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Company Announcement issued 29 May 2015

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MAPFRE Middlesea plc. would like to announce that it has reached a preliminary agreement with Allcare Insurance Ltd for the transfer of the insurance portfolio of Allcare Insurance Limited to MAPFRE Middlesea plc. The preliminary agreement is subject to all regulatory approvals from the relevant authorities.

Once implemented, the portfolio transfer shall not alter the rights of the insured persons under the policies issued by Allcare Insurance Limited, which policies will continue to be serviced by MAPFRE Middlesea plc until expiry, and existing claims will be handled and settled by MAPFRE Middlesea plc.

Further details will be announced in line with the Listing Rules when the final agreement is entered into.

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