Corporate Profile April 2017

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Corporate Profile

Assetinsure Pty Ltd (ABN 65 066 463 803) is a general insurance company licensed by the Australian Prudential Regulation

Authority (APRA). This summary provides an overview of the company’s business model, shareholding structure and solvency.

Portfolio and Distribution

Assetinsure specialises in a number of different segments in the Australian insurance market using two different business and

distribution models. The model used depends on the characteristics and market requirements for each product.

• Where a strong credit rating is required Assetinsure acts as managing general agent for highly rated insurers, sourcing and underwriting the business and managing all claims. The interests of both parties are aligned as Assetinsure shares in carrying the risk through a reinsurance line. We refer to this business model as “partnership business”.

• In all other instances, business is underwritten on Assetinsure’s own paper. The business is often sourced through brokers or underwriting agencies.

These partnership arrangements have been instrumental in lifting Assetinsure’s profile in product areas where the broker or client

requires the insurer to have a strong credit rating.

The insurance products offered by or through Assetinsure include:

Partnership Business

• Surety

• Credit Enhancement

• PetroBonds

For Surety Assetinsure underwrites the business on behalf of Swiss Re International (a company in the Swiss Re Group), offering

AA-(S&P) rated paper to its clients.

For Credit Enhancement, Assetinsure underwrites the business on behalf of International Insurance Company of Hannover

SE (a company in the Hannover Re Group), offering AA-(S&P) rated paper to its clients.

For PetroBonds, Assetinsure underwrites the business for the whole of South East Asia on behalf of CBL Insurance (a subsidiary

of CBL Corporation) offering A-(AM Best) rated paper to its clients.

Insurance products provided directly by Assetinsure

• Ancillary Credit business

• Builders Warranty Insurance (Victoria)

• Owner Builders Warranty (AOBIS Underwriting Agency)

• Crop Asset – Agricultural Income Protection

• Personal Guarantor Insurance

• Enthusiast Motor (Enthusiast Underwriting Agency)

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Shareholding Structure

Assetinsure Holdings Pty Ltd, the holding company, owns 100% of the insurance carrier, Assetinsure Pty Ltd

(Assetinsure). The holding company does not carry out any insurance business but for administrative ease and flexibility, it employs

all staff. All issued shares are fully paid.

Assetinsure Holdings Pty Ltd is owned by the CBL Group. The ultimate parent is CBL Corporation which is listed on the New

Zealand and Australian Stock Exchange (since 13 October 2015). For more information about the group please visit:

www.cblcorporation.com.

Locally Licensed

Assetinsure is an APRA licensed insurer.

APRA’s mission is “to establish and enforce prudential standards and practices designed to ensure that, under all reasonable

circumstances, financial promises made by institutions that APRA supervise are met”.

As a locally licensed insurer, Assetinsure has to continuously comply with rigorous:

• Liability Valuation and Risk Management Standards

• Ongoing Reporting and Supervision Standards

• Capital Adequacy Requirements

APRA (Prudential Standards GPS 110) requires each licensed insurer to hold capital in excess of the Prudential Capital

Requirement (“PCR”). The PCR is determined using each insurer’s risk and financial profile. The PCR calculation requires that the

greater the risk an insurer accepts (e.g. less reinsurance protection or riskier investments) the more capital it must hold.

The PCR coverage ratio is an insurer’s capital divided by its PCR. A PCR coverage ratio of 2.0 means the capital the insurer holds

exceeds the PCR by 100%.

Using APRA’s capital measures, Assetinsure is well capitalised when compared to other market participants. The attached table

shows the latest available APRA PCR coverage ratios for a range of market participants.

Assetinsure is also backed by a comprehensive reinsurance programme supported by international and strongly capitalised

reinsurance companies providing a wide range of automatic capacities.

For further details please contact:

Gregor Pfitzer

Chief Executive Officer

Assetinsure Pty Ltd

Gregor.Pfitzer@assetinsure.com.au

Hamish Lilly

Chief Financial Officer

Assetinsure Pty Ltd

Hamish.Lilly@assetinsure.com.au

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Prudential Capital Requirement

PCR Coverage

The PCR coverage of companies in the Australian market has most recently been published by APRA as at 9 November 2016.

The PCR coverage measures the ratio of actual capital to PCR as defined in the Australian prudential standards. It is an impartial

and objective measure of a company’s regulatory solvency. The PCR of a group of licensed insurance companies is listed below.

Insurance Operations Balance Date PCR Coverage

AAI 30 June 2016 1.53

ACE 31 December 2015 1.77

Allianaz 31 December 2015 1.36

Assetinsure 31 December 2015 2.78

CGU 30 June 2016 1.56

Great Lakes 31 December 2015 1.58

Guild 30 June 2016 2.13

Hollard 30 June 2016 1.60

Inter Hannover 31 December 2015 2.33

Liberty 31 December 2015 2.61

QBE Australia 31 December 2015 1.64

Swiss Re International 31 December 2015 1.61

WR Berkley 31 December 2015 2.31

XL 31 December 2015 1.39

Youi 30 June 2016 2.50

Zunich 31 December 2015 1.41

Source: APRA General Insurance Company Level Statistics (issued 19 November 2016)