1 April 2011

Intensity A Year of

Investor Presentation

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Disclaimer

This presentation is not an offer or invitation to subscribe for or purchase any securities.

No warranty is given as to the accuracy or completeness of the information in this presentation.

You must make your own independent investigation and appraisal of the business and financial

condition of GIC Group.

Nothing in this presentation shall form the basis of any contract or commitment whatsoever. This

presentation is furnished to you solely for your information. You may not reproduce it or redistribute

to any other person.

This presentation contains forward-looking statements. These statements may be identified by

such words as, "plans", "expects", "believes" and similar expressions, or by their context. These

statements are made on the basis of current knowledge and assumptions. Various factors could

cause future results, performance or events to differ materially from those described in these

statements. No obligation is assumed to update any forward-looking statements

By participating in this presentation or by accepting any copy of the slides presented, you agree to

be bound by the forgoing limitations.

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2011: Opportunities

2010: Year in Review

Agenda

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Fairfax acquired a significant stake in GIC 41.26% & KIPCO still the major shareholder of GIC with stake percentage of 43.87% as at 31-Dec-2010.

Acquired significant stake in Egyptian Life Takaful Insurance Company through GLIC with direct & indirect stake of 59.5%.

Increase Stakes in AOIC from 55% to 88.67%, BKIC from 51.22% to 56.12% and GIC Life from 98.6% to 99.80% and Buruj from 24.5% to 27.25%.

Gross premiums written, underwriting results and net profit reached a record level with a remarkable growth rates, which affirms our growing business with-in most of the markets that GIC operates in, noted that, GIC gains the tender of KPC’s medical scheme as well as developed IT system for medical business and launched customer service center to serve more than 42,000 participant.

2010…year in review

GIC’s Shareholders Structure &

Regional Expansion

Achieve remarkable & distinct results

Enterprise Risk Management

GIC worked extensively on establishing an independent Risk Management function under supervision and control of concerned committee which reporting to the Board of Directors.

Continuous improvement in internal process & internal controls.

Credit Rating

Maintained Standard & Poor's interactive financial strength and long-term counterparty credit rating of “BBB+ / with stable outlook.

Distinct initiative to get additional rating from AM-best to assign GIC & other four companies within the group the financial strength & credit rating.

Continuance improvements in Takaful business unit in GIC; to provide wide distinguished and new range of insurance solutions to customers.

GIC’s Group adhere to the concept of “Corporate Governance” following the best practice and to be in compliance with the domestic regulations and applicable laws in each country the group operates in.

Transparency, accountability and fairness are the three cornerstones of the GIC corporate culture. The direct responsibility of the Board of directors is to endeavor to be in line with policies of regulatory requirements and different governmental bodies; beyond that in certain countries.

Corporate Governance

Takaful Business

ISO 27001& Online Sale

Maintaining the ISO 27001 Certification in Information -Security Management Systems by the British Standards Institution (BSI) – London. Dramatically improved online sales via www.clickgic.com .

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2010…year in review

Gross Premium Written Revenues

Underwriting Result Net Profit *

KD million KD million

KD million KD million

Net profit *: Attribute to GIC parent Company

36.743.3

70.5 74.186.6

97.2

119.8 110.7

2004A 2005A 2006A 2007A 2008A 2009A 2010A 2010E

21.229.3

43.847.4 50.1

63.367.8 66.2

2004A 2005A 2006A 2007A 2008A 2009A 2010A 2010E

2.93.9 3.9 4.5

8.0

5.2

8.59.7

2004A 2005A 2006A 2007A 2008A 2009A 2010A 2010E

5.87.0

8.4 7.8

3.6

5.0

8.47.7

2004A 2005A 2006A 2007A 2008A 2009A 2010A 2010E

Growth Rate % Budget variance

23% 8% 7% 2%

66% -12% 52% -8%

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2010…year in review

Consolidated Assets Shareholders’ Equity

Investment Portfolio (Portfolio Mix) Net Technical Reserves

KD million KD million

KD million

Others *: reflecting Loans secured by life insurance policies & property held for sale

70.0 100.4 138.4 162.6 153.3 154.9 155.3 152.0

111.4136.9

187.4

223.0240.0 254.4 251.3260.4

2004A 2005A 2006A 2007A 2008A 2009A 2010A 2010E

45.9

60.6

86.676.9

66.771.7

60.670.3

2004A 2005A 2006A 2007A 2008A 2009A 2010A 2010E

22.027.9

49.054.0 58.0

69.8

83.1

75.4

2004A 2005A 2006A 2007A 2008A 2009A 2010A 2010E

Amount KD million

5% -2% 2% 4%

8% -9%

Growth Rate % Budget variance

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2010…Stock market performance

GIC’s Share price Performance, Sector & Market Index

During 2010-YE, GIC’s share price has been raised up reversal the operating insurance sector & market conditions.

