Exhibit 99.1

CASE NAME: Acceptance Insurance Companies Inc.

CASE NO: 05-80059

Form OPR-1A

COMPARATIVE BALANCE SHEET

ASSETS

	7/31/09		8/31/09		9/30/09		10/31/09		11/30/09		12/31/09
CURRENT ASSETS:
Cash (Attach Recons. & Bk Stmts.)	5,674		1,621		5,431		4,422		140		2,715
Investment securities, at market	350,967		342,524		321,073		263,633		258,177		230,158
Prepaid expense & deposits	60,000		60,000		60,000		60,000		60,000		60,000
TOTAL CURRENT ASSETS	416,641		404,145		386,504		328,055		318,317		292,873
OTHER ASSETS:
Note receivable from AIC	20,000,000		20,000,000		20,000,000		20,000,000		20,000,000		20,000,000
Valuation allowance	(20,000,000	)	(20,000,000	)	(20,000,000	)	(20,000,000	)	(20,000,000	)	(20,000,000	)
Investment in AIC, at underlying book value	1,494,233		2,428,472		2,428,472		1,691,146		1,691,146		1,691,146
Contingent claims	21,500,000		21,500,000		0		0		0		0
TOTAL OTHER ASSETS	22,994,233		23,928,472		2,428,472		1,691,146		1,691,146		1,691,146
TOTAL ASSETS	23,410,874		24,332,617		2,814,976		2,019,201		2,009,463		1,984,019

I CERTIFY UNDER PENALTY OF PERJURY THAT THIS 5 PAGE OPERATING REPORT IS TRUE AND CORRECT.

Date Submitted    January 12, 2010        Signed    /s/ Gary N Thompson            Printed Name of Signatory    Gary N Thompson

Form OPR-1B

COMPARATIVE BALANCE SHEET

LIABILITIES AND STOCKHOLDERS EQUITY

	7/31/09		8/31/09		9/30/09		10/31/09		11/30/09		12/31/09
LIABILITIES:
Post-Petition debt (Sched. C)	27,646		27,921		28,111		11,340		14,418		32,285
Pre-Petition Debt:
Litigation claims	22,000,000		22,000,000		22,000,000		22,000,000		22,000,000		22,000,000
Unsecured liabilities	46,054		46,054		46,054		46,054		46,054		46,054
Unsecured debt	116,110,260		116,110,260		116,110,260		116,110,260		116,110,260		116,110,260
TOTAL LIABILITIES	138,183,960		138,184,235		138,184,425		138,167,654		138,170,732		138,188,599
SHAREHOLDERS EQUITY:
Preferred stock	0		0		0		0		0		0
Common stock	6,274,000		6,274,000		6,274,000		6,274,000		6,274,000		6,274,000
Paid-in capital	199,660,000		199,660,000		199,660,000		199,660,000		199,660,000		199,660,000
Treasury stock	(29,969,000	)	(29,969,000	)	(29,969,000	)	(29,969,000	)	(29,969,000	)	(29,969,000	)
Retained earnings:
As of filing date	(281,005,796	)	(281,005,796	)	(281,005,796	)	(281,005,796	)	(281,005,796	)	(281,005,796	)
After filing date	(9,732,290	)	(8,810,822	)	(30,328,653	)	(31,107,657	)	(31,120,473	)	(31,163,784	)
TOTAL SHAREHOLDERS EQUITY	(114,773,086	)	(113,851,618	)	(135,369,449	)	(136,148,453	)	(136,161,269	)	(136,204,580	)
TOTAL LIABILITIES AND SHAREHOLDER EQUITY	23,410,874		24,332,617		2,814,976		2,019,201		2,009,463		1,984,019

