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CAPTIVE INSURANCE DIVISIONFacts and Statistics as of December 31, 2021Applicable Law:Arizona Revised Statutes §20-1098 et seq. and other applicable partsof Title 20.Permitted Coverages:Commercial property and casualty, surety, life and disabilityOrganizationalStructures:Stock, mutual, reciprocal, nonprofit, or limited liability companyMinimum RequiredCapital and Surplus:Pure captive 250,000Association or industry group 500,000Risk retention group 500,000Pure reinsurersFees:50% of the aboveindicated amountsAgency captive 500,000Protected cell captive 500,000Initial captive license and per cell fee 1,000Examiners’ Revolving Fund deposit 100Charter document filing fee 75Articles of Incorporation filing fee(payable to AZ Corporation Commission) 60Captive license renewal / per cell (annual)Financial examination, when requiredCaptive InsuranceProgram Contacts:Webv. 20220103 5,500 / 2,500Varies - Based on costVincent Gosz, Chief Captive AnalystRae Hughes, Captive AnalystStephen Briggs, Captive Program DevelopmentFrancine Juarez, Insurance Compliance AnalystCaptive Insurance Division100 North 15th Avenue, Suite 261Phoenix, AZ 85007-2630(602) stration/captive-insurerdomestic-rrgPage 1 of 11

ARIZONA’S ADVANTAGES Flat rate fees provide cost effective application and regulation processes No insurance premium tax Small-company exemption of annual actuarial opinion and audit requirements may apply No routine statutory exam for pure captives Pro-business environment Balance between competitive law and appropriate regulatory oversight Experienced team of professionals with collaborative industry relationshipARIZONA’S REQUIREMENTS Permissible lines of business with underwriting authority Payment of fees At least one Board meeting annually in Arizona Maintain principal place of business in Arizona Arizona captive manager Books and records in Arizona Minimum capital and surplus Resident statutory agent Financial reporting requirementsv. 20220103Captive Insurance Division: Facts and Statistics as of 12/31/2021Page 2 of 11

STATISTICSCumulative Growth by Year as of December 31, 2021YearLicensesIssuedLicensesTerminatedChange toPopulationCumulativeCountPopulationGrowth 15275%20024044TOTALS253v. 20220103149Captive Insurance Division: Facts and Statistics as of 12/31/2021Page 3 of 11

Distribution by Captive TypeAs of December 31, 2021Type of CaptivePurePure - ReinsuranceIndustry GroupAssociationAgencyProtected CellRRGTotalsCount10323422510149Percent ofTotal69%15%3%1%1%3%7%100%December 31, 2020December 31, 2019December 31, 2018Percent ofTotalPercent ofTotalPercent 466%17%4%2%1%2%9%100%Distribution by Industry ClassificationAs of December 31, 2021Industry ClassificationHealth Care and Social AssistanceConstructionFinance and InsuranceTransportation and WarehousingManufacturingRetail TradeAll OtherTotalsv. 20220103Count251834717840149Percent ofTotal17%12%23%5%11%5%27%100%December 31, 2020December 31, 2019December 31, 2018Percent ofTotalPercent ofTotalPercent ount281529912629128Captive Insurance Division: Facts and Statistics as of 2423%14%22%7%9%3%23%100%Page 4 of 11

Non-RRG vs. RRG Classification by IndustryNon-RRG CaptivesIndustry ClassificationHealth Care and Social AssistanceConstructionFinance and InsuranceTransportation and WarehousingManufacturingRetail TradeAll OtherTotalsv. 20220103CountPercent ofTotal16183461784013912%13%24%4%12%6%29%100%RRG CaptivesTotal CaptivesCountPercent 840149Captive Insurance Division: Facts and Statistics as of 12/31/2021Percent ofTotal17%12%23%5%11%5%27%100%Non-RRG vs. RRGNonRRG %RRG ge 5 of 11

