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Samuel M. Garvin, Jr.

Samuel M. Garvin, Jr. Vice President and Chief Financial Officer. Year in Review and Current State of Company. Sam Garvin – Financial Review Jill Dominguez – Underwriting / Reinsurance Ann Joslin – Claims Status & Procedures Robert Schmid – EIS Update

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Samuel M. Garvin, Jr.

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  1. Samuel M. Garvin, Jr. Vice President and Chief Financial Officer

  2. Year in Review and Current State of Company • Sam Garvin – Financial Review • Jill Dominguez – Underwriting / Reinsurance • Ann Joslin – Claims Status & Procedures • Robert Schmid – EIS Update • Debbie Gaffney, Southern Co. – IAC Update

  3. 2008FINANCIALREVIEW

  4. SIMPLIFIED BALANCE SHEET (In Millions)

  5. SIMPLIFIED BALANCE SHEET (In Millions)

  6. FIXED INCOME MANAGERS Pyramis Global Advisors Morgan Stanley EQUITY MANAGERS SSgA State Street Global Advisors INVESTMENT ADVISORS Frank Russell Company INVESTMENT MANAGEMENT

  7. FIXED INCOME MANAGERS Pyramis Global Advisors Morgan Stanley EQUITY MANAGERS SSgA State Street Global Advisors INVESTMENT ADVISORS Merrill Lynch INVESTMENT MANAGEMENT

  8. INVESTMENT MANAGERS ALLOCATION (In Millions)

  9. ASSET ALLOCATION - DECEMBER 31, 2008

  10. SIMPLIFIED BALANCE SHEET (In Millions)

  11. NET CLAIM RESERVES

  12. SIMPLIFIED BALANCE SHEET (In Millions)

  13. UNEARNED PREMIUM RESERVES

  14. STATEMENT OF OPERATIONS

  15. STATEMENT OF OPERATIONS 20082007CHANGE Net premiums earned $ 101.8 $ 115.5 $ (13.7)

  16. NET PREMIUMS EARNED (In Millions)

  17. STATEMENT OF OPERATIONS

  18. NET INVESTMENT INCOME

  19. INVESTMENT PERFORMANCE

  20. TOTAL RETURN PERCENTAGES

  21. TAX ADJUSTED PERFORMANCE VS. BENCHMARKS BY MANAGER ONE YEAR RETURNS PERFORMANCEBENCHMARK COMBINED FUND (22.4) (19.8) FIXED INCOME PYRAMIS 2.0 (0.9) MORGAN STANLEY (11.1) 4.9 EQUITY SSgA S&P 900 (36.5) (36.9) SSgA NON-US (42.8) (43.4)

  22. LONG TERM INVESTMENT PERFORMANCE AS OF DECEMBER 31, 2008 7 Years 2.5 % 5 Years 1.5 % 3 Years (2.4)%

  23. STATEMENT OF OPERATIONS

  24. STATEMENT OF OPERATIONS 20082007CHANGE Net losses and LAE incurred $ 136.2 $ 124.1 $ (12.1)

  25. NET LOSSES AND LAE (In Millions)

  26. LOSS RATIO

  27. INCURRED LOSSES BY ACCIDENT YEAR All Coverages

  28. NET INCURRED LOSSES BY ACCIDENT YEAR All Coverages

  29. NET INCURRED LOSSES BY ACCIDENT YEAR All Coverages (In Millions)

  30. CURRENT YEAR NET INCURRED LOSSES All Coverages By Accident Year (In Millions)

  31. NET LOSS PAYMENTS All Coverages (In Millions)

  32. TOTAL CLAIMS PAID1986 - 2008

  33. Gross IBNR $519.3 Million

  34. CHANGE IN POLICYHOLDERS’ SURPLUS (In Millions) BEGINNING SURPLUS $667.1 Plus: Net loss $ (22.8) Unrealized loss of investments $(177.0) Change $(199.8) ENDING SURPLUS $467.3

  35. 2009 A. M. BEST RATINGENERGY INSURANCE MUTUAL LIMITED BEST’S RATING: A (EXCELLENT) OUTLOOK: STABLE “The rating reflects the Company’s excellent capitalization, historically strong operating returns, and conservative leverage position.”

  36. Jill Dominguez Vice President-Underwriting

  37. WHAT’S GOING ON AT EIM? • Update on 2008 • Expectations for 2009 • Reinsurance treaty update

  38. NEW MEMBERSIN 2008 • Central Arizona Water Conservation District • Optim Energy LLC • City Public Service of San Antonio, TX • AES Corporation • Enel North America, Inc. • Vermont Electric Power Company

  39. MEMBERSHIP GROWTH 1986 - 2008

  40. MEMBER RETENTION RATE 2008 97% 2007 98% 2006 97% 2005 96% 2004 99%

  41. MEMBERSHIP MIX

  42. 2008 MEMBERSHIP • One Acquisition by Non-EIM Member • Three Non-Renewals • 2 no longer needed limits • 1 lost because of price/terms • Four Member/Member Mergers • ENDED 2008 WITH 173 MEMBERS

  43. MEMBER LONGEVITY 87% of membership has been with EIM at least 5 years

  44. 2008 $179.6M 2007 $194.1M GROSS WRITTEN PREMIUM2008 VS. 2007

  45. GENERAL LIABILITY • $89.5M Gross Written Premium • 162 EGL Policyholders • $75.6M Average Limit • $37.7M Average Attachment Point • 48.5% of excess GL Policies Written for Maximum $100M Limit

  46. GENERAL LIABILITY ENHANCEMENTS

  47. BREAKDOWN OF UNDERLYING CARRIERS GL AEGIS – 95% AIG – 1%

  48. $25M Wildfire aggregate each member California Wildfires

  49. ASH PONDS AND STORAGE LANDFILLS • Requirements to line? • Inspections/maintenance • How often? • Outside third party used? • Formed by products vs. natural materials? • Locations • Rural? • “Downstream” exposure? • Monitoring procedures i.e. • Groundwater monitoring systems • Capacity • Is it at limit? • Disposal only • Potential to sell to others?

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