1. Russian reinsurance market: actual development & opportunities Dmitry GARMASH Deputy CEO, Ph.D., MBA Unity Re Ltd.

2. Insurance market dynamics, bln RUR 2012 direct GWP = 27 bln USD; 2012 reinsurance GWP = 1,4 bln USD

3. Inward reinsurance, bln RUR

4. Outward reinsurance, bln RUR

5. Market players

6. Business from outside Russia

7. Market players 20122011 Total reinsurance players114140 GWP > 3m USD5556 GWP > 16m USD29 (80% GWP)23 (68%) GWP > 33m USD11 (50%)6 (31%) Top 326%21% Top 1048%42% Top 4090%86% Share of genuine reinsurers25%

8. Top-10 reinsurers CompanyGWP 2012 ‘000 RUR GWP 2012 m USD 1Sogaz4 448 659148,3 2Ingosstrakh3 933 764131,1 3Kapital Insurance2 812 06893,7 4Unity Re1 548 22351,6 5Rosgosstrakh1 458 80448,6 6Moscow Re1 284 54342,8 7ACE Insurance Co.1 213 26840,4 8Kapital Re1 006 04833,5 9SCOR951 63831,7 10Kama Re706 66423,5

9. Top-10 genuine reinsurers CompanyGWP 2012 ‘000 RUR GWP 2012 USD 1Unity Re1 548 22351,6 2Moscow Re1 284 54342,8 3Kapital Re1 006 04833,5 4SCOR951 63831,7 5Kama Re706 66423,5 6Transsib Re700 83123,4 7Russian Re574 39419,1 8Rosles Re429 61614,3 9Profile Re214 77671,6 10Express Re83 0512,7

10. Average non-life markets growth CIS-wide – 25% Inward reinsurance market – 2012 is the 1 st year of growing! Complete move to the market oligopolistic structure: 3-4 genuine reinsurers + 7-8 direct insurance players in R/I Number of peers has been squeezed much after 2009 Market consolidation  significant quality & expertise upgrade No binding to a world insurance cycle locally! Still huge difference between Gross & Net capacity 10 Actual trends

11. Capacity available LOBsNet capacity m USD Gross capacity m USD Property501 500 Energy30500 CAR/EAR501 500 Marine hull30250 Aviation20500

12. Thanks! Unity Re Ltd. T:+7 495 956 6589 F:+7 495 956 6598 E:re@unityre.rure@unityre.ru W:www.unityre.ruwww.unityre.ru