COMPANY HISTORY AND CURRENT BACKGROUND Partnership is at the heart of AXIOM philosophy 06 September 2010.

COMPANY HISTORY AND CURRENT BACKGROUNDPartnership is at the heart of AXIOM philosophy

06 • September • 2010

Company HistoryInsurance Broker AXIOM (Almaty, Kazakhstan)(formerly Heath Lambert CIS Limited)

AXIOM builds upon a set of traditions and values stretching back over 15 years. Central to this tradition is our forward-looking and innovative approach in developing new and creative risk transfer services for our clients.

Heath Lambert have been working with Kazakh Insurance companies since 1995. In order to facilitate their clients’ requirements in Kazakhstan Heath Lambert established a regional office in November 1997 and the local insurance broker Heath Lambert Alatau Limited in July 2000.

Company HistoryInsurance Broker AXIOM (Almaty, Kazakhstan)

In July 2005 Heath Lambert Alatau Limited have changed their name to Heath Lambert CIS Limited to reflect the change in their overall role by becoming a regional hub office for the parent Group.

In May 2006 the management of Heath Lambert CIS Limited have bought the Company out and changed its name to Insurance Broker AXIOM.

Company HistoryAXIOM InRe Insurance Brokers (Moscow, Russia)(formerly Insurance Broker TAURUS, PLC)

Founded in 2003, Insurance Broker TAURUS have changed their name in September 2007 to AXIOM InRe reflecting closer affiliation with their sister broker in Kazakhstan.

Company Profile

The AXIOMs are licensed full service brokers providing complete local support in Russia, Kazakhstan and Central Asia in terms of broking, servicing and claims expertise. Our position as a local independent alternative to the “mega brokers” means that clients receive insurance, reinsurance and risk management solutions in line with their business needs.

Insurance Broker AXIOM is regulated by the Kazakh Agency for Regulation and Supervision of Financial Market and Financial Organizations. Insurance Broking Licence No. 5 dated 01/09/2006.

AXIOM InRe Insurance Brokers are regulated by the Russian Federal Agency for Insurance Supervision, Insurance Broking Licence СБ-Ю No. 4093 50 dated 27 November 2007. Reg.No. 4093 under Uniform Public Register for Entities Involved in Insurance Activities.

Both Kazakh and Russian operations are 100% privately owned, by the management and staff.

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Our broking activities cover a wide range of insurance business classes, including Oil and Gas, Property and Business Interruption, Construction, Marine & Aviation , Financial and Professional Indemnity, Facultative & Treaty Reinsurance. As in all areas of our operation we seek to offer flexibility and innovation to ensure that our clients not only save on their costs, but also get the protection they need.

Sector Expertise – Oil & GasAXIOM’s involvement in the Oil & Gas sector is extensive; we pride ourselves on the breadth of our insurance broking services, our individual approach to risk analysis, our experience and our commitment to a high quality service to clients. Our Clients include:

Asian Gas Pipeline (part of Central Asia-China gas pipeline also known also as Turkmenistan-China gas pipeline)

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – Oil & Gas (continued)Our Clients include:

Kazakhstan-China Oil Pipeline (China's first direct oil import pipeline allowing oil import from Central Asia)

KazMunaiGas – Refining and Marketing (a KazMunaiGaz downstream company)

KarazhanbasMunai (9th largest oil producing company in Kazakhstan)

KazGerMunai (8th largest oil and gas producing company in Kazakhstan)

KuatAmlonMunai (oil producing company 8,000 bpd of high quality crude from the Bektas-Konys field)

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – Oil & Gas (continued)Our Clients include:

Lancaster Petroleum (now KMK Munay AO)

SUN Drilling (oilfield service contractors)

Ural Oil & Gas (oil exploration and production company, JV with MOL Hungarian Oil and Gas Company)

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – Industrial Property, Power & Utilities (including Construction Business)Our major Clients include:

Kazzinc (zinc producer)

Samruk-Kazyna (the National Welfare Fund)

Sunkar Resources (Phosphate mining company)

We have experience of handling Power Distribution and Power Generating facilities , including:

KEGOC (Kazakhstan Electricity Grid Operating Company )

Karaganda Zhylu (an EBRD sponsored 2 Power Stations and heating system).

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – Telecoms (Property & Equipment)Our Clients include 3 of the 4 mobile operators in the country:

Altel (CDMA Operator)

Kar-Tel (Beeline Kazakhstan – GSM Operator)

Mobile Telecom-Service (GSM Operator)

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – MarineOur Clients include the only shipping company of the country:

KazMorTransFlot (National Maritime Company, a subsidiary of KazMunayGas)

Kazakhstan Coast Guard (Kazakhstan Border Forces)

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – AviationWe are involved in placing risks into the Russian and CIS markets, with previous experience in handling Air Kazakhstan (flag carrier), Berkut (Government VIP), Kazakhstan Border Forces, Sayakhat and some 15 other local airlines.

AXIOM is involved in placing overseas inward reinsurance business into the Russian and CIS markets.

