Often businesses confuse their "Objectives" with their "Purpose".

ICAT's Business Objectives are clear: We are committed to conservatively managing the risks we assume as catastrophe insurance underwriters; to being a business of significance and importance to the insurance industry; to growing the value of our business; and to delivering a superlative return to our shareholders.

Our Purpose is equally clear. We are committed to assisting our policyholders to recover from disasters—we view our role in America's economy as critical. The financial stress and economic disruption that was delivered by the 2004 and 2005 Storm Seasons was quickly balanced by the pride and fulfillment we experienced in helping thousands of businesses to rebuild and reopen their doors. This is why we are in business.

Equally important, we are committed to delivering quality, stable and competitive products, with exceptional service, to our agent and broker partners.

Our ability to fulfill our Purpose is predicated upon constantly meeting our Business Objectives—we have to be a successful business to have the privilege to serve our customers. Similarly, meeting our Business Objectives is fully dependent upon delivering our Purpose to our customers—the market demands this of us. At ICAT, we are committed to doing both.

• John C. Graham
• Chairman and CEO