an amount equal to the consideration the entity receives or expects to receive. The guidance will be effective for the Company for reporting periods beginning after December 15, 2016. The Company will apply the guidance using a modified retrospective approach. The Company does not expect these amendments to have a material effect on its financial statements.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2015, FASB issued guidance requiring expanded disclosures for insurance entities that issue short-duration contracts. The expanded disclosures are designed to provide additional insight into an insurance entity&#146;s ability to underwrite and anticipate costs associated with insurance claims. The disclosures include information about incurred and paid claims development by accident year, on a net basis after reinsurance, for the number of years claims incurred typically remain outstanding, not to exceed ten years. Each period presented in the disclosure about claims development that precedes the current reporting period is considered required supplementary information. The expanded disclosures also include information about significant changes in methodologies and assumptions, a reconciliation of incurred and paid claims development to the carrying amount of the liability for unpaid claims and claim adjustment expenses, the total amount of incurred but not reported liabilities plus expected development, claims frequency information including the methodology used to determine claim frequency and any changes to that methodology, and claim duration. The guidance is effective for annual periods beginning after December 15, 2015, and interim periods beginning after December 15, 2016, and is to be applied retrospectively. The new guidance affects disclosures only and will have no impact on the Company&#146;s results of operations or financial position.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has determined that all other recently&#160;issued accounting pronouncements will not have a material impact on its consolidated financial position, results of operations and cash flows, or do not apply to its operations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The amortized cost and fair value of investments in available-for-sale fixed-maturity securities and equity securities as of September 30, 2015 and December 31, 2014 are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="width: 35%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 13,682,943 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;478,684 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(37,619)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,124,008 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;441,065 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;43,005,459 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;791,305 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(333,737)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(40,438)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">43,422,589 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">417,130 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage backed </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-indent: 9pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;securities </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,523,275 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;49,488 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(24,051)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,548,712 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25,437 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;61,211,677 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,319,477 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(395,407)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(40,438)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">62,095,309 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">883,632 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,859,267 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,934 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(43,971)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">(14,598)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,824,632 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(34,635)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;6,677,720 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;296,774 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(305,834)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">6,668,660 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(9,060)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,536,987 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;320,708 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(349,805)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(14,598)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,493,292 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(43,695)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 70,748,664 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,640,185 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(745,212)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(55,036)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 71,588,601 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;839,937 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="width: 35%; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 13,862,141 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;412,490 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(23,813)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(6,379)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,244,439 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;382,298 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;36,221,300 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;803,440 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(118,092)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(30,228)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;36,876,420 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;655,120 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;50,083,441 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,215,930 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(141,905)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(36,607)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;51,120,859 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,037,418 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,172,632 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;19,180 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(62,886)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,126,280 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(46,352)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,448,677 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;444,950 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,177)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,891,449 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;442,772 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;7,621,309 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;464,130 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(65,063)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,017,729 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;396,420 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 57,704,750 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,680,060 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(144,552)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(101,670)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 59,138,588 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,433,838 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">A summary of the amortized cost and fair value of the Company&#146;s investments in available-for-sale fixed-maturity securities by contractual maturity as of September 30, 2015 and December 31, 2014 is shown below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Remaining Time to Maturity&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Less than one year&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,003,870 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,025,475 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;482,833 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;487,507 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;One to five years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;13,012,835 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;13,408,879 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;11,640,381 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;11,943,127 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Five to ten years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;39,868,480 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;40,201,676 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;32,283,921 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;32,865,231 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;More than 10&#160;years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,803,217 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,910,567 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;5,676,306 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;5,824,994 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage backed securities </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,523,275 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,548,712 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 61,211,677 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 62,095,309 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 50,083,441 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 51,120,859 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The amortized cost and fair value of investments in held-to-maturity fixed-maturity securities as of September 30, 2015 and December 31, 2014 are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 44%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;U.S. Treasury securities </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;606,380 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;163,096 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;769,476 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;163,096 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,416,537 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,142 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(46,621)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,428,058 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;11,521 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,114,281 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;91,875 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,577)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(127,694)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,075,885 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(38,396)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,137,198 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;313,113 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,577)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(174,315)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,273,419 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;136,221 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="11" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 29%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 11%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 11%; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost or&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gross Unrealized Losses </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Amortized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Less than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;More than 12 </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains/ </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Gains </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Months </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;(Losses)&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;U.S. Treasury securities </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;606,353 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;183,200 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;789,553 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;183,200 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of States, </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Territories and Possessions </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,413,303 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;49,981 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,247)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,451,037 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,734 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other bonds&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Industrial and miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;3,109,079 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;98,306 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(52,921)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;3,154,464 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;45,385 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,128,735 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;331,487 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(52,921)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,247)</font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,395,054 </font></td> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 3pt; padding-left: 3pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;266,319 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">A