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Balance Sheet Strength Operating performance Business Profile

Robust Financial flexibility supported by very two strong shareholder’s (Fairfax & KIPCO).

Lower debt leverage .

Higher risk adjusted capitalization.

A review of the asset allocations/ maturities of investments portfolio.

Launched Combined Reinsurance program with Munich Re , which includes GIC’s Group. This has impacted to increase the insurance capacity ,improved the terms & conditions and increased group commission and retention ratios.

Dealing with highly rated international reinsurance companies having a distinctive and robust financial position.

Stability of executive management which have a strong and long experience in insurance sector.

Continuing regular training & development for group employees in 2010 to reach 290 employees with the aim of boosting their technical management and marketing capabilities.

Invest in information technology, and implementing an effective advertising and marketing plan for GIC's products and services.

Maintaining leadership position in Kuwait for the 10th consecutive year GIC ranked No. 9 out of 306 insurance company in MENA Region.

Strong underwriting performance in life and non-life business with Group CoR of 89% in 2010, which is adequate in insurance industry.

Low general expense ratio (19% in 2010 compared with 22% in 2009).

Retained major business accounts, working to increase insurance portfolio

Stable growth percentage which is in-line with strategic targets.

Focusing on Underwriting philosophies & strategies and pursuit to increase the profitability ratio.

Key Financial Strength

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Country

Business Line

M&A P G&M L H T

MENA

Kuwait

KSA

Bahrain

GCC

Lebanon

Egypt

Jordan

Syria

Algeria

Non-GCC

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Presence Across the MENA Region

GCC countries

MENA (Others)

Libya

Tunisia Morocco

Egypt

Palestine

Qatar

Oman

Yemen

U.A.E

Countries in blue colour indicate GIC presence

Countries in green colour indicate GIC targeted markets

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Iraq

Saudi Arabia

Jordan

Lebanon

Syria

Kuwait

Bahrain

Algeria

Iraq ● ● ● ● ● ●

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Regional Operations (Pan-Regional Presence)

GIC Intends to continue its regional expansion strategy which affirm its regional leading position and to serve the Kuwaiti investments in the Arab region ,spread of risks and exploit the opportunities of growing markets.

Existing operations

Target Operations

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2011: Opportunities

2010: Year in Review

Agenda

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2011… Opportunities

Enhance group integration

Perform an active role towards our subsidiaries in many areas & improve group integration, to strength their financial positions in order to allow these companies to continue to strongly compete in the domestic markets.

Working to implement a comprehensive program of unified policies between the parent company and its subsidiaries in many areas, with the aim of streamlining operations, reducing costs, and increasing revenue.

Maintain Leadership

Regional Expansion

Enterprise Risk Management

Maintain leadership position and improve the market share by enhancing the focuses on customers' needs.

Seeking to take advantage opportunities that assist GIC to achieve the desired regional expansion

Continuing the implementation of an efficient and effective Enterprise Risk Management functions within GIC group.

Financial Strength & Credit Rating

Maintain our S&P financial strength rating & targeting an “A” level rating. Seeking to get a additional financial & credit rating from AM-best for GIC & other subsidiaries.

Continuous Developments

Work continuously and extensively to invest and improve career development program, continuous development in Information Technology and marketing plan for GIC's products & services.

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2011 Guidance (KD million)

Target Growth 2010 A 2011 E*

GPW

Revenues

Underwriting Result

Net Profit (Attribute to GIC parent)

EPS (Fils)

Shareholders’ Equity

130.7 119.8 9.2%

82.0 67.8 21.1%

10.7 8.5 25.7%

10.5 7.7 36.5%

80.4 70.3 14.4%

62.3 46.2 34.8%

* These targets are affected by non-recurring conditions of financial markets as well as the

political situations and government spending in the countries where we are operating in.

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