1. State Unitary Enterprise “Belarusian National Reinsurance Organization” WORKING WITH US YOU WORK WITH ENTIRE COUNTRY

2. FEATURES OF BELARUSIAN INSURANCE MARKET Belarusian Insurance market participants as of July 1, 2010 are: 24 operating companies (20 of which perform non- life insurance, including 1 organization ─ reinsurance only, 4 ─ life insurance) and 4 insurance brokers. BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together There are four state-owned companies in the market (BELGOSSTRAKH, BELARUSIAN NATIONAL REINSURANCE ORGANIZATION, EXIMGARANT OF BELARUS, STRAVITA) and four companies have effective state participation of more than 50% (BELKOOPSTRAKH, BELNEFTESTRAKH, PROMTRANSINVEST,TASK). The total net worth of Belarusian insurance companies as at July 1, 2010 made EUR 650,0 m.

3. ORGANIZATION ESTABLISHMENT The founder of Belarusian National Reinsurance Organization is the Council of Ministers of the Republic of Belarus. As of July 1, 2010, the organization’s authorized fund and net worth made EUR 127,3 m and EUR 129,5 m respectively. BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together State Unitary Enterprise “Belarusian National Reinsurance Organization” was established by the resolution of the Council of Ministers of the Republic of Belarus as of 4 November 2006 No.1463 “On Establishment of Belarusian National Reinsurance Organization” in accordance with the Decree of President of the Republic of Belarus dated as of 25 August 2006 No.530 “On Insurance Operations” and is subordinated to the Ministry of Finance.

4. PLACE AND ROLE on Belarusian Insurance Market BELARUSIAN NATIONAL REINSURANCE ORGANIIZATION Achieving Success Together Legislation of the Republic of Belarus provides a number of actions aimed at regulation of reinsurance activity in the country: Since 1 January 2010, transfer 50% of the undertaken liabilities under each contract of voluntary non-life insurance, exceeding legislative standard of liability, to SUE “Belarusian National Reinsurance Organization”; SUE “Belarusian National Reinsurance Organization” is the sole company which cooperates with foreign insurance and reinsurance organizations on placing risks insured on the territory of the Republic of Belarus; The implementation of coordinated with SUE “Belarusian National Reinsurance Organization” tariff policy upon conclusion of large risks insurance contracts, where liability exceeds stated by law amount of liability.

5. STRATEGY BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together Strategic goal: creation of an international reinsurance company, offering a full range of reinsurance services and providing its clients with comprehensive protection according to international standards. Activities to achieve the goal: further development of cooperation with insurance companies of the Republic of Belarus, including assumption of risk not requiring obligatory reinsurance; development of cooperation with insurance and reinsurance companies in the CIS and Western Europe market; improvement of the organizational structure, as well as implementation of advanced technologies and methods in the field of Underwriting; implementation of effective investment policy; creation of favourable conditions for professional growth and creativity of employees.

6. CORE FIGURES BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together POSITION2007 2008 20092010 6 months Number of contracts 2 0474 5034 7411 988 Premium written, EUR ‘000 1 886,97 682,812 513,310 392 Premium received, EUR ‘000 1 074,97 239,111 075,57 083,8 Premium ceded, EUR ‘000 296,14 000,96 920,13 298,6 Payments, EUR ‘000 376,41 854,72 576,51 168,6 Liability accepted, EUR ‘000 000 1 997,69 307,317 984,112 750,4 Actuarial reserves, EUR ‘000 458,51 345,11 578,13 769,6 Authorized fund, EUR ‘000 17 254,9110 042,6112 245,5127 307,1 Net worth, EUR ‘000 18 200,0111 325,5114 966,8129 560,0 Net profit, EUR ‘000 974,71 329,82 712,51 651,5

7. Number of Contracts BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

8. Reinsurance Premium BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

9. Amount of Liability Achieving Success Together BELARUSIAN NATIONAL REINSURANCE ORGANIZATION

10. PERFORMANCE for 6 months 2010 Inwards Reinsurance Portfolio Lines of Business BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

11. BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together PERFORMANCE for 6months 2010 Inwards Reinsurance Portfolio Classes & Forms of Reinsurance

