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valign=bottom style='width:327.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=437 height=18 id="_x0000_i1028" src="images/2009-12-01.gif"><o:p></o:p></span></p> </td> </tr> </table> </div> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"; display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=690 style='width:517.5pt;mso-cellspacing:0in;background:white;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=690 colspan=5 valign=top style='width:517.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><a href="http://email.openmoves.com/link.php?M=5844193&amp;N=4&amp;uid=1170&amp;L=10&amp;F=H"><span style='text-decoration:none;text-underline:none'><img border=0 width=690 height=89 id="_x0000_i1029" src="images/bartlett-banner.jpg" alt="Bartlett Actuarial Group"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=690 colspan=5 valign=top style='width:517.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=690 style='width:517.5pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 0in 0in 0in;background-color:rgb(255, 255,&#13;&#10;205)'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=690 colspan=15 valign=top style='width:517.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=4 id="_x0000_i1030" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=13 valign=top style='width:9.75pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1031" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=80 valign=top style='width:60.0pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="#StoryOne" style='color:rgb(79, 77,&#13;&#10;64)'><span style='font-size:7.5pt;font-family:"Verdana","sans-serif";color:#4F4D40; text-decoration:none;text-underline:none'>Insights</span></a><o:p></o:p></span></p> </td> <td width=15 valign=top style='width:11.25pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=15 height=1 id="_x0000_i1032" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=130 valign=top style='width:97.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="#StoryTwo" style='color:rgb(79, 77,&#13;&#10;64)'><span style='font-size:7.5pt;font-family:"Verdana","sans-serif";color:#4F4D40; text-decoration:none;text-underline:none'>Actuarial Challenge</span></a><o:p></o:p></span></p> </td> <td width=15 valign=top style='width:11.25pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=15 height=1 id="_x0000_i1033" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=90 valign=top style='width:67.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="#StoryThree" style='color:rgb(79, 77,&#13;&#10;64)'><span style='font-size:7.5pt;font-family:"Verdana","sans-serif";color:#4F4D40; text-decoration:none;text-underline:none'>Today s Tip</span></a><o:p></o:p></span></p> </td> <td width=15 valign=top style='width:11.25pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=15 height=1 id="_x0000_i1034" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=80 valign=top style='width:60.0pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="#StoryFour" style='color:rgb(79, 77,&#13;&#10;64)'><span style='font-size:7.5pt;font-family:"Verdana","sans-serif";color:#4F4D40; text-decoration:none;text-underline:none'>About Us</span></a><o:p></o:p></span></p> </td> <td width=15 valign=top style='width:11.25pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=15 height=1 id="_x0000_i1035" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=70 valign=top style='width:52.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="#StoryFive" style='color:rgb(79, 77,&#13;&#10;64)'><span style='font-size:7.5pt;font-family:"Verdana","sans-serif";color:#4F4D40; text-decoration:none;text-underline:none'>News</span></a><o:p></o:p></span></p> </td> <td width=15 valign=top style='width:11.25pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=15 height=1 id="_x0000_i1036" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=60 valign=top style='width:45.0pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="#StorySix" style='color:rgb(79, 77,&#13;&#10;64)'><span style='font-size:7.5pt;font-family:"Verdana","sans-serif";color:#4F4D40; text-decoration:none;text-underline:none'>Events</span></a><o:p></o:p></span></p> </td> <td width=15 valign=top style='width:11.25pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=15 height=1 id="_x0000_i1037" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=59 valign=top style='width:44.25pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal align=right style='text-align:right'><span style='mso-fareast-font-family:"Times New Roman"'><a href="#StorySeven" style='color:rgb(79, 77,&#13;&#10;64)'><span style='font-size:7.5pt; font-family:"Verdana","sans-serif";color:#4F4D40;text-decoration:none; text-underline:none'>Services</span></a><o:p></o:p></span></p> </td> <td width=18 valign=top style='width:13.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=18 height=1 id="_x0000_i1038" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=690 colspan=15 valign=top style='width:517.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=5 id="_x0000_i1039" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3;mso-yfti-lastrow:yes'> <td width=690 colspan=15 valign=top style='width:517.5pt;background:#FFFFCD; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=690 height=6 id="_x0000_i1040" src="images/bartlett-gradient.gif"><o:p></o:p></span></p> </td> </tr> </table> </div> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=15 valign=top style='width:11.25pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=15 height=1 id="_x0000_i1041" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=396 style='width:297.0pt;mso-cellspacing:0in;background:white;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=22 id="_x0000_i1042" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><a name=StoryOne id=StoryOne></a><span style='mso-fareast-font-family: "Times New Roman";display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=396 style='width:297.0pt;mso-cellspacing:0in;background:white;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=396 height=23 id="_x0000_i1043" src="images/2009-12-02.