Dow Jones U.S. Insurance Index

D.J. US Insurance Top 10: Value Investment Strategy

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. American National (XL, US)  Multi-line Insurance
1. American National (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
2. Symetra Financial (L, US)  Life & Health Insurance
2. Symetra Financial (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
3. Allstate (XXL, US) ☀  Property & Casualty Insurance
3. Allstate (XXL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
4. Stewart Information (L, US)  Property & Casualty Insurance
4. Stewart Information (L, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
5. Genworth Financial (XL, US)  Life & Health Insurance
5. Genworth Financial (XL, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
6. Reinsurance America (XXL, US)  Reinsurance
6. Reinsurance America (XXL, US)   Reinsurance	n/a		n/a		n/a		n/a
7. Unum Group (XL, US) ☀  Life & Health Insurance
7. Unum Group (XL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
8. StanCorp (L, US)  Life & Health Insurance
8. StanCorp (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
9. Assurant (XL, US)  Multi-line Insurance
9. Assurant (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
10. Old Republic (XL, US) ☀  Property & Casualty Insurance
10. Old Republic (XL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a

January 1, 2014. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

D.J. US Insurance Top 10: Growth Investment Strategy

TOP 10 Growth	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. American Equity (L, US)   Life & Health Insurance
1. American Equity (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
2. CNO Financial (XL, US) ☀   Life & Health Insurance
2. CNO Financial (XL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
3. AIG (XXL, US)   Multi-line Insurance
3. AIG (XXL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
4. Unum Group (XL, US) ☀   Life & Health Insurance
4. Unum Group (XL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
5. Selective Insurance (L, US) ☀   Property & Casualty Insurance
5. Selective Insurance (L, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
6. Fidelity (XL, US) ☀   Property & Casualty Insurance
6. Fidelity (XL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
7. Lincoln (XXL, US)   Life & Health Insurance
7. Lincoln (XXL, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
8. American National (XL, US)   Multi-line Insurance
8. American National (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
9. Erie Indemnity (L, US)   Property & Casualty Insurance
9. Erie Indemnity (L, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
10. Old Republic (XL, US) ☀   Property & Casualty Insurance
10. Old Republic (XL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a

January 1, 2014. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

D.J. US Insurance Top 10: Safety Investment Strategy

TOP 10 Safety	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Symetra Financial (L, US)   Life & Health Insurance
1. Symetra Financial (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
2. StanCorp (L, US)   Life & Health Insurance
2. StanCorp (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
3. Marsh & McLennan (XXL, US) ☀   Insurance Brokers
3. Marsh & McLennan (XXL, US) ☀   Insurance Brokers	n/a		n/a		n/a		n/a
4. Cincinnati Financial (XL, US)   Property & Casualty Insurance
4. Cincinnati Financial (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
5. Progressive (XXL, US) ☀   Property & Casualty Insurance
5. Progressive (XXL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
6. HCC Insurance (L, US)   Multi-line Insurance
6. HCC Insurance (L, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
7. AmTrust (XL, US)   Property & Casualty Insurance
7. AmTrust (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
8. Aflac (XXL, US) ☀   Life & Health Insurance
8. Aflac (XXL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
9. Assurant (XL, US)   Multi-line Insurance
9. Assurant (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
10. Markel (XL, US)   Property & Casualty Insurance
10. Markel (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a

January 1, 2014. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

D.J. US Insurance Top 10: Combined Investment Strategy

TOP 10 Combined	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Symetra Financial (L, US)   Life & Health Insurance
1. Symetra Financial (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
2. Stewart Information (L, US)   Property & Casualty Insurance
2. Stewart Information (L, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
3. Old Republic (XL, US) ☀   Property & Casualty Insurance
3. Old Republic (XL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
4. Assurant (XL, US)   Multi-line Insurance
4. Assurant (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
5. Reinsurance America (XXL, US)   Reinsurance
5. Reinsurance America (XXL, US)   Reinsurance	n/a		n/a		n/a		n/a
6. Lincoln (XXL, US)   Life & Health Insurance
6. Lincoln (XXL, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
7. Allstate (XXL, US) ☀   Property & Casualty Insurance
7. Allstate (XXL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
8. Unum Group (XL, US) ☀   Life & Health Insurance
8. Unum Group (XL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
9. American National (XL, US)   Multi-line Insurance
9. American National (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
10. First American Financial (XL, US) ☀   Property & Casualty Insurance
10. First American Financial (XL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a

January 1, 2014. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

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Top 10 lists may contain fewer than 10 stocks due to Obermatt’s top 10 quality standards.

Top 10 Stocks from the purely finance fact-based Obermatt Method for the investment strategies Value, Growth and Safety in the stock index Dow Jones U.S. Insurance Index from January 1, 2014.