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Our history Our company Our strategy Our key financials Our share Selected topics A long history that started in 1824 1824: Creation of AG Life 1830: Creation of AG Fire 1919: AG introduces Group policies 1931: AG creates AG Permanent Health Insurance 1969: The different AG companies become AG 1824 1990: Creation of Fortis, a Belgo-Dutch insurance group out of AMEV/ VSB + AG 1993: Fortis acquires a majority interest in ASLK-CGER and lays the foundations of the bancassurance model 1998-2000: Fortis acquires the Generale Bank and becomes a solid bancassurer 2001: Fortis starts insurance activities in Asia 2007: Fortis acquires selected ABN AMRO-activities May 2009: Fortis sells banking activities and Dutch insurance operations and becomes an International insurer active in Europe and Asia April 2010: Fortis becomes Ageas ! Your partner in Insurance| 17 May 2011 2 October 2008, The financial turmoil has a structural impact on Fortis…. …From a bancassurance group towards a pure insurance player 03/10/2008 – 06/10/2008 29/04/2009 15/06/2009 – 25/09/2009 29/04/2010 • Dutch government acquires Shareholders approve Appointment new management Shareholders approve name change Fortis' Dutch Banking and transactions. BNP Paribas team with Bart De Smet as CEO Fortis into Ageas Insurance activities acquires 75% of Fortis Bank • Fortis announces agreement SA/NV and 25% of Fortis on sale Banking and Insurance Insurance Belgium (now AG activities to BNP Paribas and Insurance) Belgian State 07/03/2009 12/05/2009 25/09/2009 : Investor Day 2ndrevised terms transactions Closing of the transactions Publication new strategy between BNP Paribas, the between BNP Paribas, the Streamlining insurance portfolio on track: Belgian State, Fortis Bank and Belgian State, Fortis Bank and Fortis Fortis Since 25/09/2009 ■ Divestment Luxembourg Non-Life ■ Divestment Turkey Life ■ Discontinuation Russian operations ■ Acquisition Kwik Fit Insurance Services ■ Start-up Tesco Underwriting in UK in UK ■ Acquisition stake UBI Assicurazioni in ■ Divestment Ukrainian Life operations Non-Life together with BNP Paribas ■ Deal with Aksigorta Non-Life in Turkey Assurance ■ Acquisition Castle Cover Limited in UK ■ Restructuring stake in Thailand; ■ Simplification of legal structure KASIKORNBANK increases its stake in Muang Thai Group Holding to 51% Your partner in Insurance| 17 May 2011 3 We are active under many local brands UKUnited Kingdom Belgium Belgium China * Portugal Portugal * Turkey Malaysia Italy Malaysia Italy India Thailand * Acquisition announced but not closed Your partner in Insurance| 17 May 2011 4 Our history Our company Our strategy Our key financials Our share Selected topics A solid mid-sized international insurance group Company Inflows FY10 1 Allianz 107 2 Axa 90 3 Generali 73 4 Aviva 40 5 CNP 32 6 Crédit Agricole 30 7 ING 28 8 BNP Paribas Assurance 25 9 Zurich 24 10 Talanx 22 11 Prudential 22 12 Aegon 21 13 Eureko 20 14 Sw iss Life 20 15 Ageas Ageas 18 16 Munich Re 18 17 Groupama 17 18 Mapfre 17 19 Covea 14 20 Fonsai 13 Source: Company Data Your partner in Insurance| 17 May 2011 6 Group's Insurance operations clustered around 4 segments General Account manages legacy assets & liabilities General Insurance Account Continental Other assets Belgium Belgium United Kingdom United Kingdom Asia Europe & liabilities Your partner in Insurance| 17 May 2011 7 Our markets* Europe and Asia Belgium Ownership: 75% Luxembourg Life € 5,119 mio Ownership: 50% Non-Life: € 1,591 mio Life: € 1,293 mio UK Ownership: 100% Life: € 27 mio Non-Life: € 1,179 mio Germany China Ownership: 100% Ownership: 24.9% Life: € 45 mio Life: € 3,681 mio France Ownership: 100% Life: € 375 mio Hong Kong Ownership: 100 % Portugal Life: € 335 mio Ownership: 51% Life: € 1,724 mio Non-Life: € 231 mio Thailand Ownership: Life: 31%/Non-life: 15% Life: € 714 mio Non-Life: € 111 mio Italy Turkey** Ownership: 25% Ownership: 31% Non-Life: € 213 mio Non-Life: € 415 India Malaysia Ownership: 26% Ownership: 31% Life: € 131 mio Life: € 717 mio Non-Life: € 404 mio * FY 2010 inflow figures on a 100 % basis ** Acquisition announced but not closed Your partner in Insurance| 17 May 2011 8 The organisation reflects the new business structure Board Executive committee CEO Bart De Smet Deputy CEO CRO Bruno Colmant Kurt De Schepper Management committee CEO CEO CFO CEO UK CEO Asia Continental GRO Belgium Europe Patrick Depovere Antonio Cano Barry Smith Dennis Ziengs Steven Braekeveldt Emmanuel Van Grimbergen Lean structure close to businesses Deputy CEO in charge of legacy issues Your partner in Insurance| 17 May 2011 9 Ageas's legal structure simplified in 2010 …remains based on twin structure between Belgium & the Netherlands Belgium The Netherlands ageas SA/NV ageas N.V. Ageas Insurance International N.V. Various legal Various legal AG Insurance Ageas UK Ltd enitities part of entities part of SA/NV Ageas Asia Cont. Europe Royal Park Ageasinvestlux Ageas Hybrid FGF Lux ageas Finance Ageasfinlux ageas B.V. Intreinco N.V. Investments S.A. Financing