<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q

              (Mark One)

     [X]  Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
          Exchange Act of 1934

                      FOR THE QUARTER ENDED MARCH 31, 2001

     [_]  Transition report pursuant to Section 13 or 15(d) of the Securities
          Exchange Act of 1934 For the Period From _________ to __________.

                        Commission File Number: 001-14593

                          THE MIIX GROUP, INCORPORATED
             (Exact name of Registrant as specified in its charter)

<TABLE>
<S>                                                  <C>
                    DELAWARE                                      22-3586492
(State or other jurisdiction of incorporation or     (I.R.S. employer identification number)
                organization)
</TABLE>

               TWO PRINCESS ROAD, LAWRENCEVILLE, NEW JERSEY 08648

             (Address of principal executive offices and zip code)

                                 (609) 896-2404
              (Registrant's telephone number, including area code)
 Securities registered pursuant to Section 12(b) of the Act: Common Stock, par
  value $0.01 per share

        Securities registered pursuant to Section 12(g) of the Act: None


     Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter periods as the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. YES X NO


     As of May 9, 2001, the number of outstanding shares of the Registrant's
Common Stock was 13,563,938.




<PAGE>   2



TABLE OF CONTENTS




<TABLE>
<S>                                                                                                                              <C>
PART I  FINANCIAL INFORMATION ..................................................................................................   4

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS ......................................................................................   4

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ..................................  11

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK .............................................................  14

PART II OTHER INFORMATION ......................................................................................................  15

ITEM 1. LEGAL PROCEEDINGS ......................................................................................................  15

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K .......................................................................................  16

SIGNATURES .....................................................................................................................  17
</TABLE>





<PAGE>   3



The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. This Form 10-Q, the Company's Annual Report to
Stockholders, any Form 10-K or any Form 8-K of the Company or any other written
or oral statements made by or on behalf of the Company may include
forward-looking statements which reflect the Company's current views with
respect to future events and financial performance. These forward-looking
statements are subject to uncertainties and other factors that could cause
actual results to differ materially from such statements. These uncertainties
and other factors include, but are not limited to: the Company having sufficient
liquidity and working capital; the Company's ability to achieve consistent
profitable growth; the Company's ability to diversify its product lines; the
continued adequacy of the Company's loss and loss adjustment expense reserves;
the Company's avoidance of any material loss on collection of reinsurance
recoverables; increased competitive pressure; the loss of significant customers;
general economic conditions, including changing interest rates; rates of
inflation and the performance of the financial markets; judicial decisions and
rulings; changes in domestic and foreign laws, regulations and taxes; geographic
concentration of the Company's business; effects of acquisitions and
divestitures; and various other factors. The words "believe," "expect,"
"anticipate," "project," and similar expressions identify forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.


                                                                               3
<PAGE>   4


PART I   FINANCIAL INFORMATION

ITEM 1.  CONSOLIDATED FINANCIAL STATEMENTS


                        REPORT OF INDEPENDENT ACCOUNTANTS

Board of Directors
The MIIX Group, Incorporated

We have reviewed the accompanying consolidated balance sheet of The MIIX Group,
Incorporated and subsidiaries as of March 31, 2001, and the related consolidated
statements of income for the three month periods ended March 31, 2001 and 2000,
and the consolidated statements of cash flows for the three month periods ended
March 31, 2001 and 2000 and the consolidated statement of equity for the three
month period ended March 31, 2001. These financial statements are the
responsibility of the Company's management.

We conducted our reviews in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures to
financial data, and making inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with auditing standards generally accepted in the United States,
which will be performed for the full year with the objective of expressing an
opinion regarding the financial statements taken as a whole. Accordingly, we do
not express such an opinion.

Based on our reviews, we are not aware of any material modifications that should
be made to the accompanying consolidated financial statements referred to above
for them to be in conformity with accounting principles generally accepted in
the United States.

We have previously audited, in accordance with auditing standards generally
accepted in the United States, the consolidated balance sheets of The MIIX
Group, Incorporated and subsidiaries as of December 31, 2000 and 1999, and the
related consolidated statements of income, stockholders' equity, and cash flows
for each of the three years in the period ended December 31, 2000, not presented
herein, and in our report dated February 21, 2001, we expressed an unqualified
opinion on those consolidated financial statements. In our opinion, the
information set forth in the accompanying consolidated balance sheet as of
December 31, 2000, is fairly stated, in all material respects, in relation to
the consolidated balance sheet from which it has been derived.


                                ERNST & YOUNG LLP


New York, New York
May 1, 2001





                                                                               4
<PAGE>   5





                          THE MIIX GROUP, INCORPORATED
                           CONSOLIDATED BALANCE SHEETS
                      (IN THOUSANDS, EXCEPT SHARE AMOUNTS)

