Utah Medical Insurance Association - Page 35

                                         -35-                                          
          Hanover Ins. Co. v. Commissioner, 69 T.C. at 270.                            
          E.   Conclusion                                                              
               We conclude that petitioner's reserves for unpaid losses and            
          loss adjustment expenses for 1991 and 1992 were fair and                     
          reasonable estimates of petitioner’s actual unpaid losses.                   
               To reflect the foregoing,                                               

                                                   Decision will be entered            
                                              under Rule 155.                          

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