| Balance Sheet for RAM Holdings Ltd. (RAMR) | | | | | | | Assets | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | | | Cash and Due from Banks | 12,326 | 51,948 | 6,070 | | Fed. Funds Sold/Securities Purchased | - | - | - | | Interest-Bearing Dep at Other Banks | - | - | - | | Investment Securities, Net | 696,533 | 568,630 | 469,908 | | Net Loans | - | - | - | | Premise and Equipment | 51 | 73 | 124 | | Due from Customers Acceptance | 3,645 | - | 1,988 | | Trading Account Securities | - | - | - | | Other Receivables | 1,808 | 4,380 | - | | Accrued Interest | - | - | - | | Deferred Acquisition Cost | 87,304 | 73,838 | 66,220 | | Accrued Investment Income | 6,465 | 5,227 | 4,692 | | Separate Account Business | - | - | - | | Time Deposit Placed | - | - | - | | Intangible Assets | - | - | - | | Other Assets | 43,956 | 7,808 | 4,570 | | Total Assets | 860,266 | 711,903 | 553,572 | | | Liabilities | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | | | Non-Interest Bearing Deposits | - | - | - | | Interesting Bearing Deposits | - | - | - | | Short Term Debt | - | - | - | | Other Liabilities | 256,630 | 78,446 | 4,940 | | Bankers Acceptance Outstanding | - | - | - | | Fed. Funds Purchased/Securities Sold | - | - | - | | Accrued Taxes | - | - | - | | Accrued Interest Payables | 693 | 693 | 693 | | Other Payables | 4,003 | 4,669 | 3,108 | | Capital Lease Obligations | - | - | - | | Claims and Claim Expense | 63,798 | 14,506 | 16,595 | | Future Policy Benefits | - | - | - | | Unearned Premiums | 242,829 | 194,322 | 165,580 | | Policy Holder Funds | - | - | - | | Participating Policyholder Equity | - | - | - | | Separate Accounts Business | - | - | - | | Minority Interest | - | - | - | | Long Term Debt | 40,000 | 40,000 | 40,000 | | Total Liabilities | 607,953 | 332,636 | 230,916 | | | Preferred Stock Equity | - | - | - | | Common Stock Equity | 252,312 | 379,267 | 322,656 | | Total Equities | 252,312 | 379,267 | 322,656 | | | Total Common Shares Outstanding | 27,239 | 27,235 | 1,991 | | Total Preferred shares Outstanding | - | - | - | | | |