summary of the amortized cost and fair value of the Company&#146;s investments in held-to-maturity securities by contractual maturity as of September 30, 2015 and December 31, 2014 is shown below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Amortized</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Remaining Time to Maturity&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Cost </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b> </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Less than one year&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;One to five years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;505,150 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Five to ten years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,030,818 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,998,793 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,522,927 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,563,401 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;More than 10&#160;years&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;606,380 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;769,476 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,605,808 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,831,653 </font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,137,198 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,273,419 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,128,735 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;5,395,054 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Major categories of the Company&#146;s net investment income are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;Nine months ended&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;September 30,&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;September 30,&#160;&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 41%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Income: </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Fixed-maturity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;595,529 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;433,028 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,671,821 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,182,083 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Equity securities&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;125,379 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;116,683 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;378,084 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;372,901 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Cash and cash equivalents&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;250 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;232 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;465 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,672 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Other </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;594 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;721,158 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;549,943 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;2,050,370 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,579,250 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Expenses:&#160;&#160;</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Investment expenses&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;71,717 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;86,430 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;200,301 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;285,034 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net investment income&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;649,441 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;463,513 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,850,069 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,294,216 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The Company&#146;s net realized gains (losses) on investments are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-maturity securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized gains&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;20 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25,870 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;20 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;183,349 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized losses&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(25,886)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(20,436)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(112,097)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(48,729)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(25,866)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,434 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(112,077)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;134,620 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity securities: </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized gains </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,549 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;77,535 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;48,970 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;294,786 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Gross realized losses&#160;&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(27,170)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(19,380)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(42,611)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(42,867)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(14,621)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,155 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,359 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;251,919 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Cash and short term investments (1) </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,587 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,587 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net realized gains (losses) </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(40,487)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;115,176 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(105,718)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;438,126 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">The Company held securities with unrealized losses representing declines that were considered temporary at June 30, 2015 and December 31, 2014 as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="15" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Less than 12 months</b></font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>12 months or more</b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="width: 20%; padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Aggregate </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="15" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" colspan="2" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" colspan="2" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;852,736 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(37,619)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;852,736 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(37,619)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,963,637 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(333,737)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;450,035 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(40,438)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,413,672 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(374,175)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;backed securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,132,899 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(24,051)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,132,899 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(24,051)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 10,949,272 </font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(395,407)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25 </font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;450,035 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(40,438)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 11,399,307 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(435,845)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;727,065 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(43,971)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;697,517 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(14,598)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;1,424,582 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(58,569)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,553,900 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(305,834)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;3,553,900 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(305,834)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;4,280,965 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(349,805)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;18 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;697,517 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(14,598)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;4,978,482 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(364,403)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 3pt; padding-left: 3pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 15,230,237 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(745,212)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;43 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 1,147,552 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(55,036)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 16,377,789 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(800,248)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="15" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Less than 12 months</b></font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>12 months or more</b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="width: 20%; padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 9%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 7%; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;No. of </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Aggregate </b></font></td> <td nowrap="nowrap" style="width: 1%; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Positions </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fair </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Unrealized </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Category&#160;&#160;</b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Held </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Value </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Losses </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" colspan="2" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-Maturity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" colspan="2" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;3,013,648 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(23,813)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;126,658 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(6,379)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;3,140,306 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(30,192)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,325,579 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;(118,092)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;714,640 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(30,228)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;7,040,219 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;(148,320)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed-maturity </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;securities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;9,339,227 </font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(141,905)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;24 </font></td> <td nowrap="nowrap"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;841,298 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(36,607)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 10,180,525 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;(178,512)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity Securities: </b></font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Preferred stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;656,325 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 1,448,376 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(62,886)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;2,104,701 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(65,533)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Common stocks&#160;&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;267,000 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,177)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;267,000 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,177)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total equity securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;656,325 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,647)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 1,715,376 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(65,063)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;2,371,701 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(67,710)</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td nowrap="nowrap" style="padding-right: 2pt; padding-left: 2pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;9,995,552 