1. © Lloyd’s 1 © Lloyd’s 1 Lloyd’s Overview August 2014

2. © Lloyd’s2 Agenda History Market Structure Distribution & The London Market Financial Strength Financial Results Global Reach Vision 2025

3. © Lloyd’s 2012 ► Lloyd’s is a market, not a company ► We have a long history of risk taking, dating back to 1688 ► The Lloyd’s market insures complex and specialist risks ► London based international business ► Lloyd’s appetite for risk is tempered by 325 years of experience and a Performance Management Directorate that mandates responsible risk taking ► Regulated by the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) ► Products are distributed through brokers and coverholders Lloyd’s Key Characteristics

4. © Lloyd’s 2012 History

5. © Lloyd’s 2012 From Coffee House… First known reference to Edward Lloyd’s coffee house in Tower Street (London Gazette 18-21 February 1688)

6. © Lloyd’s 2012 …To every type of Insurance 1877 1911 1969 1906

7. © Lloyd’s PIPER ALPHA 1988 EXXON VALDEZ 1989 HURRICANES 1989 ASBESTOS 1980 s - 1990 s

8. © Lloyd’s 2012 …and an appetite for unusual risks requiring innovative solutions

9. © Lloyd’s 2012 9 9 The Lloyd’s market is known for its specialist expertise…

10. © Lloyd’s 2012 Market Structure

11. © Lloyd’s11 SEE: www.lloyds.com/directorieswww.lloyds.com/directories Thepolicyholder The brokers The coverholders Members Managing agents Syndicates Corporation of Lloyd’s How the Market Works

12. © Lloyd’s 2012 A DYNAMIC AND DIVERSE MARKETPLACE At December 31 st 2013, the Lloyd’s marketplace was home to 56 “live” managing agents that manage 91 syndicates

13. © Lloyd’s 2012 Syndication of Risk Syndicate Broker Lloyd’s Policy Mutualised Security Fitch Ratings AA- (very strong) Standard & Poor’s A+ (strong) A.M. Best A (excellent) Policyholder

14. © Lloyd’s 2012 Distribution & The London Market

15. © Lloyd’s 2012 A wide variety of insurers are within a stone’s throw of the Lloyd’s building

16. © Lloyd’s 2012 … as are many of the world’s leading brokers

17. © Lloyd’s 2012 Financial Strength

18. © Lloyd’s 2012 INDEPENDENTLY ASSESSED In the eyes of leading ratings agencies, Lloyd’s is viewed as enjoying robust capital reserves: Standard and Poor’s: ‘A+’ (strong) Fitch Ratings: ‘AA-’ (very strong) A.M. Best: ‘A’ (excellent) ` Lloyd’s Annual Report 2013 Lloyd’s Ratings

19. Figures correct as at December 2013 OUR CHAIN OF SECURITY LINK ONE: SYNDICATE ASSETS (US$70,287m) Before writing business, a syndicate must put up funds to cover their own share of claims These funds are the first port of call when paying policyholder claims

20. LINK TWO: MEMBERS’ FUNDS AT LLOYD’S (US$25,301m) Every member (corporate or individual) must provide sufficient capital to support their underwriting These funds are held in trust for the benefit of policyholders and used only if the syndicate assets have been exhausted Figures correct as at December 2013 OUR CHAIN OF SECURITY

21. LINK THREE: LLOYD’S CENTRAL FUND (US$5,309m) The Central Fund includes members’ annual contributions and funds issued by the Corporation of Lloyd’s If a syndicate has failed to meet its liabilities and the two previous links proved insufficient, the Central Fund can provide a final reserve to cover those outstanding liabilities Figures correct as at December 2013 OUR CHAIN OF SECURITY