S.A. S.A. N.V. * Rebranding legal entities into Ageas will be completed early 2011 Your partner in Insurance| 17 May 2011 10 A look on Ageas by various angles View by region Inflow Net profit In EUR bn In EUR mio 17.9 505 15.8 Asia 391 91 6.1 34 4.1 94 14 Continental 3.9 3.9 Europe 51 1.2 0.9 UK 366 264 6.7 6.9 Belgium (17) FY 10 FY 09 FY 10 FY 09 Funds under management (Life+Non-Life)* FTEs In EUR bn 91.9 10,707 10,613 84.3 320 16,9 1.270 278 14,2 1.745 23,7 21,7 4.327 2.827 51,3 48,4 5.790 5.763 FY 10 FY09 FY10 FY09 * Funds under Management Asia include the non-consolidated partnerships and are included on a 100% basis Your partner in Insurance| 17 May 2011 11 A look on Ageas by various angles View by type Inflow Net profit In EUR bn In EUR mio 17.9 505 15.8 14 3.7 391 75 3.0 Other * 13 Non-Life 2 14.2 416 12.8 Life 377 FY 10 FY 09 FY 10 FY 09 Life breakdown Non-Life breakdown Group Life 9% Traditional 41% Other 8% Unit-Linked 19% Accident & Property Health 29% 31% Savings 31% Motor 32% * Relates to UK Retail distribution operations Your partner in Insurance| 17 May 2011 12 Profile Belgium Key financial data Mission EUR mio FY 10 FY 09 The general objective of AG Insurance is: Gross inflow (EUR bn) 6.7 6.9 To be a leading and profitable multi-distribution service Life 5.1 5.4 provider of insurance products Non-Life 1.6 1.5 To strengthen its market leadership position in three Net profit* 264 366 main market segments: Individual Life, Group Life and Life 252 316 Non-Life Non-Life 11 50 By focusing on the following strategic levers: Life FUM (EUR bn) 48.2 45.4 Multi-channel distribution Combined ratio (%) 107.4 103.1 Embedded Value (EUR bn) Product and service innovation Embedded Value (EUR bn) 3.4 3.7 Operational excellence Market Position/ Key competences Business mix Market leader in Belgium, with total market share By Product (GWP) By Distribution (GWP) of 23.7% in FY 2010 (24%) Non-Life (19%) Employee Benefits # 1 in Life (excl. 1st pillar): 27.9% # 2 in Non-Life: 15.4% Multi-channel operating model (29%) (Brokers, Bancassurance, Assurfinance and B2B) Broker Full product range, covering the needs of all market segments (76%) Life (52%) Bank * Figures after minority interest as consequence of the divestiture of the 25% stake in AG Insurance to BNP Paribas Fortis Your partner in Insurance| 17 May 2011 13 Profile United Kingdom Key financial data Mission EUR mio FY 10 FY 09 To be the natural choice for insurance, in whatever way the Gross inflow* 1,207 913 consumer decides to purchase their insurance Life 28 10 Delivering on its promises through its dynamic and Non-Life 1,179 903 responsive team dedicated to customer satisfaction Operating costs (124) (96) Net profit** (17) This vision has to be achieved through the continued 14 Life (9) pursuit of the existing 3-axes for growth strategy: (6) Non-Life (21) 5 1. Manufacturing a wider range of products Other 12 14 2. Distribution through owned and 3rd party routes to market Combined ratio (%) 109.5 108.1 3. Leveraging the combined capability of Ageas UK to deliver * Not including commission & fees from Retail distribution ** Includes net profit other distribution channels cost effective solutions Market Position/ Key competences Business mix Strong foothold in Personal Lines market By Product (GWP) By Distribution (GWP) # 8 Personal Lines (2%) (20%) Affinities # 2 Private car insurance (# cars insured)* Protection # 4 Travel insurance # 4 Personal Lines intermediary (16%) (17%) Commercial Lines Direct A number of core strengths including Customer focused credentials High levels of efficiency, with low unit costs of production Multi-channel capabilities (to client and consumer) (82%) Personal Lines (63%) Intermediaries *Including customer base from Tesco Underwriting (launched October 10) Your partner in Insurance| 17 May 2011 14 Profile Continental Europe Key financial data Mission EUR mio FY 10 FY 09 Continental Europe wants to be the preferred 3.9 insurance partner for leading distributors in Non-Life & Gross inflow (EUR bn) 3.9 3.5 Life protection Life 3.7 Non-Life 0.4 Our value proposition to these partners is 0.2 Net profit 51 34 Ensuring operational excellence Life 48 27 A market-adapted product offering Non-Life 3 7 Focused on risk activities in Non-Life and Life FUM (EUR bn) 23.1 21.5 Embedded Value (EUR bn) 0.8 0.9 Market Position/ Key competences Business mix Mix of leading and challenger positions in Europe: Portugal: # 2 with 15% market share in Life & 5% market share in Non-Life By Product (GWP) By Distribution (GWP) Luxembourg: #4 in local Life & #5 in int'l market (6% market share) (12%) Non-Life (5%) Agent (6%) Direct Italy: # 2 Non-Life bancassurer, with 15% market share in the bancassurance market Small positions in Germany, France (21%) Broker Recently acquired a 31% stake in the #4 Non-Life insurer Aksigorta in Turkey Key competences include : (88%) Life Joint venture and partnership management (68%) Bank Bancassurance Multi-channel distribution Your partner in Insurance| 17 May 2011 15 Profile Asia Key financial data Mission EUR mio FY 