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(144,552)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 2,556,674 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;(101,670)</font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;10 </font></td> <td nowrap="nowrap" style="text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 12,552,226 </font></td> <td nowrap="nowrap"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;(246,222)</font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">The Company&#146;s investments are allocated among pricing input levels at September 30, 2015 and December 31, 2014 as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 57%; border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;($ in thousands)&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 1&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 2&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 3&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Total&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-maturity securities available-for-sale </b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,124,008 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,124,008 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;35,363,872 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,058,717 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;43,422,589 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Residential mortgage backed securities </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,548,712 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;4,548,712 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed maturities&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;35,363,872 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;26,731,437 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;62,095,309 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity securities </b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,493,292 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;9,493,292 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total investments </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 44,857,164 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 26,731,437 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 71,588,601 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 57%; border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;($ in thousands)&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 1&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 2&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Level 3&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 1%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 10%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Total&#160;&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="7" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Fixed-maturity investments available-for-sale </b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Political subdivisions of </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;States, Territories and </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Possessions </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,244,439 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 14,244,439 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Corporate and other </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;bonds industrial and </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;miscellaneous </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;29,257,850 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;7,618,570 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;36,876,420 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total fixed maturities&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;29,257,850 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;21,863,009 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;51,120,859 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equity investments&#160;&#160;</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,017,729 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;8,017,729 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total investments </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 37,275,579 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 21,863,009 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 59,138,588 </font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">The estimated fair values of the Company&#146;s financial instruments as of September 30, 2015 and December 31, 2014 are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30, 2015</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 53%; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Carrying Value</b></font></td> <td style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b></font></td> <td nowrap="nowrap" style="width: 1%; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Carrying Value</b></font></td> <td style="width: 1%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fair Value</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Fixed-maturity securities held-to-maturity </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,137,198 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,273,419 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,128,735 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 5,395,054 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Cash and cash equivalents </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;6,731,629 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;6,731,629 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;9,906,878 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;9,906,878 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums receivable </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;10,832,446 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;10,832,446 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;8,946,899 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;8,946,899 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Receivables - reinsurance contracts </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,285,356 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,285,356 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,301,549 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,301,549 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Reinsurance receivables </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;31,171,559 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;31,171,559 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;35,575,276 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;35,575,276 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Real estate, net of accumulated depreciation </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,723,759 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,925,000 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,762,345 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,816,122 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Reinsurance balances payable&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,342,213 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;1,342,213 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,096,363 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;2,096,363 </font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">Premiums written, ceded and earned are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 62%; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Direct&#160;</b></font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Assumed&#160;</b></font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Ceded&#160;</b></font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;&#160;</b></font></td> <td nowrap="nowrap" style="width: 8%; border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Net&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine months ended September 30, 2015</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;67,225,990 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;34,815 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(21,913,608)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;45,347,197 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(6,984,651)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;1,362 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(3,982,790)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(10,966,079)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;60,241,339 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;36,177 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(25,896,398)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;34,381,118 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Nine months ended September 30, 2014</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;56,729,057 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;39,263 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(24,013,732)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;32,754,588 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(7,311,116)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(6,082)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(3,186,706)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(10,503,904)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;49,417,941 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;33,181 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$(27,200,438)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;22,250,684 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Three months ended September 30, 2015</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;24,570,496 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;12,945 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(3,245,871)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;21,337,570 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(3,330,333)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(1,015)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(4,876,618)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(8,207,966)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;21,240,163 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;11,930 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(8,122,489)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;13,129,604 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" colspan="2" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Three months ended September 30, 2014</b></font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums written&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;20,131,112 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;22,961 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(2,485,929)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;17,668,144 </font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Change in unearned premiums&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(2,438,306)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(12,433)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(5,322,405)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(7,773,144)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Premiums earned&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;17,692,806 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;10,528 </font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;(7,808,334)</font></td> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;9,895,000 </font></td> </tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The following table provides a reconciliation of the beginning and ending balances for unpaid losses and loss adjustment expense (&#147;LAE&#148;) reserves:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 60%; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 20%; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt; text-indent: 10pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>2015</b></font></td> <td nowrap="nowrap" style="width: 20%; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Balance at beginning of period </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;39,912,683 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;34,503,229 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Less reinsurance recoverables&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(18,249,526)</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;(17,363,975)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net balance, beginning of period </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;21,663,157 </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;17,139,254 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Incurred related to:&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Current year&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;17,353,585 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;11,043,919 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Prior years </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(469,361)</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;827,141 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total incurred&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;16,884,224 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;11,871,060 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Paid related to:&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Current year&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;9,083,229 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;4,725,526 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Prior years&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;6,843,425 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;4,834,120 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total paid&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;15,926,654 