august 27, 2003

status of insolvencies as at June 30, 2003

ADVOCATE GENERAL

Closed Files : 3,799 (Sub Files)

Paid Claims : $44,037,846

O/S Files : 0 0/S Sub Files

O/S Reserves : $0

Remarks : Final dividend now received. We have made a full recovery.
All claims are now closed.

ONTARIO GENERAL

Closed Files : 35

Paid Claims : $594,210

O/S Files : 3

O/S Reserves : $130,000

Remarks : The Liquidator will not wind up the Estate until the limitation
period for all claims has expired.

AMERICAN MUTUAL

Closed Files : 2

Paid Claims : $66,475

O/S Files : None

O/S Reserves : None

Remarks : This liquidation is now wound up and we have received 100% recovery of all the amounts paid out on behalf of this Insurer.

CANADIAN UNIVERSAL

Closed Files : 9

Paid Claims : $527,084.84 (including legal expenses)

O/S Files : None

O/S Reserves : None

BEOTHIC GENERAL

Closed Files : 47

Paid Claims : $2,309,511 (including $85,681.26 that was paid by us for adjusting and legal expenses).

O/S Files : 0

O/S Reserves : $25,000.00 (This includes a reserve for adjusting and legal expenses).

Remarks : Total dividend received to date $1,949,517.90.

HILAND INSURANCE

Closed Files : 618

Paid Claims : $6,356.696

O/S Files : 6

O/S Reserves : $475,000 (This includes a reserve of $100,000 for legal and adjustment expenses).

Remarks : Paid claims includes $387,033 paid on claims where coverage was disputed between Hiland and Lloyds. We are seeking recovery from Lloyds.

MAPLEX GENERAL

Closed Files : 2504 (Sub Files)

Paid Claims : $22,754.594

O/S Files : 17 (Sub Files)

O/S Reserves : $933,811 includes a reserve of $387,881 for legal and
adjustment expenses).

Remarks: : 40% dividend received.

GISCO

Closed Files : 641

Paid Claims : $3,632,218

O/S Files : 18

O/S Reserves : $1,601,000 (includes $250,000 for legal and adjusting expenses)

Remarks : Nearly all first party claims have been settled

RELIANCE INSURANCE

At this point, no assessment has been made on members and all
payments have been made by the Liquidator.

CANADIAN MILLERS' MUTUAL

Closed : 157

Paid Claims : 3,173,894

O/S Files : 31

O/S Reserves : $2,579.984

Remarks : On this winding-up, claims are being closed very quickly.

MARKHAM GENERAL

Closed : 1,977

Paid Claims : $5,821,103

O/S Files : 551

O/S Reserves : $7,745,665

R.G. Riddles
Vice-President, Claims