Fourth Quarter 2007

Net Income Per Share -- $0.51

Net Operating Income Per Share -- $0.39

GAAP Combined Ratio - 105.2 percent

?

Year Ended December 31, 2007

Net Income Per Share -- $3.09

Net Operating Income Per Share -- $2.91

GAAP Combined Ratio - 97.6 percent

EMC Insurance Group Inc. (Nasdaq: EMCI - News) today reported fourth quarter operating income of $0.39 per share for the quarter ended December 31, 2007, compared to $0.78 per share for the fourth quarter of 2006¹. Operating income for the year ended December 31, 2007 was $2.91 per share, compared to $3.70 per share for the same period in 2006.

Net income, including realized investment gains/losses, was $7,058,000 ($0.51 per share) for the fourth quarter of 2007 compared to $11,494,000 ($0.84 per share) for the fourth quarter of 2006. Net income for the year ended December 31, 2007 was $42,478,000 ($3.09 per share), compared to $53,547,000 ($3.91 per share) for the same period in 2006.

?2007 was another successful year for EMC Insurance Group Inc.,? stated President and CEO Bruce G. Kelley. ?We were prepared for the competitive market conditions that we experienced during the year and we successfully executed our operating plan. Our results were negatively impacted by an increase in both large losses and catastrophe and storm losses, but we saw measurable benefits from the enhancements that we have made to our marketing and underwriting capabilities over the past several years. As a result of those enhancements, we are better prepared to respond to the challenges we face in this competitive environment.?

Premiums earned decreased 0.5 percent to $102,240,000 for the three months ended December 31, 2007 from $102,756,000 for the same period in 2006. For the year ended December 31, 2007, premiums earned increased 0.4 percent to $393,059,000 from $391,615,000 for the same period in 2006. On an overall basis, premium rate competition increased moderately in the property and casualty insurance marketplace during 2007, resulting in an approximate 4.9 percent reduction in premium rate levels. Market conditions are expected to remain competitive in 2008, which will likely result in a further reduction in premium rate levels.

Investment income increased 5.7 percent to $12,587,000 for the fourth quarter and 3.8 percent to $48,482,000 for the year ended December 31, 2007 from $11,904,000 and $46,692,000 for the same periods in 2006, primarily as a result of higher average investment balances.

The Company experienced $266,000 ($0.01 per share after tax) of adverse development on prior years? reserves during the fourth quarter of 2007 compared to $3,438,000 ($0.16 per share after tax) of favorable development in the fourth quarter of 2006. For the year ended December 31, 2007, the Company had favorable development on prior years? reserves totaling $38,738,000 ($1.83 per share after tax) compared to $41,916,000 ($1.99 per share after tax) for the same period in 2006.

?Carried loss and settlement expense reserves were in the upper quarter of the range of actuarial indications at December 31, 2007, which is similar to our position at year-end 2006,? stated President and CEO Bruce G. Kelley. ?Much of the favorable reserve development experienced during the past two years has resulted from the final settlement of closed claims, which is a historical trend for the Company. While we expect favorable reserve development to continue in the future, we anticipate the amounts will be somewhat lower than the unusually high levels experienced during the past two years.?

Catastrophe and storm losses were $2,040,000 ($0.10 per share after tax) in the fourth quarter of 2007 compared to $1,700,000 ($0.08 per share after tax) in the fourth quarter of 2006. For the year ended December 31, 2007, catastrophe and storm losses totaled $21,514,000 ($1.02 per share after tax) compared to $14,635,000 ($0.69 per share after tax) for the same period in 2006. Included in the amount for the year ended December 31, 2007 is $6,577,000 ($0.31 per share after tax) of losses associated with the Greensburg, Kansas tornado.

The Company?s GAAP combined ratio was 105.2 percent in the fourth quarter of 2007 compared to 96.3 percent in the fourth quarter of 2006. For the year ended December 31, 2007, the GAAP combined ratio was 97.6 percent compared to 92.9 percent for the same period in 2006.

At December 31, 2007, consolidated assets totaled $1.2 billion, including $1.0 billion in the investment portfolio; stockholders? equity increased 16.9 percent to $360.4 million; and net book value of the Company?s stock was $26.15 per share, an increase of 16.5 percent from $22.44 per share at December 31, 2006.

Management is projecting that 2008 operating income will be within a range of $2.10 per share to $2.35 per share. This estimate is based on a projected GAAP combined ratio of 101.8 percent and management?s expectations of continued rate competition in both the property and casualty insurance marketplace and the reinsurance marketplace.

