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1 March 2014 CGU Insurance Limited

2 OUR HERITAGE The CGU story begins in London with a company called the Hand in Hand Fire & Life Insurance Society, founded at Tom s Coffee House 1861 A huge fire in London drives insurance premiums up so dramatically that merchants form their own company Commercial Union. It opens in Australia in 1865, and incorporates Hand in Hand in Commercial Union buys Swann Insurance, and two companies then come together: Commercial Union and General Accident, forming CGU 2001 CGU expands, acquiring Fortis Operations, taking on VACC, Fortis, AIM and AMEV Insurances. AIM & VACC merge into the Swann Brand IAG acquires CGU, NZI and Swann Insurance.

3 A Snapshot of CGU Insurance today One of Australia s largest intermediary-based general insurers writing $3.028billion GWP & 3,500 Employees. State offices located in Adelaide, Brisbane, Hobart, Melbourne, Perth and Sydney. Australia s largest regional and rural insurer. Australia s largest provider of Workers Compensation services.

4 CGU s value to IAG Contribution to 2013 results: Top Line - GWP $3.028b / $9.498b = 32% Bottom Line - Ins Result $470m / $1.428b = 33%

5 Account Service Team PROPERTY RISK ENGINEERING SIMON PALLAVICINI UNITED INDEPENDENT POOLS UNDERWRITING ANNA KIM CGU ACCOUNT MANAGER PETER WATTS CLAIMS LINDA COPLEY WILLIS AUSTRALIA LTD RELATIONSHIP NEIL BARNETT

6 Property Claims Team aligned to Underwriting Experienced and technical skilled team who understand customer needs through active engagement. Integral to the claims service is to establish pre-loss engagement and interaction between our claims management team, UIP and Willis. Interaction can take shape through claims workshops, site visits or informal regular meetings or more specific processes tailored to the needs of UIP. Documented claims protocol, procedures and service standards will apply on commencement of the program. Allocation of our dedicated claims service contact with CGU, UIP and Willis.

7 Property Risk Engineering aligned to Underwriting CGU compliments its insurance underwriting capabilities with professional risk engineering services. CGU has employed a highly technically skilled and experienced risk engineering team to deliver a high level of service to assist customers with the management of their property risk exposures. Our risk engineering program aims to assist UIP to further improve its property profile by identifying property and business interruption exposures that exist. CGU have proposed a property risk engineering program for the first 12 months, however this is to be tailored to meet the needs of UIP.

8 United Independent Pools CGU Team National Underwriting Manager, Property Shaun O Brien shaun.o Chief Executive Officer Peter Harmer Acting Chief Underwriting Officer Phuong Ly Account Manager Senior Underwriter Peter Watts National Manager Large & Complex Claims Mark Anthony Senior Complex Claims Specialist Linda Copley Underwriting Manager, G&RM Northern Region tba Manager, Risk Engineering Simon Pallavicini Senior Risk Engineer Northern Region Jason Chua Development Manager Northern Region Neil Barnett

9 Market Environment The Calm after the Storm 2011 worst ever year for International Catastrophe Losses Distribution of Insured Natural Catastrophes (2011) 2012 returned to average Catastrophe loss level of USD 65bn per annum H very low activity US Drought and Isaac H1 less than 1/3 of 10 year average H Storm Sandy : USD 20bn to USD 25bn loss (Source: RMS) 9

10 Loss Activity calmer than 2011 Reinsurers in better shape Market Environment 2013 so far a global perspective Overview Market Environment more capacity Prices generally flat but with adjustments for exposure and losses Clients & reinsurers blending model results and experience to develop Own View of Risk Stable programme retentions - clients seeking to limit volatility The Buyers Increasing limits growing portfolios and influence of new catastrophe model versions Strong focus on changing regulatory capital requirements The Reinsurers 10 Increased capacity available for all Catastrophe perils resulting in average over placements of around 15% Minimal impact of Superstorm Sandy, US Tornadoes and European Floods Limited influence of new reinsurers, but evidence of extra capacity

11 Global Catastrophe Losses H

12 2013 so far.. Key Global Facts & Figures Insured Catastrophe Losses 12 Economic Losses Largest Insured Losses (7 x billion dollar losses) Largest Economic Losses Insured Catastrophe losses approx. $20bn (10 year average approx. $25bn). Around 50% of natural disaster insured losses in the U.S.A. Around 24% of losses covered by insurance (10 year average around 28%). Catastrophe events in areas of low insurance penetration or peril-specific coverage. 1. Central Europe floods (May / June) = USD 5.3bn 2. U.S. severe weather outbreak (May 18-22) = USD 2.5bn 3. U.S. severe weather outbreak (March 18-20) = USD 1.25bn 4. U.S. severe weather outbreak (May 26-June 2) = USD 1.20bn 5. Australia floods (January) = USD 1.04bn 6. Canada floods (June) = USD 1.0bn 7. U.S. winter storm (early April) = USD 1.0bn 1. Central Europe floods (May / June) = USD 22bn 2. China earthquake (April 20) = USD 14bn 3. Brazil drought = USD 8.3bn 4. U.S. severe weather outbreak (May 18-22) = USD 4.5bn 5. China drought = USD 4.2bn

13 CGU Insurance Limited Claims March 2014

14 Overview Who we are What we do Our promise Our relationship with CMA The after hours process Our panel

15 Who we are CGU Business Claims Manages 350,000 claims a year and pays out around $1.6billion annually There are more than 800 people working in CGU Claims business across Australia

16 Property Claims Team aligned to Underwriting Mark Anthony National Mgr Large & Complex Claims VIC NSW Sheila Moore Snr Complex Claims Specialist Linda Copley Snr Complex Claims Specialist Rhys Anthony Snr Complex Claims Specialist Derek Britchford Snr Complex Claims Specialist Emily Micallef Snr Complex Claims Specialist Mark Britton Snr Complex Claims Specialist Alastair Hamilton Snr Complex Claims Specialist

17 What we do All claims from policies underwritten by Global & Risk Management All claims from the business teams > $250k All Construction and Engineering Claims

18 Our Promise Delivery Customer Certainty Each time we touch a claim we will focus on the end outcome. We will commit to Service rather than a Process. We will do what we say, when we say it. We will take personal responsibility for being Experts in our Role

19 Our After Hours Service Phone number Operates 24/7 Claim lodged on the phone & message generated to Loss Adjusters & Claims staff. Ossa Claims Services Emergency make safe. Leda Group Emergency Accomodation.

20 Our Panel National Network of Service Providers Loss Adjusters Crawfords Cunningham Lindsey Specialist Technical Adjusters

21 CGU Insurance Limited Risk Engineering March 2014

22 What to expect A call from CGU Risk Engineer (Jason Chua) in March 2014 Confirm date and time Confirm the site contact A calendar invite with the agenda letter will be ed to the site contact.

23 Sample Agenda Letter

24 Site visit Common risk exposures while on site Access to switch boards (no combustible storage) Cleanliness around gas/oil cookers Idle pallet storage

25 Site visit Common risk exposures while on site Flammable liquid storage Combustible storage in switch room Gas bottle storage

26 After the site visit... CGU 5 Star report will be sent out to the individual council representative Risk recommendation summary report will be sent out to each individual council for comments regarding the risk recommendations Time frame 30 business days 26

27 27 Questions?

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