1. Customer Expectation & Satisfaction Istanbul, May 25th 2011 Lutz Bauer

2. Some Statements to the Market

3. 3 Market is dependent on commercial business and compulsory retail insurances * Source TSRSB Reports. Retail & Commercial shares are not official results. Calculated by adding commercial and retail dominant branches whenever official shares are not available. Commercial 58% Retail 42% 13% of total GWP is generated by banks which mostly sell credit linked insurance products. This type of products can be considered as semi mandatory as the customer has to buy insurance to get a loan. Share of Commercial segment is high and retail GWP production in 2010 was only 4.8 b TRY Within the retail segment excluding compulsory lines and credit linked insurances such as credit payment protection, PA and Casco to some extent, voluntary retail GWP would be a mere 2.5 b TRY. 2% 7% 8% 10% Credit Payment TCIP MTPL Casco Other Fire PA Health 2010 Retail GWP / LoB2010 GWP per Segment2010 GWP Development Bank 13% Agency 69% Broker 10% Other 7%

4. 4 The income level in Turkey overall is still low to boost retail market Mexico 0,9% 2,4% Turkey 1,2% Poland 1,1%1,2% 24,7% 1,1% Hungary 1,1% United KingdomUnited KingdomUnited Kingdom 0,5% 2,6% 8,4% Czech RepublicCzech RepublicCzech Republic 9,7% 15,8% Switzerland 13,2% 5,9% Germany 7,6% 13,0% OECD - Total Premium per Capita / GDP (2007) Premium per Capita / GDP (2000) +20 points +1400 points +1500 points 0,9% +1200 points Poland +400 points 1,1% 0,5% 1,1% MexicoTurkey 2,6% Hungary 2,4% 1,2% 2,6% Czech Republic 1,2% 1,1% Developing Markets * Source: OECD

5. 5 Customer expectations Who is the customer? On average still low income However wide ranges Rural – urban By education and profession Fundamental acknowledgement of insurance Between exchange of money: claims for premiums And vital risk protection Deductibles and under-insurance

6. 6 Insurance is about to protect the worst case – isn’t it? Value: 30’ – 50’ 000 TL Insurance full cover, no deductible Value: 500’ – 1’000’ TL? Loss of income life-long, Increased cost to sustain life as good as possible No insurance

7. 7 Where Can We Make The Difference ? Cover Terms and conditions In- and exclusions Sum insured and deductibles  Services  Risk-consultancy before sales and renewals  Premium collection and addendums  Claims  Assistance Current play high level already Less touched ground

8. 8 The Accident: Make Insurance an Experience and not money onlyGive perfect service -

9. 9 Who is going to develop the retail market? The sector is in charge! From fast transactional business To advice and consultancy, Explain and cover risk

10. 10 Summary  Income levels are on an early stage still now  Mandatory / obligatory insurance prevails  Customer expectations are low – get money back!  The sector has to explain the value of insurance Retail only!