<SEC-DOCUMENT>0001095073-19-000035.txt : 20190729
<SEC-HEADER>0001095073-19-000035.hdr.sgml : 20190729
<ACCEPTANCE-DATETIME>20190729162239
ACCESSION NUMBER:		0001095073-19-000035
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190726
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190729
DATE AS OF CHANGE:		20190729

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EVEREST RE GROUP LTD
		CENTRAL INDEX KEY:			0001095073
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				980365432
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15731
		FILM NUMBER:		19981456

	BUSINESS ADDRESS:	
		STREET 1:		SEON PLACE, 4TH FLOOR
		STREET 2:		141 FRONT STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 19
		BUSINESS PHONE:		4412950006

	MAIL ADDRESS:	
		STREET 1:		C/O REINSURANCE HOLDINGS INC
		STREET 2:		477 MARTINSVILLE RD PO BOX 830
		CITY:			LIBERTY CORNER
		STATE:			NJ
		ZIP:			07938

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EVEREST REINSURANCE GROUP LTD
		DATE OF NAME CHANGE:	19990915
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>group8k2q2019.htm
<DESCRIPTION>GROUP 8-K 2Q2019
<TEXT>
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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Washington, D.C. 20549</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-weight: bold;">FORM 8-K</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Current Report Pursuant to Section 13 OR 15(d) of</div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">The Securities Exchange Act of 1934</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Date of Report (Date of earliest event reported)</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">July 29, 2019</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 18pt; font-weight: bold;">Everest Re Group, Ltd.</div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">(Exact name of registrant as specified in its charter)</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" align="center" style="border-collapse: collapse; width: 95%; color: #000000; font-family: 'Franklin Gothic Book'; font-size: 9pt; text-align: left;" id="z0e180463e0974129a22e1a20e0ef304b">

          <tr>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Bermuda</div>
            </td>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">1-15731</div>
            </td>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">98-0365432</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%; vertical-align: top; border-bottom: #000000 1px solid;" rowspan="1" colspan="3"><font style="font-size: 4pt;">&#160; &#160; &#160; &#160; &#160; </font><br>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%; vertical-align: bottom; border-top: #000000 1px solid;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(State or other jurisdiction</div>
            </td>
            <td style="width: 33.33%; vertical-align: bottom; border-top: #000000 1px solid;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Commission</div>
            </td>
            <td style="width: 33.33%; vertical-align: bottom; border-top: #000000 1px solid;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(IRS Employer</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">of incorporation)</div>
            </td>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">File Number)</div>
            </td>
            <td style="width: 33.33%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Identification No.)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">&#160;</td>
            <td style="width: 33.33%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="width: 66.67%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Seon Place, 4TH Floor</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">141 Front Street</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">PO Box HM 845</div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Hamilton, HM 19, Bermuda</div>
            </td>
            <td style="width: 33.33%; vertical-align: bottom;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Not Applicable</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%; vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); font-size: 4pt;" rowspan="1" colspan="3">&#160;&#160;&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="width: 66.67%; vertical-align: bottom; border-top: #000000 1px solid;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Address of principal executive offices)</div>
            </td>
            <td style="width: 33.33%; vertical-align: bottom; border-top: #000000 1px solid;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(Zip Code)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Registrant&#8217;s telephone number, including area code 441-295-0006</div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">Not Applicable</div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
      <div style="text-align: center;">(Former name or former address, if changed since last report.) </div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
        Instruction A.2. below):</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities
        Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
      <div><br>
      </div>
      <div style="text-indent: 378pt; font-family: 'Times New Roman',Times,serif; text-align: right;">Emerging growth company&#160; &#160;&#160; ____&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
      </div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman', Times, serif;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
        standards provided pursuant to Section 12(a) of the Exchange Act. ____</div>
      <div><br>
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            <td style="width: 13%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ITEM 2.02</div>
            </td>
            <td style="width: 83%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">On July 29, 2019, the registrant issued a news release announcing its second quarter 2019 results.&#160; A copy of that news release is furnished herewith as Exhibit 99.1 and
        is incorporated herein by reference.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">The news release furnished herewith contains information regarding the registrant&#8217;s operating income (loss).&#160; Operating income (loss) differs from net income (loss)
        attributable to Everest Re Group, the most directly comparable generally accepted accounting principle financial measure, by the exclusion of realized capital gains (losses) on investments, net foreign exchange income (expense) and the impact of
        the enactment of the Tax Cuts and Jobs Act of 2017 (&#8220;TCJA&#8221;).&#160; Management believes that presentation of operating income (loss) provides useful information to investors because it more accurately measures and predicts the registrant&#8217;s results of
        operations by removing the variability arising from both the management of the registrant&#8217;s investment portfolio and the fluctuations of foreign currency exchange rates, as well as the impact of one-time items such as the enactment of the TCJA.&#160; In
        addition, management, analysts and investors use operating income (loss) to evaluate the financial performance of the registrant and the insurance industry in general.</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">In accordance with general instruction B.2 of Form 8-K, the information in this report, including exhibits, is furnished pursuant to Item 2.02 and shall not be deemed
        &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section.</div>
      <div><br>
      </div>
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            <td style="width: 13.39%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ITEM 9.01</div>
            </td>
            <td style="width: 86.61%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">FINANCIAL STATEMENTS AND EXHIBITS</div>
            </td>
          </tr>

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      <div><br>
      </div>
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            <td style="width: 4.39%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(c)</div>
            </td>
            <td style="width: 9%; vertical-align: top;">&#160;</td>
