Investment Considerations: Stability
Consistent growth and profitability track record
- premium growth exceeding industry average
- 101.3% combined ratio 1995-1999
- returning to historic profitability
14.4% annualized growth in book value since 1997
- portfolio return exceeded that of S&P 500 in four of last six years
Agency relationships = competitive advantage
Opportunities for further growth
42 years of dividend increases