state of alaskadoa.alaska.gov/drm/pdf/actuarialreport.pdf · october 17, 2017 mr. scott jordan...

Date: September 15, 2017

State of Alaska Self-Insurance Program

Actuarial Review

As of June 30,2017

Firm: AMI Risk Consultants, Inc.

1336 SW 146th Ct.

Miami, Florida 33184

(305) 273-1589

Contact: Aguedo Ingco, FCAS, MAAA, CPCU, ARM

Date: October 17, 2017

October 17, 2017

Mr. Scott Jordan

Director, Risk Management

State of Alaska

Department of Administration, Division of Risk Management

333 Willoughby Avenue, 10th Floor

Juneau, AK 99801

Dear Mr. Jordan:

We are pleased to submit our final report on the Actuarial Review of the State’s Self-

Insurance Program as of June 30, 2017.

We very much appreciate the cooperation and courtesies extended to us during the course

of this engagement. Please do not hesitate to contact us if you have any question about

the report.

Thank you for the opportunity to work with you on this project.

Sincerely,

Aguedo M. Ingco, FCAS, MAAA, CPCU, ARM

President

AMI Risk Consultants, Inc.

TABLE OF CONTENTS

I. EXECUTIVE SUMMARY PAGE

Purpose ................................................................................................................................. 1

Terminology ......................................................................................................................... 2

GASB 10 Affirmation .......................................................................................................... 2

Acknowledgment of Qualifications ..................................................................................... 2

Distribution and Use ............................................................................................................ 2

Conclusions .......................................................................................................................... 3-7

Reliance and Limitations ...................................................................................................... 8-9

II. ACTUARIAL REPORT PAGE

Background .......................................................................................................................... 10

Actuarial Approach .............................................................................................................. 11-13

Graphs .................................................................................................................................. 14-19

Attached Exhibits ................................................................................................................. 20-23

III. ACTUARIAL EXHIBITS EXHIBIT

Summary Exhibit ................................................................................................................. Summary

Calculation of Loss Reserves - Workers' Compensation ..................................................... I

Calculation of Loss Reserves - General Liabilitu ................................................................ II

Calculation of Loss Reserves - Automobile Liability .......................................................... III

Calculation of Loss Reserves - Marine ................................................................................ IV

Calculation of Loss Reserves - Aviation .............................................................................. V

Calculation of Loss Reserves - Property .............................................................................. VI


TABLE OF CONTENTS

(Continued)

Calculation of Discount Factors ........................................................................................... Appendix A

Analysis of Net Undiscounted Reserve Change .................................................................. Appendix B

Comparison of Estimated Ultimate Losses .......................................................................... Appendix C

Comparison of Paid Losses ................................................................................................. Appendix D

List of Self-Insured Retentions ............................................................................................ Appendix E

List of Large Losses ............................................................................................................. Appendix F

IV. GLOSSARY OF TERMS


I. EXECUTIVE SUMMARY


State of Alaska

Self-Insurance Programs

Actuarial Review

June 30, 2017

Purpose

The State of Alaska (“the State”) has engaged AMI Risk Consultants, Inc. (“AMI”) to perform the following for its self-insurance programs covering Workers’ Compensation, General Liability, Automobile Liability, Marine, Aviation and Property exposures: • Estimate the funding requirement for outstanding claim liabilities at

June 30, 2017 to comply with Government Accounting Standards Board Statement Number 10 (“GASB 10”).

• Project the funding requirements for outstanding claim liabilities for the next three fiscal year-ends.

• Estimate the funding requirements for new claims that will occur during

prospective fiscal years 2017/2018, 2018/2019, and 2019/2020.

• Estimate the funding requirements for new claims that will occur during prospective fiscal years 2017/2018, 2018/2019, and 2019/2020 for workers' compensation, general liability, and auto liability, assuming a $1 million self-insured retention.

• Estimate cash flow requirements for paid losses for future fiscal years.

• Provide a size of loss distribution analysis.


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Terminology

The funding requirement for an accident period is the liability retained for claims that occur during that period. The funding requirement for outstanding claim liabilities includes:

• Case reserves for reported claims and • Incurred but not reported (“IBNR”) reserves, providing for both

unreported claims and any anticipated shortfall in case reserves.

Discounted estimates are reduced by a credit for future investment income that will be earned on the assets backing the claim liabilities before claims actually payout.

Estimates at the various confidence levels include a margin to protect against the possibility of adverse results. Estimates at the expected confidence level do not contain any such margin.

Specifically excluded from our estimates is any provision to meet other general and administrative expenses of the program such as claims administration costs, excess insurance premiums or internal risk management expenses.

The term "losses" means losses and allocated loss adjustment expense (“ALAE”) unless otherwise indicated.

The term “reserves” or “loss reserves” is commonly used in the insurance industry to mean outstanding claim liability as of a given date, and may appear in this report with that meaning.

GASB 10 Affirmation

We affirm the estimates contained in this report are consistent with GASB Statement No. 10.

Acknowledgment of Qualifications

Aguedo M. (Bob) Ingco is a consulting actuary and President of AMI Risk Consultants, Inc. He is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries. Mr. Ingco meets the qualification standards of the American Academy of Actuaries to provide the estimates in this report.

Distribution and Use

This report is for the internal use of the management of the State and their independent auditors. We suggest that the user of this report review a complete copy as parts considered out of context might be misleading. Please request our written consent prior to distributing this report to other third parties.



Conclusions

Funding for Outstanding Claim Liabilities (Loss Reserves) at June 30, 2017 To comply with GASB 10, we estimated the following funding for the State’s outstanding claim liabilities at June 30, 2017. This is the amount needed to settle unpaid claim liabilities incurred on or before June 30, 2017.

Estimated Outstanding Claim Liabilities at Retention

As of June 30, 2017 Expected Confidence Level

($000’s)

Coverage Undiscounted Discounted at 3.0% Workers' Compensation $144,334 $120,209 General Liability 13,452 12,382 Automobile Liability 493 480 Marine 1,078 1,046 Aviation 254 244 Property 849 833 Total $160,460 $135,194

Estimates for other confidence levels are shown in the Summary Exhibit, Page 1A of the Actuarial Exhibits immediately following this written report. Funding for Outstanding Claim Liabilities for the Next Three Fiscal Year-ends We also estimated the funding requirements for the State’s outstanding claim liabilities at June 30, 2018, at June 30, 2019, and at June 30, 2020.

Estimated Outstanding Claim Liabilities at Retention As of June 30, 2018

Expected Confidence Level ($000’s)

Coverage Undiscounted Discounted at 3.0%

Workers' Compensation $140,105 $116,006 General Liability 14,280 13,151 Automobile Liability 463 450 Marine 999 970 Aviation 362 347 Property 667 657 Total $156,876 $131,581



Conclusions (continued)



($000’s)

Coverage Undiscounted Discounted at 3.0% Workers' Compensation $139,533 $115,411 General Liability 14,868 13,693 Automobile Liability 439 426 Marine 941 913 Aviation 432 415 Property 641 629 Total $156,855 $131,485



($000’s)

Coverage Undiscounted Discounted at 3.0% Workers' Compensation $140,266 $116,068 General Liability 15,406 14,193 Automobile Liability 417 403 Marine 971 941 Aviation 473 454 Property 683 670 Total $158,217 $132,730

Estimates for other confidence levels are shown in the Summary Exhibit, Pages 1B to 1D of the Actuarial Exhibits immediately following this written report.




Funding for New Claims Occurring During Future Fiscal Years

Our estimated funding for the ultimate cost of new claims occurring during the next three fiscal years is as follows.

Estimated Ultimate Losses for New Claims

At the Expected Confidence Level ($000’s)

For Fiscal Year 2017/2018









Estimates for other confidence levels are shown in the Summary Exhibit, Pages 2A to 2C of the Actuarial Exhibits immediately following this written report.




Funding for New Claims Occurring During Future Fiscal Years - Limited to $1 Million Retention Currently, the State retains all claim liabilities for the workers' compensation, general liability, and automobile liability programs. As part of the scope of this report, the State requested an estimate of the ultimate losses for new claims for these programs assuming a $1 million per occurrence self-insured retention.

Estimated Ultimate Losses for New Claims Undiscounted at the Expected Confidence Level

Limited to $1 Million Retention ($000’s)

Coverage 2017/2018 2018/2019 2019/2020

Workers' Compensation $22,923 $23,267 $23,618 General Liability 2,859 2,913 2,967 Automobile Liability 238 242 246




Projected Cash Flow from Paid Losses

Our estimated cash flow from paid losses during the next three fiscal years is as follows. These are estimates of the cash required for claim payments that will come due during each of the next three years.

Projected Paid Loss Cash Flow At the Expected Confidence Level

($000’s)

Coverage 2017/2018 2018/2019 2019/2020 Workers' Compensation $27,662 $29,163 $28,232 General Liability 3,115 3,430 3,554 Automobile Liability 370 369 373 Marine 855 881 843 Aviation 193 235 269 Property 981 873 856 Total $33,176 $34,951 $34,128



Reliance and Limitations

In performing the analysis, we relied without audit or verification on the following information furnished by the State. We reviewed the data received for reasonableness and consistency with prior valuations. • Incurred and paid losses by accident year as of June 30, 2017 for the

following coverages:

1. Workers’ Compensation 2. General Liability 3. Automobile Liability 4. Marine 5. Aviation 6. Property.

• Full-time employee, population and vehicle counts, and property value by fiscal year.

Our contact at the State Division of Risk Management was Ms. Sheri Gray, Risk Manager. In performing our calculations for Marine, Aviation and Property, losses were limited to their respective self-insurance retentions. Losses for General Liability and Automobile Liability were not limited. Workers' Compensation losses were not limited except for those from accident years prior to 1994. Based on the discussions from the prior actuarial study, losses for all coverages were analyzed gross of recoveries and on an occurrence basis.



Reliance and Limitations (continued)

Risk of Adverse Deviation Calculations of reserves are subject to potential errors of estimation because the ultimate liability for claims is subject to the outcome of events yet to occur, e.g. jury decisions and attitudes of claimants with respect to settlements. In projecting loss emergence, we assumed that historical loss development patterns are predictive of future patterns for the State. We have not anticipated any extraordinary changes in the legal, social or economic environment that might affect the ultimate cost of claims. We cannot reasonably estimate the uncertainties that ultimate liabilities are subject to. Therefore, while we believe our assumptions and methods are reasonable, we cannot guarantee that actual results will not differ, perhaps substantially, from our estimates.


II. ACTUARIAL REPORT



Background

The State has self-insured its workers' compensation, general liability, automobile liability, marine, aviation, and property programs for many years. By effectively managing these self-insurance programs through the Division of Risk Management, the State expends less public funds than would be paid to private insurance companies, and at the same time provides streamlined claims services utilizing professional adjusting firms located throughout Alaska. Currently the State retains full liability for the workers’ compensation, general liability, and auto liability programs. The property program has a $1 million per occurrence self-insurance retention. The marine program has a $750,000 per occurrence self-insurance retention for marine Hull & Machinery and a $500,000 per occurrence for Protection & Indemnity as well as Pollution coverage. The aviation program has a $250,000 per occurrence self-insurance retention ($10,000 per occurrence for Non-Owned Hull). The current and historical self-insured retentions for each program are summarized in Appendix E. The programs cover all State Departments except those specifically excluded such as the Alaska Railroad and University of Alaska, who administer their own insurance program.



Actuarial Approach Description of the methods we used to estimate the reserves as of June 30, 2017.

Ultimate Losses To estimate ultimate losses, we used the following actuarial approaches: • Incurred Loss Development Approach (ILDA) • Paid Loss Development Approach (PLDA) • Bornhuetter-Ferguson Incurred Loss Approach (BFILA) • Bornhuetter-Ferguson Paid Loss Approach (BFPLA) • Loss Rate Approach (LRA). Incurred Loss Development Approach (ILDA) Under the ILDA, incurred losses to date were multiplied by loss development factors to estimate ultimate losses. Paid Loss Development Approach (PLDA) The PLDA is similar to the ILDA. Instead of multiplying incurred losses by loss development factors, paid losses were multiplied by loss development factors to estimate ultimate losses. Loss Rate Approach (LRA) To react to the immaturity of the paid and incurred losses for the most recent accident year, the LRA was used in lieu of the ILDA and PLDA. Under the LRA, a loss rate is judgmentally selected for the most recent year. This loss rate is then multiplied by the appropriate exposure to estimate ultimate losses. Bornhuetter-Ferguson Incurred Loss Approach (BFILA) Under the BFILA, actual incurred losses and expected unreported losses were summed to estimate ultimate losses. Bornhuetter-Ferguson Paid Loss Approach (BFPLA) Under the BFPLA, actual paid losses and expected unpaid losses were summed to estimate ultimate losses. These approaches were applied to losses net of excess insurance for marine, aviation and property. Loss development factors were based on the State’s historical loss development patterns by coverage. The initial ultimate loss assumptions for the BFILA and BFPLA were determined using a selected loss rate for each coverage. The loss rates were selected from those indicated by the ILDA and PLDA.



Actuarial Approach (continued) The steps we used to estimate the ultimate losses for future Fiscal Years

Funding for Outstanding Claim Liabilities (Loss Reserves) as of June 30, 2017 Ultimate losses were selected from the results of the described approaches. Paid losses were subtracted from the selected ultimate to estimate total undiscounted loss reserves.

Funding for New Claims Occurring in Future Fiscal Years

To estimate the ultimate losses for prospective fiscal years by coverage, we followed these steps: • Estimated the historical loss rates by accident year. Loss rates are selected

ultimate losses divided by the appropriate exposures.

• Extrapolated the historical loss rates to future fiscal years.

• Multiplied the extrapolated loss rates by the projected exposures for future years.

For workers' compensation. general liability, and automobile liability, the funding requirements for future fiscal years were also projected assuming a $1 million self-insurance retention. A retention factor, based on industry increased limits factors for the State, is applied to the unlimited projected losses to estimate the funding amount at the retention limit.

Funding for Outstanding Claim Liabilities (Loss Reserves) for Future Fiscal Year-ends The estimated future loss reserves were based on the loss reserves from the prior fiscal year-end plus an estimate of the additional losses for new claims incurred in the new fiscal year, reduced by the expected payments during the new year.



Actuarial Approach (continued)

Future Investment Income and Risk Margins Because claims are not settled immediately, reserves used to fund future payments earn investment income before they are needed to pay claims. In estimating the discounted funding for outstanding claim liability at June 30, 2017 and the discounted funding for new claims occurring during next three fiscal years, we reduced the undiscounted estimates by the amount of estimated future investment income. We assumed an average annual rate of return on invested assets of 3.0%. Furthermore, our estimates using the various methods and procedures we have described are based on an expected value. Conceptually, an expected value is an average value. The actual losses of an entity like the State will vary and could be higher or lower than this average value. The more risk margin that is added to this average value in determining the funding level, the higher the likelihood that the State’s funding will be sufficient to cover actual losses. In our calculations we used margins for 75%, 85% and 95% confidence levels. With the 75% confidence level we are estimating the margin that is necessary so that there is a 75% likelihood that the funding will be sufficient to cover the actual liabilities.



Graphs The bulk of the $160.5 million undiscounted reserves as of June 30, 2017 is for Workers’ Compensation

Distribution of Undiscounted Loss Reserves by Coverage For additional perspective, we prepared the pie chart below to show the proportion of the estimated reserves of $160.5 million, associated with each coverage:

WC89.95%

GL8.38%

AL0.31%

MARINE0.67% AVIATION

0.16%

PROPERTY0.53%

TOTAL ESTIMATED RESERVESUNDISCOUNTED - EXPECTED CONFIDENCE LEVEL

AT JUNE 30, 2017

WC = Workers' Compensation AL = Automobile Liability GL = General Liability



Graphs (continued)

Graphs of Ultimate Losses and Loss Rates To give perspective on the prospective funding levels relative to the historical trend in ultimate losses and loss rates, we prepared the following graphs by type of coverage. For each graph the bar graph shows historical and projected ultimate losses by accident year. Values are read from the left-hand vertical axis. The line graph, on the other hand, indicates the loss rate with values and description read from the right-hand vertical axis.

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Graphs (continued)

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Graphs (continued)

Graphs of Ultimate Claim Frequency and Ultimate Claim Severity To give perspective on claim frequency and claim severity, we prepared the following graphs by type of coverage.

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Attached Exhibits

We prepared the attached Summary Exhibit to summarize the results of our calculations. There are three (3) pages to the Summary Exhibit. Each page relates to the following: • Pages 1A, 1B, 1C, and 1D show the summary of loss reserves at various

confidence levels and on both an undiscounted and discounted basis for the following fiscal year-ends: June 30, 2017; June 30, 2018; June 30, 2019; and June 30, 2020.

• Pages 2A, 2B, and 2C show the projected ultimate losses for the next three fiscal years, at various confidence levels and on both an undiscounted and discounted basis.

• Page 3 shows the estimated paid loss cash flows for the next three fiscal years.

We prepared Exhibits I-VI to perform the calculations previously described. Each exhibit corresponds to the following coverage: • Exhibit I - Workers’ Compensation • Exhibit II – General Liability • Exhibit III- Automobile Liability • Exhibit IV – Marine • Exhibit V – Aviation • Exhibit VI – Property

There are nine (9) pages to Exhibits I-VI and each page relates to the following: • Page 1A shows a summary of ultimate losses based on the various

methods, the selected ultimate loss and undiscounted loss reserves at the expected confidence level as of June 30, 2017.

Pages 1B, 1C, and 1D show estimates of the undiscounted loss reserves at the expected confidence level for the next three fiscal year-ends.

• Page 2 shows calculation of ultimate losses using the ILDA, PLDA and

LRA.



Attached Exhibits (continued)

• Page 3 shows the calculation of ultimate losses using the BFILA

and BFPLA. • Pages 4A to 4B show the calculation of historical incurred loss

development factors; Pages 4C to 4D show the calculation of historical paid loss development factors; Pages 4E to 4F show the calculation of claim count development factors.

• Pages 5A, 5B, 5C, and 5D shows the calculation of discounted

reserves at the expected level and at the 75%, 85% and 95% confidence levels for the following fiscal year-ends: June 30, 2017; June 30, 2018; June 30, 2019; and June 30, 2020.

• Page 6 shows the calculation of projected ultimate losses for new claims occurring during the next three fiscal years at the expected level and at the 75%, 85% and 95% confidence levels. For Exhibits I, II, and III, Page 6A shows the calculation of projected ultimate losses, assuming a $1 million self-insurance retention is in place.

• Page 7 shows the calculation of ultimate claim frequency and ultimate claim severity.

• Page 8 shows the calculation of paid cash flows during the fiscal

years. • Page 9 shows the analysis of the size of loss distribution. Calculation of Discount Factors We prepared Appendix A to show the calculation of discount factors using the average “risk-free” rate of return for investments maturing during the expected claim payout period. There are six pages to this Appendix: • Page 1 - Workers’ Compensation • Page 2 – General Liability • Page 3 - Automobile Liability • Page 4 – Marine • Page 5 – Aviation • Page 6 – Property




Comparison of Loss Reserves at June 30, 2017 to Loss Reserves at June 30, 2016 Appendix B reconciles the undiscounted reserves as of June 30, 2017 with the undiscounted reserves as of June 30, 2016. This Appendix has seven pages: • Page 1 - All Coverages Combined • Page 2 - Workers’ Compensation • Page 3 – General Liability • Page 4 - Automobile Liability • Page 5 – Marine • Page 6 – Aviation • Page 7 – Property

Comparison of Ultimate Losses at June 30, 2017 to Ultimate Losses at June 30, 2016

Appendix C shows the comparison of ultimate losses between June 30, 2017 and June 30, 2016 by accident year. • Page 1 - Workers’ Compensation • Page 2 – General Liability • Page 3 - Automobile Liability • Page 4 – Marine • Page 5 – Aviation • Page 6 – Property

Comparison of Paid Losses at June 30, 2017 to Paid Losses at June 30, 2016

Appendix D shows the comparison of paid losses between June 30, 2017 and June 30, 2016 by accident year. • Page 1 - Workers’ Compensation • Page 2 – General Liability • Page 3 - Automobile Liability • Page 4 – Marine • Page 5 – Aviation • Page 6 – Property




List of Self-insured Retentions by Fiscal Year Appendix E shows the list of self-insurance retentions by fiscal year and by sub-line. • Page 1 - Workers’ Compensation • Page 2 – General Liability • Page 3 - Automobile Liability • Page 4 – Marine • Page 5 – Aviation • Page 6 – Property

List of Large Losses

Appendix F shows a list of unlimited large losses as of June 30, 2017. • Page 1 - Workers’ Compensation • Page 2 – General Liability • Page 3 - Automobile Liability • Page 4 – Marine • Page 5 – Aviation • Page 6 – Property


III. ACTUARIAL EXHIBITS


SUMMARY EXHIBITPAGE 1A OF 3

STATE OF ALASKAACTUARIAL REVIEW OF SELF-INSURANCE PROGRAM

SUMMARY OF LOSS RESERVES

ALL COVERAGES COMBINED(AMTS IN THOUSANDS)

LOSS RESERVES AT JUNE 30, 2017

UNDISCOUNTEDCOVERAGE EXPECTED EXPECTED 75% CONFIDENCE 85% CONFIDENCE 95% CONFIDENCE

LEVEL LEVEL LEVEL LEVEL LEVEL(1) (2) (3) (4) (5)

WORKERS' COMPENSATION $144,334 $120,209 $126,074 $130,266 $136,420

GENERAL LIABILITY 13,452 12,382 15,702 19,127 25,581

AUTOMOBILE LIABILITY 493 480 795 1,091 1,728

MARINE 1,078 1,046 1,390 1,662 2,241

AVIATION 254 244 324 388 523

PROPERTY 849 833 1,107 1,323 1,784

TOTAL $160,460 $135,194 $145,393 $153,855 $168,278

Notes:

(1) - Per Page 1A, total of Column (7) of each exhibit.

(2), (3), (4) & (5) - Per Page 5A, Column (5) of each exhibit.

AS OF JUNE 30, 2017

DISCOUNTED AT 3%

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SUMMARY EXHIBITPAGE 1B OF 3









AUTOMOBILE LIABILITY 463 450 746 1,022 1,620

MARINE 999 970 1,290 1,541 2,079

AVIATION 362 347 461 551 744

PROPERTY 667 657 873 1,044 1,408

TOTAL $156,876 $131,581 $141,713 $150,185 $158,732

Notes:

(1) - Per Page 1B, total of Column (7) of each exhibit.

(2), (3), (4) & (5) - Per Page 5B, Column (5) of each exhibit.

AS OF JUNE 30, 2018

DISCOUNTED AT 3%

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SUMMARY EXHIBITPAGE 1C OF 3









AUTOMOBILE LIABILITY 439 426 705 967 1,532

MARINE 941 913 1,213 1,450 1,956

AVIATION 432 415 551 658 888

PROPERTY 641 629 837 1,000 1,348

TOTAL $156,855 $131,485 $141,712 $150,293 $159,081

Notes:

(1) - Per Page 1C, total of Column (7) of each exhibit.

(2), (3), (4) & (5) - Per Page 5C, Column (5) of each exhibit.

AS OFJUNE 30, 2019

DISCOUNTED AT 3%



SUMMARY EXHIBITPAGE 1D OF 3










MARINE 971 941 1,252 1,496 2,017

AVIATION 473 454 603 721 972

PROPERTY 683 670 891 1,065 1,436

TOTAL $158,217 $132,730 $143,144 $151,900 $166,921

Notes:

(1) - Per Page 1D, total of Column (7) of each exhibit.

(2), (3), (4) & (5) - Per Page 5D, Column (5) of each exhibit.

AS OFJUNE 30, 2020

DISCOUNTED AT 3%



SUMMARY EXHIBITPAGE 2A OF 3

STATE OF ALASKAACTUARIAL REVIEW OF SELF-INSURANCE PROGRAMRECOMMENDED FUNDING FOR FUTURE ACCIDENTS OCCURRING IN FY 2017/2018


PROJECTED ULTIMATE LOSSES FOR FY 2017/2018






MARINE 776 739 1,017 1,229 1,648

AVIATION 301 283 390 471 631

PROPERTY 799 770 1,060 1,281 1,717

TOTAL $33,777 $29,441 $36,175 $41,171 $50,986

Notes:

(1) - Per Page 6A, Column (4) of Exhibit I, II & III and Page 6, Column (4) of Exhibits IV, V & VI.





AS OF JUNE 30, 2017

DISCOUNTED AT 3%

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SUMMARY EXHIBITPAGE 2B OF 3









MARINE 823 784 1,079 1,304 1,748

AVIATION 305 287 395 477 640

PROPERTY 847 816 1,123 1,357 1,819

TOTAL $34,371 $29,966 $36,834 $41,927 $51,941

Notes:






AS OF JUNE 30, 2017

DISCOUNTED AT 3%



SUMMARY EXHIBITPAGE 2C OF 3









MARINE 873 832 1,145 1,384 1,855

AVIATION 310 292 402 486 651

PROPERTY 898 865 1,191 1,439 1,928

TOTAL $34,980 $30,505 $37,509 $42,708 $52,924

Notes:






AS OF JUNE 30, 2017

DISCOUNTED AT 3%



SUMMARY EXHIBITPAGE 3 OF 3

PROJECTED CASH FLOW FOR FUTURE FISCAL YEARS

COVERAGE

(1) (2) (3)

WORKERS' COMPENSATION $27,662 $29,163 $28,232

GENERAL LIABILITY 3,115 3,430 3,554

AUTOMOBILE LIABILITY 370 369 373

MARINE 855 881 843

AVIATION 193 235 269

PROPERTY 981 873 856

TOTAL $33,176 $34,951 $34,128

Notes:

(1) - (3) - Per Page 8 of Exhibits I - VI.

(AMTS IN THOUSANDS)


PROJECTED CASHFLOWAS OF JUNE 30, 2017

ALL COVERAGES COMBINED

FISCAL YEAR

2017/2018 2018/2019 2019/2020

C:\Users\owner\Dropbox\clientsPtoZ\State of Alaska\2017\ALL_LINES_2017\CASHFLOW10/13/2017 6:20 AM


EXHIBIT IPAGE 1A OF 9

SELECTED PAID TOTAL LOSSREPORT ULTIMATE LOSSES RESERVESYEAR* ILDA PLDA BFILA BFPLA LOSSES @6/30/2017 @6/30/2017

(1) (2) (3) (4) (5) (6) (7)

Prior $4,8951994 $7,996 $8,116 $7,997 $8,114 $8,056 $7,834 2221995 15,195 15,053 15,218 15,053 15,129 13,092 2,0381996 12,496 12,348 12,496 12,348 12,422 11,463 9591997 12,539 12,359 12,537 12,359 12,449 11,106 1,3431998 10,678 10,499 10,676 10,499 10,588 9,758 8301999 14,004 13,736 14,002 13,736 13,869 12,105 1,7652000 17,235 16,930 17,298 16,930 17,098 13,928 3,1712001 20,345 19,877 20,392 19,877 20,123 17,337 2,7862002 21,585 20,986 21,644 20,986 21,300 17,614 3,6862003 20,291 19,623 20,609 20,529 20,263 17,351 2,9122004 21,613 22,579 21,654 22,548 22,098 19,432 2,6672005 23,530 22,205 23,841 22,309 22,971 18,616 4,3562006 21,305 20,762 21,499 21,257 21,206 17,153 4,0522007 24,123 22,431 24,478 23,124 23,539 18,503 5,0362008 20,983 19,829 21,411 20,828 20,763 15,690 5,0732009 20,957 22,142 21,440 22,679 21,804 17,107 4,6982010 32,723 28,757 32,653 28,757 30,722 21,474 9,2482011 31,618 30,789 31,356 29,788 30,888 22,770 8,1182012 27,050 28,244 26,827 27,567 27,422 19,729 7,6932013 34,169 30,009 32,762 28,864 31,451 20,163 11,2882014 31,046 25,994 29,546 25,936 28,131 16,370 11,7602015 25,436 25,635 25,629 25,794 25,624 14,754 10,8702016 25,256 22,226 26,881 24,823 24,796 10,864 13,9322017 27,137 25,747 25,971 24,969 25,956 5,019 20,937

TOTAL $519,310 $496,875 $518,815 $499,671 $508,668 $369,229 $144,334

Notes:(1), (2), (3), & (4) - Ultimate losses calculated from Exhibit I, Pages 2 & 3.(5) = Average of (1), (2), (3) & (4).(6) - Per STATE OF ALASKA(7) = (5) - (6).* All Report Years are 12-month periods ending 6/30 of the stated year.

ALL APPROACHES COMBINEDESTIMATED ULTIMATE LOSSES BY METHOD


CALCULATION OF UNDISCOUNTED LOSS RESERVESAS OF JUNE 30, 2017

WORKERS' COMPENSATION($AMOUNTS IN '000s)

UNLIMITED

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EXHIBIT IPAGE 1B OF 9

ESTIMATEDSELECTED LOSS RESERVES ESTIMATED PAID PAID LOSSES PAID LOSSES ESTIMATED LOSS

REPORT ULTIMATE AS OF LOSSES AS OF AS OF RESERVES AS OFYEAR* LOSSES @6/30/2017 FOR FY2018 @6/30/2017 @6/30/2018 @6/30/2018

(1) (2) (3) (4) (5) (6)

Prior $4,895 $710 $01994 $8,056 222 222 $7,834 $8,056 01995 15,129 2,038 203 13,092 13,295 1,8351996 12,422 959 124 11,463 11,587 8351997 12,449 1,343 167 11,106 11,273 1,1761998 10,588 830 106 9,758 9,864 7241999 13,869 1,765 257 12,105 12,361 1,5082000 17,098 3,171 402 13,928 14,330 2,7682001 20,123 2,786 392 17,337 17,729 2,3942002 21,300 3,686 492 17,614 18,106 3,1942003 20,263 2,912 423 17,351 17,773 2,4902004 22,098 2,667 329 19,432 19,761 2,3382005 22,971 4,356 473 18,616 19,089 3,8822006 21,206 4,052 407 17,153 17,560 3,6462007 23,539 5,036 454 18,503 18,956 4,5832008 20,763 5,073 430 15,690 16,120 4,6432009 21,804 4,698 386 17,107 17,493 4,3122010 30,722 9,248 792 21,474 22,267 8,4562011 30,888 8,118 741 22,770 23,511 7,3772012 27,422 7,693 709 19,729 20,438 6,9842013 31,451 11,288 1,076 20,163 21,238 10,2132014 28,131 11,760 1,174 16,370 17,545 10,5862015 25,624 10,870 1,389 14,754 16,143 9,4812016 24,796 13,932 2,710 10,864 13,574 11,2222017 25,956 20,937 6,313 5,019 11,332 14,6242018 27,618 6,781 6,781 20,837

TOTAL $536,286 $144,334 $27,662 $369,229 $396,181 $140,105

Notes:(1) - For 2017 and prior, ultimate losses based from Exhibit I, Page 1A, Column (5). For 2018, ultimate loss is the projected loss in Exhibit I, Page 6A.(2) - For 2017 and prior, loss reserves based from Exhibit I, Page 1A, Column (7).(3) - From Exhibit I, Page 8.(4) - From Exhibit I, Page 1A. Column (6).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED($AMOUNTS IN '000s)



WORKERS' COMPENSATION

R:\clientsPtoZ\State of Alaska\2017\WC_2017\RSV_210/13/2017 9:52 PM


EXHIBIT IPAGE 1C OF 9

ESTIMATED ESTIMATEDSELECTED LOSS RESERVES ESTIMATED PAID PAID LOSSES PAID LOSSES ESTIMATED LOSS


(1) (2) (3) (4) (5) (6)

Prior $0 $558 $01994 $8,056 0 0 $8,056 $8,056 01995 15,129 1,835 1,835 13,295 15,129 01996 12,422 835 83 11,587 11,670 7521997 12,449 1,176 152 11,273 11,425 1,0241998 10,588 724 90 9,864 9,954 6341999 13,869 1,508 193 12,361 12,554 1,3152000 17,098 2,768 403 14,330 14,733 2,3662001 20,123 2,394 304 17,729 18,032 2,0902002 21,300 3,194 449 18,106 18,555 2,7452003 20,263 2,490 332 17,773 18,106 2,1572004 22,098 2,338 339 19,761 20,100 1,9992005 22,971 3,882 479 19,089 19,568 3,4032006 21,206 3,646 396 17,560 17,956 3,2492007 23,539 4,583 460 18,956 19,416 4,1222008 20,763 4,643 418 16,120 16,538 4,2252009 21,804 4,312 366 17,493 17,858 3,9462010 30,722 8,456 695 22,267 22,961 7,7612011 30,888 7,377 632 23,511 24,143 6,7452012 27,422 6,984 637 20,438 21,075 6,3462013 31,451 10,213 942 21,238 22,180 9,2712014 28,131 10,586 1,009 17,545 18,554 9,5772015 25,624 9,481 947 16,143 17,090 8,5342016 24,796 11,222 1,434 13,574 15,008 9,7882017 25,956 14,624 2,845 11,332 14,177 11,7792018 27,618 20,837 6,283 6,781 13,064 14,5542019 28,033 6,883 6,883 21,150

TOTAL $564,319 $140,105 $29,163 $396,181 $424,786 $139,533

Notes:(1) - For 2018 and prior, ultimate losses based from Exhibit I, Page 1B, Column (1). For 2019, ultimate loss is the projected loss in Exhibit I, Page 6A.(2) - For 2018 and prior, loss reserves based from Exhibit I, Page 1B, Column (6).(3) - From Exhibit I, Page 8.(4) - From Exhibit I, Page 1B. Column (5).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.







EXHIBIT IPAGE 1D OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $510 $01994 $8,056 0 0 $8,056 $8,056 01995 15,129 0 0 15,129 15,129 01996 12,422 752 752 11,670 12,422 01997 12,449 1,024 102 11,425 11,527 9221998 10,588 634 82 9,954 10,036 5521999 13,869 1,315 164 12,554 12,717 1,1522000 17,098 2,366 302 14,733 15,035 2,0642001 20,123 2,090 304 18,032 18,336 1,7862002 21,300 2,745 348 18,555 18,903 2,3972003 20,263 2,157 303 18,106 18,409 1,8542004 22,098 1,999 267 20,100 20,367 1,7322005 22,971 3,403 494 19,568 20,062 2,9102006 21,206 3,249 401 17,956 18,357 2,8492007 23,539 4,122 448 19,416 19,864 3,6752008 20,763 4,225 424 16,538 16,962 3,8002009 21,804 3,946 355 17,858 18,214 3,5912010 30,722 7,761 658 22,961 23,619 7,1032011 30,888 6,745 554 24,143 24,697 6,1912012 27,422 6,346 544 21,075 21,619 5,8032013 31,451 9,271 846 22,180 23,026 8,4252014 28,131 9,577 883 18,554 19,437 8,6942015 25,624 8,534 813 17,090 17,903 7,7212016 24,796 9,788 977 15,008 15,985 8,8112017 25,956 11,779 1,505 14,177 15,682 10,2742018 27,618 14,554 2,831 13,064 15,895 11,7232019 28,033 21,150 6,377 6,883 13,260 14,7732020 28,455 6,987 6,987 21,468

TOTAL $592,774 $139,533 $28,232 $424,786 $452,508 $140,266

Notes:(1) - For 2019 and prior, ultimate losses based from Exhibit I, Page 1C, Column (1). For 2020, ultimate loss is the projected loss in Exhibit I, Page 6A.(2) - For 2019 and prior, loss reserves based from Exhibit I, Page 1C, Column (6).(3) - From Exhibit I, Page 8.(4) - From Exhibit I, Page 1C. Column (5).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.







EXHIBIT IPAGE 2 OF 9

UNLIMITED INCURRED INCURRED LARGE LOSS ULTIMATE ESTIMATEDREPORT LOSSES LOSSES AS OF DEVLPMT INCURRED LOSSYEAR* @6/30/2017 @6/30/2017 FACTORS LOSSES FTE RATE

(1) (1A) (2) (3) (4) (5)

Prior1994 $7,917 1.010 $7,996 N/A1995 15,053 $2,102 1.011 15,195 N/A1996 12,348 1.012 12,496 N/A1997 12,359 1.015 12,539 N/A1998 10,499 1.017 10,678 N/A1999 13,736 1.020 14,004 N/A2000 16,930 3,108 1.022 17,235 N/A2001 19,877 2,035 1.026 20,345 N/A2002 20,986 2,204 1.032 21,585 N/A2003 19,539 2,016 1.043 20,291 16,960 1.1962004 20,417 1.059 21,613 14,579 1.4822005 22,205 4,410 1.074 23,530 15,398 1.5282006 19,516 1.092 21,305 15,397 1.3842007 22,055 3,476 1.111 24,123 15,773 1.5292008 18,508 1.134 20,983 16,050 1.3072009 18,102 1.158 20,957 15,977 1.3122010 28,757 7,136 1.183 32,723 16,386 1.9972011 26,687 4,536 1.223 31,618 16,721 1.8912012 21,313 1.269 27,050 16,951 1.5962013 26,311 2,362 1.328 34,169 17,025 2.0072014 22,104 1.405 31,046 16,848 1.8432015 16,834 1.511 25,436 16,959 1.5002016 15,898 2,685 1.708 25,256 17,272 1.4622017 11,815 27,137 17,242 1.574

TOTAL $439,764 $36,071 $519,310

UNLIMITED PAID PAID LARGE LOSS ULTIMATE ESTIMATEDREPORT LOSSES LOSSES AS OF DEVLPMT INCURRED LOSSYEAR* @6/30/2017 @6/30/2017 FACTORS LOSSES FTE RATE

(6) (6A) (7) (8) (9) (10)

Prior1994 $7,834 1.036 $8,116 N/A1995 13,092 $1,297 1.040 15,053 N/A1996 11,463 1.046 12,348 N/A1997 11,106 1.053 12,359 N/A1998 9,758 1.062 10,499 N/A1999 12,105 1.073 13,736 N/A2000 13,928 2,140 1.084 16,930 N/A2001 17,337 1,012 1.100 19,877 N/A2002 17,614 728 1.117 20,986 N/A2003 17,351 1,031 1.139 19,623 16,960 1.1572004 19,432 1.162 22,579 14,579 1.5492005 18,616 2,756 1.185 22,205 15,398 1.4422006 17,153 1.210 20,762 15,397 1.3482007 18,503 $1,867 1.236 22,431 15,773 1.4222008 15,690 1.264 19,829 16,050 1.2352009 17,107 1.294 22,142 15,977 1.3862010 21,474 1,739 1.331 28,757 16,386 1.7552011 22,770 1,491 1.377 30,789 16,721 1.8412012 19,729 1.432 28,244 16,951 1.6662013 20,163 462 1.500 30,009 17,025 1.7632014 16,370 1.588 25,994 16,848 1.5432015 14,754 1.738 25,635 16,959 1.5122016 10,864 665 2.114 22,226 17,272 1.2872017 5,019 25,747 17,242 1.493

TOTAL $369,229 $15,186 $496,875

Notes:(1), (4), (6) & (9) - Per STATE OF ALASKA. (1A) & (6A) - Incurred and paid losses excluded in the development.(2) & (7) - Per State's historical loss pattern, supplemented by AM Best insurance industry historical loss patterns.(3) = (1) x (2); (8) = (6) x (7). If ultimate incurred losses in (8) are less than the incurred losses in (1), we used

the incurred losses in (1). For the most recent year, we used the Loss Rate Approach.(5) = (3) / (4); (10) = (8) / (9). For the most recent year, it is the average of prior years.* All Report Years are 12-month periods ending 6/30 of the stated year.


