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Message from the President

United Heritage Property & Casualty and its predecessors, Canyon County Farmers Mutual and Idaho Mutual Insurance Company, began operations on April 20, 1908. The first board meeting was held in a packing house near Roswell, Idaho. By the second meeting, the Company had built its surplus to $21.92.

In July, 1992, the Company converted from a county mutual to a domestic mutual offering property and casualty insurance in all areas of Idaho — becoming Idaho Mutual Insurance Company. In November, 2000, the Company demutualized and became United Heritage Property & Casualty.

United Heritage Property & Casualty has paid $77,526,915 in claims payments since 1908. We are extremely pleased with the 2009 financials which were a great comeback from the dismal 2008 results. In 2009, the weather related losses dropped, our investment portfolio began a turnaround, and with the introduction of auto to our product line, the "packaged" concept has proven to bolster overall sales and persistency.

United Heritage offers a wide range of quality financial and insurance products: life insurance and annuities from United Heritage Life Insurance Company and auto, homeowners, farmowners and small business coverages from United Heritage Property & Casualty Company. We invite you to look at our web site at unitedheritage.com for the latest product offerings.

We look forward to a promising future. Thank you to our competent staff, officers, and directors who are dedicated to making the Company of greater service to its policyholders and 181 agencies.

Brian E. Henman, President & CEO

United Heritage Property & Casualty

For the year ending December

31, 2009

Policies in force, January 1, 2009 .......................... Policies in force, December 31, 2009 ....................

...................... 24,986 ...................... 26,801

Cash on hand and in bank ............................... Bonds and Stocks ............................................ Mortgage Loans on Real Estate....................... Other Assets ......................................................

................. $ 118,506 ............ $ 16,357,460 .............. $ 2,138,142 .............. $ 3,373,846

TOTAL ASSETS ...................................................... Less Liabilities ................................................... SURPLUS................................................................

............ $ 21,987,954 ............ $ 12,354,659 .............. $ 9,633,295

Financial results are subject to final audit.

Business Mix by Policy Count as of 12/31/2009

Home & Family (25%) 6546 policies

Business Insurance (4%) 1033 policies

Auto (1%) 375 policies

Plus Homeowner (37%) 9962 policies

Mobile Home (3%) 723 policies

Farmowner (8%) 2145 policies

Condo, Tenant & Landlord (7%) 1899 policies

Homeowner (15%) 4118 policies

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