Fact Sheet

Background

• St. Johns is a new homeowners insurance company – established in December of 2003
• Headquartered in Orlando, domiciled in Florida
• Capitalized at $12.5 million through a combination of debt and equity
• Rated “A” Exceptional by Demotech – which reflects excellent liquidity, an acceptable level of financial leverage as measured by total liability to statutory net worth and a balanced portfolio of insurance products. (Note: Demotech is a nationally-recognized rating service agency that analyzes and rates regional property casualty insurance companies for financial strength. It is recognized by the Florida Department of Insurance, Freddie Mac, Fannie Mae, HUD and major lending institutions.)

Business Strategy

• Be a long-term player – build a solid, consistent, high-quality company that agents and policyholders can rely on
• Product – residential property insurance, including windstorm-prone areas
• Distribution system – agents  
• Geographic focus – Florida
• Anticipated growth – 30,000 - 50,000 policies in 2004

Market Need The Company Addresses

Capacity – Florida has experienced explosive growth in residential real estate with 150,000 new homes being built per year*. But at the same time, there are fewer insurers willing to write new business in the state.

Ownership

• A privately-held insurer, owned by St. Johns Holding Company
• The primary shareholder is St. James Insurance Group, a managing general agency and program developer who has been underwriting homeowners policies since 1984.
• Seibels Bruce is a minority shareholder.

*U.S. Census Bureau