Bundesanstalt für Finanzdienstleistungsaufsicht
Referat VA 31
Graurheindorfer Straße 108
53117 Bonn
Germany

C e r t i f i c a t e

For submission to the insurance supervisory authority in Germany this is to certify that

(Name of company)

(Address)

was set up in (year) as a mixed insurance company under (Name of Home country) law which has its head office in (Name of Home country) and intends to operate exclusively the reinsurance business in Germany.

Pursuant to sections (Number) et seq. of the current version of the Insurance Supervision Law the company is subject to supervision by the (Name of the Supervisory Authority). Under the mentioned law and its charter the company is authorized in accordance with the IAIS Standards on Supervision of Insurers (Insurance core principles and methodology, October 2003) to operate business by reinsuring risks from all insurance classes both in (Name of Home country) and abroad. Within that frame, the company is observing the rules determined by the Supervisory Authority. In the past five years any violation which would give rise to criminal prosecution has not been brought to my knowledge.

The (Supervisory Authority) has no objection to the mentioned company operating its reinsurance business activity also in Germany and meeting any obligations that may result from that activity in freely convertible currency.

Furthermore the (Supervisory Authority) has the willingness and is able to cooperate with the Federal Financial Supervisory Authority (BaFin – Bundesanstalt für Finanzdienstleistungsaufsicht) in a satisfactory manner.

(Signature)