INCURRED LOSS DEVELOPMENT APPROACH

PAID LOSS DEVELOPMENT APPROACH


CALCULATION OF ULTIMATE LOSSES - LOSS DEVELOPMENT APPROACHAS OF JUNE 30, 2017

($AMOUNTS IN '000s)UNLIMITED

R:\clientsPtoZ\State of Alaska\2017\WC_2017\LDA10/12/2017 10:50 AM



BORNHUETTER-FERGUSON INCURRED LOSS APPROACHESTIMATED EXPECTED EXPECTED % UNLIMITED INCURRED ULTIMATE

REPORT LOSS ULTIMATE OF LOSSES IBNR LOSSES INCURREDYEAR* RATE FTE LOSSES UNREPORTED RESERVES @6/30/2017 LOSSES

(1) (2) (3) (4) (5) (6) (7)

Prior1994 1.534 N/A $8,056 1.0% $80 $7,917 $7,9971995 1.534 N/A 15,124 1.1% 165 15,053 15,2181996 1.534 N/A 12,422 1.2% 148 12,348 12,4961997 1.534 N/A 12,449 1.4% 178 12,359 12,5371998 1.534 N/A 10,589 1.7% 177 10,499 10,6761999 1.534 N/A 13,870 1.9% 266 13,736 14,0022000 1.534 N/A 17,083 2.2% 368 16,930 17,2982001 1.534 N/A 20,111 2.6% 515 19,877 20,3922002 1.534 N/A 21,285 3.1% 658 20,986 21,6442003 1.534 16,960 26,010 4.1% 1,070 19,539 20,6092004 1.534 14,579 22,358 5.5% 1,237 20,417 21,6542005 1.534 15,398 23,614 6.9% 1,636 22,205 23,8412006 1.534 15,397 23,613 8.4% 1,983 19,516 21,4992007 1.534 15,773 24,189 10.0% 2,423 22,055 24,4782008 1.534 16,050 24,614 11.8% 2,903 18,508 21,4112009 1.534 15,977 24,502 13.6% 3,338 18,102 21,4402010 1.534 16,386 25,130 15.5% 3,896 28,757 32,6532011 1.534 16,721 25,643 18.2% 4,669 26,687 31,3562012 1.534 16,951 25,996 21.2% 5,514 21,313 26,8272013 1.534 17,025 26,110 24.7% 6,451 26,311 32,7622014 1.534 16,848 25,838 28.8% 7,442 22,104 29,5462015 1.534 16,959 26,008 33.8% 8,795 16,834 25,6292016 1.534 17,272 26,488 41.5% 10,983 15,898 26,8812017 1.534 17,242 26,442 53.5% 14,156 11,815 25,971

TOTAL $507,545 $79,051 $439,764 $518,815

ESTIMATED EXPECTED EXPECTED % UNLIMITED PAID ULTIMATEREPORT LOSS ULTIMATE OF LOSSES LOSS LOSSES INCURREDYEAR* RATE FTE LOSSES UNPAID RESERVES @6/30/2017 LOSSES

(8) (9) (10) (11) (12) (13) (14)

Prior1994 1.534 N/A $8,056 3.5% $280 $7,834 $8,1141995 1.534 N/A 15,124 3.9% 584 13,092 15,0531996 1.534 N/A 12,422 4.4% 551 11,463 12,3481997 1.534 N/A 12,449 5.1% 630 11,106 12,3591998 1.534 N/A 10,589 5.8% 615 9,758 10,4991999 1.534 N/A 13,870 6.8% 942 12,105 13,7362000 1.534 N/A 17,083 7.8% 1,329 13,928 16,9302001 1.534 N/A 20,111 9.1% 1,820 17,337 19,8772002 1.534 N/A 21,285 10.4% 2,223 17,614 20,9862003 1.534 16,960 26,010 12.2% 3,178 17,351 20,5292004 1.534 14,579 22,358 13.9% 3,116 19,432 22,5482005 1.534 15,398 23,614 15.6% 3,693 18,616 22,3092006 1.534 15,397 23,613 17.4% 4,104 17,153 21,2572007 1.534 15,773 24,189 19.1% 4,621 18,503 23,1242008 1.534 16,050 24,614 20.9% 5,138 15,690 20,8282009 1.534 15,977 24,502 22.7% 5,572 17,107 22,6792010 1.534 16,386 25,130 24.9% 6,250 21,474 28,7572011 1.534 16,721 25,643 27.4% 7,018 22,770 29,7882012 1.534 16,951 25,996 30.1% 7,838 19,729 27,5672013 1.534 17,025 26,110 33.3% 8,701 20,163 28,8642014 1.534 16,848 25,838 37.0% 9,566 16,370 25,9362015 1.534 16,959 26,008 42.4% 11,040 14,754 25,7942016 1.534 17,272 26,488 52.7% 13,959 10,864 24,8232017 1.534 17,242 26,442 75.4% 19,950 5,019 24,969

TOTAL $507,545 $122,718 $369,229 $499,671

Notes:(1) & (8) - The average of the loss rates of prior years as shown in Columns (5) and (10) of Exhibit I, Page 2.(2) & (9) - Per STATE OF ALASKA.(3) = (1) x (2); (10) = (8) x (9). For 2002 & prior, average of Exhibit I, Columns (5) & (10).(4) = (1 - (1/ILDF)); (11) = (1 - (1/PLDF)).(5) = (3) x (4); (12) = (10) x (11).(6) & (13) - Per STATE OF ALASKA.(7) = (5) + (6); (14) = (12) + (13). If ultimate incurred losses in (14) are less than the incurred losses in (6), we used the incurred losses in (6).* All Report Years are 12-month periods ending 6/30 of the stated year.

BORNHUETTER-FERGUSON PAID LOSS APPROACH


CALCULATION OF ULTIMATE LOSSES - BORNHUETTER-FERGUSON APPROACHAS OF JUNE 30, 2017


UNLIMITED

R:\clientsPtoZ\State of Alaska\2017\WC_2017\BFA10/12/2017 10:50 AM



INCURRED LOSS DEVELOPMENTREPORTYEAR* 12 24 36 48 60 72 84 96 108 120 132 144

1994 5,250 6,756 7,152 7,643 7,564 7,544 7,589 7,301 7,707 7,906 7,683 7,6551995 6,934 9,295 9,612 9,538 10,831 12,311 12,165 12,638 12,816 12,944 13,084 13,6901996 6,081 7,455 7,563 8,214 8,209 9,744 10,341 10,457 10,667 10,766 11,090 11,6821997 5,870 7,173 8,028 8,061 8,367 8,776 9,480 9,700 9,648 10,033 10,124 10,2181998 4,650 5,727 6,428 6,973 7,302 7,349 7,560 7,794 8,096 8,299 8,318 8,5921999 4,066 5,683 7,121 7,574 8,293 8,566 9,493 9,530 9,561 9,862 10,117 10,4312000 6,511 8,170 9,646 10,400 10,761 11,066 11,701 11,673 11,978 12,415 13,459 14,0892001 5,597 10,518 12,522 13,575 13,644 14,211 14,637 15,194 16,616 16,903 17,376 17,4372002 8,290 10,906 12,333 12,885 13,527 14,209 14,535 15,199 16,037 16,429 17,078 17,1702003 7,573 10,859 11,474 12,895 13,172 13,579 14,917 15,303 15,822 16,346 16,794 20,2802004 8,974 11,215 13,530 14,901 15,439 16,146 17,573 18,696 19,346 20,300 20,517 20,9192005 8,105 11,398 13,772 14,334 15,615 16,502 17,070 18,607 18,580 21,553 21,609 22,0932006 6,831 10,232 11,614 12,828 14,165 14,953 15,708 16,901 17,055 17,494 17,413 19,5162007 9,106 11,884 14,159 16,292 16,474 16,996 17,397 19,649 20,101 20,804 22,0552008 8,166 12,016 13,938 14,761 15,590 14,933 15,315 17,971 18,591 18,5082009 9,934 13,895 15,191 15,342 15,731 16,511 18,489 17,916 18,1022010 12,627 16,734 19,814 20,226 23,101 28,601 28,511 28,7572011 13,325 18,976 21,502 25,622 26,014 26,364 26,6872012 12,430 16,218 18,954 19,646 20,194 21,3132013 14,430 20,860 23,768 23,985 26,3112014 16,705 18,755 20,452 22,1042015 12,567 15,341 16,8342016 12,855 15,8982017 11,815

INCURRED LOSS DEVELOPMENT FACTORS12 24 36 48 60 72 84 96 108 120 132 144

REPORT TO TO TO TO TO TO TO TO TO TO TO TOYEAR* 24 36 48 60 72 84 96 108 120 132 144 156

1994 1.287 1.059 1.069 0.990 0.997 1.006 0.962 1.056 1.026 0.972 0.996 1.0031995 1.340 1.034 0.992 1.136 1.137 0.988 1.039 1.014 1.010 1.011 1.046 1.0091996 1.226 1.014 1.086 0.999 1.187 1.061 1.011 1.020 1.009 1.030 1.053 0.9221997 1.222 1.119 1.004 1.038 1.049 1.080 1.023 0.995 1.040 1.009 1.009 1.0541998 1.232 1.122 1.085 1.047 1.006 1.029 1.031 1.039 1.025 1.002 1.033 1.0321999 1.398 1.253 1.064 1.095 1.033 1.108 1.004 1.003 1.031 1.026 1.031 1.0322000 1.255 1.181 1.078 1.035 1.028 1.057 0.998 1.026 1.036 1.084 1.047 1.0232001 1.879 1.191 1.084 1.005 1.042 1.030 1.038 1.094 1.017 1.028 1.004 1.0712002 1.316 1.131 1.045 1.050 1.050 1.023 1.046 1.055 1.024 1.040 1.005 1.1092003 1.434 1.057 1.124 1.021 1.031 1.099 1.026 1.034 1.033 1.027 1.208 0.9572004 1.250 1.206 1.101 1.036 1.046 1.088 1.064 1.035 1.049 1.011 1.020 0.9722005 1.406 1.208 1.041 1.089 1.057 1.034 1.090 0.999 1.160 1.003 1.022 1.0052006 1.498 1.135 1.105 1.104 1.056 1.050 1.076 1.009 1.026 0.995 1.1212007 1.305 1.191 1.151 1.011 1.032 1.024 1.129 1.023 1.035 1.0602008 1.471 1.160 1.059 1.056 0.958 1.026 1.173 1.035 0.9962009 1.399 1.093 1.010 1.025 1.050 1.120 0.969 1.0102010 1.325 1.184 1.021 1.142 1.238 0.997 1.0092011 1.424 1.133 1.192 1.015 1.013 1.0122012 1.305 1.169 1.037 1.028 1.0552013 1.446 1.139 1.009 1.0972014 1.123 1.090 1.0812015 1.221 1.0972016 1.237

10 YR AVG. 1.326 1.139 1.071 1.060 1.054 1.047 1.062 1.032 1.041 1.028 1.050 1.0183 YR AVG. 1.194 1.109 1.042 1.047 1.102 1.043 1.050 1.023 1.019 1.019 1.054 0.978

10 YR AVG EXCL HI LO 1.333 1.139 1.063 1.056 1.043 1.045 1.060 1.028 1.031 1.025 1.036 1.0185 YR AVG EXCL HI LO 1.254 1.123 1.046 1.050 1.039 1.021 1.071 1.014 1.037 1.014 1.054 1.016

PRIOR SELECTED (MADISON) 1.258 1.131 1.078 1.058 1.045 1.038 1.030 1.022 1.020 1.020 1.020 1.017SELECTED 1.260 1.131 1.076 1.058 1.046 1.038 1.033 1.022 1.021 1.020 1.018 1.016

CUMULATIVE 2.152 1.708 1.511 1.405 1.328 1.269 1.223 1.183 1.158 1.134 1.111 1.092

* All Report Years are 12-month periods ending 6/30 of the stated year.

DEVELOPMENT MONTHS


AS OF JUNE 30, 2017CALCULATION OF THE INCURRED LOSS DEVELOPMENT FACTORS


UNLIMITED

R:\clientsPtoZ\State of Alaska\2017\WC_2017/TRI_INC10/12/2017 10:50 AM




1994 7,680 7,707 7,663 7,836 7,709 7,670 7,697 9,576 8,010 7,905 7,930 7,9171995 13,820 13,793 13,835 14,151 14,432 14,435 14,274 14,967 14,915 14,989 15,0531996 10,766 11,050 11,023 11,092 11,103 11,367 11,728 11,814 11,706 12,3481997 10,772 11,200 11,449 11,525 11,868 13,623 13,267 13,492 12,3591998 8,868 8,945 9,199 9,254 9,970 10,491 10,561 10,4991999 10,770 11,469 11,982 13,588 13,590 13,533 13,7362000 14,413 14,494 16,577 16,433 16,794 16,9302001 18,670 18,903 19,201 18,993 19,8772002 19,037 19,679 20,268 20,9862003 19,414 19,387 19,5392004 20,324 20,4172005 22,205200620072008200920102011201220132014201520162017


REPORT TO TO TO TO TO TO TO TO TO TO TO TOYEAR* 168 180 192 204 216 228 240 252 264 276 288 ULT

1994 1.004 0.994 1.023 0.984 0.995 1.004 1.244 0.836 0.987 1.003 0.9981995 0.998 1.003 1.023 1.020 1.000 0.989 1.049 0.997 1.005 1.0041996 1.026 0.998 1.006 1.001 1.024 1.032 1.007 0.991 1.0551997 1.040 1.022 1.007 1.030 1.148 0.974 1.017 0.9161998 1.009 1.028 1.006 1.077 1.052 1.007 0.9941999 1.065 1.045 1.134 1.000 0.996 1.0152000 1.006 1.144 0.991 1.022 1.0082001 1.012 1.016 0.989 1.0472002 1.034 1.030 1.0352003 0.999 1.0082004 1.005200520062007200820092010201120122013201420152016

10 YR AVG. 1.019 1.0293 YR AVG. 1.013 1.018 1.005 1.023 1.019 0.999 1.006 0.968 1.016

10 YR AVG EXCL HI LO 1.016 1.0195 YR AVG EXCL HI LO 1.008 1.030 1.011 1.033 1.028 1.004 1.024

PRIOR SELECTED (MADISON) 1.015 1.015 1.005 1.003 1.002 1.002 1.002 1.002 1.001 1.001 1.001SELECTED 1.015 1.015 1.011 1.006 1.004 1.002 1.002 1.002 1.002 1.001 1.001

CUMULATIVE 1.074 1.059 1.043 1.032 1.026 1.022 1.020 1.017 1.015 1.012 1.011 1.010


DEVELOPMENT MONTHS




UNLIMITED

R:\clientsPtoZ\State of Alaska\2017\WC_2017/TRI_INC_210/12/2017 10:50 AM



PAID LOSS DEVELOPMENTREPORTYEAR* 12 24 36 48 60 72 84 96 108 120 132 144

1994 1,958 4,264 5,509 6,284 6,620 6,807 6,941 6,974 7,003 7,115 7,302 7,4211995 2,113 5,682 7,068 7,821 8,281 8,545 8,749 9,145 9,469 9,757 10,016 10,2771996 2,258 4,925 6,460 7,332 7,965 8,373 8,935 9,119 9,431 9,591 9,755 10,1451997 2,498 4,728 5,927 6,527 6,960 7,408 7,675 8,003 8,445 8,649 8,852 8,9801998 2,367 4,961 6,077 6,583 6,862 7,071 7,313 7,535 7,725 7,985 8,083 8,3771999 2,250 4,346 5,728 6,822 7,410 7,833 8,300 8,570 8,819 9,304 9,548 9,8812000 2,782 5,226 6,794 7,778 8,534 8,981 9,523 9,896 10,385 10,768 11,145 11,4892001 3,101 7,538 9,740 11,391 12,383 13,113 13,692 14,066 14,929 15,080 15,407 15,7472002 3,961 7,113 9,739 11,209 12,177 13,106 13,558 14,280 14,676 15,276 15,839 16,2212003 3,522 7,945 10,254 11,582 12,269 12,916 13,773 14,365 14,955 15,614 16,062 16,5752004 4,254 9,144 11,649 13,517 14,581 15,474 16,280 16,894 17,345 17,817 18,284 18,6512005 4,608 9,097 11,690 13,408 14,693 15,313 15,714 16,949 17,485 17,893 18,103 18,3412006 3,873 7,906 10,103 11,629 12,476 13,346 14,345 15,309 15,835 16,210 16,695 17,1532007 4,488 9,766 12,577 14,505 15,382 16,199 16,687 17,167 17,582 18,006 18,5032008 4,302 8,566 10,932 12,378 13,357 14,142 14,627 15,105 15,473 15,6902009 5,152 10,357 12,693 14,069 14,750 15,406 16,110 16,551 17,1072010 7,496 13,394 16,438 18,040 19,414 20,262 21,046 21,4742011 7,486 14,837 18,395 20,295 21,404 22,338 22,7702012 7,401 13,361 16,550 18,036 18,877 19,7292013 7,772 14,972 17,973 19,522 20,1632014 6,814 12,284 14,870 16,3702015 6,005 12,374 14,7542016 5,452 10,8642017 5,019

PAID LOSS DEVELOPMENT FACTORS12 24 36 48 60 72 84 96 108 120 132 144


1994 2.178 1.292 1.141 1.053 1.028 1.020 1.005 1.004 1.016 1.026 1.016 1.0061995 2.689 1.244 1.107 1.059 1.032 1.024 1.045 1.035 1.030 1.027 1.026 1.0301996 2.181 1.312 1.135 1.086 1.051 1.067 1.021 1.034 1.017 1.017 1.040 1.0231997 1.893 1.254 1.101 1.066 1.064 1.036 1.043 1.055 1.024 1.023 1.014 1.0451998 2.096 1.225 1.083 1.042 1.030 1.034 1.030 1.025 1.034 1.012 1.036 1.0291999 1.932 1.318 1.191 1.086 1.057 1.060 1.033 1.029 1.055 1.026 1.035 1.0292000 1.879 1.300 1.145 1.097 1.052 1.060 1.039 1.049 1.037 1.035 1.031 1.0252001 2.431 1.292 1.170 1.087 1.059 1.044 1.027 1.061 1.010 1.022 1.022 1.0262002 1.796 1.369 1.151 1.086 1.076 1.034 1.053 1.028 1.041 1.037 1.024 1.0232003 2.256 1.291 1.130 1.059 1.053 1.066 1.043 1.041 1.044 1.029 1.032 1.0102004 2.150 1.274 1.160 1.079 1.061 1.052 1.038 1.027 1.027 1.026 1.020 1.0282005 1.974 1.285 1.147 1.096 1.042 1.026 1.079 1.032 1.023 1.012 1.013 1.0152006 2.041 1.278 1.151 1.073 1.070 1.075 1.067 1.034 1.024 1.030 1.0272007 2.176 1.288 1.153 1.060 1.053 1.030 1.029 1.024 1.024 1.0282008 1.991 1.276 1.132 1.079 1.059 1.034 1.033 1.024 1.0142009 2.010 1.226 1.108 1.048 1.044 1.046 1.027 1.0342010 1.787 1.227 1.097 1.076 1.044 1.039 1.0202011 1.982 1.240 1.103 1.055 1.044 1.0192012 1.805 1.239 1.090 1.047 1.0452013 1.926 1.200 1.086 1.0332014 1.803 1.211 1.1012015 2.061 1.1922016 1.993

10 YR AVG. 1.953 1.238 1.117 1.065 1.052 1.042 1.042 1.035 1.030 1.026 1.025 1.0253 YR AVG. 1.952 1.201 1.092 1.045 1.044 1.035 1.027 1.027 1.021 1.023 1.020 1.018

10 YR AVG EXCL HI LO 1.946 1.237 1.116 1.065 1.050 1.041 1.040 1.034 1.029 1.026 1.026 1.0255 YR AVG EXCL HI LO 1.908 1.217 1.096 1.050 1.044 1.034 1.030 1.030 1.024 1.028 1.024 1.021


CUMULATIVE 4.073 2.114 1.738 1.588 1.500 1.432 1.377 1.331 1.294 1.264 1.236 1.210


UNLIMITED

DEVELOPMENT MONTHS


AS OF JUNE 30, 2017CALCULATION OF THE PAID LOSS DEVELOPMENT FACTORS


R:\clientsPtoZ\State of Alaska\2017\WC_2017/TRI_PAID10/12/2017 10:50 AM




1994 7,463 7,514 7,456 7,639 7,551 7,572 7,630 7,693 7,752 7,787 7,841 7,8341995 10,589 10,881 11,142 11,464 11,751 12,033 12,243 12,438 12,658 12,894 13,0921996 10,378 10,746 10,623 10,700 10,808 10,887 11,088 11,232 11,316 11,4631997 9,385 9,438 9,605 9,822 10,047 10,356 10,674 10,870 11,1061998 8,618 8,771 8,944 9,033 9,248 9,490 9,586 9,7581999 10,168 10,748 11,234 11,577 11,774 11,947 12,1052000 11,775 12,266 12,611 13,005 13,385 13,9282001 16,160 16,553 16,836 17,097 17,3372002 16,596 16,911 17,285 17,6142003 16,738 16,990 17,3512004 19,170 19,4322005 18,616200620072008200920102011201220132014201520162017



1994 1.007 0.992 1.025 0.988 1.003 1.008 1.008 1.008 1.005 1.007 0.9991995 1.028 1.024 1.029 1.025 1.024 1.017 1.016 1.018 1.019 1.0151996 1.035 0.989 1.007 1.010 1.007 1.018 1.013 1.007 1.0131997 1.006 1.018 1.023 1.023 1.031 1.031 1.018 1.0221998 1.018 1.020 1.010 1.024 1.026 1.010 1.0181999 1.057 1.045 1.031 1.017 1.015 1.0132000 1.042 1.028 1.031 1.029 1.0412001 1.024 1.017 1.016 1.0142002 1.019 1.022 1.0192003 1.015 1.0212004 1.014200520062007200820092010201120122013201420152016

10 YR AVG. 1.026 1.0183 YR AVG. 1.016 1.020 1.022 1.020 1.027 1.018 1.016 1.016 1.012

10 YR AVG EXCL HI LO 1.024 1.0185 YR AVG EXCL HI LO 1.019 1.024 1.022 1.021 1.024 1.016 1.016

PRIOR SELECTED (MADISON) 1.020 1.020 1.020 1.015 1.015 1.010 1.010 1.007 1.006 1.006 1.004SELECTED 1.020 1.020 1.020 1.016 1.014 1.011 1.011 1.008 1.007 1.006 1.004

CUMULATIVE 1.185 1.162 1.139 1.117 1.100 1.084 1.073 1.062 1.053 1.046 1.040 1.036



DEVELOPMENT MONTHS




R:\clientsPtoZ\State of Alaska\2017\WC_2017/TRI_PAID_210/12/2017 10:50 AM


EXHIBIT IPAGE 4E OF 9

REPORTED CLAIM COUNT DEVELOPMENTREPORTYEAR* 12 24 36 48 60 72 84 96 108 120 132 144

1994 1,021 1,166 1,177 1,177 1,177 1,178 1,178 1,178 1,178 1,178 1,178 1,1781995 1,042 1,328 1,335 1,338 1,341 1,341 1,341 1,341 1,343 1,343 1,343 1,3431996 1,059 1,246 1,252 1,253 1,252 1,253 1,253 1,252 1,252 1,252 1,252 1,2521997 1,097 1,247 1,255 1,255 1,256 1,259 1,257 1,257 1,257 1,257 1,257 1,2561998 1,086 1,195 1,197 1,198 1,199 1,198 1,198 1,198 1,198 1,198 1,198 1,1981999 1,063 1,095 1,105 1,108 1,103 1,103 1,104 1,105 1,105 1,105 1,105 1,1052000 983 1,069 1,081 1,075 1,075 1,076 1,076 1,076 1,076 1,076 1,076 1,0762001 1,270 1,418 1,134 1,137 1,139 1,139 1,141 1,141 1,141 1,141 1,141 1,1412002 1,513 1,141 1,147 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,150 1,1492003 1,160 1,235 1,237 1,238 1,241 1,242 1,243 1,242 1,242 1,242 1,242 1,2432004 1,323 1,427 1,429 1,432 1,432 1,432 1,430 1,430 1,431 1,432 1,434 1,4342005 1,358 1,402 1,408 1,411 1,411 1,411 1,411 1,411 1,409 1,411 1,411 1,4112006 1,167 1,264 1,272 1,273 1,273 1,273 1,274 1,274 1,276 1,276 1,276 1,2762007 1,116 1,201 1,208 1,208 1,211 1,212 1,212 1,212 1,212 1,213 1,2132008 1,032 1,109 1,111 1,114 1,114 1,114 1,114 1,114 1,114 1,1152009 1,108 1,208 1,215 1,218 1,218 1,218 1,218 1,219 1,2192010 1,157 1,230 1,236 1,236 1,238 1,238 1,238 1,2382011 1,145 1,235 1,241 1,241 1,241 1,241 1,2412012 1,180 1,260 1,264 1,264 1,265 1,2682013 1,127 1,170 1,173 1,176 1,1772014 1,109 1,164 1,170 1,1702015 1,022 1,066 1,0702016 914 9882017 881

CLAIM COUNT DEVELOPMENT FACTORS12 24 36 48 60 72 84 96 108 120 132 144


1994 1.142 1.009 1.000 1.000 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.0001995 1.274 1.005 1.002 1.002 1.000 1.000 1.000 1.001 1.000 1.000 1.000 1.0001996 1.177 1.005 1.001 0.999 1.001 1.000 0.999 1.000 1.000 1.000 1.000 1.0011997 1.137 1.006 1.000 1.001 1.002 0.998 1.000 1.000 1.000 1.000 0.999 1.0011998 1.100 1.002 1.001 1.001 0.999 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.030 1.009 1.003 0.995 1.000 1.001 1.001 1.000 1.000 1.000 1.000 1.0002000 1.087 1.011 0.994 1.000 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.0012001 1.117 0.800 1.003 1.002 1.000 1.002 1.000 1.000 1.000 1.000 1.000 1.0002002 0.754 1.005 1.002 1.000 1.000 1.000 1.000 1.000 1.000 1.001 0.999 1.0012003 1.065 1.002 1.001 1.002 1.001 1.001 0.999 1.000 1.000 1.000 1.001 1.0002004 1.079 1.001 1.002 1.000 1.000 0.999 1.000 1.001 1.001 1.001 1.000 1.0002005 1.032 1.004 1.002 1.000 1.000 1.000 1.000 0.999 1.001 1.000 1.000 1.0002006 1.083 1.006 1.001 1.000 1.000 1.001 1.000 1.002 1.000 1.000 1.0002007 1.076 1.006 1.000 1.002 1.001 1.000 1.000 1.000 1.001 1.0002008 1.075 1.002 1.003 1.000 1.000 1.000 1.000 1.000 1.0012009 1.090 1.006 1.002 1.000 1.000 1.000 1.001 1.0002010 1.063 1.005 1.000 1.002 1.000 1.000 1.0002011 1.079 1.005 1.000 1.000 1.000 1.0002012 1.068 1.003 1.000 1.001 1.0022013 1.038 1.003 1.003 1.0012014 1.050 1.005 1.0002015 1.043 1.0042016 1.081

AVERAGE 1.076 0.996 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.058 1.004 1.001 1.001 1.001 1.000 1.000 1.000 1.001 1.000 1.000 1.000

EXCL HI LO 1.082 1.005 1.001 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0005 YR AVG EXCL HI LO 1.054 1.004 1.000 1.001 1.000 1.000 1.000 1.000 1.001 1.000 1.000 1.000


CUMULATIVE 1.071 1.003 1.001 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS


AS OF JUNE 30, 2017CALCULATION OF CLAIM COUNT DEVELOPMENT FACTORS


R:\clientsPtoZ\State of Alaska\2017\WC_2017/TRI_COUNT10/12/2017 10:50 AM


EXHIBIT IPAGE 4F OF 9


1994 1,178 1,178 1,178 1,178 1,178 1,178 1,179 1,179 1,179 1,179 1,179 1,1791995 1,343 1,343 1,343 1,343 1,343 1,344 1,344 1,344 1,344 1,344 1,3461996 1,253 1,253 1,253 1,253 1,253 1,255 1,255 1,255 1,255 1,2551997 1,257 1,257 1,257 1,257 1,257 1,258 1,258 1,258 1,2581998 1,198 1,198 1,199 1,199 1,199 1,199 1,199 1,1991999 1,105 1,105 1,105 1,105 1,105 1,105 1,1052000 1,077 1,077 1,077 1,077 1,077 1,0772001 1,141 1,141 1,141 1,141 1,1412002 1,150 1,150 1,150 1,1502003 1,243 1,243 1,2432004 1,434 1,4342005 1,411200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.001 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 1.000 1.000 1.001 1.000 1.000 1.000 1.000 1.0011996 1.000 1.000 1.000 1.000 1.002 1.000 1.000 1.000 1.0001997 1.000 1.000 1.000 1.000 1.001 1.000 1.000 1.0001998 1.000 1.001 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.000 1.000 1.000 1.001 1.000 1.000 1.000 1.000 1.001 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000

EXCL HI LO 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0005 YR AVG EXCL HI LO 1.000 1.000 1.000 1.000 1.000 1.000 1.000

PRIOR SELECTED (MADISON) 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000SELECTED 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000

CUMULATIVE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS




R:\clientsPtoZ\State of Alaska\2017\WC_2017/TRI_COUNT_210/12/2017 10:50 AM




AS OF JUNE 30, 2017CALCULATION OF DISCOUNTED RESERVES


TOTAL FUTUREREPORT TOTAL DISCOUNT DISCOUNTED INVESTMENTYEAR* RESERVES FACTORS RESERVES INCOME

(1) (2) (3) (4)

Prior $4,895 1.000 $4,895 $01994 222 0.985 219 31995 2,038 0.959 1,955 831996 959 0.939 900 591997 1,343 0.920 1,236 1071998 830 0.905 752 791999 1,765 0.894 1,578 1862000 3,171 0.883 2,800 3702001 2,786 0.875 2,439 3472002 3,686 0.868 3,200 4862003 2,912 0.863 2,514 3982004 2,667 0.856 2,284 3832005 4,356 0.848 3,694 6612006 4,052 0.840 3,403 6492007 5,036 0.831 4,183 8532008 5,073 0.822 4,168 9052009 4,698 0.813 3,820 8782010 9,248 0.806 7,455 1,7932011 8,118 0.801 6,504 1,6142012 7,693 0.797 6,131 1,5622013 11,288 0.794 8,962 2,3262014 11,760 0.792 9,317 2,4432015 10,870 0.797 8,661 2,2092016 13,932 0.815 11,352 2,5812017 20,937 0.850 17,788 3,149

TOTAL $144,334 $120,209 $24,124

ESTIMATING DISCOUNTED RESERVES AT VARIOUS CONFIDENCE LEVELS

CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit I, Page 1A, Column (7).(2) - Per AMI calculations, see Appendix A, Page 1.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.


DISCOUNTED RESERVES(5)

$120,209126,074

136,420130,266

R:\clientsPtoZ\State of Alaska\2017\WC_2017\DISC_RSV_110/12/2017 10:50 AM




CALCULATION OF DISCOUNTED RESERVESWORKERS' COMPENSATION


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 1,835 0.985 1,808 271996 835 0.959 801 341997 1,176 0.939 1,104 721998 724 0.920 667 581999 1,508 0.905 1,365 1432000 2,768 0.894 2,476 2922001 2,394 0.883 2,114 2802002 3,194 0.875 2,796 3982003 2,490 0.868 2,161 3292004 2,338 0.863 2,019 3192005 3,882 0.856 3,325 5572006 3,646 0.848 3,092 5532007 4,583 0.840 3,848 7342008 4,643 0.831 3,856 7862009 4,312 0.822 3,542 7692010 8,456 0.813 6,875 1,5812011 7,377 0.806 5,947 1,4302012 6,984 0.801 5,595 1,3882013 10,213 0.797 8,139 2,0732014 10,586 0.794 8,404 2,1812015 9,481 0.792 7,511 1,9702016 11,222 0.797 8,942 2,2812017 14,624 0.815 11,915 2,7092018 20,837 0.850 17,703 3,134

TOTAL $140,105 $116,006 $24,099


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit I, Page 1B, Column (6).(2) - Per AMI calculations, see Appendix A, Page 1.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.


AS OF JUNE 30, 2018


$116,006121,666125,711131,650







(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 752 0.985 741 111997 1,024 0.959 982 411998 634 0.939 595 391999 1,315 0.920 1,211 1052000 2,366 0.905 2,142 2242001 2,090 0.894 1,870 2212002 2,745 0.883 2,424 3212003 2,157 0.875 1,889 2692004 1,999 0.868 1,735 2642005 3,403 0.863 2,939 4652006 3,249 0.856 2,783 4672007 4,122 0.848 3,497 6262008 4,225 0.840 3,548 6772009 3,946 0.831 3,278 6682010 7,761 0.822 6,376 1,3852011 6,745 0.813 5,484 1,2612012 6,346 0.806 5,116 1,2302013 9,271 0.801 7,428 1,8432014 9,577 0.797 7,633 1,9442015 8,534 0.794 6,775 1,7592016 9,788 0.792 7,755 2,0342017 11,779 0.797 9,385 2,3942018 14,554 0.815 11,858 2,6962019 21,150 0.850 17,969 3,181

TOTAL $139,533 $115,411 $24,123


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit I, Page 1C, Column (6).(2) - Per AMI calculations, see Appendix A, Page 1.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.


AS OF JUNE 30, 2019


$115,411121,041125,066130,974







(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 922 0.985 908 141998 552 0.959 530 221999 1,152 0.939 1,081 712000 2,064 0.920 1,899 1642001 1,786 0.905 1,617 1692002 2,397 0.894 2,144 2532003 1,854 0.883 1,637 2172004 1,732 0.875 1,516 2162005 2,910 0.868 2,526 3842006 2,849 0.863 2,460 3892007 3,675 0.856 3,147 5282008 3,800 0.848 3,223 5772009 3,591 0.840 3,015 5752010 7,103 0.831 5,900 1,2032011 6,191 0.822 5,086 1,1052012 5,803 0.813 4,718 1,0852013 8,425 0.806 6,792 1,6332014 8,694 0.801 6,965 1,7282015 7,721 0.797 6,153 1,5672016 8,811 0.794 6,995 1,8162017 10,274 0.792 8,139 2,1352018 11,723 0.797 9,340 2,3822019 14,773 0.815 12,036 2,7362020 21,468 0.850 18,240 3,228

TOTAL $140,266 $116,068 $24,198


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit I, Page 1D, Column (6).(2) - Per AMI calculations, see Appendix A, Page 1.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.


AS OF JUNE 30, 2020


$116,068121,731125,779131,721




PROJECTED ULTIMATE LOSSESSELECTED

REPORT ULTIMATE LOSSYEAR* LOSSES FTE RATE

(1) (2) (3)

Prior1994 $8,056 N/A1995 15,129 N/A1996 12,422 N/A1997 12,449 N/A1998 10,588 N/A1999 13,869 N/A2000 17,098 N/A2001 20,123 N/A2002 21,300 N/A2003 20,263 16,960 1.1952004 22,098 14,579 1.5162005 22,971 15,398 1.4922006 21,206 15,397 1.3772007 23,539 15,773 1.4922008 20,763 16,050 1.2942009 21,804 15,977 1.3652010 30,722 16,386 1.8752011 30,888 16,721 1.8472012 27,422 16,951 1.6182013 31,451 17,025 1.8472014 28,131 16,848 1.6702015 25,624 16,959 1.5112016 24,796 17,272 1.4362017 25,956 17,242 1.505

(PROJ.) 2017/2018 $27,618 17,328 1.594(PROJ.) 2018/2019 28,033 17,415 1.610(PROJ.) 2019/2020 28,455 17,502 1.626

DISCOUNTED FUNDING REQUIREMENTS FOR PROSPECTIVE YEARS DISCOUNTED FUTURE

REPORT PROJECTED DISCOUNT PROJECTED INVESTMENTYEAR* LOSSES FACTORS LOSSES INCOME

(4) (5) (6) (7)

2018 $27,618 0.864 $23,869 $3,7492019 28,033 0.864 24,228 3,8052020 28,455 0.864 24,593 3,862

DISCOUNTED FUNDING REQUIREMENTS AT VARIOUS CONFIDENCE LEVELS

REPORT EXPECTED 75% 85% 95%YEAR* LEVEL LEVEL LEVEL LEVEL

(8) (9) (10) (11)

2018 $23,869 $28,477 $31,452 $36,9692019 24,228 28,906 31,925 37,5252020 24,593 29,341 32,406 38,090

Notes:(1) - Per Exhibit I, Page 1A, Column (5). For projected years, (1) = (2) x (3).(2) - Per STATE OF ALASKA.(3) = (1) / (2). For the projected years, it is the trended average of prior years(4) = (1); (5) - Per Appendix A, Page 1, Column (7).(6) = (4) x (5); (7)= (4) - (6).(8) = (6).(9) to (11) - Based on Monte Carlo Simulation.* All Report Years are 12-month periods ending 6/30 of the stated year.