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;9,559,646 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net balance at end of period </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;22,620,727 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;19,450,668 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Add reinsurance recoverables&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;16,278,765 </font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;17,471,621 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Balance at end of period </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;38,899,492 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;36,922,289 </font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="5" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Treaty Year </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2015</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2014</b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2013</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>to</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>to</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>to</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: left"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Line of Busines </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>June 30, 2016</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>June 30, 2015</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>June 30, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Personal Lines:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Homeowners, dwelling fire and canine legal liability</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Quota share treaty: </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">40%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">55%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">75%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;450,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;360,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to quota share reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,200,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Excess of loss coverage above quota share coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,200,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,200,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total reinsurance coverage per occurrence </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,050,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,640,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,600,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Expiration date </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2016</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2015</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2015</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Personal Umbrella </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Quota share treaty: </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded - first million dollars of coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">90%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">90%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">90%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded - excess of one million dollars of coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;100,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;100,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;100,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total reinsurance coverage per occurrence </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,900,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to quota share reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Expiration date </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2016</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2015</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">June 30, 2014</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Commercial Lines:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;General liability commercial policies, except for commercial auto </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Quota share treaty: </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Percent ceded (terminated effective July 1, 2014) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">25%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;425,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 27pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to quota share reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Excess of loss coverage above quota share coverage </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,075,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,600,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,500,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;425,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;400,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total reinsurance coverage per occurrence </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,075,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,600,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,600,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Losses per occurrence subject to reinsurance coverage </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,900,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Commercial Auto:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Excess of loss coverage in excess of risk retained </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,700,000 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 0.25in; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;in excess of </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><u>Catastrophe Reinsurance:</u></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial loss subject to personal lines quota share treaty </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;4,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Risk retained per catastrophe occurrence (1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;1,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Catastrophe loss coverage in excess of quota share coverage (2) (3) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 176,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 137,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;86,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Severe winter weather aggregate (3) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Yes </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Yes </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;No </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Reinstatement premium protection (4) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Yes </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;No </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;No </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The single maximum risks per occurrence to which the Company is subject under the new treaties effective July 1, 2015 are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2015 - June 30, 2016</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td style="width: 44%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Treaty </b></font></td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 30%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Extent of Loss </b></font></td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 20%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Risk Retained </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $750,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$450,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$750,000 - $4,500,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Umbrella </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$100,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,000,000 - $3,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $425,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$425,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$425,000 - $4,500,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None(1)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,500,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Auto </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$300,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Catastrophe (2)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$2,400,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$4,000,000 - $180,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $180,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The single maximum risks per occurrence to which the Company is subject under the treaties that expired on June 30, 2015 and 2014 are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2014 - June 30, 2015</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>July 1, 2013 - June 30, 2014</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td style="width: 17%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Treaty </b></font></td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 30%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Extent of Loss </b></font></td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Risk Retained </b></font></td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 25%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Extent of Loss </b></font></td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Risk Retained </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$360,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,200,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$800,000 - $4,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,200,000 - $2,900,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Personal Umbrella </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$100,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $1,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$100,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,000,000 - $3,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$1,000,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $3,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Lines </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $400,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$400,000 - $4,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None(1)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$400,000 - $2,900,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">None(1)</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,900,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Commercial Auto </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $300,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$300,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$300,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$300,000 - $2,000,000</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None(1) </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $2,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Catastrophe (2)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$1,800,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Initial $4,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">$1,000,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$4,000,000 - $141,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$4,000,000 - $90,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;None </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $141,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Over $90,000,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">100%</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Ceding commissions earned consists of the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended&#160;</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30,</b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>September 30,</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Provisional ceding commissions earned </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,854,524 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,653,690 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;8,734,477 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;9,660,437 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Contingent ceding commissions earned </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;(210,993)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;624,629 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;653,980 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;705,214 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;2,643,531 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;3,278,319 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;9,388,457 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$ 10,365,651 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">A summary of stock option activity under the Company&#146;s 2005 and 2014 Plans for the nine months ended September 30, 2015 is as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td style="width: 48%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Stock Options</font></td> <td style="width: 10%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Number of Shares</font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted Average Exercise Price per Share </font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 11%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted Average Remaining Contractual Term </font></td> <td nowrap="nowrap" style="width: 2%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td style="width: 12%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Aggregate Intrinsic Value </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding at January 1, 2015</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;421,250 