In a letter written by OHIC President and CEO Raymond Mazzotta and released this week, the financial results of the first quarter of 2005 indicate continued positive growth for the insurance company. OHIC produced a net profit of $592,000, has standing assets at $312 million, and its surplus or net worth increased to $63.1 million. Their direct premiums written in the first quarter were $14.1 million compared to $46.1 million in 2004. Mazzotta cites two non-reoccuring events as foundations for the recent trends; one-the company's decision to exit states other than Ohio and two-the decision to move their insureds from occurrence coverage to claims-made coverage which together translated in $18 million in savings differentials. To review the statutory financial statement for the quarter ending March 31, 2005, visit www.ohic.com/AboutOhic/Financials/OHICFinancials2005_03.pdf