10 FY 09 Achieve strong growth in shareholder value through the application of Ageas' core capabilities in selected Gross inflow* (EUR bn) 6.1 4.1 high growth Asian markets. Life 5.6 3.7 Non-Life 0.5 0.4 The emerging Asian trends (bancassurance, Net profit** 94 90 increasing need for higher skill levels in risk Life 85 78 management, distribution, product development) Non-Life 9 12 continue to provide the opportunity to create value. FUM (EUR bn) 1.4 1.2 Embedded Value (EUR bn) 0.6 0.6 Key competences Business mix* Joint venture and partnership management By Distribution (GWP) By Region (GWP) Bancassurance China Hong Kong (9%) Other Malaysia India (2%) Multi-Channel distribution Thailand Agency management and training (32%) 14% 5% Affinity marketing including direct marketing Agents 19% Channel conflict management 60% Product development ALM and Risk management (59%) Bancassurance FY 2010 * Gross inflow and FUM based on 100% of company revenues India commenced commercial ** Net profit based on Ageas' stake and excluding Insurance International holding costs operations in March 08 Your partner in Insurance| 17 May 2011 16 General Account Includes the remaining assets & liabilities related to the past Holding related : Corporate costs Recurring Non-Insurance related assets & liabilities Legacy related : Financial assets and liabilities related to the former Fortis' group Non-recurring Financial instruments owned by Ageas Off or on-balance sheet 'guarantee' commitments related to instruments, issued by Fortis on behalf of its former subsidiaries (BNP Paribas Fortis, Fortis Bank Nederland*, …) Transaction related assets or liabilities: Call option on BNP Paribas shares Stake in Royal Park Investments RPN(I) Contingent liabilities related to Ageas * Now part of ABN Amro Your partner in Insurance| 17 May 2011 17 General Account Composition of the net result remains very diverse and volatile Net profit FY 2010 FY 2009 In EUR mio In EUR mio (168) 705* Others 44 Deferred tax impact 405 Sale 25% AG Insurance 697 RPI 131 Provision for legal (203) disputes Dutch State Call option on BNP 581 Paribas shares Call option on BNP (271) Paribas shares RPN(I) (316) RPN(I) (149) Net-of-tax impact legal (301) Others dispute FBN (81) * 2009 net result General Account restated for regional costs, from EUR 736 mio to EUR 705 mio Your partner in Insurance| 17 May 2011 18 Our history Our company Our strategy Our key financials Our share Selected topics Going forward, we will leverage on the basis of our current strengths and competences Sound insurance group: "Ageas is a Very long track record in insurance industry sound Well capitalised, strong solvency international Conservative risk profile, sound risk management insurance group, Solid profitability excelling in partnerships Excelling in Partnerships: in Europe and A significant number of partnerships with leading distribution partners Asia" (banks, affinity partners, brokers, IFAs, agents) Structured through distribution agreements or JVs Strong positions in Europe and Asia: Leadership position in Belgium Sustainable positions in attractive markets in Europe and Asia. These two markets represent 70% of world market in Life and 53% in Non-Life Well managed balance between profitability in more mature markets and value creation in growth markets Your partner in Insurance| 17 May 2011 20 Insurance strategy built on strong underlying fundamentals Well balanced insurance portfolio Life vs Non-Life Mature vs emerging markets Strong market position Leading market position in home market – Belgium Strong positions in Europe & Asia Solid partnerships in key markets with leading local distribution partners Proven innovation capabilities Strong financial structure Your partner in Insurance| 17 May 2011 21 Company objectives Optimize performance and stimulate growth Streamline the portfolio of insurance activities Russia, Luxembourg Non-Life, Ukraine Life,Turkey Life Acquire new Grow the core entities businesses in attractive organically or through add-on markets by building on Develop greenfield acquisitions partnerships expertise operations Tesco, Kwik Fit Services, UBI, Aksigorta No priority Castle Cover Optimize the operational performance Restructuring investment portfolio, rate increases in Non- Life,… Your partner in Insurance| 17 May 2011 22 Streamlining of the insurance activities Going forward all our insurance activities have to meet 3 key criteria. Critical size The local presence should be such that every entity can compete effectively in its market or niche Critical size will ensure that each activity is able to comply with Ageas's quality standards Meaningful contribution Each activity should make a meaningful contribution to the insurance earnings The contribution to the insurance earnings should be significant enough to justify management time Return in excess of cost of equity The return of a business will have to exceed the cost of equity, which is estimated to be around 11% today, while taking into account the specificities of the business The return of a growth business