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=13 id="_x0000_i1044" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='line-height:13.5pt'><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman";color:black'>Captive Runoff, History, Outlook, and Perspective</span></strong><span style='font-size:10.0pt;font-family: "Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; color:black'><br> By James A. Hall, FCAS, MAAA, FCA<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=17 id="_x0000_i1045" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='line-height:13.5pt'><!--[if gte vml 1]><v:shapetype id="_x0000_t75" coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f"> <v:stroke joinstyle="miter"/> <v:formulas> <v:f eqn="if lineDrawn pixelLineWidth 0"/> <v:f eqn="sum @0 1 0"/> <v:f eqn="sum 0 0 @1"/> <v:f eqn="prod @2 1 2"/> <v:f eqn="prod @3 21600 pixelWidth"/> <v:f eqn="prod @3 21600 pixelHeight"/> <v:f eqn="sum @0 0 1"/> <v:f eqn="prod @6 1 2"/> <v:f eqn="prod @7 21600 pixelWidth"/> <v:f eqn="sum @8 21600 0"/> <v:f eqn="prod @7 21600 pixelHeight"/> <v:f eqn="sum @10 21600 0"/> </v:formulas> <v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect"/> <o:lock v:ext="edit" aspectratio="t"/> </v:shapetype><v:shape id="_x0000_s1026" type="#_x0000_t75" alt="" style='position:absolute;margin-left:0;margin-top:0;width:81pt;height:90pt; z-index:251658240;mso-wrap-distance-left:0;mso-wrap-distance-top:0; mso-wrap-distance-right:0;mso-wrap-distance-bottom:0; mso-position-horizontal:left;mso-position-horizontal-relative:text; mso-position-vertical-relative:line' o:allowoverlap="f"> <v:imagedata src="images/bartlett-2009-10-04.jpg"/> <w:wrap type="square"/> </v:shape><![endif]--><![if !vml]><img width=108 height=120 src="images/bartlett-2009-10-04.jpg" align=left border=0 v:shapes="_x0000_s1026"><![endif]><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman";color:black'>For-profit insurers and reinsurers have occasionally needed to back away from a niche in which they have not been successful. Over the years, there have been failures of insurers and reinsurers which inevitably result in run-off, whether called liquidation, receivership, a  scheme of arrangement, or some other label. Somewhat less disastrous than a failure is the fire sale, in which new capital is provided to bear risk in the company, at the expense of the previous owners, who lose some or all of their ownership interest. (Think of AIG shareholders capital being replaced by new capital from the U. S. Treasury, or think of Bear Stearns shareholders' capital being replaced by new capital from JP Morgan Chase, plus certain guarantees from the Treasury.)<br> <br> Single-parent captives and group captives have their own distinct reasons for going into runoff. Over the course of several underwriting cycles, certain single-parent captives discovered losses suffered from competing in the assumed reinsurance business were far greater than the tax benefits expected from writing unrelated business, and their parents decided to support their captives through a long and expensive runoff, often to protect the reputation of the parent via honorable satisfaction of the obligations of its subsidiary.<br> <br> During recent soft markets, several group captives (among others, certain RRG s) lost members to commercial insurers and decided to cease underwriting operations, and go into runoff. Also, in recent soft markets, single-parent captives already licensed and capitalized, have sometimes been left un-used by their parents, and are de facto in runoff. Further, following a number of mergers at the parent level, the number of single-parent captives left in run-off by their newly-merged parents has added to the total number of runoffs in the captive sector. At least one captive has been moved and then placed in runoff by its parent taking advantage of favorable law and precedent, leading to some controversy over the propriety of the move.<br> <br> In 2002, Rhode Island enacted public law 381, allowing solvent insurers to restructure (and to redomicile to that state) for the purpose of runoff. As of 2009 to date no insurers have moved under this law; reasons suggested for the lack of action include uncertainty about how regulation will develop around the new law, uncertainty about how courts will treat claims involving a redomesticated insurer, or possibly concern that controversy over another redomestication and runoff could create reputational risk.<br> <br> Could this be a growth area for captive domiciles?<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=24 id="_x0000_i1046" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="http://email.openmoves.com/link.php?M=5844193&amp;N=4&amp;uid=1170&amp;L=1&amp;F=H"><span style='text-decoration:none;text-underline:none'><img border=0 width=155 height=27 id="_x0000_i1047" src="images/bartlett-2009-10-02.jpg"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:7;mso-yfti-lastrow:yes'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=28 id="_x0000_i1048" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><a name=StoryTwo id=StoryTwo></a><span style='mso-fareast-font-family: "Times New Roman";display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=396 style='width:297.0pt;mso-cellspacing:0in;background:white;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=396 height=22 id="_x0000_i1049" src="images/bartlett-2009-10-02.