<TABLE>
<CAPTION>
                                                                                                      MARCH 31,         DECEMBER 31,
                                                                                                     ------------------------------
                                                                                                        2001               2000
                                                                                                     -----------        -----------
                                    ASSETS                                                           (Unaudited)
<S>                                                                                                 <C>                <C>
Securities available-for-sale:
   Fixed maturity investments, at fair value (amortized cost: 2001 -
     $1,183,855; 2000 - $1,184,057) ..........................................................       $ 1,182,435        $ 1,171,184
   Equity investments, at fair value (cost: 2001 - $6,942; 2000 - $6,880) ....................             5,312              5,837
   Short-term investments, at cost which approximates fair value .............................            85,117             82,291
                                                                                                     -----------        -----------
         Total investments ...................................................................         1,272,864          1,259,312
                                                                                                     -----------        -----------
Cash .........................................................................................               200              2,191
Accrued investment income ....................................................................            15,055             16,074
Premium receivable, net ......................................................................            41,658              9,765
Reinsurance recoverable on unpaid losses .....................................................           436,394            432,046
Prepaid reinsurance premiums .................................................................            10,911             14,560
Reinsurance recoverable on paid losses, net ..................................................             4,750             13,820
Deferred policy acquisition costs ............................................................             5,074              3,026
Deferred income taxes ........................................................................            55,040             58,896
Receivable for securities ....................................................................             1,787                  0
Net investment in direct financing leases ....................................................            28,053             26,997
Other assets .................................................................................            56,157             60,666
                                                                                                     -----------        -----------
         Total assets ........................................................................       $ 1,927,943        $ 1,897,353
                                                                                                     ===========        ===========

                     LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Unpaid losses and loss adjustment expenses ...................................................       $ 1,138,119        $ 1,142,530
Unearned premiums ............................................................................           122,537             71,033
Premium deposits .............................................................................                 0             15,618
Funds held under reinsurance treaties ........................................................           299,185            306,693
Notes payable and other borrowings ...........................................................            14,585             14,732
Other liabilities ............................................................................            51,253             57,306
                                                                                                     -----------        -----------
         Total liabilities ...................................................................       $ 1,625,679        $ 1,607,912
                                                                                                     -----------        -----------

STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares
   issued and outstanding ....................................................................       $         0        $         0

Common stock, $0.01 par value, 100,000,000 shares authorized, 16,538,005 shares
   issued, (2001 - 13,563,938 shares outstanding; 2000 - 13,563,938
   shares outstanding) .......................................................................               166                166
Additional paid-in capital ...................................................................            53,719             53,716
Retained earnings ............................................................................           295,478            289,655
Treasury stock, at cost (2001 - 2,974,067 shares; 2000 - 2,974,067 shares) ...................           (38,897)           (38,897)
Stock purchase loans and unearned stock compensation .........................................            (6,003)            (5,929)
Accumulated other comprehensive loss .........................................................            (2,199)            (9,270)
                                                                                                     -----------        -----------
         Total stockholders' equity ..........................................................       $   302,264        $   289,441
                                                                                                     -----------        -----------
         Total liabilities and stockholders' equity ..........................................       $ 1,927,943        $ 1,897,353
                                                                                                     ===========        ===========
</TABLE>

See accompanying notes




                                                                               5


<PAGE>   6




                          THE MIIX GROUP, INCORPORATED

                        CONSOLIDATED STATEMENTS OF INCOME
                    (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
                                   (UNAUDITED)
<TABLE>
<CAPTION>

                                                           THREE MONTHS ENDED
                                                                MARCH 31,
                                                          ---------------------
                                                            2001         2000
                                                          --------     --------
<S>                                                       <C>          <C>
REVENUES
Net premiums earned .................................     $ 44,634     $ 49,179
Net investment income ...............................       21,310       21,479
Realized investment gains/ (losses) .................        3,019          (29)
Other revenue .......................................        2,095        3,242
                                                          --------     --------
     Total revenues .................................       71,058       73,871
                                                          --------     --------
EXPENSES
Losses and loss adjustment expenses .................       45,604       47,770
Underwriting expenses ...............................        9,844        9,833
Funds held charges ..................................        5,686        4,332
Other expenses ......................................          977        2,357
                                                          --------     --------
     Total expenses .................................       62,111       64,292
                                                          --------     --------

Income before income taxes ..........................        8,947        9,579
Provision for income taxes ..........................        2,446        2,725
                                                          --------     --------
     Net income .....................................     $  6,501     $  6,854
                                                          ========     ========
Basic earnings per share of common stock ............     $   0.48     $   0.47
                                                          ========     ========

Diluted earnings per share of common stock ..........     $   0.48     $   0.47
                                                          ========     ========

Dividend per share of common stock ..................     $   0.05     $   0.05
                                                          ========     ========
</TABLE>


See accompanying notes





                                                                               6
<PAGE>   7





                          THE MIIX GROUP, INCORPORATED

                        CONSOLIDATED STATEMENT OF EQUITY
                    FOR THE THREE MONTHS ENDED MARCH 31, 2001
                      (IN THOUSANDS, EXCEPT SHARE AMOUNTS)
                                   (UNAUDITED)




<TABLE>
<CAPTION>
                                                                                            STOCK
                                                                                          PURCHASE
                                                                                         LOANS AND    ACCUMULATED
                                 NUMBER OF    COMMON  ADDITIONAL                          UNEARNED      OTHER          TOTAL
                                   SHARES      STOCK   PAID-IN     RETAINED  TREASURY      STOCK     COMPREHENSIVE  STOCKHOLDERS'
                                OUTSTANDING   ISSUED   CAPITAL     EARNINGS   STOCK    COMPENSATION  INCOME/(LOSS)     EQUITY
                                ------------  -------  ----------  --------  --------  ------------  -------------  -------------
<S>                             <C>           <C>      <C>         <C>       <C>       <C>           <C>            <C>
Balance at January 1, 2001.....   13,563,938    $ 166     $53,716  $289,655  $(38,897)      $(5,929)       $(9,270)      $289,441
 Net income....................                                       6,501                                                 6,501

 Other comprehensive
  income, net of tax:

 Unrealized appreciation
  on securities available-
  for-sale, net of deferred
  taxes........................                                                                              7,071          7,071

 Stock purchase and loan
  agreements activities........                                                                 (74)                          (74)

 Stock compensation............                                 3                                                               3

 Purchase of treasury stock,
  net..........................

