About Milli Re and Our Approach to the Region by Alexandre Bichot Deputy Head of Department Foreign Inward Business - Milli Re 1 FIAR 22nd May 2013

Continuous Growth of Milli Re Local99 % 98 % 96 % 86 % 80 % 78 % 76% Overseas1%1% 2%2% 4%4% 14 % 20 % 22 % 24% 2 Million USD Written Premium77,1153,5255,0537,0553,2578,3 Net Premium42,7100,6223,7470,1500,1520,2 Total Assets45,8137,1193,7737,61.048,7989,5 Liquid Assets5,133,953,0431,6567,7582,3 Paid-up Capital0,0111,622,0254,4339,6345,0 Shareholders’ Equity 0,318,661,8416,9516,6369,4 Foreign Portfolio Development

Key Financial Indicators 3 Shareholders’ Equity ( US $ mio) Profit/Loss for Period (US$ mio) Premium Income (US$ mio)

Key Financial Indicators 4 Financial Results (US$ mio) Change (%) Total Assets Shareholders’ Equity Technical Income Technical Profit/Loss(104)59- Financial Income4625(46) Financial Profit/Loss27(4)- Profit/Loss for the Period(77)55-

Foreign Portfolio Breakdown by Region 5

Rating The importance of a “rating” in the international reinsurance market is a well known fact. Our financial strength rating from A.M.BEST Rating Agency is “B+” (good). Our Turkish national scale rating from Standard & Poor's Ratings Services is “trAA+”. 6

Milli Re’s Approach to the CEE Advantages : 1. Good Technical Results 2. Potential For Growth 3. Mostly Working on XL Basis 4. Small EQ Exposure 5. Modelling 7

Milli Re’s Approach to the CEE Disadvantages : 1. Natural Perils ( Especially STFI ) 2. Underpricing 3. Markets Under the Influence of Big International Groups 4. Market Stagnation 8

Milli Re’s Approach to the CEE Vision for the Region : 1. Increase Business Volume with Already Existing Partners 2. Create New Partnerships 3. Diversify the Portfolio Branchwise 4. Geographical Spread 9

Milli Re’s Approach to the CEE Future of the Region: 1. Create More Ties and Partnership with Regional Reinsurers 2. Have a More Diversified Reinsurance Panel 3. Increase the Rates 10

Thank you ! 11