            <td style="width: 46.12%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>Exhibits</u></div>
            </td>
            <td style="width: 40.49%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 4.39%; vertical-align: top;">&#160;</td>
            <td style="width: 9%; vertical-align: top;">&#160;</td>
            <td style="width: 46.12%; vertical-align: top;">&#160;</td>
            <td style="width: 40.49%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 4.39%; vertical-align: top;">&#160;</td>
            <td style="width: 9%; vertical-align: top;">&#160;</td>
            <td style="width: 46.12%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>Exhibit No.</u></div>
            </td>
            <td style="width: 40.49%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>Description</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 4.39%; vertical-align: top;">&#160;</td>
            <td style="width: 9%; vertical-align: top;">&#160;</td>
            <td style="width: 46.12%; vertical-align: top;">&#160;</td>
            <td style="width: 40.49%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 4.39%; vertical-align: top;">&#160;</td>
            <td style="width: 9%; vertical-align: top;">&#160;</td>
            <td style="width: 46.12%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">99.1</div>
            </td>
            <td style="width: 40.49%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">News Release of the registrant,</div>
            </td>
          </tr>
          <tr>
            <td style="width: 4.39%; vertical-align: top;">&#160;</td>
            <td style="width: 9%; vertical-align: top;">&#160;</td>
            <td style="width: 46.12%; vertical-align: top;">&#160;</td>
            <td style="width: 40.49%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">dated July 29, 2019</div>
            </td>
          </tr>

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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURES</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
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          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td colspan="3" style="width: 37.39%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">EVEREST RE GROUP, LTD.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td style="width: 31.36%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td style="width: 31.36%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td style="width: 31.36%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">By:</div>
            </td>
            <td colspan="3" style="border-bottom: 0px none #000000; vertical-align: top; width: 37.39%;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>/S/ CRAIG HOWIE</u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td colspan="3" style="border-top: 0px none #000000; vertical-align: top; width: 37.39%;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Craig Howie</div>
            </td>
          </tr>
          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td colspan="3" style="width: 37.39%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Executive Vice President and</div>
            </td>
          </tr>
          <tr>
            <td style="width: 56.57%; vertical-align: top;">&#160;</td>
            <td style="width: 6.03%; vertical-align: top;">&#160;</td>
            <td style="width: 2.37%; vertical-align: top;">&#160;</td>
            <td colspan="2" style="width: 35.02%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Chief Financial Officer</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Dated:&#160; July 29, 2019</div>
      <div><br>
      </div>
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            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">EXHIBIT INDEX</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
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            <td style="width: 15.08%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Exhibit</div>
            </td>
            <td style="width: 17.74%; vertical-align: top;">&#160;</td>
            <td style="width: 51.96%; vertical-align: top;">&#160;</td>
            <td style="width: 15.21%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15.08%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>Number</u></div>
            </td>
            <td style="width: 17.74%; vertical-align: top;">&#160;</td>
            <td style="width: 51.96%; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>Description of Document</u></div>
            </td>
            <td style="width: 15.21%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"><u>Page No.</u></div>
            </td>
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                <div>&#160;</div>
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                <div><font style="font-size: 18pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><font style="font-size: 24pt;">N</font>EWS <font style="font-size: 24pt;">R</font>ELEASE<br>
                  </font>&#160;</div>
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                <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <img width="147" height="103" src="image0.jpg"></div>
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        <div style="margin-left: 0.9pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">EVEREST RE GROUP, LTD.</div>
        <div style="margin-left: 0.9pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Seon Place, 141 Front Street, 4<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Floor, Hamilton HM 19, Bermuda</div>
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        <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Everest Re Group Reports Second Quarter 2019 Results</div>
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        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">HAMILTON, Bermuda--(BUSINESS WIRE &#8211; July 29, 2019)</div>
        <div><br>
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        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Everest Re Group, Ltd. (&#8220;Everest&#8221;) (NYSE: RE) today reported second quarter 2019 net income of $342.9 million, or $8.39 per diluted common share,
          compared to net income of $69.9 million, or $1.70 per diluted common share for the second quarter of 2018.&#160; After-tax operating income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> was $320.9 million, or $7.85 per diluted common share, for the second quarter of 2019, compared to
          after-tax operating income&#185; of $40.4 million, or $0.98 per diluted common share, for the same period last year.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">For the six months ended June 30, 2019, net income was $691.8 million, or $16.93 per diluted common share, compared to net income of $280.2 million, or
          $6.81 per diluted common share for the six months ended June 30, 2018.&#160; After-tax operating income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> was $603.2 million, or $14.76 per diluted common share, for the six months ended June 30, 2019, compared to after-tax operating income&#185;
          of $260.1 million, or $6.32 per diluted common share, for the same period last year.</div>
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        <div style="text-align: justify; margin-top: 6pt; margin-bottom: 6pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a name="_Hlk14874242"></a>Commenting on the Company&#8217;s results, President and Chief Executive Officer Dominic J.
          Addesso said: &#8220;Everest delivered outstanding results for the quarter, with a 16.1% annualized net income return on equity, driven by both solid underwriting and investment performance. With nearly $9 billion in common equity and strong franchises
          in both reinsurance and insurance, our ability to adjust the mix of business to optimize our portfolio was again evident this quarter, as Everest added top line in insurance and casualty reinsurance along with a strong property cat renewal to
          take advantage of the improved market conditions.&#8221;</div>