 Cash dividends to
  stockholders.................                                       (678)                                                  (678)
                                ------------  -------  ----------  --------  --------  ------------  -------------  -------------
Balance at March 31, 2001......   13,563,938  $  166      $53,719  $295,478  $(38,897)      $(6,003)       $(2,199)      $302,264
                                ============  =======  ==========  ========  ========  ============  =============  =============
</TABLE>


See accompanying notes





                                                                               7
<PAGE>   8





                          THE MIIX GROUP, INCORPORATED

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (IN THOUSANDS)
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                                                                                            THREE MONTHS ENDED
                                                                                                                 MARCH 31,
                                                                                                        ---------------------------
                                                                                                           2001              2000
                                                                                                        ---------         ---------
<S>                                                                                                     <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income .....................................................................................        $   6,501         $   6,854
Adjustments to reconcile net income to net cash provided by operating activities
  (net of balances acquired):
Unpaid losses and loss adjustment expenses .....................................................           (4,411)            3,817
Unearned premiums ..............................................................................           51,504            70,962
Premium deposits ...............................................................................          (15,618)          (27,913)
Premium receivable, net ........................................................................          (31,893)           (5,018)
Reinsurance balances, net ......................................................................              862            (2,450)
Deferred policy acquisition costs ..............................................................           (2,048)           (3,319)
Realized (gains)/losses ........................................................................           (3,019)               29
Depreciation, accretion and amortization .......................................................           (1,038)             (810)
Deferred income tax provision ..................................................................               60             1,234
Accrued investment income ......................................................................            1,019               178
Net investment in direct financing leases ......................................................           (1,056)             (689)
Other assets ...................................................................................            4,509            42,137
Other liabilities ..............................................................................           (5,985)           (5,700)
                                                                                                        ---------         ---------
Net cash (used in)/provided by operating activities ............................................             (613)           79,312
                                                                                                        ---------         ---------

CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from fixed maturity investment sales ..................................................           82,821            25,204
Proceeds from fixed maturity investments matured, called, or prepaid ...........................           40,576            23,951
Proceeds from equity investment sales ..........................................................                0             4,561
Cost of investments acquired ...................................................................         (119,200)          (56,217)
Change in short-term investments, net ..........................................................           (2,826)          (68,278)
Net receivable for securities ..................................................................           (1,787)            2,875
                                                                                                        ---------         ---------
Net cash used in investing activities ..........................................................             (416)          (67,904)
                                                                                                        ---------         ---------

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable and other borrowings ...............................................            1,550            16,847
Repayment of notes payable and other borrowings ................................................           (1,697)          (16,461)
Purchase of treasury stock .....................................................................                0           (10,411)
Cash dividends to stockholders .................................................................             (678)             (720)
Subordinated loan certificates redeemed ........................................................             (137)               (3)
                                                                                                        ---------         ---------
Net cash used in financing activities ..........................................................             (962)          (10,748)
                                                                                                        ---------         ---------

Net change in cash .............................................................................           (1,991)              660
Cash at beginning of period ....................................................................            2,191             2,574
                                                                                                        ---------         ---------
Cash at end of period ..........................................................................        $     200         $   3,234
                                                                                                        =========         =========
</TABLE>

See accompanying notes




                                                                               8
<PAGE>   9




NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1. BASIS OF PRESENTATION

The accompanying consolidated financial statements include the accounts and
operations of The MIIX Group, Incorporated (the "MIIX Group") and its
wholly-owned subsidiaries, MIIX Insurance Company ("MIIX"), Lawrenceville
Holdings, Inc. ("LHI"), Lawrenceville Property and Casualty Company ("LP&C"),
MIIX Insurance Company of New York ("MIIX New York") and New Jersey State
Medical Underwriters, Inc. and its wholly-owned subsidiaries (the
"Underwriter"), collectively (the "Company"). The consolidated financial
statements have been prepared in accordance with accounting principles generally
accepted in the United States for interim financial information and in the
opinion of management, reflect all adjustments considered necessary for a fair
presentation. Such adjustments are of a normal recurring nature. Operating
results for the interim period are not necessarily indicative of the results to
be expected for the full year.

These consolidated financial statements and notes should be read in conjunction
with the audited consolidated financial statements and notes of the Company for
the year ended December 31, 2000 which were filed with the Securities and
Exchange Commission on Form 10-K.

2. STOCK BASED COMPENSATION

The Company accounts for its stock-based compensation in accordance with APB
Opinion No. 25, Accounting for Stock Issued to Employees (APB 25) and related
interpretations. The Company's policy regarding stock options is to issue
options with an exercise price equal to the market price on the date of grant.
Under APB 25 no compensation expense is recognized given the Company's policy.
During the three months ended March 31, 2001, certain directors, executive
officers and employees were granted a total of 406,060 options to purchase
shares of The MIIX Group common stock with exercise prices ranging from $7.4688
to $7.4500, of which 27,310 options were immediately exercisable.

