UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 3)
Under the Securities Exchange Act of 1934*
Capital Trust, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock, Par Value $0.01 Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
14052H100
--------------------------------------------------------------------------------
(CUSIP Number)
Ira S. Lederman
Senior Vice President - General Counsel and Corporate Secretary
W. R. Berkley Corporation
475 Steamboat Road
Greenwich, Connecticut 06830
(203) 629-3000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Jeffrey S. Hochman, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, New York 10019-6099
(212) 728-8000
July 10, 2007
--------------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box: [ ]
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 240.13d-7
for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
SCHEDULE 13D
-----------------------------------
CUSIP No. 14052H100
-----------------------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION
W. R. Berkley Corporation
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ ]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
2,472,100*
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 0
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
2,472,100*
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,472,100*
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.2%*
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
----------- --------------------------------------------------------------------
* See Items 4 through 6.
SCHEDULE 13D
-----------------------------------
CUSIP No. 14052H100
-----------------------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION
Admiral Insurance Company
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ ]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
500,000*
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 0
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
500,000*
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
500,000*
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.9%*
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IC, CO
----------- --------------------------------------------------------------------
* See Items 4 through 6.
SCHEDULE 13D
-----------------------------------
CUSIP No. 14052H100
-----------------------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION
Berkley Insurance Company
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ ]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
793,400*
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 0
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
793,400*
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
793,400*
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%*
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IC, CO
----------- --------------------------------------------------------------------
* See Items 4 through 6.
SCHEDULE 13D
-----------------------------------
CUSIP No. 14052H100
-----------------------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION
Berkley Regional Insurance Company
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ ]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
678,700*
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 0
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
678,700*
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
678,700*
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.9%*
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IC, CO
----------- --------------------------------------------------------------------
* See Items 4 through 6.
SCHEDULE 13D
-----------------------------------
CUSIP No. 14052H100
-----------------------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION
Nautilus Insurance Company
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ ]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Arizona
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
500,000*
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED 0
BY EACH REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
500,000 *
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
500,000*
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.9%*
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IC, CO
----------- --------------------------------------------------------------------
* See Items 4 through 6.
This Amendment No. 3 to Schedule 13D ("Amendment No. 3") is being filed on
behalf of W. R. Berkley Corporation, a Delaware corporation ("Berkley"), Admiral
Insurance Company, a Delaware corporation ("Admiral"), Berkley Insurance
Company, a Delaware corporation ("BIC"), Berkley Regional Insurance Company, a
Delaware corporation ("BRIC"), and Nautilus Insurance Company, an Arizona
corporation ("Nautilus" and, together with Berkley, Admiral, BIC and BRIC, the
"Reporting Persons"). Amendment No. 3 relates to shares of Class A Common Stock,
par value $0.01 per share (the "Common Stock"), of Capital Trust, Inc., a
Maryland corporation (the "Issuer"). Amendment No. 3 amends and supplements the
Schedule 13D, dated May 11, 2004 ("Original Schedule 13D"), as filed with the
Securities and Exchange Commission (the "Commission") on May 21, 2004, as
amended by Amendment No. 1 to Schedule 13D, dated June 17, 2004, as filed with
the Commission on June 21, 2004, and Amendment No. 2 to the Schedule 13D, dated
September 13, 2004, as filed with the Commission on September 13, 2004 (together
with the Original Schedule 13D, the "Schedule 13D"), in connection with the
purchase of an additional 472,100 shares of Common Stock of the Issuer.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of Schedule 13D is hereby amended by the addition of the following
information:
The total amount of funds used by the Reporting Persons to purchase the
additional 472,100 securities of the Issuer as described herein was furnished
from the working capital of BRIC and BIC. The total amount of funds used by the
Reporting Persons to purchase the securities of the Issuer as described herein
was $16,375,031.41. BIC contributed $10,166,093.19, or 62.1%, of the total
amount funds. BRIC contributed $6,208,938.22, or 37.9%, of the total amount of
funds.
