For the Year ended December 31, 2008
Class of Insurer No. of Co.s Gross Premiums Net Premiums Total Assets Capital and Surplus
Class 1 309 $3.277 billion $2.135 billion $15.603 billion $10.135 billion
Class 2 322 $7.858 billion $6.431 billion $38.518 billion $15.134 billion
Class 3 343 $18.358 billion $15.913 billion $69.875 billion $24.28 billion
Class 3A 124 $15.461 billion $11.468 billion $54,159,037,491 $13.871 billion
Class 3B 19 $13.262 billion $9.676 billion $39.172 billion $14.813 billion
Class 4 37 $33.621 billion $30.557 billion $143.575 billion $58.656 billion
Long-Term 86 $31.727 billion $31.727 billion $112.064 billion $19.922 billion
Totals: 1,240 $123.564 billion $107.906 billion $472.967 billion $156.811 billion
* Class 3 sector reclassification took effect as of 2008-Q3. Therefore, data reported from that date will reflect the reclassified
Class 3 company categories.
Class 1 - Single-parent captive insuring the risks of its owners or affiliates of the owners.
Class 2 - (a) a multi-owner captive insuring the risks of its owners or affiliates of the owners; or (b) a single parent or multi-owner captive: (i) insuring the risks arising out of the business or operations of the owners or affiliates, and/or (ii) deriving up to 20 percent of its net premiums from unrelated risks.
Class 3 - Captive insurers underwriting more than 20 percent and less than 50 percent unrelated business.
Class 3A - Small commercial insurers whose percentage of unrelated business represents 50 percent or more of net premiums written or loss and loss expense provisions and where the unrelated business net premiums are less than$50 million.
Class 3B - Large commercial insurers whose percentage of unrelated business represents 50 percent or more of net premiums written or loss and loss expense provisions and where the unrelated business net premiums are more than $50 million.
Class 4 - Insurers and reinsurers capitalised at a minimum of $100 million underwriting direct excess liability and/or property catastrophe reinsurance risk.
Long-Term - Insurers writing long-term (or life) business.