Silk Way Insurance Aviation Hull and Liability Contracts 2012

1. Silk Way Insurance Aviation Hull and Liability Contracts 2012

2. Silk Way Insurance Introduction • “SILK WAY INSURANCE" Insurance Company was founded as AZAL SIGORTA Insurance company in 1995 by the group of aviation companies. In July 2011 the company was renamed to “SILK WAY INSURANCE”. From the first days of the activity "SILK WAY INSURANCE" took a special place among the leading insurance companies of Azerbaijan Republic. Currently the company has the license to write 25 types of insurance business. • On 06 July 201 “SILK WAY INSURANCE” obtained unlimited license for insurance activity from the Ministry of Finance of Azerbaijan Republic under the registration number 000454. • The main direction of its activity is connected with aviation insurance. "SILK WAY INSURANCE" was the first user of several types of licenses on aviation insurances in Azerbaijan. Along with such types of aviation insurance as aviation hull and liability insurances, airports and air traffic controls liability insurance, hull war risks, war liability insurance, "SILK WAY INSURANCE" also renders services in property, motor, engineering, cargo, personal accident, fire, liability, medical etc. insurances to its clients. • “SILK WAY INSURANCE” insures passenger aircraft, cargo fleet and helicopters, as well as airports, cargo terminal, aviation refueling companies, ground handling and air traffic authorities. • In it’s history “SILK WAY INSURANCE” has made claim settlements for almost 18 aviation accident / incidents. 8 of them was total loss of aircraft. These claims were settled together with brokers – Marsh, Heath Lambert, JLT, loss adjusters Airclaims, CTC, law companies DLA, BLG, Clyde&Co.

3. Programme Structure JA1206401 - Liability Risk Excess R/I ppn of: USD 112,500,000 xs USD 162,500,000 USD 116,250,000 xs USD 158,750,000 Section Three USD 48,000,000 xs USD 102,000,000 Layers 2, 3 & 4 - JA1206400 - Excess of Loss USD 53,333,334 xs USD 96,666,666 Contract gives Layer 1 - JA1206473 - Excess of Loss benefit to USD 750,000,000 USD 17,500,000 JA1206400 & JA1206473 Section Two xs USD 8,500,000 xs USD 250,000,000 Layer Four USD 9,000,000 USD 12,500,000 Section One xs USD 6,000,000 USD 12,500,000 xs (Max recovery USD 18,750,000) Layer Three USD 3,000,000 USD 2,000,000 xs Layer Two USD 1,000,000 USD 500,000 xs Layer One USD 500,000

4. Maximum Line Structure Excess of Loss Reinsurance • In respect of business based or domiciled in the Republic of Azerbaijan • Hull: USD 5,000,000 • Liability : USD 25,000,000 • In respect of business based or domiciled in the following countries: the Republic of Kazakhstan, the Republic of Moldova, Turkey, Turkmenistan, the Republic of Belarus, Kyrgyzstan, Russia, Ukraine, the Republic of Georgia, Tajikistan, Uzbekistan, India and Nepal, or as agreed by the Slip Leader on behalf of all Reinsurers hereon. • Hull: USD 3,000,000 • Liability: USD 15,250,000 Liability Risk Excess • Section Two – Maximum Recovery limited to USD 18,750,000

5. Marketing / Reinsurers

6. Reinsurers

7. Coverage • Losses Occurring During the period 15 March 2012 to 14 March 2013 • Covers all Hull and Liability business classified by Silk Way Insurance as Aviation

8. Azerbaijan Kazakhstan Moldova Turkey Turkmenistan Belarus Kyrgyzstan Russia Ukraine Georgia Tajikistan Uzbekistan India Nepal Territorial Scope or as to be agreed by Reinsurers

9. Key Contacts Key persons E-mail Direct Dial Niyazi Imanov Niyazi_Imanov@SilkWayInsurance.com +99412 5983850 +99412 5983950 Kama Abishova Kama_Abishova@SilkWayInsurance.com