DUAL Corporate Risks Limited

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• DUAL – information and update• Directors & Officers liability• Recent D&O issues• Underwriting – strategy/protocol• Appetite

DUAL Corporate Risks

DUAL Corporate Risks are leading providers of mid-market financial lines insurance in the UK

Since 2003, we have evolved from a team of three into a company of 40 through consistent market innovation and superior service

Operations in both London and Manchester enable us to offer tailored service to all corners of the UK

We understand the value of partnership

DUAL Corporate Risks

We are part of the Hyperion Group - with DUAL International’s annual Gross Written Premium of €100million

DUAL International are committed to offering competitive, local service backed by a strong central resource

Other group operations in Cologne, Madrid, Milan, Melbourne, Sydney and Hong Kong

DUAL – in partnership with Arch

DUAL are an MGA – underwriting on behalf of Arch CapitalBinder agreement on rolling contractFinancially strong despite current economic climate$3.9 bn in capital (September 2008)$2.8bn GWP2007 combined ratio 84.1%

FINANCIAL STRENGTH RATINGSStandard & Poor’s: “A” (Strong) - Stable A.M. Best: “A” (Excellent) - StableMoody’s: “A2” (Good) - Stable

Arch – analyst comment

Credit Suisse research Analysts, 25th April 2008: “We believe ACGL will outperform peers due to low sub prime asset risk, strong management, diversified earnings, low financial leverage, redundant reserves and mid teens book value growth.”

Merrill Lynch Analysts, 25th July 2008: “Arch’s balance sheet remains strong with a relatively clean investment portfolio and strong loss reserves. We believe that the strong insurance franchise merits a premium to book value.”

JP Morgan, North America Equity Research, 25th July 2008: “We continue to believe ACGL offers investors above-average return with average to slightly below-average volatility.” “The appeal of ACGL’s strong balance sheet and transparent management decision-making also provide comfort in an uncertain market.”

Goldman Sachs, Global Investment Research, 30th July 2008: “… we believe ACGL shares represent one of the stronger investment opportunities in our universe. The company has a very clean balance sheet, EPS that has exceeded expectations for the last 8 quarters, and a proven record of aggressive capital management.”

Worldwide capability

DUAL Corporate Risks (UK) transacts business in many territories across the globe

With far reaching capabilities we are confident that we can create innovative and flexible solutions – for any client in numerous territories

DUAL Products

Standard Products We offer clear and comprehensive policy wordings for a wide range

of mid-market company directors and professionals:

Directors & OfficersProfessional Indemnity

Crime Pension Trustee

Investor ProtectionOffice / Contents / EL & PL

Bespoke ProductsDUAL has the ability to tailor any of the products in a bespoke format to

ensure

DUAL Service

Internet Quoting Engine (IQE)IQE offers brokers anytime access to immediate online quotes on a

wide range of our products:5 simple steps from quote to binding

Portfolio management system for brokersStatistical information for brokers about their clients

DUALXpressOffering a “move away” from internet quote engines

More traditional paper-based instant quotation document

Innovation

Management Liability – a DUALXpress product

DUAL Service

ClaimsOur thorough, hands-on claims handling service uses the best legal

advice to ensure prompt and just settlements.

We place great importance on cost effective agreements and local knowledge when selecting and managing lawyers and loss

adjusters.

Directors & Officers

Executive

Private

Non-Profit

Fund

Combined

Complete

Private Equity

Commercial D&O

No real change / movement on appetiteBroad appetite – no excluded classes in SME/Mid-MarketExcluded classes – FTSE100 / NASDAQ / USA over 25%Primary of XS maximum limit of £10,000,000 – for now….!Rate on…….

Assets?

Turnover?Quality of risk?Competition?Volume?Exposure?

Professional Indemnity

Accountants

Alternative and Complementary Medicines

Architects

Engineers

Design and Construction

Insurance Intermediaries

IT

Management Consultants

Media

Miscellaneous

Surveyors