PitchSend

Investor Presentaiton

• • • Distribution ownership £418.6m of Brokerage (52% of largest 15 personal lines brokers) is now owned and controlled by Insurers Remainder of personal lines broking market still largely independently owned Commercial lines remains largely independent (but Axa acquired Stuart Alexander & Layton Blackham on 16 January 2007; combined GWP £200m) IAG Insurance Australia Group Swinton Insurer Owned EIBL/Hastings/ODIS Endsleigh RIAS Carole Nash Highway Retail Outright Non-Insurer Owned MMA AA IAG Zurich Fortis Groupama Highway Fortis Budget Kwik-Fit A Plan Group BDML Allen & Allen CVC/Pemira Capricorn/Mgt ΡΑΙ Independent Capita Independent 32 32 Source: Insurance Times Top 50 Brokers (July 2006)

View entire presentation