will also take into consideration the expected value creation Your partner in Insurance| 17 May 2011 23 We have strong market positions in Europe… In Belgium In UK Life: n°1 position (% FuM) Second largest car insurer 8,000 Others (27.9%) AG Insurance 6,000 (000) 4,000 2,000 Dexia KBC 0 FU Ethias IS BS e t SA s a A en ay ur ea AXA iv C AX R N hw id R Es Av Ag ov ig Pr /H LV Source: McKinsey – Company Data – 2009 data Non-Life : Solid n°2 position (% GWP) In Portugal AG Insurance 5% Others Millenniumbcp 25% Millenniumbcp (15.4%) Ageas Ageas 23% 27% Caixa Seguros Caixa Seguros AXA BES 16% Others 68% Others 52% P&V KBC Ethias Life (% FuM) Non-Life (% GWP) Source: Assuralia – 2010 market shares Source : Company data - 2010 market shares Your partner in Insurance| 17 May 2011 24 10/03/2010 I page 24 …while rapidly strengthening our market positions in Asia Life penetration and size (end 09) China Current position: # 7 overall 40.000 2nd largest foreign invested insurer Singapore Hong Kong Current position: #10 in new business 10th largest foreign invested Life insurance 30.000 Hong Kong company GDP/capita (USD) Thailand Current position: # 3 in Life (10.3% market share) & 20.000 # 5 in Non-Life (3.8%) S. Korea 2nd largest foreign invested Life company Taiwan Malaysia 10.000 Current position: #2 overall, market leader in new Thailand Indonesia business, Takaful and Non-Life Malaysia Largest foreign investor PR China Philippines India Vietnam India - Current position: #17 overall for new business 0% 5% 10% 15% 20% 13th largest foreign investor Premiums to GDP (% ) Source : EIU, Swiss Re Sigma 2009, Business Monitor International Your partner in Insurance| 17 May 2011 25 A broad based distribution capacity Leading banking partners, including: Ageas's distribution snapshot (as % of GWP), 2010* BNP Paribas Fortis (Belgium): # 1 BGL BNP Paribas (Luxembourg): # 1 Millenniumbcp (Portugal): # 2 Affinity Other 1% 13% KASIKORNBANK (Thailand): # 3 Maybank (Malaysia): # 1 Agents 12% IDBI, Federal Bank of Kerala (India) UBI Banca (Italy): # 4 Agent relationships in China, Thailand, Hong Kong, Malaysia, India Brokers 1% Brokers/IFA relations in Belgium, UK, Luxemburg, Bancassurance France, Portugal, Hong Kong 55% Direct operations relations in the UK Affinity partnerships in Europe and Asia, a.o.: − Marks & Spencer, Tesco (UK) * Including non-consolidated joint ventures at 100% Your partner in Insurance| 17 May 2011 26 Distribution through partnerships Key competence and basis for future growth Superior Partnership Skills Partner Selection Top Level Support Customer Focus IT Platform skills Partners are Ability to attract Focus is on Align IT leaders in their and retain customers, not infrastructure market (top 5) appropriate top on products with partner's talent architecture Partners strongly Strong expertise benefit from Ageas leverages in how to Make Ageas insurance best practices leverage the favorite partner distribution across the Group customer base and increase such as ALM (increase share duration of Win-Win competences of wallet) partnership relationships Strong partnership values Long term focus, adaptive to Partner's need and situation – no "one size fits all" Strong Capital Position Your partner in Insurance| 17 May 2011 27 In all our partnerships we strive to… " … select the right partners understanding partner " … focus on the strategic, not the tactical " … base cooperation on customer need, " … build on long term loyalty, not on financial return needs and whether we rationale not short term only have the right solution is more productive in we focus on alignment product sales a pure financial the short and long of core competencies quick returns and motivation will never term inflated commissions result in long term are unstable. Creating partnership that is the platform for a mutually rewarding. wider deeper Ability to evolve and relationship results in be flexible creates the partner having no more value reason to go elsewhere for their insurance needs Your partner in Insurance| 17 May 2011 28 Ageas further develops its insurance activities Increasing importance of Ageas's Retail distribution in UK Acquisition of Kwik Fit Insurance Services in 2010 Insurance intermediary specialised in personal line insurance products primarily through internet distribution Over 600,000 policyholders Around 1,000 staff in the UK Brand names are Kwik Fit, The Green Insurance Company and Express Insurance Contributed EUR 47 mio income, EUR 3.5 mio profit between Aug-Dec 2010 Acquisition of Castle Cover Limited in 2011 UK #3 intermediary specialised in over 50's market segment, providing home, car, travel and pet insurance Over 280,000 policyholders and around 300 staff in the UK Brand names are Castle Cover and Regal Insurance Based on similar business model as RIAS Stable portfolio with continued business growth and significant synergies Consolidation of Ageas's position 4th largest personal lines intermediary 2nd largest intermediary in over 50's segment Creation of a collective base of around 2 million retail customers Your