The Company will hold an earnings teleconference call at 11:00 a.m. eastern standard time on February 28, 2008 to allow securities analysts, shareholders and other interested parties the opportunity to hear management discuss the Company?s quarterly and year-end 2007 results, as well as its expectations for 2008. Dial-in information for the call is toll-free 1-877-407-0782 (International: 1-201-689-8567). The event will be archived and available for digital replay through March 13, 2008. The replay access information is toll-free 1-877-660-6853 (International: 1-201-612-7415); passcodes required for playback: account number is 286, conference ID number is 271465.

Members of the news media, investors and the general public are invited to access a live webcast of the conference call via http://www.InvestorCalendar.com or the Company?s investor relations page at www.emcinsurance.com. The webcast will be archived and available for replay until May 28, 2008. A transcript of the teleconference will also be available on the Company?s website shortly after the completion of the teleconference.

EMC Insurance Group Inc., the publicly-held insurance holding company of EMC Insurance Companies, owns subsidiaries with operations in property and casualty insurance and reinsurance. EMC Insurance Companies is one of the largest property and casualty entities in Iowa and among the top 60 insurance entities nationwide based on premium volume. For more information, visit our website www.emcinsurance.com.

The Private Securities Litigation Reform Act of 1995 provides issuers the opportunity to make cautionary statements regarding forward-looking statements. Accordingly, any forward-looking statement contained in this report is based on management?s current beliefs, assumptions and expectations of the Company?s future performance, taking into account all information currently available to management. These beliefs, assumptions and expectations can change as the result of many possible events or factors, not all of which are known to management. If a change occurs, the Company?s business, financial condition, liquidity, results of operations, plans and objectives may vary materially from those expressed in the forward-looking statements. The risks and uncertainties that may affect the actual results of the Company include, but are not limited to the following: catastrophic events and the occurrence of significant severe weather conditions; the adequacy of loss and settlement expense reserves; state and federal legislation and regulations; changes in our industry, interest rates or the performance of financial markets and the general economy; rating agency actions and other risks and uncertainties inherent to the Company?s business. Management intends to identify forward-looking statements when using the words ?believe?, ?expect?, ?anticipate?, ?estimate?, or similar expressions. Undue reliance should not be placed on these forward-looking statements.

?The Company uses a non-GAAP financial measure called ?operating income? that management believes is useful to investors because it illustrates the performance of our normal, ongoing operations, which is important in understanding and evaluating our financial condition and results of operations. While this measure is consistent with measures utilized by investors to evaluate performance, it is not a substitute for the U.S. GAAP financial measure of net income. Therefore, the Company has provided a reconciliation of this non-GAAP financial measure to the U.S. GAAP financial measure of net income in the Consolidated Statements of Income schedule contained in this release. Management also uses non-GAAP financial measures for goal setting, determining employee and senior management awards and compensation, and evaluating performance.