AS OF JUNE 30, 2017CALCULATION OF PROJECTED LOSSES


R:\clientsPtoZ\State of Alaska\2017\WC_2017\PROJ_UNLIM10/12/2017 10:50 AM






FUNDING REQUIREMENTS FOR PROSPECTIVE YEARS LIMITED TO $1MM RETENTION PROJECTED EXPECTED FUNDING

REPORT UNLIMITED RETENTION AMOUNT ATYEAR* LOSSES FACTORS RETENTION LIMIT

(1) (2) (3)

2018 $27,618 0.830 $22,9232019 28,033 0.830 23,2672020 28,455 0.830 23,618

Notes:(1) - Per Exhibit I, Page 6A, Column (4).(2) - Based on industry increased limits factors for the STATE OF ALASKA.(3) = (1) * (2)* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)LOSSES LIMITED TO $1MM RETENTION

R:\clientsPtoZ\State of Alaska\2017\WC_2017\PROJ_LIM10/12/2017 10:50 AM



NUMBER OF AVERAGECLAIMS ULTIMATE CLAIMS PER CLAIM

REPORT REPORTED DEVELOPMENT CLAIM ULTIMATE 1,000 FTE (SEVERITY)YEAR* @6/30/2017 FACTORS COUNT LOSSES FTE (FREQUENCY) (WHOLE DOLLARS)

(1) (2) (3) (4) (5) (6) (7)

1994 1,179 1.000 1,179 $8,056 N/A $6,8331995 1,346 1.000 1,346 15,129 N/A 11,2401996 1,255 1.000 1,255 12,422 N/A 9,8981997 1,258 1.000 1,258 12,449 N/A 9,8961998 1,199 1.000 1,199 10,588 N/A 8,8311999 1,105 1.000 1,105 13,869 N/A 12,5512000 1,077 1.000 1,077 17,098 N/A 15,8762001 1,141 1.000 1,141 20,123 N/A 17,6362002 1,150 1.000 1,150 21,300 N/A 18,5222003 1,243 1.000 1,243 20,263 16,960 73 16,3022004 1,434 1.000 1,434 22,098 14,579 98 15,4102005 1,411 1.000 1,411 22,971 15,398 92 16,2802006 1,276 1.000 1,276 21,206 15,397 83 16,6192007 1,213 1.000 1,213 23,539 15,773 77 19,4062008 1,115 1.000 1,115 20,763 16,050 69 18,6212009 1,219 1.000 1,219 21,804 15,977 76 17,8872010 1,238 1.000 1,238 30,722 16,386 76 24,8162011 1,241 1.000 1,241 30,888 16,721 74 24,8892012 1,268 1.000 1,268 27,422 16,951 75 21,6262013 1,177 1.000 1,177 31,451 17,025 69 26,7202014 1,170 1.001 1,171 28,131 16,848 69 24,0282015 1,070 1.001 1,072 25,624 16,959 63 23,9132016 988 1.003 991 24,796 17,272 57 25,0102017 881 1.071 944 25,956 17,242 55 27,510

TOTAL 28,654 28,722 $508,668

Notes:(1) & (5) - Per STATE OF ALASKA.(2) - Per STATE OF ALASKA's historical loss patterns. (3) = (1) x (2). (4) = Exhibit I, Page 1A, Column (5).(6) = [(3) / [(5) / 1000]] ; (7) = [(3) / (4)] x 1000.* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED


CALCULATION OF ULTIMATE CLAIM FREQUENCY AND ULTIMATE CLAIM SEVERITYAS OF JUNE 30, 2017


R:\clientsPtoZ\State of Alaska\2017\WC_2017\LDA_COUNT10/12/2017 10:50 AM



1 2 3 4 5 6 7 8 9 1024.6% 47.3% 57.6% 63.0% 66.7% 69.9% 72.6% 75.1% 77.3% 79.1%24.6% 22.7% 10.3% 5.4% 3.7% 3.2% 2.8% 2.5% 2.1% 1.9%

30.2% 13.6% 7.2% 4.9% 4.2% 3.7% 3.3% 2.8% 2.5%24.6% 22.7% 10.3% 5.4% 3.7% 3.2% 2.8% 2.5% 2.1% 1.9%

ESTIMATED ESTIMATEDREPORT ULTIMATE UNPAID 2027YEAR* LOSS 6/30/2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 & SUBSEQUENT

Prior $4,895 $710 $558 $510 $395 $396 $297 $252 $230 $154 $1,3921994 $8,056 222 222 0 0 0 0 0 0 0 0 01995 15,129 2,038 203 1,835 0 0 0 0 0 0 0 01996 12,422 959 124 83 752 0 0 0 0 0 0 01997 12,449 1,343 167 152 102 922 0 0 0 0 0 01998 10,588 830 106 90 82 55 497 0 0 0 0 01999 13,869 1,765 257 193 164 149 100 903 0 0 0 02000 17,098 3,171 402 403 302 257 234 157 1,416 0 0 02001 20,123 2,786 392 304 304 228 194 176 118 1,069 0 02002 21,300 3,686 492 449 348 349 261 222 202 136 1,226 02003 20,263 2,912 423 332 303 235 235 177 150 137 92 8282004 22,098 2,667 329 339 267 244 189 189 142 120 110 7382005 22,971 4,356 473 479 494 388 355 275 275 206 175 1,2352006 21,206 4,052 407 396 401 413 325 297 230 230 173 1,1802007 23,539 5,036 454 460 448 453 467 368 336 260 260 1,5302008 20,763 5,073 430 418 424 413 418 431 339 309 240 1,6512009 21,804 4,698 386 366 355 361 351 355 366 288 263 1,6072010 30,722 9,248 792 695 658 640 649 632 639 659 518 3,3662011 30,888 8,118 741 632 554 525 510 518 504 510 526 3,0982012 27,422 7,693 709 637 544 477 452 439 445 433 439 3,1182013 31,451 11,288 1,076 942 846 722 633 600 583 591 575 4,7212014 28,131 11,760 1,174 1,009 883 793 677 594 562 547 554 4,9672015 25,624 10,870 1,389 947 813 712 640 546 479 453 441 4,4512016 24,796 13,932 2,710 1,434 977 840 735 660 563 494 468 5,0512017 25,956 20,937 6,313 2,845 1,505 1,026 881 771 693 591 519 5,7922018 27,618 6,781 6,283 2,831 1,498 1,021 877 768 690 588 6,2812019 28,033 6,883 6,377 2,874 1,520 1,036 890 779 700 6,9722020 28,455 6,987 6,473 2,917 1,543 1,052 904 791 7,788

TOTAL $592,774 $144,334 $27,662 $29,163 $28,232 $21,441 $14,657 $12,062 $11,006 $9,638 $8,813 $65,766

Notes:* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

ESTIMATED FUTURE PAYMENTS FOR FISCAL YEAR ENDING

YEARCUMULATIVE LOSS PAYOUT PATTERN

INCREMENTAL LOSS PAYOUT PATTERNPAYOUT AS PERCENTAGE OF UNPAID AT 6/30/2017

PAYOUT AS PERCENTAGE OF ULTIMATE LOSS

UNLIMITED


CALCULATION OF PAID LOSS CASH FLOWAS OF JUNE 30, 2017


R:\clientsPtoZ\State of Alaska\2017\WC_2017\CASHFLOW_DISC10/12/2017 10:54 AM



$0.01 $5,000 $10,000 $25,000 $50,000 $100,000 $250,000 $500,000 $750,000REPORT TO TO TO TO TO TO TO TO TO OVERYEAR* $0 $5,000 $10,000 $25,000 $50,000 $100,000 $250,000 $500,000 $750,000 $1,000,000 $1,000,000 TOTAL

Prior 7,119 23,837 1,567 1,512 960 641 454 139 43 26 39 36,3372010 120 776 79 89 84 42 34 8 3 1 2 1,2382011 139 739 87 108 61 51 38 14 2 0 2 1,2412012 169 712 111 102 68 63 28 10 4 1 0 1,2682013 118 694 99 104 56 48 39 9 8 0 2 1,1772014 107 719 90 105 60 49 26 7 3 0 4 1,1702015 109 641 91 79 52 54 33 10 1 0 0 1,0702016 68 604 97 94 57 33 28 6 0 0 1 9882017 77 438 154 56 93 46 16 1 0 0 0 881

TOTAL 8,026 29,160 2,375 2,249 1,491 1,027 696 204 64 28 50 45,370


Prior ($157) $18,597 $11,087 $24,559 $34,143 $44,783 $69,148 $48,943 $25,829 $23,025 $62,702 $362,6602010 (0) 921 559 1458 3014 2921 5287 3119 2055 915 8,507 28,7572011 0 966 606 1785 2136 3583 6149 4472 1215 0 5,774 26,6872012 0 928 774 1613 2393 4538 4552 3137 2545 834 0 21,3132013 0 938 734 1675 2037 3347 6016 3046 4819 0 3,700 26,3112014 (1) 1037 658 1678 2158 3350 3775 2380 1764 0 5,306 22,1042015 0 915 641 1370 1867 3861 4211 3438 533 0 0 16,8342016 0 858 691 1490 2066 2359 3810 1938 0 0 2,685 15,8982017 0 773 1003 917 3331 3337 2165 288 0 0 0 11,815

TOTAL ($158) $25,933 $16,753 $36,547 $53,145 $72,079 $105,113 $70,760 $38,759 $24,774 $88,673 $532,378

Notes:Per STATE OF ALASKA.* All Report Years are 12-month periods ending 6/30 of the stated year.

REPORTED CLAIM COUNTS

REPORTED LOSSES


SIZE OF LOSS DISTRIBUTIONAS OF JUNE 30, 2017


R:\clientsPtoZ\State of Alaska\2017\WC_2017\LOSS_DIST10/12/2017 10:54 AM


EXHIBIT IIPAGE 1A OF 9


(1) (2) (3) (4) (5) (6) (7)

Prior $01994 $5,021 $4,973 $5,021 $5,021 $5,021 $4,973 471995 5,410 5,410 5,410 5,410 5,410 5,410 01996 5,965 5,965 5,965 5,965 5,965 5,965 01997 2,841 2,841 2,841 2,841 2,841 2,841 01998 4,724 4,724 4,724 4,724 4,724 4,724 01999 5,327 5,327 5,327 5,327 5,327 5,327 02000 7,453 7,453 7,453 7,453 7,453 7,453 02001 4,494 4,494 4,494 4,494 4,494 4,494 02002 3,064 3,029 3,064 3,064 3,055 3,024 312003 4,374 4,383 4,372 4,379 4,369 4,369 02004 7,614 7,641 7,611 7,630 7,603 7,603 02005 6,947 6,982 6,941 6,962 6,958 6,917 412006 8,278 8,351 8,260 8,301 8,238 8,238 02007 5,906 5,963 5,873 5,890 5,908 5,795 1132008 6,220 6,300 6,208 6,272 6,250 6,140 1102009 2,582 2,656 2,607 2,701 2,507 2,507 02010 1,424 1,494 1,508 1,682 1,527 1,358 1692011 4,937 5,421 4,860 5,154 5,093 4,621 4722012 7,355 7,737 7,481 8,003 7,644 7,156 4882013 2,882 3,569 2,971 3,611 3,258 2,433 8252014 4,086 5,517 4,004 4,666 4,045 2,877 1,1682015 3,459 5,050 3,621 4,117 3,540 1,351 2,1892016 12,792 12,308 6,203 4,581 5,392 1,230 4,1622017 3,757 3,757 3,616 3,708 3,686 50 3,636

TOTAL $126,912 $131,345 $120,435 $121,957 $120,310 $106,857 $13,452

Notes:(1), (2), (3), & (4) - Ultimate losses calculated from Exhibit II, Pages 2 & 3.(5) = Selected based on (1), (2), (3) & (4).(6) - Per STATE OF ALASKA(7) = (5) - (6).* All Report Years are 12-month periods ending 6/30 of the stated year.




GENERAL LIABILITY($AMOUNTS IN '000s)

UNLIMITED

C:\Users\owner\Dropbox\clientsPtoZ\State of Alaska\2017\General Liability_2017\SELECTED10/13/2017 12:32 PM


EXHIBIT IIPAGE 1B OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $5,021 47 47 $4,973 $5,021 01995 5,410 0 0 5,410 5,410 01996 5,965 0 0 5,965 5,965 01997 2,841 0 0 2,841 2,841 01998 4,724 0 0 4,724 4,724 01999 5,327 0 0 5,327 5,327 02000 7,453 0 0 7,453 7,453 02001 4,494 0 0 4,494 4,494 02002 3,055 31 31 3,024 3,055 02003 4,369 0 0 4,369 4,369 02004 7,603 0 0 7,603 7,603 02005 6,958 41 16 6,917 6,933 252006 8,238 0 0 8,238 8,238 02007 5,908 113 38 5,795 5,833 752008 6,250 110 30 6,140 6,170 802009 2,507 0 0 2,507 2,507 02010 1,527 169 65 1,358 1,423 1042011 5,093 472 181 4,621 4,803 2912012 7,644 488 177 7,156 7,333 3112013 3,258 825 226 2,433 2,659 5992014 4,045 1,168 391 2,877 3,268 7772015 3,540 2,189 758 1,351 2,110 1,4302016 5,392 4,162 775 1,230 2,005 3,3872017 3,686 3,636 275 50 325 3,3622018 3,943 104 104 3,839

TOTAL $124,253 $13,452 $3,115 $106,857 $109,973 $14,280

Notes:(1) - For 2017 and prior, ultimate losses based from Exhibit II, Page 1A, Column (5). For 2018, ultimate loss is the projected loss in Exhibit II, Page 6A.(2) - For 2017 and prior, loss reserves based from Exhibit II, Page 1A, Column (7).(3) - From Exhibit II, Page 8.(4) - From Exhibit II, Page 1A. Column (6).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED




R:\clientsPtoZ\State of Alaska\2017\General Liability_2017\RSV_210/13/2017 9:57 PM


EXHIBIT IIPAGE 1C OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $5,021 0 0 $5,021 $5,021 01995 5,410 0 0 5,410 5,410 01996 5,965 0 0 5,965 5,965 01997 2,841 0 0 2,841 2,841 01998 4,724 0 0 4,724 4,724 01999 5,327 0 0 5,327 5,327 02000 7,453 0 0 7,453 7,453 02001 4,494 0 0 4,494 4,494 02002 3,055 0 0 3,055 3,055 02003 4,369 0 0 4,369 4,369 02004 7,603 0 0 7,603 7,603 02005 6,958 25 15 6,933 6,948 102006 8,238 0 0 8,238 8,238 02007 5,908 75 21 5,833 5,854 542008 6,250 80 27 6,170 6,196 532009 2,507 0 0 2,507 2,507 02010 1,527 104 32 1,423 1,455 722011 5,093 291 112 4,803 4,914 1792012 7,644 311 119 7,333 7,453 1922013 3,258 599 217 2,659 2,876 3822014 4,045 777 213 3,268 3,481 5642015 3,540 1,430 479 2,110 2,589 9512016 5,392 3,387 1,174 2,005 3,179 2,2132017 3,686 3,362 626 325 951 2,7362018 3,943 3,839 290 104 394 3,5492019 4,018 106 106 3,912

TOTAL $128,271 $14,280 $3,430 $109,973 $113,403 $14,868

Notes:(1) - For 2018 and prior, ultimate losses based from Exhibit II, Page 1B, Column (1). For 2019, ultimate loss is the projected loss in Exhibit II, Page 6A.(2) - For 2018 and prior, loss reserves based from Exhibit II, Page 1B, Column (6).(3) - From Exhibit II, Page 8.(4) - From Exhibit II, Page 1B. Column (5).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED






EXHIBIT IIPAGE 1D OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $5,021 0 0 $5,021 $5,021 01995 5,410 0 0 5,410 5,410 01996 5,965 0 0 5,965 5,965 01997 2,841 0 0 2,841 2,841 01998 4,724 0 0 4,724 4,724 01999 5,327 0 0 5,327 5,327 02000 7,453 0 0 7,453 7,453 02001 4,494 0 0 4,494 4,494 02002 3,055 0 0 3,055 3,055 02003 4,369 0 0 4,369 4,369 02004 7,603 0 0 7,603 7,603 02005 6,958 10 5 6,948 6,953 52006 8,238 0 0 8,238 8,238 02007 5,908 54 22 5,854 5,875 332008 6,250 53 15 6,196 6,211 392009 2,507 0 0 2,507 2,507 02010 1,527 72 20 1,455 1,475 532011 5,093 179 55 4,914 4,969 1242012 7,644 192 74 7,453 7,526 1182013 3,258 382 147 2,876 3,023 2362014 4,045 564 204 3,481 3,685 3602015 3,540 951 260 2,589 2,849 6912016 5,392 2,213 741 3,179 3,920 1,4722017 3,686 2,736 948 951 1,899 1,7882018 3,943 3,549 661 394 1,055 2,8882019 4,018 3,912 295 106 401 3,6172020 4,093 108 108 3,985

TOTAL $132,364 $14,868 $3,554 $113,403 $116,957 $15,406

Notes:(1) - For 2019 and prior, ultimate losses based from Exhibit II, Page 1C, Column (1). For 2020, ultimate loss is the projected loss in Exhibit II, Page 6A.(2) - For 2019 and prior, loss reserves based from Exhibit II, Page 1C, Column (6).(3) - From Exhibit II, Page 8.(4) - From Exhibit II, Page 1C. Column (5).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED






EXHIBIT IIPAGE 2 OF 9

UNLIMITED INCURRED INCURRED LARGE LOSS ULTIMATE ESTIMATEDREPORT LOSSES LOSSES AS OF DEVLPMT INCURRED LOSSYEAR* @6/30/2017 @6/30/2017 FACTORS LOSSES POPULATION RATE

(1) (1A) (2) (3) (4) (5)

Prior1994 $5,021 1.000 $5,021 N/A1995 5,410 $2,416 1.000 5,410 N/A1996 5,965 2,610 1.000 5,965 N/A1997 2,841 1.000 2,841 N/A1998 4,724 1.000 4,724 N/A1999 5,327 1.000 5,327 N/A2000 7,453 2,465 1.000 7,453 N/A2001 4,494 1.000 4,494 N/A2002 3,064 1.000 3,064 N/A2003 4,369 1.001 4,374 647,188 0.0072004 7,603 2,934 1.002 7,614 656,569 0.0122005 6,926 2,193 1.004 6,947 663,085 0.0102006 8,238 2,355 1.007 8,278 669,716 0.0122007 5,829 1.013 5,906 674,510 0.0092008 6,145 2,170 1.019 6,220 679,720 0.0092009 2,507 1.030 2,582 692,314 0.0042010 1,367 1.041 1,424 714,142 0.0022011 4,648 1.062 4,937 723,147 0.0072012 7,178 5,226 1.090 7,355 732,298 0.0102013 2,570 1.121 2,882 739,998 0.0042014 3,125 1.307 4,086 747,668 0.0052015 1,698 2.037 3,459 755,310 0.0052016 3,498 3.657 12,792 744,623 0.0172017 200 3,757 751,471 0.005

TOTAL $110,200 $22,369 $126,912

UNLIMITED PAID PAID LARGE LOSS ULTIMATE ESTIMATEDREPORT LOSSES LOSSES AS OF DEVLPMT INCURRED LOSSYEAR* @6/30/2017 @6/30/2017 FACTORS LOSSES POPULATION RATE

(6) (6A) (7) (8) (9) (10)

Prior1994 $4,973 1.000 $4,973 N/A1995 5,410 $2,416 1.000 5,410 N/A1996 5,965 2,610 1.000 5,965 N/A1997 2,841 1.000 2,841 N/A1998 4,724 1.000 4,724 N/A1999 5,327 1.000 5,327 N/A2000 7,453 2,465 1.000 7,453 N/A2001 4,494 1.000 4,494 N/A2002 3,024 1.002 3,029 N/A2003 4,369 1.003 4,383 647,188 0.0072004 7,603 2,934 1.008 7,641 656,569 0.0122005 6,917 2,193 1.014 6,982 663,085 0.0112006 8,238 2,355 1.019 8,351 669,716 0.0122007 5,795 1.029 5,963 674,510 0.0092008 6,140 2,170 1.040 6,300 679,720 0.0092009 2,507 1.059 2,656 692,314 0.0042010 1,358 1.100 1,494 714,142 0.0022011 4,621 1.173 5,421 723,147 0.0082012 7,156 5,226 1.301 7,737 732,298 0.0112013 2,433 1.467 3,569 739,998 0.0052014 2,877 1.918 5,517 747,668 0.0072015 1,351 3.737 5,050 755,310 0.0072016 1,230 10.008 12,308 744,623 0.0172017 50 3,757 751,471 0.005

TOTAL $106,857 $22,369 $131,345

Notes:(1), (4), (6) & (9) - Per STATE OF ALASKA. (1A) & (6A) - Incurred and paid losses excluded in the development.(2) & (7) - Per State's historical loss pattern, supplemented by AM Best insurance industry historical loss patterns.(3) = (1) x (2); (8) = (6) x (7). If ultimate incurred losses in (8) are less than the incurred losses in (1), we used


GENERAL LIABILITY






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REPORT LOSS ULTIMATE OF LOSSES IBNR LOSSES INCURREDYEAR* RATE POPULATION LOSSES UNREPORTED RESERVES @6/30/2017 LOSSES

(1) (2) (3) (4) (5) (6) (7)

Prior1994 0.005 N/A $4,997 0.0% $0 $5,021 $5,0211995 0.005 N/A 5,410 0.0% 0 5,410 5,4101996 0.005 N/A 5,965 0.0% 0 5,965 5,9651997 0.005 N/A 2,841 0.0% 0 2,841 2,8411998 0.005 N/A 4,724 0.0% 0 4,724 4,7241999 0.005 N/A 5,327 0.0% 0 5,327 5,3272000 0.005 N/A 7,453 0.0% 0 7,453 7,4532001 0.005 N/A 4,494 0.0% 0 4,494 4,4942002 0.005 N/A 3,047 0.0% 0 3,064 3,0642003 0.005 647,188 3,236 0.1% 3 4,369 4,3722004 0.005 656,569 3,283 0.2% 8 7,603 7,6112005 0.005 663,085 3,315 0.4% 15 6,926 6,9412006 0.005 669,716 3,349 0.7% 22 8,238 8,2602007 0.005 674,510 3,373 1.3% 44 5,829 5,8732008 0.005 679,720 3,399 1.8% 63 6,145 6,2082009 0.005 692,314 3,462 2.9% 100 2,507 2,6072010 0.005 714,142 3,571 4.0% 141 1,367 1,5082011 0.005 723,147 3,616 5.9% 212 4,648 4,8602012 0.005 732,298 3,661 8.3% 303 7,178 7,4812013 0.005 739,998 3,700 10.8% 401 2,570 2,9712014 0.005 747,668 3,738 23.5% 879 3,125 4,0042015 0.005 755,310 3,777 50.9% 1,923 1,698 3,6212016 0.005 744,623 3,723 72.7% 2,705 3,498 6,2032017 0.005 751,471 3,757 90.9% 3,416 200 3,616

TOTAL $97,216 $10,235 $110,200 $120,435

ESTIMATED EXPECTED EXPECTED % UNLIMITED PAID ULTIMATEREPORT LOSS ULTIMATE OF LOSSES LOSS LOSSES INCURREDYEAR* RATE POPULATION LOSSES UNPAID RESERVES @6/30/2017 LOSSES

(8) (9) (10) (11) (12) (13) (14)

Prior1994 0.005 N/A $4,997 0.0% $0 $4,973 $5,0211995 0.005 N/A 5,410 0.0% 0 5,410 5,4101996 0.005 N/A 5,965 0.0% 0 5,965 5,9651997 0.005 N/A 2,841 0.0% 0 2,841 2,8411998 0.005 N/A 4,724 0.0% 0 4,724 4,7241999 0.005 N/A 5,327 0.0% 0 5,327 5,3272000 0.005 N/A 7,453 0.0% 0 7,453 7,4532001 0.005 N/A 4,494 0.0% 0 4,494 4,4942002 0.005 N/A 3,047 0.2% 5 3,024 3,0642003 0.005 647,188 3,236 0.3% 10 4,369 4,3792004 0.005 656,569 3,283 0.8% 27 7,603 7,6302005 0.005 663,085 3,315 1.4% 45 6,917 6,9622006 0.005 669,716 3,349 1.9% 63 8,238 8,3012007 0.005 674,510 3,373 2.8% 95 5,795 5,8902008 0.005 679,720 3,399 3.9% 132 6,140 6,2722009 0.005 692,314 3,462 5.6% 194 2,507 2,7012010 0.005 714,142 3,571 9.1% 324 1,358 1,6822011 0.005 723,147 3,616 14.7% 533 4,621 5,1542012 0.005 732,298 3,661 23.1% 847 7,156 8,0032013 0.005 739,998 3,700 31.8% 1,178 2,433 3,6112014 0.005 747,668 3,738 47.9% 1,789 2,877 4,6662015 0.005 755,310 3,777 73.2% 2,766 1,351 4,1172016 0.005 744,623 3,723 90.0% 3,351 1,230 4,5812017 0.005 751,471 3,757 97.4% 3,658 50 3,708

TOTAL $97,216 $15,017 $106,857 $121,957

Notes:(1) & (8) - The average of the loss rates of prior years as shown in Columns (5) and (10) of Exhibit II, Page 2.(2) & (9) - Per STATE OF ALASKA.(3) = (1) x (2); (10) = (8) x (9). For 2002 & prior, average of Exhibit I, Columns (5) & (10).(4) = (1 - (1/ILDF)); (11) = (1 - (1/PLDF)).(5) = (3) x (4); (12) = (10) x (11).(6) & (13) - Per STATE OF ALASKA.(7) = (5) + (6); (14) = (12) + (13). If ultimate incurred losses in (14) are less than the incurred losses in (6), we used the incurred losses in (6).* All Report Years are 12-month periods ending 6/30 of the stated year.





UNLIMITED

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1994 4,6211995 3,169 3,6451996 6,349 6,355 6,3751997 2,776 2,820 2,815 2,8151998 3,872 3,778 3,916 3,916 5,8641999 3,908 3,951 3,968 3,961 3,962 3,9882000 7,158 7,212 7,558 7,539 7,551 7,443 7,4432001 3,267 3,218 3,259 3,262 3,347 3,391 3,315 3,2792002 1,689 2,031 2,360 2,465 2,571 2,713 2,713 2,851 2,8622003 2,811 3,534 3,793 3,954 3,965 4,086 4,272 4,364 4,372 4,3802004 2,216 2,907 5,479 7,642 7,642 7,652 7,652 7,602 7,603 7,603 7,6032005 1,451 5,002 5,708 6,187 6,655 6,715 6,702 6,660 6,675 6,676 6,701 6,7822006 675 1,418 3,026 5,737 7,114 7,453 7,615 8,249 8,258 8,238 8,238 8,2382007 822 1,593 3,275 4,213 4,431 4,199 4,301 4,826 5,134 5,425 5,8292008 561 1,021 2,078 2,680 3,547 4,124 4,824 6,519 6,227 6,1452009 827 1,336 1,073 1,796 2,062 2,362 2,459 2,452 2,5072010 166 288 928 1,155 1,448 1,338 1,389 1,3672011 144 924 1,797 3,346 4,561 4,550 4,6482012 132 462 2,366 6,800 7,070 7,1782013 100 338 1,562 1,757 2,5702014 346 1,260 2,515 3,1252015 294 1,300 1,6982016 2,315 3,4982017 200



1994 1.0001995 1.150 1.0021996 1.001 1.003 1.0021997 1.016 0.998 1.000 1.0001998 0.976 1.037 1.000 1.497 1.0121999 1.011 1.004 0.998 1.000 1.007 1.0112000 1.008 1.048 0.997 1.002 0.986 1.000 0.9992001 0.985 1.013 1.001 1.026 1.013 0.978 0.989 1.0122002 1.202 1.162 1.044 1.043 1.055 1.000 1.051 1.004 1.0012003 1.257 1.073 1.042 1.003 1.031 1.046 1.022 1.002 1.002 0.9992004 1.312 1.885 1.395 1.000 1.001 1.000 0.993 1.000 1.000 1.000 1.0002005 3.447 1.141 1.084 1.076 1.009 0.998 0.994 1.002 1.000 1.004 1.012 1.0212006 2.101 2.134 1.896 1.240 1.048 1.022 1.083 1.001 0.998 1.000 1.0002007 1.938 2.056 1.286 1.052 0.948 1.024 1.122 1.064 1.057 1.0742008 1.820 2.035 1.290 1.324 1.163 1.170 1.351 0.955 0.9872009 1.615 0.803 1.674 1.148 1.145 1.041 0.997 1.0232010 1.735 3.222 1.245 1.254 0.924 1.038 0.9842011 6.417 1.945 1.862 1.363 0.998 1.0222012 3.500 5.121 2.874 1.040 1.0152013 3.380 4.621 1.125 1.4622014 3.642 1.996 1.2432015 4.422 1.3062016 1.511

AVERAGE 2.961 2.308 1.560 1.219 1.037 1.032 1.055 1.012 1.011 1.008 1.055 1.0053 YR AVG. 3.192 2.641 1.747 1.288 0.979 1.034 1.111 1.014 1.014 1.026 1.004 1.007


PRIOR SELECTED (MADISON) 3.000 1.717 2.079 1.157 1.029 1.026 1.015 1.011 1.011 1.005 1.005 1.002AM BEST 1.361 1.143 1.071 1.029 1.011 1.004 1.002 1.000 1.000 1.000 1.000 1.000

SELECTED 3.010 1.795 1.558 1.166 1.029 1.026 1.020 1.011 1.011 1.006 1.006 1.002CUMULATIVE 11.008 3.657 2.037 1.307 1.121 1.090 1.062 1.041 1.030 1.019 1.013 1.007


DEVELOPMENT MONTHS




UNLIMITED

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1994 4,621 4,621 4,621 4,621 4,621 4,621 4,621 4,621 4,621 4,654 4,789 5,0211995 3,654 5,404 5,418 5,418 5,410 5,410 5,410 5,410 5,410 5,410 5,4101996 6,387 6,387 6,395 5,965 5,965 5,965 5,965 5,965 5,965 5,9651997 2,815 2,841 2,841 2,841 2,841 2,841 2,841 2,841 2,8411998 5,932 5,175 5,182 5,221 5,237 4,724 4,724 4,7241999 4,033 4,383 4,411 6,474 5,327 5,327 5,3272000 7,438 7,453 7,453 7,453 7,453 7,4532001 3,319 4,491 4,494 4,494 4,4942002 2,864 2,864 2,967 3,0642003 4,376 4,369 4,3692004 7,603 7,6032005 6,926200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.007 1.029 1.0481995 1.479 1.003 1.000 0.999 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.001 0.933 1.000 1.000 1.000 1.000 1.000 1.0001997 1.009 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 0.872 1.001 1.008 1.003 0.902 1.000 1.0001999 1.087 1.006 1.468 0.823 1.000 1.0002000 1.002 1.000 1.000 1.000 1.0002001 1.353 1.001 1.000 1.0002002 1.000 1.036 1.0332003 0.998 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.073 1.005 1.049 0.978 0.986 1.000 1.000 1.000 1.002 1.0153 YR AVG. 0.999 1.012 1.011 0.941 0.967 1.000 1.000 1.000 1.002

EXCL HI LO 1.050 1.002 1.006 1.000 1.000 1.000 1.000 1.0005 YR AVG EXCL HI LO 1.001 1.002 1.014 1.000 1.000 1.000 1.000

PRIOR SELECTED (MADISON) 1.002 1.001 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000AM BEST 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000

SELECTED 1.002 1.001 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000CUMULATIVE 1.004 1.002 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS




UNLIMITED

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1994 4,6211995 2,803 2,8471996 5,919 5,921 5,9451997 2,758 2,805 2,815 2,8151998 3,641 3,641 3,646 3,914 4,3631999 3,873 3,920 3,934 3,958 3,959 3,9672000 6,759 6,842 7,322 7,415 7,436 7,433 7,4362001 3,023 3,082 3,124 3,146 3,197 3,268 3,291 3,2792002 1,325 1,627 2,270 2,385 2,487 2,577 2,645 2,851 2,8622003 1,128 2,188 3,146 3,856 3,895 3,990 4,205 4,241 4,308 4,3522004 1,286 1,819 4,629 7,532 7,642 7,652 7,652 7,602 7,603 7,603 7,6032005 310 1,752 5,129 5,771 6,365 6,609 6,636 6,660 6,675 6,676 6,694 6,7822006 256 666 1,940 4,615 6,749 7,147 7,486 8,228 8,238 8,238 8,238 8,2382007 273 958 2,747 3,435 3,660 4,192 4,281 4,529 5,007 5,291 5,7952008 240 506 1,363 1,994 2,969 3,616 4,370 6,053 6,127 6,1402009 493 707 844 1,385 1,899 2,178 2,419 2,449 2,5072010 38 176 566 941 1,139 1,321 1,357 1,3582011 28 449 1,495 2,938 4,480 4,538 4,6212012 40 293 806 6,601 7,045 7,1562013 61 237 1,120 1,531 2,4332014 65 503 1,799 2,8772015 97 378 1,3512016 96 1,2302017 50



1994 1.0001995 1.016 1.0901996 1.000 1.004 1.0021997 1.017 1.004 1.000 1.0001998 1.000 1.001 1.074 1.115 1.0121999 1.012 1.004 1.006 1.000 1.002 1.0152000 1.012 1.070 1.013 1.003 1.000 1.000 1.0002001 1.020 1.014 1.007 1.016 1.022 1.007 0.996 1.0112002 1.228 1.395 1.051 1.043 1.036 1.026 1.078 1.004 1.0012003 1.940 1.438 1.226 1.010 1.024 1.054 1.009 1.016 1.010 1.0042004 1.414 2.545 1.627 1.015 1.001 1.000 0.993 1.000 1.000 1.000 1.0002005 5.652 2.928 1.125 1.103 1.038 1.004 1.004 1.002 1.000 1.003 1.013 1.0202006 2.602 2.913 2.379 1.462 1.059 1.047 1.099 1.001 1.000 1.000 1.0002007 3.509 2.867 1.250 1.066 1.145 1.021 1.058 1.106 1.057 1.0952008 2.108 2.694 1.463 1.489 1.218 1.209 1.385 1.012 1.0022009 1.434 1.194 1.641 1.371 1.147 1.111 1.012 1.0242010 4.632 3.216 1.663 1.210 1.160 1.027 1.0012011 16.036 3.330 1.965 1.525 1.013 1.0182012 7.325 2.751 8.190 1.067 1.0162013 3.885 4.726 1.367 1.5892014 7.738 3.577 1.5992015 3.897 3.5752016 12.810

AVERAGE 5.969 2.932 2.261 1.348 1.121 1.044 1.060 1.022 1.012 1.023 1.013 1.0133 YR AVG. 8.148 3.959 3.719 1.394 1.063 1.052 1.133 1.047 1.020 1.033 1.004 1.008





UNLIMITED

DEVELOPMENT MONTHS




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1994 4,621 4,621 4,621 4,621 4,621 4,621 4,621 4,621 4,621 4,654 4,789 4,9731995 3,104 3,236 5,410 5,410 5,410 5,410 5,410 5,410 5,410 5,410 5,4101996 5,957 5,957 5,965 5,965 5,965 5,965 5,965 5,965 5,965 5,9651997 2,815 2,841 2,841 2,841 2,841 2,841 2,841 2,841 2,8411998 4,414 4,653 4,670 4,718 4,724 4,724 4,724 4,7241999 4,027 4,310 4,399 4,473 5,327 5,327 5,3272000 7,438 7,453 7,453 7,453 7,453 7,4532001 3,315 3,490 4,494 4,494 4,4942002 2,864 2,864 2,967 3,0242003 4,369 4,369 4,3692004 7,603 7,6032005 6,917200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.007 1.029 1.0381995 1.043 1.672 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.0001997 1.009 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.054 1.004 1.010 1.001 1.000 1.000 1.0001999 1.070 1.021 1.017 1.191 1.000 1.0002000 1.002 1.000 1.000 1.000 1.0002001 1.053 1.288 1.000 1.0002002 1.000 1.036 1.0192003 1.000 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.021 1.102 1.005 1.024 1.000 1.000 1.000 1.000 1.002 1.0153 YR AVG. 1.000 1.108 1.006 1.064 1.000 1.000 1.000 1.000 1.002






DEVELOPMENT MONTHS



GENERAL LIABILITY

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EXHIBIT IIPAGE 4E OF 9


1994 2911995 305 3051996 279 279 2791997 542 542 542 5421998 183 184 184 185 1851999 214 214 215 215 215 2152000 198 198 198 198 198 191 1922001 214 214 215 215 215 211 211 2112002 188 189 190 190 190 185 185 185 1852003 188 189 190 190 190 185 185 185 185 1852004 127 142 144 144 144 142 142 142 142 142 1422005 89 111 123 120 119 116 116 116 116 117 118 1182006 180 198 215 217 218 218 218 218 217 217 217 2182007 118 130 143 146 146 147 148 150 150 153 1552008 104 124 139 141 144 148 148 150 150 1532009 64 89 98 102 105 105 105 106 1072010 37 51 65 72 74 74 74 832011 31 54 79 81 81 82 872012 60 74 90 91 91 962013 54 66 81 85 912014 31 44 63 732015 23 33 482016 35 562017 40



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.005 1.000 1.005 1.000 1.0051999 1.000 1.005 1.000 1.000 1.000 0.9952000 1.000 1.000 1.000 1.000 0.965 1.005 1.0002001 1.000 1.005 1.000 1.000 0.981 1.000 1.000 1.0052002 1.005 1.005 1.000 1.000 0.974 1.000 1.000 1.000 0.9952003 1.005 1.005 1.000 1.000 0.974 1.000 1.000 1.000 1.000 1.0002004 1.118 1.014 1.000 1.000 0.986 1.000 1.000 1.000 1.000 1.000 1.0002005 1.247 1.108 0.976 0.992 0.975 1.000 1.000 1.000 1.009 1.009 1.000 1.0512006 1.100 1.086 1.009 1.005 1.000 1.000 1.000 0.995 1.000 1.000 1.0052007 1.102 1.100 1.021 1.000 1.007 1.007 1.014 1.000 1.020 1.0132008 1.192 1.121 1.014 1.021 1.028 1.000 1.014 1.000 1.0202009 1.391 1.101 1.041 1.029 1.000 1.000 1.010 1.0092010 1.378 1.275 1.108 1.028 1.000 1.000 1.1222011 1.742 1.463 1.025 1.000 1.012 1.0612012 1.233 1.216 1.011 1.000 1.0552013 1.222 1.227 1.049 1.0712014 1.419 1.432 1.1592015 1.435 1.4552016 1.600

AVERAGE 1.338 1.225 1.036 1.013 1.007 1.005 1.011 0.999 1.003 0.999 1.001 1.0043 YR AVG. 1.485 1.371 1.073 1.024 1.022 1.020 1.049 1.003 1.013 1.007 1.002 1.017



CUMULATIVE 1.933 1.404 1.084 1.032 1.016 1.010 1.007 1.004 1.003 1.001 1.000 1.000


DEVELOPMENT MONTHS



GENERAL LIABILITY

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EXHIBIT IIPAGE 4F OF 9


1994 291 291 291 291 291 291 291 291 291 292 292 2921995 305 305 305 305 305 305 305 305 305 306 3061996 279 279 280 280 280 280 280 280 280 2801997 542 543 543 543 543 543 543 543 5431998 186 186 186 186 186 186 186 1861999 214 214 214 214 214 214 2162000 192 192 192 192 192 1992001 212 212 212 212 2162002 184 185 186 1912003 185 185 1902004 142 1442005 124200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.003 1.000 1.0001995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.003 1.0001996 1.000 1.004 1.000 1.000 1.000 1.000 1.000 1.000 1.0001997 1.002 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0092000 1.000 1.000 1.000 1.000 1.0362001 1.000 1.000 1.000 1.0192002 1.005 1.005 1.0272003 1.000 1.0272004 1.014200520062007200820092010201120122013201420152016

AVERAGE 1.002 1.004 1.003 1.002 1.005 1.002 1.000 1.000 1.002 1.0003 YR AVG. 1.006 1.011 1.009 1.006 1.012 1.003 1.000 1.000 1.002

EXCL HI LO 1.001 1.001 1.000 1.000 1.000 1.000 1.000 1.0005 YR AVG EXCL HI LO 1.002 1.002 1.000 1.000 1.000 1.000 1.000 1.000


CUMULATIVE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



GENERAL LIABILITY

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GENERAL LIABILITY


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 47 1.000 47 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 31 1.000 31 02003 0 0.970 0 02004 0 0.968 0 02005 41 0.958 39 22006 0 0.945 0 02007 113 0.940 106 72008 110 0.933 103 72009 0 0.930 0 02010 169 0.935 158 112011 472 0.937 442 302012 488 0.937 457 312013 825 0.931 768 572014 1,168 0.931 1,088 812015 2,189 0.932 2,040 1492016 4,162 0.920 3,829 3332017 3,636 0.900 3,273 363

TOTAL $13,452 $12,382 $1,071


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit II, Page 1A, Column (7).(2) - Per AMI calculations, see Appendix A, Page 2.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.



