Dow Jones U.S. Insurance Index

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

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Old Republic (XL, US) ☀  Property & Casualty Insurance
1. Old Republic (XL, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
2. Reinsurance America (XXL, US)  Reinsurance
2. Reinsurance America (XXL, US)   Reinsurance	n/a		n/a		n/a		n/a
3. Assurant (XL, US)  Multi-line Insurance
3. Assurant (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
4. American National (XL, US)  Multi-line Insurance
4. American National (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
5. MetLife (XXL, US) ☀  Life & Health Insurance
5. MetLife (XXL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
6. Hanover Insurance (XL, US)  Property & Casualty Insurance
6. Hanover Insurance (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
7. Selective Insurance (L, US) ☀  Property & Casualty Insurance
7. Selective Insurance (L, US) ☀   Property & Casualty Insurance	n/a		n/a		n/a		n/a
8. AFG (XL, US)  Multi-line Insurance
8. AFG (XL, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
9. Symetra Financial (L, US)  Life & Health Insurance
9. Symetra Financial (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
10. Lincoln (XXL, US)  Life & Health Insurance
10. Lincoln (XXL, US)   Life & Health Insurance	n/a		n/a		n/a		n/a

January 2, 2015. 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. AmTrust (XL, US)   Property & Casualty Insurance
1. AmTrust (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
2. W. R. Berkley (XL, US)   Property & Casualty Insurance
2. W. R. Berkley (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
3. Lincoln (XXL, US)   Life & Health Insurance
3. Lincoln (XXL, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
4. Arthur J. Gallagher (XL, US)   Insurance Brokers
4. Arthur J. Gallagher (XL, US)   Insurance Brokers	n/a		n/a		n/a		n/a
5. Marsh & McLennan (XXL, US) ☀   Insurance Brokers
5. Marsh & McLennan (XXL, US) ☀   Insurance Brokers	n/a		n/a		n/a		n/a
6. Principal Financial (XXL, US) ☀   Life & Health Insurance
6. Principal Financial (XXL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
7. Mercury General (XL, US)   Property & Casualty Insurance
7. Mercury General (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
8. Reinsurance America (XXL, US)   Reinsurance
8. Reinsurance America (XXL, US)   Reinsurance	n/a		n/a		n/a		n/a
9. HCC Insurance (L, US)   Multi-line Insurance
9. HCC Insurance (L, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
10. MetLife (XXL, US) ☀   Life & Health Insurance
10. MetLife (XXL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a

January 2, 2015. 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. AmTrust (XL, US)   Property & Casualty Insurance
1. AmTrust (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
2. Mercury General (XL, US)   Property & Casualty Insurance
2. Mercury General (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
3. Markel (XL, US)   Property & Casualty Insurance
3. Markel (XL, US)   Property & Casualty Insurance	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. Aflac (XXL, US) ☀   Life & Health Insurance
5. Aflac (XXL, US) ☀   Life & Health 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. Alleghany (XL, US) ☀   Reinsurance
7. Alleghany (XL, US) ☀   Reinsurance	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. Lincoln (XXL, US)   Life & Health Insurance
9. Lincoln (XXL, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
10. Principal Financial (XXL, US) ☀   Life & Health Insurance
10. Principal Financial (XXL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a

January 2, 2015. 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. AmTrust (XL, US)   Property & Casualty Insurance
1. AmTrust (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
2. Lincoln (XXL, US)   Life & Health Insurance
2. Lincoln (XXL, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
3. Mercury General (XL, US)   Property & Casualty Insurance
3. Mercury General (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
4. Reinsurance America (XXL, US)   Reinsurance
4. Reinsurance America (XXL, US)   Reinsurance	n/a		n/a		n/a		n/a
5. Principal Financial (XXL, US) ☀   Life & Health Insurance
5. Principal Financial (XXL, US) ☀   Life & Health Insurance	n/a		n/a		n/a		n/a
6. Hanover Insurance (XL, US)   Property & Casualty Insurance
6. Hanover Insurance (XL, US)   Property & Casualty Insurance	n/a		n/a		n/a		n/a
7. HCC Insurance (L, US)   Multi-line Insurance
7. HCC Insurance (L, US)   Multi-line Insurance	n/a		n/a		n/a		n/a
8. Symetra Financial (L, US)   Life & Health Insurance
8. Symetra Financial (L, US)   Life & Health Insurance	n/a		n/a		n/a		n/a
9. Markel (XL, US)   Property & Casualty Insurance
9. Markel (XL, 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 2, 2015. 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 2, 2015.