Financial Data for
Max Specialty Ins Co.

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FEIN 13-2872766
NAIC# 33189
A.M. Best Rating A (5/10)
State of Domicile Delaware , USA
Location of Main
Admin. Offices		 Richmond, VA, USA
Incorporation Date 5/13/1973
Parent Max USA Holdings, Ltd
Website http://www.maxspecialty.com

YEAR20092008200720062005
Total Admitted Assets213,741,058193,131,106159,423,26145,878,24945,708,246
Total Liabilities95,531,60565,574,40017,429,1667,738,6697,021,635
Capital & Surplus118,209,453127,556,702141,994,09538,139,58038,686,611
Premiums and Agent's Balances43,961,78830,205,8988,943,89501,544
Losses10,379,5224,149,651500,3646,257,4344,546,124
Loss Adjustment Expenses1,344,156388,5228,645800,5011,681,757
Underwriting Gain/Loss(16,768,998)(17,068,321)(12,794,414)(2,544,924)(619,382)
Net Income (Loss) After Tax(8,053,080)(11,192,918)(6,422,588)(470,710)1,275,909
Cash Flow From Operations(30,065,628)5,304,424(7,491,177)219,376(366,000)
Unrealized Capital Gains (Losses)(652,806)(695,551)000
Gross Premium283,038,332194,352,54448,242,569050,251
Net Premium23,636,42115,128,5212,726,447037,319
Gross Premium to Surplus Ratio239.4% 152.4% 34.0% .0% .1%
Net Premium to Surplus Ratio20.0% 11.9% 1.9% 0.0% 0.1%
Direct Premium - National247,445,211181,226,60448,242,567012,932
Direct Premium - Florida (Sch. T)43,117,75643,761,84912,552,53600
% of Direct Premium in Florida17.4% 24.1% 26.0% 0.0% 0.0%
Rank Among all eligible Insurers182053N/AN/A
Combined Ratio185.0% 297.0% 1708.0% 0.0% 1731.0%
Losses Incurred Ratio 51.0% 56.0% 64.0% 0.0% -1186.0%
Loss Expenses Incurred Ratio11.0% 3.0% 18.0% 0.0% 1454.0%
Other U/W Expenses Incurred Ratio123.0% 238.0% 1626.0% 0.0% 1463.0%




(13-2872766)
Quarterly Financial Data (2010) for
Max Specialty Ins Co.

QUARTER2010-Q1
Total Admitted Assets228,913,290
Total Liabilities117,181,299
Capital & Surplus111,731,991
Premiums and Agent's Balances58,977,768
Losses12,934,044
Loss Adjustment Expenses1,482,965
Underwriting Gain/Loss(7,887,311)
Net Income (Loss) After Tax(6,024,080)
Cash Flow From Operations(17,874,864)
Unrealized Capital Gains (Losses)(600,385)
Gross Premium73,119,701
Net Premium6,061,404
Direct Premium - National64,263,376
Direct Premium - Florida (Sch. T)12,649,013

Major Lines of Business in US (2009)
1 Allied Lines
2 Other Liability - Occurrence
3 Fire
4 Earthquake
5 Inland Marine
Major Lines of Business in FL (2009)
1 Allied lines
2 Other Liability - Occurrence
3 Fire
4 Earthquake
5 Inland Marine

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