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=13 id="_x0000_i1050" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='line-height:13.5pt'><span style='font-size: 10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; color:black'>Example taken from <strong><span style='font-family:"Arial","sans-serif"'>The Drunkard s Walk</span></strong>, <em><span style='font-family:"Arial","sans-serif"'>How Randomness Rules our Lives</span></em>, Leonard Mlodinow, Vintage Books, Page 43<br> <br> Actuaries are trained in mathematics, statistics and logic. The following challenge demonstrates the problem solving process that actuaries engage when doing forecasting. The TV Show Let s Make a Deal mimics this logic problem taken from <strong><span style='font-family:"Arial","sans-serif"'>The Drunkards Walk</span></strong>.<br> <br> <strong><span style='font-family:"Arial","sans-serif"'>Let s Make a Deal</span></strong>.<br> Suppose the contestants on a game show are given the choice of three doors. Behind one door is a car; behind the others, goats. After a contestant picks a door, the host, who knows what s behind all the doors, opens one of the unchosen doors, which reveals a goat. He then says to the contestant,  Do you want to switch to the other unopened door? Is it to the contestant s advantage to make the switch?<br> <br> Click on the link below to our website where Julie Ekdom, ACAS, MAAA has crafted the answer to this age old logic problem.<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=24 id="_x0000_i1051" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="http://email.openmoves.com/link.php?M=5844193&amp;N=4&amp;uid=1170&amp;L=2&amp;F=H"><span style='text-decoration:none;text-underline:none'><img border=0 width=155 height=27 id="_x0000_i1052" src="images/bartlett-2009-10-01.jpg"></span></a><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5;mso-yfti-lastrow:yes'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=28 id="_x0000_i1053" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><a name=StoryThree id=StoryThree></a><span style='mso-fareast-font-family:"Times New Roman";display:none;mso-hide: all'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=396 style='width:297.0pt;mso-cellspacing:0in;background:white;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=396 height=22 id="_x0000_i1054" src="images/2009-12-03.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=13 id="_x0000_i1055" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='line-height:13.5pt'><span style='font-size: 10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"; color:black'>Data quality is essential to the success of an insurance company. Be sure to keep accurate records of premiums and exposures by policy and coverage in addition to detailed claim records.<o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3;mso-yfti-lastrow:yes'> <td width=396 valign=top style='width:297.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=24 id="_x0000_i1056" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> </td> <td width=31 valign=top style='width:23.25pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=31 height=1 id="_x0000_i1057" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=234 valign=top style='width:175.5pt;padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=234 style='width:175.5pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=234 valign=top style='width:175.5pt;background:white; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=13 id="_x0000_i1058" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"; display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height:.75pt'> <td colspan=3 valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in; height:.75pt'> <p class=MsoNormal style='mso-line-height-alt:.75pt'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1059" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1060" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td valign=top style='padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=232 style='width:174.0pt;mso-cellspacing:0in;background:#E5E5E5; mso-yfti-tbllook:1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><a name=StoryFive id=StoryFive></a><span style='mso-fareast-font-family: "Times New Roman"'><img border=0 width=232 height=43 id="_x0000_i1061" src="images/bartlett-2009-10-04.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=10 id="_x0000_i1062" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1063" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=206 valign=top style='width:154.5pt;padding:0in 0in 0in 0in; color:rgb(19, 19,&#13;&#10;19)'> <p class=MsoNormal style='line-height:12.75pt'><span style='font-size: 10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Bartlett Actuarial Group, Ltd. is pleased to announce that James A. Hall III, FCAS, MAAA, FCA is joining our practice as our resident actuary in Burlington, Vermont.<o:p></o:p></span></p> </td> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=right style='text-align:right'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1064" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=10 id="_x0000_i1065" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1066" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=206 valign=top style='width:154.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=204 height=170 id="_x0000_i1067" src="images/bartlett-2009-10-05.jpg"><o:p></o:p></span></p> </td> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=right style='text-align:right'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1068" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=10 id="_x0000_i1069" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6'> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1070" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=206 valign=top style='width:154.5pt;padding:0in 0in 0in 0in; color:rgb(19, 19,&#13;&#10;19)'> <p class=MsoNormal style='line-height:12.75pt'><span style='font-size: 10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Jim Hall is the founder and former managing partner of the US casualty actuarial practice for the former Coopers &amp; Lybrand. In addition to Jim s extensive experience with captive formation