Item 5. Interest in Securities of the Issuer.
Item 5 of Schedule 13D is hereby amended and restated in its entirety as
follows:
(a) Berkley may be deemed to beneficially own, in the aggregate, 2,472,100
shares of Common Stock, which represents 14.2% of the outstanding Common Stock
of the Issuer.
(b) Since each of the Subsidiaries is either directly or indirectly owned
by Berkley, Berkley has the sole power to vote or to direct the vote and the
sole power to dispose or to direct the disposition of the 2,472,100 shares of
Common Stock it may be deemed to beneficially own.
(c) Information concerning transactions in the securities of the Issuer
effected by the Reporting Persons in the last sixty days is set forth on
Schedule I to this Schedule 13D and is incorporated by reference. The
transactions were effected in open market transactions on the New York Stock
Exchange. Except as set forth on Schedule I, during the last sixty days there
have been no other transactions in the Common Stock effected by
7
the Reporting Persons, nor, to the best of their knowledge, any of the persons
set forth on Schedule II to this Schedule 13D.
(d) Except as set forth in this Item 5, no person other than each
respective record owner of securities referred to herein is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the securities discussed herein.
(e) Not applicable.
8
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: July 13, 2007 W.R. BERKLEY CORPORATION
By: /s/ William R. Berkley
--------------------------------
Name: William R. Berkley
Title: Chairman of the Board and
Chief Executive Officer
Dated: July 13, 2007 ADMIRAL INSURANCE COMPANY
By: /s/ Scott R. Barraclough
--------------------------------
Name: Scott R. Barraclough
Title: Senior Vice President
Dated: July 13, 2007 BERKLEY INSURANCE COMPANY
By: /s/ Eugene G. Ballard
--------------------------------
Name: Eugene G. Ballard
Title: Senior Vice President
Dated: July 13, 2007 BERKLEY REGIONAL INSURANCE
COMPANY
By: /s/ Eugene G. Ballard
--------------------------------
Name: Eugene G. Ballard
Title: Senior Vice President
Dated: July 13, 2007 NAUTILUS INSURANCE COMPANY
By: /s/ John M. Runberg
--------------------------------
Name: John M. Runberg
Title: Senior Vice President
SCHEDULE I
-----------------------------------------------------------------------------------------------------
Sixty Day Trading History
-----------------------------------------------------------------------------------------------------
--------------------------------- ------------------------------- -----------------------------------
Trade Date Quantity Purchased Price Per Share ($)
--------------------------------- ------------------------------- -----------------------------------
7/6/2007 1,000 34.28
--------------------------------- ------------------------------- -----------------------------------
7/6/2007 5,800 34.30
--------------------------------- ------------------------------- -----------------------------------
7/6/2007 100 34.34
--------------------------------- ------------------------------- -----------------------------------
7/6/2007 400 34.39
--------------------------------- ------------------------------- -----------------------------------
7/6/2007 68,620 34.40
--------------------------------- ------------------------------- -----------------------------------
7/6/2007 680 34.44
--------------------------------- ------------------------------- -----------------------------------
7/6/2007 3,400 34.45
--------------------------------- ------------------------------- -----------------------------------
7/9/2007 9,600 34.80
--------------------------------- ------------------------------- -----------------------------------
7/9/2007 2,500 34.90
---------------------------------- ------------------------------- ----------------------------------
7/10/2007 300 34.55
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 1,100 34.57
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 600 34.58
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 700 34.59
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 6,100 34.60
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 1,900 34.70
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 4,800 34.72
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 1,900 34.73
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 2,100 34.74
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 76,800 34.75
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 4,800 34.76
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 15,600 34.77
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 4,900 34.78
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 9,800 34.79
--------------------------------- ------------------------------- -----------------------------------
7/10/2007 37,500 34.80
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 300 34.65
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 3,400 34.66
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 300 34.67
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 2,700 34.68
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 2,200 34.69
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 31,800 34.70
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 2,500 34.71
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 1,300 34.72
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 100,000 34.73
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 600 34.74
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 17,700 34.75
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 1,100 34.76
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 100 34.77
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 1,400 34.78
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 1,200 34.79
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 2,100 34.80
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 6,800 34.82
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 2,400 34.83
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 400 34.84
--------------------------------- ------------------------------- -----------------------------------
7/11/2007 400 34.85
--------------------------------- ------------------------------- -----------------------------------
7/12/2007 1,700 34.72
--------------------------------- ------------------------------- -----------------------------------
7/12/2007 8,100 34.73
--------------------------------- ------------------------------- -----------------------------------
7/12/2007 11,200 34.74
--------------------------------- ------------------------------- -----------------------------------
7/12/2007 11,200 34.75
--------------------------------- ------------------------------- -----------------------------------
7/12/2007 200 35.00
--------------------------------- ------------------------------- -----------------------------------
SCHEDULE II
Set forth below is the name, business address, and present principal
occupation of each of the executive officers and directors of the Reporting
Persons. Except as otherwise indicated, each person is a citizen of the United
States.