partner in Insurance| 17 May 2011 29 Ageas further develops its insurance activities Entry Turkish Non-Life market through partnership with Aksigorta Formation of a partnership with Sabanci Holding Turkey's leading financial and industrial conglomerate 50/50 partners, each with 31% stake Ageas pays USD 220 million*, corresponding to a premium of 53% above the market capitalisation Positions Ageas as a market leader in Turkish Non-Life insurance #4 position in Non-Life with 8% market share Comprehensive product offering with leading positions in key products Wide distribution network via 1,483 agencies and 39 brokers** as well as having access to Akbank distribution network Strong reputation of Sabanci and Akbank brand names Exclusive access to Akbank's distribution networks Top 3 private sector bank 15 years of exclusive bancassurance agreement with Akbank Second largest distribution network among private sector banks with 873 branches * Or EUR 162 mio; Converted at FX rate of YTL / EUR = 2.04 and YTL / US$ = 1.55 ** As of H1 10 Source: Company annual report, TBB, TSRSB Your partner in Insurance| 17 May 2011 30 Partnerships are value creative Embedded value Embedded value VANB VANB development at Ageas development at TaiPing* at Ageas at TaiPing* In EUR mio** 176 5,236 4,823 121 1,685 1,217 69 66 FY 09 FY 10 FY 09 FY 10 FY 09 FY 10 FY 09 FY 10 Ageas's scope includes consolidated Life operations; China, Thailand, Malaysia & India not included Belgium & Continental Europe down respectively due to lower margins and increased spreads / Lower EV explained by negative impact higher spread depressed economic environment on sovereign debt Asia VANB up overall; Hong Kong as a result of EV China based on data China Taiping Industrial change in expected profit sharing assumption Holdings & external data * Embedded value end VANB at 100% under local methodology ** HKD/EUR 0.0895 at year-end 2009, 0.0963 at year-end 2010 Your partner in Insurance| 17 May 2011 31 Proven skills in product innovation … Ageas's premium inflow 2010* Belgium Free Invest Plan & Fix & Income: Savings products with guaranteed interest rate Smart Invest Bon: capital guaranteed unit-linked products Non-Life Group Life & Health Care: Group Health Care contract for 21% Transportation and Construction sector: > 200,000 affiliates Various new products in Non-Life for retail and SME UK Industry award winning new products: Your Life Plan and Real Life Cover Launched Fleet and Semploy Extra products and enhanced e- trading capability for commercial products Continental Europe Italy: Introduction of TPL deductible in Motor Portugal: Launch of Médis Vintage, a complete health insurance plan for seniors Life Asia* 79% Thailand: Single premium unit linked in co-operation with K-Asset Management, Multiple Critical Illness rider China: "Fulu Shuang Zhi": key product combining whole Life policy with a rider providing death benefits on critical illness India: First Endowment and Money Back plan * Including Non-consolidated partnerships at 100% Your partner in Insurance| 17 May 2011 32 Ageas's total solvency well above required minimum Excess capital of Insurance + General Account of EUR 4.7 bn End March 11 Total available capital Required Regulatory minimum 6.2 3.9 2.2 3.1 0.5 */** 1.6 0.3 1.1 0.7 0.6 0.1 Actual Min Actual Min Actual Min Actual Min 0.1 Actual Minimum Actual Belgium United Continental Asia Insurance General Kingdom Europe Account Total Solvency Ratio 177% 247% 198% 984% 201% * Asia : Investments in partnerships are deducted from Total Capital; given the significant investments in partnerships ** Under local Asian solvency regulation, different valuation rules apply leading to a solvency ratio for AICA of 468% end of March 11. Your partner in Insurance| 17 May 2011 33 General Account Ageas continues to look proactively for solutions for the legacy issues Volatile character of the General Account remains − Intrinsic characteristics of the BNP Paribas call option and RPN(I); RPI − Handling of the legacy issues Litigation risk related to on going investigations − Prudent management in view of remaining uncertainties − Progressive solutions for legacy issues (see FRESH judgment 11 February 2011) Prudent accounting approach, no value attributed to − Provision related to legal disputes on MCS & FCC with Dutch State (in 2010)* Capital and liquidity closely monitored * EUR 362 mio 2009 impairment related to FCC reversed and added as provision related to legal disputes. End 2010 total provision amounts to EUR 2.4 bn Your partner in Insurance| 17 May 2011 34 General Account Legal proceedings & investigations managed in the interest of its shareholders (1) Situation on 16 May 2011 Administrative The Netherlands AFM : fine imposed on Appeal to be filed against decision proceedings 05/02/10 in relation to price Rotterdam District Court sensitive info in June 08 AFM: 2nd fine imposed on Appeal filed before Rotterdam District 19/08/10 in relation to price Court sensitive information in Sep 07 Belgium CBFA re communication in Proceedings ongoing second quarter 2008 