21ST Century Insurance 8-K 21ST Century Insurance Group Reports Fourth Quarter Results and Improving Growth In Direct Premiums Written

Company contact: Tony Tomich 818 / 673-3996 

FOR IMMEDIATE RELEASE February 26, 2007

21ST CENTURY INSURANCE GROUP REPORTS FOURTH QUARTER RESULTS AND IMPROVING GROWTH IN DIRECT PREMIUMS WRITTEN

(WOODLAND HILLS, CA) - 21st Century Insurance Group (NYSE: TW) today reported an upturn in premium growth. “We have improved from a 3.4% year-over-year decline in third quarter of 2006 to a 1.9% year-over-year increase in direct premiums written in the fourth quarter,” said President and Chief Executive Officer Bruce Marlow. “This turnaround is continuing in the first quarter of 2007, with new customer activity more than double the level of the first quarter of 2006. Since December 31, 2006, total company Vehicles-in-Force (“VIF”) have increased 2.3% to 1.582 million, as of February 25th, 2007,” added Marlow.

Driving the growth is the Company’s expansion into eight new states in 2006, increasing the share of total United States personal auto market in which the Company operates from 34% to 60%. Non-California VIF represents 19.0% of the Company’s total VIF as of February 25th, 2007, compared to 16.5% at year-end 2006 and 8.2% at year-end 2005.

Streamlining of Operations

The Company also announced a reduction of approximately 110 employees, a 4% reduction of the Company’s total work force of approximately 2,900 employees. The Company expects to incur approximately $3.7 million of severance expense in the first quarter of 2007 as a part of this action. The Company also intends to reduce the number of information technology contractors from approximately 300 to 20 over the next three months. A majority of the contractor cost had been capitalized. “2005 and 2006 were periods of implementation of new systems and new markets. Now that we have achieved a national capability, we are committed to reducing our expense ratio through expense management, quality of operations and growth in premiums,” said Steve Erwin, Senior Vice President and Chief Financial Officer.

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Fourth Quarter 2006 and 12 Month 2006 Results

The Company reported net income of $19.2 million ($0.22 per basic share) for the fourth quarter of 2006, compared to $26.4 million ($0.31 per basic share) for the same period in 2005. The decline in net income was primarily attributable to a planned acceleration in the Company’s national expansion efforts during the quarter and the 2006 recognition of stock-based compensation. The Company entered five new states in the fourth quarter of 2006 (Colorado, Minnesota, Missouri, New Jersey, Wisconsin). Overall, the Company entered eight new states in 2006 and increased its footprint from 34% to 60% of the United States personal auto market. The fourth quarter results also included decreases in reserves for prior accident year losses and loss adjustment expenses (“LAE”) totaling $12.4 million, versus decreases of $4.4 million in the fourth quarter of 2005. Other fourth quarter financial highlights:

· Direct premiums written of $322.5 million, versus $316.5 million in the fourth quarter of 2005 (1.9% increase)

· California direct premiums written of $271.0 million, versus $294.5 million in the fourth quarter of 2005 (8.0% decrease)

· Non-California direct premiums written of $51.5 million, versus $22.0 million in the fourth quarter of 2005 (134% increase)

· GAAP combined ratio of 96.9% versus 93.0% for the fourth quarter of 2005. 2006 was favorably impacted by 3.8 points of prior accident year loss and LAE reserve decreases, versus 1.3 points in 2005

For the twelve months ended December 31, 2006, net income was $97.2 million ($1.13 per basic share), compared to $87.4 million ($1.02 per basic share) for the same twelve-month period in 2005. The 2006 twelve-month results include net realized investment losses of $1.4 million, compared to net realized investment losses of $3.3 million for the same twelve-month period in 2005. The 2006 twelve-month results also include decreases in prior accident year loss and LAE reserves totaling $51.9 million, versus decreases of $25.1 million for the same twelve-month period in 2005. Other twelve-month financial highlights:

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· Direct premiums written of $1.315 billion, versus $1.346 billion for the same twelve-month period in 2005 (2.3% decrease)

· California direct premiums written of $1.166 billion, versus $1.262 billion for the same twelve-month period in 2005 (7.6% decrease)

· Non-California direct premiums written of $149.1 million, versus $84.1 million for the same twelve-month period in 2005 (77.3% increase)

