Company Presentation

2

Outline

• Solid financials

• Portfolio diversification

Solid risk protection

Business focus • Lines of business

• Industries

• Geographical markets

• Construction and operation

Insurance and

engineering expertise• Highlights

• Engineering expertise

• Underwriting and claims handling

• Network

3

Infrassure provides reliable risk protection for infrastructure and industrial projects and installations.

Our clients profit from solid risk protection, due to

• Infrassure’s clear business focus on technical lines of insurance,

• Infrassure’s combination of extensive insurance and engineering expertise.

Business Focus

ExpertiseSolid Risk Protection

Value Proposition

4

Milestones

2010 Infrassure obtains authorization to operate as an occasional reinsurer in Brazil

2008 Infrassure is approved as a surplus lines insurer in the United States of America

2007 Infrassure completes five years of independent operation. Infrassure issues a perpetual EURO 15 million note in November 2007.

2006 Infrassure obtains a Financial Strength Rating of A- by A. M. Best.

2005 Infrassure moves its principal office from Baden to Zurich. The new premises accommodate a substantially increased number of staff members, who manage the global portfolio of construction and operation phase insurance policies. The company approaches new capital resources by participating with a 30 year EUR 16m note in a EUR 300m CDO (Collateralized Debt Obligation).

2004 Swiss Insurance Investors Group establishes a sister insurance company in Liechtenstein to gain direct access to the markets of the European Union.

2003 Swiss Insurance Investors Group acquires 100% of the shares of Alstom Power Insurance from its mother company, establishes it as an independent insurance corporation and has the company name changed to Infrassure. The domicile of the company remains in Baden, Switzerland.

2002 The company is renamed as Alstom Power Insurance – following the merger of ABB’s and Alstom’s power generation activities in 2001 – and has its legal seat transferred from Guernsey to Baden, Switzerland. Alstom Power Insurance is licensed as a non-life insurance and reinsurance company.

1996 ABB Power Insurance is founded as a captive insurance company to provide insurance for gas turbine and combined cycle power plants.

Business Focus

6

Lines of Business (I)

Infrassure meets customers’ needs throughout the entire life cycle of infrastructure and industry projects and installations.

Design,Engineering,Manufacturing

Loading,Transportation

Unloading,Storage

Construction,Erection

Testing,Commissioning

Construction All Risks

Erection All Risks

Third Party Liability

Delay in Start-Up

Marine Cargo 

Marine Delay in Start-Up

InfrassureInsurancePolicies

7

Lines of Business (II)

Infrassure meets customers’ needs throughout the entire life cycle of infrastructure and industry projects and installations.

Testing,Commissioning

CommercialOperation

Industrial All Risks (Property and Machinery Breakdown)

Industrial All Risks (Business Interruption)

InfrassureInsurancePolicies

PAC

8

Industries

Infrassure provides services for a wide range of industries that we group into four categories.

Net premium written in millions CHF

Civil Construction, Metals & Mining

Oil, Gas & Petrochemicals

Process, Electronics & Telecommunication

Power

0

50

100

150

200

201020092008

49.6

189.4

53.9

43.4

42.5

(26%)

(29%)

(23%)

(22%)

35.2

195.1

76.1

36.9

46.9

(18%)

(39%)

(19%)

(24%)

34.0

182.1

49.2

42.6

56.3

(19%)

(27%)

(23%)

(31%)

9

Geographical Markets

Infrassure serves five geographical markets chosen according to our market strategy, which is updated on a yearly basis.

0

50

100

150

200

201020092008

Africa, Middle East

Asia, Australia

Central & South America

Europe

North America

Net premium written in millions CHF

37.6

189.4

57.3

35.6

23.3

(20%)

35.6 (19%)

(30%)

(19%)

(12%)

42.2

195.1

51.3

36.3

13.8

(22%)

51.5 (26%)

(26%)

(19%)

(7%)

32.2

182.1

43.9

32.0

23.2

(18%)

50.8 (28%)

(24%)

(17%)

(13%)

10

Construction and Operation

Infrassure provides insurance policies for projects in both the construction and operation phases.

