ACR WELCOMES LEADING UNDERWRITING AND MANAGEMENT TALENT

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1 NEWS RELEASE ACR WELCOMES LEADING UNDERWRITING AND MANAGEMENT TALENT Singapore, 29 October 2018 Asia Capital Reinsurance Group Pte. Ltd. ( Asia Capital Re ) has boosted its underwriting and management team with a number of new appointments. In particular, as part of its strategic business direction, the Asiabased reinsurer has created specific leadership positions for its Treaty, Facultative and Specialty business. Industry veterans, Mr Soeren Soltysiak, joined Asia Capital Re on 22 October 2018 as Chief Underwriting Officer, Treaty, and Mr Ronnie Tong will join as Chief Underwriting Officer, Facultative and Specialty in December Collectively, Mr Soltysiak and Mr Tong bring close to 60 years of underwriting and management experience, insight and network to Asia Capital Re. They will also sit on Asia Capital Re s Executive Committee. Chief Executive, Bobby A. Heerasing, said, The next phase of our growth will focus on, among other things, broadening our product offering, boosting our claims processing capabilities and developing a greater international presence. Soeren and Ronnie both have extensive exposure and network in Asian and global markets. Their expertise and experience will help ensure that ACR is able to continue building on our client base in Asia and the Middle East, while attracting new clients globally, particularly in North America, Europe, Australia and New Zealand. To spearhead Asia Capital Re s managed expansion into North America and Europe, the reinsurer has appointed Mr Nick Macfarlane as its Head of Treaty, International. He is expected to join the company in December 2018.

2 Page 2 of 8 Mr Heerasing added, Our vision is to be a leading and agile reinsurance partner to our clients, offering superior solutions and services that are delivered by some of the best in the industry. I am very pleased to have a number of established and up-andcoming talented individuals joining us, all with excellent track records and demonstrated commitment to client service. Together with our existing team of dedicated staff, our clients can expect an expanded and enhanced suite of solutions and services from us in the long term. Recent additions to the Asia Capital Re leadership team include Mr Michael Resnikoff as Head of Casualty and Financial Lines, Facultative, and Mr Nicolas Winter as Head of Property and Engineering, Facultative, Mr Resnikoff and Mr Winter both joined the reinsurer on 24 September Asia Capital Re will also welcome Mr Loo Seng Han as Senior Client Underwriter, Treaty, in January In other staff developments, Mr Chan Whye Loon, who held the portfolio of Chief Retrocession Officer, has returned to the position of Chief Risk Officer, a role he first held when he joined Asia Capital Re in Pending regulatory approval, Mr Solomon Chiu, Head of Treaty Market I (Greater China), will take on the additional responsibilities of Principal Officer, Hong Kong Branch Office. The reinsurer is also pleased to announce that its Senior Manager of Reserving, Mr Kenneth Law, has received regulatory approval to be its Certifying Actuary.

3 Page 3 of 8 Biographies in Brief Facultative & Specialty Ronnie Tong, Chief Underwriting Officer, Facultative & Specialty (Effective December 2018) Biography 28 years of general insurance experience across general and market management, underwriting, reinsurance, and oversight on claims, risk engineering, and product & pricing. Previous roles include Managing Director, Commercial Lines & Health at AXA Singapore, Regional Director of Commercial Lines at AXA Asia, Chief Underwriting Officer, Global Corporate, Asia Pacific at Zurich Insurance, Regional Head of Corporate & Commercial Business, Asia, at Zurich Insurance, and Deputy Regional Property Manager GCSEA at AIG. Regions of responsibilities included North Asia, Southeast Asia, Australia, and other territories in the Asia Pacific. Is a Chartered Insurer. Has a Bachelor of Social Sciences (Business Management & Economics) degree from the University of Hong Kong. Michael Resnikoff, Head of Casualty & Financial Lines, Facultative Biography 18 years of Casualty underwriting and managerial experience. Previous roles include Asia Pacific Casualty Underwriting and Multinational Manager, Chubb and Asia Pacific Casualty Underwriting Manager, CNA Hardy Regions of responsibilities include Asia Pacific and some global placements. Graduated from Chubb Global Leadership School and Chubb Global Underwriting Development Program. Has a Master of Business Administration degree from Deakin University Australia and a Bachelor of International Business degree from Griffith University Australia.

