1. 2,532 NDIRF Membership 1986 - 2014

2. Schools Other City County 2014 MEMBERS’ PREMIUM DISTRIBUTION

3. Loss & Expenses Net Income (in thousands) 29-Year Revenues 2,267 13,321

4. 40,490 20,903 (in thousands) 29-Year Balance Sheet Equity Liabilities

5. (in thousands) Net Written Premium

6. (in thousands) Losses

7. Loss Reserves (in thousands)

8. Loss Ratios

9. Net Earnings (in thousands)

10. Member’s Equity

11. ( in thousands)

12. Direct Premium to Surplus Ratio NAIC: Insurance Regulatory Information System <300%

13. Liabilities to Liquid Assets Ratio NAIC: Insurance Regulatory Information System <105%

14. Two-Year Operating Ratio Combination of expenses, loss, and invest ratios <100%

15. Combined Trade Ratio <96% Expenses & Losses

16. Investment Yield Ratio

17. FIXED INCOME RATINGS Average Rating AA/A AAA AA Below BBB A BBB