CAPTIVE INSURANCE COMPANIESARS §20-1098.23 allows the Department to release the name of the captive insurer, the date licensed, the type of captive insurer, theindustry of the owners or members and the license status. Following is a list of captives holding an active license in the State ofArizona.Captive’s NameIndustry Group1224 Insurance Company1873 Group, Inc.Acressa Insurance, Inc.Advanced Providers Insurance RRGAdventis Insurance, Inc.Agensan Assurance, LLCAlaska Builders Captive Insurance Co.ALohA Insurance Services, Inc.Allied Professionals Insurance Co. RRGAmerican Association of Orthodontists RRGAmerican Honda Insurance Corp.American Medical Insurance, Inc.American Pride Captive Insurance CompanyAmherst Captive, LLCApple Insurance Company, Inc.Applied Medico-Legal Solutions RRGAquaGuardian Insurance Company, Inc.Arizona Health Reciprocal Insurance CompanyArrow Captive Insurance CompanyAssociated Insurance Company for Excess (AICE)Aviation Title Insurance (Arizona) Companyv. 20220103Transportation and WarehousingConstructionFinance and InsuranceHealth Care and Social AssistanceArts, Entertainment, and RecreationOther ServicesConstructionManufacturingHealth Care and Social AssistanceHealth Care and Social AssistanceManufacturingHealthcare and Social AssistanceHealth Care and Social AssistanceReal Estate Rental and LeasingManufacturingHealth Care and Social AssistanceConstructionHealth Care and Social AssistanceAccommodation and Food ServicesAdministrative and SupportProfessional, Scientific & TechnicalServicesCaptive Insurance Division: Facts and Statistics as of 12/31/2021YearLicensedCaptive 17200420212008200320102014202120072020Pure - ReinsurancePurePureRRGPurePureIndustry ndustry GroupPurePurePure - ReinsurancePage 6 of 11

Captive’s NameCaptive TypeHealthcare and Social AssistanceFinance and InsuranceArts, Entertainment, and RecreationHealthcare and Social AssistanceEducational ServicesReal Estate Rental and LeasingArts, Entertainment, and RecreationRetail TradeManufacturingAccommodation and Food ServicesHealth Care and Social AssistanceHealth Care and Social AssistanceTransportation and WarehousingHealth Care and Social AssistanceHealth Care and Social AssistanceFinance and InsuranceHealth Care and Social 2004200820042004200420052012PurePurePurePure - ndustry GroupProtected CellRRGFinance and InsuranceMembership OrganizationsFinance and InsuranceFinance and InsuranceHealth Care and Social AssistanceManufacturingRetail TradeConstructionHealth Care and Social Assistance201720152017201420182008201620062007Pure - ReinsurancePurePurePure - ReinsuranceRRGPurePurePurePureIndustry GroupAZ Captive Insurance LLCAzura Insurance CorporationBentley Murray Insurance Corp.Best Practices Re, Inc.Big Sky Reinsurance, Inc.Biscayne Assurance CompanyBlack Diamond Insurance, Inc.Brendan’s Journey Assurance, Inc.Broadway Insurance CompanyBRS Insurance Co.California Medical Group RRGCambridge Arizona Insurance CompanyCast Captive Insurance Co.Centurion Medical Liability Protective RRGCharitable Service Providers Reciprocal Group CaptiveCharter Life Insurance Co., Inc.Cherokee Guarantee Company, Inc. A Risk RetentionGroupCompanion Reinsurance, LLCCrestmont Insurance Co.CS Insurance Co.CS Life RE CompanyCurator MD Risk Retention Group, Inc.Cypress Insurance CompanyDay One Insurance, Inc.Diversified Insurance Co.DMG Insurance Co.v. 20220103YearLicensedCaptive Insurance Division: Facts and Statistics as of 12/31/2021Page 7 of 11

Captive’s NameIndustry GroupDrake Property & Casualty Insurance CompanyEA Captive LLCEarl Grey Insurance Company, Inc.Embassy Insurance Corp.EQ AZ Life Re CompanyEscoba Insurance CompanyFairway Insurance CompanyFirst Commercial Coverage USA CorporationFlexcap, Inc.Fort Maitland Assurance, Inc.Fort Pickens Assurance, Inc.Foodservice Insurance GroupGibraltar Universal Life Reinsurance CompanyGlobal Mountain Risk Solutions, Inc.Gulf Atlantic Casualty Insurance Co.HBM Global Risk Corp.Healthcare Captive Insurance Co.Healthcare Captive Solutions, Inc.HealthIQ Re, Inc.Hearing Protection Insurance CompanyHeinz-Noble, Inc.Hospitality Ins. Solutions, Inc.Huntington Captive Ins. Co.Hyundai Capital Insurance CompanyIndependent Innovative Captive Insurance CompanyInnovation Partners Assurance, Ltd.Jameson Insurance Companyv. 20220103Finance and InsuranceReal Estate and Rental LeasingManufacturingConstructionFinance and InsuranceConstructionArts, Entertainment, and RecreationReal EstateFinance and InsuranceConstructionConstructionAccommodation and Food ServicesFinance and InsuranceArts, Entertainment, and RecreationConstructionAccommodation and FoodHealth Care and Social AssistanceFinance and InsuranceFinance and InsuranceRetail TradeManufacturingAccommodation and Food ServicesFinance and InsuranceManufacturingRetail TradeManufacturingTransportation and WarehousingCaptive Insurance Division: Facts and Statistics as of 12/31/2021YearLicensedCaptive 200520212013Pure - ReinsurancePurePurePurePure - ReinsurancePurePurePurePurePurePureIndustry GroupPure - ReinsurancePurePurePurePurePurePure - ReinsurancePure - ReinsurancePurePurePurePurePure - ReinsurancePurePurePage 8 of 11

