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<br />ZURICH AMERICAN INSURANCE COMPANY
<br />COMPARATIVE BALANCE SHEET
<br />ONE LIBERTY PLAZA, 165 BROADWAY, 32nd FLOOR, NEW YORK, 1\'Y 10006
<br />As or December 31, 2007
<br />
<br /> 12/31/2007 12131/2006
<br />Auell
<br />Bonds $19,087.378.076 )18,073,352,872
<br />Preferred Stock 133.381,994
<br />Common Stock 2,809,606,857 2,849,618,678
<br />Real Em.le 28,007,629 30,557,423
<br />Othc:- Invested AsS<:ts 540,121.817 299,554,188
<br />Short-term IrM:stments 163,510,422 304,091,911
<br />Cash 1,391,371,897 2,530,185,882
<br />Employ:.: Trust for Deferred Compensation Plan 90,692,030 80,328.263
<br />Total Cash and Invested Assets 24,244,070,722 24,167,689,217
<br />Premiums Rl=ivablc 5,073,765,258 4,4ll0,227,698
<br />Funds Held with Reinsurer;; 17,702,845 17,616,017
<br />Rcinsunmce Recovemble 680,285,692 1,213,858,365
<br />Accrued Inveslm:nt Jncome J 59,844,556 155,518,130
<br />Federa.1lncome Tax Recoverable 603,657,275 546,748,319
<br />Due from Affiliates 181,822,075 174,161,797
<br />Ollie:' Assets 846,868.830 757,598,5&2
<br />Total Assets 31.808,017.253 31,513,418.125
<br />LiAbilfties and Pollcvbolde..... gDrplm
<br />liabilities:
<br />Loss and LAE ~ 14,426,948,909 14,149,869,727
<br />Loss Portfolio Traru:fCI' (9,811,239)
<br />Unearned Premium Reserve 5,032,276.309 4,622,977,469
<br />Funds Held with Reinsurers 252,617,358 250,851,3&3
<br />Loss In Course orPa)n1ent 643,699,182 394,524,981
<br />Commission Reserve 154,237,25& 119.963,062
<br />Federallncocne Tax Payable 24,209,808 35,410,569
<br />Remittaoces and I=s UTUlIoc.e.t.cd 212.916,937 243.556.654
<br />Payable to parent. subs lUId affiliats 229.548,310 329,287,394
<br />Provision for Reinsurance 112,368,418 1l9.083,992
<br />Ceded Reins= Premiwns Payable 522,715.017 957,965,095
<br />Securities Lending Collateral Uabnity 1,229,669,401 2,096.100,376
<br />Other Liabnities 2.222,098,055 2,166.&42,890
<br />Total liabilities 25,063,304,962 25.476,622,353
<br />PoUC)holdm' Surplus:
<br />Common Capital Stock 5,000,000 5,000,000
<br />Paid-ln and Contributed Surplus 4,394,131,141 4,394.131,141
<br />Surplus Notes 1,883,000.000 2,014,300,000
<br />Special Surplus Retroactive R.c:insurance 55,614.000 &0,956,000
<br />Cumulative UnreaH~ed Gain 11~,44I,1 00 575,279,074
<br />Dividends UndCl:lared 268,045 450,941
<br />Loss Portfolio TI'1MfCI' AccIlWlt 9.811,239
<br />Unassigned Surplus 278.258.005 (1,043.132,623)
<br />Twl Polic:yholders' Surplus 6,744,712.,291 6.036,795,772
<br />Total liabiliti:s and Policyholders' Surplus 31.808.017.253 31.513.418.125
<br />
<br />I, DAVID A. BOWERs, Corporate S=wy of ZURlCH AMERJCAN INSURANCE COMPANY do hC1'eby certify
<br />that the roregoing staltment is a correct exbibit of the ass:t3 and liabilities of the said Co ny. on the
<br />31st day of December, 2007, llCl:ording to the best ormy informatio,. go and belie
<br />
<br />SlJ.~ efllline;s
<br />
<br />County of Cook
<br />
<br />
<br />orporale SC=Ulry
<br />
<br />} 55:
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<br />
<br />MARLO G. SARABYN
<br />v.'t' COMMISSION EXPIRES
<br />NO\'=M8ER 25. 2011
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