and operations in several domiciles, Jim s success in managing the growth of the Coopers practice includes significant <strong><span style='font-family:"Arial","sans-serif"'>mergers and acquisitions innovation</span></strong> that aided several major insurance company acquisitions, and <strong><span style='font-family: "Arial","sans-serif"'>expert testimony</span></strong> central to resolution of important insurance disputes. Please join us in welcoming Jim to our practice. Email: <a href="mailto:jhall@bartlettactuarialgroup.com"><span style='color:#14618F'>jhall@bartlettactuarialgroup.com</span></a><o:p></o:p></span></p> </td> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=right style='text-align:right'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1071" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:7;mso-yfti-lastrow:yes'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=18 id="_x0000_i1072" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> </td> <td valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1073" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2;mso-yfti-lastrow:yes;height:.75pt'> <td colspan=3 valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in; height:.75pt'> <p class=MsoNormal style='mso-line-height-alt:.75pt'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1074" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> </div> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"; display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=234 style='width:175.5pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=234 valign=top style='width:175.5pt;background:white; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=14 id="_x0000_i1075" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"; display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height:.75pt'> <td colspan=3 valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in; height:.75pt'> <p class=MsoNormal style='mso-line-height-alt:.75pt'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1076" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1077" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td valign=top style='padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=232 style='width:174.0pt;mso-cellspacing:0in;background:#E5E5E5; mso-yfti-tbllook:1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><a name=StorySix id=StorySix></a><span style='mso-fareast-font-family: "Times New Roman"'><img border=0 width=232 height=43 id="_x0000_i1078" src="images/bartlett-2009-10-05.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=10 id="_x0000_i1079" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1080" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=206 valign=top style='width:154.5pt;padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=198 style='width:148.5pt;mso-cellspacing:0in;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-row-margin-right: 1.0in'> <td width=198 colspan=2 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='line-height:12.75pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman";color:#303030'>Bartlett Actuarial Group will be in attendance at the following events during 2010. If you are attending and would like to meet, please give us a call.<o:p></o:p></span></p> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=96 colspan=3><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:1'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=14 id="_x0000_i1081" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1082" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>CICA  Orlando, FL, March 7 - 9, 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:3'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1083" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1084" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>AzCIA &amp; UCIA  Phoenix, AZ, April 5 - 8, 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:5'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1085" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:6'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1086" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>RIMS  Boston, MA, April 25 - 29, 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:7'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1087" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:8'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1088" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>MCIA  Whitefish, MT, July 19 - 21, 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:9'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1089" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:10'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1090" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>SCCIA  Charleston, SC, September 13 - 15, 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:11'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1091" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:12'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1092" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>VCIA  Burlington, VT, August 10 - 12, 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:13'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1093" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:14'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1094" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>CIC-DC  Washington, DC, September 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:15'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1095" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:16'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1096" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>NCIA  Las Vegas, NV, October 