Business Ethics and Practices PMA Capital is committed to maintaining the highest legal and ethical standards in the conduct of its businesses. PMA Capital employees are therefore required to exercise good judgement; comply with all laws, regulations and applicable policies; and always be honest. The commitment of PMA Capital and its employees applies without exception to all activities, including for example, the way we: • Carry out our obligations to shareholders, the public and each other; • Sell and deliver PMA capital products and services; • Purchase goods and services for PMA Capital; • Fulfill our contractual commitments and other agreements; and • Authorize and account for the use of PMA Capital assets. Click here for the full text of our Business Ethics and Practices Policy. Back to List of Policies Code of Ethics for CEO and Senior Financial Officers PMA Capital is committed to conducting its business in accordance with applicable laws, rules, regulations and the highest ethical standards. This Code of Ethics applies to the Chief Executive Officer ("CEO") of PMA Capital and its Senior Financial Officers (as defined herein). This Code of Ethics is intended to supplement PMA Capital’s Business Ethics and Practices Policy, which is applicable to all officers and employees of PMA Capital. Accordingly, the CEO and Senior Financial Officers are bound by the requirements of the Business Ethics and Practices Policy, as well as this Code of Ethics. The CEO and Senior Financial Officers have a responsibility to conduct themselves in an honest and ethical manner, and have leadership responsibilities that include creating a culture of high ethical standards and commitment to compliance, maintaining a work environment that encourages employees to communicate with the CEO and Senior Financial Officers, (or other designated Company officials) about the ethical conduct of our business and promptly addressing employee compliance concerns. Click here for the full text of our Code of Ethics for CEO and Senior Financial Officers Click here for the Exceptions to the Code of Ethics for CEO and Senior Financial Officers Back to List of Policies Code of Ethics for Directors “PMA Capital” is committed to conducting its business in accordance with applicable laws, rules, regulations and the highest ethical standards. This Code of Ethics applies to the Directors of PMA Capital. The Directors have a responsibility to conduct themselves in an honest and ethical manner and have leadership responsibilities that include creating a culture of integrity and commitment to compliance. Click here for the full text of our Code of Ethics for Directors. Back to List of Policies Insider Trading Policy It is the Policy and practice of PMA Capital to comply strictly with the laws governing the use of Material Non-Public Information, sometimes more commonly referred to as "insider information." As the unlawful use or communication of Material Non-Public Information by employees could have dire consequences for PMA Capital, its officers and employees, all PMA Capital personnel are required to be familiar with these policies and comply with the procedures described in the Insider Trading Policy. Click here for the full text of our Insider Trading Policy. Back to List of Policies