presentsXPRIMM Insurance

Report AGREGATED REGIONAL RESULTS COUNTRY RESULTS TRENDS COMPANIES RANKINGS MAJOR GROUPS

Country Statistics

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CEE & Turkey18 countriesAlbaniaBosniaBulgariaCroatiaCzech Rep.EstoniaHungaryKosovo TerritoryLatviaLithuaniaMacedonia (FYROM)MontenegroPolandRomaniaSerbiaSlovakiaSloveniaTurkey

Russia & CIS11 countriesRussiaUkraineBelarusRep. MoldovaKazakhstanKyrgyzstanTajikistanTurkmenistanUzbekistanArmeniaAzerbaijan

December 31st, 2010

Gross Written PremiumEUR 33.1 billion

2010/2009 7.40%2009/2008 -7.63%

2008/2007 9.31%

Paid ClaimsEUR 19.13 billion

-2.97%

Poland40.97%

Czech Republic18.80%

Hungary9.14%

Romania6%

Slovenia6.33%

Slovakia**6.24%

Croatia3.78%

Bulgaria2.22%

Serbia1.62%

Lithuania1.36%

Latvia0.8%

Estonia1.3%

other1.17%

The CEE markets – 2010 results

2008 – Hungary & Estonia – first markets hit by the crisis– massive drop on the life lines (mainly single premium

and Unit-Linked)

The CEE markets – the 3 years crisis history

1H2009– the downward trend covered the entire region– life and motor lines = main factors of the fall- the very small markets – still in possitive territory

The CEE markets – the 3 years crisis history

2009 – 1H2010– first signs of negative trend slowing down; first markets entering on the upward trail-againg, life segment is the driver factor

The CEE markets – the 3 years crisis history

2010- The “motor” dependent markets - delayed recovery - Austerity measures are drying out the small markets’ growth potential

The CEE markets – the 3 years crisis history

CountryOverall GWP Change

10/09Regional market share

2010 2009 2010 2009EUR m. EUR m. % % %

Albania 58.74 56.58 3.82 0.18 0.18 Bosnia and Herzegovina 178.53 173.15 3.11 0.54 0.56 Bulgaria 730.60 859.74 NA 2.21 2.79 Croatia 1,251.76 1,288.05 -2.82 3.78 4.18 Czech Republic 6,224.27 5,447.22 14.27 18.80 17.68 Estonia 425.54 366.81 16.01 1.29 1.19 Hungary 3,024.35 3,050.53 -0.86 9.14 9.90 Kosovo 71.20 67.80 5.01 0.22 0.22 Latvia 270.71 317.73 -14.80 0.82 1.03 Lithuania 449.46 446.60 0.64 1.36 1.45 Macedonia 105.37 101.06 4.27 0.32 0.33 Montenegro 61.92 64.22 -3.58 0.19 0.21 Poland 13,559.33 11,865.08 14.28 40.97 38.50 Romania 1,988.89 2,093.25 -4.99 6.01 6.79 Serbia 537.36 559.98 -4.04 1.62 1.82 Slovakia 2,066.67 1,985.38 4.09 6.24 6.44 Slovenia 2,094.34 2,074.32 0.97 6.33 6.73 CEE REGION 33,099.07 30,817.52 7.40 100.00 100.00 Note: For Bulgaria, all presented data are for January-November 2010

CEE 2010 – GWP evolution

Property insurance 5.3%

Country

OVERALL PROPERTY INSURANCE GWP

% in all GWP

Change 10/09

Regional market share Paid claims

Change 10/09

2010 2009 2010 2009 2010 2009

EUR m. EUR m. % % % EUR m. EUR m. %

Albania 7.63 5.91 12.98 29.08 0.21 0.17 0.97 0.66 47.67Bosnia and Herz. 20.59 20.11 11.53 2.37 0.56 0.57 NA NA NA Bulgaria 113.82 142.10 15.58 NA 3.08 4.05 26.59 20.60 NA Croatia 181.10 186.01 14.47 -2.64 4.90 5.30 91.92 105.79 -13.11Czech Republic 804.13 750.46 12.92 7.15 21.76 21.39 485.40 377.00 28.75Estonia 62.78 58.34 14.75 7.61 1.70 1.66 28.30 24.84 13.92Hungary 505.51 509.97 16.71 -0.87 13.68 14.53 322.67 193.71 66.57Latvia 42.15 45.42 15.57 -7.20 1.14 1.29 18.98 16.31 16.39Lithuania 60.44 64.47 13.45 -6.26 1.64 1.84 35.19 35.53 -0.97Macedonia 20.75 19.43 19.70 6.79 0.56 0.55 7.75 7.51 3.18Montenegro 6.95 6.41 11.23 8.47 0.19 0.18 NA NA NA Poland 1,041.62 859.24 7.68 21.23 28.19 24.49 760.00 408.60 86.00Romania 251.09 259.24 12.62 -3.14 6.80 7.39 86.41 75.09 15.06Serbia 118.97 126.27 22.14 -5.78 3.22 3.60 44.32 43.70 1.42Slovakia 225.66 227.41 10.92 -0.77 6.11 6.48 NA 66.02 NA Slovenia 231.49 228.32 11.05 1.39 6.27 6.51 135.22 181.14 -25.35CEE REGION 3,694.67 3,509.12 11.16 5.29 100.00 100.00 2,043.70 1,556.50 31.30Note: for Bosnia and Herzegovina and Slovakia (2010) are estimations

