UNITY RE CORPORATE PROFILE 2011

Milestones In 1991, North-West Insurance Co. was registered and then acquired by Group RESO – one of the largest insurance holdings with Russia and FSU. In 2004, renamed into Reso Re and started its active development within the reinsurance market of Russia and CIS. In 2005, became one of the first reinsurers in FSU to receive the full-scale international financial strength rating: ‘B+’ by Standard & Poor’s. In 2006, rebranded to Unity Re and also restructured to obtain more high-qualified and experienced team to promote further as the specialist reinsurance center of Group RESO and strategically the leading reinsurer within FSU. In 2007, started operations in overseas markets, writing property, construction and marine business from South America, MENA and SEA regions. In 2007, was granted with the international financial strength rating of ‘BB-’ from Standard & Poor’s. It is maintained until nowdays with the enhancement of the rating outlook from stable to positive. In 2008, promoted actively within the core markets – Russia and CIS, - closing the year as the most dynamically growing specialist reinsurer in the region. In 2009, demonstrated an excellent performance despite the burden of world financial crisis, meanwhile becoming the largest national treaty reinsurer. In 2010, Unity Re finally conquered the top position in the market, ranked the first among the specialist reinsurers in Russia (over 1 bln RUR of GPW) 2 2

Vision & mission Vision Mission Developing to maintain the position of the regional reinsurance market leader with Russia and FSU, providing the widest available scope of the first class reinsurance cover and confident linked services from a position of the absolute leading, financially stable, fast and attentive national reinsurer, and gradually promoting overseas as the reasonable medium-size capacity market player highly committed as a supporting reinsurer for the traditional lines of business. Mission To provide a very fast response to cedants’ demands for a wide range of non-life reinsurance lines of business with the first class growing capacity and additional services; to support the clients with underwriting expertise, confident and prompt claims settlement and relevant advisory; to rely upon a stable, integral and solid team of professionals fully committed to company’s performance and clients’ needs; to promote the status of a leading Russian/FSU specialist reinsurer well known worldwide.

Market Leading Company Highlights & competences Market Leading Company Leading specialist Ranked 1st by reinsurance GPW among specialist reinsurers in Russia & CIS in 2010 Established team Highly regarded & solid management team, stable since 2006 Strong financial performance Consistently profitable with strong underlying growth. Results of 2010 (IFRS): net profit 198.4m US$; LR 53.6%; combined ratio 78.9%; ROE 29.84% Strong capitalisation Exceptionally capitalised with a very strong solvency margin Rated Financial Strength Rating from a leading international agency Regional distribution Distribution across the whole of Russia and the former USSR territories and overseas Corporate governance IFRS audited accounts since year-end 2006. Experienced Supervisory Board. Operating to international standards Excellent operational performance 2010: GPW growth – 9.1%; market share 5%; Renewal ratio – 87,7%; GPW per capita – 51,1 mln RUR Largest and most stable clients’ base 357 companies from Russia, CIS and overseas Brand A recognizable brand with Russia/FSU; London market; MENA region and SEA 4 4

Legal & compliance The 100% shareholder of Unity Re is RESO Holding - one of the leading insurance holdings within Russia & CIS. Currently, the paid-up capital of Unity Re is 500m RUR (~16.6m USD) The actual reinsurance license No. 1643 77 of 04.07.2007. Since 2007, KPMG has been the official auditor of Unity Re for IFRS financials.

