Investor Presentaiton

Ship losses over the years - declining • 1966 to 1985: more than 300 ships lost annually. • 1990: under 200; 2000: 167 lost. • 85 ships lost worldwide in 2015, down 3% year-on-year, according to Allianz Safety & Shipping Review 2016. Total Losses by Year a declining trend 200 171 154 149 150 129 125 95 100 Shipping losses declined by 3% compared with 2014. They have declined by 45% over the past decade. 123 112 88 85 50 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Source: Lloyd's List Intelligence Casualty Statistics. Data Analysis & Graphic: Allianz Global Corporate & Specialty

View entire presentation