3. EARNINGS PER SHARE

Basic and diluted earnings per share are computed using the weighted-average
number of common shares outstanding of 13,555,378, and 13,567,771 for the
three-month period ended March 31, 2001, and 14,648,397 and 14,666,572 for the
three-month period ended March 31, 2000.

The following table sets forth the computation of basic and diluted earnings per
share:

<TABLE>
<CAPTION>
                                                                                                                  THREE MONTHS ENDED
                                                                                                                       MARCH 31,
                                                                                                                  ------------------
                                                                                                                    2001     2000
                                                                                                                  -------  -------
                                                                                                                    (In thousands)
<S>                                                                                                               <C>      <C>
Numerator for basic and diluted earnings per share of common stock:
     Net income ...............................................................................................   $ 6,501  $ 6,854

Denominator:
     Denominator for basic earnings per share of common stock - weighted-average
     shares of outstanding ....................................................................................    13,555   14,648

Effect of dilutive securities:
     Stock options and nonvested restricted stock .............................................................        13       19
                                                                                                                  -------  -------

     Denominator for diluted earnings per share of common stock - adjusted
     weighted-average .........................................................................................    13,568   14,667

Basic earnings per share of common stock ......................................................................   $  0.48  $  0.47
                                                                                                                  =======  =======

Diluted earnings per share of common stock ....................................................................   $  0.48  $  0.47
                                                                                                                  =======  =======
</TABLE>



                                                                               9
<PAGE>   10



4. COMPREHENSIVE INCOME

The Company has classified its entire investment portfolio as available-for-sale
and had unrealized gains at March 31, 2001 and December 31, 2000 that are
reflected as accumulated other comprehensive income in the Consolidated
Statement of Equity and Consolidated Balance Sheets.

The components of comprehensive income, net of related tax, for the periods
ended March 31, 2001 and 2000 are as follows:

<TABLE>
<CAPTION>
                                                                                                             THREE MONTHS ENDED
                                                                                                                   MARCH 31,
                                                                                                           -------------------------
                                                                                                             2001              2000
                                                                                                           --------         --------
                                                                                                                (In thousands)
<S>                                                                                                        <C>              <C>
Net income ........................................................................................        $  6,501         $  6,854

Other comprehensive income:
Unrealized holding appreciation arising during period (net of tax of $4,599 and
$298, respectively) ...............................................................................           9,033              553

Reclassification adjustment for losses/(gains) realized in net income (net of tax
of $(1,057) and $10, respectively) ................................................................          (1,962)              19
                                                                                                           --------         --------
Net unrealized appreciation arising during the period ended March 31 (net of tax of
$3,542 and $308, respectively) ....................................................................           7,071              572
                                                                                                           --------         --------
Comprehensive income ..............................................................................        $ 13,572         $  7,426
                                                                                                           ========         ========
</TABLE>

5. DEFERRED POLICY ACQUISITION COSTS

The following represents the components of deferred policy acquisition costs and
the amounts that were charged to expense for the three months ended March 31,
2001 and 2000.

<TABLE>
<CAPTION>
                                                          THREE MONTHS ENDED
                                                               MARCH 31,
                                                        -----------------------
                                                          2001            2000
                                                        -------         -------
                                                           (In thousands)
<S>                                                     <C>             <C>
Balance at beginning of period .................        $ 3,026         $ 3,165
Cost deferred during the period ................          4,798           6,015
Amortization expense ...........................         (2,750)         (2,696)
                                                        =======         =======
Balance at end of period .......................        $ 5,074         $ 6,484
                                                        =======         =======
</TABLE>

6. INCOME TAXES

A reconciliation of income tax computed based on the expected annual effective
federal statutory tax rate to total income tax expense for the periods ended
March 31, 2001 and 2000 are as follows:

<TABLE>
<CAPTION>
                                                                                THREE MONTHS ENDED MARCH 31,
                                                               --------------------------------------------------------------------
                                                                           2001                                  2000
                                                               ------------------------------       -------------------------------
                                                                                 % OF INCOME                         % OF INCOME
                                                               INCOME TAX           BEFORE            INCOME TAX      BEFORE INCOME
                                                                 EXPENSE         INCOME TAXES          EXPENSE             TAXES
                                                                 -------         ------------          -------             -----
                                                             (In thousands)                        (In thousands)
<S>                                                          <C>                 <C>               <C>                <C>
Expected annual effective federal
    income tax at 35% ...............................           $ 3,132              35.0%           $ 3,353              35.0%
Decrease in taxes resulting from:
    Tax-exempt interest .............................              (462)             (5.2)%             (622)             (6.5)%
    Other ...........................................              (224)             (2.5)%               (6)             (0.1)%
                                                                -------              ----            -------              ----
Total income tax ....................................           $ 2,446              27.3%           $ 2,725              28.4%
                                                                =======              ====            =======              ====
</TABLE>


