Results for the first three months of the year compared to the same period a year ago

Net income: $1.4 million compared to a net loss of $4.5 million during the first quarter of 2004

Net income broken down per share*: two cents per share compared to eight cents per share a year ago

Operating income**: $1.9 million compared to a net loss of $5.7 million in the same quarter a year ago

Gross premiums written: $172.72 million, 45 percent growth when compared to the $118.7 million written during the same period a year prior

Net premiums written: $142.87 million compared to $112.45 million in net written premiums during the same period a year ago

Net investment income: $5.22 million compared to $3.23 million a year ago

Combined ratio***:95.8 percent compared to 94.5 percent during the same period a year ago

Shareholders' equity at the end of the period stood at $1.13 billion compared to $ 980 million at the end of 2004

* diluted earnings per share

**income that excludes net realised gains or losses

*** a measure of underwriting profitability with percentages under 100 indicating money was made on core business. For example, a combined ratio of 80 percent indicates a profit of about 20 cents for every dollar of business underwritten.