1. THE CURRENT STAGE OF REINSURANCE DEVELOPMENT WITHIN FORMER-USSR TERRITORIES Dmitry GARMASH Deputy CEO Unity Re Ltd. AIIF | 4-5 July | 2012 | Baku

2. m EUR 2011 m EUR 2010Growth, % 1Russia29 59225 25317,18 2Ukraine1 2631 1499,85 3Kazakhstan87669126,88 4Belarus209318-34,36 5Azerbaijan18714628,19 6Georgia*111121-8,5 7Uzbekistan998122,78 8Moldova58539,7 9Turkmenistan464015,19 10Armenia4517161,56 11Tajikistan201625 12Kyrgyzstan*10743,35 Source: XPRIMM insurance report, 1/2012(6)* 3Q 2011 results Non-life insurance market development

3. Market players non-life Number 2011 1Russia495 2Ukraine381 3Kazakhstan38 4Belarus19 5Azerbaijan28 6Georgia15 7Uzbekistan38 8Moldova21 9Turkmenistan1 10Armenia9 11Tajikistan16 12Kyrgyzstan18

4. Outward reinsurance non-life Insurance GWP Non-life, m EU 2011 Outward R/I Non-life, m EUR 2011 1Russia29 5922 150 2Ukraine1 263535 3Kazakhstan876305 4Belarus2097 5Azerbaijan18733 6Georgia11118 7Uzbekistan9931 8Moldova5813 9Turkmenistan46- 10Armenia458 11Tajikistan20- 12Kyrgyzstan10-

5. Total non-life insurance premium 2011 ~33 billion EUR Average annual growth ~25% Total outward reinsurance 2011 ~3,1 billion EUR Just 2% of world reinsurance non-life premium Number of insurance players ~1 000 companies Split for classic/scheme insurance ~60/40 Absolute leading market – Russia Key market driving LOBs: motor + property + mandatory lines 5 Current market position

6. Market features No binding to international insurance cycle Descending pricing trend for 2000ths Stable and uniform group of international reinsurers Historically tight cooperation with Russian market Disproportional development of Fac and Treaty cover CAT-exposure but with underdeveloped modelling Differential legislative approach to market regulating

7. LOBPure international business, Million USD FSU interest, Million USD Property201 200 Energy15450 CAR/EAR20800 Marine Hull60150 Aviation hull50150 Domestic reinsurance capacity

8. Inward reinsurance GWP ‘000 RUR 2011 1Ingosstrakh3 301 962 2Sogaz2 712 672 3Unity Re1 281 649 4Kapital insurance1 229 881 5Moscow Re1 196 494 6Allianz958 706 7VTB Insurance914 943 8Kapital Re790 004 9Soglasie778 666 10Transsib Re739 997 FSU reinsurance leaders

9. S&PFitchS&PFitchAMBestMoody’s IngosstrakhBBB-GefestB+ Transsib ReB Unity ReBBB+ SCOR Perestrakhovanie ARussian Insurance Center B Belarus ReB- SogazBB+ / ruAA+B++ ACE InsuranceBBB- / AA+rusEurasiaBBB++ AlfastrakhovanieBB-LemmaB+ VTB InsuranceBBB-BelgosstrakhB- Moscow ReBBTransneftBBB- LexgarantBAmanat Insurance B Oil Insurance Co.B+Russian ReB+ International ratings

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