· GAAP combined ratio of 93.7% versus 94.9% for the same twelve-month period in 2005. 2006 was favorably impacted by 4.0 points of prior accident year loss and LAE reserve decreases, versus 1.9 points in 2005

Stockholders’ equity at December 31, 2006 increased to $898.6 million, compared to $830.0 million at December 31, 2005. Book value per share at December 31, 2006 improved to $10.39 per share from $9.66 per share at December 31, 2005. Operating cash flows for the fourth quarter of 2006 were $32.0 million, compared to $37.9 million in the same period of 2005. Operating cash flows for the twelve months ended December 31, 2006 were $116.3 million, compared to $160.3 million for the same period of 2005.

Cash Dividend Doubled

On February 21, 2007, the Company’s Board of Directors declared a quarterly dividend of $0.16 per basic share. “The doubling of the dividend in the first quarter of 2007 from $0.08 per common share in 2006 to $0.16 per common share in 2007 is another indication of our commitment to maximizing long-term shareholder returns,” said Erwin. The Company previously increased cash dividends to shareholders from $0.02 in 2004 to $0.04 in 2005 and $0.08 in 2006. The cash dividend will be payable on March 29, 2007 to shareholders of record as of March 5, 2007.

Proposal from AIG

On January 24, 2007 American International Group, Inc. (“AIG”) submitted an unsolicited proposal to acquire the shares of 21st’s common stock that it does not already own for $19.75 per share in cash, or approximately $690 million. As of December 31, 2006, AIG owned approximately 61.9% of 21st. As previously announced, the 21st Board of Directors formed a Special Committee of independent directors to review and evaluate AIG’s offer and make a recommendation to the 21st Board. The Special Committee reported it is in discussions with AIG and has no further update at this time.

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“We are pleased with the increasing success of our national expansion and marketing efforts, and we continue to execute our plans during the Special Committee’s process,” said Marlow.

About 21st: Drivers Just Like You

Founded in 1958, 21st Century Insurance Group is a direct-to-consumer provider of personal auto insurance. With $1.4 billion of revenue in 2006, the Company insures over 1.5 million vehicles in 17 states, including California, Florida, New Jersey, and Texas. The Company is executing a multi-year geographic expansion strategy which increased the percentage of the U.S. private passenger automobile market in which 21st operates from approximately 18% in 2003 to approximately 60% at the end of 2006. 21st provides superior policy features and 24/7 customer service at a competitive price. Customers can purchase insurance, service their policy or report a claim at www.21st.com or on the phone with our licensed insurance professionals at 1-800-211-SAVE, 24 hours a day, 365 days a year. Service is offered in English and Spanish, both on the phone and on the web. 21st Century Insurance Company, 21st Century Casualty Company, and 21st Century Insurance Company of the Southwest are rated A+ by A. M. Best, Fitch Ratings and Standard & Poor’s.

21st Century Insurance Group is traded on the New York Stock Exchange under the trading symbol “TW” and is headquartered at 21st Century Plaza, 6301 Owensmouth Avenue, Woodland Hills, CA 91367.

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21st Century Insurance Group (NYSE: TW) will hold an earnings teleconference for investors on Tuesday, February 27th, 2007 at 11:00 a.m. EST. The public can find information about the call in the Investor Relations section of 21st.com. The call will be broadcast over the Internet via a webcast, as well.

Teleconference Details:

Dial in number - 1-866-578-5801

International dial in number - 1-617-213-8058

Passcode - 196-543-23

Teleconference Replay Details:

Available from 1pm (EST) on February 27th, 2007 until 1pm (EST) on March 13th, 2007

Dial in number - 1-888-286-8010

International dial in number - 1-617-801-6888

Passcode - 722-375-20

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Cautionary Statement:

Statements contained herein and within other publicly available documents may include, and the Company's officers and representatives may from time to time make, statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts, but instead represent only the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. These statements may address, among other things, the Company's strategy for growth, underwriting results, expected combined ratio and growth of written premiums, product development, computer systems, litigation, regulatory environment and approvals, market position, financial results, dividend policy, reserves, and potential merger transactions. It is possible that the Company's actual results, actions and financial condition may differ, possibly materially, from the anticipated results, actions and financial condition indicated in these forward-looking statements. Other important factors that could cause the Company's actual results and actions to differ, possibly materially, from those in the specific forward-looking statements include the effects of competition and competitors' pricing actions; changes in consumer preferences or buying habits; adverse underwriting and claims experience; customer service problems; the impact on Company operations of natural disasters, principally earthquake, or civil disturbance, due to the concentration of Company facilities and employees in Southern California; information system problems; control environment failures; adverse developments in financial markets or interest rates; results of legislative, regulatory or legal actions, including the inability to obtain regulatory approval for necessary licenses, rate changes and product changes and possible adverse actions by state regulators in market conduct examinations and rate proceedings; the Company’s ability to service its debt, including its ability to receive dividends and/or sufficient payments from its subsidiaries to service its obligations; and the Company’s participation in potential merger transactions. The Company is not under any obligation (and expressly disclaims any such obligation) to update or alter any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise. Additional financial information is available on the Company's website at 21st.com (which shall not be deemed to be incorporated in or a part of this release) or by request to the Investor Relations Department.

Disclosure of Non-GAAP Measures:

The Company may have included financial measures and other information in this document that may not be presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management believes these financial measures and other information may enhance investors’ understanding of the Company’s operations or enhance their understanding of the industry, in general. However, these financial measures and other information are not intended to replace, and should be read in conjunction with, the GAAP financial results. When possible, the Company has made efforts to reconcile these financial measures and other information to the most directly comparable GAAP financial measures available.

(1) Premiums Written: Premiums written represent the premiums charged on policies issued and in effect during a fiscal period. Premiums Earned, the most directly comparable GAAP measure, represents the portion of premiums written that is recognized as income in the financial statements for the periods presented and earned on a pro-rata basis over the terms of the policies. Premiums Written are meant as supplemental information and are not intended to replace Premiums Earned. (2) Statutory Surplus: Statutory surplus represents equity as of the end of a fiscal period for the Company’s insurance entities, determined in accordance with Statutory Accounting Principles (“SAP”), as prescribed by insurance regulatory authorities. Stockholders’ Equity is the most directly comparable GAAP measure. Statutory Surplus is presented as supplemental information and is not intended to replace Stockholders’ Equity. (3) Underwriting Profit (Loss): Underwriting profit (loss) consists of net premiums earned less losses from claims, loss adjustment expenses and underwriting expenses. 21st believes that underwriting profit (loss) provides investors with financial information that is not only meaningful, but critically important to understanding the results of property and casualty insurance operations. The results of operations of a property and casualty insurance company include three components: underwriting profit (loss), net investment income and realized capital gains (losses). Without disclosure of underwriting profit (loss), it is difficult to determine how successful an insurance company is in its core business activity of assessing and underwriting risk, as including investment income and realized capital gains (losses) in the results of operations without disclosing underwriting profit (loss) can mask underwriting losses. Underwriting profit (loss) is presented as supplemental information and is not intended to replace Net Income.

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These non-GAAP, financial measures should be read in conjunction with the GAAP financial results. The Company has reconciled these financial measures with the most directly comparable GAAP financial measures in the supplemental schedules.

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Ó 2007 by 21st Century Insurance Group. All rights reserved

