1. UNITY RE
CORPORATE PROFILE 2011

2. 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

3. 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.

4. 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 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

5. 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 of
Since 2007, KPMG has been the official auditor of Unity Re for IFRS financials.

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

7. 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»

8. 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.

9. 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.

10. 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.

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

12. Market position 2010
Top-10 specialist reinsurers writing genuine reinsurance, 2010:
Rank
Company
GPW,
‘000 RUR 1
Unity Re 2
Moscow Re 3
Transsib Re 4
Kapital Re 5
Eastern Re 6
Russian Re 7
Munich Re Life CIS 8
Rosles Re 9
Megaruss Re 10
SCOR Reinsurance

13. Key financials, IFRS

14. Key financials, IFRS

15. 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

16. 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

17. www.unityre.com Contacts
125047, Russian Federation, Moscow, Gasheka st., 12
Tel.: Fax: