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Thursday October 30 th 2008

WHICH RISKS ARE DIRECTORS & OFFICERS FACING IN THE CURRENT ENVIRONMENT ?. Thursday October 30 th 2008. COLLAPSED. NATIONALISED. NATIONALISED. NATIONALISED. TAKEN OVER. NATIONALISED. TAKEN OVER. NATIONALISED. NATIONALISED. COLLAPSED. NATIONALISED. RESCUE PACKAGE. NATIONALISED.

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Thursday October 30 th 2008

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  1. WHICH RISKS ARE • DIRECTORS & OFFICERS • FACING IN THE • CURRENT ENVIRONMENT ? • Thursday October 30th 2008

  2. COLLAPSED NATIONALISED NATIONALISED NATIONALISED TAKEN OVER NATIONALISED TAKEN OVER NATIONALISED NATIONALISED COLLAPSED NATIONALISED RESCUE PACKAGE NATIONALISED TAKEN OVER RESCUE PACKAGE NATIONALISED

  3. DOW JONES INDUSTRIAL AVERAGE TRADING PERFORMANCE SEPTEMBER 2 – OCTOBER 23 12,500 9/15: Lehman files for bankruptcy / B of A purchases Merrill Lynch 9/22: Goldman Sachs and Morgan Stanley become commercial banks 10/3: House passes TARP; Dow drops 486 points 10/13 Governments worldwide pledge cash injections. Dow posts biggest gain in history 11,500 FTSE rises >300 points 10,500 9/16: AIG fails; Government takes 80% stake 9/29: Crisis goes global: Fortis and Hypo Real Estate bailed out by governments 10/15 Dow posts biggest one-day percentage drop since 1987 9,500 8,500 10/8 UK government announces £400B rescue package 10/22: Dow drops 515 points on global economic concerns 7,500

  4. US (DJIA) Brazil (BOVESPA) China (SHANHAI SE) Germany (DAX) India (SENSEX 30) Japan (NIKKEI) Russia (RTS) NL (AEX) UK (FTSE 100)

  5. REGULATION

  6. AGENDA • Assessing the D&O Risk from an Underwriters perspective Gerard van Loon – Liberty International Underwriters (LIU) Europe • The Ahold Experience • Michiel van den Bosch – Koninklijke Ahold N.V. • European style class actions and D&O activities in Europe • Hans Londonck Sluijk – Houthoff Buruma N.V. • D&O Market Conditions and Renewal Expectations for 2009 • David Purdy – Willis Ltd.

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