Professionals Group - PICM- Profile

Professionals Group, Inc. (formerly Professionals Insurance Company Management Group) operates principally in the property and casualty insurance industry and has two insurance products. The professional liability segment provides insurance coverage and services to health care providers. The personal lines segment offers private passenger automobile and homeowners coverages to teachers and other educational employees. The company also provides malpractice insurance coverage to lawyers and law firms. Medical professional liability provides insurance against the legal liability of an insured arising out of bodily injury, sickness, disease or death. The company provides medical professional liability insurance for physicians, surgeons, dentists, hospitals and other health care providers. The operations of the company are carried on throughout the United States. The company has seven wholly owned subsidiaries and two majority owned subsidiaries. During 1999 the company acquired 77% of the outstanding common stock of MEEMIC Holdings. Premiums earned accounted for 80% of 1999 revenues; net investment income, 17% and other income, 3%.