$12,38215,702

25,58119,127

R:\clientsPtoZ\State of Alaska\2017\General Liability_2017\DISC_RSV_110/12/2017 11:06 AM




CALCULATION OF DISCOUNTED RESERVESGENERAL LIABILITY


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 0.970 0 02005 25 0.968 24 12006 0 0.958 0 02007 75 0.945 71 42008 80 0.940 75 52009 0 0.933 0 02010 104 0.930 97 72011 291 0.935 272 192012 311 0.937 292 202013 599 0.937 562 382014 777 0.931 723 542015 1,430 0.931 1,331 992016 3,387 0.932 3,157 2302017 3,362 0.920 3,092 2692018 3,839 0.900 3,455 384

TOTAL $14,280 $13,151 $1,129


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit II, Page 1B, Column (6).(2) - Per AMI calculations, see Appendix A, Page 2.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2018


$13,15116,67820,31527,171








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 10 0.970 9 02006 0 0.968 0 02007 54 0.958 52 22008 53 0.945 51 32009 0 0.940 0 02010 72 0.933 67 52011 179 0.930 166 132012 192 0.935 179 132013 382 0.937 358 242014 564 0.937 529 352015 951 0.931 885 662016 2,213 0.931 2,060 1532017 2,736 0.932 2,550 1862018 3,549 0.920 3,265 2842019 3,912 0.900 3,521 391

TOTAL $14,868 $13,693 $1,175


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit II, Page 1C, Column (6).(2) - Per AMI calculations, see Appendix A, Page 2.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2019


$13,69317,36521,15228,291








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 5 1.000 5 02006 0 0.970 0 02007 33 0.968 32 12008 39 0.958 37 22009 0 0.945 0 02010 53 0.940 49 32011 124 0.933 116 82012 118 0.930 110 82013 236 0.935 220 152014 360 0.937 337 232015 691 0.937 648 432016 1,472 0.931 1,370 1022017 1,788 0.931 1,664 1242018 2,888 0.932 2,692 1962019 3,617 0.920 3,327 2902020 3,985 0.900 3,587 398

TOTAL $15,406 $14,193 $1,214


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit II, Page 1D, Column (6).(2) - Per AMI calculations, see Appendix A, Page 2.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2020


$14,19317,99921,92529,324







GENERAL LIABILITY


REPORT ULTIMATE LOSSYEAR* LOSSES POPULATION RATE

(1) (2) (3)

Prior1994 $5,021 N/A1995 5,410 N/A1996 5,965 N/A1997 2,841 N/A1998 4,724 N/A1999 5,327 N/A2000 7,453 N/A2001 4,494 N/A2002 3,055 N/A2003 4,369 647,188 0.0072004 7,603 656,569 0.0122005 6,958 663,085 0.0102006 8,238 669,716 0.0122007 5,908 674,510 0.0092008 6,250 679,720 0.0092009 2,507 692,314 0.0042010 1,527 714,142 0.0022011 5,093 723,147 0.0072012 7,644 732,298 0.0102013 3,258 739,998 0.0042014 4,045 747,668 0.0052015 3,540 755,310 0.0052016 5,392 744,623 0.0072017 3,686 751,471 0.005

(PROJ.) 2017/2018 $3,943 758,259 0.005(PROJ.) 2018/2019 4,018 764,949 0.005(PROJ.) 2019/2020 4,093 771,529 0.005



(4) (5) (6) (7)

2018 $3,943 0.877 $3,457 $4862019 4,018 0.877 3,523 4952020 4,093 0.877 3,589 504



(8) (9) (10) (11)

2018 $3,457 $4,903 $6,265 $8,9652019 3,523 4,997 6,384 9,1362020 3,589 5,090 6,504 9,308

Notes:(1) - Per Exhibit II, Page 1A, Column (5). For projected years, (1) = (2) x (3)(2) - Per STATE OF ALASKA.(3) = (1) / (2). For the projected years, it is the trended average of prior years(4) = (1); (5) - Per Appendix A, Page 3, Column (7).(6) = (4) x (5); (7)= (4) - (6).(8) = (6).(9) to (11) - Based on Monte Carlo Simulation.* All Report Years are 12-month periods ending 6/30 of the stated year.


R:\clientsPtoZ\State of Alaska\2017\General Liability_2017\PROJ_UNLIM10/12/2017 11:06 AM





GENERAL LIABILITY



(1) (2) (3)

2018 $3,943 0.725 $2,8592019 4,018 0.725 2,9132020 4,093 0.725 2,967

Notes:(1) - Per Exhibit II, Page 6A, Column (4).(2) - Based on industry increased limits factors for the STATE OF ALASKA.(3) = (1) * (2)* All Report Years are 12-month periods ending 6/30 of the stated year.


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REPORT REPORTED DEVELOPMENT CLAIM ULTIMATE 10,000 PEOPLE (SEVERITY)YEAR* @6/30/2017 FACTORS COUNT LOSSES POPULATION (FREQUENCY) (WHOLE DOLLARS)

(1) (2) (3) (4) (5) (6) (7)

1994 292 1.000 292 $5,021 N/A $17,1941995 306 1.000 306 5,410 N/A 17,6801996 280 1.000 280 5,965 N/A 21,3051997 543 1.000 543 2,841 N/A 5,2321998 186 1.000 186 4,724 N/A 25,3971999 216 1.000 216 5,327 N/A 24,6622000 199 1.000 199 7,453 N/A 37,4522001 216 1.000 216 4,494 N/A 20,8072002 191 1.000 191 3,055 N/A 15,9972003 190 1.000 190 4,369 647,188 2.9 22,9962004 144 1.000 144 7,603 656,569 2.2 52,7972005 124 1.000 124 6,958 663,085 1.9 56,1122006 218 1.000 218 8,238 669,716 3.3 37,7902007 155 1.000 155 5,908 674,510 2.3 38,1132008 153 1.001 153 6,250 679,720 2.3 40,7972009 107 1.003 107 2,507 692,314 1.5 23,3652010 83 1.004 83 1,527 714,142 1.2 18,3172011 87 1.007 88 5,093 723,147 1.2 58,1172012 96 1.010 97 7,644 732,298 1.3 78,8522013 91 1.016 92 3,258 739,998 1.2 35,2542014 73 1.032 75 4,045 747,668 1.0 53,6902015 48 1.084 52 3,540 755,310 0.7 68,0622016 56 1.404 79 5,392 744,623 1.1 68,5792017 40 1.933 77 3,686 751,471 1.0 47,675

TOTAL 2,487 2,557 $96,348

Notes:(1) & (5) - Per STATE OF ALASKA.(2) - Per STATE OF ALASKA's historical loss patterns. (3) = (1) x (2). (4) = Exhibit II, Page 1A, Column (5).(6) = [(3) / [(5) / 10000]] ; (7) = [(3) / (4)] x 1000.* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED



GENERAL LIABILITY

R:\clientsPtoZ\State of Alaska\2017\General Liability_2017\LDA_COUNT10/12/2017 11:06 AM



1 2 3 4 5 6 7 8 9 102.6% 10.0% 26.8% 52.1% 68.2% 76.9% 85.3% 90.9% 94.4% 96.1%2.6% 7.4% 16.8% 25.4% 16.0% 8.7% 8.4% 5.7% 3.5% 1.7%

7.5% 17.2% 26.1% 16.5% 8.9% 8.6% 5.8% 3.6% 1.8%2.6% 7.4% 16.8% 25.4% 16.0% 8.7% 8.4% 5.7% 3.5% 1.7%


Prior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $01994 $5,021 47 47 0 0 0 0 0 0 0 0 01995 5,410 0 0 0 0 0 0 0 0 0 0 01996 5,965 0 0 0 0 0 0 0 0 0 0 01997 2,841 0 0 0 0 0 0 0 0 0 0 01998 4,724 0 0 0 0 0 0 0 0 0 0 01999 5,327 0 0 0 0 0 0 0 0 0 0 02000 7,453 0 0 0 0 0 0 0 0 0 0 02001 4,494 0 0 0 0 0 0 0 0 0 0 02002 3,055 31 31 0 0 0 0 0 0 0 0 02003 4,369 0 0 0 0 0 0 0 0 0 0 02004 7,603 0 0 0 0 0 0 0 0 0 0 02005 6,958 41 16 15 5 5 0 0 0 0 0 02006 8,238 0 0 0 0 0 0 0 0 0 0 02007 5,908 113 38 21 22 20 6 7 0 0 0 02008 6,250 110 30 27 15 15 14 4 5 0 0 02009 2,507 0 0 0 0 0 0 0 0 0 0 02010 1,527 169 65 32 20 18 10 10 9 3 3 02011 5,093 472 181 112 55 34 30 17 17 16 5 52012 7,644 488 177 119 74 36 22 20 11 11 10 72013 3,258 825 226 217 147 91 44 27 24 14 14 212014 4,045 1,168 391 213 204 138 85 42 26 23 13 332015 3,540 2,189 758 479 260 250 169 104 51 32 28 562016 5,392 4,162 775 1,174 741 403 387 262 162 79 49 1302017 3,686 3,636 275 626 948 599 325 313 212 131 64 1452018 3,943 104 290 661 1,001 632 344 330 223 138 2202019 4,018 106 295 674 1,020 644 350 336 228 3652020 4,093 108 301 686 1,039 656 357 343 604

TOTAL $132,364 $13,452 $3,115 $3,430 $3,554 $3,584 $3,432 $2,832 $1,853 $1,224 $894 $1,587


($AMOUNTS IN '000s)





UNLIMITED



GENERAL LIABILITY

R:\clientsPtoZ\State of Alaska\2017\General Liability_2017\CASHFLOW_DISC10/12/2017 11:06 AM




(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)

Prior 3,593 3,765 313 387 250 185 171 66 29 7 23 87892010 10 41 10 5 6 9 2 0 0 0 0 832011 16 25 7 11 10 10 5 1 0 1 1 872012 45 22 4 8 6 4 5 1 0 0 1 962013 37 27 5 8 3 5 4 0 2 0 0 912014 17 23 4 7 9 4 8 0 0 1 0 732015 11 9 4 14 5 2 2 0 1 0 0 482016 21 10 7 10 1 3 1 0 0 1 2 562017 12 20 4 2 2 0 0 0 0 0 0 40

TOTAL 3,762 3,942 358 452 292 222 198 68 32 10 27 9,363


Prior ($4,853) $3,179 $2,247 $6,423 $8,893 $13,019 $26,623 $22,562 $17,363 $6,133 $44,361 $145,9522010 0 40 82 82 199 635 330 0 0 0 0 1,3672011 0 40 47 166 341 799 729 286 0 999 1,241 4,6482012 0 34 32 138 184 278 945 342 0 0 5,226 7,1782013 0 51 35 121 89 390 649 0 1,235 0 0 2,5702014 0 33 36 119 366 297 1,520 0 0 753 0 3,1252015 0 9 36 279 184 153 487 0 550 0 0 1,6982016 0 15 53 205 28 220 117 0 0 752 2,109 3,4982017 0 39 26 45 90 0 0 0 0 0 0 200

TOTAL ($4,853) $3,441 $2,593 $7,578 $10,374 $15,790 $31,400 $23,191 $19,149 $8,636 $52,937 $170,236



REPORTED LOSSES



GENERAL LIABILITY

R:\clientsPtoZ\State of Alaska\2017\General Liability_2017\LOSS_DIST10/12/2017 11:06 AM


EXHIBIT IIIPAGE 1A OF 9


(1) (2) (3) (4) (5) (6) (7)

Prior $01994 $614 $614 $614 $614 $614 $614 01995 1,078 1,078 1,078 1,078 1,078 1,078 01996 245 245 245 245 245 245 01997 657 657 657 657 657 657 01998 1,630 1,630 1,630 1,630 1,630 1,630 01999 1,594 1,594 1,594 1,594 1,594 1,594 02000 857 857 857 857 857 857 02001 2,363 2,363 2,363 2,363 2,363 2,363 02002 1,737 1,737 1,737 1,737 1,737 1,737 02003 445 445 445 445 445 445 02004 965 965 965 965 965 965 02005 329 329 329 329 329 329 02006 510 510 510 510 510 510 02007 309 309 309 309 309 309 02008 418 418 418 418 418 418 02009 322 322 322 322 322 322 02010 2,813 2,813 2,813 2,813 2,813 2,813 02011 666 666 666 666 666 666 02012 1,483 1,383 1,483 1,483 1,483 1,383 1002013 426 429 426 428 427 425 22014 499 443 498 496 496 426 702015 291 321 293 323 307 278 292016 192 245 219 281 234 154 802017 308 316 298 300 306 95 211

TOTAL $20,751 $20,689 $20,770 $20,864 $20,807 $20,314 $493

Notes:(1), (2), (3), & (4) - Ultimate losses calculated from Exhibit III, Pages 2 & 3.(5) = Average of (1), (2), (3) & (4).(6) - Per STATE OF ALASKA(7) = (5) - (6).* All Report Years are 12-month periods ending 6/30 of the stated year.




AUTO LIABILITY($AMOUNTS IN '000s)

UNLIMITED

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\SELECTED10/12/2017 11:14 AM


EXHIBIT IIIPAGE 1B OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $614 0 0 $614 $614 01995 1,078 0 0 1,078 1,078 01996 245 0 0 245 245 01997 657 0 0 657 657 01998 1,630 0 0 1,630 1,630 01999 1,594 0 0 1,594 1,594 02000 857 0 0 857 857 02001 2,363 0 0 2,363 2,363 02002 1,737 0 0 1,737 1,737 02003 445 0 0 445 445 02004 965 0 0 965 965 02005 329 0 0 329 329 02006 510 0 0 510 510 02007 309 0 0 309 309 02008 418 0 0 418 418 02009 322 0 0 322 322 02010 2,813 0 0 2,813 2,813 02011 666 0 0 666 666 02012 1,483 100 33 1,383 1,416 672013 427 2 2 425 427 02014 496 70 53 426 479 172015 307 29 20 278 299 82016 234 80 52 154 206 292017 306 211 92 95 187 1192018 340 116 116 224

TOTAL $21,147 $493 $370 $20,314 $20,684 $463

Notes:(1) - For 2017 and prior, ultimate losses based from Exhibit III, Page 1A, Column (5). For 2018, ultimate loss is the projected loss in Exhibit III, Page 6A.(2) - For 2017 and prior, loss reserves based from Exhibit III, Page 1A, Column (7).(3) - From Exhibit III, Page 9.(4) - From Exhibit III, Page 1A. Column (6).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED




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EXHIBIT IIIPAGE 1C OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $614 0 0 $614 $614 01995 1,078 0 0 1,078 1,078 01996 245 0 0 245 245 01997 657 0 0 657 657 01998 1,630 0 0 1,630 1,630 01999 1,594 0 0 1,594 1,594 02000 857 0 0 857 857 02001 2,363 0 0 2,363 2,363 02002 1,737 0 0 1,737 1,737 02003 445 0 0 445 445 02004 965 0 0 965 965 02005 329 0 0 329 329 02006 510 0 0 510 510 02007 309 0 0 309 309 02008 418 0 0 418 418 02009 322 0 0 322 322 02010 2,813 0 0 2,813 2,813 02011 666 0 0 666 666 02012 1,483 67 33 1,416 1,449 332013 427 0 0 427 427 02014 496 17 16 479 495 02015 307 8 6 299 305 22016 234 29 20 206 226 82017 306 119 77 187 263 422018 340 224 97 116 214 1262019 345 118 118 227

TOTAL $21,492 $463 $369 $20,684 $21,053 $439

Notes:(1) - For 2018 and prior, ultimate losses based from Exhibit III, Page 1B, Column (1). For 2019, ultimate loss is the projected loss in Exhibit III, Page 6A.(2) - For 2018 and prior, loss reserves based from Exhibit III, Page 1B, Column (6).(3) - From Exhibit III, Page 9.(4) - From Exhibit III, Page 1B. Column (5).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED






EXHIBIT IIIPAGE 1D OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $614 0 0 $614 $614 01995 1,078 0 0 1,078 1,078 01996 245 0 0 245 245 01997 657 0 0 657 657 01998 1,630 0 0 1,630 1,630 01999 1,594 0 0 1,594 1,594 02000 857 0 0 857 857 02001 2,363 0 0 2,363 2,363 02002 1,737 0 0 1,737 1,737 02003 445 0 0 445 445 02004 965 0 0 965 965 02005 329 0 0 329 329 02006 510 0 0 510 510 02007 309 0 0 309 309 02008 418 0 0 418 418 02009 322 0 0 322 322 02010 2,813 0 0 2,813 2,813 02011 666 0 0 666 666 02012 1,483 33 34 1,449 1,484 -12013 427 0 0 427 427 02014 496 0 0 495 496 02015 307 2 2 305 307 02016 234 8 6 226 232 22017 306 42 30 263 293 122018 340 126 81 214 295 452019 345 227 99 118 217 1282020 351 120 120 231

TOTAL $21,843 $439 $373 $21,053 $21,426 $417

Notes:(1) - For 2019 and prior, ultimate losses based from Exhibit III, Page 1C, Column (1). For 2020, ultimate loss is the projected loss in Exhibit III, Page 6A.(2) - For 2019 and prior, loss reserves based from Exhibit III, Page 1C, Column (6).(3) - From Exhibit III, Page 9.(4) - From Exhibit III, Page 1C. Column (5).(5) = (3) + (4)(6) = (1) - (5)* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED






EXHIBIT IIIPAGE 2 OF 9

UNLIMITED INCURRED LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED NUMBER OF LOSSYEAR* @6/30/2017 FACTORS LOSSES VEHICLES RATE

(1) (2) (3) (4) (5)

Prior1994 $614 1.000 $614 N/A1995 1,078 1.000 1,078 N/A1996 245 1.000 245 N/A1997 657 1.000 657 N/A1998 1,630 1.000 1,630 N/A1999 1,594 1.000 1,594 N/A2000 857 1.000 857 N/A2001 2,363 1.000 2,363 N/A2002 1,737 1.000 1,737 N/A2003 445 1.000 445 4,481 0.0992004 965 1.000 965 3,545 0.2722005 329 1.000 329 2,608 0.1262006 510 1.000 510 2,608 0.1962007 309 1.000 309 2,608 0.1182008 418 1.000 418 2,700 0.1552009 322 1.000 322 2,669 0.1212010 2,813 1.000 2,813 2,696 1.0432011 666 1.000 666 5,587 0.1192012 1,483 1.000 1,483 6,334 0.2342013 425 1.002 426 7,220 0.0592014 496 1.006 499 7,275 0.0692015 283 1.029 291 7,717 0.0382016 157 1.220 192 7,717 0.0252017 148 308 7,054 0.044

TOTAL $20,545 $20,751

UNLIMITED PAID LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED NUMBER OF LOSSYEAR* @6/30/2017 FACTORS LOSSES VEHICLES RATE

(6) (7) (8) (9) (10)

Prior1994 $614 1.000 $614 N/A1995 1,078 1.000 1,078 N/A1996 245 1.000 245 N/A1997 657 1.000 657 N/A1998 1,630 1.000 1,630 N/A1999 1,594 1.000 1,594 N/A2000 857 1.000 857 N/A2001 2,363 1.000 2,363 N/A2002 1,737 1.000 1,737 N/A2003 445 1.000 445 4,481 0.0992004 965 1.000 965 3,545 0.2722005 329 1.000 329 2,608 0.1262006 510 1.000 510 2,608 0.1962007 309 1.000 309 2,608 0.1182008 418 1.000 418 2,700 0.1552009 322 1.000 322 2,669 0.1212010 2,813 1.000 2,813 2,696 1.0432011 666 1.000 666 5,587 0.1192012 1,383 1.000 1,383 6,334 0.2182013 425 1.009 429 7,220 0.0592014 426 1.039 443 7,275 0.0612015 278 1.152 321 7,717 0.0422016 154 1.590 245 7,717 0.0322017 95 316 7,054 0.045

TOTAL $20,314 $20,689

Notes:(1), (4), (6) & (9) - Per STATE OF ALASKA. (2) & (7) - Per State's historical loss pattern, supplemented by AM Best insurance industry historical loss patterns.(3) = (1) x (2); (8) = (6) x (7). If ultimate incurred losses in (8) are less than the incurred losses in (1), we used


AUTO LIABILITY






R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\LDA10/12/2017 11:14 AM




REPORT LOSS NUMBER OF ULTIMATE OF LOSSES IBNR LOSSES INCURREDYEAR* RATE VEHICLES LOSSES UNREPORTED RESERVES @6/30/2017 LOSSES

(1) (2) (3) (4) (5) (6) (7)

Prior1994 0.044 N/A $614 0.0% $0 $614 $6141995 0.044 N/A 1,078 0.0% 0 1,078 1,0781996 0.044 N/A 245 0.0% 0 245 2451997 0.044 N/A 657 0.0% 0 657 6571998 0.044 N/A 1,630 0.0% 0 1,630 1,6301999 0.044 N/A 1,594 0.0% 0 1,594 1,5942000 0.044 N/A 857 0.0% 0 857 8572001 0.044 N/A 2,363 0.0% 0 2,363 2,3632002 0.044 N/A 1,737 0.0% 0 1,737 1,7372003 0.044 4,481 198 0.0% 0 445 4452004 0.044 3,545 157 0.0% 0 965 9652005 0.044 2,608 115 0.0% 0 329 3292006 0.044 2,608 115 0.0% 0 510 5102007 0.044 2,608 115 0.0% 0 309 3092008 0.044 2,700 119 0.0% 0 418 4182009 0.044 2,669 118 0.0% 0 322 3222010 0.044 2,696 119 0.0% 0 2,813 2,8132011 0.044 5,587 247 0.0% 0 666 6662012 0.044 6,334 280 0.0% 0 1,483 1,4832013 0.044 7,220 319 0.2% 1 425 4262014 0.044 7,275 322 0.6% 2 496 4982015 0.044 7,717 341 2.8% 10 283 2932016 0.044 7,717 341 18.1% 62 157 2192017 0.044 7,054 312 48.1% 150 148 298

TOTAL $13,996 $225 $20,545 $20,770

ESTIMATED EXPECTED EXPECTED % UNLIMITED PAID ULTIMATEREPORT LOSS NUMBER OF ULTIMATE OF LOSSES LOSS LOSSES INCURREDYEAR* RATE VEHICLES LOSSES UNPAID RESERVES @6/30/2017 LOSSES

(8) (9) (10) (11) (12) (13) (14)

Prior1994 0.044 N/A $614 0.0% $0 $614 $6141995 0.044 N/A 1,078 0.0% 0 1,078 1,0781996 0.044 N/A 245 0.0% 0 245 2451997 0.044 N/A 657 0.0% 0 657 6571998 0.044 N/A 1,630 0.0% 0 1,630 1,6301999 0.044 N/A 1,594 0.0% 0 1,594 1,5942000 0.044 N/A 857 0.0% 0 857 8572001 0.044 N/A 2,363 0.0% 0 2,363 2,3632002 0.044 N/A 1,737 0.0% 0 1,737 1,7372003 0.044 4,481 198 0.0% 0 445 4452004 0.044 3,545 157 0.0% 0 965 9652005 0.044 2,608 115 0.0% 0 329 3292006 0.044 2,608 115 0.0% 0 510 5102007 0.044 2,608 115 0.0% 0 309 3092008 0.044 2,700 119 0.0% 0 418 4182009 0.044 2,669 118 0.0% 0 322 3222010 0.044 2,696 119 0.0% 0 2,813 2,8132011 0.044 5,587 247 0.0% 0 666 6662012 0.044 6,334 280 0.0% 0 1,383 1,4832013 0.044 7,220 319 0.9% 3 425 4282014 0.044 7,275 322 3.8% 12 426 4962015 0.044 7,717 341 13.2% 45 278 3232016 0.044 7,717 341 37.1% 127 154 2812017 0.044 7,054 312 65.8% 205 95 300

TOTAL $13,996 $392 $20,314 $20,864

Notes:(1) & (8) - The average of the loss rates of prior years as shown in Columns (5) and (10) of Exhibit III, Page 2.(2) & (9) - Per STATE OF ALASKA.(3) = (1) x (2); (10) = (8) x (9). For 2002 & prior, average of Exhibit III, Columns (5) & (10).(4) = (1 - (1/ILDF)); (11) = (1 - (1/PLDF)).(5) = (3) x (4); (12) = (10) x (11).(6) & (13) - Per STATE OF ALASKA.(7) = (5) + (6); (14) = (12) + (13). If ultimate incurred losses in (14) are less than the incurred losses in (6), we used the incurred losses in (6).* All Report Years are 12-month periods ending 6/30 of the stated year.





UNLIMITED

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\BFA10/12/2017 11:14 AM




1994 6141995 1,096 1,0961996 245 245 2451997 657 657 657 6571998 1,630 1,630 1,630 1,630 1,6301999 1,595 1,595 1,595 1,594 1,595 1,5952000 852 857 857 857 857 857 8572001 2,363 2,363 2,363 2,363 2,363 2,363 2,363 2,3632002 1,078 1,827 1,737 1,737 1,737 1,737 1,737 1,737 1,7372003 485 480 445 445 445 445 445 445 445 4452004 549 648 954 969 970 964 964 965 965 965 9652005 389 322 335 330 329 329 329 329 329 329 329 3292006 403 183 286 419 454 554 512 512 512 512 512 5102007 338 360 363 352 309 309 309 309 309 309 3092008 299 487 449 420 418 418 418 418 418 4182009 342 413 333 322 322 322 322 322 3222010 1,197 2,807 2,875 2,935 2,935 2,813 2,813 2,8132011 334 522 663 663 664 667 6662012 321 1,127 1,452 1,471 1,471 1,4832013 380 437 423 443 4252014 264 316 361 4962015 181 208 2832016 172 1572017 148



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 0.999 1.001 1.000 1.0002000 1.006 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002002 1.695 0.951 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 0.990 0.927 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002004 1.180 1.472 1.016 1.001 0.994 1.000 1.001 1.000 1.000 1.000 1.0002005 0.828 1.040 0.985 0.997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0012006 0.454 1.563 1.465 1.084 1.220 0.924 1.000 1.000 1.000 1.000 0.9972007 1.065 1.008 0.970 0.878 1.000 1.000 1.000 1.000 1.000 1.0002008 1.629 0.922 0.935 0.995 1.000 1.000 1.000 1.000 1.0002009 1.208 0.806 0.967 1.000 1.000 1.000 1.000 1.0012010 2.345 1.024 1.021 1.000 0.958 1.000 1.0002011 1.563 1.270 1.000 1.002 1.005 0.9992012 3.511 1.288 1.013 1.000 1.0082013 1.150 0.968 1.047 0.9592014 1.197 1.142 1.3732015 1.149 1.3592016 0.913

AVERAGE 1.418 1.131 1.103 1.046 1.012 0.994 1.000 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.086 1.156 1.144 0.987 0.990 1.000 1.000 1.000 1.000 1.000 0.999 1.000





DEVELOPMENT MONTHS




UNLIMITED

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1994 614 614 614 614 614 614 614 614 614 614 614 6141995 1,096 1,078 1,096 1,096 1,096 1,078 1,078 1,078 1,078 1,078 1,0781996 245 245 245 245 245 245 245 245 245 2451997 657 657 657 657 657 657 657 657 6571998 1,630 1,630 1,630 1,630 1,630 1,630 1,630 1,6301999 1,595 1,594 1,594 1,594 1,594 1,594 1,5942000 857 857 857 857 857 8572001 2,363 2,363 2,363 2,363 2,3632002 1,737 1,737 1,737 1,7372003 445 445 4452004 965 9652005 329200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001995 0.984 1.017 1.000 1.000 0.984 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 0.999 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0012004 1.000200520062007200820092010201120122013201420152016

AVERAGE 0.998 1.002 1.000 1.000 0.998 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000





DEVELOPMENT MONTHS




UNLIMITED

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017/TRI_INC_210/12/2017 11:14 AM




1994 6141995 1,078 1,0781996 245 245 2451997 657 657 657 6571998 1,630 1,630 1,630 1,630 1,6301999 1,594 1,594 1,594 1,594 1,594 1,5952000 852 857 857 857 857 857 8572001 2,363 2,363 2,363 2,363 2,363 2,363 2,363 2,3632002 411 535 1,737 1,737 1,737 1,737 1,737 1,737 1,7372003 445 445 445 445 445 445 445 445 445 4452004 525 567 949 964 965 964 964 965 965 965 9652005 183 255 329 329 329 329 329 329 329 329 329 3292006 97 114 195 268 377 489 512 512 512 512 512 5102007 258 303 309 309 309 309 309 309 309 309 3092008 227 364 418 418 418 418 418 418 418 4182009 259 297 322 322 322 322 322 322 3222010 340 2,279 2,446 2,813 2,813 2,813 2,813 2,8132011 130 260 663 663 664 666 6662012 310 352 1,343 1,349 1,363 1,3832013 355 362 423 425 4252014 209 266 336 4262015 100 192 2782016 95 1542017 95



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.001 1.0002000 1.006 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002002 1.302 3.247 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002004 1.080 1.674 1.016 1.001 0.999 1.000 1.001 1.000 1.000 1.000 1.0002005 1.393 1.290 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0012006 1.175 1.711 1.374 1.407 1.297 1.047 1.000 1.000 1.000 1.000 0.9972007 1.174 1.020 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 1.604 1.148 1.000 1.000 1.000 1.000 1.000 1.000 1.0002009 1.147 1.084 1.000 1.000 1.000 1.000 1.000 1.0012010 6.703 1.073 1.150 1.000 1.000 1.000 1.0002011 2.000 2.550 1.000 1.002 1.003 1.0002012 1.135 3.815 1.004 1.010 1.0142013 1.020 1.169 1.005 1.0002014 1.273 1.263 1.2672015 1.920 1.4502016 1.620

AVERAGE 1.847 1.554 1.123 1.061 1.214 1.004 1.000 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.604 1.294 1.092 1.004 1.006 1.000 1.000 1.000 1.000 1.000 0.999 1.000





UNLIMITED

DEVELOPMENT MONTHS




R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017/TRI_PAID10/12/2017 11:14 AM




1994 614 614 614 614 614 614 614 614 614 614 614 6141995 1,078 1,078 1,078 1,096 1,096 1,078 1,078 1,078 1,078 1,078 1,0781996 245 245 245 245 245 245 245 245 245 2451997 657 657 657 657 657 657 657 657 6571998 1,630 1,630 1,630 1,630 1,630 1,630 1,630 1,6301999 1,595 1,594 1,594 1,594 1,594 1,594 1,5942000 857 857 857 857 857 8572001 2,363 2,363 2,363 2,363 2,3632002 1,737 1,737 1,737 1,7372003 445 445 4452004 965 9652005 329200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 1.017 1.000 0.984 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 0.999 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0012004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.000 1.002 1.000 0.998 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000






DEVELOPMENT MONTHS



AUTO LIABILITY

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EXHIBIT IIIPAGE 4E OF 9


1994 3481995 416 4161996 308 308 3081997 330 330 330 3301998 343 343 343 343 3431999 404 404 404 404 404 4042000 314 314 314 314 314 314 3142001 298 298 298 298 298 298 298 2982002 313 313 313 313 313 313 313 313 3132003 223 223 223 223 223 223 223 223 223 2232004 302 302 302 302 302 302 302 302 300 300 3002005 263 275 276 276 276 276 276 276 274 274 274 2742006 84 95 96 96 96 96 96 96 96 96 96 962007 147 159 159 159 159 159 159 159 159 159 1592008 160 171 172 172 172 172 172 172 172 1722009 147 175 175 175 172 172 173 173 1722010 181 187 187 187 187 187 187 1872011 170 183 183 183 183 183 1832012 271 291 291 294 294 2912013 218 231 233 234 2332014 169 176 178 1782015 102 108 1092016 85 882017 72



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0032002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0132004 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.993 1.000 1.000 1.0002005 1.046 1.004 1.000 1.000 1.000 1.000 1.000 0.993 1.000 1.000 1.000 1.0002006 1.131 1.011 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002007 1.082 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 1.069 1.006 1.000 1.000 1.000 1.000 1.000 1.000 1.0002009 1.190 1.000 1.000 0.983 1.000 1.006 1.000 0.9942010 1.033 1.000 1.000 1.000 1.000 1.000 1.0002011 1.076 1.000 1.000 1.000 1.000 1.0002012 1.074 1.000 1.010 1.000 0.9902013 1.060 1.009 1.004 0.9962014 1.041 1.011 1.0002015 1.059 1.0092016 1.035

AVERAGE 1.075 1.004 1.001 0.998 0.999 1.001 1.000 0.999 0.999 1.000 1.000 1.0013 YR AVG. 1.045 1.010 1.005 0.999 0.997 1.002 1.000 0.998 1.000 1.000 1.000 1.004



CUMULATIVE 1.068 1.007 1.002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



AUTO LIABILITY

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EXHIBIT IIIPAGE 4F OF 9


1994 348 348 348 348 348 348 348 348 348 348 348 3481995 416 416 416 416 416 416 416 416 416 416 4161996 308 308 308 308 308 308 308 308 308 3071997 330 330 330 330 330 330 330 330 3301998 343 343 343 343 343 343 343 3431999 404 404 404 404 404 404 4042000 314 313 313 313 313 3132001 299 299 299 299 2992002 313 313 313 3132003 226 226 2212004 300 3002005 274200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9971997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 0.997 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 0.9782004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 0.998 1.000 1.000 1.000 1.000 1.000 1.000 0.999 1.0003 YR AVG. 1.000 0.993 1.000 1.000 1.000 1.000 1.000 1.000 0.999



CUMULATIVE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



AUTO LIABILITY

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017/TRI_COUNT_210/12/2017 11:14 AM





AUTO LIABILITY


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 100 1.000 100 02013 2 1.000 2 02014 70 0.978 68 22015 29 0.975 28 12016 80 0.972 78 22017 211 0.962 203 8

TOTAL $493 $480 $13


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit III, Page 1A, Column (7).(2) - Per AMI calculations, see Appendix A, Page 3.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.



$480795

1,7281,091

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\DISC_RSV_110/12/2017 11:14 AM




CALCULATION OF DISCOUNTED RESERVESAUTO LIABILITY


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 67 1.000 67 02013 0 1.000 0 02014 17 1.000 17 02015 8 0.978 8 02016 29 0.975 28 12017 119 0.972 116 32018 224 0.962 215 9

TOTAL $463 $450 $13


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit III, Page 1B, Column (6).(2) - Per AMI calculations, see Appendix A, Page 3.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2018


$450746

1,0221,620








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 33 1.000 33 02013 0 1.000 0 02014 0 1.000 0 02015 2 1.000 2 02016 8 0.978 8 02017 42 0.975 41 12018 126 0.972 123 42019 227 0.962 218 9

TOTAL $439 $426 $14


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit III, Page 1C, Column (6).(2) - Per AMI calculations, see Appendix A, Page 3.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2019


$426705967

1,532








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 -1 1.000 -1 02013 0 1.000 0 02014 0 1.000 0 02015 0 1.000 0 02016 2 1.000 2 02017 12 0.978 12 02018 45 0.975 44 12019 128 0.972 124 42020 231 0.962 222 9

TOTAL $417 $403 $14


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit III, Page 1D, Column (6).(2) - Per AMI calculations, see Appendix A, Page 3.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2020


$403668916

1,451







AUTO LIABILITY


REPORT ULTIMATE NUMBER OF LOSSYEAR* LOSSES VEHICLES RATE

(1) (2) (3)

Prior1994 $614 N/A1995 1,078 N/A1996 245 N/A1997 657 N/A1998 1,630 N/A1999 1,594 N/A2000 857 N/A2001 2,363 N/A2002 1,737 N/A2003 445 4,481 0.102004 965 3,545 0.272005 329 2,608 0.132006 510 2,608 0.202007 309 2,608 0.122008 418 2,700 0.162009 322 2,669 0.122010 2,813 2,696 1.042011 666 5,587 0.122012 1,483 6,334 0.232013 427 7,220 0.062014 496 7,275 0.072015 307 7,717 0.042016 234 7,717 0.032017 306 7,054 0.04

(PROJ.) 2017/2018 $340 7,089 0.05(PROJ.) 2018/2019 345 7,125 0.05(PROJ.) 2019/2020 351 7,160 0.05



(4) (5) (6) (7)

2018 $340 0.951 $323 $172019 345 0.951 328 172020 351 0.951 334 17



(8) (9) (10) (11)

2018 $323 $328 $473 $1,0562019 328 334 480 1,0732020 334 340 489 1,092

Notes:(1) - Per Exhibit III, Page 1A, Column (5). For projected years, (1) = (2) x (3).(2) - Per STATE OF ALASKA.(3) = (1) / (2). For the projected years, it is the trended average of prior years(4) = (1); (5) - Per Appendix A, Page 3, Column (7).(6) = (4) x (5); (7)= (4) - (6).(8) = (6).(9) to (11) - Based on Monte Carlo Simulation.* All Report Years are 12-month periods ending 6/30 of the stated year.