CONSOLIDATED STATEMENTS OF INCOME
	?	Property and			?				?				?
		Casualty								Parent
Quarter Ended December 31, 2007	?	Insurance			?	Reinsurance			?	Company			?	Consolidated
Revenues:
Premiums earned		$	81,377,154			$	20,862,508			$	-			$	102,239,662
Investment income, net			9,382,499				3,176,583				27,931				12,587,013
Other income		?	161,875	?		?	-	?		?	-	?		?	161,875	?
		?	90,921,528	?		?	24,039,091	?		?	27,931	?		?	114,988,550	?
Losses and expenses:
Losses and settlement expenses			59,561,978				13,851,659				-				73,413,637
Dividends to policyholders			1,452,427				-				-				1,452,427
Amortization of deferred policy acquisition costs			19,268,359				4,241,430				-				23,509,789
Other underwriting expenses			8,859,438				306,398				-				9,165,836
Interest expense			193,125				84,044				-				277,169
Other expenses		?	134,147	?		?	38,572	?		?	221,172	?		?	393,891	?
		?	89,469,474	?		?	18,522,103	?		?	221,172	?		?	108,212,749	?
Operating income (loss) before income taxes		?	1,452,054	?		?	5,516,988	?		?	(193,241	)		?	6,775,801	?
Realized investment losses		?	2,271,240	?		?	220,450	?		?	-	?		?	2,491,690	?
Income (loss) before income taxes		?	3,723,294	?		?	5,737,438	?		?	(193,241	)		?	9,267,491	?
Income tax expense (benefit):
Current			(968,671	)			1,234,100				(67,634	)			197,795
Deferred		?	1,585,150	?		?	426,376	?		?	-	?		?	2,011,526	?
		?	616,479	?		?	1,660,476	?		?	(67,634	)		?	2,209,321	?
Net income (loss)		$	3,106,815	?		$	4,076,962	?		$	(125,607	)		$	7,058,170	?
Average shares outstanding															13,772,257
Per Share Data:
Net income (loss) per share - basic and diluted		$	0.22			$	0.30			$	(0.01	)		$	0.51
(Increase) decrease in provision for insured events of prior years (after tax)		$	(0.18	)		$	0.17			$	-			$	(0.01	)
Catastrophe and storm losses (after tax)		$	(0.11	)		$	0.01			$	-			$	(0.10	)
Dividends per share														$	0.18
Other Information of Interest:
Net Written Premiums		$	70,991,975			$	19,692,097			$	-			$	90,684,072
Increase (decrease) in provision for insured events of prior years		$	3,840,226			$	(3,574,577	)		$	-			$	265,649
Catastrophe and storm losses		$	2,244,945			$	(204,787	)		$	-			$	2,040,158
GAAP Combined Ratio:
Loss ratio			73.2	%			66.4	%			-				71.8	%
Expense ratio		?	36.3	%		?	21.8	%		?	-	?		?	33.4	%
		?	109.5	%		?	88.2	%		?	-	?		?	105.2	%
														?
														?
														?
		Property and
		Casualty								Parent
Quarter Ended December 31, 2006	?	Insurance			?	Reinsurance			?	Company			?	Consolidated
Revenues:
Premiums earned		$	80,985,652			$	21,770,274			$	-			$	102,755,926
Investment income, net			8,719,294				3,113,867				70,555				11,903,716
Other income		?	94,412	?		?	-	?		?	-	?		?	94,412	?
		?	89,799,358	?		?	24,884,141	?		?	70,555	?		?	114,754,054	?
Losses and expenses:
Losses and settlement expenses			49,798,628				14,284,701				-				64,083,329
Dividends to policyholders			2,046,699				-				-				2,046,699
Amortization of deferred policy acquisition costs			18,108,742				4,678,254				-				22,786,996
Other underwriting expenses			9,039,959				1,012,619				-				10,052,578
Interest expense			193,125				84,975				-				278,100
Other expenses		?	181,448	?		?	(34,852	)		?	227,788	?		?	374,384	?
		?	79,368,601	?		?	20,025,697	?		?	227,788	?		?	99,622,086	?
Operating income (loss) before income taxes		?	10,430,757	?		?	4,858,444	?		?	(157,233	)		?	15,131,968	?
Realized investment losses		?	1,093,321	?		?	147,576	?		?	-	?		?	1,240,897	?
Income (loss) before income taxes		?	11,524,078	?		?	5,006,020	?		?	(157,233	)		?	16,372,865	?
Income tax expense (benefit):
Current			905,373				1,175,422				(55,032	)			2,025,763
Deferred		?	2,636,940	?		?	215,907	?		?	-	?		?	2,852,847	?
		?	3,542,313	?		?	1,391,329	?		?	(55,032	)		?	4,878,610	?
Net income (loss)		$	7,981,765	?		$	3,614,691	?		$	(102,201	)		$	11,494,255	?
Average shares outstanding															13,732,573
Per Share Data:
Net income (loss) per share - basic and diluted		$	0.58			$	0.26			$	-			$	0.84
Decrease in provision for insured events of prior years (after tax)		$	0.02			$	0.14			$	-			$	0.16
Catastrophe and storm losses (after tax)		$	(0.08	)		$	-			$	-			$	(0.08	)
Dividends per share														$	0.17
Other Information of Interest:
Net Written Premiums		$	66,302,971			$	21,326,227			$	-			$	87,629,198
Decrease in provision for insured events of prior years		$	(416,821	)		$	(3,020,816	)		$	-			$	(3,437,637	)
Catastrophe and storm losses		$	1,633,936			$	65,754			$	-			$	1,699,690
GAAP Combined Ratio:
Loss ratio			61.5	%			65.6	%			-				62.4	%
Expense ratio		?	36.0	%		?	26.2	%		?	-	?		?	33.9	%
		?	97.5	%		?	91.8	%		?	-	?		?	96.3	%
														?
														?
														?
		Property and
		Casualty								Parent
Year ended December 31, 2007	?	Insurance			?	Reinsurance			?	Company			?	Consolidated
Revenues:
