UIB Asia Reinsurance Brokers Pte Ltd, are pleased to announce that we have today signed a “Memorandum Of Understanding (MOU) with Elite Risk Services Limited, Taiwan to have a local broker license as required by the Financial Supervision Commission of Taiwan, transacting our Facultative Reinsurance Business as from 1st July 2006.

Bengt Johnsen, Managing Director, UIB Asia commented “ this is an important strategic step for our company. It will greatly enhance our service provision to our clients and will place UIB Asia in an important reinsurance market. Elite Risk Services have a natural synergy with UIB Asia and by signing this MOU both companies will benefit from this important alliance”

In reply Peter Wang, CEO, Elite Risk Services said “I am extremely pleased that Elite and UIB Asia have joined forces to create a mutaul beneficial relationship in transacting Taiwanese business and I look forward to a long successful partnership”

<sub>UIB Asia Reinsurance Brokers Pte Ltd is a member of the UIB family of companies. Based in Singapore, UIB Asia handles Treaty and Facultative reinsurance in the Asia Pacific area.

Elite Risk Services Limited - is the largest local insurance brokers in Taiwan or the third largest if included as an international insurance brokers. It handles all lines of insurance and reinsurance except treaty, and specialises in marine hull/liability and Finpro.</sub>

For further details please contact:
Bengt Johnson at bengt@uibasia.com
Peter Wang at peterwang@ersltd.com.tw