                                                                              10
<PAGE>   11



7. RELATED PARTY TRANSACTION

On May 24, 2000, the Company obtained a $20.0 million revolving credit facility
with Amboy National Bank to meet certain non-operating cash needs as they may
arise. The credit facility terminates April 7, 2002 and bears a fixed interest
rate of 8.0% per annum. The Company has pledged 100% of The MIIX Insurance
Company stock as collateral under the credit facility. As of March 31, 2001 the
Company had borrowed approximately $9.1 million against the credit facility.
During the three month period ended March 31, 2001 the company incurred interest
expense on the loan of approximately $0.2 million. At March 31, 2001 the Company
had fixed maturity investments in Amboy National Bank of approximately $9.1
million earning a fixed interest rate of 6% per annum. The Company's former CEO
is a brother of the Senior Vice President and CFO of Amboy National Bank. The
Company believes that the related party transaction described above was on terms
as fair to the Company as could have been obtained from an unaffiliated third
party.

8. RECLASSIFICATION

Certain amounts have been reclassified for the prior years to be comparable to
the 2001 presentation.

9. SUBSEQUENT EVENTS

On April 16, 2001, Kenneth M. Koreyva resigned his positions as President, Chief
Executive Officer and Director of the Company to pursue other business
interests. The Company's six-person executive management team has assumed
responsibility for day-to-day operations and will report to the Executive
Committee of the Board until the search for a new CEO is completed.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

The following discussion should be read in conjunction with the financial
statements and the related notes thereto appearing elsewhere in this Form 10-Q.

RESULTS OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2001 COMPARED TO THE THREE MONTHS ENDED MARCH 31,
2000

Net premiums earned. Net premiums earned decreased approximately $4.6 million,
or 9.2% to $44.6 million for the three months ended March 31, 2001 from $49.2
million for the three months ended March 31, 2000. This decrease is mainly
attributable to decreased direct, assumed, and ceded premiums earned of $6.0
million, $3.2 million and $4.6 million, respectively, in the three months ended
March 31, 2001. These decreases primarily resulted from a decline in direct
premiums written during the nine months in 2000 and first quarter in 2001, non-
renewal of a large excess of loss reinsurance assumed contract, and lower ceded
premiums associated with the aggregate reinsurance contract primarily resulting
from a decline in direct earned premiums.

Total premiums written were $100.8 million for the three months ended March 31,
2001, a decrease of $28.0 million, or 21.7% from total premiums written of
$128.8 million for the three months ended March 31, 2000. This decrease was
composed of a net decrease in direct premiums written of $14.3 million and a
decrease in assumed premiums written of $13.7 million associated with the
non-renewal of a large excess of loss reinsurance contract, effective January 1,
2001. The net decline in direct premiums written followed significant selected
rate increases and disciplined underwriting actions.

Net investment income. Net investment income decreased approximately $0.2
million or 0.8% to $21.3 million for the three months ended March 31, 2001 from
$21.5 million for the same period in 2000. Average invested assets at amortized
cost were approximately $1.27 billion for the three months ended March 31, 2001
and 2000. The average annualized pre-tax yield on the investment portfolio was
6.69% for the three months ended March 31, 2001 compared to 6.75% for the same
period in 2000 primarily due to lower market yields.

Realized investment gains/(losses). Net realized investment gains were $3.0
million for the three months ended March 31, 2001 compared to net realized
investment losses of $29,000 for the same period in 2000. Realized gains of
approximately $4.2 million were recognized during the quarter due to sales of
fixed maturity investments to reposition the portfolio in a declining market
yield environment and were somewhat offset by

                                                                              11
<PAGE>   12

$1.2 million of net losses resulting from the recognition of other than
temporary declines in investment values associated with certain high yield
securities. In 2000 the losses were principally due to sales of fixed-maturity
investments to reposition the investment portfolio in an increasing market yield
environment.

Other revenue. Other revenue decreased approximately $1.1 million or 35.4% to
$2.1 million for the three months ended March 31, 2001 from $3.2 million for the
same period last year. This net decrease is composed of a $1.8 million decrease
in reinsurance brokerage activity, due to the sale of substantially all of the
assets of the Company's reinsurance intermediary subsidiary on July 1, 2000,
partially offset by an increase in finance charge income of $0.7 million
resulting from the Company's premium financing program which began in November
2000.

Loss and loss adjustment expense (LAE). The provision for losses and LAE
decreased $2.2 million, or 4.5%, to $45.6 million for the three months ended
March 31, 2001 from $47.8 million for the three months ended March 31, 2000. The
provision for losses and LAE is net of ceded losses and LAE of $9.1 million and
$16.2 million for the three months ended March 31, 2001 and 2000, respectively.
The ratio of net losses and LAE to net premiums earned increased to 102.2% for
the three months ended March 31, 2001 from 97.1% for the same period in 2000.
The ratio of net losses and LAE to net premiums earned for the three months
ended March 31, 2001 and 2000 were impacted by adjustments to reserves held on
prior accident years. For the three months ended March 31, 2001, gross loss and
LAE reserves associated with a large excess of loss assumed reinsurance contract
were increased by $2.0 million. There was no adjustment to ceded loss and LAE
reserves or to ceded earned premiums. Excluding the impact of this adjustment to
prior accident year reserves, the loss and LAE ratio was 97.7% for the three
months ended March 31, 2001. For the three months ended March 31, 2000, gross
loss and LAE reserves held on prior accident years were increased by $3.0
million, ceded loss and LAE reserves were increased by $3.0 million, and ceded
premiums earned were increased by $1.4 million. Excluding the impact of these
adjustments to prior accident years, the loss and LAE ratio was 94.4% for the
three months ended March 31, 2000.

