Company Presentation

Infrassure Company Presentation2

Outline

• Underwriter principles

• Portfolio diversification

• Reference projects

Solid risk protection

Business focus • Lines of business

• Industries

• Geographical markets

• Construction and operation

Infrassure • Group structure and milestones

• Value proposition

• Focus and sectors

• Financial highlights

• Engineering experience

• Customer service

Infrassure Company Presentation3

Group structure

Milestones

Infrassure completes five years of independent operation. Infrassure issues a perpetual EURO 15 million note in November 2007.

Infrassure is approved as a surplus lines insurer in the United States of America.

Infrassure obtains authorization to operate as an occasional reinsurer in Brazil.

Infrassure Holding AG

Infrassure Ltd.Switzerland

Infrassure Ltd.Fürstentum Liechtenstein

Infrassure obtains a Financial Strength Rating of A- by A. M. Best.

Swiss Insurance Investors Group establishes a sister insurance company in Liechtenstein to gain direct access to the markets of the European Union.

The company approaches new capital resources by participating with a 30 year EUR 16m note in a EUR 300m CDO (Collateralized Debt Obligation).

Swiss Insurance Investors Group acquires 100% of the shares of Alstom Power.

ABB Power Insurance is founded as a captive insurance company to provide insurance for gas turbine and combined cycle power plants.

1996 2003 2004 2005 2006 2007 2008 2010

Infrassure Company Presentation4

Value Proposition

Solid Risk Protection

Risk selection

Engineering and insurance expertise

Focus &discipline

Infrassure provides reliable risk protection for infrastructure and industrial projects and installations.

Our clients profit from solid risk protection because of:

• Infrassure’s clear business focus on technical lines of insurance,

• Infrassure’s combination of extensive insurance and engineering expertise.

Infrassure Company Presentation5

Infrassure focus on selected risks within four sectors

Oil, Gas & Petrochemicals

Power

Civil Construction, Metals & Mining

Process, Electronics & Telecommunication

• Entire spectrum of upstream and downstream activities from oil and gas networks to global energy packages

• Well construction, encompassing COW, drilling rigs and subsea completions

• All major power generation and transmission technologies

• Gas turbine, steam turbine, hydroelectric

• Nuclear, Solar, Wind

• Major metal producers and mining companies throughout the world

• Global infrastructure projects such as tunnels, bridges, harbors, motorways, airports and railways

• Major chemical companies

• Several large scale pulp & paper producers

• Leading global semiconductor and telecom providers and the pharmaceutical industry

Infrassure Company Presentation6

Financial highlights

Net premium written Assets & Liabilities

Total net claims paidEmployees

CHF mio CHF mio

CHF mioat Dec.

50

100

150

200

0

2009 2010 2011

150

0

300

450

600

Assets

2009 2010 2011

Liabilities EQ & Surplus

0

50

100

2009 2010 2011

0

50

100

2009 2010 2011

84

182.0195.1

163.2

595.5 583.4 594.3

398.2 383.1 409.1

197.4 200.3 185.2

93105

84.4 77.0

94.3

Infrassure Company Presentation7

Underwriters have predominantly obtained academic and professional credentials in Chemical, Civil, Electrical and Mechanical engineering and other relevant technical disciplines.

The underwriting team members have cooperated in a substantial number of engineering projects, for example:

• Tunnel and risk projects

• Oil & gas projects in various geographical areas

• Commissioning, operation & maintenance of large scale power projects

• Deployment and support of wide-area networks

Years of engineering experience

Engineering faculties

prior to joining Infrassure

2-5

5-10

10-15

15-20

> 20

Mechanical

Chemical

Electrical

Civil

Other

32%

27%

11%

15% 15%

13%

19%

25%

13%

31%

Our underwriters

Infrassure Company Presentation8

Customer service

Infrassure’s business procedure is built on a sequence of interdependent steps. The underwriting and claims handling is managed by an Underwriting Claims Manager and Director (UCM/UCD). They are the point of contact between Infrassure and the client.

This provides the UCM and UCD with indepth knowledge of the entire client relationship as well as a unique opportunity to enhance the underwriting knowledge with experience gained from the actual claims handling process.

