+---------------+---------------+-------------+-------------+-------------+-------------+--------------+-------------+---------------+ 
| Unearned      |            -  |          -  |          -  |          -  |           - |           -  |           - |             - | 
| element of    |               |             |             |             |             |              |             |               | 
| reserves at   |               |             |             |             |             |              |             |               | 
| 31 December   |               |             |             |             |             |              |             |               | 
| 2008          |               |             |             |             |             |              |             |               | 
+---------------+---------------+-------------+-------------+-------------+-------------+--------------+-------------+---------------+ 
| Earned        |      198,084  |     66,756  |     58,718  |     69,255  |    130,101  |     184,353  |    184,014  |      891,281  | 
| non-life      |               |             |             |             |             |              |             |               | 
| reserves      |               |             |             |             |             |              |             |               | 
| before effect |               |             |             |             |             |              |             |               | 
| of            |               |             |             |             |             |              |             |               | 
| discounting   |               |             |             |             |             |              |             |               | 
| as at 31      |               |             |             |             |             |              |             |               | 
| December 2008 |               |             |             |             |             |              |             |               | 
+---------------+---------------+-------------+-------------+-------------+-------------+--------------+-------------+---------------+ 
| Life and      |               |             |             |             |             |              |             |       348,989 | 
| finite        |               |             |             |             |             |              |             |               | 
| reserves as   |               |             |             |             |             |              |             |               | 
| at 31         |               |             |             |             |             |              |             |               | 
| December 2008 |               |             |             |             |             |              |             |               | 
+---------------+---------------+-------------+-------------+-------------+-------------+--------------+-------------+---------------+ 
| Claims        |               |             |             |             |             |              |             |         9,641 | 
| handling      |               |             |             |             |             |              |             |               | 
| provisions as |               |             |             |             |             |              |             |               | 
| at 31         |               |             |             |             |             |              |             |               | 
| December 2008 |               |             |             |             |             |              |             |               | 
+---------------+---------------+-------------+-------------+-------------+-------------+--------------+-------------+---------------+ 
| Present value of         |                                |             |             |              |             |     1,249,911 | 
| reserves before          |                                |             |             |              |             |               | 
| discount                 |                                |             |             |              |             |               | 
| recognised in the        |                                |             |             |              |             |               | 
| balance sheet as         |                                |             |             |              |             |               | 
| at 31 December           |                                |             |             |              |             |               | 
| 2008                     |                                |             |             |              |             |               | 
+---------------+----------+----+-------------+-------------+-------------+-------------+--------------+-------------+---------------+ 
 
Underwriting year table (continued) 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
|                    |          1999 |        2000 |        2001 |        2002 |        2003 |        2004 |        2005 |         Total | 
|                    |           and |             |             |             |             |             |             |               | 
|                    |         prior |             |             |             |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
|                    |         $'000 |       $'000 |       $'000 |       $'000 |       $'000 |       $'000 |       $'000 |         $'000 | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
|                    |               |             |             |             |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Reinsurance        |               |             |             |             |             |             |             |               | 
| recoverable        |               |             |             |             |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Estimate of cumulative             |             |             |             |             |             |             |               | 
| claims:                            |             |             |             |             |             |             |               | 
+------------------------------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
|                    |               |             |             |             |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| At end of          |      557,558  |     87,617  |    140,151  |    176,731  |    165,184  |    177,565  |    144,472  |               | 
| underwriting year  |               |             |             |             |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| One year later     |    1,544,260  |    163,700  |    173,153  |    196,084  |    184,701  |    145,792  |    132,953  |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Two years later    |    1,662,449  |    156,068  |    177,605  |    211,944  |    190,173  |    137,365  |     128,042 |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Three years later  |    1,646,776  |    149,374  |    152,152  |    212,974  |    182,641  |     147,960 |     129,399 |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Four years later   |    1,660,199  |    136,623  |    146,574  |    199,845  |     173,223 |     134,717 |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Five years later   |    1,684,626  |    130,220  |    157,163  |     181,349 |     167,985 |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Six years later    |    1,667,762  |    130,984  |     157,466 |     183,557 |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Seven years later  |     1,669,539 |     128,163 |     157,615 |             |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Eight years later  |     1,652,959 |     129,583 |             |             |             |             |             |               | 
+--------------------+---------------+-------------+-------------+-------------+-------------+-------------+-------------+---------------+ 
| Nine years later   |     1,646,197 |             |             |             |             |             |             |               | 

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