Criminal Belgium Investigation ongoing investigation Expert Belgium At request of Deminor re Investigation ongoing investigations transactions Sep/Oct 2008 The Netherlands At request of VEB/ESG re Report filed in June 2010 2007-2008 VEB started legal proceedings to establish mismanagement by Fortis; awaiting judgement Your partner in Insurance| 17 May 2011 35 General Account Legal proceedings & investigations managed in the interest of its shareholders (2) Situation on 16 May 2011 Civil lawsuits Brussels, Modrikamen, re Sep/Oct 2008 Court decision 08/12/09 on competence and Belgium transactions provisional measures; proceedings ongoing Deminor, re alleged Suspended, awaiting outcome of criminal investigation miscommunication Amsterdam, VEB/Deminor, re sale of Dutch Proceedings against Dutch State and Ageas (that The Netherlands activities could be obliged to act against Dutch State); awaiting judgement Stichting FortisEffect, re sale Proceedings against Dutch State and Ageas; awaiting of Dutch activities (provisional) judgement VEB re alleged Proceedings against Ageas, former miscommunication 07-08 directors/executives and banks; initiated Jan 2011 Utrecht, Mr.Bos, re alleged Awaiting pleadings The Netherlands miscommunication Stichting Investor Claims Proceedings announced, no official legal action Against Fortis re alleged against Ageas thus far. miscommunication Financial Brussels, FRESH-holders Positive judgement obtained; no appeal instruments Belgium MCS-holders contesting Initiated Dec 2010 validity of conversion Amsterdam, Initiated by Ageas The Netherlands Claim re MCS Against ABN AMRO; initiated Dec 2010 Claim for reimbursement of Against FCC and ABN AMRO; exchange of written EUR 362.5 mio arguments Your partner in Insurance| 17 May 2011 36 Conclusion 2010, sustained performance in a volatile environment Robust inflow levels in all segments Resilient performance despite volatile market environment in Life & Non-Life Commitment to dividend policy 2011, focus on delivery Make progress on legacy issues Improve operational performance Strengthen Insurance activities Disciplined capital management Prepare for regulatory changes Your partner in Insurance| 17 May 2011 37 Our history Our company Our strategy Our key financials Our share Selected topics Overview gross inflow levels By segment EUR mio FY 10 FY 09 % Q1 11 H2 10 H1 10 Belgium 6,709 6,867 (2%) 1,822 3,207 3,313 Life 5,119 5,352 (4%) 1,311 2,468 2,606 Non-Life 1,591 1,515 5% 511 739 707 United Kingdom* 1,207 913 32% 481 657 461 Life 27 10 178% 10 16 7 Non-Life 1,179 903 31% 471 641 454 Continental Europe 3,933 3,941 0% 789 1,724 2,166 Life 3,490 3,706 -6% 669 1,509 2,059 Non-Life 444 235 88% 120 215 107 Asia ** 6,093 4,070 50% 1,740 2,719 1,946 Life 5,578 3,689 51% 1,612 2,474 1,779 Non-Life 515 381 35% 128 245 167 Total 17,943 15,791 14% 4,831 8,307 7,886 Life 14,214 12,757 11% 3,602 6,467 6,451 Non-Life 3,729 3,034 23% 1,230 1,840 1,435 * Retail distribution not reported at inflow level/ ** All entities at 100% Your partner in Insurance| 17 May 2011 39 10/03/2010 I page 39 Key financial data 2010 EUR mio FY 10 FY 09 Q1 11 Q1 10 Total Inflow (EUR bn) 17.9 15.8 4.8 5.0 Funds Under Management (EUR bn) 78 73 79 75 Net profit Group attributable to shareholders 223 1,210 (154) (201) Insurance 391 505 134 94 General Account (168) 705 (288) (295) Net shareholders' equity 8,247 8,431 7,446 8,641 Belgium 2,632 2,860 2,282 3,170 UK 776 513 751 535 Continental Europe 893 1,002 852 1,031 Asia 1,440 1,204 1,378 1,355 General Account 2,506 2,852 2,179 2,551 Earnings per share (EUR)* 0.09 0.49 (0.06) (0.08) Net Equity per Share (EUR) 3.19 3.41 2.88 3.49 * Based on average number of outstanding shares Your partner in Insurance| 17 May 2011 40 Resilient 2010 Insurance financial results 2009 includes non-recurring elements In EUR mio International 505 Belgium 671 Asia 91 392 564 118 562 Continental 34 Europe 14 94 76 40 UK 51 Belgium 553 488 522 366 264 6 -17 2005 2006 2007 2008 FY 09 FY 10 Incl. EUR 639 mio investment losses New business segments introduced as of Q1 2010 Besides Insurance results, Group result includes net result General Account Volatile character due to mark-to-market legacy assets Your partner in Insurance| 17 May 2011 41 Strong Life contribution despite impact financial markets in 2010 Disappointing Non-Life impacted by higher claims & frequency In EUR mio Life Non-Life Other 505 671 14 75 564 562 392 207 13 61 2 174 464 416 390 501 377 6 156 2005 2006 2007 (150) 2008 FY 09 FY 10 Life : Negative impact financial markets, especially in Belgium, impacted 2008 net result (EUR 639 mio); EUR 77 mio impact in 2009 Compensating impact restructuring measures on 2010 result Non-Life : 2009 & 2010 result affected in Belgium & UK by higher claims frequency & more large claims in both Motor & Fire Retail : Related to retail Insurance Services operations in the UK: growing importance thanks to acquisition Kwik Fit Insurance Services in 2010 and Castle Cover in 2011 * All net profit figures after tax and after minorities Your partner in Insurance| 17 May 2011 