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        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Operating highlights for the second quarter of 2019 included the following:</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Gross written premiums for the quarter were $2.2 billion, an increase of 5% compared to the second quarter of 2018. Direct insurance premiums were up 17%,
                    from second quarter 2018, to $757.1 million, continuing with the diversified growth trends noted in recent years. Worldwide reinsurance premiums were essentially flat at $1.4 billion for both the second quarter of 2019 and 2018.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">The combined ratio was 89.2% for the quarter compared to 105.1% in the second quarter of 2018.&#160; Excluding catastrophe losses, reinstatement premiums and the
                    favorable prior period loss development, the current quarter attritional combined ratio was 88.6% compared to 83.5% in the same period last year.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a name="_Hlk14939693"></a>There were no current year catastrophe losses incurred in the quarter.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">There was $30 million of adverse development recorded in the quarter related to prior year catastrophe events, mostly offset by $21 million of favorable prior
                    year attritional losses.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Net investment income increased 27% for the quarter to $179.0 million.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Net after-tax realized capital gains amounted to $26.0 million for the quarter compared to $10.5 million during the second quarter of 2018.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Cash flow from operations was $853.5 million for the six months ended June 30, 2019 compared to $132.6 million for the same period in 2018.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">During the quarter, the Company purchased 39,440 shares at a total cost of $8.5 million.&#160; The repurchases were made pursuant to a share repurchase
                    authorization, provided by the Company&#8217;s Board of Directors, under which there remains 1.3 million shares available.</div>
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                  <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Shareholders&#8217; equity ended the quarter at $8.9 billion compared to $7.9 billion at year end 2018.&#160; Book value per share was up from $194.43 at December 31,
                    2018 to $218.07 at June 30, 2019.</div>
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        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">This news release contains forward-looking statements within the meaning of the U.S. federal securities laws.&#160; We intend these
          forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws.&#160; These statements involve risks and uncertainties that could cause actual results to differ materially from
          those contained in forward-looking statements made on behalf of the Company.&#160; These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the adequacy of our
          reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market fluctuations, trends in insured and paid losses, catastrophes, regulatory and legal
          uncertainties and other factors described in our latest Annual Report on Form 10-K.&#160; The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or
          otherwise.</div>
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        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>About Everest Re Group, Ltd.</u></div>
        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Everest Re Group, Ltd. (&#8220;Everest&#8221;) is a leading global provider of reinsurance and insurance, operating for more than 40 years
          through subsidiaries in the U.S., Europe, Bermuda and other territories.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Everest offers property, casualty, and specialty products through its various operating affiliates located in key markets around
          the world.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Everest common stock (NYSE:RE) is a component of the S&amp;P 500 index.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">A conference call discussing the second quarter results will be held at 10:30 a.m. Eastern Time on July 30, 2019. The call will be available on the
          Internet through the Company&#8217;s web site or at <font style="color: #0000FF;"><u>www.streetevents.com</u></font>.</div>
        <div><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Additional information about Everest, our people, and our products can be found on our website at <font style="color: #0000FF;"><u>www.everestre.com</u></font></div>
        <div><br>
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        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Recipients are encouraged to visit the Company&#8217;s web site to view supplemental financial information on the Company&#8217;s results.&#160; The supplemental
          information is located at <font style="color: #0000FF;"><u>www.everestre.com</u></font> in the &#8220;Financial Reports&#8221; section of the &#8220;Investor Center&#8221;.&#160; The supplemental financial information may also be obtained by contacting the Company directly.</div>
        <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 7pt;">_______________________________________________</div>
        <div><font style="font-size: 7pt;">&#160;&#160;&#160;&#160; </font><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1 </sup><font style="font-size: 8pt;">The Company generally uses after-tax operating income (loss), a non-GAAP financial measure, to evaluate its
            performance.&#160; After-tax operating income (loss) consists of net income (loss) excluding after-tax net realized capital gains (losses), after-tax net foreign exchange income (expense), and the tax charge related&#160; to the enactment of the Tax Cuts
            and Jobs Act of 2017 (TCJA), as the following reconciliation displays:</font></div>
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                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Three Months Ended</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Three Months Ended</div>
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                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">March 31,</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
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                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">March 31,</div>
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                <div style="font-family: 'Times New Roman',Times,serif;">(Dollars in thousands, except per share amounts)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%; text-align: center;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%; text-align: center;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">2018</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%; text-align: center;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">2019</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%; text-align: center;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">2018</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
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                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(unaudited)</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="6" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(unaudited)</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: bottom; width: 34%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: bottom; width: 34%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
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              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;"> Per</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Per Diluted</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Per Diluted</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Per Diluted</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: bottom; width: 34%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Common</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Common</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Common</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Common</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 34%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