W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Name Present Business Address Present Principal Occupation
------------------------------------- ----------------------------------- --------------------------------------
Directors:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
William R. Berkley 475 Steamboat Road Chairman of the Board and Chief
Greenwich, Connecticut 06830 Executive Officer
------------------------------------- ----------------------------------- --------------------------------------
Phillip J. Ablove 475 Steamboat Road Retired Executive Vice President and
Greenwich, Connecticut 06830 Chief Financial Officer, Pioneer
Companies, Inc.
------------------------------------- ----------------------------------- --------------------------------------
W. Robert Berkley, Jr. 475 Steamboat Road Executive Vice President
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
Ronald E. Blaylock 475 Steamboat Road Founder, Chairman and Chief
Greenwich, Connecticut 06830 Executive Officer, Blaylock &
Company, Inc. (investment banking
firm)
------------------------------------- ----------------------------------- --------------------------------------
Mark E. Brockbank 475 Steamboat Road Retired Chief Executive of XL
Greenwich, Connecticut 06830 Brockbank LTD
------------------------------------- ----------------------------------- --------------------------------------
George G. Daly 475 Steamboat Road Dean, McDonough School of Business,
Greenwich, Connecticut 06830 Georgetown University
------------------------------------- ----------------------------------- --------------------------------------
Mary C. Farrell 475 Steamboat Road Consultant to the financial services
Greenwich, Connecticut 06830 industry
------------------------------------- ----------------------------------- --------------------------------------
Rodney A. Hawes, Jr. 475 Steamboat Road Founder Insurance Investment
Greenwich, Connecticut 06830 Associates (investment banking firm)
------------------------------------- ----------------------------------- --------------------------------------
Jack H. Nusbaum 787 Seventh Avenue Chairman, Willkie Farr & Gallagher
New York, New York 10019 LLP (attorneys at law)
------------------------------------- ----------------------------------- --------------------------------------
Mark L. Shapiro 475 Steamboat Road Private Investor
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Executive Officers Not Otherwise Listed Above:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
Eugene G. Ballard 475 Steamboat Road Senior Vice President - Chief
Greenwich, Connecticut 06830 Financial Officer and Treasurer
------------------------------------- ----------------------------------- --------------------------------------
Robert P. Cole 475 Steamboat Road Senior Vice President - Regional
Greenwich, Connecticut 06830 Operations
------------------------------------- ----------------------------------- --------------------------------------
Paul J. Hancock 475 Steamboat Road Senior Vice President - Chief
Greenwich, Connecticut 06830 Corporate Actuary
------------------------------------- ----------------------------------- --------------------------------------
Robert W. Gosselink 475 Steamboat Road Senior Vice President - Insurance
Greenwich, Connecticut 06830 Risk Management
------------------------------------- ----------------------------------- --------------------------------------
Robert C. Hewitt 475 Steamboat Road Senior Vice President - Excess and
Greenwich, Connecticut 06830 Surplus Lines
------------------------------------- ----------------------------------- --------------------------------------
P Peter L. Kamford 475 Steamboat Road Senior Vice President -- Admitted
Greenwich, Connecticut 06830 Specialty Lines
------------------------------------- ----------------------------------- --------------------------------------
Ira S. Lederman 475 Steamboat Road Senior Vice President - General
Greenwich, Connecticut 06830 Counsel and Corporate Secretary
------------------------------------- ----------------------------------- --------------------------------------
C. Fred Madsen 475 Steamboat Road Senior Vice President -- Reinsurance
Greenwich, Connecticut 06830 Operations
------------------------------------- ----------------------------------- --------------------------------------
James W. McCleary 475 Steamboat Road Senior Vice President -- Underwriting
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
