Item 2.02 Results of Operations and Financial Conditions
PICO Holdings, Inc. issued a press release on May 11, 2009 announcing its financial results for the three months ended March 31, 2009. The press release is filed as Exhibit 99.1 and is hereby incorporated by reference in its entirety. The information in this Current Report on Form 8-K and the exhibit attached hereto is being furnished (not filed) under Item 2.02 of Form 8-K. Item 9.01 Financial Statements and Exhibits
(d) Exhibits

Exhibit Number Description 99.1 Press Release of PICO Holdings, Inc. dated May 11, 2009 (financial results for the three months ended March 31, 2009).

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