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              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Amount</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Share</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Amount</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Share</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Amount</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Share</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Amount</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Share</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 34%;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="2" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Net income (loss)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">342,855</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">8.39</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">69,895</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">1.70</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">691,755</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">16.93</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">280,213</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">6.81</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">After-tax net realized capital gains (losses)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">25,994</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">0.64</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">10,519</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">0.26</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">99,899</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">2.44</div>
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              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(8,836</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(0.21</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">)</div>
              </td>
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            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">After-tax net foreign exchange income (expense)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(4,001</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(0.10</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">19,026</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">0.46</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(11,374</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">(0.28</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">28,959</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">0.70</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 34%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">After-tax operating income (loss)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">320,862</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">7.85</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">40,350</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">0.98</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">603,230</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">14.76</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">260,090</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 1px; background-color: #CCEEFF;">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">$</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">6.32</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 34%; background-color: rgb(255, 255, 255);">
                <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">&#160;</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: middle; width: 34%; background-color: rgb(204, 238, 255); font-size: 7pt;">
                <div style="font-family: 'Times New Roman',Times,serif;">(Some amounts may not reconcile due to rounding.)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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        </table>
        <div><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Although net realized capital gains (losses) and net foreign exchange income (expense) are an integral part of the Company&#8217;s insurance operations, the
          determination of net realized capital gains (losses) and foreign exchange income (expense) is independent of the insurance underwriting process.&#160; The Company believes that the level of net realized capital gains (losses) and net foreign exchange
          income (expense) for any particular period is not indicative of the performance of the underlying business in that particular period.&#160; Providing only a GAAP presentation of net income (loss) makes it more difficult for users of the financial
          information to evaluate the Company&#8217;s success or failure in its basic business, and may lead to incorrect or misleading assumptions and conclusions.&#160; The Company understands that the equity analysts who follow the Company focus on after-tax
          operating income (loss) in their analyses for the reasons discussed above.&#160; The Company provides after-tax operating income (loss) to investors so that they have what management believes to be a useful supplement to GAAP information concerning
          the Company&#8217;s performance.</div>
        <div style="font-size: 8pt;"><br>
        </div>
        <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Return on equity calculations use adjusted shareholders&#8217; equity excluding net after-tax unrealized (appreciation) depreciation of investments.</div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Contact:</div>
        <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Everest Re Group, Ltd.</div>
        <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Jon Levenson, Head of Investor Relations</div>
        <div style="color: #0000FF; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>Investor.relations@everestre.com</u></div>
        <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Phone (908) 604-3169</div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">--Financial Details Follow--</div>
      </div>
      <div style="font-size: 9pt;"><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
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      </div>
      <div style="font-size: 9pt;"><br>
      </div>
      <div style="font-size: 9pt;"><br>
      </div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 66%;">
              <div style="color: rgb(0, 0, 0);"><a name="RANGE!A1:H51"></a>EVEREST RE GROUP, LTD.</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 66%;">
              <div style="color: rgb(0, 0, 0);">CONSOLIDATED STATEMENTS OF OPERATIONS</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 66%;">
              <div style="color: rgb(0, 0, 0);">AND COMPREHENSIVE INCOME (LOSS)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 66%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 66%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="6">
              <div style="text-align: center;">Three Months Ended</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="6">
              <div style="text-align: center;">Six Months Ended</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; padding-bottom: 1px; width: 66%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="6">
              <div style="text-align: center; color: rgb(0, 0, 0);"> June 30,</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="6">
              <div style="text-align: center; color: rgb(0, 0, 0);">June 30,</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; padding-bottom: 1px; font-size: 7pt; width: 66%;">
              <div>(Dollars in thousands, except per share amounts)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: center; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2018</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: center; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: center; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2018</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="6">
              <div style="text-align: center;">(unaudited)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="6">
