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State Unitary Enterprise “Belarusian National Reinsurance Organization”

State Unitary Enterprise “Belarusian National Reinsurance Organization”. WORKING WITH US YOU WORK WITH ENTIRE COUNTRY. FEATURES OF BELARUSIAN INSURANCE MARKET. BELARUSIAN NATIONAL REINSURANCE ORGANIZATION.

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State Unitary Enterprise “Belarusian National Reinsurance Organization”

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

  2. FEATURES OF BELARUSIAN INSURANCE MARKET BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Belarusian Insurance market participants as at October 1, 2010 are: 25 operating companies (21 of which perform non-life insurance, including 1 organization ─ reinsurance only, 4 ─ life insurance)and 4 insurance brokers. 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 October 1, 2010 made EUR 500,0 m. Achieving Success Together

  3. ORGANIZATION ESTABLISHMENT BELARUSIAN NATIONAL REINSURANCE ORGANIZATION State Unitary Enterprise “Belarusian National Reinsurance Organization” was established by the resolution of the Council of Ministers of the Republic of Belarus as of November 4, 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 August 25, 2006 No.530 “On Insurance Operations” and is subordinated to the Ministry of Finance. The founder of Belarusian National Reinsurance Organization is the Council of Ministers of the Republic of Belarus. As at October 1, 2010, the organization’s authorized fund and net worth made EUR 114,6 m and EUR 117,3 m respectively. Achieving Success Together

  4. PLACE AND ROLE on Belarusian Insurance Market BELARUSIAN NATIONAL REINSURANCE ORGANIIZATION • Legislation of the Republic of Belarus provides a number of actions aimed at regulation of reinsurance activity in the country: • Since 1 January 2010, transfer50% of the undertaken liabilities under each contract of voluntary non-life insurance, exceeding legislative standard of liability,to Belarusian National Reinsurance Organization; • 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 Belarusian National Reinsurance Organization tariff policy upon conclusion of large risksinsurance contracts, where liability exceeds stated by law amount of liability. Achieving Success Together

  5. STRATEGY BELARUSIAN NATIONAL REINSURANCE ORGANIZATION • Strategic goal: creation of an international reinsurance company, offering a full range of reinsurance services and providing its clientswith comprehensive protection according to international standards. • Activities to achieve the goal: • further development of cooperation with insurance companies of the Republic of Belarus, including acceptance of liability not requiring obligatory reinsurance; • development of cooperation with insurance and reinsurance companies in the CISand 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. Achieving Success Together

  6. CORE FIGURES BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

  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 BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

  10. PERFORMANCE for 9 months 2010Inwards Reinsurance Portfolio Lines of Business BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

  11. PERFORMANCE for 9 months 2010Inwards Reinsurance PortfolioClasses & Forms of Reinsurance BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

  12. INWARDS REINSURANCE TREATIES9 months 2010 BERLARUSIAN NATIONAL REINSURANCE ORGANIZATION Moscow Re (property, engineering risks) Ingosstrakh (property, engineering risks) Ingosstrakh (aviation hull, liability) M.S. Pritchard Esquire (catastrophe) AlfaInsurance (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 Draudimas UAB (liability) Achieving Success Together

  13. PERFORMANCE for 9 months 2010Outwards Reinsurance Portfolio Lines of Business BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

  14. PERFORMANCE for 9 months 2010Outwards Reinsurance PortfolioParticipants BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

  15. PERFORMANCE for 9 months 2010Outwards Reinsurance Portfolio Financial Strength Rating BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Achieving Success Together

  16. AVIATION RISKS BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Since 2007Belarusian National Reinsurance Organization has been providing aviation risks reinsurance, including risks of national air carriers:Belavia - Belarusian National Airline and Transaviaexport Cargo Airline. Sums insured under reinsurance contracts: Aviation hull – up toUSD 44,2 m Airline liability – USD 300 - 750 m National carriers’ air fleet: Boeing 737-500 (6 Aircraft), Boeing 737-300 (3 Aircraft), CRJ-100/200 LR (3 Aircraft), Тu-154 (4 Aircraft), Il-76 TD (6 Aircraft). Risks are placed on facultative quota share basis. Foreign placing broker – Willis Limited (UK) Retrocessionaires: Lloyd’s Syndicates (UK), Munich Re (Germany), Allianz Global Corporate&Specialty AG (Germany), Swiss Re Frankona Rückversicherung AG (Germany), AIG UK Ltd (UK), Aspen Insurance (UK), Liberty Mutual Insurance Europe Ltd (UK), Generali IARD (France),Aviabel S.A., Brussels (Belgium), Ingosstrakh (Russian Federation). Achieving Success Together