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – ReinsuranceSimilarly we have extensive knowledge of the Treaty Reinsurance sector. This knowledge allows us to apply a greater depth of understanding to the issues which relate to the local Reinsurance requirements. AXIOM have a dedicated Reinsurance team who are at the forefront in this sector. Our Clients include:

Allianz Kazakhstan Insurance Company

Astana Finance Insurance Company

BTA Insurance Company

Nomad Insurance Company

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – Financial & Professional RiskAt AXIOM, we are familiar with all financial institutions insurance products, including Bankers Blanket Bond, Computer Crime, Professional Indemnity and Directors and Officers Liability for Financial Institutions and Crime and Professional Indemnity for Commercial Enterprises. AXIOM provide comprehensive and cost-effective D&O (re)insurance solutions to the following clients:

Air Astana (Kazakhstan flag carrier)

Kurastyru Zauty JSC (subsidiary of National Company “Kazakhstan temir zholy”, locomotive assembly plant)

Ravninnoe Oil LLP (oil and gas exploration and production company, 32.50% owned by Canamens Energy B.V.)

BNG Ltd LLP (oil and gas exploration and production company ,35.50% owned by Canamens Energy B.V.)

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – Financial & Professional Risk (continued)

As part of our Financial Institutions & Professional Indemnity experience, we used to handle comprehensive reinsurance programmes for BTA Bank and Sberbank Kazakhstan, CIT programmes (e.g. Group 4 Securitas Kazakhstan), certain ancillary covers for ABN-AMRO Kazakhstan (now RBS Kazakhstan), Kazkommertsbank and Lariba Bank (now AsiaCredit Bank).

(Re)Insurance ExpertiseInsurance Broker AXIOM (Almaty, Kazakhstan)

Sector Expertise – Risk ManagementWe at AXIOM believe only the best is good enough. Rather than maintaining an in-house capability – which presents limited and sometimes mismatched resources – we prefer to work with external partners most appropriate to client needs. Our Clients in the sector include:

Olympex Advisers (part of KazMunayGas)

Our work for these clients encompasses the full spectrum of broking and risk management service, helping our clients 'raise their game'.

(Re)Insurance ExpertiseAXIOM InRe Insurance Brokers (Moscow, Russia)

AXIOM InRe is one of the FSU’s leading aviation insurance broking operations. We have extensive experience and an enviable reputation in this challenging and highly specialist market. Based on this success AXIOM InRe develop other lines of business

Sector Expertise – AviationAXIOM InRe involvement in the Aviation Risks (Re)Insurance sector in Russia and overseas is extensive, with current experience in handling major Russian airlines as well as placing overseas business into the Russian Market, co-broking with their affiliated Insurance Broker AXIOM (Kazakhstan), who are also involved in placing risks into the Russian and CIS markets. Examples of our Clients in the sector include:

TRANSAERO Airlines (the 2nd largest Russian airline),

with previous experience in handling ROSSIYA – Russian Airlines (the largest state-owned Russian airline, now part of Aeroflot)

(Re)Insurance ExpertiseAXIOM InRe Insurance Brokers (Moscow, Russia)

Sector Expertise – ReinsuranceAXIOM InRe are expanding the Reinsurance business, with several Programmes in hand. Our Clients include:

SOGAZ (Comprehensive Aviation Reinsurance Programme)

VTB Insurance Limited (Cargo Open Cover Reinsurance Programme)

(Re)Insurance ExpertiseAXIOM InRe Insurance Brokers (Moscow, Russia)

Sector Expertise – Financial & Professional RiskOur expertise, along with longstanding relationships with major international insurance brokers, ensures that our clients receive the most resourceful, comprehensive and cost-effective solutions available. Our Clients include:

TRANSAERO Airlines (Directors and Officers Liability Insurance Programme)

GAZPROMBANK (Comprehensive Bankers Bonds Reinsurance Programme for SOGAZ)

Top Management / Owners

Yaroslav DildiayevChairman, AXIOM & AXIOM InRe Yaroslav began his insurance career in 1994 with Alexander Howden (Kazakhstan) Limited with a responsibility for underwriting and sales. In 1995 Yaroslav then moved to Almaty International Insurance Group as an Executive Director before moving to Industrial Insurance Group in Almaty as Vice President. In 1997 Yaroslav joined Heath Lambert as Managing Director of Heath Lambert Kazakhstan to run this representative office developing both insurance and reinsurance broking. The role included representing Heath Lambert in Kazakhstan in addition to developing business and building relationships and contacts with local authorities, companies and organisations. From July 2000 Yaroslav to 2005 has been the Director of Heath Lambert Alatau Ltd. Now Yaroslav is based in Moscow developing the AXIOM InRe operations.

Top Management / Owners

Peter LubyantsevManaging Director, AXIOM Peter has joined AXIOM 11 years ago from University, and since has built up a wide range of experience in Energy, Property and Business Interruption, Telecommunication, Construction, Financial and Professional Indemnity areas.

In his career to date Peter has worked on major national clients dealing with designing and implementation, direct and facultative placement and administration of large insurance programmes. Peter is the CEO of AXIOM from 2005 (Approved Person by the Agency for Regulation and Supervision of Financial Market and Financial Organizations).