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Arig results 2010

Arab Insurance Group (BSC) consolidated results year ended 31 December ● US$m Category 2006 2007 2008 2009 2010 Gross written premium 160.4 198.6 219.7 229.2 207.0 Net written premium 144.5 184.0 208.5 221.0 179.4 Increased NWP % (2.9) 27.3 13.3 6.0 (18.8) Retention % 90.1 92.6 94.9 96.4 86.7 Net earned premium 140.2 163.4 191.5 211.9 199.8 Claims incurred 95.3 128.5 134.3 144.0 135.5 Claims incurred % NEP 67.9 78.6 70.1 67.9 67.8 Operating expenses 50.8 53.9 61.9 68.0 65.2 Operating expenses % NWP 35.1 29.3 29.7 30.8 36.3 Underwriting result (5.8) (19.0) (4.6) (0.1) (0.8) Underwriting result % NWP (4.0) (10.3) (2.2) 0.0 (0.5) Combined ratio % 103.0 107.9 99.8 98.7 104.1 Life GWP 5.9 51.3 61.0 50.2 32.5 Life NWP 5.8 51.2 60.7 49.7 32.5 Life result (0.3) 0.4 (3.1) (3.9) (4.5) Net investment income 26.1 31.7 24.1 18.4 15.4 Net realised gains/(losses) 16.0 17.0 (9.1) (8.6) 12.1 Pre-tax result 32.7 29.7 (33.3) 26.4 23.5 Pre-tax % NWP 22.6 16.1 (16.0) 11.9 13.1 Net result 30.4 23.7 (28.6) 21.9 20.8 Shareholders' funds 293.4 298.4 239.6 267.4 260.1 Solvency margin % 203.0 162.2 114.9 121.0 145.0 Unearned premium reserve 61.8 82.2 98.5 108.2 87.7 Outstanding claims reserve 295.5 319.1 342.4 378.8 379.0 Total technical provisions 357.3 401.3 440.9 486.9 466.7 Technical reserves as % NWP 247.2 218.1 211.5 220.3 260.1 Overall coverage as % NWP 450.2 380.3 326.4 341.2 405.1

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