              <div style="text-align: center;">(unaudited)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%;">
              <div style="color: rgb(0, 0, 0);">REVENUES:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div>Premiums earned</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,817,299</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,729,818</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,549,996</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,349,245</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div>Net investment income</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>179,028</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>141,322</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>320,004</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>279,616</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div>Net realized capital gains (losses):</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 7.5pt;">Other-than-temporary impairments on fixed maturity securities</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(5,157</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(888</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(8,090</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(958</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 7.5pt;">Other-than-temporary impairments on fixed maturity securities</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 22.5pt;">transferred to other comprehensive income (loss)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 7.5pt;">Other net realized capital gains (losses)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>35,429</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>16,664</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>130,594</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(8,167</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div>Total net realized capital gains (losses)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>30,272</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>15,776</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>122,504</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(9,125</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div>Net derivative gain (loss)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>353</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>2,987</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,584</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,260</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div>Other income (expense)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(7,977</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>3,036</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(17,030</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>15,100</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Total revenues</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>2,018,975</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,892,939</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,979,058</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,638,096</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">CLAIMS AND EXPENSES:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div>Incurred losses and loss adjustment expenses</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,094,630</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,341,314</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,143,180</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,398,491</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div>Commission, brokerage, taxes and fees</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>420,950</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>383,402</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>810,424</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>741,041</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div>Other underwriting expenses</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>104,833</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>93,099</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>203,818</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>189,383</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div>Corporate expenses</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>7,535</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>6,633</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>14,187</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>15,629</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div>Interest, fees and bond issue cost amortization expense</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>8,434</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>7,728</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>16,065</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>15,146</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Total claims and expenses</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,636,382</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,832,176</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,187,674</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,359,690</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">INCOME (LOSS) BEFORE TAXES</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>382,593</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>60,763</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>791,384</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>278,406</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div>Income tax expense (benefit)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>39,738</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(9,132</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>99,629</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(1,807</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">NET INCOME (LOSS)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>342,855</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>69,895</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>691,755</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>280,213</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div>Other comprehensive income (loss), net of tax:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 7.5pt;">Unrealized appreciation (depreciation) ("URA(D)") on securities arising during the period</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>197,759</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(41,776</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>430,824</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(232,400</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 7.5pt;">Reclassification adjustment for realized losses (gains) included in net income (loss)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(1,869</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>249</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(3,691</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(8,523</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 22.5pt;">Total URA(D) on securities arising during the period</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>195,890</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(41,527</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>427,133</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(240,923</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 7.5pt;">Foreign currency translation adjustments</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(25,832</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(63,652</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(11,780</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(45,953</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 7.5pt;">Reclassification adjustment for amortization of net (gain) loss included in net income (loss)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,151</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,815</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>2,302</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,630</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 22.5pt;">Total benefit plan net