4 Page 4 of 8 Facultative & Specialty (Cont d) Nicolas Winter, Head of Property and Engineering, Facultative Biography Over 10 years of risk engineering and underwriting experience. Previous roles include Senior Property Underwriter, Allianz Global Corporate & Specialty (Sydney, Australia); Vice President, Property Facultative Underwriter, XL Re Singapore; Nat Cat Modeler and Facultative Underwriter Assistant, Scor Global P&C Singapore; and Risk Engineer, Zurich Global Corporate Paris. Regions of responsibilities included Asia Pacific and Europe. Has a Master s Degree in Engineering from École des Mines de Saint- Étienne, France.

5 Page 5 of 8 Treaty Soeren Soltysiak, Chief Underwriting Officer, Treaty Biography Over 20 years of underwriting experience. Previous roles include Head of Southern Asia Pacific and India, and Underwriting Director of Asia Pacific, XL Catlin; General Manager, Non-life Treaty Division, Allianz Re SE; and Chief Underwriting Officer, Reinsurance, Asia Pacific, Catlin. Regions of responsibilities included Asia Pacific and Europe. Is a Fellow of the Chartered Insurance Institute, UK. Has a Diplom Betriebswirt* from the University of Applied Sciences, Cologne, Germany. *German equivalent of degree in business administration Solomon Chiu, Head of Treaty Market I; Principal Officer, Hong Kong Branch Office (pending regulatory approval) Biography Over 30 years of industry experience in Greater China. Previously CEO of Central Reinsurance Corporation Two-time winner of Asian Risk Manager of the Year Award. A qualified Master Mariner certificate holder. Nick Macfarlane, Head of Treaty, International (Effective December 2018) Biography 10 years of industry experience. Previous roles include Senior Underwriter, MS Amlin Regions of responsibilities included UK, Japan, Australia and New Zealand. Has a Bachelor of Arts from the University of Bristol. Is an Associate of the Chartered Insurance Institute, UK.

6 Page 6 of 8 Treaty (Cont d) Loo Seng Han, Senior Client Underwriter, Treaty (Effective January 2019) Biography 11 years of industry experience. Previous roles include Treaty Underwriter, XL Catlin. Regions of responsibilities included Taiwan, Southeast Asia, India and the Indian subcontinent. Has a Bachelor of Science degree in Applied Mathematics from National University of Singapore.

7 Page 7 of 8 Enterprise Risk Management Chan Whye Loon, Chief Risk Officer Biography Over 25 years of actuarial, risk management and underwriting experience. Previous roles include Chief Retrocession and Accumulation Officer, Asia Capital Re; Chief Risk Officer, Al Fajer Retakaful Insurance Company; and Regional Senior Manager, Allianz Re. Regions of responsibilities include the Asia Pacific, the US and the Middle East. Has a Bachelor of Science degree in Actuarial Science from the University of Central Oklahoma, US. Reserving Kenneth Law, Certifying Actuary; Senior Manager, Reserving Biography 18 years of actuarial work experience. Previous roles include Senior Actuarial Manager, KPMG China (Hong Kong Office); Actuarial Manager, S. Yu & Partners Limited; and Actuarial Analyst, Tillinghast Towers Perrin. Regions of responsibilities include Greater China and Southeast Asia. Is a Fellow of Casualty Actuarial Society (US) and the Singapore Actuarial Society; was a member of the general insurance committee of the Actuarial Society of Hong Kong. Financial Risk Manager Certified by the Global Association of Risk Professionals (FRM GARP). Has a Bachelor of Science in Actuarial Science from the University of Hong Kong.

8 Page 8 of 8 About Asia Capital Reinsurance Group Pte. Ltd. Asia Capital Reinsurance Group Pte. Ltd. ( Asia Capital Re ) is a reinsurance solutions provider for large and specialist risks. Headquartered in Singapore, Asia Capital Re has branches in Hong Kong, Dubai and Korea, representative offices in Taiwan, Japan and Vietnam, and a liaison office in India. Asia Capital Re is also the parent company to Asia Capital Reinsurance Malaysia Sdn. Bhd. and ACR ReTakaful Holdings Limited. Asia Capital Re is a wholly owned subsidiary of ACR Capital Holdings Pte. Ltd., a risk solutions provider that has ranked among A.M.Best s top 50 global reinsurance groups since For more information on Asia Capital Re, please visit or contact: Corporate Communications T: E: media@asiacapitalre.com Melissa Hyak T: M: E: melissa.hyak@asiacapitalre.com Carol Wee T: M: E: carol.wee@asiacapitalre.com