By all measures, 2006 was another successful year for Temporary Services Insurance Limited (TSIL). Your company continued its growth trends building on its strong reputation in the marketplace.

Annual business highlights include:

• Over 66 Million Dollars in annual premium
• 113 member/owners
• 2.1 Billion Dollars in covered temporary payroll
• Member/owner retention rate of 98%
• Exemplary above-market returns on our Captive Investors Fund investments
• Recognition as one of the largest owner-operated captive insurance programs in the United States

We have established a superior product in this unique field by attracting and maintaining superior owners committed to the Mission and Vision of our company. Well supported by the finest professional service providers, TSIL offers stability and consistency in the volatile business world of insurance and temporary staffing.

Looking forward, our future is bright and promising as involved member/owners endeavor to meet TSIL’s strategic goals:

• To lead the alternative insurance market through continuous innovation
• To achieve world class risk control for its member/owners
• To offer the highest value in workers compensation insurance

Please share the pride of the Executive Committee and all the other committee members have in the achievements of this last year. It has been our privilege to lead this dynamic organization.

Sincerely,
Gordon Friedrich
TSIL President