  17. “GREEN CARD” BELARUSIAN NATIONAL REINSURANCE ORGANIZATION Since 1 June 2007, the Republic of Belarus is a full member of the international “Green Card” system. 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 Re, QBE Insurance, Lloyd’s syndicates. Belarusian National Reinsurance Organization participates in reinsurance of “Green Card” Belarusian Certificates on the first and the second layers of treaty reinsurance. Estimated premium income of Belarusian insurance companies in 2010 under the “Green Card” Belarusian Certificates Insurance Contracts is EURO 15 300 000. Achieving Success Together

  18. REINSURANCE within TIR CONVENTION 1975 BELARUSIAN NATIONAL REINSURANCE ORGANIZATION 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. Achieving Success Together

  19. Property and Engineering RisksExcess of Loss Reinsurance BELARUSIAN NATIONAL REINSURANCE ORGANIZATION The limit of the treaty is USD 15m The Leader is SCOR The placing brokeris Société de Courtage Re Ltd Insurance Broker. The net retention is USD 1,5 m The coverage is provided on three layers: 1 layer – USD 2,0m in excess of USD1,5 m 2 layer – USD 5,0m in excess of USD 3,5 m 3 layer – USD 6,5 min 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. Achieving Success Together

  20. MAJOR LOSSES BELARUSIAN NATIONAL REINSURANCE ORGANIZATION “Trans Pacific" General Average - 30 January 2008 due to vessel grounding. The amount of Indemnity paid by 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 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 Belarusian National Reinsurance Organization – USD 156 698. Loss of cargo – August 31, 2009 in Paris Gudang Port (Malaysia).Belarusian National Reinsurance Organizationpaid USD 469 593,39 on loss of cargo of CJSC “Belarusian Potash Company”. Achieving Success Together

  21. MAXIMUM RETENTION LIMITS* BELARUSIAN NATIONAL REINSURANCE ORGANIZATION *Limits of liability on each and every contract may vary from the above-mentioned subject to risk exposure Achieving Success Together

  22. BELARUSIAN NUCLEAR INSURANCE POOL BELARUSIAN NATIONAL REINSURANCE ORGANIZATION • On 5 March 2009, under the guidance of 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. Achieving Success Together

  23. RATING BELARUSIAN NATIONAL REINSURANCE ORGANIZATION 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, 2010Standard & 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. Achieving Success Together

  24. BELARUSIAN NATIONAL REINSURANCE ORGANIZATION 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. FOREIGNCOMPANIES Russian Federation:Ingosstrakh, SOGAZ, Kapital Reinsurance, Moscow Reinsurance Company, AlfaInsurance and other companies. Other countries:Lloyd’ssyndicates (UK),Munich Re, Hannover Re (Germany), Amlin Corporate Insurance (UK),SCOR (France),Partner Re (Switzerland),Polish Re (Poland),Allianz Group, Vienna Insurance Group (Austria), CHARTIS (China), Korean Re (South Korea). 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 cooperateswith more than 70 companiesfrom 17 countries. Achieving Success Together

  25. CONTACT INFORMATION BELARUSIAN NATIONAL REINSURANCE ORGANIZATION STATE UNITARY ENTERPRISE “BELARUSIAN NATIONAL REINSURANCE ORGANIZATION” Minsk, Republic of Belarus 14, Chkalov St. 220039 E-mail: info@belarus-re.com Web: www.belarus-re.com Director General: tel./fax: (+375 17) 256 07 11 Reinsurance Division:tel.: (+375 17) 256 0411 fax: (+375 17) 256 05 77 Business Development, International Cooperation & Advertising Department: tel.: (+375 17) 256 06 38 Achieving Success Together

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