James G. Shiel 475 Steamboat Road Senior Vice President - Investments
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
Robert D. Stone 475 Steamboat Road Senior Vice President -- Alternative
Greenwich, Connecticut 06830 Markets Operations
------------------------------------- ----------------------------------- --------------------------------------
Clement P. Patafio 475 Steamboat Road Vice President - Corporate Controller
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
Admiral Insurance Company
------------------------------------- ----------------------------------- --------------------------------------
Name Present Business Address Present Principal Occupation
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Directors:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
W. Robert Berkley, Jr. 475 Steamboat Road Executive Vice President, W. R.
Greenwich, Connecticut 06830 Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Eugene G. Ballard 475 Steamboat Road Senior Vice President - Chief
Greenwich, Connecticut 06830 Financial Officer and Treasurer,
W. R.
Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Scott R. Barraclough 1255 Caldwell Road Senior Vice President and Treasurer
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
James S. Carey 1255 Caldwell Road President and Chief Executive Officer
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
Robert C. Hewitt 475 Steamboat Road Senior Vice President - Excess and
Greenwich, Connecticut 06830 Surplus Lines, W. R. Berkley
Corporation
------------------------------------- ----------------------------------- --------------------------------------
Ira S. Lederman 475 Steamboat Road Senior Vice President - General
Greenwich, Connecticut 06830 Counsel and Secretary, W. R. Berkley
Corporation
------------------------------------- ----------------------------------- --------------------------------------
Martin M. Michell 1255 Caldwell Road Regional Vice President
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Executive Officers Not Otherwise Listed Above:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
Daniel A. MacDonald 1255 Caldwell Road Senior Vice President and Secretary
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
Curtis E. Fletcher 1255 Caldwell Road Regional Vice President
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
John E. Goodloe 1255 Caldwell Road President, Excess Division
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
William E. Haines 1255 Caldwell Road Regional Vice President
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
Raymond H. McDowell 1255 Caldwell Road Regional Vice President
Cherry Hill, New Jersey 08034
------------------------------------- ----------------------------------- --------------------------------------
Berkley Insurance Company
------------------------------------- ----------------------------------- --------------------------------------
Name Present Business Address Present Principal Occupation
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Directors:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
William R. Berkley 475 Steamboat Road Chairman of the Board and Chief
Greenwich, Connecticut 06830 Executive Officer, W. R. Berkley
Corporation
------------------------------------- ----------------------------------- --------------------------------------
W. Robert Berkley, Jr. 475 Steamboat Road Executive Vice President, W. R.
Greenwich, Connecticut 06830 Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Eugene G. Ballard 475 Steamboat Road Senior Vice President - Chief
Greenwich, Connecticut 06830 Financial Officer and Treasurer,
W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Craig N. Johnson 475 Steamboat Road President and Chief Executive
Greenwich, Connecticut 06830 Officer, Signet Star Re,
LLC
------------------------------------- ----------------------------------- --------------------------------------
Carol J. LaPunzina 475 Steamboat Road Senior Vice President, General
Greenwich, Connecticut 06830 Counsel and Secretary
------------------------------------- ----------------------------------- --------------------------------------
Ira S. Lederman 475 Steamboat Road Senior Vice President - General
Greenwich, Connecticut 06830 Counsel and Corporate Secretary,
W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
C. Fred Madsen 475 Steamboat Road Senior Vice President - Reinsurance
Greenwich, Connecticut 06830 Operations, W. R. Berkley
Corporation.