CEE 2010 – property insurance

CountryGWP Change

10/09Overall paid claims Claims Change

10/092010 2009% EUR m. EUR m. %

Albania 3.82 16.42 12.53 31.05Bosnia and Herzegovina 3.11 NA NA NABulgaria NA 363.81 394.40 NACroatia -2.82 594.72 653.42 -8.98Czech Republic 14.27 3,299.78 2,861.18 15.33Estonia 16.01 234.49 205.34 14.19Hungary -0.86 2,164.31 1,928.18 12.25Kosovo 5.01 26.60 18.80 41.49Latvia -14.80 157.97 218.94 -27.85Lithuania 0.64 270.91 306.99 -11.75Macedonia 4.27 48.59 48.42 0.34Montenegro -3.58 NA NA NAPoland 14.28 9,204.68 9,283.46 -0.85Romania -4.99 1,292.02 1,282.78 0.72Serbia -4.04 220.38 234.68 -6.09Slovakia 4.09 NA 1,034.12 NASlovenia 0.97 1,242.83 1,239.93 0.23CEE REGION 7.40 19,137.49 19,723.17 -2.97

Note: For Bulgaria, all presented data are for January-November 2010

CEE 2010 – Claims evolution

AL BiH HR CZ EE HU LV LT MK MN PL RO SRB SK SI CEE (5.00)

-

5.00

10.00

15.00

20.00

25.00

30.00

35.00

40.00

16.61

6.62

(2.31)

25.85

36.73

4.81

17.93

11.53

17.21

3.67

12.41

3.04

7.86 9.47

3.88

12.61

Life insurance 12.6%

CEE 2010 – life insurance

Albania 10.41 %Bosnia and Herzegovina 18.78 %Bulgaria 15.04 %Croatia 26.59 %Czech Republic 46.00 %Estonia 42.87 %Hungary 53.18 %Latvia 17.25 %Lithuania 34.77 %Macedonia 5.47 %Montenegro 13.53 %Poland 58.02 %Romania 19.54 %Serbia 16.55 %Slovakia 54.50 %Slovenia 31.32 %CEE REGION 46.77 %

CEE 2010 – weight of life insurance in countries portfolios

Motor insurance 0.14%AL BiH BG HR CZ EE HU LV LT MK MN PL RO SRB SK SI

-30.00

-25.00

-20.00

-15.00

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

AUTO CASCO RCA

CEE 2010 – motor insurance

Turkey

Business line2010 GWP

2009 GWP

NOMINAL EVOLUTION

(%)EUR m. EUR m. %

TOTAL MARKET 6,842.19 5,776.16 18.46 TOTAL LIFE 1,056.30 846.40 24.80 TOTAL NON-LIFE 5,785.90 4,929.75 17.37 Accident 289.77 251.02 15.44 Health 825.90 657.31 25.65 Marine 144.62 121.41 19.12 Overall property insurance 1,439.72 1,328.42 8.38

Fire and allied perils 958.75 894.32 7.20 Damages to property 480.97 434.10 10.80

Overall motor insurance 2,741.67 2,285.52 19.96 Motor Hull 1,509.23 1,240.72 21.64 MTPL 1,232.44 1,044.80 17.96

GTPL 158.65 117.02 35.58 Other non-life insurance 185.56 169.06 9.76

All insurance lines on positive trend

Market portfolio:Life ins.: 15%Non-life: 85%

• Motor: 40%• Property: 21%• Health: 12%• Other: 11%

The CIS markets – 2010 results

December 31st, 2010

Population 132.9 million

Gross Written PremiumEUR 3.6 billion

2010/2009 20.8%

Paid ClaimsEUR 861 million

Armenia 0.5%

Azerbaidjan 4.1 %Belarus 9.3%

Kaza-khstan 21.7 %

Kyrgyzs-tan 0.2%

Moldova 1.5% Tajik-

istan 0.4%

Turk-menistan

1.1%

Ukraine 59.0%

Uzbekistan 2.2%

The Russia & CIS markets – 2010 results

December 31st, 2010

Population 274.1 billion

Gross Written PremiumEUR 29.4 billion

2010/2009 15.3%

Paid ClaimsEUR 19.9 billion

Belarus 1.1% Kazakhstan 2.7%

Ukraine 7.3

%

Russia 87.7%

Other 7 countries 1.2%

Russia & CIS 2010 – GWP evolution

Nr. CountryGWP 2010 GWP 2009 GWP CHANGE

10/09

EUR m. EUR m. %1 Armenia 17.16 13.08 31.1 2 Azerbaidjan 147.34 142.02 3.7 3 Belarus 337.09 271.60 24.1 4 Kazakhstan 786.24 622.42 26.3 5 Kyrgyzstan 8.61 7.53 14.3 6 Moldova 55.78 52.38 6.5 7 Tajikistan 16.00 9.0 77.8 8 Turkmenistan 39.63 34.43 15.1 9 Ukraine 2,137.49 1,781.83 20.0 10 Uzbekistan 79.2 66.0 20.0

TOTAL CIS 3,624.5 3,000.3 20.8 11 Russia 25,812.30 22,540.70 14.5

TOTAL CIS & RUSSIA REGION 29,436.8 25,541.0 15.3

Positive aggregate results in all CIS countries

Russia & CIS 2010 – Ins. Density

Development perspectives

Russia

Kazakh

stan

Ukraine

Belarus

Azerbaid

jan

Moldova

Turkm

enista

n

Armen

ia

Uzbekista

n

Tajikis

tan

Kyrgyzs

tan -

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

200.0 182.8

49.1 46.6 35.1

17.1 15.5 6.6 5.5 2.9 2.2 1.6

EUR/capita

Project CoordinatorDaniela GHEŢUEditorial Director daniela.ghetu@mxp.ro

Coordinating EditorVlad BOLDIJAR vlad.boldijar@mxp.ro

Senior EditorsOleg DORONCEANUOlesea SERGHIESCUConsultantAndreea STATE

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