Exhibit 99.1

CASE NAME: Acceptance Insurance Companies Inc.

CASE NO: 05-80059

Form OPR-1A

COMPARATIVE BALANCE SHEET

ASSETS

	6/30/07		7/31/07		8/31/07		9/30/07		10/31/07		11/30/07
CURRENT ASSETS:
Cash (Attach Recons. & Bk Stmts.)	1,144		923		(1,574	)	1,045		174		1,042
Investment securities, at market	1,520,322		1,497,261		1,398,559		1,338,405		1,306,525		1,299,985
Prepaid expense & deposits	60,000		60,000		60,000		60,000		60,000		60,000
TOTAL CURRENT ASSETS	1,581,466		1,558,184		1,456,985		1,399,450		1,366,699		1,361,027
OTHER ASSETS:
Note receivable from AIC	20,000,000		20,000,000		20,000,000		20,000,000		20,000,000		20,000,000
Valuation allowance	(20,000,000	)	(20,000,000	)	(20,000,000	)	(20,000,000	)	(20,000,000	)	(20,000,000	)
Investment in AIC, at underlying book value	11,863,974		11,945,142		11,945,142		11,945,142		13,439,301		13,439,301
Contingent claims	21,500,000		21,500,000		21,500,000		21,500,000		21,500,000		21,500,000
TOTAL OTHER ASSETS	33,363,974		33,445,142		33,445,142		33,445,142		34,939,301		34,939,301
TOTAL ASSETS	34,945,440		35,003,326		34,902,127		34,844,592		36,306,000		36,300,328

I CERTIFY UNDER PENALTY OF PERJURY THAT THIS 5 PAGE OPERATING REPORT IS TRUE AND CORRECT.

Date Submitted     December 6, 2007     Signed /s/ Gary N Thompson     Printed Name of Signatory    Gary N Thompson

CASE NAME: Acceptance Insurance Companies Inc.

CASE NO: 05-80059 Form OPR-1B

	6/30/07		7/31/07		8/31/07		9/30/07		10/31/07		11/30/07
LIABILITIES:
Post-Petition debt (Sched. C)	54,960		120,179		53,644		49,938		60,592		67,821
Pre-Petition Debt:
Litigation claims	22,000,000		22,000,000		22,000,000		22,000,000		22,000,000		22,000,000
Unsecured liabilities	46,054		46,054		46,054		46,054		46,054		46,054
Unsecured debt	116,110,260		116,110,260		116,110,260		116,110,260		116,110,260		116,110,260
TOTAL LIABILITIES	138,211,274		138,276,493		138,209,958		138,206,252		138,216,906		138,224,135
SHAREHOLDERS EQUITY:
Preferred stock	0		0		0		0		0		0
Common stock	6,274,000		6,274,000		6,274,000		6,274,000		6,274,000		6,274,000
Paid-in capital	199,660,000		199,660,000		199,660,000		199,660,000		199,660,000		199,660,000
Treasury stock	(29,969,000	)	(29,969,000	)	(29,969,000	)	(29,969,000	)	(29,969,000	)	(29,969,000	)
Retained earnings:
As of filing date	(281,005,796	)	(281,005,796	)	(281,005,796	)	(281,005,796	)	(281,005,796	)	(281,005,796	)
After filing date	1,774,962		1,767,629		1,732,965		1,679,136		3,129,890		3,116,989
TOTAL SHAREHOLDERS EQUITY	(103,265,834	)	(103,273,167	)	(103,307,831	)	(103,361,660	)	(101,910,906	)	(101,923,807	)
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	34,945,440		35,003,326		34,902,127		34,844,592		36,306,000		36,300,328

CASE NAME: Acceptance Insurance Companies Inc.

CASE NO: 05-80059	Form OPR-2
	STATEMENT OF INCOME

	6/30/07		7/31/07		8/31/07		9/30/07		10/31/07		11/30/07
REVENUE:
Net investment income	6,350		6,769		6,114		5,318		5,747		5,096
Net realized gain	0		0		0		0		0		0
Other	631		0		0		0		0		0
OPERATING EXPENSES:
Salaries and benefits	(6,949	)	(6,949	)	(6,949	)	(6,949	)	(6,949	)	(6,949	)
Board fees and expenses	(85	)	0		0		0		0		0
Financial advisor fees and expenses	0		(75,000	)	0		0		0		0
Legal fees and expenses	(63,486	)	(13,315	)	(28,913	)	(49,745	)	(34,394	)	(9,366	)
Accounting fees and expenses	(6,326	)	0		0		0		(5,174	)	0
Insurance	0		0		0		0		0		0
Franchise taxes	0		0		0		0		0		0
Filing fees and expenses	(1,953	)	0		(4,010	)	(2,447	)	(2,630	)	(1,668	)
Miscellaneous	(36	)	(5	)	(906	)	(5	)	(5	)	(14	)
NET OPERATING INCOME / LOSS	(71,854	)	(88,500	)	(34,664	)	(53,828	)	(43,405	)	(12,901	)
OTHER INCOME (EXPENSE):
Interest expense	0		0		0		0		0		0
Income tax refund	0		0		0		0		0		0
Equity in operating earnings of AIC	0		165,848		0		0		1,255,712		0
Equity in unrealized losses of securities of AIC	0		(84,680	)	0		0		238,447		0
TOTAL OTHER INCOME (EXPENSE)	0		81,168		0		0		1,494,159		0
NET INCOME (LOSS)	(71,854	)	(7,332	)	(34,664	)	(53,828	)	1,450,754		(12,901	)

	6/30/07		7/31/07		8/31/07		9/30/07		10/31/07		11/30/07
CASH DIFFERENCE:
Current ending cash balance	1,144		923		(1,574	)	1,045		174		1,042
Less ending prior month balance	(810	)	(1,144	)	(923	)	1,574		(1,045	)	(174	)
NET CASH INCREASE (DECREASE)	334		(221	)	(2,497	)	2,619		(871	)	868
SOURCES OF CASH:
Net income (loss)	(71,854	)	(7,332	)	(34,664	)	(53,828	)	1,450,754		(12,901	)
Equity in earnings and unrealized losses of AIC	0		(81,168	)	0		0		(1,494,159	)	0
Decrease in:
Receivables	0		0		0		0		0		0
Marketable securities	90,534		23,061		98,702		60,154		31,880		6,540
Increase in:
Post- petition debt	0		65,218		0		0		10,654		7,229
Pre-petition debt	0		0		0		0		0		0
TOTAL SOURCES OF CASH	18,680		(221	)	64,038		6,326		(871	)	868
USES OF CASH:
Increase in:
Receivables	0		0		0		0		0		0
Marketable securities	0		0		0		0		0		0
Decrease in:
Post-petition debt	(18,346	)	0		(66,535	)	(3,707	)	0		0
Pre-petition debt	0		0		0		0		0		0
TOTAL USES OF CASH	(18,346	)	0		(66,535	)	(3,707	)	0		0
NET CASH INCREASE (DECREASE)	334		(221	)	(2,497	)	2,619		(871	)	868

CASE NAME: Acceptance Insurance Companies Inc.

CASE NO: 05-80059	SCHEDULE C
	SCHEDULE OF POST PETITION DEBT

	6/30/07	7/31/07	8/31/07	9/30/07	10/31/07	11/30/07
TRADE ACCOUNTS PAYABLE	54,960	120,179	53,644	49,938	60,592	67,821
PAYROLL AND PAYROLL TAXES	0	0	0	0	0	0
TAXES PAYABLE	0	0	0	0	0	0
TOTAL POST PETITION DEBT	54,960	120,179	53,644	49,938	60,592	67,821