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Aldagi - P&C insurance business overview Key Segments Motor Motor own damage, motor third party liability insurance 40% Market size (2017) Aldagi market share (by earned premium gross) # of Clients GEL 74mln Corporate-1,180 Retail -22,062 Well-diversified business model Property CAR (2), Commercial property, Household Property, Machinery breakdowns insurance GEL 73mln 39% Corporate-954 Retail 21,857 Credit life Loan-linked life insurance GEL 29mln 30% Retail 3 channels Liability Financial risk, employer's liability, professional indemnity, GTPL(3), FFL(4), Household GTPL, Product liability insurance GEL 29mln 43% Corporate - 710 Retail - 540 Other Cargo, CPM(5), Livestock, BBB(6) D&O), Agro insurance GEL 21mln 28% Corporate-233 Retail 13,165 Financials 1Q18 Underwriting profit, net Earned premiums, gross Net profit GEL 3.9 mln GEL 7.6 mln GEL 19.95 սյա Combined ratio: 72% 2014-2017 CAGR 19% GEL 7.4mln 2014-2017 CAGR 3% 2014-2017 CAGR 2% 19% 0% 7% 10% 2014-2017 CAGR 34% 2014-2017 CAGR 26% 2014-2017 CAGR 52% 43% 57% GEL 5.2mln 81% GEL 2.5mln 2014-2017 CAGR 16% 2014-2017 0% CAGR 27% 48% 52% 50% 50% GEL 1.9mln GEL 1.4mln 2014-2017 7% 2014-2017 CAGR 4% CAGR 19% GEL 1.8mln 2014-2017 CAGR 31% 0% 25% 75% GEL 0.5mln GEL 0.6mln GEL 1.3mln 93% Corporate-84% Retail - 97% Corporate - 88% Retail -56% (1) Sources: Insurance State Supervision Service of Georgia (2) CAR: Contractors' all risks insurance (3) GTPL: General third party liability insurance (4) FFL: Freight Forwarders' liability (5) CPM: Contractor's Plant And Machinery insurance (6) BBB: Bankers blanket bond insurance (7) D&O: Directors and officers liability Insurance Retail - 45% Corporate Retail 100% GEL 2.6mln 93% GEL 2.3mln 8% 2014-2017 CAGR 29% 2014-2017 CAGR 39% 33% 100% GEL 1.3mln 92% GEL 1.1mln 2014-2017 CAGR 41% 12% 2014-2017 CAGR 60% 21% 100% GEL 0.8mln 88% GEL 0.7mln Corporate - 44% Retail -47% 79% Corporate - 43% Retail -28% 90% 67% Page 52 GEORGIA CAPITAL

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