Premiums earned		$	320,836,066			$	72,223,331			$	-			$	393,059,397
Investment income, net			36,000,281				12,267,193				214,513				48,481,987
Other income		?	544,422	?		?	-	?		?	-	?		?	544,422	?
		?	357,380,769	?		?	84,490,524	?		?	214,513	?		?	442,085,806	?
Losses and expenses:
Losses and settlement expenses			199,494,325				48,344,856				-				247,839,181
Dividends to policyholders			7,632,714				-				-				7,632,714
Amortization of deferred policy acquisition costs			74,393,683				14,336,552				-				88,730,235
Other underwriting expenses			37,125,716				2,204,290				-				39,330,006
Interest expense			772,500				338,969				-				1,111,469
Other expenses		?	776,020	?		?	519,771	?		?	951,510	?		?	2,247,301	?
		?	320,194,958	?		?	65,744,438	?		?	951,510	?		?	386,890,906	?
Operating income (loss) before income taxes		?	37,185,811	?		?	18,746,086	?		?	(736,997	)		?	55,194,900	?
Realized investment gains		?	3,460,933	?		?	262,856	?		?	-	?		?	3,723,789	?
Income (loss) before income taxes		?	40,646,744	?		?	19,008,942	?		?	(736,997	)		?	58,918,689	?
Income tax expense (benefit):
Current			10,428,903				5,256,005				(257,949	)			15,426,959
Deferred		?	1,018,095	?		?	(4,400	)		?	-	?		?	1,013,695	?
		?	11,446,998	?		?	5,251,605	?		?	(257,949	)		?	16,440,654	?
Net income (loss)		$	29,199,746	?		$	13,757,337	?		$	(479,048	)		$	42,478,035	?
Average shares outstanding															13,762,663
Per Share Data:
Net income (loss) per share - basic and diluted		$	2.12			$	1.00			$	(0.03	)		$	3.09
Decrease in provision for insured events of prior years (after tax)		$	1.32			$	0.51			$	-			$	1.83
Catastrophe and storm losses (after tax)		$	(0.98	)		$	(0.04	)		$	-			$	(1.02	)
Dividends per share														$	0.69
Book value per share														$	26.15
Effective tax rate															27.9	%
Annualized net income as a percent of beg. SH equity															13.8	%
Other Information of Interest:
Net Written Premiums		$	324,252,764			$	71,002,733			$	-			$	395,255,497
Decrease in provision for insured events of prior years		$	(27,976,811	)		$	(10,761,217	)		$	-			$	(38,738,028	)
Catastrophe and storm losses		$	20,731,825			$	782,375			$	-			$	21,514,200
GAAP Combined Ratio:
Loss ratio			62.2	%			66.9	%			-				63.1	%
Expense ratio		?	37.1	%		?	22.9	%		?	-	?		?	34.5	%
		?	99.3	%		?	89.8	%		?	-	?		?	97.6	%
														?
														?
														?
		Property and
		Casualty								Parent
Year ended December 31, 2006	?	Insurance			?	Reinsurance			?	Company			?	Consolidated
Revenues:
Premiums earned		$	318,416,718			$	73,198,723			$	-			$	391,615,441
Investment income, net			34,310,739				12,116,726				264,464				46,691,929
Other income		?	526,617	?		?	-	?		?	-	?		?	526,617	?
		?	353,254,074	?		?	85,315,449	?		?	264,464	?		?	438,833,987	?
Losses and expenses:
Losses and settlement expenses			178,305,327				50,147,165				-				228,452,492
Dividends to policyholders			8,663,715				-				-				8,663,715
Amortization of deferred policy acquisition costs			71,708,560				14,856,471				-				86,565,031
Other underwriting expenses			37,337,648				2,681,846				-				40,019,494
Interest expense			772,500				339,900				-				1,112,400
Other expenses		?	1,065,324	?		?	61,055	?		?	781,383	?		?	1,907,762	?
		?	297,853,074	?		?	68,086,437	?		?	781,383	?		?	366,720,894	?
Operating income (loss) before income taxes		?	55,401,000	?		?	17,229,012	?		?	(516,919	)		?	72,113,093	?
Realized investment gains		?	4,026,538	?		?	225,751	?		?	-	?		?	4,252,289	?
Income (loss) before income taxes		?	59,427,538	?		?	17,454,763	?		?	(516,919	)		?	76,365,382	?
Income tax expense (benefit):
Current			16,907,367				4,696,561				(180,027	)			21,423,901
Deferred		?	1,446,249	?		?	(51,872	)		?	-	?		?	1,394,377	?
		?	18,353,616	?		?	4,644,689	?		?	(180,027	)		?	22,818,278	?
Net income (loss)		$	41,073,922	?		$	12,810,074	?		$	(336,892	)		$	53,547,104	?
Average shares outstanding															13,710,953
Per Share Data:
Net income (loss) per share - basic and diluted		$	3.00			$	0.93			$	(0.02	)		$	3.91
Decrease in provision for insured events of prior years (after tax)		$	1.53			$	0.46			$	-			$	1.99
Catastrophe and storm losses (after tax)		$	(0.67	)		$	(0.02	)		$	-			$	(0.69	)
Dividends per share														$	0.65
Book value per share														$	22.44
Effective tax rate															29.9	%
Annualized net income as a percent of beg. SH equity															20.5	%
Other Information of Interest:
Net Written Premiums		$	319,984,030			$	66,268,178			$	-			$	386,252,208
Decrease in provision for insured events of prior years		$	(32,255,312	)		$	(9,660,943	)		$	-			$	(41,916,255	)
Catastrophe and storm losses		$	14,312,793			$	322,080			$	-			$	14,634,873
GAAP Combined Ratio:
Loss ratio			56.0	%			68.5	%			-				58.3	%
Expense ratio		?	37.0	%		?	24.0	%		?	-	?		?	34.6	%
		?	93.0	%		?	92.5	%		?	-	?		?	92.9	%

