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NEWS
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Rock Hill, NY 12775-8000 (845) 796-2100
INSURANCE GROUP, INC. www.ftr.com
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FOR IMMEDIATE RELEASE
CONTACT: RICHARD F. SEYFFARTH, EXECUTIVE VICE PRESIDENT, 800-836-2100, EXT. 5197
FRONTIER INSURANCE GROUP, INC. ANNOUNCES APPOINTMENT OF NEW AUDITING FIRM,
JOHNSON LAMBERT & CO.
Rock Hill, New York, September 26, 2000 ......Frontier Insurance Group, Inc.
(Frontier) (NYSE-FTR) announced today that it has retained the firm of Johnson
Lambert & Co. to provide audit services for Frontier and its insurance
subsidiaries, Frontier Insurance Company, Frontier Pacific Insurance Company,
United Capitol Insurance Company and Western Indemnity Insurance Company, for
the year ending December 31, 2000.
Headquartered in Bethesda, Maryland, Johnson Lambert & Co. has developed a
market niche within the insurance industry, specializing in providing customized
services to meet the needs of medium sized insurers. Many of the partners of
Johnson Lambert & Co. formerly held executive responsibilities with "Big Five"
accounting firms or with insurance organizations. They currently are, or
previously have been, represented on the following AICPA committees and task
forces: Chair of the Auditing Standards Board; Accounting Standards Executive
Committee; Insurance Companies Committee; Relations with Actuaries Committee;
Chair of the Deposit Accounting Task Force; AICPA/NAIC Joint Working Group;
Auditing Insurance Entities Loss Reserves Task Force; and Mass Torts Task Force.
Frontier is an insurance holding company which, through its subsidiaries, is a
national underwriter and creator of specialty insurance products serving the
needs of insureds in niche markets.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the
Securities Exchange Act of 1934 (the "Exchange Act") which are not historical
facts and involve risks and uncertainties that could cause actual results to
differ materially from those expected and projected. Such risks and
uncertainties include, but are not limited to, the following: (i) general
economic conditions; (ii) conditions specific to the property and casualty
insurance industry, including its cyclical nature, regulatory changes, rating
agency policies and practices, competitive factors and claims development and
the impact thereof on loss reserves, the Company's reserving policies and the
adequacy of the Company's reinsurance programs; (iii) developments in the
securities markets and the impact thereof on the Company's investment portfolio;
and (iv) changes in generally accepted accounting principles. Accordingly, there
can be no assurance that the actual results will conform to the forward-looking
statements in this release. The words "believes," "anticipates," "expects" and
similar expressions are intended to identify forward-looking statements.
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