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Exhibit A

21st Century Insurance Group
Condensed Consolidated Statements of Operations
(Unaudited)
(Amounts in thousands, except share data)
																12 Months Ended
																December 31,
	Q4'05			Q1'06			Q2'06			Q3'06			Q4'06			2005			2006
Direct premiums written	$	316,466		$	338,569		$	316,837		$	337,217		$	322,484		$	1,346,370		$	1,315,107
Net premiums written	$	315,172		$	337,223		$	315,476		$	335,810		$	321,178		$	1,341,418		$	1,309,687
Net premiums earned	$	335,626		$	325,824		$	325,512		$	327,325		$	328,924		$	1,352,937		$	1,307,585
Net losses and loss adjustment expenses		241,513			236,496			223,094			222,550			238,706			998,933			920,846
Underwriting expenses		70,495			71,933			74,391			77,518			79,940			284,334			303,782
Underwriting profit		23,618			17,395			28,027			27,257			10,278			69,670			82,957
Net investment income		18,011			17,755			17,174			16,897			16,667			69,096			68,493
Other income		3			-			10			58			570			367			638
Net realized investment (losses) gains		(606	)		(1,067	)		30			159			(551	)		(3,272	)		(1,429	)
Other expense		(410	)		-			(923	)		-			(937	)		(410	)		(1,860	)
Interest and fees expense		(1,943	)		(1,898	)		(1,854	)		(1,820	)		(1,776	)		(8,019	)		(7,348	)
Income before provision for income taxes		38,673			32,185			42,464			42,551			24,251			127,432			141,451
Provision for income taxes		12,281			10,868			14,143			14,144			5,068			40,006			44,223
Net income	$	26,392		$	21,317		$	28,321		$	28,407		$	19,183		$	87,426		$	97,228
Earnings per share - basic	$	0.31		$	0.25		$	0.33		$	0.33		$	0.22		$	1.02		$	1.13
Earnings per share - diluted	$	0.31		$	0.25		$	0.33		$	0.33		$	0.22		$	1.02		$	1.12
Weighted average shares outstanding
Basic		85,799,397			85,868,878			85,968,155			86,192,395			86,252,264			85,661,547			86,071,808
Diluted		86,427,724			86,517,163			86,232,103			86,454,509			86,844,632			86,017,994			86,512,841
Net losses and loss adjustment expense ratio		72.0	%		72.6	%		68.5	%		68.0	%		72.6	%		73.8	%		70.4	%
Underwriting expense ratio		21.0	%		22.1	%		22.9	%		23.7	%		24.3	%		21.1	%		23.3	%
Combined ratio		93.0	%		94.7	%		91.4	%		91.7	%		96.9	%		94.9	%		93.7	%
Reconciliation of direct premiums written to net premiums earned
Direct premiums written	$	316,466		$	338,569		$	316,837		$	337,217		$	322,484		$	1,346,370		$	1,315,107
Ceded premiums written		(1,294	)		(1,346	)		(1,361	)		(1,407	)		(1,306	)		(4,952	)		(5,420	)
Net premiums written		315,172			337,223			315,476			335,810			321,178			1,341,418			1,309,687
Net change in unearned premiums		20,454			(11,399	)		10,036			(8,485	)		7,746			11,519			(2,102	)
Net premiums earned	$	335,626		$	325,824		$	325,512		$	327,325		$	328,924		$	1,352,937		$	1,307,585
Net losses and loss adjustment expenses
Current accident year	$	245,870		$	243,511		$	241,215		$	236,942		$	251,075		$	1,024,073		$	972,743
Prior accident years		(4,357	)		(7,015	)		(18,121	)		(14,392	)		(12,369	)		(25,140	)		(51,897	)
Net losses and loss adjustment expenses	$	241,513		$	236,496		$	223,094		$	222,550		$	238,706		$	998,933		$	920,846

