On a SAP statutory accounting principle and GAAP generally accepted accounting principle basis, the Company's combined ratios for the year ended December 31, were The Company's combined ratios increased in primarily due to higher expense ratios due to lower premium volume. The Company's earned premiums declined in all lines of business during as a result of actions announced during late and the first quarter of Duringthe Group which includes the Company and its parent, Empire Insurance Company explored its options for developing a new business model and strategy.

After evaluating these options, the Group announced in December that it had determined that it was in the best interest of its shareholders and policyholders to commence an orderly liquidation of all of its operations. The Group only accepts business that it is obligated to accept by contract or New York insurance law; it does not engage in any other business activities except for its claims runoff operations.

By the end ofthe Company expects that its voluntary liquidation will be substantially complete, premium revenue will be immaterial, infrastructure and overhead costs will be substantially reduced, and all that it expects to remain will be the administration and settlement of claims with long tail settlement characteristics, principally workers' compensation and certain liability claims.

Given the Group's and the Company's current financial condition, the expected costs to be incurred during the claims runoff period, and the inherent uncertainty over ultimate claim settlement values, no assurance can be given that the Company's shareholders will be able to receive any value Allcity Insurance Company the conclusion of the voluntary liquidation of its operations.

This news release contains forward-looking statements such as predictions or forecasts. Those factors include the taking of adverse regulatory action against the Company and Empire Insurance Company, developments in claims handling, including adverse litigation developments, that could adversely affect the liquidation plan of the Group, the Group's ability to manage the claims runoff, increased loss adjustment expenses resulting from an extended claims run-off and Allcity Insurance Company other risks detailed in the Company's SEC reports, including the The Soap Company Keswick K for the year ended December 31, Log In Sign Up.

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Being an insurance broker, we have access to the largest insurance companies in Canada, allowing us to find the best price and coverage for all your insurance needs. Loyalty to our customers and our community is of utmost importance to us. All City Insurance loves to give back to the community.…