Business Overview

QUINN-Insurance operates in the Irish and UK general insurance markets and has had a major impact on these markets through its innovative and customer focussed approach to the insurance industry.

Ireland

In Ireland QUINN-Insurance has operated in the motor, home, health and commercial liability and property markets since being established in 1996. It is now the second largest player in the Irish insurance market, which clearly illustrates the tremendous impact the company has had on the Irish insurance market over the past 14 years. It has a market which share exceeds 20% in motor and health insurance, 15% in Liability insurance and has a growing share of the property market. Currently the company has over 1 million customers in Ireland.

Personal Insurance: QUINN-Insurance is the leading insurer of younger drivers in Ireland with its combination of competitive premiums and excellent customer service. While the company is best known for insuring younger drivers its entry into the health insurance market in 2007 has allowed it to broaden its reach into all segments of the market and this has been assisted with the recent launch of its innovative All-In-One bundled products in personnel lines.

Business Insurance: Since its formation QUINN-Insurance has also developed its market share in the business insurance market to become one of the leading players in that sector. The company is particularly strong in the construction and allied trades and in the leisure sectors. The company has focused on these areas as the QUINN-group has significant experience of operating in these sectors for many years. The company's approach to managing claims and a true partnership approach with its business customers allow it to tailor insurance packages to customers needs at the right price. In recent years the company has increased its commercial business in other sectors such as services, retail, farming and professional services.

UK

In recent times, QUINN-Insurance has expanded its reach from its traditional market in Ireland (both Republic and Northern) to the UK. The company entered the UK commercial market in 2004 and the UK motor market in 2005 and has generally focused on the same market segments in which it has enjoyed success in Ireland. With five years of experience in the UK market, the company is making excellent progress in replicating its previous success in Ireland. Currently QUINN-Insurance has 250,000 UK customers and provides over 1 million motor and home insurance quotes per week through its internet site and from traffic generated from price comparison sites.

Regulation

All of the company's underwriting activities in Ireland and the UK are carried out through QUINN-Insurance Limited. The prudential supervision of this entity is regulated by the Irish Financial Services Regulatory Authority ("Financial Regulator). In addition, the company files quarterly returns to the regulator detailing the financial position at these dates. The company operates a branch in the UK that is regulated by the Financial Services Authority ("FSA") for the conduct of its UK business.