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2015 Third Quarter Update

Incorporated in 1985, Demotech is a financial analysis firm serving both the property and casualty and title insurance industries, and became the first company to review and rate independent regional insurers in 1989. We caught up with Joseph Petrelli, President and Founder of Demotech, Inc. to find out how their company continued to thrive in Q3.

We are a company that has grown substantially in terms of the carriers we review and rate as well as top line revenue. In the 3rd quarter and beyond, we will announce two distinct initiatives: one to directly benefit larger carriers and one focused on regional and specialty carriers.

Company: Demotech, Inc. Name: Joseph L. Petrelli Email: jpetrelli@demotech.com Web: www.demotech.com Address: 2715 Tuller Parkway Dublin, OH 43017 Telephone: 1 614 761 8602

Over the past 12 months, we have seen carriers that we review acquiring other carriers that we review. Although the headlines tend to be focused on larger, multi-billion, international deals, the regional and specialty carriers in the US domestic market have been quite active. In this market, financially stable specialty insurers are finding ways to leverage their distinctive competence and business models by merging or consolidating. The benefits of these measures are a decreased cost of reinsurance, and they can focus their sophisticated underwriting techniques on jurisdictions where they can add value and provide an exit plan for senior management.

ways to leverage their expertise by identifying and penetrating markets where the threat of hurricane, flood and tornado exposure tends to keep the publicly traded carriers, who are focused on the stability of quarterly earnings, apprehensive. In the US, 90% of the carriers write 10% of the premium and 10% of the companies write 90% of the premium. We are focused on those regional and specialty insurers, and we understand them because, in our working careers, each of our key analysts has worked for a regional carrier or two. We are practitioners of insurance first and foremost, and not academics. Looking towards the future, we will continue to do the right things for the right reasons, and assist our clients in any ethical, moral and legal way.

In the US, opportunities abound for the quick and the nimble. Regional specialty insurance carriers focused on property insurance are finding new

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