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Exhibit B

21st Century Insurance Group
Condensed Consolidated Balance Sheets
(Unaudited)
(Amounts in thousands, except share data)
	December 31,			March 31,			June 30,			September 30,			December 31,
	2005			2006			2006			2006			2006
Assets
Investments available for sale:
Fixed maturity securities, at fair value	$	1,354,707		$	1,434,761		$	1,426,728		$	1,470,385		$	1,435,016
Equity securities, at fair value		47,367			850			-			-			-
Other long-term investments, equity method		-			-			-			9,443			14,705
Total Investments		1,402,074			1,435,611			1,426,728			1,479,828			1,449,721
Cash and cash equivalents		68,668			35,146			40,188			19,497			51,999
Accrued investment income		16,585			17,333			17,304			17,006			17,215
Premiums receivable		100,900			107,231			98,887			115,513			110,115
Reinsurance receivables and recoverables		6,539			6,223			6,521			6,550			6,338
Prepaid reinsurance premiums		1,946			2,023			2,072			2,141			2,095
Deferred income taxes		56,209			59,307			57,321			42,566			48,437
Deferred policy acquisition costs		59,939			62,919			68,248			67,592			63,581
Leased property under capital lease		22,651			21,587			20,568			19,998			19,281
Property and equipment, net of accumulated depreciation		145,811			147,047			148,213			152,480			154,966
Other assets		38,907			42,183			41,323			40,277			27,949
Total assets	$	1,920,229		$	1,936,610		$	1,927,373		$	1,963,448		$	1,951,697
Liabilities and stockholders' equity
Liabilities
Unpaid losses and loss adjustment expenses	$	523,835		$	508,428		$	495,092		$	484,258		$	482,269
Unearned premiums		319,676			331,152			321,166			329,719			321,927
Debt		127,972			124,796			121,619			118,853			115,895
Claims checks payable		42,681			40,609			38,363			39,697			42,931
Reinsurance payable		643			755			748			769			680
Other liabilities		75,450			94,057			95,220			92,529			89,446
Total liabilities		1,090,257			1,099,797			1,072,208			1,065,825			1,053,148
Stockholders' equity
Common stock		86			86			86			86			86
Additional paid-in capital		425,454			430,360			435,889			438,618			441,969
Treasury stock		(84	)		(84	)		(84	)		(106	)		(259	)
Retained earnings		414,898			429,343			450,774			472,271			484,539
Accumulated other comprehensive loss		(10,382	)		(22,892	)		(31,500	)		(13,246	)		(27,786	)
Total stockholders' equity		829,972			836,813			855,165			897,623			898,549
Total liabilities and stockholders' equity	$	1,920,229		$	1,936,610		$	1,927,373		$	1,963,448		$	1,951,697
Book Value Per Share	$	9.66		$	9.72		$	9.91		$	10.39		$	10.39
Outstanding Shares		85,933,960			86,095,739			86,335,335			86,372,668			86,471,754

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Exhibit C

21st Century Insurance Group
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(Amounts in thousands)
																12 Months Ended
																December 31,
	Q4'05			Q1'06			Q2'06			Q3'06			Q4'06			2005			2006
Operating activities
Net Income	$	26,392		$	21,317		$	28,321		$	28,407		$	19,183		$	87,426		$	97,228
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		9,258			6,661			6,643			7,089			7,002			33,760			27,395
Net amortization of investment premiums and discounts		2,165			2,007			2,489			2,822			3,000			9,370			10,318
Stock-based compensation cost		81			4,099			2,379			2,274			1,664			319			10,416
Provision for premium receivable losses		896			612			539			538			494			3,372			2,183
Lease and software impairments		410			-			922			3			935			410			1,860
Provision for deferred income taxes		1,664			2,820			6,611			5,754			2,052			12,351			17,237
Net realized investment losses (gains)		493			1,067			(30	)		(159	)		551			3,272			1,429
Changes in assets and liabilities:
Premiums receivable		15,184			(6,943	)		7,805			(17,164	)		4,904			1,542			(11,398	)
Deferred policy acquisition costs		3,821			(2,980	)		(5,329	)		656			4,011			(1,180	)		(3,642	)
Reinsurance receivables and recoverables		(722	)		352			(355	)		(76	)		168			471			89
Federal income taxes		678			4,529			(1,743	)		(8,326	)		(268	)		(410	)		(5,808	)
Other assets		(10,307	)		(2,880	)		1,015			3,397			(3,155	)		(3,584	)		(1,623	)
Unpaid losses and loss adjustment expenses		6,221			(15,407	)		(13,336	)		(10,834	)		(1,989	)		28,293			(41,566	)
Unearned premiums		(20,379	)		11,476			(9,986	)		8,553			(7,792	)		(11,360	)		2,251
Claims checks payable		1,970			(2,072	)		(2,246	)		1,334			3,234			3,944			250
Other liabilities		67			14,079			1,982			(4,436	)		(1,974	)		(7,735	)		9,651
Net cash provided by operating activities		37,892			38,737			25,681			19,832			32,020			160,261			116,270
Investing Activities
Purchases of:
Fixed maturity securities available-for-sale		(42,102	)		(146,738	)		(33,441	)		(47,848	)		(3,778	)		(136,122	)		(231,805	)
Equity securities available-for-sale		(77,847	)		(35,627	)		-			-			-			(317,340	)		(35,627	)
Other long-term investments, equity method		-			-			-			(9,123	)		(5,262	)		-			(14,385	)
Property and equipment		(6,544	)		(6,627	)		(6,719	)		(9,969	)		(9,927	)		(39,083	)		(33,242	)
Sales, maturities, and calls of:
Fixed maturity securities available-for-sale		24,949			42,161			25,803			29,527			35,337			78,353			132,828
Equity securities available-for-sale		75,696			83,989			847			-			-			309,580			84,836
Net cash (used in) provided by investing activities		(25,848	)		(62,842	)		(13,510	)		(37,413	)		16,370			(104,612	)		(97,395	)
Financing Activities
Repayment of debt		(3,260	)		(3,352	)		(3,388	)		(3,543	)		(3,503	)		(12,603	)		(13,786	)
Dividends paid		(6,874	)		(6,872	)		(6,891	)		-			(13,824	)		(13,724	)		(27,587	)
Proceeds from exercise of stock options		1,494			718			3,126			406			1,425			4,649			5,675
Excess tax benefits from stock-based compensation		-			89			24			27			14			-			154
Net cash used in financing activities		(8,640	)		(9,417	)		(7,129	)		(3,110	)		(15,888	)		(21,678	)		(35,544	)
Net increase (decrease) in cash and cash equivalents		3,404			(33,522	)		5,042			(20,691	)		32,502			33,971			(16,669	)
Cash and cash equivalents, beginning of period		65,264			68,668			35,146			40,188			19,497			34,697			68,668
Cash and cash equivalents, end of period	$	68,668		$	35,146		$	40,188		$	19,497		$	51,999		$	68,668		$	51,999

