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The Company’s total assets went up to PLN 336.4m, from PLN 246.1m as at 30 June 2007. The shareholders’ equity amounted to PLN 105m as at 30 June 2008. The Company’s gross technical reserves stood at PLN 210.2m as at 30 June 2008. The ratio of the Company’s capital (own funds) to its solvency margin (capital adequacy ratio) reached 161.6 per cent, which demonstrates that its solvency far exceeds the mandatory level.

The restrictive technical reserve estimation policy implemented in the first quarter of 2008 enabled Link4 to reduce its technical loss for the second quarter more than three times. It amounted to a mere PLN 3.6m.

“Link4 is successfully defending its direct insurance leadership position in Poland. It has been growing faster than the market for the fifth year running. In spite of new direct segment entrants and intensive advertising campaigns across the whole industry, the Company managed to maintain its growth written premium growth rate at the existing level in the six months ended 30 June 2008. Moreover, the more prudent approach to estimation of technical reserves in the first quarter brought about favourable changes already in the second quarter of the year. The Company reported a technical loss which was more than three times smaller than in the first quarter. These facts enable us to view the Company’s growth prospects and the consolidation of its direct insurance leadership position in Poland with optimism. We expect further improvement on these results in the coming quarters. We anticipate that the economic slowdown will translate into consumers looking for savings also in the area of insurance, therefore there will be growing interest in inexpensive products and services offered by Link4,” said Arkadiusz Lew-Kiedrowski, President of the Management Board of Link4 TU SA.

Moreover, the Technical Committee for Management System Certification of the Polish Centre for Testing and Certification carried out an audit of the Company towards the end of the first half of 2008. Last year, the Centre awarded a certificate of high standards in loss adjustment customer service to Link4. The audit findings show that Link4 is now in full compliance with the requirements of the PN-EN ISO 9001:2001 quality standard. The audit also demonstrated that numerous improvements were made to the existing loss adjustment quality management system over the past 12 months. The certification institution confirmed that Link4 still satisfied the certificate requirements and extended the certificate’s validity for another 12 months.

Link4 Towarzystwo Ubezpieczeń SA

Link4 TU SA is the pioneer and the leader of direct insurance in Poland. It commenced its operation in Poland in 2003. Link4’s business model is based on phone and online sales of insurance policies. Advanced technological solutions give customers 24-hour access to professional services and accident assistance with an easy-to-remember phone number 22 444 44 44 from anywhere in Poland and 32 444 44 44 for the Śląskie Province.

Link4 provides motor, property and travel insurance to individual customers.

Link4 was the first insurance company to launch direct life insurance in Poland (in November 2007). It is provided by Link4 Life TU nŻ SA, www.link4life.pl.

Link4 belongs to the Intouch Insurance Group. One of its shareholder is RSA Insurance Group, with a history that dates back more than 300 years.

Link4 holds numerous prizes and awards and was the first direct insurance company to obtain the ISO 9001:2001 quality certificate for loss adjustment.

Since June 2008, Link4 has been operating two advanced call centres, in Warsaw and Katowice.

For further details please contact:

Mr Damian Ziąber
PR Department Head
Link4 TU SA
Mobile phone: (0) 668 444 443
Phone: (22) 444 46 0
E-mail : damian.ziaber@link4.pl

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