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15 / 18

Less: Losses incurred

$83,495

Loss adjustment expenses Underwriting and other expenses incurred

69,329 424,667

Insurance Placement Facility of Delaware

STATEMENT OF INCOME

Net underwriting gain

Investment income

577,491

$247,004

4,092

Other income (expense): Premiums/assessments receivable charged

off Other expense

NET INCOME

Underwriting: Premiums earned

$824,495

$(1,913) (407)

(2,320)

$248,776

CAPITAL AND SURPLUS

Net income

248,776

Change in nonadmitted assets

3,211

Change in minimum pension liability

(32,623)

Surplus as regards policyholders, beginning of period

$(361,814)

Surplus as regards policyholders, December 31, 2005

$(142,450)

Losses

$195,700

$144,884

Loss adjustment

expenses

4,027

13,397

SCHEDULE OF EXAMINATION CHANGES

Account

Surplus as regards policyholders, Company reported balance

Reported Examination Balance Balance

Surplus as regards policyholders, Examination balance

11

Difference

$(183,896)

41,446

$(142,450)

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