0

50

100

150

200

201020092008

Net premium written in millions CHF

130.7

189.4

58.7

(69%)

(31%)

135.6

182.1

46.5

(74%)

(26%)

133.5

195.1

61.6

(68%)

(32%)

Construction

Operation

Insurance and Engineering Expertise

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• Several of the major metals producers in the world

• Majority of the large mining companies

• Urban metro expansion projects

• Global infrastructure projects such as tunnels, bridges, harbors, motorways, airports and railways

• Public services facilities such as desalination and water treatment plants as well as irrigation projects

Highlights Civil Construction, Metals & Mining

Infrassure’s insurance experience includes:

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• 11 of the top 15 global oil & gas companies

• Construction and operation of worldscale FPSO’s

• Multibillion dollar oil sands projects and subsequent operations

• LNG - from liquefaction to regasification

• Entire spectrum of upstream and downstream activities from oil & gas networks to global energy packages

• Well construction, encompassing COW, drilling rigs and subsea completions

• Technologically advanced processes such as gas-to-liquid and coal-to-liquid

Highlights Oil, Gas & Petrochemicals

Infrassure’s insurance experience includes:

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• All major power generation and transmission technologies – Gas turbine / combined cycle– Conventional fired steam turbine– Hydroelectric– Nuclear– Solar– Wind– Waste incineration / co-generation– Sub marine power cables

• Global portfolio greater than 200’000 MW

• More than 100 GT/CCPP projects (>50’000 MW)

• Sizeable and successful track record for independent power producers as well as leading utilities worldwide

• Direct relationships with major power plant contractors / equipment suppliers

Highlights Power

Infrassure’s insurance experience includes:

15

• Major chemical companies, encompassing the full spectrum of chemical processes

• Several large scale pulp & paper producers worldwide

• The leading global semiconductor producers, involving the newest technologies, for example HD LCDs

• The principal aerospace and defense contractors

• Most of the world’s largest telecom providers, including 3G mobile networks

• A large number of prime motor and rail vehicle manufacturers from Europe, Asia and North America

• Manufacturing industries such as fertilizers, bio-fuels and cement & gypsum

• Pharmaceutical industry

Highlights Process, Electronics & Telecommunication

Infrassure’s insurance experience includes:

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Engineering Expertise

Infrassure’s underwriting team members have obtained academic credentials in

• Chemical engineering

• Civil engineering

• Electrical engineering

• Mechanical engineering

Infrassure’s underwriting team members have cooperated in a substantial number of engineering projects, e.g.:

• Geo-environmental projects for London Underground

• Oil & gas projects in various geographical areas

• Development of large F-class gas turbines

• Deployment and support of wide-area networks

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Underwriting and Claims Handling (I)

Infrassure’s underwriting and claims handling policy is based on three principles.

• Thorough analysis - of all technical and contractual aspects of a risk - by underwriters with engineering qualifications and industry experience.

• Four eyes policy - for all decisions.

• Single point of contact - ensuring consistent customer management throughout the entire term and claims settlement process.

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Underwriting and Claims Handling (II)

Infrassure’s business procedure is built on a sequence of interdependent steps. The day-to-day underwriting and claims handling is managed by the responsible Underwriting Claims Manager.

Clientrelationship

ClientSinglePoint ofContact

Infrassure

Underwritinganalysis

Insurance solutionstructuring

Policy administration

Risksurveys

Claimshandling

19

Risk and Knowledge Division

The Risk and Knowledge division (R&K) is responsible for the training and support functions of the company, for example:

• All Underwriting & Claims Managers are given initial and continuing training and development.• On-going advisory support (legal and technical).• Portfolio analysis, including the use of proprietary NatCat Aggregation Tools, to assist Underwriting & Claims Managers in correctly selecting risks and in allocating appropriate capacity.• Licensing applications and compliance issues with regulators.

Solid Risk Protection

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Solid Financials

Infrassure’s financial strength is mirrored in the company’s balance sheet.

2008 2009 2010

0

100

200

300

400

500

600

22

339

126

46

362

89

66

16

533

28

312

210

46

440

72

61

23

5968

323

213

39

435

77

45

26

583Figures in millions CHF as per Dec. 31 Assets

LiabilitiesCurrent liabilities

Technical provisions

Cash & Investments

Receivables

R/I assets

Other long term assets

Longterm debt

Equity & Surplus

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Portfolio Diversification

Infrassure serves clients in over 100 countries and four groups of industries, thus creating a highly diversified policy portfolio.

Civil Construction, Metals & Mining

Oil, Gas & Petrochemicals

Power Process, Electronics & Telecommunication

We only promise what we can deliver –

and we deliver what we promise.

Infrassure Ltd.Uetlibergstrasse 134AP.O. Box 5089CH-8045 ZürichSwitzerlandwww.infrassure.com