About AM Best AM Best is the world’s largest agency specialising in the industry and insurance-linked securities. Best’s Credit Ratings are an essential tool for assessing an insurer’s financial strength, creditworthiness and ability to honour obligations to policyholders worldwide. yy Established in the U.S. in 1899 and pioneered the concept of financial strength ratings in 1906 yy Worldwide headquarters in , U.S.; regional centres in London and Amsterdam (serving Europe, Middle East and Africa), Hong Kong and Singapore (serving Asia-Pacific and Oceania) and Mexico City (serving Latin America); Representative office located in Dubai (serving MENA, South and CentralAsia) yy Full-service global ratings capabilities yy Over 3,600 ratings in more than 95 countries worldwide yy Extensive marketing and publishing capability to promote corporate ratings in local and international markets

Market Coverage Insurance-related companies operating in various markets, including: yy Property/casualty (non-life) insurers yy Life insurers and annuity writers yy Health insurers yy Reinsurers yy Mutual insurers and Protection and Indemnity (P&I) clubs yy Takaful, Retakaful and co-operative insurers yy Lloyd’s and its syndicates yy New company formations (“start-ups”) yy Alternative risk transfer (ART) vehicles (including captives, pools and risk-retention groups) yy Catastrophe bond issuers and other Insurance-Linked Securitisations (ILS)

Competitive Strengths yy Only international rating agency dedicated to the insurance industry yy World’s leading provider of insurer Financial Strength Ratings (FSRs) by company coverage yy Foremost rating coverage of the global reinsurance segment yy Leading position in international reinsurance hubs—including comprehensive coverage of Lloyd’s/London market, Bermuda, Zurich and Singapore yy Leading rating agency for (re)insurance in the emerging markets of MENA, South and Central Asia yy Leading rating agency for ART and captives coverage yy Key rating agency used by global broker security teams yy Data and research covering 16,000 (re)insurance companies worldwide yy Largest and most comprehensive insurance database providing unique insights by segment and line of business yy Published rating methodology on all key insurance industry segments

Research and News yy Publishers of frequent specialised reports on global insurance industry issues, including sector, company and geographic regional analysis. Extensive global insurance news delivery and resources

(Continued) regarding Best’s Credit Ratings, please visit www.ambest.com/ratings/notice.asp.visit please Ratings, Credit Best’s regarding disclosures and limitations For creditworthiness. relative obligation’s financial or issuer’s insurer’s, an regarding opinion independent forward-looking, a is (BCR) Rating ACredit Best’s evaluate ratingperformanceovertime. performance, businessprofileandenterpriseriskmanagement. AMBest alsoregularlypublishesImpairmentStudies,which A ratingby AM Bestisbasedonacomprehensiveevaluationofaninsurancecompany’s balancesheetstrength,operating Best’s CreditRatings:TheGlobalSymbolofFinancial Strength research forinsuranceagents,brokers,riskmanagers,bankers,executives,policyholdersandconsumers. Best’s CreditRatingsand relatedfinancialinformationprovidepowerfultoolsforinsurancedecisionmakingandmarket and Review publications ( professionals via AM Best’s Thousands ofinsuranceindustry The valueofaBest’s Credit Ratingisenhancedbymarketpenetration.Best’s CreditRatingsreach: Phone: +19084392200 Oldwick, NJ08858,U.S. 1 Ambest Road, Oldwick Global Headquarters The ratingsymbols A++, A+, A, A-, B++,B+areregisteredcerificationmarksof A.M.BestRatingServices,Inc. Note: Disusedfornon-insurersandsecurities. Translation of Issuer Credit Ratings Ratings Credit Issuer of Translation Best’s Credit Rating Scale Long-Term ICR Long-Term

Best’s Journal to Financial Strength Ratings Strength Financial to c ccc-, cc ccc+, ccc b- b b+, bb- bb+, bb bbb- bbb+, bbb a- a a+, aa, aa- aaa, aa+ ® , BestDay BestWeek ® ® , ). BestWire ® , FSR Best’s D C- C C+ C++ B- B B+ B++ A- A A+ A++ Phone: +31 20 308 5420 +31 308 20 Phone: Netherlands Amsterdam, 1081 LA 1212 Mahlerlaan Gustav House, NoMA Floor, 3rd Amsterdam Phone: +442076266264 London, EC4R9AB,U.K. 12 Arthur Street, 6th Floor, London ®

Contact usorvisitwww.ambest.com AM BestCreditRatingDefinitions

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BestMark Corporate Offices *Regulated bytheDFSA asaRepresentative Office Phone: +97143752780 PO Box506617,Dubai,UAE Currency House,DIFC Office 102, Tower 2, Dubai* Phone: +52551102 2720 México, D.F. 06600 Piso 23,Col.Juárez,Del.Cuauhtémoc Paseo delaReforma412, Mexico City providesarecognisablevisualsymbolofan

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to Best’s CreditRatings. professionals whohaveonlineaccess More than1,160,000registered A relative measure of creditworthiness creditworthiness of measure A relative An independentAn opinion of an Phone: +6563035000 Singapore 049909 #39-04 6 BatteryRoad, Singapore Phone: +85228273400 Wanchai, HongKong 18 HarbourRoad Suite 4004,CentralPlaza, Hong Kong

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