X0202 4 2005-11-21 0 0001263813 UNITED AMERICA INDEMNITY, LTD INDM 0001272070 FREUDBERG SETH DANIEL C/O UNITED NATIONAL INSURANCE COMPANY THREE BALA PLAZA EAST, SUITE 300 BALA CYNWYD PA 19004 0 1 0 0 President CEO of Non-US Ops Class A Common Shares 2005-11-21 4 S 0 61 19.00 D 19939 D Class A Common Shares 2005-11-21 4 S 0 200 19.00 D 19739 D Class A Common Shares 2005-11-21 4 S 0 200 19.00 D 19539 D Class A Common Shares 2005-11-21 4 S 0 14 19.00 D 19525 D Class A Common Shares 2005-11-21 4 S 0 100 19.00 D 19425 D Class A Common Shares 2005-11-21 4 S 0 100 19.00 D 19325 D Class A Common Shares 2005-11-21 4 S 0 3 19.00 D 19322 D Class A Common Shares 2005-11-21 4 S 0 39 19.00 D 19283 D Class A Common Shares 2005-11-22 4 S 0 102 18.98 D 19181 D Class A Common Shares 2005-11-22 4 S 0 500 18.98 D 18681 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 18581 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 18481 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 18381 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 18281 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 18181 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 18081 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 17981 D Class A Common Shares 2005-11-22 4 S 0 100 18.98 D 17881 D Class A Common Shares 2005-11-22 4 S 0 91 18.96 D 17790 D Class A Common Shares 2005-11-22 4 S 0 100 18.75 D 17690 D Class A Common Shares 2005-11-22 4 S 0 518 18.75 D 17172 D Class A Common Shares 2005-11-22 4 S 0 200 18.75 D 16972 D Class A Common Shares 2005-11-22 4 S 0 200 18.80 D 16772 D Class A Common Shares 2005-11-22 4 S 0 800 18.80 D 15972 D Class A Common Shares 2005-11-22 4 S 0 172 18.80 D 15800 D Class A Common Shares 2005-11-22 4 S 0 800 18.84 D 15000 D Class A Common Shares 2005-11-22 4 M 0 1600 6.50 D 16600 D Class A Common Shares 2005-11-22 4 S 0 900 18.84 D 15700 D Class A Common Shares 2005-11-22 4 S 0 300 18.84 D 15400 D Class A Common Shares 2005-11-22 4 S 0 400 18.78 D 15000 D Employee Stock Options 6.50 2005-11-22 4 M 0 1600 0.00 D 2003-09-05 2006-04-01 Class A Common Shares 106175 53775 D Certain restrictions relating to the Class A Common Shares held by Mr. Freudberg were removed pursuant to a Separation Agreement entered into by and between Mr. Freudberg and an indirect wholly owned subsidiary of the Registrant. Certain restrictions relating to the exercise and sale of the options by Mr. Freudberg were removed pursuant to a Separation Agreement entered into by and between Mr. Freudberg and an indirect wholly owned subsidiary of the Registrant. Form 1 of 2 due to the fact that the Securities and Exchange Commission restricts the number of transactions per form. /s/ Lynne Gerber-Saionz - Attorney in Fact 2005-11-23