Underwriting expenses. Underwriting expenses were $9.8 million for the three
months ended March 31, 2001 and 2000. The ratio of underwriting expenses to net
premiums earned increased to 22.1% for the three months ended March 31, 2001
from 20.0% for the same period in 2000 as a result of a reduction in net
premiums earned between the two periods.

Funds held charges. Funds held charges relate to the Company's aggregate
reinsurance contracts and increased $1.4 million or 31.3% to $5.7 million for
the three months ended March 31, 2001, from $4.3 million for the three months
ended March 31, 2000. This increase was the combined result of a larger balance
of funds held upon which funds held charges are incurred and a reduction in
funds held charges in the amount of $0.6 million for the three months ended
March 31, 2000 associated with adjustments to prior accident year ceded loss and
LAE reserves during that period.

Other expenses. Other expenses decreased $1.4 million or 58.5% to $1.0 million
for the three months ended March 31, 2000, from $2.4 million and primarily
consist of the costs associated with the leasing and other businesses owned by
the Company. The decrease is primarily related to the sale of substantially all
of the assets of the Company's reinsurance intermediary subsidiary on July 1,
2000.

Income taxes. Income taxes were $2.4 million for the three months ended March
31, 2001, resulting in an effective tax rate of 27.3%, compared to $2.7 million
and an effective tax rate of 28.4% for the same period in 2000. The decreased
effective tax rate was primarily attributable to true-up adjustments of $227,000
recorded in the three months ended March 31, 2001.

Net income. Net income decreased by $0.4 million or 5.2% to $6.5 million for the
three months ended March 31, 2001, from $6.9 million for the three months ended
March 31, 2000, for the reasons described above.

FINANCIAL CONDITION

Cash and invested assets. Aggregate invested assets at fair value, including
cash and short-term investments, were $1,273.1 million at March 31, 2001 and
$1,261.5 million at December 31, 2000. The net increase of $11.6 million largely
resulted from net appreciation of investments during the period.


                                                                              12
<PAGE>   13


Fixed maturities available for sale at fair value, including short-term
investments, were $1,267.6 million, or 99.6% of the investment portfolio of the
Company as of March 31, 2001. At that date, the average credit quality of the
fixed income portfolio was "AA-," as defined by Standard & Poor's, while the
total portfolio effective duration (excluding short-term investments) was 4.88
years.

Unpaid losses and LAE, reinsurance recoverable on unpaid losses and LAE and
funds held under reinsurance treaties. Gross unpaid losses and LAE were $1,138.1
million at March 31, 2001 and $1,142.5 million at December 31, 2000. Reinsurance
recoverable on unpaid losses and LAE was $436.4 million at March 31, 2001 and
$432.0 million at December 31, 2000. Funds held under reinsurance treaties,
which are unrestricted, collateralize a significant portion of reinsurance
recoverable on unpaid losses and LAE and were $299.2 million at March 31, 2001,
and $306.7 million at December 31, 2000.

Equity. Total equity was $302.3 million at March 31, 2001 and $289.4 million at
December 31, 2000. The net increase of $12.9 million consisted of net income of
$6.5 million and unrealized net appreciation of investments of $7.1 million
offset in part primarily by cash dividends of $0.7 million paid to stockholders
during the period.

LIQUIDITY AND CAPITAL RESOURCES

The MIIX Group, Incorporated. The MIIX Group is a holding company whose only
material assets are the capital stock of MIIX Insurance Company, a New Jersey
stock insurer, and New Jersey State Medical Underwriters, Inc., a New Jersey
corporation. The MIIX Group's ongoing cash flow will consist primarily of
investment income on its holdings and dividends and other permissible payments
from its subsidiaries. The MIIX Group will depend upon such payments for funds
for general corporate purposes and for the payment of dividends on the Common
Stock.

The payment of dividends to The MIIX Group by MIIX Insurance Company is subject
to limitations imposed by the New Jersey Holding Company Act. Based upon these
limitations, the maximum amount that will be available for payment of dividends
to The MIIX Group by MIIX Insurance Company in any year without the prior
approval of regulatory authorities is subject to restrictions related to surplus
and net income. MIIX Insurance Company's future cash flow available to The MIIX
Group may be influenced by a variety of factors, including cyclical changes in
the medical malpractice insurance market, MIIX Insurance Company's financial
results, insurance regulatory changes, including changes in the limitations
imposed by the New Jersey Holding Company Act on the payment of dividends by
MIIX Insurance Company, and changes in general economic conditions. The MIIX
Group expects that these limitations should not affect the ability of MIIX
Insurance Company to declare and pay dividends sufficient to support The MIIX
Group's dividend policy.

On May 24, 2000, the Company obtained a $20.0 million revolving credit facility
with Amboy National Bank to meet certain non-operating cash needs as they may
arise. The credit facility terminates April 7, 2002 and bears a fixed interest
rate of 8.0% per annum. The Company has pledged 100% of The MIIX Insurance
Company stock as collateral under the credit facility. As of March 31, 2001 the
Company had borrowed approximately $9.1 million against the credit facility.
During the three month period ended March 31, 2001 the company incurred interest
expense on the loan of approximately $0.2 million. The Company's former CEO is a
brother of the Senior Vice President and CFO of Amboy National Bank. The Company
believes that the related party transaction described above was on terms as fair
to the Company as could have been obtained from an unaffiliated third party.