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:17'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1097" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:18'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1098" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>KCIA  Churchill Downs, KY, November 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:19'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1099" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:20'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1100" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>Cayman  Grand Cayman, November 30 - December 2, 2010<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:21'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1101" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:22;mso-yfti-lastrow:yes'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1102" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='font-size:8.5pt;font-family:"Arial","sans-serif"; mso-fareast-font-family:"Times New Roman";color:#303030'>DCIA  Wilmington, DE- Dates TBD<o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> </table> </td> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=right style='text-align:right'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1103" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3;mso-yfti-lastrow:yes'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=18 id="_x0000_i1104" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> </td> <td valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1105" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2;mso-yfti-lastrow:yes;height:.75pt'> <td colspan=3 valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in; height:.75pt'> <p class=MsoNormal style='mso-line-height-alt:.75pt'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1106" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> </div> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"; display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=234 style='width:175.5pt;mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt: 0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow:yes'> <td width=234 valign=top style='width:175.5pt;background:white; padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=14 id="_x0000_i1107" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> </table> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"; display:none;mso-hide:all'><o:p>&nbsp;</o:p></span></p> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='mso-cellspacing:0in;mso-yfti-tbllook:1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height:.75pt'> <td colspan=3 valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in; height:.75pt'> <p class=MsoNormal style='mso-line-height-alt:.75pt'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1108" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='background:#BFBFBF;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1109" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td valign=top style='padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=232 style='width:174.0pt;mso-cellspacing:0in;background:#E5E5E5; mso-yfti-tbllook:1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><a name=StorySeven id=StorySeven></a><span style='mso-fareast-font-family: "Times New Roman"'><img border=0 width=232 height=43 id="_x0000_i1110" src="images/bartlett-2009-10-06.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=232 colspan=3 valign=top style='width:174.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=10 id="_x0000_i1111" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=13 valign=top style='width:9.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=13 height=1 id="_x0000_i1112" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=206 valign=top style='width:154.5pt;padding:0in 0in 0in 0in'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=198 style='width:148.5pt;mso-cellspacing:0in;mso-yfti-tbllook: 1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-row-margin-right: 1.0in'> <td width=198 colspan=2 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal style='line-height:12.75pt'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman";color:#303030'>Our services include:<o:p></o:p></span></p> </td> <td style='mso-cell-special:placeholder;border:none;padding:0in 0in 0in 0in' width=96 colspan=3><p class='MsoNormal'>&nbsp;</td> </tr> <tr style='mso-yfti-irow:1'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=18 id="_x0000_i1113" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1114" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="http://email.openmoves.com/link.php?M=5844193&amp;N=4&amp;uid=1170&amp;L=3&amp;F=H"><span style='font-size:8.5pt;font-family:"Arial","sans-serif";color:#2C7898'>Captive program formation</span></a><o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:3'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=4 id="_x0000_i1115" 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href="http://email.openmoves.com/link.php?M=5844193&amp;N=4&amp;uid=1170&amp;L=5&amp;F=H"><span style='font-size:8.5pt;font-family:"Arial","sans-serif";color:#2C7898'>Mergers and acquisitions analyses</span></a><o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:11'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=4 id="_x0000_i1123" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:12'> <td width=16 valign=top style='width:12.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1124" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td 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style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=16 height=11 id="_x0000_i1126" src="images/bartlett-bullet.gif"><o:p></o:p></span></p> </td> <td width=182 valign=top style='width:136.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><a href="http://email.openmoves.com/link.php?M=5844193&amp;N=4&amp;uid=1170&amp;L=7&amp;F=H"><span style='font-size:8.5pt;font-family:"Arial","sans-serif";color:#2C7898'>Rate filing support services</span></a><o:p></o:p></span></p> </td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> <td style='padding:0in 0in 0in 0in'></td> </tr> <tr style='mso-yfti-irow:15'> <td width=198 colspan=5 valign=top style='width:148.