International rating Unity Re has the following actual international ratings assigned:  Rating Outlook Status Standard & Poor's   BB- / ruAA-  positive Last mod. 23.08.10 Rating reports specially outline Unity Re’s: Good capitalization Profitability Strong position in the domestic market Very good level of retrocession protection

International rating «The ratings reflect the company's improving competitive position, good capitalization, strong results from insurance business, and good quality of investment portfolio instruments». «Unity Re continues to deliver strong results from insurance operations, continually improving its competitive advantages and strengthening its capitalization». «The positive outlook reflects our expectation that Unity Re will further enhance its competitive position through growth in premiums and number of risks and greater portfolio diversification while maintaining good levels of operating performance and preserving very strong risk-based capital adequacy». «Unity Re's capital adequacy is very strong, according to our risk-based model»

Portfolio 2010 The scope of Unity Re’s activities is classic reinsurance, where the company offers coverage for all major lines of business: general property, construction, energy and petrochemical, cargo, marine hull, aviation, accident & health, liability.

Portfolio 2010 344 (re)insurance and broking companies from Russia, CIS & overseas 287 companies from Russia, inc. all players from Top-50 (a unique!) cooperation with all major brokers operating in Russia, inc.: Marsh, Willis, Aon, Malakut, THB, Nasco, AFM etc.

Portfolio 2010 The major geographical scope of Unity Re’s business is focused at Russia & CIS. Additionally, since 2006, Unity Re has intensified its activities in overseas markets, writing business from South-East Asia, Central & South America and Africa.

Largest paid claims 2006-2010 Amount paid, USD Year Cedant Class Comment 2 500 000 2010 SOGAZ Property Fire at a refinery 656 000 2007 Renessans insurance Furnace explosion at Azovsteel plant 585 000 AzRe (Azerbaijan) Marine Crash of a motor yacht 550 000 ROSNO Explosion at Sayano-Shushenskaya HPP 465 000 2008 Spasskie vorota Fire at a business center 430 000 MIC Fire at a food factory 335 000 Energogarant Fire at Reftinskaya hydro power plant 315 000 2009 Military Insurance Co. Crash of a train 260 000 Renaissance insurance Fire at a plant 230 000 Loss of cargo washed from deck 175 000 Sogaz Aviation Crash of aircraft during lending 170 000 EQ at Sakhalin 155 000 Soglasie Damage to a vessel by grounding 128 000 Standard-Reserve PA Accidental death 125 000 Asuransi Jasa (Indonesia) EQ 116 000 Ard Daatgal (Mongolia) Storm damage to residential property

Market position 2010 Top-10 specialist reinsurers writing genuine reinsurance, 2010: Rank Company GPW, ‘000 RUR 1 Unity Re 1 022 866 2 Moscow Re 1 017 785 3 Transsib Re 774 780 4 Kapital Re 591 218 5 Eastern Re 574 200 6 Russian Re 458 580 7 Munich Re Life CIS 418 686 8 Rosles Re 372 959 9 Megaruss Re 292 162 10 SCOR Reinsurance 249 793

Key financials, IFRS

Key financials, IFRS

Capacity 2011 LOB Maximum line - Net retention, PML basis Maximum line Gross retention Property (FAP/PAR/IAR) USD 1,000,000 USD 50,000,000 (for business from Russia/CIS – XOL treaty) CAR/EAR Energy off-shore - Marine hull / P&I USD 500,000 USD 7,000,000 (worldwide, XOL treaty) Cargo GTPL Aviation Motor USD 250,000 Personal accident USD 200,000 USD 1,500,000

Team International business: Dmitry Garmash, Deputy CEO MA (Fin), Ph.D., MBA Igor Shekhovtsov, Director of International business dept. MA (Fin) Dmitry Vanin, Director on business development MA (Sc) Underwriting: Svetlana Chepeleva, Deputy CEO, Chief underwriter P&C MA (Fin), over 22 years of u/w experience Elena Myasnikova, Managing Underwriter, Marine MA (Fin), over 12 years of u/w experience Julia Mironenko, Managing Underwriter, Treaty MA (Fin), over 12 years of u/w experiance

www.unityre.com Contacts 125047, Russian Federation, Moscow, Gasheka st., 12 Tel.: +7 495 956 6589 Fax: +7 495 956 6598 E-mail: re@unityre.ru www.unityre.com