1. About Milli Re and Our Approach to the Region by Alexandre Bichot Deputy Head of Department Foreign Inward Business - Milli Re 1 AIIF 19th June 2014

2. Key Figures Concerning Milli Re 2 Million USD 198019902000200520102013 Written Premium77,1153,5255,0537,0553,2433,5 Net Premium42,7100,6223,7470,1500,1374,4 Total Assets45,8137,1193,7737,61.048,7865,5 Liquid Assets5,133,953,0431,6567,7515,8 Paid-up Capital0,0111,622,0254,4339,6288,2 Shareholders’ Equity 0,318,661,8416,9516,6328,9 Foreign Portfolio Development 2006200720082009201020112012 Local98 % 96 % 86 % 80 % 78 % 76% Overseas2%2% 4%4% 14 % 20 % 22 % 24% 2013 76 % 24 %

3. Key Financial Indicators (1) Shareholders’ Equity (US$ mio) Profit/Loss for Period (US$ mio) Premium Income (US$ mio) 3 2009 2010201120122013 2009 2010201120122013 2009 2010201120122013

4. Key Financial Indicators 4 Financial Results (US$ mio) 20122013 Total Assets990865 Shareholders’ Equity369329 Technical Income1.272988 Technical Profit/Loss595 Financial Income2521 Financial Profit/Loss(4)5 Profit/Loss for the Period5510

5. 5 Branchwise Breakdown of Total Premium Income in 2013

6. Portfolio Breakdown by Region 6

7. 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+”. 7

8. Milli Re’s Approach to the CAUCASUS Region Advantages : 1. Good Technical Results 2. Potential For Growth 3. Low Loss Frequency and Severity 4. Low Penetration Levels 8

9. Milli Re’s Approach to the CAUCASUS Disadvantages : 1. Natural Perils ( Majorly Earthquake) 2. Underpricing 3. Lack of Treaty Protection 4. Mostly Young and Inexperienced Markets 9

10. Milli Re’s Approach to the CAUCASUS Vision for the Region : 1. Increase Business Volume with Already Existing Partners 2. Create New Partnerships 3. Diversify the Portfolio Branchwise 4. Geographical Spread 10

11. Milli Re’s Approach to the CAUCASUS Future of the Region: 1. Create More Ties and Partnerships with Regional Reinsurers 2. Have a More Diversified Reinsurance Panel 3. Increase the Rates 4. Increase Treaty Protections ( especially concerning NatCat ) 11

12. Thank you ! 12