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=4 id="_x0000_i1127" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr 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id="_x0000_i1134" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='background:#B8BC8A;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1135" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td valign=top style='padding:0in 0in 0in 0in'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=686 style='width:514.5pt;mso-cellspacing:0in;background:#FFFFCD; mso-yfti-tbllook:1184;mso-padding-alt:0in 0in 0in 0in'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width=686 colspan=9 valign=top style='width:514.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal align=center style='text-align:center'><a name=StoryFour id=StoryFour></a><span style='mso-fareast-font-family: "Times New Roman"'><img border=0 width=686 height=35 id="_x0000_i1136" src="images/bartlett-2009-10-07.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width=686 colspan=9 valign=top style='width:514.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1137" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td width=27 valign=top style='width:20.25pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=27 height=1 id="_x0000_i1138" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=632 colspan=7 valign=top style='width:474.0pt;padding:0in 0in 0in 0in; color:rgb(79, 77,&#13;&#10;64)'> <p class=MsoNormal style='line-height:14.25pt'><span style='font-size: 10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'>Bartlett Actuarial Group, Ltd. is an independent property and casualty actuarial and risk management consulting firm offering services to a nationwide 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We develop the mathematical models and analytical tools that help our valued clients quantify, evaluate, and manage the costs associated with their insurance and risk management.<o:p></o:p></span></p> </td> <td width=27 valign=top style='width:20.25pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=27 height=1 id="_x0000_i1139" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:3'> <td width=686 colspan=9 valign=top style='width:514.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1140" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:4'> <td width=27 valign=top style='width:20.25pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=27 height=1 id="_x0000_i1141" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=9 valign=top style='width:6.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=9 height=1 id="_x0000_i1142" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=163 valign=top style='width:122.25pt;padding:0in 0in 0in 0in; color:rgb(79, 77,&#13;&#10;64)'> <p class=MsoNormal style='line-height:14.25pt'><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>South Carolina</span></strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'><br> 145 King Street, Ste 203<br> Charleston, SC 29401<br> 843-377-0993<o:p></o:p></span></p> </td> <td width=80 valign=top style='width:60.0pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=80 height=1 id="_x0000_i1143" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=138 valign=top style='width:103.5pt;padding:0in 0in 0in 0in; color:rgb(79, 77,&#13;&#10;64)'> <p class=MsoNormal style='line-height:14.25pt'><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Vermont</span></strong><span style='font-size:10.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><br> 289 College Street<br> Burlington, VT 05401<br> 802-861-3072<o:p></o:p></span></p> </td> <td width=95 valign=top style='width:71.25pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=95 height=1 id="_x0000_i1144" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=138 valign=top style='width:103.5pt;padding:0in 0in 0in 0in; color:rgb(79, 77,&#13;&#10;64)'> <p class=MsoNormal style='line-height:14.25pt'><strong><span style='font-size:10.0pt;font-family:"Arial","sans-serif";mso-fareast-font-family: "Times New Roman"'>Arizona</span></strong><span style='font-size:10.0pt; font-family:"Arial","sans-serif";mso-fareast-font-family:"Times New Roman"'><br> PO Box 15127<br> Phoenix, AZ 85018<br> 602-956-3293<o:p></o:p></span></p> </td> <td width=9 valign=top style='width:6.75pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=9 height=1 id="_x0000_i1145" src="images/spcr.gif"><o:p></o:p></span></p> </td> <td width=27 valign=top style='width:20.25pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=27 height=1 id="_x0000_i1146" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:5;mso-yfti-lastrow:yes'> <td width=686 colspan=9 valign=top style='width:514.5pt;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=12 id="_x0000_i1147" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <![if !supportMisalignedColumns]> <tr height=0> <td width=27 style='border:none'></td> <td width=9 style='border:none'></td> <td width=163 style='border:none'></td> <td width=80 style='border:none'></td> <td width=138 style='border:none'></td> <td width=95 style='border:none'></td> <td width=138 style='border:none'></td> <td width=9 style='border:none'></td> <td width=27 style='border:none'></td> </tr> <![endif]> </table> </div> </td> <td valign=top style='background:#B8BC8A;padding:0in 0in 0in 0in'> <p class=MsoNormal><span style='mso-fareast-font-family:"Times New Roman"'><img border=0 width=1 height=1 id="_x0000_i1148" src="images/spcr.gif"><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:2;mso-yfti-lastrow:yes;height:.75pt'> <td colspan=3 valign=top style='background:#B8BC8A;padding:0in 0in 0in 0in; 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