X0202 4 2005-12-13 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 2005-12-13 4 M 0 100 6.50 A 1100 D Class A Common Shares 2005-12-13 4 S 0 100 18.45 D 1000 D Class A Common Shares 2005-12-14 4 M 0 17500 6.50 A 18500 D Class A Common Shares 2005-12-14 4 S 0 200 18.25 D 18300 D Class A Common Shares 2005-12-14 4 S 0 100 18.25 D 18200 D Class A Common Shares 2005-12-14 4 S 0 1 18.25 D 18199 D Class A Common Shares 2005-12-14 4 S 0 100 18.25 D 18099 D Class A Common Shares 2005-12-14 4 S 0 1 18.25 D 18098 D Class A Common Shares 2005-12-14 4 S 0 1802 18.27 D 16296 D Class A Common Shares 2005-12-14 4 S 0 598 18.25 D 15698 D Class A Common Shares 2005-12-14 4 S 0 900 18.25 D 14798 D Class A Common Shares 2005-12-14 4 S 0 100 18.25 D 14698 D Class A Common Shares 2005-12-14 4 S 0 164 18.25 D 14534 D Class A Common Shares 2005-12-14 4 S 0 34 18.21 D 14500 D Class A Common Shares 2005-12-14 4 M 0 15000 10.00 A 29500 D Employee Stock Options 6.50 2005-12-13 4 M 0 100 0.00 D 2003-09-05 2006-04-01 Class A Common Shares 106175 45675 D Employee Stock Options 6.50 2005-12-14 4 M 0 17500 0.00 D 2003-09-05 2006-04-01 Class A Common Shares 106175 28175 D Employee Stock Options 10.00 2005-12-14 4 M 0 15000 0.00 D 2003-09-05 2006-04-01 Class A Common Shares 15000 0 D 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. /s/ Lynne Gerber-Saionz - Attorney in Fact 2005-12-15