gain (loss) for the period</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,151</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,815</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,302</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>3,630</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Total other comprehensive income (loss), net of tax</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>171,209</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(103,364</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>417,655</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(283,246</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>COMPREHENSIVE INCOME (LOSS)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>514,064</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(33,469</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,109,410</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(3,033</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div>EARNINGS PER COMMON SHARE:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 15pt;">Basic</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>8.42</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1.71</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>16.98</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>6.85</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 66%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 15pt;">Diluted</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>8.39</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>1.70</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>16.93</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 5%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>6.81</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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      <div style="font-size: 9pt;"><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
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      <div style="font-size: 9pt;"><br>
      </div>
      <div style="font-size: 9pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Franklin Gothic Book'; font-size: 9pt; text-align: left; color: #000000; width: 99%;" id="z25280b8a5bc6481cb56076a72bd5c47c">

          <tr>
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              <div style="color: rgb(0, 0, 0);"><a name="RANGE!A1:D52"></a>EVEREST RE GROUP, LTD.</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">
              <div style="color: rgb(0, 0, 0);">CONSOLIDATED BALANCE SHEETS</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);"> June 30,</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);"> December 31,</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
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          <tr>
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              <div style="color: rgb(0, 0, 0);">(Dollars and share amounts in thousands, except par value per share)</div>
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            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: center; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: center; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2018</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(unaudited)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%;">
              <div>ASSETS:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Fixed maturities - available for sale, at market value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>15,804,524</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>15,225,263</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 17pt; color: rgb(0, 0, 0);">(amortized cost: 2019, $15,506,555; 2018, $15,406,572)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Fixed maturities - available for sale, at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>2,337</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Equity securities, at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>914,654</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>716,639</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Short-term investments (cost: 2019, $744,486; 2018, $241,010)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>744,602</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>240,987</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Other invested assets (cost: 2019, $1,668,705; 2018, $1,591,745)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,668,705</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,591,745</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Cash</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>661,367</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>656,095</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 25.5pt; color: rgb(0, 0, 0);">Total investments and cash</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>19,793,852</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>18,433,066</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Accrued investment income</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>109,273</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>104,619</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Premiums receivable</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,389,943</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,218,283</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Reinsurance receivables</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,797,866</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,787,648</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Funds held by reinsureds</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>498,043</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>445,040</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Deferred acquisition costs</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>510,861</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>511,573</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Prepaid reinsurance premiums</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>476,429</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>343,343</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Income taxes</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>358,457</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>592,385</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Other assets</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td style="background-color: #FFFFFF; border-bottom: 1px solid; vertical-align: bottom; width: 1%; padding: 0px 0px 1px;" colspan="1">&#160;</td>
            <td style="background-color: #FFFFFF; border-bottom: 1px solid; vertical-align: bottom; width: 7%; padding: 0px 0px 1px; text-align: right;" colspan="1">
              <div>453,067</div>
            </td>
            <td style="background-color: #FFFFFF; border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 1%; padding: 0px 0px 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>358,042</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">TOTAL ASSETS</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>26,387,791</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>24,793,999</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>LIABILITIES:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Reserve for losses and loss adjustment expenses</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>13,249,488</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>13,119,090</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Future policy benefit reserve</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>45,130</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>46,778</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Unearned premium reserve</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,729,376</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,517,612</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Funds held under reinsurance treaties</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>10,899</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>13,099</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Other net payable to