22. © Lloyd’s 2012 Financial Results

23. © Lloyd’s 2012 Strong U/W Results US$ m20092010201120122013 Gross written premiums 35,376 £21,973 35,469 £22,592 36,389 £23,477 40,545 £25,000 $43,698 £26,106 Combined ratio 86.1% 93.3% 106.8% 91.1%86.8% Investment return 2,848 £1,769 1,975 £1,258 1,528 £955 2,084 £1,311 $1,406 £839 Result before tax 6,227 £3,868 3,446 £2,195 (800) (£516) 4,517 £2,771 $5,734 £3,205 Return on capital (pre-tax) % 23.9 12.1 (2.8) 14.816.2 Source: Lloyd’s Annual Report 2013. All figures as at 31 December 2013

24. © Lloyd’s 2012 Source: Lloyd’s 2013 Annual Results (March 2014) Claims in foreign currency translated at the exchange rate prevailing at the date of loss 2013 major claims Significantly below long term average

25. © Lloyd’s 2012 Global Reach

26. © Lloyd’s Europe (including UK) 33% Other Americas 8% Central Asia & Asia Pacific 12% Rest of the World 4% US (including Canada) 43% US & Canada 41% 2012 44% 2011 43% 2010 45% 2009 13% 2012 12% 2011 10% 2010 9 % 2009 Other Americas 8% 2012 8% 2011 7% 2010 6% 2009 Europe + UK 15% + 18% = 33% 2012 16% + 18% = 34% 2011 16% + 20% = 36% 2010 16% + 20% = 36% 2009 Sources: Lloyd’s Annual Reports (2008 – 2013): http://www.lloyds.com/Lloyds/Investor-Relationshttp://www.lloyds.com/Lloyds/Investor-Relations 2013 Lloyd’s Premiums by region

27. © Lloyd’s 1 1 1 1 2 2 2 2 3 3 3 3 3 3 3 3 1 1 1 1 1 4 4 4 3 3 3 3 2 4 Local underwriting with co-located syndicates (or via a Lloyd’s regulated entity); Country Manager with Market Development Role Europe 3 Country Manager with Market Development Role 2 Legal Representative for regulatory requirements 1 Legal Representative for minimum regulatory requirements TypeMarket Development ScopeTerritories Europe Austria, Denmark, Norway, Portugal, Lithuania Argentina, Belize, Chile Namibia, Zimbabwe, US Virgin Islands Cyprus, Greece, Israel, Malta, New Zealand, India South Africa, Australia, Hong Kong (SAR) Benelux, France, Germany, Ireland, Italy, Poland, Spain, Sweden, Switzerland Brazil China Japan Singapore North America www.lloyds.com/AMERICA 3 UK Canada, US Northeast, US Southeast, US Central & US West 2 2014 Lloyd’s Office Network 1

28. © Lloyd’s 2012 Vision 2025

29. © Lloyd’s 2012 29 2012: Prime Minister David Cameron, Lloyd’s Chairman John Nelson and Lloyd’s CEO Richard Ward launch Vision 2025, a strategy to ensure Lloyd’s becomes the major global hub for specialist insurance and reinsurance 21st century

30. © Lloyd’s 2012 ► Growing our premium income from established markets in line with their economic growth with greater growth in new markets. ► A more diversified capital base, with a greater contribution from high growth economies. ► A truly internationalized underwriting community. ► A broker market, utilizing brokers’ international networks. ► Powerful oversees hubs in certain major oversees markets. 2025 Lloyd’s Vision

31. © Lloyd’s The world’s leading specialist insurance market

32. Disclaimer This presentation has been produced by Lloyd's for general information purposes only. While care has been taken in gathering the data and preparing the presentation, Lloyd's does not make any representations or warranties as to its accuracy or completeness and expressly excludes to the maximum extent permitted by law all those that might otherwise be implied. Lloyd's accepts no responsibility or liability for any loss or damage of any nature occasioned to any person as a result of acting or refraining from acting as a result of, or in reliance on, any statement, fact, figure or expression of opinion or belief contained in this presentation. This presentation does not constitute advice of any kind. © Lloyd’s 2014 All rights reserved

33. © Lloyd’s