12. INWARDS REINSURANCE TREATIES 6 months 2010 BERLARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together Moscow Re (property, engineering risks) Ingosstrakh (property, engineering risks) Ingosstrakh (aviation hull, liability) M.S. Pritchard Esquire (catastrophe) Alfa Strakhovanie (aviation hull, liability) Transsib Re (liability, accidents) Nakhodka Re (property, engineering risks) Kapital Insurance (aviation hull, liability) Kapital Reinsurance, Kapital Insurance (property, engineering risks) Unity Re (property, engineering risks) BTA AAS Latvia (liability) BTA Sraudimas UAB (liability)

13. PERFORMANCE for 6 months 2010 Outwards Reinsurance Portfolio Lines of Business BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

14. PERFORMANCE for 6 months 2010 Outwards Reinsurance Portfolio Participants BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

15. PERFORMANCE for 2009 Outwards Reinsurance Portfolio Financial Strength Rating BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

16. “GREEN CARD” BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together Since 1 June 2007, the Republic of Belarus is a full member of the international “Green Card” system. SUE “Belarusian National Reinsurance Organization” places in reinsurance “Green Card” Belarusian Certificates since 2008. Since 2010, net retention of the national insurance market under the “Green Card” Belarusian Certificates Reinsurance Contract has been increased from EURO 260 000 to 500 000. The Leading Reinsurer of “Green Card” Belarusian Certificates is Partner Re with the cooperation of such companies as Munich Re, Hannover Re, SCOR, Polish Re, Sava Re, Aspen Insurance UK, Everest Reinsurance, QBE Insurance, Lloyd’s syndicates. SUE “Belarusian National Reinsurance Organization” participates in reinsurance of “Green Card” Belarusian Certificates on the first and the second layers of the reinsurance treaty. Estimated premium income of Belarusian insurance companies in 2010 under the “Green Card” Belarusian Certificates Insurance Contracts is EURO 15 300 000.

17. REINSURANCE within TIR CONVENTION 1975 BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together Quota Share Reinsurance and Retrocession Contract was concluded under which State Unitary Enterprise “Belarusian National Reinsurance Organization” reinsures 65% of liability, having 15% of net retention and placing via broker company R.L. Davison & Co Ltd. 50% in Lloyd’s syndicates.

18. Property and Engineering Risks Excess of Loss Reinsurance BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together The limit of the treaty is USD 15 m The Leader is SCOR The placing broker is “Insurance Broker Société de Courtage Re” Ltd.” The net retention is USD 1,5 m The coverage is provided on three layers: 1 layer – USD 2,0 m in excess of USD 1,5 m 2 layer – USD 5 m in excess of USD 3,5 m 3 layer – USD 6,5 m in excess of USD 8,5 m The territorial scope is the Republic of Belarus and Belarusian interests abroad, other areas under Leader’s special acceptance.

19. MAJOR LOSSES BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together “Trans Pacific" General Average - 30 January 2008 due to vessel grounding. The amount of Indemnity paid by SUE “Belarusian National Reinsurance Organization” – USD 245 376. Total loss of CRJ-100LR Aircraft while taking off – 14 February 2008 in Zvarnots airport, Armenia. The amount of Indemnity paid by SUE “Belarusian National Reinsurance Organization” – USD 1 960 000. Oil-Products pipeline breaking “Unecha-Rovno”– 14 February 2008 There occurred leakage of the oil product, that got in flood-plain basin of the river Dnieper. The damage to the environment was caused.The amount of Indemnity paid by SUE “Belarusian National Reinsurance Organization” – USD 156 698. SUE “Belarusian National Reinsurance Organization” paid USD 469 593,39 on loss of cargo of CJSC “Belarusian Potash Company”. The insured event occurred August 31, 2009 in Paris Gudang Port (Malaysia).