R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\PROJ_UNLIM10/12/2017 11:14 AM





AUTO LIABILITY



(1) (2) (3)

2018 $340 0.700 $2382019 345 0.700 2422020 351 0.700 246

Notes:(1) - Per Exhibit III, Page 6A, Column (4).(2) - Based on industry increased limits factors for the STATE OF ALASKA.(3) = (1) * (2)* All Report Years are 12-month periods ending 6/30 of the stated year.


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REPORT REPORTED DEVELOPMENT CLAIM ULTIMATE NUMBER OF 1,000 VEHICLES (SEVERITY)YEAR* @6/30/2017 FACTORS COUNT LOSSES VEHICLES (FREQUENCY) (WHOLE DOLLARS)

(1) (2) (3) (4) (5) (6) (7)

1994 348 1.000 348 $614 N/A $17651995 416 1.000 416 1,078 N/A 2,5911996 307 1.000 307 245 N/A 7981997 330 1.000 330 657 N/A 1,9921998 343 1.000 343 1,630 N/A 4,7521999 404 1.000 404 1,594 N/A 3,9462000 313 1.000 313 857 N/A 2,7382001 299 1.000 299 2,363 N/A 7,9042002 313 1.000 313 1,737 N/A 5,5492003 221 1.000 221 445 4,481 49 2,0152004 300 1.000 300 965 3,545 85 3,2162005 274 1.000 274 329 2,608 105 1,2022006 96 1.000 96 510 2,608 37 5,3162007 159 1.000 159 309 2,608 61 1,9432008 172 1.000 172 418 2,700 64 2,4312009 172 1.000 172 322 2,669 64 1,8742010 187 1.000 187 2,813 2,696 69 15,0462011 183 1.000 183 666 5,587 33 3,6422012 291 1.000 291 1,483 6,334 46 5,0962013 233 1.000 233 427 7,220 32 1,8342014 178 1.000 178 496 7,275 24 2,7862015 109 1.002 109 307 7,717 14 2,8132016 88 1.007 89 234 7,717 11 2,6422017 72 1.068 77 306 7,054 11 3,973

TOTAL 4,064 4,069 $16,582

Notes:(1) & (5) - Per STATE OF ALASKA.(2) - Per STATE OF ALASKA's historical loss patterns. (3) = (1) x (2). (4) = Exhibit III, Page 1A, Column (5).(6) = [(3) / [(5) / 1000]] ; (7) = [(3) / (4)] x 1000.* All Report Years are 12-month periods ending 6/30 of the stated year.

UNLIMITED



AUTO LIABILITY

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\LDA_COUNT10/12/2017 11:14 AM



1 2 3 4 5 6 7 8 9 1034.2% 62.9% 86.8% 96.2% 99.1% 100.0% 100.0% 100.0% 100.0% 100.0%34.2% 28.7% 23.9% 9.4% 2.9% 0.9% 0.0% 0.0% 0.0% 0.0%

43.6% 36.3% 14.3% 4.4% 1.4% 0.0% 0.0% 0.0% 0.0%34.2% 28.7% 23.9% 9.4% 2.9% 0.9% 0.0% 0.0% 0.0% 0.0%


Prior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $01994 $614 0 0 0 0 0 0 0 0 0 0 01995 1,078 0 0 0 0 0 0 0 0 0 0 01996 245 0 0 0 0 0 0 0 0 0 0 01997 657 0 0 0 0 0 0 0 0 0 0 01998 1,630 0 0 0 0 0 0 0 0 0 0 01999 1,594 0 0 0 0 0 0 0 0 0 0 02000 857 0 0 0 0 0 0 0 0 0 0 02001 2,363 0 0 0 0 0 0 0 0 0 0 02002 1,737 0 0 0 0 0 0 0 0 0 0 02003 445 0 0 0 0 0 0 0 0 0 0 02004 965 0 0 0 0 0 0 0 0 0 0 02005 329 0 0 0 0 0 0 0 0 0 0 02006 510 0 0 0 0 0 0 0 0 0 0 02007 309 0 0 0 0 0 0 0 0 0 0 02008 418 0 0 0 0 0 0 0 0 0 0 02009 322 0 0 0 0 0 0 0 0 0 0 02010 2,813 0 0 0 0 0 0 0 0 0 0 02011 666 0 0 0 0 0 0 0 0 0 0 02012 1,483 100 33 33 34 0 0 0 0 0 0 (1)2013 427 2 2 0 0 0 0 0 0 0 0 02014 496 70 53 16 0 0 0 0 0 0 0 02015 307 29 20 6 2 0 0 0 0 0 0 02016 234 80 52 20 6 2 0 0 0 0 0 02017 306 211 92 77 30 9 3 0 0 0 0 02018 340 116 97 81 32 10 3 0 0 0 02019 345 118 99 82 33 10 3 0 0 02020 351 120 101 84 33 10 3 0 0

TOTAL $21,843 $493 $370 $369 $373 $226 $129 $46 $13 $3 $0 -$1


UNLIMITED







AUTO LIABILITY

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\CASHFLOW_DISC10/12/2017 11:14 AM




(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)

Prior 2028 7328 168 111 55 26 8 10 3 1 2 97402010 15 158 7 1 3 2 0 0 0 0 1 1872011 38 137 3 4 0 0 0 1 0 0 0 1832012 130 145 11 3 0 0 1 0 0 0 1 2912013 113 101 9 8 1 1 0 0 0 0 0 2332014 37 130 4 4 2 0 1 0 0 0 0 1782015 26 77 1 2 2 0 1 0 0 0 0 1092016 34 45 6 3 0 0 0 0 0 0 0 882017 20 45 2 5 0 0 0 0 0 0 0 72

TOTAL 2441 8166 211 141 63 29 11 11 3 1 4 11081


Prior ($1) $5,150 $1,167 $1,766 $1,888 $1,912 $1,254 $3,442 $1,932 $975 $3,373 $22,8562010 0 157 48 11 113 161 0 0 0 0 2,323 2,8132011 0 122 18 60 0 0 0 466 0 0 0 6662012 0 150 78 41 0 0 162 0 0 0 1,053 1,4832013 0 124 63 133 48 57 0 0 0 0 0 4252014 0 140 26 70 96 0 164 0 0 0 0 4962015 0 87 5 31 57 0 102 0 0 0 0 2832016 0 64 44 49 0 0 0 0 0 0 0 1572017 0 56 15 78 0 0 0 0 0 0 0 148

TOTAL ($1) $6,051 $1,462 $2,239 $2,201 $2,130 $1,682 $3,907 $1,932 $975 $6,748 $29,327



REPORTED LOSSES



AUTO LIABILITY

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EXHIBIT IVPAGE 1A OF 9


(1) (2) (3) (4) (5) (6) (7)

Prior1994 $961 $961 $961 $961 $961 $961 $01995 2,768 2,768 2,768 2,768 2,768 2,768 01996 1,185 1,185 1,185 1,185 1,185 1,185 01997 3,264 3,264 3,264 3,264 3,264 3,264 01998 1,711 1,711 1,711 1,711 1,711 1,711 01999 1,982 1,982 1,982 1,982 1,982 1,982 02000 3,044 3,044 3,044 3,044 3,044 3,044 02001 3,531 3,531 3,531 3,531 3,531 3,531 02002 3,514 3,514 3,514 3,514 3,514 3,514 02003 2,943 2,943 2,943 2,943 2,943 2,943 02004 1,408 1,408 1,408 1,408 1,408 1,408 02005 667 667 667 667 667 667 02006 965 965 965 965 965 965 02007 1,936 1,936 1,936 1,936 1,936 1,936 02008 596 596 596 596 596 596 02009 1,332 1,332 1,332 1,332 1,332 1,332 02010 133 133 133 133 133 133 02011 660 660 660 660 660 660 02012 642 643 642 642 642 642 02013 880 880 880 880 880 814 652014 120 120 121 122 121 120 12015 66 72 69 141 87 64 232016 1,366 1,740 1,292 1,389 1,447 1,075 3722017 776 852 640 633 725 109 616

TOTAL $36,450 $36,907 $36,244 $36,408 $36,504 $35,426 $1,078

Notes:(1), (2), (3), & (4) - Ultimate losses calculated from Exhibit IV, Pages 2 & 3.(5) = Average of (1), (2), (3) & (4).(6) - Per STATE OF ALASKA(7) = (5) - (6).* All Report Years are 12-month periods ending 6/30 of the stated year.




MARINE($AMOUNTS IN '000s)

LIMITED TO RETENTION

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EXHIBIT IVPAGE 1B OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $961 0 0 $961 $961 01995 2,768 0 0 2,768 2,768 01996 1,185 0 0 1,185 1,185 01997 3,264 0 0 3,264 3,264 01998 1,711 0 0 1,711 1,711 01999 1,982 0 0 1,982 1,982 02000 3,044 0 0 3,044 3,044 02001 3,531 0 0 3,531 3,531 02002 3,514 0 0 3,514 3,514 02003 2,943 0 0 2,943 2,943 02004 1,408 0 0 1,408 1,408 02005 667 0 0 667 667 02006 965 0 0 965 965 02007 1,936 0 0 1,936 1,936 02008 596 0 0 596 596 02009 1,332 0 0 1,332 1,332 02010 133 0 0 133 133 02011 660 0 0 660 660 02012 642 0 0 642 642 02013 880 65 45 814 860 202014 121 1 1 120 120 02015 87 23 22 64 86 12016 1,447 372 259 1,075 1,334 1132017 725 616 251 109 360 3652018 776 276 276 500

TOTAL $37,280 $1,078 $855 $35,426 $36,280 $999

Notes:(1) - For 2017 and prior, ultimate losses based from Exhibit IV, Page 1A, Column (5). For 2018, ultimate loss is the projected loss in Exhibit IV, Page 6.(2) - For 2017 and prior, loss reserves based from Exhibit IV, Page 1A, Column (7).(3) - From Exhibit IV, Page 9.(4) - From Exhibit IV, Page 1A. Column (6).(5) = (3) + (4)(6) = (1) - (5)





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EXHIBIT IVPAGE 1C OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $961 0 0 $961 $961 01995 2,768 0 0 2,768 2,768 01996 1,185 0 0 1,185 1,185 01997 3,264 0 0 3,264 3,264 01998 1,711 0 0 1,711 1,711 01999 1,982 0 0 1,982 1,982 02000 3,044 0 0 3,044 3,044 02001 3,531 0 0 3,531 3,531 02002 3,514 0 0 3,514 3,514 02003 2,943 0 0 2,943 2,943 02004 1,408 0 0 1,408 1,408 02005 667 0 0 667 667 02006 965 0 0 965 965 02007 1,936 0 0 1,936 1,936 02008 596 0 0 596 596 02009 1,332 0 0 1,332 1,332 02010 133 0 0 133 133 02011 660 0 0 660 660 02012 642 0 0 642 642 02013 880 20 20 860 880 02014 121 0 0 120 120 02015 87 1 0 86 87 02016 1,447 113 110 1,334 1,443 32017 725 365 254 360 614 1112018 776 500 203 276 480 2962019 823 293 293 530

TOTAL $38,103 $999 $881 $36,280 $37,161 $941

Notes:(1) - For 2018 and prior, ultimate losses based from Exhibit IV, Page 1B, Column (1). For 2019, ultimate loss is the projected loss in Exhibit IV, Page 6.(2) - For 2018 and prior, loss reserves based from Exhibit IV, Page 1B, Column (6).(3) - From Exhibit IV, Page 9.(4) - From Exhibit IV, Page 1B. Column (5).(5) = (3) + (4)(6) = (1) - (5)







EXHIBIT IVPAGE 1D OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $961 0 0 $961 $961 01995 2,768 0 0 2,768 2,768 01996 1,185 0 0 1,185 1,185 01997 3,264 0 0 3,264 3,264 01998 1,711 0 0 1,711 1,711 01999 1,982 0 0 1,982 1,982 02000 3,044 0 0 3,044 3,044 02001 3,531 0 0 3,531 3,531 02002 3,514 0 0 3,514 3,514 02003 2,943 0 0 2,943 2,943 02004 1,408 0 0 1,408 1,408 02005 667 0 0 667 667 02006 965 0 0 965 965 02007 1,936 0 0 1,936 1,936 02008 596 0 0 596 596 02009 1,332 0 0 1,332 1,332 02010 133 0 0 133 133 02011 660 0 0 660 660 02012 642 0 0 642 642 02013 880 0 0 880 880 02014 121 0 0 120 121 02015 87 0 0 87 87 02016 1,447 3 2 1,443 1,446 12017 725 111 108 614 722 32018 776 296 206 480 686 902019 823 530 216 293 509 3142020 873 311 311 562

TOTAL $38,976 $941 $843 $37,161 $38,004 $971

Notes:(1) - For 2019 and prior, ultimate losses based from Exhibit IV, Page 1C, Column (1). For 2020, ultimate loss is the projected loss in Exhibit IV, Page 6.(2) - For 2019 and prior, loss reserves based from Exhibit IV, Page 1C, Column (6).(3) - From Exhibit IV, Page 9.(4) - From Exhibit IV, Page 1C. Column (5).(5) = (3) + (4)(6) = (1) - (5)







EXHIBIT IVPAGE 2 OF 9

LIMITED INCURRED LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED PROPERTY VALUE LOSSYEAR* @6/30/2017 FACTORS LOSSES ($MM) RATE

(1) (2) (3) (4) (5)

Prior1994 $961 1.000 $961 N/A1995 2,768 1.000 2,768 N/A1996 1,185 1.000 1,185 N/A1997 3,264 1.000 3,264 N/A1998 1,711 1.000 1,711 N/A1999 1,982 1.000 1,982 N/A2000 3,044 1.000 3,044 N/A2001 3,531 1.000 3,531 N/A2002 3,514 1.000 3,514 N/A2003 2,943 1.000 2,943 3,319 0.8872004 1,408 1.000 1,408 3,518 0.4002005 667 1.000 667 4,059 0.1642006 965 1.000 965 4,177 0.2312007 1,936 1.000 1,936 4,245 0.4562008 596 1.000 596 4,372 0.1362009 1,332 1.000 1,332 4,503 0.2962010 133 1.000 133 4,638 0.0292011 660 1.000 660 4,713 0.1402012 642 1.000 642 4,695 0.1372013 880 1.000 880 5,132 0.1712014 120 1.001 120 5,849 0.0212015 66 1.004 66 6,090 0.0112016 1,181 1.157 1,366 7,507 0.1822017 387 776 7,436 0.104

TOTAL $35,876 $36,450

LIMITED PAID LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED LOSSYEAR* @6/30/2017 FACTORS LOSSES ($MM) RATE

(6) (7) (8) (9) (10)

Prior1994 $961 1.000 $961 N/A1995 2,768 1.000 2,768 N/A1996 1,185 1.000 1,185 N/A1997 3,264 1.000 3,264 N/A1998 1,711 1.000 1,711 N/A1999 1,982 1.000 1,982 N/A2000 3,044 1.000 3,044 N/A2001 3,531 1.000 3,531 N/A2002 3,514 1.000 3,514 N/A2003 2,943 1.000 2,943 3,319 0.8872004 1,408 1.000 1,408 3,518 0.4002005 667 1.000 667 4,059 0.1642006 965 1.000 965 4,177 0.2312007 1,936 1.000 1,936 4,245 0.4562008 596 1.000 596 4,372 0.1362009 1,332 1.000 1,332 4,503 0.2962010 133 1.000 133 4,638 0.0292011 660 1.000 660 4,713 0.1402012 642 1.000 643 4,695 0.1372013 814 1.001 880 5,132 0.1712014 120 1.004 120 5,849 0.0212015 64 1.131 72 6,090 0.0122016 1,075 1.618 1,740 7,507 0.2322017 109 852 7,436 0.115

TOTAL $35,426 $36,907



MARINE





($AMOUNTS IN '000s)LIMITED TO RETENTION

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REPORT LOSS PROPERTY VALUE ULTIMATE OF LOSSES IBNR LOSSES INCURREDYEAR* RATE ($MM) LOSSES UNREPORTED RESERVES @6/30/2017 LOSSES

(1) (2) (3) (4) (5) (6) (7)

Prior1994 0.109 N/A $961 0.0% $0 $961 $9611995 0.109 N/A 2,768 0.0% 0 2,768 2,7681996 0.109 N/A 1,185 0.0% 0 1,185 1,1851997 0.109 N/A 3,264 0.0% 0 3,264 3,2641998 0.109 N/A 1,711 0.0% 0 1,711 1,7111999 0.109 N/A 1,982 0.0% 0 1,982 1,9822000 0.109 N/A 3,044 0.0% 0 3,044 3,0442001 0.109 N/A 3,531 0.0% 0 3,531 3,5312002 0.109 N/A 3,514 0.0% 0 3,514 3,5142003 0.109 3,319 363 0.0% 0 2,943 2,9432004 0.109 3,518 385 0.0% 0 1,408 1,4082005 0.109 4,059 444 0.0% 0 667 6672006 0.109 4,177 457 0.0% 0 965 9652007 0.109 4,245 464 0.0% 0 1,936 1,9362008 0.109 4,372 478 0.0% 0 596 5962009 0.109 4,503 493 0.0% 0 1,332 1,3322010 0.109 4,638 507 0.0% 0 133 1332011 0.109 4,713 516 0.0% 0 660 6602012 0.109 4,695 514 0.0% 0 642 6422013 0.109 5,132 561 0.0% 0 880 8802014 0.109 5,849 640 0.1% 1 120 1212015 0.109 6,090 666 0.4% 3 66 692016 0.109 7,507 821 13.5% 111 1,181 1,2922017 0.109 7,436 814 31.1% 253 387 640

TOTAL $30,084 $368 $35,876 $36,244

ESTIMATED EXPECTED EXPECTED % UNLIMITED PAID ULTIMATEREPORT LOSS PROPERTY VALUE ULTIMATE OF LOSSES LOSS LOSSES INCURREDYEAR* RATE ($MM) LOSSES UNPAID RESERVES @6/30/2017 LOSSES

(8) (9) (10) (11) (12) (13) (14)

Prior1994 0.109 N/A $961 0.0% $0 $961 $9611995 0.109 N/A 2,768 0.0% 0 2,768 2,7681996 0.109 N/A 1,185 0.0% 0 1,185 1,1851997 0.109 N/A 3,264 0.0% 0 3,264 3,2641998 0.109 N/A 1,711 0.0% 0 1,711 1,7111999 0.109 N/A 1,982 0.0% 0 1,982 1,9822000 0.109 N/A 3,044 0.0% 0 3,044 3,0442001 0.109 N/A 3,531 0.0% 0 3,531 3,5312002 0.109 N/A 3,514 0.0% 0 3,514 3,5142003 0.109 3,319 363 0.0% 0 2,943 2,9432004 0.109 3,518 385 0.0% 0 1,408 1,4082005 0.109 4,059 444 0.0% 0 667 6672006 0.109 4,177 457 0.0% 0 965 9652007 0.109 4,245 464 0.0% 0 1,936 1,9362008 0.109 4,372 478 0.0% 0 596 5962009 0.109 4,503 493 0.0% 0 1,332 1,3322010 0.109 4,638 507 0.0% 0 133 1332011 0.109 4,713 516 0.0% 0 660 6602012 0.109 4,695 514 0.0% 0 642 6422013 0.109 5,132 561 0.1% 1 814 8802014 0.109 5,849 640 0.4% 2 120 1222015 0.109 6,090 666 11.6% 77 64 1412016 0.109 7,507 821 38.2% 314 1,075 1,3892017 0.109 7,436 814 64.4% 524 109 633

TOTAL $30,084 $918 $35,426 $36,408

Notes:(1) & (8) - The average of the loss rates of prior years as shown in Columns (5) and (10) of Exhibit IV, Page 2.(2) & (9) - Per STATE OF ALASKA.(3) = (1) x (2); (10) = (8) x (9). For 2002 & prior, average of Exhibit IV, Columns (5) & (10).(4) = (1 - (1/ILDF)); (11) = (1 - (1/PLDF)).(5) = (3) x (4); (12) = (10) x (11).(6) & (13) - Per STATE OF ALASKA.(7) = (5) + (6); (14) = (12) + (13). If ultimate incurred losses in (14) are less than the incurred losses in (6), we used the incurred losses in (6).* All Report Years are 12-month periods ending 6/30 of the stated year.






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1994 9611995 2,768 2,7681996 1,185 1,185 1,1851997 3,264 3,264 3,264 3,2641998 1,711 1,711 1,711 1,711 1,7111999 1,981 1,982 1,982 1,982 1,982 1,9392000 3,068 3,048 3,044 3,044 3,044 2,977 2,9772001 3,503 3,532 3,532 3,531 3,532 3,204 3,204 3,5312002 3,013 3,184 3,511 3,512 3,514 3,355 3,355 3,514 3,5142003 2,606 2,610 2,791 2,942 2,946 2,911 2,912 2,944 2,943 2,9432004 1,408 1,477 1,479 1,492 1,413 1,408 1,408 1,408 1,408 1,408 1,4082005 737 962 687 667 682 682 682 667 667 667 667 6672006 685 749 749 938 1,158 1,058 965 965 965 965 965 9652007 1,670 1,977 1,966 1,936 1,936 1,936 1,936 1,936 1,936 1,936 1,9362008 132 669 690 596 596 596 596 596 596 5962009 884 1,104 1,336 1,332 1,332 1,332 1,332 1,332 1,3322010 155 159 133 133 133 133 133 1332011 1,018 565 660 660 660 660 6602012 1,192 629 866 652 642 6422013 417 654 789 880 8802014 192 120 120 1202015 45 43 662016 446 1,1812017 387



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 0.9771999 1.001 1.000 1.000 1.000 0.978 0.9992000 0.993 0.999 1.000 1.000 0.978 1.000 1.0232001 1.008 1.000 1.000 1.000 0.907 1.000 1.102 1.0002002 1.057 1.103 1.000 1.001 0.955 1.000 1.047 1.000 1.0002003 1.002 1.069 1.054 1.001 0.988 1.000 1.011 1.000 1.000 1.0002004 1.049 1.001 1.009 0.947 0.996 1.000 1.000 1.000 1.000 1.000 1.0002005 1.305 0.714 0.971 1.022 1.000 1.000 0.978 1.000 1.000 1.000 1.000 1.0002006 1.093 1.000 1.252 1.235 0.914 0.912 1.000 1.000 1.000 1.000 1.0002007 1.184 0.994 0.985 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 5.068 1.031 0.864 1.000 1.000 1.000 1.000 1.000 1.0012009 1.249 1.210 0.997 1.000 1.000 1.000 1.000 1.0002010 1.026 0.836 1.000 1.000 1.000 1.000 1.0042011 0.555 1.168 1.000 1.000 1.000 1.0002012 0.528 1.377 0.753 0.985 1.0012013 1.568 1.206 1.115 1.0002014 0.625 1.000 0.9972015 0.956 1.5272016 2.648

AVERAGE 1.484 1.093 0.995 1.031 1.002 0.992 0.998 0.996 0.993 1.002 1.007 1.0003 YR AVG. 1.410 1.244 0.955 0.995 1.000 1.000 1.001 1.000 1.000 1.000 1.000 1.000





DEVELOPMENT MONTHS





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1994 961 961 961 961 957 957 961 961 961 961 961 9611995 2,768 2,768 2,768 2,755 2,755 2,768 2,768 2,768 2,768 2,768 2,7681996 1,185 1,185 1,172 1,172 1,185 1,185 1,185 1,185 1,185 1,1851997 3,264 3,186 3,186 3,264 3,264 3,264 3,264 3,264 3,2641998 1,671 1,671 1,711 1,711 1,711 1,711 1,711 1,7111999 1,938 1,982 1,982 1,982 1,982 1,982 1,9822000 3,044 3,044 3,044 3,044 3,044 3,0442001 3,531 3,531 3,531 3,531 3,5312002 3,514 3,514 3,514 3,5142003 2,943 2,943 2,9432004 1,408 1,4082005 667200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 0.996 1.000 1.004 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 0.995 1.000 1.005 1.000 1.000 1.000 1.000 1.0001996 1.000 0.989 1.000 1.011 1.000 1.000 1.000 1.000 1.0001997 0.976 1.000 1.024 1.000 1.000 1.000 1.000 1.0001998 1.000 1.024 1.000 1.000 1.000 1.000 1.0001999 1.023 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.001 1.002 1.001 1.001 1.001 1.000 1.000 1.000 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000





DEVELOPMENT MONTHS





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1994 9611995 2,768 2,7681996 1,185 1,185 1,1851997 3,264 3,264 3,264 3,2641998 1,711 1,711 1,711 1,711 1,7111999 1,981 1,982 1,982 1,982 1,982 1,9382000 3,044 3,044 3,044 3,044 3,044 2,977 2,9772001 3,322 3,436 3,531 3,531 3,531 3,204 3,204 3,5312002 2,601 2,795 3,119 3,512 3,514 3,355 3,355 3,514 3,5142003 2,560 2,598 2,774 2,941 2,942 2,911 2,912 2,944 2,943 2,9432004 1,328 1,336 1,345 1,377 1,406 1,408 1,408 1,408 1,408 1,408 1,4082005 522 557 667 667 667 682 682 667 667 667 667 6672006 173 607 737 833 965 965 965 965 965 965 965 9652007 1,026 1,931 1,936 1,936 1,936 1,936 1,936 1,936 1,936 1,936 1,9362008 74 575 580 596 596 596 596 596 596 5962009 718 1,101 1,332 1,332 1,332 1,332 1,332 1,332 1,3322010 102 133 133 133 133 133 133 1332011 167 495 660 660 660 660 6602012 373 416 608 642 642 6422013 203 369 580 796 8142014 79 120 120 1202015 30 43 642016 314 1,0752017 109



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 0.9771999 1.001 1.000 1.000 1.000 0.978 1.0002000 1.000 1.000 1.000 1.000 0.978 1.000 1.0232001 1.034 1.028 1.000 1.000 0.907 1.000 1.102 1.0002002 1.075 1.116 1.126 1.001 0.955 1.000 1.047 1.000 1.0002003 1.015 1.068 1.060 1.000 0.989 1.000 1.011 1.000 1.000 1.0002004 1.006 1.007 1.024 1.021 1.001 1.000 1.000 1.000 1.000 1.000 1.0002005 1.067 1.197 1.000 1.000 1.022 1.000 0.978 1.000 1.000 1.000 1.000 1.0002006 3.509 1.214 1.130 1.158 1.000 1.000 1.000 1.000 1.000 1.000 1.0002007 1.882 1.003 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 7.770 1.009 1.028 1.000 1.000 1.000 1.000 1.000 1.0012009 1.533 1.210 1.000 1.000 1.000 1.000 1.000 1.0002010 1.304 1.000 1.000 1.000 1.000 1.000 1.0042011 2.964 1.333 1.000 1.000 1.000 1.0002012 1.115 1.462 1.056 1.000 1.0012013 1.818 1.572 1.372 1.0232014 1.519 1.000 0.9972015 1.433 1.4842016 3.425

AVERAGE 2.445 1.208 1.050 1.029 1.021 1.013 0.998 0.996 0.993 1.002 1.007 1.0003 YR AVG. 1.966 1.352 1.142 1.008 1.000 1.000 1.001 1.000 1.000 1.000 1.000 1.000






DEVELOPMENT MONTHS




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1994 961 961 961 961 957 957 961 961 961 961 961 9611995 2,768 2,768 2,768 2,755 2,755 2,768 2,768 2,768 2,768 2,768 2,7681996 1,185 1,185 1,172 1,172 1,185 1,185 1,185 1,185 1,185 1,1851997 3,264 3,186 3,186 3,264 3,264 3,264 3,264 3,264 3,2641998 1,671 1,671 1,711 1,711 1,711 1,711 1,711 1,7111999 1,938 1,982 1,982 1,982 1,982 1,982 1,9822000 3,044 3,044 3,044 3,044 3,044 3,0442001 3,531 3,531 3,531 3,531 3,5312002 3,514 3,514 3,514 3,5142003 2,943 2,943 2,9432004 1,408 1,4082005 667200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 0.996 1.000 1.004 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 0.995 1.000 1.005 1.000 1.000 1.000 1.000 1.0001996 1.000 0.989 1.000 1.011 1.000 1.000 1.000 1.000 1.0001997 0.976 1.000 1.024 1.000 1.000 1.000 1.000 1.0001998 1.000 1.024 1.000 1.000 1.000 1.000 1.0001999 1.023 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.001 1.002 1.001 1.001 1.001 1.000 1.000 1.000 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000






DEVELOPMENT MONTHS



MARINE

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EXHIBIT IVPAGE 4E OF 9


1994 2211995 251 2511996 250 250 2501997 274 274 274 2741998 240 240 240 240 2401999 278 278 278 278 278 2782000 313 313 313 313 313 313 3132001 490 490 490 490 490 490 490 4902002 654 654 654 654 654 654 654 654 6542003 740 741 741 741 741 741 741 741 737 7372004 84 84 100 100 100 100 100 100 100 100 1002005 40 49 49 49 49 49 49 49 49 49 49 492006 33 40 40 40 40 40 40 40 40 40 40 402007 34 39 39 39 39 39 39 39 39 39 392008 33 36 36 36 36 36 36 36 36 362009 24 26 26 26 26 26 26 26 262010 30 38 38 38 38 38 38 382011 38 44 44 44 44 44 442012 47 50 51 51 51 502013 39 43 43 43 432014 14 16 16 162015 31 37 372016 16 222017 27



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9982003 1.001 1.000 1.000 1.000 1.000 1.000 1.000 0.995 1.000 1.0002004 1.000 1.190 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002005 1.225 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002006 1.212 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002007 1.147 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 1.091 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002009 1.083 1.000 1.000 1.000 1.000 1.000 1.000 1.0002010 1.267 1.000 1.000 1.000 1.000 1.000 1.0002011 1.158 1.000 1.000 1.000 1.000 1.0002012 1.064 1.020 1.000 1.000 0.9802013 1.103 1.000 1.000 1.0002014 1.143 1.000 1.0002015 1.194 1.0002016 1.375

AVERAGE 1.172 1.002 1.016 1.000 0.998 1.000 1.000 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.237 1.000 1.000 1.000 0.993 1.000 1.000 1.000 1.000 1.000 1.000 1.000



CUMULATIVE 1.180 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



MARINE

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EXHIBIT IVPAGE 4F OF 9


1994 221 221 221 221 221 221 221 221 221 221 221 2211995 251 251 251 251 251 251 251 251 251 251 2511996 250 250 250 250 250 250 250 250 250 2501997 274 274 274 274 274 274 274 274 2741998 240 240 240 240 240 240 240 2401999 278 278 278 278 278 278 2782000 313 313 313 313 313 3132001 490 490 490 490 4902002 653 653 653 6532003 737 737 7372004 100 1002005 49200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000



CUMULATIVE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



MARINE

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MARINE


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 65 1.000 65 02014 1 0.972 1 02015 23 0.984 23 02016 372 0.976 363 92017 616 0.963 593 23

TOTAL $1,078 $1,046 $32


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit IV, Page 1A, Column (7).(2) - Per AMI calculations, see Appendix A, Page 4.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.



$1,0461,390

2,2411,662

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CALCULATION OF DISCOUNTED RESERVESMARINE


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 20 1.000 20 02014 0 1.000 0 02015 1 0.972 1 02016 113 0.984 111 22017 365 0.976 357 92018 500 0.963 481 18

TOTAL $999 $970 $29


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit IV, Page 1B, Column (6).(2) - Per AMI calculations, see Appendix A, Page 4.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2018


$9701,2901,5412,079








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 0 1.000 0 02016 3 0.972 3 02017 111 0.984 109 22018 296 0.976 289 72019 530 0.963 510 20

TOTAL $941 $913 $28


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit IV, Page 1C, Column (6).(2) - Per AMI calculations, see Appendix A, Page 4.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2019


$9131,2131,4501,956








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 0 1.000 0 02016 1 1.000 1 02017 3 0.972 3 02018 90 0.984 89 12019 314 0.976 307 72020 562 0.963 541 21

TOTAL $971 $941 $30


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit IV, Page 1D, Column (6).(2) - Per AMI calculations, see Appendix A, Page 4.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2020


$9411,2521,4962,017







MARINE


REPORT ULTIMATE PROPERTY VALUE LOSSYEAR* LOSSES ($MM) RATE

(1) (2) (3)

Prior1994 $961 N/A1995 2,768 N/A1996 1,185 N/A1997 3,264 N/A1998 1,711 N/A1999 1,982 N/A2000 3,044 N/A2001 3,531 N/A2002 3,514 N/A2003 2,943 3,319 0.892004 1,408 3,518 0.402005 667 4,059 0.162006 965 4,177 0.232007 1,936 4,245 0.462008 596 4,372 0.142009 1,332 4,503 0.302010 133 4,638 0.032011 660 4,713 0.142012 642 4,695 0.142013 880 5,132 0.172014 121 5,849 0.022015 87 6,090 0.012016 1,447 7,507 0.192017 725 7,436 0.10

(PROJ.) 2017/2018 $776 7,808 0.10(PROJ.) 2018/2019 823 8,198 0.10(PROJ.) 2019/2020 873 8,608 0.10



(4) (5) (6) (7)

2018 $776 0.953 $739 $372019 823 0.953 784 392020 873 0.953 832 41



(8) (9) (10) (11)

2018 $739 $1,017 $1,229 $1,6482019 784 1,079 1,304 1,7482020 832 1,145 1,384 1,855

Notes:(1) - Per Exhibit IV, Page 1A, Column (5). For projected years, (1) = (2) x (3).(2) - Per STATE OF ALASKA.(3) = (1) / (2). For the projected years, it is the trended average of prior years(4) = (1); (5) - Per Appendix A, Page 4, Column (7).(6) = (4) x (5); (7)= (4) - (6).(8) = (6).(9) to (11) - Based on Monte Carlo Simulation.* All Report Years are 12-month periods ending 6/30 of the stated year.

LIMITED TO RETENTION($AMOUNTS IN '000s)

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NUMBER OF AVERAGECLAIMS ULTIMATE CLAIMS PER $BB CLAIM

REPORT REPORTED DEVELOPMENT CLAIM ULTIMATE PROPERTY VALUE PROPERTY VALUE (SEVERITY)YEAR* @6/30/2017 FACTORS COUNT LOSSES ($MM) (FREQUENCY) (WHOLE DOLLARS)

(1) (2) (3) (4) (5) (6) (7)

1994 221 1.000 221 $961 N/A $4,3481995 251 1.000 251 2,768 N/A 11,0271996 250 1.000 250 1,185 N/A 4,7411997 274 1.000 274 3,264 N/A 11,9121998 240 1.000 240 1,711 N/A 7,1291999 278 1.000 278 1,982 N/A 7,1302000 313 1.000 313 3,044 N/A 9,7252001 490 1.000 490 3,531 N/A 7,2062002 653 1.000 653 3,514 N/A 5,3812003 737 1.000 737 2,943 3,319 222 3,9932004 100 1.000 100 1,408 3,518 28 14,0792005 49 1.000 49 667 4,059 12 13,6092006 40 1.000 40 965 4,177 10 24,1292007 39 1.000 39 1,936 4,245 9 49,6532008 36 1.000 36 596 4,372 8 16,5682009 26 1.000 26 1,332 4,503 6 51,2502010 38 1.000 38 133 4,638 8 3,5132011 44 1.000 44 660 4,713 9 15,0032012 50 1.000 50 642 4,695 11 12,8502013 43 1.000 43 880 5,132 8 20,4662014 16 1.000 16 121 5,849 3 7,5392015 37 1.000 37 87 6,090 6 2,3482016 22 1.000 22 1,447 7,507 3 65,7552017 27 1.180 32 725 7,436 4 22,774

TOTAL 3,038 3,043 $26,615

Notes:(1) & (5) - Per STATE OF ALASKA.(2) - Per STATE OF ALASKA's historical loss patterns. (3) = (1) x (2). (4) = Exhibit IV, Page 1A, Column (5).(6) = [(3) / [(5) / 1000]] ; (7) = [(3) / (4)] x 1000.* All Report Years are 12-month periods ending 6/30 of the stated year.