CONSOLIDATED BALANCE SHEETS
	?	December 31,		?	December 31,
		2007			2006
ASSETS
Investments:
Fixed maturities:
Securities held-to-maturity, at amortized cost (fair value $688,728 and $5,768,918)		$	636,969		$	5,679,960
Securities available-for-sale, at fair value (amortized cost $766,462,351 and $706,273,867)			785,253,286			716,927,579
Fixed maturity securities on loan:
Securities available-for-sale, at fair value (amortized cost $58,865,232 and $89,841,454)			58,994,666			88,909,477
Equity securities available-for-sale, at fair value (cost $97,847,545 and $77,089,044)			139,427,726			112,527,480
Other long-term investments, at cost			101,988			552,202
Short-term investments, at cost		?	53,295,310		?	76,722,652
Total investments			1,037,709,945			1,001,319,350
					?
Balances resulting from related party transactions with
Employers Mutual:
Reinsurance receivables			33,272,405			37,805,569
Prepaid reinsurance premiums			4,465,836			4,807,822
Deferred policy acquisition costs			34,687,804			33,662,408
Defined benefit retirement plan, prepaid asset			11,451,758			7,836,958
Other assets			2,488,309			2,410,120
					?
Cash			262,963			196,274
Accrued investment income			11,288,005			11,363,814
Accounts receivable (net of allowance for uncollectible accounts of $0 and $0)			81,141			205,046
Income taxes recoverable			3,595,645			1,888,935
Deferred income taxes			1,682,597			12,403,141
Goodwill			941,586			941,586
Securities lending collateral		?	60,785,148		?	91,317,719
Total assets		$	1,202,713,142		$	1,206,158,742
					?
LIABILITIES
Balances resulting from related party transactions with Employers Mutual:
Losses and settlement expenses		$	551,602,006		$	548,547,982
Unearned premiums			158,156,683			155,653,799
Other policyholders' funds			8,273,187			7,320,536
Surplus notes payable			25,000,000			36,000,000
Indebtedness to related party			5,918,396			18,621,351
Employee retirement plans			10,518,351			17,700,372
Other liabilities			22,107,379			22,702,661
					?
Securities lending obligation		?	60,785,148		?	91,317,719
Total liabilities		?	842,361,150		?	897,864,420
					?
STOCKHOLDERS' EQUITY
Common stock, $1 par value, authorized 20,000,000 shares; issued and outstanding, 13,777,880 shares in 2007 and 13,741,663 shares in 2006			13,777,880			13,741,663
Additional paid-in capital			108,030,228			107,016,563
Accumulated other comprehensive income			42,961,904			24,934,903
Retained earnings		?	195,581,980		?	162,601,193
Total stockholders' equity		?	360,351,992		?	308,294,322
Total liabilities and stockholders' equity		$	1,202,713,142		$	1,206,158,742