The primary sources of the Company's liquidity, on both a short and long-term
basis, are funds provided by insurance premiums collected, net investment
income, recoveries from reinsurance and proceeds from the maturity or sale of
invested assets. Such funds are generally used to pay claims, LAE, operating
expenses, reinsurance premiums and taxes. The Company's net cash flows from
operating activities were approximately $(0.6) million and $79.3 million for the
three months ended March 31, 2001 and 2000, respectively, and $59.4 million for
the year ended 2000. This decrease in operating cash flows of $79.9 million was
largely the result of two items, one impacting cash flows in first quarter 2000
and the other impacting cash flows in first quarter 2001. For the three months
ended March 31, 2000, operating cash flows were significantly increased due to
one-time proceeds of $33.0 million collected on termination of the Company's
corporate-owned life insurance (COLI) program. Without these one-time proceeds,
operating cash flows in the three months ended March 31, 2000 were $46.3
million. For the three months ended March 31, 2001, operating cash flows were
significantly impacted by premium financing activity conducted by the Company
under a program begun in November 2000. Prior to November 2000, premium
financing was conducted by a third party vendor and the Company received

                                                                              13
<PAGE>   14

full proceeds from financed policies shortly after the policies were written
from the third party vendor. Excluding the impact of the net premium financing
activity of $37.9 million, operating cash flows in the three months ended March
31, 2001 were $37.3 million. The $9.0 million decrease in operating cash flows
excluding these two items, from $46.3 million in the three months ended March
31, 2000 to $37.3 million in the three months ended March 31, 2001 was largely
the net result of a decrease in net premiums written, somewhat offset by a
decrease in net losses and loss adjustment expenses paid and a net decrease in
other payments between the periods. Because of the inherent unpredictability
related to the timing of many of these items, particularly the payment of
claims, it is not unusual for cash flows from operations for a medical
malpractice insurance company to vary, perhaps substantially, from period to
period.

The Company held collateral of $299.2 million at March 31, 2001 and $306.7 at
December 31, 2000, in the form of funds withheld and $173.2 million at March 31,
2001 and December 31, 2000 in the form of letters of credit for recoverable
amounts on ceded unpaid losses and loss adjustment expenses under certain
reinsurance agreements. Under the contracts, reinsurers may require that a trust
fund be established to hold the collateral should one or more triggering events
occur, such as a downgrade in the Company's A.M. Best rating to below B+, a
reduction in statutory capital and surplus to less than $60 million, or a change
in controls. Otherwise, no restrictions are placed on investments held in
support of the funds withheld. In accordance with the provisions of the
reinsurance contracts, the funds withheld are credited with interest at
contractual rates ranging from 7.5% to 8.6%, which is recorded as an expense in
the year incurred.

The Company invests substantially all of its positive cash flow from operations
in fixed maturity securities. The current investment strategy seeks to maximize
after-tax income through a high quality, diversified, duration sensitive,
taxable bond and tax-preferenced municipal bond portfolio, while maintaining an
adequate level of liquidity.

Based on historical trends, market conditions and its business plans, the
Company believes that its sources of funds will be sufficient to meet its
liquidity needs over the next 18 months and beyond. However, because economic,
market, and regulatory conditions may change, there can be no assurance that the
Company's funds will be sufficient to meet these liquidity needs.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Market risk represents the potential for loss due to adverse changes in the fair
value of financial instruments. The market risk associated with the financial
instruments of the Company relates to the investment portfolio, which exposes
the Company to risks related to unforeseen changes in interest rates, credit
quality, prepayments and valuations. Analytical tools and monitoring systems are
in place to continually assess and react to each of these elements of market
risk.

Interest rate risk is considered by management to be the most significant market
risk element currently facing the Company. Interest rate risk is the price
sensitivity of a fixed-maturity security to changes in interest rates. The
Company views these potential changes in price within the overall context of
assets and liability management. To reduce the Company's interest rate risk,
duration targets are set for the fixed income portfolio after consideration of
the duration of associated liabilities, primarily losses and LAE reserves, and
other factors.

The Company's investment portfolio at March 31, 2001 is primarily composed of
fixed-maturity securities, consisting of 92.9% of total investments at market
value. U.S. government and tax-exempt bonds represent 29%, corporate bonds
represent 39%, and mortgage backed and asset backed securities represent 32% of
fixed-maturity investments. Short-term investments represent 6.7% of total
investments at market value and equity investments, primarily common stock,
accounts for the remaining 0.4%.

At March 31, 2001 the Company had net after-tax unrealized losses on its fixed
maturity investment portfolio of $1.1 million, which included a deferred tax
valuation allowance of $0.6 million. The net after-tax unrealized losses of $1.1
million on the fixed maturity portfolio represented 0.4% of total stockholders'
equity gross of net after-tax unrealized losses on investments. At December 31,
2000 the Company had net after-tax unrealized losses on its fixed maturity
investment portfolio of $8.6 million, which included a deferred tax valuation
allowance of $0.6 million. The unrealized losses at March 31, 2001 do not
significantly impact the Company's ability to meet all regulatory capital
requirements.