MARINE

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1 2 3 4 5 6 7 8 9 1035.6% 61.8% 88.4% 99.6% 99.9% 100.0% 100.0% 100.0% 100.0% 100.0%35.6% 26.2% 26.6% 11.3% 0.2% 0.1% 0.0% 0.0% 0.0% 0.0%

40.7% 41.3% 17.5% 0.4% 0.1% 0.1% 0.0% 0.0% 0.0%35.6% 26.2% 26.6% 11.3% 0.2% 0.1% 0.0% 0.0% 0.0% 0.0%


Prior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $01994 $961 0 0 0 0 0 0 0 0 0 0 01995 2,768 0 0 0 0 0 0 0 0 0 0 01996 1,185 0 0 0 0 0 0 0 0 0 0 01997 3,264 0 0 0 0 0 0 0 0 0 0 01998 1,711 0 0 0 0 0 0 0 0 0 0 01999 1,982 0 0 0 0 0 0 0 0 0 0 02000 3,044 0 0 0 0 0 0 0 0 0 0 02001 3,531 0 0 0 0 0 0 0 0 0 0 02002 3,514 0 0 0 0 0 0 0 0 0 0 02003 2,943 0 0 0 0 0 0 0 0 0 0 02004 1,408 0 0 0 0 0 0 0 0 0 0 02005 667 0 0 0 0 0 0 0 0 0 0 02006 965 0 0 0 0 0 0 0 0 0 0 02007 1,936 0 0 0 0 0 0 0 0 0 0 02008 596 0 0 0 0 0 0 0 0 0 0 02009 1,332 0 0 0 0 0 0 0 0 0 0 02010 133 0 0 0 0 0 0 0 0 0 0 02011 660 0 0 0 0 0 0 0 0 0 0 02012 642 0 0 0 0 0 0 0 0 0 0 02013 880 65 45 20 0 0 0 0 0 0 0 02014 121 1 1 0 0 0 0 0 0 0 0 02015 87 23 22 0 0 0 0 0 0 0 0 02016 1,447 372 259 110 2 1 0 0 0 0 0 02017 725 616 251 254 108 2 1 0 0 0 0 02018 776 276 203 206 87 2 1 0 0 0 02019 823 293 216 219 93 2 1 0 0 02020 873 311 229 232 98 2 1 0 0

TOTAL $38,976 $1,078 $855 $881 $843 $538 $328 $101 $3 $1 $0 $0


($AMOUNTS IN '000s)








MARINE

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(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)

Prior 1,913 5,287 249 209 110 82 64 26 9 3 2 7,9542010 5 27 3 2 1 0 0 0 0 0 0 382011 9 22 4 2 5 0 2 0 0 0 0 442012 22 17 0 3 2 5 1 0 0 0 0 502013 22 13 2 0 1 3 1 1 0 0 0 432014 5 7 0 2 1 1 0 0 0 0 0 162015 14 21 1 1 0 0 0 0 0 0 0 372016 9 7 1 0 2 0 2 0 0 0 1 222017 5 19 1 0 0 1 1 0 0 0 0 27

TOTAL 2,004 5,420 261 219 122 92 71 27 9 3 3 8,231


Prior ($2,808) $4,031 $1,720 $3,404 $3,850 $5,798 $10,301 $9,207 $5,199 $2,553 $2,321 $45,5762010 0 29 18 43 43 0 0 0 0 0 0 1332011 0 19 32 44 172 0 392 0 0 0 0 6602012 0 24 0 44 74 379 121 0 0 0 0 6422013 0 12 16 0 42 239 114 457 0 0 0 8802014 0 13 0 25 30 52 0 0 0 0 0 1202015 0 38 8 20 0 0 0 0 0 0 0 662016 0 15 5 0 73 0 338 0 0 0 1,500 1,9312017 0 29 10 0 0 98 250 0 0 0 0 387

TOTAL ($2,808) $4,210 $1,810 $3,580 $4,284 $6,567 $11,516 $9,664 $5,199 $2,553 $3,821 $50,396



REPORTED LOSSES



MARINE

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EXHIBIT VPAGE 1A OF 9


(1) (2) (3) (4) (5) (6) (7)

Prior1994 $239 $239 $239 $239 $239 $239 $01995 370 370 370 370 370 370 01996 61 61 61 61 61 61 01997 130 130 130 130 130 130 01998 461 461 461 461 461 461 01999 165 165 165 165 165 165 02000 109 109 109 109 109 109 02001 795 795 795 795 795 795 02002 251 251 251 251 251 251 02003 100 100 100 100 100 100 02004 15 15 15 15 15 15 02005 96 96 96 96 96 96 02006 392 392 392 392 392 392 02007 26 26 26 26 26 26 02008 486 486 486 486 486 486 02009 864 864 864 864 864 864 02010 37 37 37 37 37 37 02011 395 395 395 395 395 395 02012 412 412 412 412 412 412 02013 324 332 324 330 327 324 42014 13 14 14 38 20 12 82015 312 391 309 350 341 292 492016 0 0 17 112 65 0 652017 220 249 259 301 257 129 128

TOTAL $6,273 $6,390 $6,327 $6,534 $6,415 $6,160 $254

Notes:(1), (2), (3), & (4) - Ultimate losses calculated from Exhibit V, Pages 2 & 3.(5) = Average of (1), (2), (3) & (4).(6) - Per STATE OF ALASKA(7) = (5) - (6).* All Report Years are 12-month periods ending 6/30 of the stated year.




AVIATION($AMOUNTS IN '000s)


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EXHIBIT VPAGE 1B OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $239 0 0 $239 $239 01995 370 0 0 370 370 01996 61 0 0 61 61 01997 130 0 0 130 130 01998 461 0 0 461 461 01999 165 0 0 165 165 02000 109 0 0 109 109 02001 795 0 0 795 795 02002 251 0 0 251 251 02003 100 0 0 100 100 02004 15 0 0 15 15 02005 96 0 0 96 96 02006 392 0 0 392 392 02007 26 0 0 26 26 02008 486 0 0 486 486 02009 864 0 0 864 864 02010 37 0 0 37 37 02011 395 0 0 395 395 02012 412 0 0 412 412 02013 327 4 4 324 327 02014 20 8 6 12 18 22015 341 49 27 292 319 222016 65 65 30 0 30 342017 257 128 45 129 174 842018 301 80 80 221

TOTAL $6,716 $254 $193 $6,160 $6,353 $362

Notes:(1) - For 2017 and prior, ultimate losses based from Exhibit V, Page 1A, Column (5). For 2018, ultimate loss is the projected loss in Exhibit V, Page 6.(2) - For 2017 and prior, loss reserves based from Exhibit V, Page 1A, Column (7).(3) - From Exhibit V, Page 9.(4) - From Exhibit V, Page 1A. Column (6).(5) = (3) + (4)(6) = (1) - (5)





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EXHIBIT VPAGE 1C OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $239 0 0 $239 $239 01995 370 0 0 370 370 01996 61 0 0 61 61 01997 130 0 0 130 130 01998 461 0 0 461 461 01999 165 0 0 165 165 02000 109 0 0 109 109 02001 795 0 0 795 795 02002 251 0 0 251 251 02003 100 0 0 100 100 02004 15 0 0 15 15 02005 96 0 0 96 96 02006 392 0 0 392 392 02007 26 0 0 26 26 02008 486 0 0 486 486 02009 864 0 0 864 864 02010 37 0 0 37 37 02011 395 0 0 395 395 02012 412 0 0 412 412 02013 327 0 0 327 327 02014 20 2 2 18 20 02015 341 22 17 319 336 52016 65 34 19 30 49 152017 257 84 39 174 213 442018 301 221 77 80 157 1442019 305 81 81 224

TOTAL $7,021 $362 $235 $6,353 $6,588 $432

Notes:(1) - For 2018 and prior, ultimate losses based from Exhibit V, Page 1B, Column (1). For 2019, ultimate loss is the projected loss in Exhibit V, Page 6.(2) - For 2018 and prior, loss reserves based from Exhibit V, Page 1B, Column (6).(3) - From Exhibit V, Page 9.(4) - From Exhibit V, Page 1B. Column (5).(5) = (3) + (4)(6) = (1) - (5)







EXHIBIT VPAGE 1D OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 $239 0 0 $239 $239 01995 370 0 0 370 370 01996 61 0 0 61 61 01997 130 0 0 130 130 01998 461 0 0 461 461 01999 165 0 0 165 165 02000 109 0 0 109 109 02001 795 0 0 795 795 02002 251 0 0 251 251 02003 100 0 0 100 100 02004 15 0 0 15 15 02005 96 0 0 96 96 02006 392 0 0 392 392 02007 26 0 0 26 26 02008 486 0 0 486 486 02009 864 0 0 864 864 02010 37 0 0 37 37 02011 395 0 0 395 395 02012 412 0 0 412 412 02013 327 0 0 327 327 02014 20 0 0 20 20 02015 341 5 5 336 341 02016 65 15 12 49 61 32017 257 44 24 213 237 202018 301 144 68 157 225 762019 305 224 78 81 159 1462020 310 82 82 228

TOTAL $7,331 $432 $269 $6,588 $6,858 $473

Notes:(1) - For 2019 and prior, ultimate losses based from Exhibit V, Page 1C, Column (1). For 2020, ultimate loss is the projected loss in Exhibit V, Page 6.(2) - For 2019 and prior, loss reserves based from Exhibit V, Page 1C, Column (6).(3) - From Exhibit V, Page 9.(4) - From Exhibit V, Page 1C. Column (5).(5) = (3) + (4)(6) = (1) - (5)







EXHIBIT VPAGE 2 OF 9

LIMITED INCURRED LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED LOSSYEAR* @6/30/2017 FACTORS LOSSES FTE RATE

(1) (2) (3) (4) (5)

Prior1994 $239 1.000 $239 N/A1995 370 1.000 370 N/A1996 61 1.000 61 N/A1997 130 1.000 130 N/A1998 461 1.000 461 N/A1999 165 1.000 165 N/A2000 109 1.000 109 N/A2001 795 1.000 795 N/A2002 251 1.000 251 N/A2003 100 1.000 100 16,960 0.0062004 15 1.000 15 14,579 0.0012005 96 1.000 96 15,398 0.0062006 392 1.000 392 15,397 0.0252007 26 1.000 26 15,773 0.0022008 486 1.000 486 16,050 0.0302009 864 1.000 864 15,977 0.0542010 37 1.000 37 16,386 0.0022011 395 1.000 395 16,721 0.0242012 412 1.000 412 16,951 0.0242013 324 1.000 324 17,025 0.0192014 12 1.010 13 16,848 0.0012015 300 1.041 312 16,959 0.0182016 0 1.078 0 17,272 0.0002017 205 220 17,242 0.013

TOTAL $6,245 $6,273

LIMITED PAID LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED LOSSYEAR* @6/30/2017 FACTORS LOSSES FTE RATE

(6) (7) (8) (9) (10)

Prior1994 $239 1.000 $239 N/A1995 370 1.000 370 N/A1996 61 1.000 61 N/A1997 130 1.000 130 N/A1998 461 1.000 461 N/A1999 165 1.000 165 N/A2000 109 1.000 109 N/A2001 795 1.000 795 N/A2002 251 1.000 251 N/A2003 100 1.000 100 16,960 0.0062004 15 1.000 15 14,579 0.0012005 96 1.000 96 15,398 0.0062006 392 1.000 392 15,397 0.0252007 26 1.000 26 15,773 0.0022008 486 1.000 486 16,050 0.0302009 864 1.000 864 15,977 0.0542010 37 1.000 37 16,386 0.0022011 395 1.000 395 16,721 0.0242012 412 1.000 412 16,951 0.0242013 324 1.026 332 17,025 0.0202014 12 1.128 14 16,848 0.0012015 292 1.339 391 16,959 0.0232016 0 1.915 0 17,272 0.0002017 129 249 17,242 0.014

TOTAL $6,160 $6,390



AVIATION






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REPORT LOSS ULTIMATE OF LOSSES IBNR LOSSES INCURREDYEAR* RATE FTE LOSSES UNREPORTED RESERVES @6/30/2017 LOSSES

(1) (2) (3) (4) (5) (6) (7)

Prior1994 0.014 N/A $239 0.0% $0 $239 $2391995 0.014 N/A 370 0.0% 0 370 3701996 0.014 N/A 61 0.0% 0 61 611997 0.014 N/A 130 0.0% 0 130 1301998 0.014 N/A 461 0.0% 0 461 4611999 0.014 N/A 165 0.0% 0 165 1652000 0.014 N/A 109 0.0% 0 109 1092001 0.014 N/A 795 0.0% 0 795 7952002 0.014 N/A 251 0.0% 0 251 2512003 0.014 16,960 231 0.0% 0 100 1002004 0.014 14,579 198 0.0% 0 15 152005 0.014 15,398 209 0.0% 0 96 962006 0.014 15,397 209 0.0% 0 392 3922007 0.014 15,773 214 0.0% 0 26 262008 0.014 16,050 218 0.0% 0 486 4862009 0.014 15,977 217 0.0% 0 864 8642010 0.014 16,386 223 0.0% 0 37 372011 0.014 16,721 227 0.0% 0 395 3952012 0.014 16,951 231 0.0% 0 412 4122013 0.014 17,025 232 0.0% 0 324 3242014 0.014 16,848 229 1.0% 2 12 142015 0.014 16,959 231 3.9% 9 300 3092016 0.014 17,272 235 7.2% 17 0 172017 0.014 17,242 234 22.9% 54 205 259

TOTAL $5,920 $82 $6,245 $6,327

ESTIMATED EXPECTED EXPECTED % UNLIMITED PAID ULTIMATEREPORT LOSS ULTIMATE OF LOSSES LOSS LOSSES INCURREDYEAR* RATE FTE LOSSES UNPAID RESERVES @6/30/2017 LOSSES

(8) (9) (10) (11) (12) (13) (14)

Prior1994 0.014 N/A $239 0.0% $0 $239 $2391995 0.014 N/A 370 0.0% 0 370 3701996 0.014 N/A 61 0.0% 0 61 611997 0.014 N/A 130 0.0% 0 130 1301998 0.014 N/A 461 0.0% 0 461 4611999 0.014 N/A 165 0.0% 0 165 1652000 0.014 N/A 109 0.0% 0 109 1092001 0.014 N/A 795 0.0% 0 795 7952002 0.014 N/A 251 0.0% 0 251 2512003 0.014 16,960 231 0.0% 0 100 1002004 0.014 14,579 198 0.0% 0 15 152005 0.014 15,398 209 0.0% 0 96 962006 0.014 15,397 209 0.0% 0 392 3922007 0.014 15,773 214 0.0% 0 26 262008 0.014 16,050 218 0.0% 0 486 4862009 0.014 15,977 217 0.0% 0 864 8642010 0.014 16,386 223 0.0% 0 37 372011 0.014 16,721 227 0.0% 0 395 3952012 0.014 16,951 231 0.0% 0 412 4122013 0.014 17,025 232 2.5% 6 324 3302014 0.014 16,848 229 11.4% 26 12 382015 0.014 16,959 231 25.3% 58 292 3502016 0.014 17,272 235 47.8% 112 0 1122017 0.014 17,242 234 73.5% 172 129 301

TOTAL $5,920 $374 $6,160 $6,534

Notes:(1) & (8) - The average of the loss rates of prior years as shown in Columns (5) and (10) of Exhibit V, Page 2.(2) & (9) - Per STATE OF ALASKA.(3) = (1) x (2); (10) = (8) x (9). For 2002 & prior, average of Exhibit V, Columns (5) & (10).(4) = (1 - (1/ILDF)); (11) = (1 - (1/PLDF)).(5) = (3) x (4); (12) = (10) x (11).(6) & (13) - Per STATE OF ALASKA.(7) = (5) + (6); (14) = (12) + (13). If ultimate incurred losses in (14) are less than the incurred losses in (6), we used the incurred losses in (6).* All Report Years are 12-month periods ending 6/30 of the stated year.






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1994 2391995 370 3701996 61 61 611997 130 130 130 1301998 461 461 461 461 4611999 165 165 165 165 165 1652000 109 109 109 109 109 109 1092001 795 795 795 795 795 784 784 7952002 251 251 251 251 251 251 251 251 2512003 333 333 333 333 333 333 333 100 100 1002004 268 263 15 15 15 15 15 15 15 15 152005 96 121 121 96 96 96 96 96 96 96 96 962006 306 318 326 326 348 392 392 392 392 392 392 3922007 36 36 26 26 26 26 26 26 26 26 262008 260 241 241 336 486 486 486 486 486 4862009 793 881 869 864 864 864 864 864 8642010 10 42 37 37 37 37 37 372011 242 224 249 399 395 395 3952012 200 303 331 445 438 4122013 254 326 324 324 3242014 0 66 15 122015 281 300 3002016 0 02017 205



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 0.986 1.000 1.014 1.0002002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 1.000 1.000 1.000 1.000 1.000 1.000 0.300 1.000 1.000 1.0002004 0.981 0.057 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002005 1.260 1.000 0.793 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9962006 1.039 1.025 1.000 1.067 1.126 1.000 1.000 1.000 1.000 1.000 1.0012007 1.000 0.722 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9922008 0.927 1.000 1.394 1.446 1.000 1.000 1.000 1.000 1.0002009 1.111 0.986 0.994 1.000 1.000 1.000 1.000 1.0002010 4.200 0.881 1.000 1.000 1.000 1.000 1.0062011 0.926 1.112 1.602 0.990 1.000 0.9992012 1.515 1.092 1.344 0.984 0.9412013 1.283 0.994 1.000 0.9992014 0.227 0.8272015 1.068 1.0012016

AVERAGE 1.433 0.918 1.001 1.041 1.006 1.000 1.001 1.000 0.941 0.999 1.001 1.0003 YR AVG. 1.068 0.741 1.057 0.991 0.980 1.000 1.002 1.000 1.000 0.997 1.000 0.999





DEVELOPMENT MONTHS





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1994 239 239 239 239 239 239 239 239 239 239 239 2391995 370 370 370 370 370 370 370 370 370 370 3701996 61 61 61 61 61 61 61 61 61 611997 130 130 130 130 130 130 130 130 1301998 461 461 461 461 461 461 461 4611999 165 165 165 165 165 165 1652000 109 109 109 109 109 1092001 795 795 795 795 7952002 251 251 251 2512003 100 100 1002004 15 152005 96200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9981995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0071997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0011999 1.000 1.000 1.000 1.000 1.000 0.9982000 1.000 1.000 1.000 1.000 0.9972001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0042004 0.983200520062007200820092010201120122013201420152016

AVERAGE 0.998 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.002 1.0003 YR AVG. 0.994 1.001 1.000 1.000 0.999 0.999 1.000 1.000 1.002





DEVELOPMENT MONTHS





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1994 2391995 370 3701996 61 61 611997 130 130 130 1301998 461 461 461 461 4611999 165 165 165 165 165 1652000 109 109 109 109 109 109 1092001 739 795 795 795 795 784 784 7952002 251 251 251 251 251 251 251 251 2512003 268 333 333 100 100 333 333 100 100 1002004 15 15 15 15 15 15 15 15 15 15 152005 96 96 96 96 96 96 96 96 96 96 96 962006 149 318 321 326 348 392 392 392 392 392 392 3922007 26 26 26 26 26 26 26 26 26 26 262008 164 235 237 298 486 486 486 486 486 4862009 398 828 853 864 864 864 864 864 8642010 6 7 37 37 37 37 37 372011 63 224 235 243 395 395 3952012 47 63 216 419 412 4122013 254 322 324 324 3242014 0 0 1 122015 0 5 2922016 0 02017 129



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.076 1.000 1.000 1.000 0.986 1.000 1.014 1.0002002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 1.243 1.000 0.300 1.000 3.330 1.000 0.300 1.000 1.000 1.0002004 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002005 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9962006 2.134 1.009 1.016 1.067 1.126 1.000 1.000 1.000 1.000 1.000 1.0012007 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9922008 1.433 1.009 1.257 1.631 1.000 1.000 1.000 1.000 1.0002009 2.080 1.030 1.013 1.000 1.000 1.000 1.000 1.0002010 1.167 5.286 1.000 1.000 1.000 1.000 1.0062011 3.556 1.049 1.034 1.626 1.000 0.9992012 1.340 3.429 1.940 0.983 1.0012013 1.268 1.006 1.000 0.9992014 12.4092015 58.3722016

AVERAGE 1.664 6.835 2.076 1.109 0.959 1.000 1.195 1.000 0.941 0.999 1.001 1.0003 YR AVG. 2.055 29.689 5.116 1.203 1.000 1.000 1.002 1.000 1.000 0.997 1.000 0.999






DEVELOPMENT MONTHS




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1994 239 239 239 239 239 239 239 239 239 239 239 2391995 370 370 370 370 370 370 370 370 370 370 3701996 61 61 61 61 61 61 61 61 61 611997 130 130 130 130 130 130 130 130 1301998 461 461 461 461 461 461 461 4611999 165 165 165 165 165 165 1652000 109 109 109 109 109 1092001 795 795 795 795 7952002 251 251 251 2512003 100 100 1002004 15 152005 96200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9981995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0071997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0011999 1.000 1.000 1.000 1.000 1.000 0.9982000 1.000 1.000 1.000 1.000 0.9972001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0042004 0.983200520062007200820092010201120122013201420152016

AVERAGE 0.998 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.002 1.0003 YR AVG. 0.994 1.001 1.000 1.000 0.999 0.999 1.000 1.000 1.002






DEVELOPMENT MONTHS



AVIATION

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EXHIBIT VPAGE 4E OF 9


1994 81995 12 121996 19 19 191997 26 26 26 261998 30 30 30 30 301999 39 39 39 39 39 392000 16 16 16 16 16 16 162001 26 26 26 26 26 26 26 262002 13 13 13 13 13 13 13 13 132003 7 7 7 7 7 7 7 7 7 72004 9 9 9 9 9 9 9 9 9 9 92005 7 8 8 8 8 8 8 8 8 8 8 82006 7 7 8 8 8 9 9 9 10 10 10 102007 2 3 3 3 3 3 3 3 3 3 32008 6 7 7 8 8 8 9 9 9 92009 7 9 11 12 12 12 12 12 122010 1 4 5 5 5 5 5 52011 4 4 5 5 5 5 52012 7 7 8 8 8 82013 6 5 6 6 62014 0 1 2 22015 5 6 62016 0 02017 5



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002004 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002005 1.143 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002006 1.000 1.143 1.000 1.000 1.125 1.000 1.000 1.111 1.000 1.000 1.0002007 1.500 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 1.167 1.000 1.143 1.000 1.000 1.125 1.000 1.000 1.0002009 1.286 1.222 1.091 1.000 1.000 1.000 1.000 1.0002010 4.000 1.250 1.000 1.000 1.000 1.000 1.0002011 1.000 1.250 1.000 1.000 1.000 1.0002012 1.000 1.143 1.000 1.000 1.0002013 0.833 1.200 1.000 1.0002014 2.000 1.0002015 1.200 1.0002016

AVERAGE 1.413 1.184 1.020 1.000 1.010 1.010 1.000 1.009 1.000 1.000 1.000 1.0003 YR AVG. 1.200 1.400 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000



CUMULATIVE 1.367 1.129 1.008 1.001 1.001 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



AVIATION

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EXHIBIT VPAGE 4F OF 9


1994 8 8 8 8 8 8 8 8 8 8 8 81995 12 12 12 12 12 12 12 12 12 12 121996 19 19 19 19 19 19 19 19 19 191997 26 26 26 26 26 26 26 26 261998 30 30 30 30 30 30 30 301999 39 39 39 39 39 39 392000 16 16 16 16 16 162001 26 26 26 26 262002 13 13 13 132003 7 7 72004 9 92005 8200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000



CUMULATIVE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



AVIATION

R:\clientsPtoZ\State of Alaska\2017\Aviation_2017/TRI_COUNT_210/12/2017 11:30 AM





AVIATION


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 4 1.000 4 02014 8 0.979 7 02015 49 0.970 47 12016 65 0.962 62 22017 128 0.952 122 6

TOTAL $254 $244 $10


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit V, Page 1A, Column (7).(2) - Per AMI calculations, see Appendix A, Page 5.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

(5)

$244324

523388


DISCOUNTED RESERVES

R:\clientsPtoZ\State of Alaska\2017\Aviation_2017\DISC_RSV_110/12/2017 11:30 AM




CALCULATION OF DISCOUNTED RESERVESAVIATION


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 2 1.000 2 02015 22 0.979 21 02016 34 0.970 33 12017 84 0.962 80 32018 221 0.952 211 11

TOTAL $362 $347 $15


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit V, Page 1B, Column (6).(2) - Per AMI calculations, see Appendix A, Page 5.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

$347461551744


AS OF JUNE 30, 2018








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 5 1.000 5 02016 15 0.979 15 02017 44 0.970 43 12018 144 0.962 138 52019 224 0.952 213 11

TOTAL $432 $415 $18


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit V, Page 1C, Column (6).(2) - Per AMI calculations, see Appendix A, Page 5.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

$415551658888


AS OF JUNE 30, 2019








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 0 1.000 0 02016 3 1.000 3 02017 20 0.979 19 02018 76 0.970 74 22019 146 0.962 140 62020 228 0.952 217 11

TOTAL $473 $454 $19


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit V, Page 1D, Column (6).(2) - Per AMI calculations, see Appendix A, Page 5.(3) = (1) x (2).'(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

$454603721972


AS OF JUNE 30, 2020







AVIATION


REPORT ULTIMATE LOSSYEAR* LOSSES FTE RATE

(1) (2) (3)

Prior1994 $239 N/A1995 370 N/A1996 61 N/A1997 130 N/A1998 461 N/A1999 165 N/A2000 109 N/A2001 795 N/A2002 251 N/A2003 100 16,960 0.0062004 15 14,579 0.0012005 96 15,398 0.0062006 392 15,397 0.0252007 26 15,773 0.0022008 486 16,050 0.0302009 864 15,977 0.0542010 37 16,386 0.0022011 395 16,721 0.0242012 412 16,951 0.0242013 327 17,025 0.0192014 20 16,848 0.0012015 341 16,959 0.0202016 65 17,272 0.0042017 257 17,242 0.015

(PROJ.) 2017/2018 $301 17,328 0.017(PROJ.) 2018/2019 305 17,415 0.018(PROJ.) 2019/2020 310 17,502 0.018



(4) (5) (6) (7)

2018 $301 0.940 $283 $182019 305 0.940 287 182020 310 0.940 292 18



(8) (9) (10) (11)

2018 $283 $390 $471 $6312019 287 395 477 6402020 292 402 486 651

Notes:(1) - Per Exhibit V, Page 1A, Column (5). For projected years, (1) = (2) x (3)(2) - Per STATE OF ALASKA.(3) = (1) / (2). For the projected years, it is the trended average of prior years(4) = (1); (5) - Per Appendix A, Page 5, Column (7).(6) = (4) x (5); (7)= (4) - (6).(8) = (6).(9) to (11) - Based on Monte Carlo Simulation.* All Report Years are 12-month periods ending 6/30 of the stated year.


R:\clientsPtoZ\State of Alaska\2017\Aviation_2017\PROJ_LIM10/12/2017 11:32 AM




REPORT REPORTED DEVELOPMENT CLAIM ULTIMATE 10,000 FTE (SEVERITY)YEAR* @6/30/2017 FACTORS COUNT LOSSES FTE (FREQUENCY) (WHOLE DOLLARS)

(1) (2) (3) (4) (5) (6) (7)

1994 8 1.000 8 $239 $29,8511995 12 1.000 12 370 30,8261996 19 1.000 19 61 3,2331997 26 1.000 26 130 4,9991998 30 1.000 30 461 15,3811999 39 1.000 39 165 4,2272000 16 1.000 16 109 6,8022001 26 1.000 26 795 30,5712002 13 1.000 13 251 19,3152003 7 1.000 7 100 16,960 4.1 14,3482004 9 1.000 9 15 14,579 6.2 1,6522005 8 1.000 8 96 15,398 5.2 11,9762006 10 1.000 10 392 15,397 6.5 39,2322007 3 1.000 3 26 15,773 1.9 8,6332008 9 1.000 9 486 16,050 5.6 53,9962009 12 1.000 12 864 15,977 7.5 72,0392010 5 1.000 5 37 16,386 3.1 7,4442011 5 1.000 5 395 16,721 3.0 78,9562012 8 1.000 8 412 16,951 4.7 51,5122013 6 1.001 6 327 17,025 3.5 54,5202014 2 1.001 2 20 16,848 1.2 9,9712015 6 1.008 6 341 16,959 3.6 56,3192016 0 1.129 1 65 17,272 0.6 64,5002017 5 1.367 7 257 17,242 4.0 37,603

TOTAL 189 192 $5,153

Notes:(1) & (5) - Per STATE OF ALASKA.(2) - Per STATE OF ALASKA's historical loss patterns. (3) = (1) x (2). (4) = Exhibit V, Page 1A, Column (5).(6) = [(3) / [(5) / 1000]] ; (7) = [(3) / (4)] x 1000.* All Report Years are 12-month periods ending 6/30 of the stated year.




AVIATION

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1 2 3 4 5 6 7 8 9 1026.5% 52.2% 74.7% 88.6% 97.5% 100.0% 100.0% 100.0% 100.0% 100.0%26.5% 25.7% 22.5% 13.9% 8.8% 2.5% 0.0% 0.0% 0.0% 0.0%

35.0% 30.6% 19.0% 12.0% 3.5% 0.0% 0.0% 0.0% 0.0%26.5% 25.7% 22.5% 13.9% 8.8% 2.5% 0.0% 0.0% 0.0% 0.0%


Prior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $01994 $239 0 0 0 0 0 0 0 0 0 0 01995 370 0 0 0 0 0 0 0 0 0 0 01996 61 0 0 0 0 0 0 0 0 0 0 01997 130 0 0 0 0 0 0 0 0 0 0 01998 461 0 0 0 0 0 0 0 0 0 0 01999 165 0 0 0 0 0 0 0 0 0 0 02000 109 0 0 0 0 0 0 0 0 0 0 02001 795 0 0 0 0 0 0 0 0 0 0 02002 251 0 0 0 0 0 0 0 0 0 0 02003 100 0 0 0 0 0 0 0 0 0 0 02004 15 0 0 0 0 0 0 0 0 0 0 02005 96 0 0 0 0 0 0 0 0 0 0 02006 392 0 0 0 0 0 0 0 0 0 0 02007 26 0 0 0 0 0 0 0 0 0 0 02008 486 0 0 0 0 0 0 0 0 0 0 02009 864 0 0 0 0 0 0 0 0 0 0 02010 37 0 0 0 0 0 0 0 0 0 0 02011 395 0 0 0 0 0 0 0 0 0 0 02012 412 0 0 0 0 0 0 0 0 0 0 02013 327 4 4 0 0 0 0 0 0 0 0 02014 20 8 6 2 0 0 0 0 0 0 0 02015 341 49 27 17 5 0 0 0 0 0 0 02016 65 65 30 19 12 3 0 0 0 0 0 02017 257 128 45 39 24 15 4 0 0 0 0 02018 301 80 77 68 42 27 8 0 0 0 02019 305 81 78 68 43 27 8 0 0 02020 310 82 80 70 43 27 8 0 0

TOTAL $7,331 $254 $193 $235 $269 $209 $143 $78 $35 $8 $0 $0










R:\clientsPtoZ\State of Alaska\2017\Aviation_2017\CASHFLOW_DISC10/12/2017 11:30 AM




(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)

Prior 227 212 21 38 22 17 15 8 1 0 1 5622010 1 2 1 0 1 0 0 0 0 0 0 52011 0 0 0 1 2 0 2 0 0 0 0 52012 2 1 0 1 0 2 2 0 0 0 0 82013 3 0 0 1 0 1 0 1 0 0 0 62014 0 1 0 1 0 0 0 0 0 0 0 22015 2 1 0 1 0 1 1 0 0 0 0 62016 0 0 0 0 0 0 0 0 0 0 0 02017 1 0 1 1 0 1 1 0 0 0 0 5

TOTAL 236 217 23 44 25 22 21 9 1 0 1 599


Prior ($379) $212 $157 $615 $765 $1,256 $2,544 $2,919 $622 $0 $2,987 $11,6972010 0 2 6 0 29 0 0 0 0 0 0 372011 0 0 0 14 65 0 316 0 0 0 0 3952012 0 1 0 14 0 152 245 0 0 0 0 4122013 0 0 0 17 0 56 0 254 0 0 0 3272014 0 1 0 11 0 0 0 0 0 0 0 122015 0 0 0 20 0 100 180 0 0 0 0 3002016 0 0 0 0 0 0 0 0 0 0 0 02017 0 0 6 20 0 60 119 0 0 0 0 205

TOTAL ($379) $216 $169 $712 $859 $1,624 $3,403 $3,173 $622 $0 $2,987 $13,386



REPORTED LOSSES



AVIATION

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EXHIBIT VIPAGE 1A OF 9


(1) (2) (3) (4) (5) (6) (7)

Prior $01994 $65 $65 $65 $65 $65 $65 01995 853 853 853 853 853 853 01996 52 52 52 52 52 52 01997 823 823 823 823 823 823 01998 1,104 1,104 1,104 1,104 1,104 1,104 01999 122 122 122 122 122 122 02000 388 388 388 388 388 388 02001 583 583 583 583 583 583 02002 183 183 183 183 183 183 02003 229 229 229 229 229 229 02004 229 229 229 229 229 229 02005 1,577 1,577 1,577 1,577 1,577 1,577 02006 89 89 89 89 89 89 02007 1,300 1,300 1,300 1,300 1,300 1,300 02008 1,090 1,090 1,090 1,090 1,090 1,090 02009 438 438 438 438 438 438 02010 229 229 229 229 229 229 02011 367 367 367 367 367 367 02012 132 132 132 132 132 132 02013 409 409 409 409 409 409 02014 1,286 1,288 1,286 1,286 1,287 1,286 02015 2,209 2,209 2,209 2,209 2,209 1,509 7002016 77 76 77 76 77 24 522017 113 106 112 106 109 14 96

TOTAL $13,947 $13,941 $13,948 $13,941 $13,946 $13,097 $849

Notes:(1), (2), (3), & (4) - Ultimate losses calculated from Exhibit VI, Pages 2 & 3.(5) = Average of (1), (2), (3) & (4).(6) - Per STATE OF ALASKA(7) = (5) - (6).* All Report Years are 12-month periods ending 6/30 of the stated year.




PROPERTY($AMOUNTS IN '000s)


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EXHIBIT VIPAGE 1B OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 65 0 0 65 65 01995 853 0 0 853 853 01996 52 0 0 52 52 01997 823 0 0 823 823 01998 1,104 0 0 1,104 1,104 01999 122 0 0 122 122 02000 388 0 0 388 388 02001 583 0 0 583 583 02002 183 0 0 183 183 02003 229 0 0 229 229 02004 229 0 0 229 229 02005 1,577 0 0 1,577 1,577 02006 89 0 0 89 89 02007 1,300 0 0 1,300 1,300 02008 1,090 0 0 1,090 1,090 02009 438 0 0 438 438 02010 229 0 0 229 229 02011 367 0 0 367 367 02012 132 0 0 132 132 02013 409 0 0 409 409 02014 1,287 0 0 1,286 1,287 02015 2,209 700 582 1,509 2,092 1172016 77 52 49 24 74 32017 109 96 82 14 96 132018 799 265 265 534

TOTAL $14,745 $849 $981 $13,097 $14,078 $667

Notes:(1) - For 2017 and prior, ultimate losses based from Exhibit VI, Page 1A, Column (5). For 2018, ultimate loss is the projected loss in Exhibit VI, Page 6.(2) - For 2017 and prior, loss reserves based from Exhibit VI, Page 1A, Column (7).(3) - From Exhibit VI, Page 9.(4) - From Exhibit VI, Page 1A. Column (6).(5) = (3) + (4)(6) = (1) - (5)





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EXHIBIT VIPAGE 1C OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 65 0 0 65 65 01995 853 0 0 853 853 01996 52 0 0 52 52 01997 823 0 0 823 823 01998 1,104 0 0 1,104 1,104 01999 122 0 0 122 122 02000 388 0 0 388 388 02001 583 0 0 583 583 02002 183 0 0 183 183 02003 229 0 0 229 229 02004 229 0 0 229 229 02005 1,577 0 0 1,577 1,577 02006 89 0 0 89 89 02007 1,300 0 0 1,300 1,300 02008 1,090 0 0 1,090 1,090 02009 438 0 0 438 438 02010 229 0 0 229 229 02011 367 0 0 367 367 02012 132 0 0 132 132 02013 409 0 0 409 409 02014 1,287 0 0 1,287 1,287 02015 2,209 117 117 2,092 2,209 02016 77 3 3 74 76 12017 109 13 13 96 109 12018 799 534 460 265 725 742019 847 281 281 566

TOTAL $15,592 $667 $873 $14,078 $14,951 $641

Notes:(1) - For 2018 and prior, ultimate losses based from Exhibit VI, Page 1B, Column (1). For 2019, ultimate loss is the projected loss in Exhibit VI, Page 6.(2) - For 2018 and prior, loss reserves based from Exhibit VI, Page 1B, Column (6).(3) - From Exhibit VI, Page 9.(4) - From Exhibit VI, Page 1B. Column (5).(5) = (3) + (4)(6) = (1) - (5)







EXHIBIT VIPAGE 1D OF 9



(1) (2) (3) (4) (5) (6)

Prior $0 $0 $01994 65 0 0 65 65 01995 853 0 0 853 853 01996 52 0 0 52 52 01997 823 0 0 823 823 01998 1,104 0 0 1,104 1,104 01999 122 0 0 122 122 02000 388 0 0 388 388 02001 583 0 0 583 583 02002 183 0 0 183 183 02003 229 0 0 229 229 02004 229 0 0 229 229 02005 1,577 0 0 1,577 1,577 02006 89 0 0 89 89 02007 1,300 0 0 1,300 1,300 02008 1,090 0 0 1,090 1,090 02009 438 0 0 438 438 02010 229 0 0 229 229 02011 367 0 0 367 367 02012 132 0 0 132 132 02013 409 0 0 409 409 02014 1,287 0 0 1,287 1,287 02015 2,209 0 0 2,209 2,209 02016 77 1 1 76 77 02017 109 1 1 109 109 02018 799 74 70 725 795 42019 847 566 487 281 768 792020 898 298 298 600

TOTAL $16,490 $641 $856 $14,951 $15,807 $683

Notes:(1) - For 2019 and prior, ultimate losses based from Exhibit VI, Page 1C, Column (1). For 2020, ultimate loss is the projected loss in Exhibit VI, Page 6.(2) - For 2019 and prior, loss reserves based from Exhibit VI, Page 1C, Column (6).(3) - From Exhibit VI, Page 9.(4) - From Exhibit VI, Page 1C. Column (5).(5) = (3) + (4)(6) = (1) - (5)







EXHIBIT VIPAGE 2 OF 9

LIMITED INCURRED LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED PROPERTY VALUE LOSSYEAR* @6/30/2017 FACTORS LOSSES ($MM) RATE

(1) (2) (3) (4) (5)

Prior1994 $65 1.000 $65 N/A1995 853 1.000 853 N/A1996 52 1.000 52 N/A1997 823 1.000 823 N/A1998 1,104 1.000 1,104 N/A1999 122 1.000 122 N/A2000 388 1.000 388 N/A2001 583 1.000 583 N/A2002 183 1.000 183 N/A2003 229 1.000 229 3,319 0.0692004 229 1.000 229 3,518 0.0652005 1,577 1.000 1,577 4,059 0.3892006 89 1.000 89 4,177 0.0212007 1,300 1.000 1,300 4,245 0.3062008 1,090 1.000 1,090 4,372 0.2492009 438 1.000 438 4,503 0.0972010 229 1.000 229 4,638 0.0492011 367 1.000 367 4,713 0.0782012 132 1.000 132 4,695 0.0282013 409 1.000 409 5,132 0.0802014 1,286 1.000 1,286 5,849 0.2202015 2,209 1.000 2,209 6,090 0.3632016 76 1.010 77 7,507 0.0102017 106 1.062 113 7,436 0.015

TOTAL $13,941 $13,947

LIMITED PAID LOSS ULTIMATE ESTIMATEDREPORT LOSSES DEVLPMT INCURRED PROPERTY VALUE LOSSYEAR* @6/30/2017 FACTORS LOSSES ($MM) RATE

(6) (7) (8) (9) (10)

Prior1994 $65 1.000 $65 N/A1995 853 1.000 853 N/A1996 52 1.000 52 N/A1997 823 1.000 823 N/A1998 1,104 1.000 1,104 N/A1999 122 1.000 122 N/A2000 388 1.000 388 N/A2001 583 1.000 583 N/A2002 183 1.000 183 N/A2003 229 1.000 229 3,319 0.0692004 229 1.000 229 3,518 0.0652005 1,577 1.000 1,577 4,059 0.3892006 89 1.000 89 4,177 0.0212007 1,300 1.000 1,300 4,245 0.3062008 1,090 1.000 1,090 4,372 0.2492009 438 1.000 438 4,503 0.0972010 229 1.000 229 4,638 0.0492011 367 1.000 367 4,713 0.0782012 132 1.000 132 4,695 0.0282013 409 1.000 409 5,132 0.0802014 1,286 1.001 1,288 5,849 0.2202015 1,509 1.005 2,209 6,090 0.3632016 24 1.102 76 7,507 0.0102017 14 3.012 106 7,436 0.014

TOTAL $13,097 $13,941



PROPERTY






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REPORT LOSS PROPERTY VALUE ULTIMATE OF LOSSES IBNR LOSSES INCURREDYEAR* RATE ($MM) LOSSES UNREPORTED RESERVES @6/30/2017 LOSSES

(1) (2) (3) (4) (5) (6) (7)

Prior1994 0.015 N/A $65 0.0% $0 $65 $651995 0.015 N/A 853 0.0% 0 853 8531996 0.015 N/A 52 0.0% 0 52 521997 0.015 N/A 823 0.0% 0 823 8231998 0.015 N/A 1,104 0.0% 0 1,104 1,1041999 0.015 N/A 122 0.0% 0 122 1222000 0.015 N/A 388 0.0% 0 388 3882001 0.015 N/A 583 0.0% 0 583 5832002 0.015 N/A 183 0.0% 0 183 1832003 0.015 3,319 49 0.0% 0 229 2292004 0.015 3,518 52 0.0% 0 229 2292005 0.015 4,059 60 0.0% 0 1,577 1,5772006 0.015 4,177 62 0.0% 0 89 892007 0.015 4,245 63 0.0% 0 1,300 1,3002008 0.015 4,372 64 0.0% 0 1,090 1,0902009 0.015 4,503 66 0.0% 0 438 4382010 0.015 4,638 68 0.0% 0 229 2292011 0.015 4,713 69 0.0% 0 367 3672012 0.015 4,695 69 0.0% 0 132 1322013 0.015 5,132 76 0.0% 0 409 4092014 0.015 5,849 86 0.0% 0 1,286 1,2862015 0.015 6,090 90 0.0% 0 2,209 2,2092016 0.015 7,507 111 1.0% 1 76 772017 0.015 7,436 109 5.8% 6 106 112

TOTAL $5,266 $7 $13,941 $13,948

ESTIMATED EXPECTED EXPECTED % UNLIMITED PAID ULTIMATEREPORT LOSS PROPERTY VALUE ULTIMATE OF LOSSES LOSS LOSSES INCURREDYEAR* RATE ($MM) LOSSES UNPAID RESERVES @6/30/2017 LOSSES

(8) (9) (10) (11) (12) (13) (14)

Prior1994 0.015 N/A $65 0.0% $0 $65 $651995 0.015 N/A 853 0.0% 0 853 8531996 0.015 N/A 52 0.0% 0 52 521997 0.015 N/A 823 0.0% 0 823 8231998 0.015 N/A 1,104 0.0% 0 1,104 1,1041999 0.015 N/A 122 0.0% 0 122 1222000 0.015 N/A 388 0.0% 0 388 3882001 0.015 N/A 583 0.0% 0 583 5832002 0.015 N/A 183 0.0% 0 183 1832003 0.015 3,319 49 0.0% 0 229 2292004 0.015 3,518 52 0.0% 0 229 2292005 0.015 4,059 60 0.0% 0 1,577 1,5772006 0.015 4,177 62 0.0% 0 89 892007 0.015 4,245 63 0.0% 0 1,300 1,3002008 0.015 4,372 64 0.0% 0 1,090 1,0902009 0.015 4,503 66 0.0% 0 438 4382010 0.015 4,638 68 0.0% 0 229 2292011 0.015 4,713 69 0.0% 0 367 3672012 0.015 4,695 69 0.0% 0 132 1322013 0.015 5,132 76 0.0% 0 409 4092014 0.015 5,849 86 0.1% 0 1,286 1,2862015 0.015 6,090 90 0.5% 0 1,509 2,2092016 0.015 7,507 111 9.3% 10 24 762017 0.015 7,436 109 66.8% 73 14 106

TOTAL $5,266 $83 $13,097 $13,941

Notes:(1) & (8) - The average of the loss rates of prior years as shown in Columns (5) and (10) of Exhibit VI, Page 2.(2) & (9) - Per STATE OF ALASKA.(3) = (1) x (2); (10) = (8) x (9). For 2002 & prior, average of Exhibit VI, Columns (5) & (10).(4) = (1 - (1/ILDF)); (11) = (1 - (1/PLDF)).(5) = (3) x (4); (12) = (10) x (11).(6) & (13) - Per STATE OF ALASKA.(7) = (5) + (6); (14) = (12) + (13). If ultimate incurred losses in (14) are less than the incurred losses in (6), we used the incurred losses in (6).* All Report Years are 12-month periods ending 6/30 of the stated year.