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5.16 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.13 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;1,258,013 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: top; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Granted (1)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;50,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6.73 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;95,500 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Exercised</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;(123,750)</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2.58 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;662,488 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,500)</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5.09 </font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Outstanding at September 30, 2015</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;345,000 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6.32 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.60 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;801,075 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">Vested and Exercisable at September 30, 2015</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;186,875 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6.22 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3.55 </font></td> <td nowrap="nowrap" style="vertical-align: top; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;451,706 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Significant components of the Company&#146;s deferred tax assets and liabilities are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 61%; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 18%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="width: 4%; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 17%; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;December 31, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="text-align: right; font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred tax asset:&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net operating loss carryovers (1) </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;187,613 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;211,550 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Claims reserve discount&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;396,089 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;562,941 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Unearned premium&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,524,398 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,741,360 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred ceding commission revenue </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,063,768 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,025,224 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Other </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;110,286 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;88,148 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total deferred tax assets&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,282,154 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,629,223 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred tax liability:&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Investment in KICO (2) </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,169,000 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,169,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Deferred acquisition costs </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,555,280 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,055,234 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Intangibles </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;638,093 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;759,400 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Depreciation and amortization&#160;&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;286,684 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;291,689 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="text-indent: 9pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net unrealized appreciation of securities - available for sale </font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;288,558 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;491,080 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total deferred tax liabilities&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,937,615 </font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;</font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,766,403 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net deferred income tax liability </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(655,461)</font></td> <td nowrap="nowrap" style="font-size: 8pt; padding-right: 10pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font-size: 8pt; text-align: right; padding-right: 10pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(1,137,180)</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; width: 51%"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt; width: 16%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt; width: 16%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;December 31, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; width: 17%"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Type of NOL </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>Expiration</b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;State only (A) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;518,426 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;567,188 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">December 31, 2035</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Valuation allowance </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(344,413)</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(372,638)</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;State only, net of valuation allowance </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;174,013 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;194,550 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Amount subject to Annual Limitation, federal only (B) </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,600 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17,000 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">December 31, 2019</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total deferred tax asset from net operating loss carryovers </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;187,613 </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;211,550 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">The reconciliation of the weighted average number of common shares used in the calculation of basic and diluted earnings per common share follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Three months ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Nine months ended </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 12%; border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted average number of shares outstanding </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,334,269 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,294,913 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,330,178 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,283,244 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Effect of dilutive securities, common share equivalents </font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;47,357 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;83,184 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,536 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;77,050 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Weighted average number of shares outstanding, </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;used for computing diluted earnings per share </font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,381,626 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,378,097 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,367,714 </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 8pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;7,360,294 </font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">As of September 30, 2015, aggregate future minimum rental commitments under this agreement are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 70%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>For the Year </b></font></td> <td nowrap="nowrap" style="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Ending </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;December 31, </b></font></td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Total </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2015</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2016</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;100,750 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2017</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;104,276 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2018</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;107,926 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;111,703 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Thereafter </font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;359,119 </font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Total </font></td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;783,774 </font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">Placement fee revenue included in other income and the related direct expenses included in other operating expenses in the condensed consolidated statements of net income and comprehensive income are as follows (unaudited):</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;For the Three Months Ended </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;For the Nine Months Ended </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" colspan="3" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;September 30, </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2015 </b></font></td> <td nowrap="nowrap" style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="width: 13%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;2014 </b></font></td></tr> <tr style="vertical-align: bottom; background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Placement fee revenue </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,810 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;54,343 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;180,970 </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Early termination fee </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;350,000 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Direct expenses </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(13,966)</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,989)</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(43,002)</font></td></tr> <tr style="background-color: white; font-size: 8pt"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Net income before taxes from placement fees </font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,844 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;391,354 </font></td> <td nowrap="nowrap" style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font-size: 8pt">&#160;</font></td> <td nowrap="nowrap" style="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;137,968 </font></td></tr></table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The following weighted average assumptions were used for grants during the following periods:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Three months ended&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;Nine months ended&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;September 30,&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="3" style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;September 30,&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; width: 53%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2015&#160;</font></td> <td style="text-align: center; width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2014&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2015&#160;</font></td> <td style="text-align: center; width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: right; width: 11%"><font style="font: 8pt Times New Roman, Times, Serif">&#160;2014&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Dividend Yield</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.62%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.97%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.62%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2.97%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Volatility</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">34.54%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40.53%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif">34.54<font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40.53%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1.03%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.92%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1.03%</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.92%</font></td></tr> <tr style="background-color: white; font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: middle; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expected Life</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.0 years&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.25 years&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.0 years&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;3.25 years&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> 1166834 722053