reinsurers</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>346,151</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>218,439</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Senior notes due 6/1/2044</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>397,014</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>396,954</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Long term notes due 5/1/2067</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>236,709</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>236,659</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Accrued interest on debt and borrowings</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,063</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>3,093</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Equity index put option liability</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>8,374</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>11,958</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Unsettled securities payable</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>145,568</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>51,112</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Other liabilities</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td style="background-color: #FFFFFF; border-bottom: 1px solid; vertical-align: bottom; width: 1%; padding: 0px 0px 1px;" colspan="1">&#160;</td>
            <td style="background-color: #FFFFFF; border-bottom: 1px solid; vertical-align: bottom; width: 7%; padding: 0px 0px 1px; text-align: right;" colspan="1">
              <div>331,859</div>
            </td>
            <td style="background-color: #FFFFFF; border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 1%; padding: 0px 0px 1px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>275,401</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 34pt; color: rgb(0, 0, 0);">Total liabilities</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>17,503,631</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>16,890,195</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>SHAREHOLDERS' EQUITY:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Preferred shares, par value: $0.01; 50,000 shares authorized;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 17pt; color: rgb(0, 0, 0);">no shares issued and outstanding</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>-</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>-</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
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            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 17pt; color: rgb(0, 0, 0);">and (2018) 69,202 outstanding before treasury shares</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>694</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>692</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Additional paid-in capital</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,198,461</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,188,777</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Accumulated other comprehensive income (loss), net of deferred income tax expense</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 17pt;">(benefit) of $32,754 at 2019 and ($20,697) at 2018</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(44,902</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(462,557</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>Treasury shares, at cost; 28,665 shares (2019) and 28,551 shares (2018)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(3,422,152</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(3,397,548</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Retained earnings</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>10,152,059</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>9,574,440</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 34pt; color: rgb(0, 0, 0);">Total shareholders' equity</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>8,884,160</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>7,903,804</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>26,387,791</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>24,793,999</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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      <div style="font-size: 9pt;"><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-size: 9pt;"><br>
      </div>
      <div style="font-size: 9pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Franklin Gothic Book'; font-size: 9pt; text-align: left; color: #000000; width: 99%;" id="zbb1d8db368ec440d96de0ce486c84cd9">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">
              <div style="color: rgb(0, 0, 0);"><a name="RANGE!A1:D59"></a>EVEREST RE GROUP, LTD.</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">
              <div style="color: rgb(0, 0, 0);">CONSOLIDATED STATEMENTS OF CASH FLOWS</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="6">
              <div style="text-align: center;">Six Months Ended</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; padding-bottom: 1px; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="6">
              <div style="text-align: center; color: rgb(0, 0, 0);"> June 30,</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; padding-bottom: 1px; font-size: 7pt; width: 78%;">
              <div>(Dollars in thousands)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: center; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 1px; text-align: center; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center; color: rgb(0, 0, 0);">2018</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%;">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;" colspan="6">
              <div style="text-align: center;">(unaudited)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%;">
              <div style="color: rgb(0, 0, 0);">CASH FLOWS FROM OPERATING ACTIVITIES:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>Net income (loss)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>691,755</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>280,213</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Adjustments to reconcile net income to net cash provided by operating activities:</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
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            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(178,319</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(126,355</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Decrease (increase) in funds held by reinsureds, net</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(56,180</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(77,794</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16pt;">Decrease (increase) in reinsurance receivables</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(19,319</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(467,011</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Decrease (increase) in income taxes</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>180,285</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>43,516</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16pt;">Decrease (increase) in prepaid reinsurance premiums</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(137,092</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(86,044</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Increase (decrease) in reserve for losses and loss adjustment expenses</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>155,096</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>223,202</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16pt;">Increase (decrease) in future policy benefit reserve</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(1,648</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(2,169</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Increase (decrease) in unearned premiums</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>219,263</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>151,528</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16pt;">Increase (decrease) in other net payable to