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Executive Officers Not Otherwise Listed Above:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
Roger J. Bassi 475 Steamboat Road Executive Vice President
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
Mark G. Davidowitz 475 Steamboat Road Treasurer
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
Kevin J. Shea 475 Steamboat Road Senior Vice President
Greenwich, Connecticut 06830
------------------------------------- ----------------------------------- --------------------------------------
Berkley Regional Insurance Company
------------------------------------- ----------------------------------- --------------------------------------
Name Present Business Address Present Principal Occupation
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Directors:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
William R. Berkley 475 Steamboat Road Chairman of the Board and Chief
Greenwich, Connecticut 06830 Executive Officer, W. R. Berkley
Corporation
------------------------------------- ----------------------------------- --------------------------------------
W. Robert Berkley, Jr. 475 Steamboat Road Executive Vice President, W. R.
Greenwich, Connecticut 06830 Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
James G. Shiel 475 Steamboat Road Senior Vice President - Investments,
Greenwich, Connecticut 06830 W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Eugene G. Ballard 475 Steamboat Road Senior Vice President - Chief
Greenwich, Connecticut 06830 Financial Officer and Treasurer,
W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Ira S. Lederman 475 Steamboat Road Senior Vice President - General
Greenwich, Connecticut 06830 Counsel and Corporate Secretary
W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Robert P. Cole 475 Steamboat Road Senior Vice President - Regional
Greenwich, Connecticut 06830 Operations, W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Robert C. Hewitt 475 Steamboat Road Senior Vice President - Excess and
Greenwich, Connecticut 06830 Surplus Lines, W. R. Berkley
Corporation
------------------------------------- ----------------------------------- --------------------------------------
Paul J. Hancock 475 Steamboat Road Senior Vice President and Chief
Greenwich, Connecticut 06830 Corporate Actuary, W. R. Berkley
Corporation
------------------------------------- ----------------------------------- --------------------------------------
Clement P. Patafio 475 Steamboat Road Vice President - Corporate
Greenwich, Connecticut 06830 Controller, W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Executive Officers Not Otherwise Listed Above:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
None
------------------------------------- ----------------------------------- --------------------------------------
Nautilus Insurance Company
------------------------------------- ----------------------------------- --------------------------------------
Name Present Business Address Present Principal Occupation
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Directors:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
W. Robert Berkley, Jr. 475 Steamboat Road Executive Vice President, W. R.
Greenwich, Connecticut 06830 Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Eugene G. Ballard 475 Steamboat Road Senior Vice President - Chief
Greenwich, Connecticut 06830 Financial Officer and Treasurer,
W. R. Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
Robert C. Hewitt 475 Steamboat Road Senior Vice President - Excess and
Greenwich, Connecticut 06830 Surplus Lines, W. R. Berkley
Corporation
------------------------------------- ----------------------------------- --------------------------------------
Thomas M. Kuzma 7273 East Butherus Drive, President and Chief Executive Officer
Scottsdale, Arizona 85260
------------------------------------- ----------------------------------- --------------------------------------
Ira S. Lederman 475 Steamboat Road Senior Vice President - General
Greenwich, Connecticut 06830 Counsel and Corporate Secretary, W.
R.
Berkley Corporation
------------------------------------- ----------------------------------- --------------------------------------
----------------------------------------------------------------------------------------------------------------
Executive Officers Not Otherwise Listed Above:
----------------------------------------------------------------------------------------------------------------
------------------------------------- ----------------------------------- --------------------------------------
John M. Runberg 7273 East Butherus Drive, Senior Vice President, Chief
Scottsdale, Arizona 85260 Financial Officer and Treasurer
------------------------------------- ----------------------------------- --------------------------------------