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d1.~4. -{9' OI Iti10~1 IU 2~ L.aWOFFICES <br />STATEMENT OF ACTUARIAL OPINION <br />Annual Statement of the Frontier Insurance Company <br />For the Year Ended December 31, 2000 <br />Page 1 of 5 <br />IDENTIFICATION <br />P.UU3 <br />I, Ollie L. Sherman, Jr., am associated with Tillinghast -Towers Perrin. I am a <br />member of the American Academy of Actuaries and meet its qualification standards <br />for signing statements of actuarial opinion regarding property and casualty insurance <br />company statutory Annual Statements. I am a Fellow of the Casualty Actuarial <br />Society. I was appointed by the Board of Directors of the Frontier Insurance <br />Company (FIC or the Company) on July 1, 2000 to render this opinion. <br />SCOPE <br />I have examined the reserves listed below, as shown in the Annual Statement of FIC, <br />as prepared for filing with state regulatory officials as of December 31, 2000. <br /> Amount <br />A. Reserve for Unpaid Losses 8494,483,064 <br />(Page 3, Line 1} <br />B. Reserve for Unpaid Loss Adjustment Expenses $210,D90,804 <br />(Page 3, Line 2) <br />Tota I 5704,573,868 <br />C. Reserve for Unpaid Losses -Direct and Assumed $831,585,000 <br />(Schedule P, Part 1, Columns 13 and 15) <br />D, Reserve for Unpaid Loss Adjustment Expenses - $291,633,000 <br />Direct and Assumed <br />(Schedule P, Part 1, Columns 17, 19, and 21} <br />E. The Extended Loss and Expense Reserve (Schedule P S 1,450,000 <br />Interrogatories) <br />The above items reflect, as appropriate: <br />^ Anticipated salvage and subrogation included as a reduction to loss reserves as <br />reported in Schedule P -Analysis of Losses and Loss Expenses, Underwriting and <br />Investment Exhibit -Part 3A, and on Page 3 -Liabilities, Surplus and Other Funds, <br />Line 1; $818,000; <br />Tr!linghast - <br />Towcrsl~rrin <br />