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Exhibit D

21st Century Insurance Group
Supplemental Operational Information
(Unaudited)
(Amounts in thousands, except ratios and vehicles in-force)
																12 Months Ended
																December 31,
	Q4'05			Q1'06			Q2'06			Q3'06			Q4'06			2005			2006
Direct Premiums Written
California	$	294,472		$	311,820		$	287,388		$	295,776		$	271,033		$	1,262,304		$	1,166,017
Non - California		21,994			26,749			29,449			41,441			51,451			84,066			149,090
Total direct premiums written	$	316,466		$	338,569		$	316,837		$	337,217		$	322,484		$	1,346,370		$	1,315,107
% of Direct Premiums Written
California		93.1	%		92.1	%		90.7	%		87.7	%		84.0	%		93.8	%		88.7	%
Non - California		6.9	%		7.9	%		9.3	%		12.3	%		16.0	%		6.2	%		11.3	%
Total		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Vehicles in-force
California		1,413,909			1,382,296			1,359,217			1,323,381			1,290,498			1,413,909			1,290,498
Non-California		127,001			138,257			157,386			196,613			255,121			127,001			255,121
Total Vehicles In-force at end of quarter		1,540,910			1,520,553			1,516,603			1,519,994			1,545,619			1,540,910			1,545,619
Other Information																					��
Statutory surplus	$	704,671		$	725,144		$	755,326		$	781,633		$	771,009		$	704,671		$	771,009
Ratio of net premiums written to statutory surplus		1.9			1.8			1.7			1.6			1.7			1.9			1.7
Auto renewal ratio		91	%		91	%		91	%		91	%		91	%		91	%		91	%
Reconciliation of stockholders' equity to statutory surplus
Stockholders' equity - GAAP	$	829,972		$	836,813		$	855,165		$	897,623		$	898,549		$	829,972		$	898,549
Condensed adjustments to reconcile GAAP stockholders' equity to statutory surplus:
Equity in non-insurance entities		26,798			31,728			39,558			54,827			(47,006	)		26,798			(47,006	)
Capital lease obligation		2,975			1,178			(662	)		(2,542	)		(4,467	)		2,975			(4,467	)
Net unrealized losses on investments		10,788			31,683			44,778			16,956			17,881			10,788			17,881
Deferred policy acquisition costs		(59,939	)		(62,919	)		(68,248	)		(67,592	)		(63,581	)		(59,939	)		(63,581	)
Difference in net deferred tax assetrs reported under SAP		38,544			24,137			24,438			32,641			24,200			38,544			24,200
Assets nonadmitted for statutory purposes		(144,467	)		(137,476	)		(139,703	)		(150,280	)		(54,567	)		(144,467	)		(54,567	)
Statutory surplus	$	704,671		$	725,144		$	755,326		$	781,633		$	771,009		$	704,671		$	771,009

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