EX-99 4 exhibit99-2.txt EXHIBIT 99.2 Exhibit 99.2
PMA Capital Corporation Operating Cash Flows - Consolidated (In Thousands) ------------- ----------- ------------ 2nd 3rd 4th 1st 2nd Six Six Quarter Quarter Quarter Quarter Quarter Months Months 2002 2002 2002 2003 2003 2003 2002 -------------------------------------------------------------------------------------------------- Receipts: Premiums and other revenues collected $ 307,403 $ 274,892 $ 272,335 $ 282,209 $ 408,514 $ 690,723 $ 533,075 Investment income received 28,175 19,367 24,706 20,108 27,434 47,542 48,134 ------------- ------------- ------------- ------------ ------------ ------------- ------------ Total receipts 335,578 294,259 297,041 302,317 435,948 738,265 581,209 ------------- ------------- ------------- ------------ ------------ ------------- ------------ Disbursements: Losses and LAE paid: Losses and LAE paid - current year 30,858 39,288 59,147 6,787 35,305 42,092 39,692 Losses and LAE paid - prior year 196,635 145,222 113,417 210,892 183,345 394,237 368,672 ------------- ------------- ------------- ------------ ------------ ------------- ------------ Total losses and LAE paid 227,493 184,510 172,564 217,679 218,650 436,329 408,364 Insurance operating expenses paid 83,465 70,963 67,197 86,945 115,052 201,997 159,473 Policyholders' dividends paid 1,499 3,826 1,868 1,627 1,439 3,066 3,658 Interest on corporate debt 258 989 239 2,484 502 2,986 863 ------------- ------------- ------------- ------------ ------------ ------------- ------------ Total disbursements 312,715 260,288 241,868 308,735 335,643 644,378 572,358 ------------- ------------- ------------- ------------ ------------ ------------- ------------ Net other (13,692) (13,914) 9,042 (4,358) 3,373 (985) (20,956) ------------- ------------- ------------- ------------ ------------ ------------- ------------ Net operating cash flows $ 9,171 $ 20,057 $ 64,215 $ (10,776) $ 103,678 $ 92,902 $ (12,105) ============= ============= ============= ============ ============ ============= ============
PMA Capital Corporation Operating Cash Flows - PMA Re (In Thousands) ------------- ------------ ----------- 2nd 3rd 4th 1st 2nd Six Six Quarter Quarter Quarter Quarter Quarter Months Months 2002 2002 2002 2003 2003 2003 2002 -------------------------------------------------------------------------------------------------- Receipts: Premiums collected $ 178,785 $ 151,233 $ 144,418 $ 162,598 $ 271,602 $ 434,200 $ 264,155 Investment income received 16,479 8,847 13,740 9,162 16,007 25,169 26,604 ------------- ------------- ------------- ------------- ------------- ------------ ----------- Total receipts 195,264 160,080 158,158 171,760 287,609 459,369 290,759 ------------- ------------- ------------- ------------- ------------- ------------ ----------- Disbursements: Losses and LAE paid: Losses and LAE paid - current year 6,132 14,813 17,895 865 9,701 10,566 6,491 Losses and LAE paid - prior year 113,214 73,100 58,008 115,870 104,331 220,201 188,222 ------------- ------------- ------------- ------------- ------------- ------------ ----------- Total losses and LAE paid 119,346 87,913 75,903 116,735 114,032 230,767 194,713 Insurance operating expenses paid 48,120 46,030 40,788 47,406 76,072 123,478 77,742 ------------- ------------- ------------- ------------- ------------- ------------ ----------- Total disbursements 167,466 133,943 116,691 164,141 190,104 354,245 272,455 ------------- ------------- ------------- ------------- ------------- ------------ ----------- Net other (16,819) (3,017) 13,613 660 8,572 9,232 (23,284) ------------- ------------- ------------- ------------- ------------- ------------ ----------- Net operating cash flows $ 10,979 $ 23,120 $ 55,080 $ 8,279 $ 106,077 $ 114,356 $ (4,980) ============= ============= ============= ============= ============= ============ =========== ------------- ------------- ------------
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PMA Capital Corporation Operating Cash Flows - PMA Insurance Group (In Thousands) ------------- ------------- ------------- 2nd 3rd 4th 1st 2nd Six Six Quarter Quarter Quarter Quarter Quarter Months Months 2002 2002 2002 2003 2003 2003 2002 -------------------------------------------------------------------------------------------------- Receipts: Premiums and other revenues collected $ 100,424 $ 128,822 $ 129,911 $ 120,589 $ 138,915 $ 259,504 $ 213,453 Investment income received 10,431 9,600 9,859 9,340 9,772 19,112 19,302 ------------- ------------ ------------ ------------- ------------- ------------- ------------- Total receipts 110,855 138,422 139,770 129,929 148,687 278,616 232,755 ------------- ------------ ------------ ------------- ------------- ------------- ------------- Disbursements: Losses and LAE paid: Losses and LAE paid - current year 23,723 20,323 38,742 5,226 24,316 29,542 28,352 Losses and LAE paid - prior year 63,873 60,234 40,901 83,269 60,049 143,318 149,083 ------------- ------------ ------------ ------------- ------------- ------------- ------------- Losses and LAE 87,596 80,557 79,643 88,495 84,365 172,860 177,435 Insurance operating expenses paid 28,796 22,970 21,637 37,212 37,214 74,426 67,879 Policyholders' dividends paid 1,499 3,826 1,868 1,627 1,439 3,066 3,658 ------------- ------------ ------------ ------------- ------------- ------------- ------------- Total disbursements 117,891 107,353 103,148 127,334 123,018 250,352 248,972 ------------- ------------ ------------ ------------- ------------- ------------- ------------- Net other 3,398 (6,244) 4,338 (5,052) (1,795) (6,847) 689 ------------- ------------ ------------ ------------- ------------- ------------- ------------- Net operating cash flows $ (3,638) $ 24,825 $ 40,960 $ (2,457) $ 23,874 $ 21,417 $ (15,528) ============= ============ ============ ============= ============= ============= ============= ------------- ------------- -------------
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PMA Capital Corporation Operating Cash Flows - Run-off Operations 1 (In Thousands) ------------- ------------ ----------- 2nd 3rd 4th 1st 2nd Six Six Quarter Quarter Quarter Quarter Quarter Months Months 2002 2002 2002 2003 2003 2003 2002 ------------------------------------------------------------------------------------------------- Receipts: Net premiums collected (paid) $ 28,194 $ (5,163) $ (1,994) $ (978) $ (2,003) $ (2,981) $ 55,467 Investment income received 1,265 920 1,107 1,606 1,655 3,261 2,228 ------------- ------------- ------------ ------------ ------------ ------------ ----------- Total receipts 29,459 (4,243) (887) 628 (348) 280 57,695 ------------- ------------- ------------ ------------ ------------ ------------ ----------- Disbursements: Losses and LAE paid: Losses and LAE paid - current year 1,003 4,152 2,510 696 1,288 1,984 4,849 Losses and LAE paid - prior year 19,548 11,888 14,508 11,753 18,965 30,718 31,367 ------------- ------------- ------------ ------------ ------------ ------------ ----------- Total losses and LAE paid 20,551 16,040 17,018 12,449 20,253 32,702 36,216 Insurance operating expenses paid 6,549 1,963 4,772 2,327 1,766 4,093 13,852 ------------- ------------- ------------ ------------ ------------ ------------ ----------- Total disbursements 27,100 18,003 21,790 14,776 22,019 36,795 50,068 ------------- ------------- ------------ ------------ ------------ ------------ ----------- Net other 98 (9,407) 5,784 74 (20) 54 (1,764) ------------- ------------- ------------ ------------ ------------ ------------ ----------- Net operating cash flows $ 2,457 $ (31,653) $ (16,893) $ (14,074) $ (22,387) $ (36,461) $ 5,863 ============= ============= ============ ============ ============ ============ =========== ------------- ------------ ------------
1 Formerly known as Caliber One. 25