Based on your continued support of the AEGIS domestic property program, the property underwriting results for the most recent three-year period (ending December 31, 2008) were positive. As a result, we are able to declare an overall property credit of $3.5 million. Although this is lower than it has been in recent years, we are pleased we are able to issue a credit during this period when we are working together to rebuild the Company's surplus. Since the beginning of the program, we have declared more than $41.2 million in credits for eligible property policyholders.
Qualifying policyholders recently received details in the mail regarding their share of this credit and how it can be applied to their property premium upon renewal. To qualify for the property credit, a policyholder must have AEGIS participation of at least 20% of a quoted layer or a minimum $150 million of AEGIS capacity on risk. For more information about the AEGIS property program, please contact Gary Ladman by e-mail or by phone at 201.508.2802.