Trident, Millennium Form Partnership to Insure Utilities

April 28, 2004

Trident Insurance Services LLC, a wholly owned subsidiary of San Antonio-based Argonaut Group Inc., announced the creation of a property and casualty insurance program designed specifically for public water and sewer utilities. Trident will partner with Millennium Insurance Group, a North Carolina-based company to provide program management services.

The program, effective as of March 6, 2004, is customized to offer, on a portfolio basis, general liability, public officials liability, employment practices liability, property, equipment breakdown, inland marine, crime and automobile coverages.

Millennium is also offering workers’ compensation coverage in companionship with the Argonaut property and casualty program. Initially this program will be offered in North Carolina, South Carolina and Georgia. However, it is expected that this program will soon be extended to other states.

The Millennium Water and Sewer program offers a comprehensive insurance package to public entities involved in water treatment and distribution.

Mike Arledge, president of Trident Insurance Services, stated: “Millennium’s knowledge of the marketplace, when coupled with a customized Trident product approach, is an exciting new alternative to what we believe is an underserved industry.”

Trident Insurance Services LLC, the public entity specific subsidiary of Argonaut Group, offers through a network of independent agents and selected program managers, a diverse portfolio of customized specialty insurance products for public entities.

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