42 Ageas's investment portfolio on 31 March 2011 Increased investment in Corporate bonds & equities Fixed Income Investment portfolio (EUR 58.7 bn)* No major shifts in composition 90% portfolio rated A or higher, 97% investment grade Structured Credit Inst Pre-tax unrealized loss end Q1 2011 at EUR 1.2 Corporate 1% bonds bn mainly due to the Belgian, French, Portuguese 34% Real Estate and German government bonds & lower valuation 7% corporate bonds Equities Equities Up to EUR 2.4 bn despite CPPI triggered sales 4% Pre-tax unrealized gains at EUR 149 mio Sovereign bonds Real Estate 54% Pre-tax unrealized gains slightly up to EUR 1.0 bn Total pre-tax unrealized gain on investment portfolio breakeven (EUR 1 mio) * At fair value (incl. Interparking) Your partner in Insurance| 17 May 2011 43 43 Belgium, combined ratio substantially better Especially Motor improved, Fire better but still too high Combined ratio AG Insurance FY 2006 – Q1 2011 Operational performance significantly better Less weather related events in Q1 2011, contrary to Q110; Tail end bad weather end 2010 & snow January 11 led to additional claims cost 113 .6 % Motor performance benefited from tariff increases 2009 & 10 7 .4 % 10 0 .3 % 10 0 .8 % 10 3 .1% 10 0 .9 % 2010, adapted product features & improved claims frequency. 9 9 .0 % CR Q1 2011 at 94.9% vs.112.7% in Q1 2010. 3 7 .0 3 6 .4 Workmen's Compensation benefited from a positive prior year 3 6 .7 3 5 .9 3 6 .8 3 6 .7 3 7 .4 claims result. PY loss ratio release of -8.6% vs.-5.1% in Q1 2010 Corrective set of measures taken Motor : tariff increases of 4.5% in 2011, adapting product 7 1.0 7 6 .6 6 1.6 6 3 .6 6 4 .9 6 6 .3 6 4 .2 offering as from Jan 2011 Fire: impact of prior year tariff increases start to pay off Workmen's Compensation: 2.5% tariff increase as from Jan 2011 2006 2007 2008 2009 2010 Q1 10 Q1 11 Favourable evolution but further progress possible Combined ratio Q1 2011 excluding Workmen's Compensation Claims ratio Expense ratio at 100.1% vs.110.8% in Q1 2010 Combined ratio Workmen's Compensation at 106.8% vs. 134.3% benefiting from positive prior year claims result * Impact on technical result AG Insurance from storm & CATNAT coverage before tax, reinsurance and non-controlling interests Your partner in Insurance| 17 May 2011 44 UK strong progress in Motor, Household impacted by prior year claims Combined ratio in Continental Europe up as well, due to weather conditions Combined ratio UK FY 2006 – Q1 2011 UK : continued positive impact from corrective measures Improved overall combined ratio at 106.0% including Tesco Underwriting Selected tariff increases in 2010 in line with underlying risk resulted in an improved Motor combined ratio (100.3% vs 111.9% in Q1 10 7 .4 % 10 8 .1% 10 9 .5 % 110 .2 % 2010) 10 6 .0 % 9 8 .4 % 10 1.9 % 2 8 .0 3 0 .2 PY loss ratio charge of 3.4% vs. 0.5% in Q1 2010 2 7 .7 2 7 .7 2 7 .6 2 8 .2 2 8 .8 Household combined ratio at 121.9% taking into account prior year claims ratio of 17.9% (Q1 2010 110.0%). Travel combined ratio (106.7%) improved from Q1 2010 (115.2%); continued rating actions being taken 7 9 .7 8 0 .4 8 1.5 8 0 .0 7 8 .4 7 0 .2 7 3 .1 Other segments : combined ratios remain below 100% Continental Europe: 99.4% 2006 2007 2008 2009 2010 Q1 10 Q1 11 Portugal : combined ratio at 95.8% vs 96.8% in Q1 2010) Italy : first impact of implemented corrective measures noticeable Claims ratio Expense ratio Asia : 89.6% Your partner in Insurance| 17 May 2011 45 General Account Result impacted by charge MCS conversion & legal disputes Dutch State FY 2010 net result of EUR 168 mio negative (incl. eliminations) EUR 203 mio charge related to MCS conversion & legal disputes with Dutch state EUR 131 mio positive result related to RPI EUR 271 mio negative charge related to RPN(I) EUR 44 mio net-of-tax negative impact revaluation call option on BNP Paribas shares EUR 405 million positive tax impact related to the liquidation Fortis Brussels (as announced in H1 10) Other General Account items Net interest margin EUR 16 mio negative Staff & administrative expenses nearly halved to EUR 58 mio Net capital gain of EUR 7 mio on divestments Insurance activities Net cash position of EUR 2.2 bn end of 10 (vs. EUR 2.8 bn end 09) Legal proceedings and investigations Administrative proceedings for Belgium: FSMA, for the Netherlands: AFM Criminal proceedings: investigation ongoing Expert Investigations for Belgium: Modrikamen and Deminor, for The Netherlands: VEB/ESG Financial Instruments: proceedings in relation to MCS Your partner in Insurance| 17 May 2011 46 Overview of main characteristics Hybrids Situation as per 31 March 2011 Ageas ageas Finance, Ageasfinlux Ageas Hybrid Ageas Hybrid Ageas Hybrid Senior Financing Financing Financing EUR mio outstandings Fresh Hybrone Nitsh I Nitsh II % 3m EUR + 135 5.125% 8.25% 8% Amount 549 1,250 500 USD 750 625 ISIN EMTN XS0147484074 XS0257650019 XS0346793713 XS0362491291 Call date Debt in default, Undated Jun/2016 Step up to Aug/2013 Jun/2013 early redemption at exchange 3M Euribor+200 No step up No step up first request of strike 