Captive’s NameIndustry GroupKamila Insurance CompanyLiberty Life & Benefits, Inc.Lock and Key Insurance CompanyManpowerGroup Captive Insurance, Inc.Maricopa Captive Insurance Co., Inc.Mariposa Insurance LLCMartin Street Insurance Company, Inc.MASA Captive Insurance Company, Inc.Maybrook Insurance CompanyMed Realty Insurance, LLCMG Insurance Captive, Inc.Mid-Atlantic Underwriting, Inc.Miranda Insurance Company, Inc.Mohave Transportation Insurance Co.Moneta Surety LLCNonstop Health Captive, LLCNorthwestern Arizona Regional Insurance Co.Novanta Insurance CompanyNW Re, Ltd.OHSU Insurance CompanyOrange County Medical Reciprocal Ins. Co. RRGPacific Captive Insurance Co.Paragon Insurance Co.PCR Insurance Co.Peak Assurance, Inc.Pearl City Insurance CompanyPeconic Indemnity Co.v. 20220103Finance and InsuranceFinance and InsuranceReal Estate Rental and LeasingAdministrative and Support ServicesConstructionAdministrative and Support ServicesConstructionFinance and InsuranceReal EstateReal EstateFinance and InsuranceFood and Kindred ProductsReal EstateTransportation and WarehousingManufacturingFinance and InsuranceHealth Care and Social AssistanceManufacturingWholesale TradeHealth Care and Social AssistanceHealth Care and Social AssistanceAgriculture, Forestry, and uringFinance and InsuranceCaptive Insurance Division: Facts and Statistics as of 12/31/2021YearLicensedCaptive ndustry GroupPurePureProtected CellPurePurePage 9 of 11

Captive’s NameIndustry GroupPenn-Ohio Life Insurance Co.Perimeter Insurance Company, Inc.Pine Insurance CompanyPleiades Insurance Co., Ltd.Providence Assurance Inc.Prudential Arizona Reinsurance Captive Co.Prudential Arizona Reinsurance Term CompanyPrudential Arizona Reinsurance Universal CompanyPrudential Term Reinsurance CompanyPrudential Universal Reinsurance CompanyQCS Insurance Co.Red Iron Insurance, Inc.Red Rock RRGRisk Resources Ltd.Riverside Captive Insurance CompanyRoaring River II, Inc.Rocky Range, Inc.Royal Assurance, Inc.SageSure Anchor Re, Inc.Saguaro National Captive Insurance Co.Salus Captive Company, Inc.S&S Lock Insurance (Arizona) Co.SCOR Arizona Reinsurance CompanySecurity Life of Denver InternationalSIS Insurance, Inc.v. 20220103Finance and lth Care and Social AssistanceFinance and InsuranceFinance and InsuranceFinance and InsuranceFinance and InsuranceFinance and InsuranceWholesale TradeConstructionTransportation and WarehousingManufacturingRetail TradeFinance and InsuranceFinance and InsuranceTransportation and WarehousingFinance and InsuranceAdministrative and Support; WasteManagement and RemediationConstructionManufacturingFinance and InsuranceFinance and InsuranceProfessional, Scientific & TechnicalServicesCaptive Insurance Division: Facts and Statistics as of 12/31/2021YearLicensedCaptive 2020102007200420162018200820202004Pure - ReinsurancePurePurePurePurePure - ReinsurancePure - ReinsurancePure – ReinsurancePure - ReinsurancePure - ReinsuranceAssociationPureRRGPurePurePure - ReinsurancePure - ReinsurancePureProtected CellPure20212018202120132015PurePurePure - ReinsurancePure - ReinsurancePurePage 10 of 11