20. MAXIMUM RETENTION LIMITS* Class of Business Facultative reinsurance, Gross retention, USD, up to Treaty reinsurance, Gross retention, USD, up to Property Commercial Property 1 500 0002 000 000 CAR/EAR 1 500 0002 000 000 CAR/EAR Third Party Liability** 1 500 0002 000 000 Third Party Liability of Hazardous Oganizations 1 500 000 Aviation, Marine and Cargo Aviation Hull 1 000 000500 000 Aviation Liability5 000 000 Marine Hull1 000 000500 000 Marine Liability4 000 000500 000 Cargo2 000 000 BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together *Limits of liability on each and every contract may vary from the above-mentioned subject to risk exposure ** Accepted for retention together with property and engineering risks Class of Business Facultative reinsurance, Gross retention, USD, up to Treaty reinsurance, Gross retention, USD, up to Motor Transport Motor (per each vehicle) Hull300 000 TPL (“Green Card”)-1 000 000 Accident Reinsurance Accident Insurance (per each insured)50 000 Civil Liability of hazardous organizations1 500 000 for injury to third parties5 000 000 for products600 000 of forwarder and carrier500 000

21. BELARUSIAN NUCLEAR INSURANCE POOL On 5 March 2009, under the guidance of SUE “Belarusian National Reinsurance Organization” there was created Belarusian Nuclear Insurance Pool, the aim of which is the insurance of risks in relation to engineering, construction and operation of NPP, as well as reinsurance of Belarusian and foreign nuclear risks. Participants of Belarusian Nuclear Insurance Pool are 6 companies and out of these 2 – state companies (Belgosstrakh, Eximgarant of Belarus), 4 – with state participation of more than 50% (Belkoopsrakh, Belneftestrakh, PromtransInvest, TASK). The Leader is Belgosstrakh. Belarus Re provides reinsurance protection. By now there have been concluded reinsurance contracts with Ukrainian Nuclear Insurance Pool on risks of NAEC ENERGOATOM, and with Russian Nuclear Insurance Pool on risks of OJSC Energoatom Concern. BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

22. RATING BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together In August 2007, an international rating agency Standard & Poor’s assigned long-term credit rating in foreign currency to the Republic of Belarus which is “B+”. In January 2009, this rating was confirmed. Standard & Poor’s also emphasizes the economy of the Republic of Belarus is one of the wealthiest and most developed among countries of the B+ category. On April 23, 2010 Standard & Poor’s Rating Services assigned its “BB-” counterparty credit and financial strength ratings to Belarusian National Reinsurance Organization (Belarus Re). The outlook – Negative. The ratings reflect Standards & Poor’s view of Belarus Re’s adequate capitalization, competitive advantages on Belarusian reinsurance market and high probability of extraordinary government support in the event of financial distress.

23. OUR PARTNERS The Republic of Belarus Belgosstrakh, PromTransInvest, Eximgarant of Belarus, Belneftestrakh, TASK, Belkoopstrakh, B&B Insurance Co, Belvneshstrakh, Belingostrakh, Belrosstrakh, Victoria, Garantia, Generali, Delta Insurance, KENTAVR, Kupala, BAGACH, ZEPTER INSURANCE, ERGO. FOREIGN COMPANIES Russian Federation: Ingosstrakh, SOGAZ, Kapital Reinsurance, Moscow Reinsurance Company and other companies. Other countries: Lloyd’s syndicates (UK), Munich Re, Hannover Re (Germany), Amlin Corporate Insurance (UK), SCOR (France), Partner Re (Switzerland), Polish Re (Poland), Allianz Group, Vienna Insurance Group (Austria), Eurasia (Kazakhstan), CHARTIS (China). Broker companies: Willis Limited (UK), R.L.Davison & Co Ltd (UK), Filhet- Allard Maritime (France), MALAKUT (Russia), “MARSH” – insurance brokers (Russia) and other companies. Belarus Re cooperates with more than 70 companies from 17 countries. Achieving Success Together BELARUSIAN NATIONAL REINSURANCE ORGANIZATION

24. CONTACT INFORMATION BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together STATE UNITARY ENTERPRISE “BELARUSIAN NATIONAL REINSURANCE ORGANIZATION” Minsk, Republic of Belarus 14, Chkalov St. 220039 E-mail: info@belarus-re.cominfo@belarus-re.com Web: www.belarus-re.com Director General:tel./fax:(+375 17) 256 07 11 Reinsurance Division: tel.:(+375 17) 256 04 11 fax:(+375 17) 256 05 77 Business Development, International Cooperation & Advertising Department: tel.:(+375 17) 256 06 38