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1994 651995 853 8531996 77 77 771997 823 823 823 8231998 1,104 1,104 1,104 1,104 1,1041999 138 122 122 122 122 1222000 388 388 388 388 388 388 3882001 599 599 587 587 587 587 583 5832002 186 186 186 186 186 183 183 183 1832003 229 229 229 229 229 229 229 229 229 2292004 232 242 229 229 229 229 229 229 229 229 2292005 2,909 2,269 202 1,582 1,692 1,692 1,692 1,577 1,577 1,577 1,577 1,5772006 264 176 91 90 90 90 89 89 89 89 89 892007 1,510 1,310 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,3002008 827 827 1,065 1,085 1,090 1,090 1,090 1,090 1,090 1,0902009 127 865 865 438 438 438 438 438 4382010 229 230 230 230 230 229 229 2292011 418 409 413 367 367 367 3672012 142 128 132 136 136 1322013 235 469 409 409 4092014 2,438 1,289 1,286 1,2862015 2,238 2,231 2,2092016 190 762017 106



1994 1.0001995 1.000 1.0001996 1.000 1.000 0.9871997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 0.884 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 0.980 1.000 1.000 1.000 0.993 1.000 1.0002002 1.000 1.000 1.000 1.000 0.984 1.000 1.000 1.000 1.0002003 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002004 1.043 0.946 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002005 0.780 0.089 7.832 1.070 1.000 1.000 0.932 1.000 1.000 1.000 1.000 1.0002006 0.667 0.517 0.989 1.000 1.000 0.989 1.000 1.000 1.000 1.000 0.9962007 0.868 0.992 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 1.000 1.288 1.019 1.005 1.000 1.000 1.000 1.000 1.0002009 6.811 1.000 0.506 1.000 1.000 1.000 1.000 1.0002010 1.004 1.000 1.000 1.000 0.996 1.000 0.9992011 0.978 1.010 0.889 1.000 1.000 0.9992012 0.901 1.031 1.030 1.000 0.9702013 1.996 0.872 1.000 1.0002014 0.529 0.998 1.0002015 0.997 0.9902016 0.402

AVERAGE 1.411 0.903 1.518 1.006 0.997 0.997 0.985 0.999 1.000 0.999 1.000 0.9993 YR AVG. 0.643 0.953 1.010 1.000 0.989 1.000 1.000 1.000 1.000 1.000 0.999 1.000





DEVELOPMENT MONTHS





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1994 65 65 65 65 65 65 65 65 65 65 65 651995 853 853 853 853 853 853 853 853 853 853 8531996 76 77 77 77 76 76 76 76 76 521997 823 823 823 823 823 823 823 823 8231998 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,1041999 122 122 122 122 122 122 1222000 388 388 388 388 388 3882001 583 583 583 583 5832002 183 183 183 1832003 229 229 2292004 229 2292005 1,577200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9981995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.013 1.000 1.000 0.987 1.000 1.000 1.000 1.000 0.6831997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0042000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 0.9992002 1.000 1.000 1.0032003 1.000 0.9992004 1.001200520062007200820092010201120122013201420152016

AVERAGE 1.001 1.000 1.000 0.998 1.000 1.001 1.000 1.000 0.894 1.0003 YR AVG. 1.000 1.000 1.001 1.000 1.000 1.001 1.000 1.000 0.894





DEVELOPMENT MONTHS





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1994 651995 853 8531996 77 77 771997 823 823 823 8231998 1,104 1,104 1,104 1,104 1,1041999 122 122 122 122 122 1222000 388 388 388 388 388 388 3882001 583 583 583 583 583 583 583 5832002 183 183 183 183 183 183 183 183 1832003 229 229 229 229 229 229 229 229 229 2292004 219 229 229 229 229 229 229 229 229 229 2292005 580 1,562 1,577 1,577 1,577 1,692 1,692 1,577 1,577 1,577 1,577 1,5772006 71 89 89 89 89 89 89 89 89 89 89 892007 826 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,3002008 211 458 1,065 1,085 1,090 1,090 1,090 1,090 1,090 1,0902009 93 438 438 438 438 438 438 438 4382010 229 230 230 230 230 229 229 2292011 246 362 367 367 367 367 3672012 102 128 132 132 132 1322013 62 373 409 409 4092014 211 1,289 1,286 1,2862015 1,184 1,412 1,5092016 20 242017 14



1994 1.0001995 1.000 1.0001996 1.000 1.000 0.9871997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002004 1.046 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002005 2.693 1.010 1.000 1.000 1.073 1.000 0.932 1.000 1.000 1.000 1.000 1.0002006 1.254 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9962007 1.574 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 2.171 2.325 1.019 1.005 1.000 1.000 1.000 1.000 1.0002009 4.710 1.000 1.000 1.000 1.000 1.000 1.000 1.0002010 1.004 1.000 1.000 1.000 0.996 1.000 0.9992011 1.472 1.014 1.000 1.000 1.000 0.9992012 1.255 1.031 1.000 1.000 1.0002013 6.016 1.097 1.000 1.0002014 6.109 0.998 1.0002015 1.193 1.0692016 1.222

AVERAGE 2.556 1.133 1.002 1.000 1.006 1.000 0.994 1.000 1.000 1.000 1.000 0.9993 YR AVG. 2.914 1.055 1.000 1.000 0.999 1.000 1.000 1.000 1.000 1.000 0.999 1.000






DEVELOPMENT MONTHS




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1994 65 65 65 65 65 65 65 65 65 65 65 651995 853 853 853 853 853 853 853 853 853 853 8531996 76 76 77 77 76 76 76 76 76 521997 823 823 823 823 823 823 823 823 8231998 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,1041999 122 122 122 122 122 122 1222000 388 388 388 388 388 3882001 583 583 583 583 5832002 183 183 183 1832003 229 229 2292004 229 2292005 1,577200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.9981995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.013 1.000 0.987 1.000 1.000 1.000 1.000 0.6831997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0042000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 0.9992002 1.000 1.000 1.0032003 1.000 0.9992004 1.001200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.001 1.000 0.998 1.000 1.001 1.000 1.000 0.894 1.0003 YR AVG. 1.000 1.000 1.001 1.000 1.000 1.001 1.000 1.000 0.894






DEVELOPMENT MONTHS



PROPERTY

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EXHIBIT VIPAGE 4E OF 9


1994 141995 31 311996 23 23 231997 33 33 33 331998 21 21 21 21 211999 20 20 20 20 20 202000 24 24 24 24 24 24 242001 16 16 16 16 16 16 16 162002 14 14 14 14 14 14 14 14 142003 35 35 35 35 35 35 35 35 34 342004 37 37 37 37 37 37 37 37 37 37 372005 30 34 34 34 34 34 34 34 34 34 34 342006 22 24 24 24 24 24 24 24 24 24 24 242007 23 27 27 27 27 27 27 27 27 27 272008 22 23 23 23 23 23 23 23 23 232009 13 16 16 16 16 16 16 16 162010 15 15 15 15 15 15 15 152011 21 24 24 24 24 24 242012 18 19 19 19 19 192013 24 29 29 29 292014 17 18 18 182015 14 15 152016 15 152017 18



1994 1.0001995 1.000 1.0001996 1.000 1.000 1.0001997 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002002 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002003 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.971 1.000 1.0002004 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002005 1.133 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002006 1.091 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002007 1.174 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002008 1.045 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0002009 1.231 1.000 1.000 1.000 1.000 1.000 1.000 1.0002010 1.000 1.000 1.000 1.000 1.000 1.000 1.0002011 1.143 1.000 1.000 1.000 1.000 1.0002012 1.056 1.000 1.000 1.000 1.0002013 1.208 1.000 1.000 1.0002014 1.059 1.000 1.0002015 1.071 1.0002016 1.000

AVERAGE 1.101 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 0.998 1.000 1.0003 YR AVG. 1.043 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000



CUMULATIVE 1.076 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



PROPERTY

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EXHIBIT VIPAGE 4F OF 9


1994 14 14 14 14 14 14 14 14 14 14 14 141995 31 31 31 31 31 31 31 31 31 31 311996 23 23 23 23 23 23 23 23 23 231997 33 33 33 33 33 33 33 33 331998 21 21 21 21 21 21 21 211999 20 20 20 20 20 20 202000 24 24 24 24 24 242001 16 16 16 16 162002 14 14 14 142003 34 34 342004 37 372005 34200620072008200920102011201220132014201520162017



1994 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001995 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001996 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001997 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0001998 1.000 1.000 1.000 1.000 1.000 1.000 1.0001999 1.000 1.000 1.000 1.000 1.000 1.0002000 1.000 1.000 1.000 1.000 1.0002001 1.000 1.000 1.000 1.0002002 1.000 1.000 1.0002003 1.000 1.0002004 1.000200520062007200820092010201120122013201420152016

AVERAGE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.0003 YR AVG. 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000



CUMULATIVE 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000


DEVELOPMENT MONTHS



PROPERTY

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PROPERTY


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 700 0.981 686 142016 52 0.983 51 12017 96 0.981 94 2

TOTAL $849 $833 $16


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit VI, Page 1A, Column (7).(2) - Per AMI calculations, see Appendix A, Page 6.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.



$8331,107

1,7841,323

R:\clientsPtoZ\State of Alaska\2017\Property_2017\DISC_RSV_110/12/2017 11:37 AM




CALCULATION OF DISCOUNTED RESERVESPROPERTY


(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 117 1.000 117 02016 3 0.981 3 02017 13 0.983 13 02018 534 0.981 524 10

TOTAL $667 $657 $10


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit VI, Page 1B, Column (6).(2) - Per AMI calculations, see Appendix A, Page 6.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2018


$657873

1,0441,408








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 0 1.000 0 02016 1 1.000 1 02017 1 0.981 1 02018 74 0.983 73 12019 566 0.981 555 11

TOTAL $641 $629 $12


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit VI, Page 1C, Column (6).(2) - Per AMI calculations, see Appendix A, Page 6.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2019


$629837

1,0001,348








(1) (2) (3) (4)

Prior $0 1.000 $0 $01994 0 1.000 0 01995 0 1.000 0 01996 0 1.000 0 01997 0 1.000 0 01998 0 1.000 0 01999 0 1.000 0 02000 0 1.000 0 02001 0 1.000 0 02002 0 1.000 0 02003 0 1.000 0 02004 0 1.000 0 02005 0 1.000 0 02006 0 1.000 0 02007 0 1.000 0 02008 0 1.000 0 02009 0 1.000 0 02010 0 1.000 0 02011 0 1.000 0 02012 0 1.000 0 02013 0 1.000 0 02014 0 1.000 0 02015 0 1.000 0 02016 0 1.000 0 02017 0 1.000 0 02018 4 0.981 4 02019 79 0.983 77 12020 600 0.981 589 11

TOTAL $683 $670 $13


CONFIDENCELEVELS

EXPECTED75%85%95%

Notes:(1) - Per Exhibit VI, Page 1D, Column (6).(2) - Per AMI calculations, see Appendix A, Page 6.(3) = (1) x (2).(4) = (1) - (3). Excludes investment income on the margin.(5) = (3) + margin based on Monte Carlo Simulation. * All Report Years are 12-month periods ending 6/30 of the stated year.

AS OF JUNE 30, 2020


$670891

1,0651,436







PROPERTY


REPORT ULTIMATE PROPERTY VALUE LOSSYEAR* LOSSES ($MM) RATE

(1) (2) (3)

Prior1994 $65 N/A1995 853 N/A1996 52 N/A1997 823 N/A1998 1,104 N/A1999 122 N/A2000 388 N/A2001 583 N/A2002 183 N/A2003 229 3,319 0.072004 229 3,518 0.072005 1,577 4,059 0.392006 89 4,177 0.022007 1,300 4,245 0.312008 1,090 4,372 0.252009 438 4,503 0.102010 229 4,638 0.052011 367 4,713 0.082012 132 4,695 0.032013 409 5,132 0.082014 1,287 5,849 0.222015 2,209 6,090 0.362016 77 7,507 0.012017 109 7,436 0.02

(PROJ.) 2017/2018 $799 7,808 0.10(PROJ.) 2018/2019 847 8,198 0.10(PROJ.) 2019/2020 898 8,608 0.10



(4) (5) (6) (7)

2018 $799 0.963 $770 $292019 847 0.963 816 312020 898 0.963 865 33

DISCOUNTED FUNDING REQUIREMENTS AT VARIOUS CONFIDENCE LEVELSEXPECTED 75% 85% 95%

REPORT LEVEL LEVEL LEVEL LEVELYEAR* (8) (9) (10) (11)

2018 $770 $1,060 $1,281 $1,7172019 816 1,123 1,357 1,8192020 865 1,191 1,439 1,928

Notes:(1) - Per Exhibit VI, Page 1A, Column (5). For projected years, (1) = (2) x (3).(2) - Per STATE OF ALASKA.(3) = (1) / (2). For the projected years, it is the trended average of prior years(4) = (1); (5) - Per Appendix A, Page 3, Column (7).(6) = (4) x (5); (7)= (4) - (6).(8) = (6).(9) to (11) - Based on Monte Carlo Simulation.* All Report Years are 12-month periods ending 6/30 of the stated year.


R:\clientsPtoZ\State of Alaska\2017\Property_2017\PROJ_LIM10/12/2017 11:37 AM



NUMBER OF CLAIMS AVERAGECLAIMS ULTIMATE PROPERTY PER $B OF CLAIM

REPORT REPORTED DEVELOPMENT CLAIM ULTIMATE VALUE PROPERTY VALUE (SEVERITY)YEAR* @6/30/2017 FACTORS COUNT LOSSES ($MM) (FREQUENCY) (WHOLE DOLLARS)

(1) (2) (3) (4) (5) (6) (7)

1994 14 1.000 14 $65 N/A $4,6391995 31 1.000 31 853 N/A 27,5241996 23 1.000 23 52 N/A 2,2591997 33 1.000 33 823 N/A 24,9421998 21 1.000 21 1,104 N/A 52,5851999 20 1.000 20 122 N/A 6,1222000 24 1.000 24 388 N/A 16,1732001 16 1.000 16 583 N/A 36,4262002 14 1.000 14 183 N/A 13,1042003 34 1.000 34 229 3,319 10 6,7302004 37 1.000 37 229 3,518 11 6,1982005 34 1.000 34 1,577 4,059 8 46,3762006 24 1.000 24 89 4,177 6 3,7022007 27 1.000 27 1,300 4,245 6 48,1652008 23 1.000 23 1,090 4,372 5 47,4172009 16 1.000 16 438 4,503 4 27,3882010 15 1.000 15 229 4,638 3 15,2622011 24 1.000 24 367 4,713 5 15,2892012 19 1.000 19 132 4,695 4 6,9482013 29 1.000 29 409 5,132 6 14,1062014 18 1.000 18 1,287 5,849 3 71,4982015 15 1.000 15 2,209 6,090 2 147,3082016 15 1.000 15 77 7,507 2 5,1162017 18 1.076 19 109 7,436 3 5,644

TOTAL 422 423 $11,048

Notes:(1) & (5) - Per STATE OF ALASKA.(2) - Per STATE OF ALASKA's historical loss patterns. (3) = (1) x (2). (4) = Exhibit VI, Page 1A, Column (5).(6) = [(3) / [(5) / 1000]] ; (7) = [(3) / (4)] x 1000.* All Report Years are 12-month periods ending 6/30 of the stated year.




PROPERTY

R:\clientsPtoZ\State of Alaska\2017\Property_2017\LDA_COUNT10/12/2017 11:37 AM



1 2 3 4 5 6 7 8 9 1033.2% 90.7% 99.5% 99.9% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%33.2% 57.5% 8.7% 0.5% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0%

86.1% 13.1% 0.7% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0%33.2% 57.5% 8.7% 0.5% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0%


Prior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $01994 $65 0 0 0 0 0 0 0 0 0 0 01995 853 0 0 0 0 0 0 0 0 0 0 01996 52 0 0 0 0 0 0 0 0 0 0 01997 823 0 0 0 0 0 0 0 0 0 0 01998 1,104 0 0 0 0 0 0 0 0 0 0 01999 122 0 0 0 0 0 0 0 0 0 0 02000 388 0 0 0 0 0 0 0 0 0 0 02001 583 0 0 0 0 0 0 0 0 0 0 02002 183 0 0 0 0 0 0 0 0 0 0 02003 229 0 0 0 0 0 0 0 0 0 0 02004 229 0 0 0 0 0 0 0 0 0 0 02005 1,577 0 0 0 0 0 0 0 0 0 0 02006 89 0 0 0 0 0 0 0 0 0 0 02007 1,300 0 0 0 0 0 0 0 0 0 0 02008 1,090 0 0 0 0 0 0 0 0 0 0 02009 438 0 0 0 0 0 0 0 0 0 0 02010 229 0 0 0 0 0 0 0 0 0 0 02011 367 0 0 0 0 0 0 0 0 0 0 02012 132 0 0 0 0 0 0 0 0 0 0 02013 409 0 0 0 0 0 0 0 0 0 0 02014 1,287 0 0 0 0 0 0 0 0 0 0 02015 2,209 700 582 117 0 0 0 0 0 0 0 02016 77 52 49 3 1 0 0 0 0 0 0 02017 109 96 82 13 1 0 0 0 0 0 0 02018 799 265 460 70 4 1 0 0 0 0 02019 847 281 487 74 4 1 0 0 0 02020 898 298 517 78 4 1 0 0 0

TOTAL $16,490 $849 $981 $873 $856 $594 $83 $5 $1 $0 $0 $0


($AMOUNTS IN '000s)








PROPERTY

R:\clientsPtoZ\State of Alaska\2017\Property_2017\CASHFLOW_DISC10/12/2017 11:37 AM




(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12)

Prior 205 426 95 70 39 29 13 8 3 2 1 8912010 3 8 0 3 0 0 1 0 0 0 0 152011 6 7 1 5 4 0 1 0 0 0 0 242012 8 5 2 2 1 1 0 0 0 0 0 192013 15 5 2 5 1 0 0 1 0 0 0 292014 4 8 2 1 1 0 1 0 0 0 1 182015 6 4 2 0 0 0 1 0 0 0 2 152016 8 5 0 1 1 0 0 0 0 0 0 152017 3 7 6 2 0 0 0 0 0 0 0 18

TOTAL $258 $2


Prior ($3,263) $670 $703 $1,079 $1,431 $2,178 $2,211 $2,932 $1,845 $1,665 $1,437 $12,8892010 0 16 0 48 0 0 164 0 0 0 0 2292011 0 16 7 65 138 0 142 0 0 0 0 3672012 0 9 16 24 30 53 0 0 0 0 0 1322013 0 10 14 95 36 0 0 254 0 0 0 4092014 0 19 14 23 34 0 196 0 0 0 4,078 4,3652015 0 7 18 0 0 0 184 0 0 0 2,766 2,9762016 0 8 0 19 50 0 0 0 0 0 0 762017 0 17 54 35 0 0 0 0 0 0 0 106

TOTAL ($3,263) $773 $827 $1,388 $1,718 $2,231 $2,897 $3,186 $1,845 $1,665 $8,281 $21,548



REPORTED LOSSES



PROPERTY

R:\clientsPtoZ\State of Alaska\2017\Property_2017\LOSS_DIST10/12/2017 11:37 AM


APPENDIX APAGE 1 OF 6

CALCULATION OF DISCOUNT FACTORSAS OF JUNE 30, 2017

REMAINING PRESENT PRESENTCUMULATIVE PAYMENTS AT VALUE OF VALUE

PAYMENT PAYMENT INCREMENTAL THE BEGINNING DISCOUNT REMAINING DISCOUNTYEARS PATTERN PAYMENTS OF PERIOD FACTOR PAYMENTS FACTOR

(1) (2) (3) (4) (5) (6) (7)

1 24.6% 24.6% 100.0% 0.985 86.4% 0.8642 47.3% 22.7% 75.4% 0.957 64.1% 0.8503 57.6% 10.3% 52.7% 0.929 42.9% 0.8154 63.0% 5.4% 42.4% 0.902 33.8% 0.7975 66.7% 3.7% 37.0% 0.875 29.3% 0.7926 69.9% 3.2% 33.3% 0.850 26.5% 0.7947 72.6% 2.8% 30.1% 0.825 24.0% 0.7978 75.1% 2.5% 27.4% 0.801 21.9% 0.8019 77.3% 2.1% 24.9% 0.778 20.1% 0.80610 79.1% 1.9% 22.7% 0.755 18.5% 0.81311 80.9% 1.8% 20.9% 0.733 17.1% 0.82212 82.6% 1.7% 19.1% 0.712 15.9% 0.83113 84.4% 1.7% 17.4% 0.691 14.6% 0.84014 86.1% 1.7% 15.6% 0.671 13.3% 0.84815 87.8% 1.7% 13.9% 0.651 11.9% 0.85616 89.6% 1.8% 12.2% 0.632 10.6% 0.86317 90.9% 1.4% 10.4% 0.614 9.1% 0.86818 92.2% 1.3% 9.1% 0.596 7.9% 0.87519 93.2% 1.0% 7.8% 0.579 6.9% 0.88320 94.2% 1.0% 6.8% 0.562 6.1% 0.89421 94.9% 0.7% 5.8% 0.546 5.3% 0.90522 95.6% 0.6% 5.1% 0.530 4.7% 0.92023 96.1% 0.6% 4.4% 0.514 4.2% 0.93924 96.5% 0.4% 3.9% 0.499 3.7% 0.95925 100.0% 3.5% 3.5% 0.485 3.4% 0.98526 100.0% 0.0% 0.0% 0.471 0.0% 1.00027 100.0% 0.0% 0.0% 0.457 0.0% 1.00028 100.0% 0.0% 0.0% 0.444 0.0% 1.00029 100.0% 0.0% 0.0% 0.431 0.0% 1.00030 100.0% 0.0% 0.0% 0.418 0.0% 1.00031 100.0% 0.0% 0.0% 0.406 0.0% 1.00032 100.0% 0.0% 0.0% 0.394 0.0% 1.00033 100.0% 0.0% 0.0% 0.383 0.0% 1.00034 100.0% 0.0% 0.0% 0.371 0.0% 1.00035 100.0% 0.0% 0.0% 0.361 0.0% 1.00036 100.0% 0.0% 0.0% 0.350 0.0% 1.00037 100.0% 0.0% 0.0% 0.340 0.0% 1.00038 100.0% 0.0% 0.0% 0.330 0.0% 1.000

Notes:(2) - Per STATE OF ALASKA's historical loss patterns .(3) - Cumulative Payment Pattern for current year less Cumulative Payment Pattern for prior year.(4) = 1 - Cumulative Payment Pattern for prior year.(5) & (6) - Per AMI calculations.(7) = (6) / (4).

Assumptions:Rate of Return: 3.0%Starting Year: 0Ending Year: 26



R:\clientsPtoZ\State of Alaska\2017\WC_2017\DISC_FCT10/12/2017 10:55 AM






(1) (2) (3) (4) (5) (6) (7)

1 2.6% 2.6% 100.0% 0.985 87.7% 0.8772 10.0% 7.4% 97.4% 0.957 87.6% 0.9003 26.8% 16.8% 90.0% 0.929 82.8% 0.9204 52.1% 25.4% 73.2% 0.902 68.3% 0.9325 68.2% 16.0% 47.9% 0.875 44.6% 0.9316 76.9% 8.7% 31.8% 0.850 29.6% 0.9317 85.3% 8.4% 23.1% 0.825 21.7% 0.9378 90.9% 5.7% 14.7% 0.801 13.8% 0.9379 94.4% 3.5% 9.1% 0.778 8.5% 0.935

10 96.1% 1.7% 5.6% 0.755 5.2% 0.93011 97.2% 1.1% 3.9% 0.733 3.6% 0.93312 98.1% 0.9% 2.8% 0.712 2.7% 0.94013 98.6% 0.5% 1.9% 0.691 1.8% 0.94514 99.2% 0.5% 1.4% 0.671 1.3% 0.95815 99.7% 0.5% 0.8% 0.651 0.8% 0.96816 99.8% 0.2% 0.3% 0.632 0.3% 0.97017 100.0% 0.2% 0.2% 0.614 0.2% 1.00018 100.0% 0.0% 0.0% 0.596 0.0% 1.00019 100.0% 0.0% 0.0% 0.579 0.0% 1.00020 100.0% 0.0% 0.0% 0.562 0.0% 1.00021 100.0% 0.0% 0.0% 0.546 0.0% 1.00022 100.0% 0.0% 0.0% 0.530 0.0% 1.00023 100.0% 0.0% 0.0% 0.514 0.0% 1.00024 100.0% 0.0% 0.0% 0.499 0.0% 1.00025 100.0% 0.0% 0.0% 0.485 0.0% 1.00026 100.0% 0.0% 0.0% 0.471 0.0% 1.00027 100.0% 0.0% 0.0% 0.457 0.0% 1.00028 100.0% 0.0% 0.0% 0.444 0.0% 1.00029 100.0% 0.0% 0.0% 0.431 0.0% 1.00030 100.0% 0.0% 0.0% 0.418 0.0% 1.00031 100.0% 0.0% 0.0% 0.406 0.0% 1.00032 100.0% 0.0% 0.0% 0.394 0.0% 1.00033 100.0% 0.0% 0.0% 0.383 0.0% 1.00034 100.0% 0.0% 0.0% 0.371 0.0% 1.00035 100.0% 0.0% 0.0% 0.361 0.0% 1.00036 100.0% 0.0% 0.0% 0.350 0.0% 1.00037 100.0% 0.0% 0.0% 0.340 0.0% 1.00038 100.0% 0.0% 0.0% 0.330 0.0% 1.000




GENERAL LIABILITY

R:\clientsPtoZ\State of Alaska\2017\General Liability_2017\DISC_FCT10/12/2017 11:09 AM






(1) (2) (3) (4) (5) (6) (7)

1 34.2% 34.2% 100.0% 0.985 95.1% 0.9512 62.9% 28.7% 65.8% 0.957 63.2% 0.9623 86.8% 23.9% 37.1% 0.929 36.1% 0.9724 96.2% 9.4% 13.2% 0.902 12.9% 0.9755 99.1% 2.9% 3.8% 0.875 3.7% 0.9786 100.0% 0.9% 0.9% 0.850 0.9% 1.0007 100.0% 0.0% 0.0% 0.825 0.0% 1.0008 100.0% 0.0% 0.0% 0.801 0.0% 1.0009 100.0% 0.0% 0.0% 0.778 0.0% 1.000

10 100.0% 0.0% 0.0% 0.755 0.0% 1.00011 100.0% 0.0% 0.0% 0.733 0.0% 1.00012 100.0% 0.0% 0.0% 0.712 0.0% 1.00013 100.0% 0.0% 0.0% 0.691 0.0% 1.00014 100.0% 0.0% 0.0% 0.671 0.0% 1.00015 100.0% 0.0% 0.0% 0.651 0.0% 1.00016 100.0% 0.0% 0.0% 0.632 0.0% 1.00017 100.0% 0.0% 0.0% 0.614 0.0% 1.00018 100.0% 0.0% 0.0% 0.596 0.0% 1.00019 100.0% 0.0% 0.0% 0.579 0.0% 1.00020 100.0% 0.0% 0.0% 0.562 0.0% 1.00021 100.0% 0.0% 0.0% 0.546 0.0% 1.00022 100.0% 0.0% 0.0% 0.530 0.0% 1.00023 100.0% 0.0% 0.0% 0.514 0.0% 1.00024 100.0% 0.0% 0.0% 0.499 0.0% 1.00025 100.0% 0.0% 0.0% 0.485 0.0% 1.00026 100.0% 0.0% 0.0% 0.471 0.0% 1.00027 100.0% 0.0% 0.0% 0.457 0.0% 1.00028 100.0% 0.0% 0.0% 0.444 0.0% 1.00029 100.0% 0.0% 0.0% 0.431 0.0% 1.00030 100.0% 0.0% 0.0% 0.418 0.0% 1.00031 100.0% 0.0% 0.0% 0.406 0.0% 1.00032 100.0% 0.0% 0.0% 0.394 0.0% 1.00033 100.0% 0.0% 0.0% 0.383 0.0% 1.00034 100.0% 0.0% 0.0% 0.371 0.0% 1.00035 100.0% 0.0% 0.0% 0.361 0.0% 1.00036 100.0% 0.0% 0.0% 0.350 0.0% 1.00037 100.0% 0.0% 0.0% 0.340 0.0% 1.00038 100.0% 0.0% 0.0% 0.330 0.0% 1.000




AUTO LIABILITY

R:\clientsPtoZ\State of Alaska\2017\Automobile Liability_2017\DISC_FCT10/12/2017 11:16 AM






(1) (2) (3) (4) (5) (6) (7)

1 35.6% 35.6% 100.0% 0.985 95.3% 0.9532 61.8% 26.2% 64.4% 0.957 62.0% 0.9633 88.4% 26.6% 38.2% 0.929 37.3% 0.9764 99.6% 11.3% 11.6% 0.902 11.4% 0.9845 99.9% 0.2% 0.4% 0.875 0.3% 0.9726 100.0% 0.1% 0.1% 0.850 0.1% 1.0007 100.0% 0.0% 0.0% 0.825 0.0% 1.0008 100.0% 0.0% 0.0% 0.801 0.0% 1.0009 100.0% 0.0% 0.0% 0.778 0.0% 1.000

10 100.0% 0.0% 0.0% 0.755 0.0% 1.00011 100.0% 0.0% 0.0% 0.733 0.0% 1.00012 100.0% 0.0% 0.0% 0.712 0.0% 1.00013 100.0% 0.0% 0.0% 0.691 0.0% 1.00014 100.0% 0.0% 0.0% 0.671 0.0% 1.00015 100.0% 0.0% 0.0% 0.651 0.0% 1.00016 100.0% 0.0% 0.0% 0.632 0.0% 1.00017 100.0% 0.0% 0.0% 0.614 0.0% 1.00018 100.0% 0.0% 0.0% 0.596 0.0% 1.00019 100.0% 0.0% 0.0% 0.579 0.0% 1.00020 100.0% 0.0% 0.0% 0.562 0.0% 1.00021 100.0% 0.0% 0.0% 0.546 0.0% 1.00022 100.0% 0.0% 0.0% 0.530 0.0% 1.00023 100.0% 0.0% 0.0% 0.514 0.0% 1.00024 100.0% 0.0% 0.0% 0.499 0.0% 1.00025 100.0% 0.0% 0.0% 0.485 0.0% 1.00026 100.0% 0.0% 0.0% 0.471 0.0% 1.00027 100.0% 0.0% 0.0% 0.457 0.0% 1.00028 100.0% 0.0% 0.0% 0.444 0.0% 1.00029 100.0% 0.0% 0.0% 0.431 0.0% 1.00030 100.0% 0.0% 0.0% 0.418 0.0% 1.00031 100.0% 0.0% 0.0% 0.406 0.0% 1.00032 100.0% 0.0% 0.0% 0.394 0.0% 1.00033 100.0% 0.0% 0.0% 0.383 0.0% 1.00034 100.0% 0.0% 0.0% 0.371 0.0% 1.00035 100.0% 0.0% 0.0% 0.361 0.0% 1.00036 100.0% 0.0% 0.0% 0.350 0.0% 1.00037 100.0% 0.0% 0.0% 0.340 0.0% 1.00038 100.0% 0.0% 0.0% 0.330 0.0% 1.000




MARINE

R:\clientsPtoZ\State of Alaska\2017\Marine_2017\DISC_FCT10/12/2017 11:26 AM






(1) (2) (3) (4) (5) (6) (7)

1 26.5% 26.5% 100.0% 0.985 94.0% 0.9402 52.2% 25.7% 73.5% 0.957 69.9% 0.9523 74.7% 22.5% 47.8% 0.929 46.0% 0.9624 88.6% 13.9% 25.3% 0.902 24.5% 0.9705 97.5% 8.8% 11.4% 0.875 11.1% 0.9796 100.0% 2.5% 2.5% 0.850 2.5% 1.0007 100.0% 0.0% 0.0% 0.825 0.0% 1.0008 100.0% 0.0% 0.0% 0.801 0.0% 1.0009 100.0% 0.0% 0.0% 0.778 0.0% 1.000

10 100.0% 0.0% 0.0% 0.755 0.0% 1.00011 100.0% 0.0% 0.0% 0.733 0.0% 1.00012 100.0% 0.0% 0.0% 0.712 0.0% 1.00013 100.0% 0.0% 0.0% 0.691 0.0% 1.00014 100.0% 0.0% 0.0% 0.671 0.0% 1.00015 100.0% 0.0% 0.0% 0.651 0.0% 1.00016 100.0% 0.0% 0.0% 0.632 0.0% 1.00017 100.0% 0.0% 0.0% 0.614 0.0% 1.00018 100.0% 0.0% 0.0% 0.596 0.0% 1.00019 100.0% 0.0% 0.0% 0.579 0.0% 1.00020 100.0% 0.0% 0.0% 0.562 0.0% 1.00021 100.0% 0.0% 0.0% 0.546 0.0% 1.00022 100.0% 0.0% 0.0% 0.530 0.0% 1.00023 100.0% 0.0% 0.0% 0.514 0.0% 1.00024 100.0% 0.0% 0.0% 0.499 0.0% 1.00025 100.0% 0.0% 0.0% 0.485 0.0% 1.00026 100.0% 0.0% 0.0% 0.471 0.0% 1.00027 100.0% 0.0% 0.0% 0.457 0.0% 1.00028 100.0% 0.0% 0.0% 0.444 0.0% 1.00029 100.0% 0.0% 0.0% 0.431 0.0% 1.00030 100.0% 0.0% 0.0% 0.418 0.0% 1.00031 100.0% 0.0% 0.0% 0.406 0.0% 1.00032 100.0% 0.0% 0.0% 0.394 0.0% 1.00033 100.0% 0.0% 0.0% 0.383 0.0% 1.00034 100.0% 0.0% 0.0% 0.371 0.0% 1.00035 100.0% 0.0% 0.0% 0.361 0.0% 1.00036 100.0% 0.0% 0.0% 0.350 0.0% 1.00037 100.0% 0.0% 0.0% 0.340 0.0% 1.00038 100.0% 0.0% 0.0% 0.330 0.0% 1.000




AVIATION

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(1) (2) (3) (4) (5) (6) (7)

1 33.2% 33.2% 100.0% 0.985 96.3% 0.9632 90.7% 57.5% 66.8% 0.957 65.5% 0.9813 99.5% 8.7% 9.3% 0.929 9.1% 0.9834 99.9% 0.5% 0.5% 0.902 0.5% 0.9815 100.0% 0.1% 0.1% 0.875 0.1% 1.0006 100.0% 0.0% 0.0% 0.850 0.0% 1.0007 100.0% 0.0% 0.0% 0.825 0.0% 1.0008 100.0% 0.0% 0.0% 0.801 0.0% 1.0009 100.0% 0.0% 0.0% 0.778 0.0% 1.000

10 100.0% 0.0% 0.0% 0.755 0.0% 1.00011 100.0% 0.0% 0.0% 0.733 0.0% 1.00012 100.0% 0.0% 0.0% 0.712 0.0% 1.00013 100.0% 0.0% 0.0% 0.691 0.0% 1.00014 100.0% 0.0% 0.0% 0.671 0.0% 1.00015 100.0% 0.0% 0.0% 0.651 0.0% 1.00016 100.0% 0.0% 0.0% 0.632 0.0% 1.00017 100.0% 0.0% 0.0% 0.614 0.0% 1.00018 100.0% 0.0% 0.0% 0.596 0.0% 1.00019 100.0% 0.0% 0.0% 0.579 0.0% 1.00020 100.0% 0.0% 0.0% 0.562 0.0% 1.00021 100.0% 0.0% 0.0% 0.546 0.0% 1.00022 100.0% 0.0% 0.0% 0.530 0.0% 1.00023 100.0% 0.0% 0.0% 0.514 0.0% 1.00024 100.0% 0.0% 0.0% 0.499 0.0% 1.00025 100.0% 0.0% 0.0% 0.485 0.0% 1.00026 100.0% 0.0% 0.0% 0.471 0.0% 1.00027 100.0% 0.0% 0.0% 0.457 0.0% 1.00028 100.0% 0.0% 0.0% 0.444 0.0% 1.00029 100.0% 0.0% 0.0% 0.431 0.0% 1.00030 100.0% 0.0% 0.0% 0.418 0.0% 1.00031 100.0% 0.0% 0.0% 0.406 0.0% 1.00032 100.0% 0.0% 0.0% 0.394 0.0% 1.00033 100.0% 0.0% 0.0% 0.383 0.0% 1.00034 100.0% 0.0% 0.0% 0.371 0.0% 1.00035 100.0% 0.0% 0.0% 0.361 0.0% 1.00036 100.0% 0.0% 0.0% 0.350 0.0% 1.00037 100.0% 0.0% 0.0% 0.340 0.0% 1.00038 100.0% 0.0% 0.0% 0.330 0.0% 1.000




PROPERTY

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APPENDIX BPAGE 1 OF 7

1. Estimated net undiscounted reserves at 6/30/2016 $162,110

2. Loss payments during 2017 for report years 2016 and prior ($22,950)

3. Change in estimated ultimate losses for report years 2016 and prior ($4,325) due to re-evaluation at 6/30/2017

4. Estimated ultimate losses for report year 2017 $31,040

5. Loss payments during 2017 for report year 2017 ($5,416)


Notes:(1) - Per 2016 Madison Actuarial Report.(2) - Total from Appendix C, Column (3). (3) - Total from Appendix D, Column (3). (4) - Total from Exhibits I to VI, Page 1, Column (5) for report year 2017.(5) - Per STATE OF ALASKA.(6) = Sum of (1) through (5).


AS OF JUNE 30, 2017ANALYSIS OF NET UNDISCOUNTED RESERVE CHANGE

ALL COVERAGES COMBINED($AMTS IN THOUSANDS)

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3. Change in estimated ultimate losses for report years 2016 and prior ($7,096) due to re-evaluation at 6/30/2017


5. Loss payments during 2017 for report year 2017 ($5,019)


Notes:(1) - Per 2016 Actuarial Report.(2) - Total from Appendix D, Page 1, Column (3). (2) - Total from Appendix C, Page 1, Column (3). (4) - See Exhibit I, Page 1A, Column (5), for report year 2017.(5) - Per STATE OF ALASKA.(6) = Sum of (1) through (5).



ANALYSIS OF NET UNDISCOUNTED RESERVE CHANGEAS OF JUNE 30, 2017


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3. Change in estimated ultimate losses for report years 2016 and prior $4,101 due to re-evaluation at 6/30/2017


5. Loss payments during 2017 for report year 2017 ($50)


Notes:(1) - Per 2016 Actuarial Report.(2) - Total from Appendix D, Page 2, Column (3). (2) - Total from Appendix C, Page 2, Column (3). (4) - See Exhibit II, Page 1A, Column (5), for report year 2017.(5) - Per STATE OF ALASKA.(6) = Sum of (1) through (5).




GENERAL LIABILITY

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2. Loss payments during 2017 for report years 2016 and prior ($254)

3. Change in estimated ultimate losses for report years 2016 and prior ($655) due to re-evaluation at 6/30/2017

4. Estimated ultimate losses for report year 2017 $306


6. Estimated net undiscounted reserves at 6/30/2017 $493

Notes:(1) - Per 2016 Actuarial Report.(2) - Total from Appendix D, Page 3, Column (3). (2) - Total from Appendix C, Page 3, Column (3). (4) - See Exhibit III, Page 1A, Column (5), for report year 2017.(5) - Per STATE OF ALASKA.(6) = Sum of (1) through (5).




AUTO LIABILITY

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3. Change in estimated ultimate losses for report years 2016 and prior $500 due to re-evaluation at 6/30/2017




Notes:(1) - Per 2016 Actuarial Report.(2) - Total from Appendix D, Page 4, Column (3). (2) - Total from Appendix C, Page 4, Column (3). (4) - See Exhibit IV, Page 1A, Column (5), for report year 2017.(5) - Per STATE OF ALASKA.(6) = Sum of (1) through (5).




MARINE

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Notes:(1) - Per 2016 Actuarial Report.(2) - Total from Appendix D, Page 5, Column (3). (2) - Total from Appendix C, Page 5, Column (3). (4) - See Exhibit V, Page 1A, Column (5), for report year 2017.(5) - Per STATE OF ALASKA.(6) = Sum of (1) through (5).




AVIATION

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Notes:(1) - Per 2016 Actuarial Report.(2) - Total from Appendix D, Page 6, Column (3). (2) - Total from Appendix C, Page 6, Column (3). (4) - See Exhibit VI, Page 1A, Column (5), for report year 2017.(5) - Per STATE OF ALASKA.(6) = Sum of (1) through (5).




PROPERTY

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APPENDIX CPAGE 1 OF 6

INCREASEREPORT ORYEAR* @6/30/2016 @6/30/2017 DECREASE

(1) (2) (3)

Prior (Reserve) $6,178 $4,895 ($1,283)1994 8,050 8,056 61995 15,000 15,129 1291996 11,875 12,422 5471997 13,600 12,449 (1,151)1998 10,600 10,588 (12)1999 13,650 13,869 2192000 17,000 17,098 982001 19,250 20,123 8732002 20,500 21,300 8002003 20,250 20,263 132004 22,000 22,098 982005 23,500 22,971 (529)2006 20,000 21,206 1,2062007 23,000 23,539 5392008 21,000 20,763 (237)2009 22,250 21,804 (446)2010 33,500 30,722 (2,778)2011 32,000 30,888 (1,112)2012 27,500 27,422 (78)2013 31,000 31,451 4512014 29,500 28,131 (1,369)2015 26,500 25,624 (876)2016 27,000 24,796 (2,204)

TOTAL $494,703 $487,607 ($7,096)

Notes:(1) - Per 2016 Actuarial Report.(2) - Per Exhibit I, Page 1A, Column (5).(3) = (2) - (1).* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

ESTIMATED ULTIMATE LOSSES



COMPARISON OF ESTIMATED ULTIMATE LOSSESAS OF JUNE 30, 2017

UNLIMITED

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(1) (2) (3)

Prior (Reserve) $10 $0 ($10)1994 4,789 5,021 2311995 5,410 5,410 (0)1996 5,965 5,965 01997 2,841 2,841 01998 4,724 4,724 01999 5,327 5,327 02000 7,453 7,453 02001 4,494 4,494 02002 2,967 3,055 882003 4,369 4,369 (0)2004 7,603 7,603 (0)2005 6,782 6,958 1762006 8,238 8,238 (0)2007 5,500 5,908 4082008 6,400 6,250 (150)2009 2,600 2,507 (93)2010 1,500 1,527 272011 4,900 5,093 1932012 7,400 7,644 2442013 2,750 3,258 5082014 3,500 4,045 5452015 3,500 3,540 402016 3,500 5,392 1,892

TOTAL $112,523 $116,623 $4,101

Notes:(1) - Per 2016 Actuarial Report.(2) - Per Exhibit II, Page 1A, Column (5).(3) = (2) - (1).* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)


GENERAL LIABILITY



UNLIMITED

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(1) (2) (3)

Prior (Reserve) $0 $0 $01994 614 614 01995 1,078 1,078 01996 245 245 (0)1997 657 657 (0)1998 1,630 1,630 01999 1,594 1,594 02000 857 857 02001 2,363 2,363 02002 1,737 1,737 02003 445 445 (0)2004 965 965 02005 329 329 02006 512 510 (1)2007 309 309 02008 418 418 (0)2009 322 322 02010 2,813 2,813 02011 668 666 (2)2012 1,500 1,483 (17)2013 450 427 (23)2014 500 496 (4)2015 550 307 (243)2016 600 234 (366)

TOTAL $21,157 $20,501 ($655)

Notes:(1) - Per 2016 Actuarial Report.(2) - Per Exhibit III, Page 1A, Column (5).(3) = (2) - (1).* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)


AUTO LIABILITY



UNLIMITED

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(1) (2) (3)

Prior $0 $0 $01994 961 961 01995 2,768 2,768 01996 1,185 1,185 (0)1997 3,264 3,264 01998 1,711 1,711 01999 1,982 1,982 (0)2000 3,044 3,044 02001 3,531 3,531 (0)2002 3,514 3,514 02003 2,943 2,943 02004 1,408 1,408 02005 667 667 02006 965 965 02007 1,936 1,936 02008 596 596 (0)2009 1,332 1,332 02010 133 133 02011 660 660 (0)2012 642 642 02013 900 880 (20)2014 135 121 (14)2015 250 87 (163)2016 750 1,447 697

TOTAL $35,278 $35,778 $500

Notes:(1) - Per 2016 Actuarial Report.(2) - Per Exhibit IV, Page 1, Column (5).(3) = (2) - (1).* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)


MARINE




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(1) (2) (3)

Prior (Reserve) $0 $0 $01994 239 239 01995 370 370 01996 61 61 01997 130 130 01998 461 461 01999 165 165 02000 109 109 02001 795 795 02002 251 251 02003 100 100 02004 15 15 02005 96 96 02006 392 392 02007 26 26 02008 486 486 02009 864 864 02010 37 37 (0)2011 395 395 02012 450 412 (38)2013 324 327 42014 100 20 (80)2015 350 341 (9)2016 375 65 (311)

TOTAL $6,590 $6,157 ($433)

Notes:(1) - Per 2016 Actuarial Report.(2) - Per Exhibit V, Page 1, Column (5).(3) = (2) - (1).* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)


AVIATION




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(1) (2) (3)

Prior $0 $0 $01994 65 65 01995 853 853 (0)1996 76 52 (24)1997 823 823 01998 1,104 1,104 (0)1999 122 122 02000 388 388 02001 583 583 02002 183 183 02003 229 229 02004 229 229 (0)2005 1,577 1,577 (0)2006 89 89 02007 1,300 1,300 (0)2008 1,090 1,090 02009 438 438 02010 229 229 02011 367 367 02012 136 132 (5)2013 409 409 02014 1,286 1,287 02015 2,250 2,209 (41)2016 750 77 (673)

TOTAL $14,578 $13,837 ($741)

Notes:(1) - Per 2016 Actuarial Report.(2) - Per Exhibit VI, Page 1, Column (5).(3) = (2) - (1).* All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)


PROPERTY




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APPENDIX DPAGE 1 OF 6


(1) (2) (3)

Prior1994 $7,841 $7,834 ($7)1995 12,894 13,092 1981996 11,316 11,463 1471997 10,870 11,106 2351998 9,586 9,758 1721999 11,947 12,105 1582000 13,385 13,928 5422001 17,097 17,337 2402002 17,285 17,614 3292003 16,990 17,351 3612004 19,170 19,432 2622005 18,341 18,616 2752006 16,695 17,153 4592007 18,006 18,503 4972008 15,473 15,690 2172009 16,551 17,107 5552010 21,046 21,474 4292011 22,338 22,770 4322012 18,877 19,729 8522013 19,522 20,163 6412014 14,870 16,370 1,5002015 12,374 14,754 2,3802016 5,452 10,864 5,412

TOTAL $347,924 $364,210 $16,286

Notes:(1) - Per 2016 Actuarial Report.(2) - Exhibit I, Page 1A, Column (6).(3) = (2) - (1). * All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

PAID LOSSES



COMPARISON OF PAID LOSSESAS OF JUNE 30, 2017

UNLIMITED

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(1) (2) (3)

Prior1994 $4,789 $4,973 $1841995 5,410 5,410 (0)1996 5,965 5,965 01997 2,841 2,841 01998 4,724 4,724 (0)1999 5,327 5,327 (0)2000 7,453 7,453 02001 4,494 4,494 02002 2,967 3,024 572003 4,369 4,369 (0)2004 7,603 7,603 (0)2005 6,782 6,917 1352006 8,238 8,238 (0)2007 5,291 5,795 5042008 6,127 6,140 132009 2,449 2,507 582010 1,357 1,358 12011 4,538 4,621 832012 7,045 7,156 1122013 1,531 2,433 9012014 1,799 2,877 1,0782015 378 1,351 9732016 96 1,230 1,133

TOTAL $101,575 $106,807 $5,233

Notes:(1) - Per 2016 Actuarial Report.(2) - Exhibit II, Page 1A, Column (6).(3) = (2) - (1). * All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

PAID LOSSES

GENERAL LIABILITY



UNLIMITED

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(1) (2) (3)

Prior1994 $614 $614 $01995 1,078 1,078 (0)1996 245 245 (0)1997 657 657 (0)1998 1,630 1,630 (0)1999 1,594 1,594 02000 857 857 02001 2,363 2,363 02002 1,737 1,737 (0)2003 445 445 (0)2004 965 965 (0)2005 329 329 02006 512 510 (1)2007 309 309 (0)2008 418 418 (0)2009 322 322 02010 2,813 2,813 (0)2011 666 666 12012 1,363 1,383 202013 425 425 (0)2014 336 426 902015 192 278 872016 95 154 59

TOTAL $19,965 $20,219 $254

Notes:(1) - Per 2016 Actuarial Report.(2) - Exhibit III, Page 1A, Column (6).(3) = (2) - (1). * All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

PAID LOSSES

AUTO LIABILITY



UNLIMITED

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(1) (2) (3)

Prior1994 $961 $961 $01995 2,768 2,768 01996 1,185 1,185 (0)1997 3,264 3,264 (0)1998 1,711 1,711 01999 1,982 1,982 (0)2000 3,044 3,044 02001 3,531 3,531 (0)2002 3,514 3,514 02003 2,943 2,943 02004 1,408 1,408 02005 667 667 02006 965 965 02007 1,936 1,936 02008 596 596 (0)2009 1,332 1,332 02010 133 133 02011 660 660 (0)2012 642 642 (0)2013 796 814 182014 120 120 (0)2015 43 64 212016 314 1,075 761

TOTAL $34,516 $35,316 $801

Notes:(1) - Per 2016 Actuarial Report.(2) - Exhibit IV, Page 1A, Column (6).(3) = (2) - (1). * All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

PAID LOSSES

MARINE




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(1) (2) (3)

Prior1994 $239 $239 $01995 370 370 (0)1996 61 61 01997 130 130 01998 461 461 01999 165 165 02000 109 109 (0)2001 795 795 (0)2002 251 251 02003 100 100 02004 15 15 (0)2005 96 96 02006 392 392 02007 26 26 02008 486 486 02009 864 864 02010 37 37 (0)2011 395 395 02012 412 412 (0)2013 324 324 (0)2014 1 12 112015 5 292 2872016 0 0 0

TOTAL $5,733 $6,032 $298

Notes:(1) - Per 2016 Actuarial Report.(2) - Exhibit V, Page 1A, Column (6).(3) = (2) - (1). * All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

PAID LOSSES

AVIATION




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(1) (2) (3)

Prior1994 $65 $65 ($0)1995 853 853 (0)1996 76 52 (24)1997 823 823 01998 1,104 1,104 (0)1999 122 122 02000 388 388 02001 583 583 02002 183 183 02003 229 229 (0)2004 229 229 (0)2005 1,577 1,577 (0)2006 89 89 (0)2007 1,300 1,300 (0)2008 1,090 1,090 02009 438 438 02010 229 229 02011 367 367 (0)2012 132 132 (0)2013 409 409 02014 1,286 1,286 02015 1,412 1,509 982016 20 24 4

TOTAL $13,005 $13,083 $78

Notes:(1) - Per 2016 Actuarial Report.(2) - Exhibit VI, Page 1A, Column (6).(3) = (2) - (1). * All Report Years are 12-month periods ending 6/30 of the stated year.

($AMOUNTS IN '000s)

PAID LOSSES

PROPERTY




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APPENDIX EPAGE 1 OF 6

STATUTORY WORKERS' AMHS CREW WORKERS'REPORT COMPENSATION COMPENSATIONYEAR* SELF-INSURED RETENTION SELF-INSURED RETENTION

1994 UNLIMITED N/A1995 UNLIMITED N/A1996 UNLIMITED N/A1997 UNLIMITED N/A1998 UNLIMITED N/A1999 UNLIMITED N/A2000 UNLIMITED N/A2001 UNLIMITED N/A2002 UNLIMITED UNLIMITED2003 UNLIMITED UNLIMITED2004 UNLIMITED UNLIMITED2005 UNLIMITED UNLIMITED2006 UNLIMITED UNLIMITED2007 UNLIMITED UNLIMITED2008 UNLIMITED UNLIMITED2009 UNLIMITED UNLIMITED2010 UNLIMITED UNLIMITED2011 UNLIMITED UNLIMITED2012 UNLIMITED UNLIMITED2013 UNLIMITED UNLIMITED2014 UNLIMITED UNLIMITED2015 UNLIMITED UNLIMITED2016 UNLIMITED UNLIMITED2017 UNLIMITED UNLIMITED



SELF-INSURED RETENTIONS BY FISCAL YEARAS OF JUNE 30, 2017


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GENERAL LIABILITY MEDICAL MALPRACTICEFISCAL SELF-INSURED SELF-INSUREDYEAR* RETENTION RETENTION

1994 5,000 5,0001995 5,000 5,0001996 5,000 5,0001997 5,000 5,0001998 5,000 5,0001999 5,000 5,0002000 5,000 5,0002001 5,000 5,0002002 UNLIMITED UNLIMITED2003 UNLIMITED UNLIMITED2004 UNLIMITED UNLIMITED2005 UNLIMITED UNLIMITED2006 UNLIMITED UNLIMITED2007 UNLIMITED UNLIMITED2008 UNLIMITED UNLIMITED2009 UNLIMITED UNLIMITED2010 UNLIMITED UNLIMITED2011 UNLIMITED UNLIMITED2012 UNLIMITED UNLIMITED2013 UNLIMITED UNLIMITED2014 UNLIMITED UNLIMITED2015 UNLIMITED UNLIMITED2016 UNLIMITED UNLIMITED2017 UNLIMITED UNLIMITED





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FISCAL SELF-INSUREDYEAR* RETENTION

1994 2,0001995 2,0001996 2,0001997 2,0001998 2,0001999 2,0002000 2,0002001 2,0002002 UNLIMITED2003 UNLIMITED2004 UNLIMITED2005 UNLIMITED2006 UNLIMITED2007 UNLIMITED2008 UNLIMITED2009 UNLIMITED2010 UNLIMITED2011 UNLIMITED2012 UNLIMITED2013 UNLIMITED2014 UNLIMITED2015 UNLIMITED2016 UNLIMITED2017 UNLIMITED





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PROTECTION & INDEMNITY HULL & MACHINERY AMHS FERRY DOCKSFISCAL SELF-INSURED SELF-INSURED SELF-INSUREDYEAR* RETENTION RETENTION RETENTION

1994 1,000 1,000 2501995 1,000 1,000 N/A1996 1,000 1,000 N/A1997 1,000 1,000 N/A1998 1,000 1,000 N/A1999 1,000 1,000 N/A2000 1,000 1,000 N/A2001 1,000 1,000 N/A2002 1,000 1,000 N/A2003 1,000 1,000 N/A2004 1,000 1,000 N/A2005 1,000 1,000 N/A2006 1,000 1,000 N/A2007 1,000 1,000 N/A2008 1,000 1,000 N/A2009 1,000 1,000 N/A2010 1,000 750 N/A2011 1,000 750 N/A2012 1,000 750 N/A2013 500 750 N/A2014 500 750 N/A2015 500 750 N/A2016 500 750 N/A2017 500 750 N/A





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1994 2501995 2501996 2501997 2501998 2501999 2502000 2502001 2502002 2502003 2502004 2502005 2502006 2502007 2502008 2502009 2502010 2502011 2502012 2502013 2502014 2502015 2502016 2502017 250





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1994 1,0001995 1,0001996 1,0001997 1,0001998 1,0001999 1,0002000 1,0002001 1,0002002 1,0002003 1,0002004 1,0002005 1,0002006 1,0002007 1,0002008 1,0002009 1,0002010 1,0002011 1,0002012 1,0002013 1,0002014 1,0002015 1,0002016 1,0002017 1,000





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APPENDIX FPAGE 1 OF 6

UNLIMITED PAID UNLIMITED CASE UNLIMITED INCURREDCLAIM EVENT CLAIM LOSSES RESERVES LOSSES

NUMBER DATE PERIOD @6/30/2017 @6/30/2017 @6/30/2017(1) (2) (3) (4) (5) (6)

2015-WC003465 7/6/2015 2016 $664,966 $2,020,077 $2,685,0432014-WC001849 5/1/2014 2014 204,042 1,096,782 1,300,8242014-WC001850 5/1/2014 2014 205,100 981,040 1,186,1402014-WC001830 4/28/2014 2014 391,766 1,197,675 1,589,4412014-WC001477 2/7/2014 2014 168,600 1,060,841 1,229,441

2012069646 10/5/2012 2013 712,488 624,662 1,337,1502012069541 8/8/2012 2013 462,080 1,900,409 2,362,4882010066411 11/18/2010 2011 1,490,563 3,045,782 4,536,3452010066250 10/12/2010 2011 1,080,581 156,628 1,237,2092009064429 8/3/2009 2010 674,968 696,589 1,371,5562009064282 7/13/2009 2010 1,738,993 5,396,846 7,135,8392007061791 10/22/2007 2008 406,647 1,034,031 1,440,6782007061612 10/12/2007 2008 614,039 1,143,680 1,757,7192007061178 7/17/2007 2008 1,047,892 82,629 1,130,5212007060961 5/29/2007 2007 1,867,245 1,608,722 3,475,9682006060349 12/29/2006 2007 369,872 940,747 1,310,6192006059115 3/31/2006 2006 772,957 836,121 1,609,0792006058933 2/21/2006 2006 1,052,771 367,561 1,420,3322005058474 9/1/2005 2006 665,887 1,072,048 1,737,9352005059607 6/14/2005 2005 449,973 997,701 1,447,6742005057729 6/13/2005 2005 974,386 1,406,546 2,380,9322004056815 12/12/2004 2005 1,781,132 248,311 2,029,4422004058285 11/12/2004 2005 603,835 464,124 1,067,9592003054127 6/24/2003 2003 900,047 381,327 1,281,3742003053062 3/17/2003 2003 680,398 396,035 1,076,432

4410007091-1 8/31/2002 2003 1,030,684 985,596 2,016,2804410006674-1 6/6/2002 2002 727,598 1,476,306 2,203,9044410005800-1 12/25/2001 2002 1,195,616 798,687 1,994,3024410005844-1 12/20/2001 2002 774,988 460,739 1,235,7274410005200-1 8/3/2001 2002 551,255 461,184 1,012,4394400100727-1 2/2/2001 2001 1,011,554 1,023,852 2,035,4064400100562-1 6/28/2000 2000 1,122,942 591,933 1,714,875201000011-1 1/5/2000 2000 2,139,542 968,301 3,107,844202000164-1 7/13/1999 2000 766,830 658,196 1,425,026202000071-1 6/23/1999 1999 372,174 828,713 1,200,887209901885-1 3/13/1999 1999 1,350,650 63,412 1,414,063209901880-1 2/22/1999 1999 830,397 409,002 1,239,399209701180-1 9/12/1997 1998 692,936 494,182 1,187,118400026116-1 2/12/1996 1996 691,787 602,393 1,294,180400024859-1 12/22/1994 1995 729,067 370,296 1,099,363400024243-1 9/26/1994 1995 834,781 305,130 1,139,911400023764-1 7/5/1994 1995 1,296,857 804,823 2,101,680400010072-1 2/8/1990 1990 1,408,548 307,330 1,715,877400009368-1 7/25/1989 1990 1,205,969 5,354 1,211,323400009346-1 5/15/1989 1989 1,717,503 0 1,717,503400008108-1 7/11/1988 1989 1,159,297 0 1,159,297400006005-1 8/27/1987 1988 1,060,246 747,011 1,807,257400005920-1 7/27/1987 1988 1,135,254 86,017 1,221,271400008295-1 9/28/1986 1987 1,266,117 653,150 1,919,267400001894-1 30,517 1984.000 1,079,749 1,361,030

Notes:(1) to (6) - Per STATE OF ALASKA.



AS OF JUNE 30, 2017LIST OF LARGE LOSSES

LOSSES GREATER THAN $1,000,000

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2015-GL004090 11/14/2015 2016 $751,705 $0 $751,7052015-GL004615 12/11/2015 2016 8,094 1,031,906 1,040,0002016-GL004212 1/10/2016 2016 69,429 1,000,000 1,069,4292015-GL004006 1/28/2015 2015 550,189 0 550,1892014-GL001779 4/4/2014 2014 752,547 0 752,5472012-GL002978 9/18/2012 2013 624,429 22,322 646,7522013-GL001549 4/1/2013 2013 588,484 0 588,484

2012068864 4/6/2012 2012 5,225,509 0 5,225,5092011067509 1/15/2011 2011 998,694 0 998,6942011070034 2/3/2011 2011 1,240,551 0 1,240,5512007064322 9/11/2007 2008 717,500 0 717,5002008065717 6/13/2008 2008 524,789 0 524,7892008066617 1/1/2008 2008 2,170,337 0 2,170,3372006060521 9/2/2006 2007 1,521,097 0 1,521,0972007064855 1/15/2007 2007 580,910 0 580,910

2006-GL001728 12/5/2006 2007 551,410 0 551,4102005058456 10/27/2005 2006 2,354,932 0 2,354,9322005058899 8/12/2005 2006 622,402 0 622,4022005061954 8/5/2005 2006 1,072,841 0 1,072,8412006059400 6/14/2006 2006 654,796 0 654,7962004056526 10/22/2004 2005 798,646 0 798,6462004056944 7/24/2004 2005 656,303 0 656,3032004057095 11/5/2004 2005 2,192,926 0 2,192,9262003054387 9/29/2003 2004 701,572 0 701,5722004054968 1/21/2004 2004 1,947,576 0 1,947,5762004055097 2/4/2004 2004 2,934,012 0 2,934,0122004056729 3/1/2004 2004 551,055 0 551,0552002053240 12/18/2002 2003 827,155 0 827,1552002055381 12/30/2002 2003 527,381 0 527,3812003052611 1/6/2003 2003 540,243 0 540,243

1100002116-1 10/21/2001 2002 554,891 0 554,8912000069903 8/1/2000 2001 1,196,403 0 1,196,403

1100002002-1 4/12/2001 2001 739,298 0 739,298100200011-1 7/29/1999 2000 864,518 0 864,518

1100002012-1 7/24/1999 2000 503,673 0 503,6731100011149-1 12/17/1999 2000 2,464,936 0 2,464,936202990829-1 10/7/1999 2000 1,006,803 0 1,006,8031998065647 9/18/1998 1999 1,365,742 0 1,365,742

1100002029-1 5/14/1999 1999 950,024 0 950,0241998061780 3/1/1998 1998 740,425 0 740,425100980154-1 12/23/1997 1998 869,526 0 869,526100980209-1 11/26/1997 1998 576,741 0 576,741100980217-1 8/27/1997 1998 548,325 0 548,325100960430-1 6/2/1996 1996 2,610,360 0 2,610,360100950459-1 12/22/1994 1995 2,415,599 0 2,415,599100950502-1 9/9/1994 1995 601,262 0 601,262100940264-1 12/30/1993 1994 931,432 0 931,432100940367-1 3/19/1994 1994 507,232 0 507,232100940423-1 2/8/1994 1994 1,286,997 0 1,286,997100930307-1 5/31/1993 1993 624,120 0 624,120100920287-1 9/17/1991 1992 2,926,293 0 2,926,293100920313-1 5/23/1992 1992 1,164,961 0 1,164,961

1100001036-1 8/8/1991 1992 684,730 0 684,730200910570-1 2/9/1991 1991 1,565,608 0 1,565,608200913910-1 2/24/1991 1991 515,157 0 515,157200901568-1 7/12/1988 1989 3,845,499 0 3,845,499202880467-1 9/2/1988 1989 1,771,066 0 1,771,066200880295-1 1/23/1988 1988 2,315,899 0 2,315,899200880295-3 1/23/1988 1988 660,000 0 660,000200880486-2 1/23/1988 1988 1,502,101 0 1,502,101200880486-3 1/23/1988 1988 556,819 0 556,819200880486-5 1/23/1988 1988 556,926 0 556,926202890724-1 9/27/1987 1988 891,799 0 891,799200863439-2 12/9/1986 1987 1,520,567 0 1,520,567200901138-1 8/26/1986 1987 721,941 0 721,941200901554-1 3/25/1987 1987 516,088 0 516,088400476287-1 5/12/1987 1987 562,315 0 562,315100860192-1 5/9/1986 1986 565,061 0 565,061200863096-1 6/22/1985 1985 1,208,630 0 1,208,630


GENERAL LIABILITY



LOSSES GREATER THAN $500,000

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2004055608 5/11/2004 2004 $422,133 $0 $422,1332006058876 1/28/2006 2006 268,712 0 268,7122009064385 8/3/2009 2010 2,322,715 0 2,322,7152010065910 7/22/2010 2011 465,557 0 465,5572012068624 3/15/2012 2012 1,052,695 0 1,052,695100980055-1 10/22/1997 1998 480,989 0 480,989100980055-2 10/22/1997 1998 266,341 0 266,341100990052-1 12/24/1998 1999 668,442 0 668,4421100001060-1 1/7/2001 2001 2,000,360 0 2,000,3601100002071-1 1/8/2000 2000 593,077 0 593,077200792574-1 7/30/1979 1980 297,345 0 297,345200903434-4 11/25/1990 1991 975,000 0 975,000200933741-1 12/1/1993 1994 350,429 0 350,429200943069-1 8/31/1994 1995 360,757 0 360,757200980932-1 6/18/1998 1998 253,734 0 253,734202890153-1 2/8/1989 1989 353,472 0 353,472202900891-1 11/4/1990 1991 387,829 0 387,829202980936-1 10/25/1998 1999 670,708 0 670,7082208020594-1 3/27/2002 2002 1,372,427 0 1,372,427


AUTO LIABILITY




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LIMITED PAID LIMITED CASE LIMITED INCURREDCLAIM EVENT CLAIM LOSSES RESERVES LOSSES


2016-PI004938 8/6/2015 2016 $750,000 $0 $750,0002012069714 11/2/2012 2013 391,474 65,241 456,7152009063544 1/30/2009 2009 782,014 0 782,0142009064249 6/14/2009 2009 271,321 0 271,3212008062552 6/10/2008 2008 272,712 0 272,7122006059907 9/25/2006 2007 649,138 0 649,1382007060920 5/19/2007 2007 420,372 0 420,3722006058859 1/27/2006 2006 782,276 0 782,2762005057094 1/12/2005 2005 252,448 0 252,4482004055580 5/10/2004 2004 1,000,000 0 1,000,0002003052615 1/4/2003 2003 531,481 0 531,481300004669-1 10/6/2001 2002 447,844 0 447,844300004772-1 11/27/2001 2002 453,350 0 453,350300004784-1 9/7/2001 2002 383,971 0 383,971300004919-1 4/12/2002 2002 565,556 0 565,556300005026-1 6/14/2002 2002 372,295 0 372,295300004121-1 9/30/2000 2001 388,066 0 388,066300004299-1 10/1/2000 2001 606,843 0 606,843100200136-1 6/6/2000 2000 1,000,000 0 1,000,000300004014-1 6/24/2000 2000 441,722 0 441,722300002856-1 8/12/1998 1999 522,606 0 522,606300002895-1 10/31/1998 1999 637,524 0 637,524300002627-1 8/12/1997 1998 577,705 0 577,705300002640-1 7/31/1997 1998 404,605 0 404,605100970309-1 7/13/1996 1997 343,018 0 343,018200002512-1 2/3/1997 1997 383,803 0 383,803300002460-1 9/11/1996 1997 296,226 0 296,226300002510-1 1/27/1997 1997 468,291 0 468,291300002577-1 6/5/1997 1997 269,961 0 269,961300002202-1 8/6/1995 1996 376,268 0 376,268300002074-1 10/29/1994 1995 262,614 0 262,614300002140-1 5/12/1995 1995 989,131 0 989,131300001673-1 9/19/1992 1993 252,986 0 252,986300001923-1 10/19/1992 1993 419,263 0 419,263100920028-1 7/13/1991 1992 529,977 0 529,977300001470-1 8/27/1991 1992 255,274 0 255,274300001505-1 10/29/1991 1992 578,476 0 578,476300001609-1 6/1/1992 1992 260,323 0 260,323100910093-1 2/1/1991 1991 436,440 0 436,440300001110-1 10/21/1989 1990 261,613 0 261,613100890022-1 9/22/1988 1989 331,912 0 331,912300000615-1 12/23/1988 1989 480,335 0 480,335


MARINE




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2013-HU000140 3/30/2013 2013 $250,000 $0 $250,0002009064043 5/13/2009 2009 250,000 0 250,0002009064104 5/12/2009 2009 250,000 0 250,0002008062288 4/10/2008 2008 250,000 0 250,0002006059175 4/21/2006 2006 250,000 0 250,000

1100002008-1 7/19/2001 2002 250,000 0 250,0002208015622-1 1/23/2001 2001 250,000 0 250,000100980097-1 12/5/1997 1998 250,000 0 250,000100950042-1 10/11/1994 1995 250,000 0 250,000100930378-1 11/12/1992 1993 250,000 0 250,000200921995-1 7/2/1992 1993 250,000 0 250,000


AVIATION




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2014-PR002322 8/25/2014 2015 $1,000,000 $0 $1,000,0002014-PR002338 8/30/2014 2015 300,034 699,966 1,000,0002014-PR001579 3/4/2014 2014 1,000,000 0 1,000,0002013-PR000041 3/11/2013 2013 254,000 0 254,000

2009064247 6/22/2009 2009 323,527 0 323,5272008062249 4/2/2008 2008 815,898 0 815,8982007060413 1/20/2007 2007 1,000,000 0 1,000,0002004056657 11/20/2004 2005 558,612 0 558,6122005057236 2/12/2005 2005 495,664 0 495,664

1100001054-1 12/16/2000 2001 471,008 0 471,008100980082-1 11/22/1997 1998 849,207 0 849,207100970126-1 12/22/1996 1997 385,454 0 385,454100950171-1 1/13/1995 1995 539,933 0 539,933100910126-1 4/2/1991 1991 284,894 0 284,894100900053-1 11/21/1989 1990 335,406 0 335,406100880105-1 2/26/1988 1988 337,624 0 337,624


PROPERTY




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IV. GLOSSARY OF TERMS


Glossary of Terms

Accident

Year

Attributing to a given year the total cost of losses which occur in that year.

Bornhuetter-

Ferguson

Approach

(BFA)

Approach which combines reported and paid losses with the expected

unreported and unpaid losses to estimate ultimate losses.

Case

Reserve

Estimate of unpaid loss on reported claims.

Discount

Reserve

The present value, calculated at selected interest rates and payout patterns, of

the payment of outstanding losses.

Expected

Loss

Exposures multiplied by the pure premium.

Exposure

Extent of risk and/or possibility of loss (for general liability the exposure is

expenditure in thousands, and for auto liability it is the number of vehicles).

Incurred

Loss

Paid loss plus the case reserve.

IBNR

Reserve

Reserve for claims incurred but not reported and for future changes to the case

reserves.

Loss

Adjustment

Expenses

(LAE)

Loss adjustment expenses may be broken down into: Allocated and Unallocated

loss adjustment expenses (ALAE and ULAE). ALAE expenses are expenses

(other than in-house administrative) for claims handling which can be identified

as pertaining to a specific claim (such as outside legal expense). ULAE

expenses are general administrative expenses such as salaries of employees.

Loss

Development

Approach

(LDA)

Methods under which historical claim data are recorded and used to estimate

the future development of existing claims. Loss development is the change in

value of a body of claims from one valuation date to another valuation date.


Glossary of Terms (continued)

Paid Loss

Amount paid on open and closed claims.

Pure

Premium

The value of losses per unit of exposure.

Ultimate

Loss

The incurred loss plus the IBNR reserve. The ultimate loss is the estimate of the

total cost to settle all claims in the accident year.

state of alaskadoa.alaska.gov/drm/pdf/actuarialreport.pdf · october 17, 2017 mr. scott jordan...

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