Client UCM& UCD

Underwritinganalysis

Policyadministration

Clientrelationship Insurance

solutionstructuring

Claimshandling Risk

surveys

Infrassure business procedure

Business focus

Infrassure Company Presentation10

Lines of Business (I)

Meet customers needs throughout the entire life cycle of:

• Infrastructure and industry projects

• Operational business

Design,Engineering,Manufacturing

Loading,Transportation

Unloading,Storage

Construction,Erection

Testing,Commissioning

Construction All Risks

Erection All Risks

Third Party Liability

Delay in Start-Up

Marine Cargo

Marine Delay in Start-Up

InfrassureInsurancePolicies

Infrassure Company Presentation11

Lines of Business (II)

Testing,Commissioning

CommercialOperation

Industrial All Risks (Property and Machinery Breakdown & Business Interruption)

Marine Energy Package (COW)

InfrassureInsurancePolicies

PAC

Meet customers needs throughout the entire life cycle of:

• infrastructure and industry projects

• operational business

Infrassure Company Presentation12

Industries

Infrassure provides services for a wide range of industries that we group into four sectors:

Net premium written in millions CHF

Civil Construction,

Metals & Mining

Oil, Gas &

Petrochemicals

Process, Electronics

& Telecommunication

Power

0

50

100

150

200

201120102009

31.9

163.1

57.5

35.0

38.7

(20%)

(35%)

(21%)

(24%)

35.2

195.1

76.1

36.9

46.9

(18%)

(39%)

(19%)

(24%)

34.0

182.0

49.1

42.6

56.3

(19%)

(27%)

(23%)

(31%)

Infrassure Company Presentation13

Geographical Markets

Infrassure serves its chosen industries worldwide:

0

50

100

150

200

201120102009

Africa, Middle East

Asia, Australia

Central &

South America

Europe

North America

Net premium written in millions CHF

40.9

163.1

32.7

30.0

10.6

(25%)

48.8 (30%)

(20%)

(18%)

(7%)42.2

195.1

51.3

36.3

13.8

(22%)

51.5 (26%)

(26%)

(19%)

(7%)

32.2

182.0

43.9

32.0

23.1

(18%)

50.8 (28%)

(24%)

(17%)

(13%)

Infrassure Company Presentation14

Construction and Operation

Infrassure provides insurance policies for projects in both the construction and operation phases:

0

50

100

150

200

201120102009

Net premium written in millions CHF

115.5

163.1

47.6

(71%)

(29%)

135.6

182.0

46.4

(74%)

(26%)

133.5

195.1

61.6

(68%)

(32%)

Construction

Operation

Solid risk protection

Infrassure Company Presentation16

The key principles in our underwriting

Expertise

• Infrassure’s underwriting team members have all obtained academic and professional credentials.

•Managing both underwriting and claims provide the individual underwriters with a complete end to end view of the risks.

Risk analysis

•Risk assessment / selection has the highest priority in underwriting.

•Risk Analysis is a detailed process covering all aspects of the analysis of risks, covers, structure, pricing and capacity.

•Nat Cat and monitoring of capacity allocation.•Attention to detail and agreed underwriting

strategy for each new and renewed risk.

Training & control

•Highly technical training and underwriter support.

• Intensive and comprehensive risk management controls and audit.

•Legal support.

Knowledge basedunderwriting

Expertise

Risk analysisTraining & control

Infrassure Company Presentation17

Portfolio diversification

Civil Construction, Metals & Mining

Oil, Gas & Petrochemicals

Power

Process, Electronics & Telecommunication

Infrassure serves clients in over 100 countries and four groups of industries, thus creating a highly diversified policy portfolio.

Infrassure Company Presentation18

Reference projects

Nord Stream

Forth Bridge replacement

Carbon Fiber

Next Generation Clean Energy Center, Cape Canaveral.

We only promise what we can deliver –

and we deliver what we promise.

Infrassure Ltd.Uetlibergstrasse 134 AP.O. Box 5089CH-8045 ZürichSwitzerlandwww.infrassure.com