reinsurers</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>132,474</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>101,970</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Increase (decrease) in losses in course of payment</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>35,738</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>162,073</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16pt;">Change in equity adjustments in limited partnerships</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(57,031</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(45,898</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Distribution of limited partnership income</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>41,321</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>42,269</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16pt;">Change in other assets and liabilities, net</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(60,820</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(111,220</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Non-cash compensation expense</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>17,171</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>17,566</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16pt;">Amortization of bond premium (accrual of bond discount)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>13,321</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>17,677</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 16pt;">Net realized capital (gains) losses</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(122,504</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>9,125</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Net cash provided by (used in) operating activities</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>853,511</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>132,648</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">CASH FLOWS FROM INVESTING ACTIVITIES:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Proceeds from fixed maturities matured/called - available for sale, at market value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,009,921</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,099,762</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>Proceeds from fixed maturities sold - available for sale, at market value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>2,318,207</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>1,225,373</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Proceeds from fixed maturities sold - available for sale, at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,706</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>1,065</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>Proceeds from equity securities sold, at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>149,233</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>576,382</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Distributions from other invested assets</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>143,752</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>2,978,865</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>Cost of fixed maturities acquired - available for sale, at market value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(3,466,331</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(2,163,331</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Cost of fixed maturities acquired - available for sale, at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(4,381</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>Cost of equity securities acquired, at fair value</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(229,070</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(722,797</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Cost of other invested assets acquired</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(207,323</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(3,168,655</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>Net change in short-term investments</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(499,983</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>213,242</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div>Net change in unsettled securities transactions</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>88,531</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(33,351</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div style="color: rgb(0, 0, 0);">Net cash provided by (used in) investing activities</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(690,357</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>2,174</div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
              <div>CASH FLOWS FROM FINANCING ACTIVITIES:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(7,485</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(9,431</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">
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            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(24,604</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(25,304</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Dividends paid to shareholders</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(114,136</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(106,480</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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              <div>Cost of shares withheld on settlements of share-based compensation awards</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(11,748</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>(14,859</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div>Net cash provided by (used in) financing activities</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(157,973</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>(156,074</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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          <tr>
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              <div style="color: rgb(0, 0, 0);">EFFECT OF EXCHANGE RATE CHANGES ON CASH</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>91</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>5,678</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(255, 255, 255);">
              <div>Net increase (decrease) in cash</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>5,272</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>(15,574</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(204, 238, 255);">
              <div>Cash, beginning of period</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>656,095</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div>635,067</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: middle; width: 78%; padding-bottom: 1px; background-color: rgb(255, 255, 255);">
              <div>Cash, end of period</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>661,367</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 1px; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">
              <div>$</div>
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              <div>619,493</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; width: 78%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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              <div style="color: rgb(0, 0, 0);">SUPPLEMENTAL CASH FLOW INFORMATION:</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
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              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(83,995</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>$</div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>(44,151</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
              <div>)</div>
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          <tr>
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              <div style="text-indent: 16pt;">Interest paid</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>15,984</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 7%; background-color: rgb(255, 255, 255);" colspan="1">
              <div>14,754</div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