                                                                              14
<PAGE>   15


Management does not expect that significant unrealized losses will be realized
on the fixed maturity portfolio given the credit quality of the portfolio at
March 31, 2001 and the Company's policy of matching asset and liability
maturities. Asset and liability matching is an important part of the Company's
portfolio management process. The Company utilizes financial modeling and
scenario analysis to closely monitor the effective modified duration of both
assets and liabilities in order to minimize any mismatching. The goal of
effective asset/liability management is to allow payment of claims and operating
expenses from operating funds without disrupting the Company's long-term
investment strategy.

In addition to interest rate risk, fixed-maturity securities like those
comprising the Company's investment portfolio involve other risks such as
default or credit risk. The Company manages this risk by limiting the amount of
higher risk corporate obligations (determined by credit rating assigned by
private rating agencies) in which it invests.

Mortgage-backed and asset-backed securities involve similar risks associated
with fixed-maturity investments: interest rate risk, reinvestment rate risk, and
default or credit risk. In addition, mortgage-backed and asset-backed securities
also possess prepayment risk, which is the risk that a security's originally
scheduled interest and principal payments will differ considerably due to
changes in the level of interest rates. The Company purchases mortgage-backed
and asset-backed securities structured to enhance credit quality and/or provide
prepayment stability.

Short-term investments are composed of highly rated money market instruments,
which are subject to an element of interest rate risk, although to a lesser
extent than those instruments discussed above due to a shorter maturity.

The Company also holds a portfolio of equity investments. The value of the
common stock investments is dependent upon general conditions in the securities
markets and the business and financial performance of the individual companies
in the equity portfolio. At March 31, 2001, the cost and fair value of equity
investments was $6.9 million and $5.3 million respectively. The net after-tax
unrealized losses of $1.1 million on the equity portfolio represented 0.4% of
total stockholders' equity gross of net after-tax unrealized losses on
investments.

There have been no material changes to the Company's financial market risks
since December 31, 2000.

PART II OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

ACTIONS OPPOSING THE PLAN OF REORGANIZATION

In January 1999, five physician members of the Medical Inter-Insurance Exchange
("Exchange") filed a putative class action against the Exchange, Underwriter,
MIIX Group, certain of their officers and the board of the Exchange. Other
parties were subsequently added as defendants in the action. Among other things,
plaintiffs sought to force the Exchange to declare a dividend from surplus and
reserves, challenge various components of the reorganization including, but not
limited to, the stock allocation formula contained in the Plan of Reorganization
and the valuation of Underwriter, challenge the composition of the Board of
Directors of MIIX Group as excessive, challenge key executive compensation and
benefit packages as excessive, challenge the proposed IPO share price of MIIX
Group stock as inadequate, challenge the MIIX Prospectus as misleading and to
recover unspecified monetary damages. While the action was pending, the
plaintiffs also sought on numerous occasions to stay the members' vote on the
Plan of Reorganization and the IPO of MIIX Group stock. All of those
applications were denied. In August 1999, the trial court dismissed all of
plaintiffs' claims on the grounds that the court lacked jurisdiction to hear
them because they were part of the appeal of the Commissioner's Order and/or
because they failed to state a legal claim. Plaintiffs have filed a Notice of
Appeal with the New Jersey Superior Court, Appellate Division seeking review of
the trial court's orders dismissing the Complaint and denying plaintiffs'
applications for injunctive relief. A decision by the appellate court on the
plaintiffs' appeal is expected shortly.

The Company may be a party to litigation from time to time in the ordinary
course of business. Management believes that the Company is not currently a
party to any litigation which may have a material adverse effect on the Company.





                                                                              15

<PAGE>   16



ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

          a.   Exhibits

<TABLE>
<CAPTION>
                     Item 601
                  Regulation S-K
                 Exhibit Reference                Exhibit
                      Number                    Description

<S>                                 <C>
               3.1                  Restated Certificate of Incorporation by
                                    reference to the exhibit filed with the
                                    registrant's registration statement on Form
                                    S-1 (Reg. No. 333-59371)).

               3.2                  Bylaws of The MIIX Group, (incorporated by
                                    reference to the exhibit filed with the
                                    registrant's registration statement on Form
                                    S-1 (Reg. No. 333-59371)).

               11                   No statement re: computation of per share
                                    earnings is required to be filed because
                                    the computations can be clearly determined
                                    from the materials contained herein.

               15*                  Acknowledgement of Independent Accountant


               * Filed herewith
</TABLE>

          b.   Reports on Form 8-K

               A current report on Form 8-K was filed by the Company on April
               24, 2001 reporting Kenneth M. Koreyva's resignation from his
               positions as President, Chief Executive Officer and Director of
               the Company.




                                                                              16
<PAGE>   17






                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                         THE MIIX GROUP, INCORPORATED


                               By:      /s/ Vincent A. Maressa
                                  ----------------------------------------------
                                    Chairman
                                    (principal executive officer)


                               By:      /s/ Thomas M. Redman
                                  ----------------------------------------------
                                    Chief Financial Officer
                                    (principal financial and accounting officer)


                               Dated:   May 15, 2001





                                                                              17