CASE NO: 05-80059

Form OPR-2

STATEMENT OF INCOME

	7/31/09		8/31/09		9/30/09		10/31/09		11/30/09		12/31/09
REVENUE:
Net investment income	542		565		550		560		545		331
Net realized gain	0		0		0		0		0		0
Other	0		0		0		0		0		0
OPERATING EXPENSES:
Salaries and benefits	(8,704	)	(8,880	)	(8,695	)	(8,705	)	(8,703	)	(8,679	)
Board fees and expenses	0		0		0		0		0		0
Financial advisor fees and expenses	0		0		0		0		0		0
Legal fees and expenses	(4,978	)	(1,375	)	(950	)	(27,999	)	(1,075	)	(30,344	)
Accounting fees and expenses	0		0		(3,268	)	(904	)	0		0
Actuarial services	0		0		0		0		0		0
Insurance	0		0		0		0		0		0
Franchise taxes	0		0		0		0		0		0
Filing fees and expenses	(1,296	)	(1,693	)	(4,175	)	(3,259	)	(2,251	)	(3,686	)
Overhead expenses	(786	)	(862	)	(787	)	(789	)	(759	)	(736	)
Miscellaneous	(1,024	)	(526	)	(507	)	(582	)	(573	)	(197	)
NET OPERATING INCOME / LOSS	(16,246	)	(12,771	)	(17,832	)	(41,678	)	(12,816	)	(43,311	)
OTHER INCOME (EXPENSE):
Interest expense	0		0		0		0		0		0
Income tax refund	0		0		0		0		0		0
Write-off of contingent claim (note)	0		0		(21,500,000	)	0		0		0
Equity in operating earnings of AIC	0		940,478		0		(670,186	)	0		0
Equity in unrealized losses of securities of AIC	0		(6,239	)	0		(67,140	)	0		0
TOTAL OTHER INCOME (EXPENSE)	0		934,239		(21,500,000	)	(737,326	)	0		0
NET INCOME (LOSS)	(16,246	)	921,468		(21,517,832	)	(779,004	)	(12,816	)	(43,311	)

CASE NAME: Acceptance Insurance Companies Inc.

CASE NO: 05-80059

Form OPR-3

SOURCES AND USE OF CASH

	7/31/09		8/31/09		9/30/09		10/31/09		11/30/09		12/31/09
CASH DIFFERENCE:
Current ending cash balance	5,674		1,621		5,431		4,422		140		2,715
Less ending prior month balance	(4,811	)	(5,674	)	(1,621	)	(5,431	)	(4,422	)	(140	)
NET CASH INCREASE (DECREASE)	863		(4,053	)	3,810		(1,009	)	(4,282	)	2,575
SOURCES OF CASH:
Net income (loss)	(16,246	)	921,468		(21,517,832	)	(779,004	)	(12,816	)	(43,311	)
Write-off of contingent claim	0		0		21,500,000		0		0		0
Equity in earnings and unrealized losses of AIC	0		(934,239	)	0		737,326		0		0
Decrease in:
Receivables	0		0		0		0		0		0
Marketable securities	16,121		8,443		21,452		57,441		5,456		28,020
Increase in:
Post- petition debt	988		275		190		0		3,078		17,866
Pre-petition debt	0		0		0		0		0		0
TOTAL SOURCES OF CASH	863		(4,053	)	3,810		15,763		(4,282	)	2,575
USES OF CASH:
Increase in:
Receivables	0		0		0		0		0		0
Marketable securities	0		0		0		0		0		0
Decrease in:
Post- petition debt	0		0		0		(16,772	)	0		0
Pre-petition debt	0		0		0		0		0		0
TOTAL USES OF CASH	0		0		0		(16,772	)	0		0
NET CASH INCREASE (DECREASE)	863		(4,053	)	3,810		(1,009	)	(4,282	)	2,575

CASE NAME: Acceptance Insurance Companies Inc.

CASE NO: 05-80059

SCHEDULE C

SCHEDULE OF POST PETITION DEBT

	7/31/09	8/31/09	9/30/09	10/31/09	11/30/09	12/31/09
TRADE ACCOUNTS PAYABLE	27,646	27,921	28,111	11,340	14,418	32,285
PAYROLL AND PAYROLL TAXES	0	0	0	0	0	0
TAXES PAYABLE	0	0	0	0	0	0
TOTAL POST PETITION DEBT	27,646	27,921	28,111	11,340	14,418	32,285