The Company had total cash and invested assets with a carrying value of $1.0 billion as of?December 31, 2007 and?December 31, 2006.?The following table summarizes the Company's cash and invested assets as of the dates indicated:

	?	December 31, 2007
				?			?	Percent of			?
		Amortized			Fair			Total				Carrying
($ in thousands)		Cost			Value			Fair Value				Value
Fixed maturity securities held-to-maturity		$	637		$	689			0.1	%		$	637
Fixed maturity securities available-for-sale			825,328			844,248			81.4	%			844,248
Equity securities available-for-sale			97,847			139,428			13.4	%			139,428
Cash			263			263			-				263
Short-term investments			53,295			53,295			5.1	%			53,295
Other long-term investments		?	102		?	102		?	-	?		?	102
		$	977,472		$	1,038,025		?	100.0	%		$	1,037,973
												?
		December 31, 2006
								Percent of
		Amortized			Fair			Total				Carrying
($ in thousands)		Cost			Value			Fair Value				Value
Fixed maturity securities held-to-maturity		$	5,680		$	5,769			0.6	%		$	5,680
Fixed maturity securities available-for-sale			796,115			805,837			80.4	%			805,837
Equity securities available-for-sale			77,089			112,527			11.2	%			112,527
Cash			196			196			-				196
Short-term investments			76,723			76,723			7.7	%			76,723
Other long-term investments		?	552		?	552		?	0.1	%		?	552
		$	956,355		$	1,001,604		?	100.0	%		$	1,001,515
												?
The amortized cost and estimated fair value of securities held-to-maturity and available-for-sale as of December 31, 2007 are as follows:
?
		Held-to-Maturity
					Gross			Gross
		Amortized			Unrealized			Unrealized				Estimated
($ in thousands)		Cost			Gains			Losses				Fair Value
Mortgage-backed securities		$	637		$	52		$	-	?		$	689
Total securities held-to-maturity		$	637		$	52		$	-	?		$	689
												?
		Available-for-Sale
					Gross			Gross
		Amortized			Unrealized			Unrealized				Estimated
($ in thousands)		Cost			Gains			Losses				Fair Value
U.S. treasury securities		$	4,723		$	260		$	-				4,983
U.S. government-sponsored agencies			448,849			4,516			13				453,352
Obligations of states and political subdivisions			250,022			9,639			32				259,629
Mortgage-backed securities			10,241			203			13				10,431
Public utility securities			6,003			350			-				6,353
Debt securities issued by foreign governments			6,756			138			-				6,894
Corporate securities		?	98,734		?	3,948		?	76	?		?	102,606
Total fixed maturity securities		?	825,328		?	19,054		?	134	?		?	844,248
												?
Common stocks			73,847			44,407			686				117,568
Non-redeemable preferred stocks		?	24,000		?	240		?	2,380	?		?	21,860
Total equity securities		?	97,847		?	44,647		?	3,066	?		?	139,428
Total securities available-for-sale		$	923,175		$	63,701		$	3,200	?		$	983,676

NET WRITTEN PREMIUMS
	?	Three Months Ended						?	Twelve Months Ended
		December 31, 2007							December 31, 2007
				?	Percent of						?	Percent of
					Increase/							Increase/
		Percent of			(Decrease) in				Percent of			(Decrease) in
		Net Written			Net Written				Net Written			Net Written
		Premiums			Premiums				Premiums			Premiums
Property and Casualty Insurance
Commercial Lines:
Automobile		17.9	%		6.8		%		18.3	%		0.6		%
Liability		17.4	%		8.7		%		18.3	%		2.6		%
Property		14.2	%		2.1		%		15.7	%		0.3		%
Workers' Compensation		14.5	%		13.8		%		16.3	%		5.6		%
Other		2.2	%		3.6		%		2.1	%		(1.0	)	%
Total Commercial Lines		66.2	%		7.6		%		70.7	%		2.1		%
															?
Personal Lines:
Automobile		6.5	%		1.1		%		6.0	%		(3.6	)	%
Property		5.5	%		8.8		%		5.1	%		(3.1	)	%
Liability		0.1	%		9.0		%		0.2	%		3.1		%
Total Personal Lines		12.1	%		4.5		%		11.3	%		(3.3	)	%
Total Property and Casualty Insurance		78.3	%		7.1		%		82.0	%		1.3		%
															?
Reinsurance		21.7	%		(7.7	)	%		18.0	%		1.9		%	(1	)
Total		100.0	%		3.5		%		100.0	%		1.4		%	(1	)

(1) Excludes $3,440,024 negative portfolio adjustment related to the January 1, 2006 reduced participation in the MRB pool.