31.50 bondholders mandatory 47.25 ACSM YES YES YES YES Dividend pusher YES YES YES YES Dividend stopper NO YES YES YES Trigger < 0,5% Liabilities > asset Liabilities > asset Liabilities > asset dividend trigger Other 500 USD 750 250 on lent to on lent to AG on lent to FBB AG Insurance;375 Insurance on lent to FBB Market Price 55.87 75.35 100.6 98.75 (31/03/11) Your partner in Insurance| 17 May 2011 47 Overview of main characteristics Hybrids (ct'd) Situation as per 31 March 2011 Fortis Bank Nederland (currently ABN AMRO) Fortis Bank (currently BNP Paribas Fortis) Direct issue FBB, Direct issue FBB, EUR mio FCCL MCS 2001 2004 CASHES % 3m EUR +260 8.75% 6.5% 4.625% 3m EUR +200 Amount 450 2,000 1,000 1,000 3,000 ISIN GB0057047275 XS0328920862 BE0117584202 BE0119806116 BE0933899800 Call date Exchanged as per 26 Sep 2011 Oct/2014 Undated exchange 7-12-2010 Step up to 3M Step up to 3M strike 23.94 into 106,723,586 Euribor+237 Euribor+170 mandatory 35,91 Ageas's shares ACSM YES YES YES Dividend pusher YES YES NO Dividend stopper YES YES YES Trigger <5% T1 YES <0.5% Dividend <8% CAD See legal section Other for status If not called, No stock Coupon served by Contingent Liability holders can opt to settlement feature FBB, however, trig- exchange in Ageas as for Direct issue ger ACSM linked to shares** FBB 2001 dividend Ageas Market Price - - 98.64 89.53 62.80 (31/03/11) * Only in case of an accelerated conversion ** Because of insufficient authorised shares, Ageas can exchange for cash BNB consents; If no consent, instrument remains outstanding with no liability for Ageas Your partner in Insurance| 17 May 2011 48 Shareholders' equity suffering from unrealized gains on bonds portfolio Volatilitiy across the year due to volatile financial markets Shareholders' equity / share FY 2009 FY 2010 Q1 2011 EUR 3.41 EUR 3.19 EUR 2.88 (168) 203 391 (550) 134 129 (188) (288) (543) (104) 8,431 8,247 7,446 7,519 s s d 11 e e 09 se 10 t t er er in in en un un nc nc th th ea ga ga 20 20 co co FY vid ra ra O O cr su su ed ed 1 Ac Ac FY Di & & l in Q In In is iz ge ge al al 09 al al ta lt lt er er an an re re 20 pi su su en en Ca un un ch ch re re G G ex ex t t ge ge Ne Ne lt lt su su n n an an ig ig re re Ch Ch re re t t Fo Fo Ne Ne * Related to the conversion of MCS financial instrument Your partner in Insurance| 17 May 2011 49 Ageas's capital of a high quality Situation as per 31 December 2010 EUR bn FY 10 FY 09 Reported net Shareholders' Equity 8.2 8.4 Unrealised gains real estate 0.5 0.5 Goodwill (incl RPI) (1.8) (1.4) VOBA (Value of Business Acquired) (0.5) (0.5) DAC (Deferred Acquisition Cost) (0.6) (0.5) Other* (0.4) (0.2) Goodwill, DAC, VOBA related to N-C interests 0.4 0.4 25% tax adjustment DAC, VOBA & Other 0.3 0.3 Tangible net equity 6.2 6.9 Tangible net equity 76% of reported net shareholders' equity * Includes a.o. management contracts of public car parks Your partner in Insurance| 17 May 2011 50 10/03/2010 I page 50 Discretionary Capital of the General Account A view on liquidity & capital In EUR bn, 31 March 2011 Assets Liabilities Net Cash/ deposits : EUR 2.1 bn Cash & Deposits at banks 2.6 ST (EMTN + Bank) 0.5 Passed on Due from Fortis Bank & AG Ins 1.7 NITSH I, II & Hybrone 1.7 MCS / FCC Claim ABN AMRO Bank 2.4 Provision Dutch State 2.4 LT assets & LT liabilities Other 0.7 Other 0.7 RPN(I) 0.7 Discretionary Capital on balance sheet Royal Park Investments 0.9 FRESH 1.2 Call option on BNP P shares 0.6 Net equity 2.2 Loan to operating cies 0.5 Balance sheet total 9.3 9.3 Shareholders' equity + FRESH 3.4 Invested in non-current assets on balance sheet (2.0) Total Capital 1.4 Contingent asset off balance (Fortis Bank Tier 1 loan due Sep 11) (1.0) Dividend 2011 upstream & M&A commitments (0.2) Discretionary Capital * (if available in cash) 0.2 Q1 2011 evolutions: Discretionary capital down with EUR 0.2 bn, mainly from EUR 0.5 billion end 2010 to EUR 0.2 billion at the end of the first quarter, mainly as a result of the increased fair value of the RPN(I) liability and the acquisition of Castle Cover in the UK mid March 2011. * Ageas defines discretionary capital as the lower of the available cash and total capital of the General Account corrected for (contingent) illiquid assets and existing investment commitments Your partner in Insurance| 17 May 2011 51 Our history Our company Our strategy Our key financials Our share Selected topics Our share (ticker 'AGS') General information Total number of outstanding shares end 09 2,516,657,248 Including shares issued for FRESH 39,682,540 Including shares issued for CASHES 125,313,283 Total number of outstanding shares end 10 2,623,380,817 Including shares issued on 07/12/10 related to conversion MCS 106,723,569 Total number of effective and potential shares 2,648,068,387 Including shares in connection with option plans 24,687,570* Shares related to CASHES and FRESH not entitled to dividend and voting rights 164,995,823 Total number of effective shares entitled to dividend & voting rights 2,458,384,994 Par value ageas SA/NV and ageas N.V. share equal at EUR 0.42 per share Authorised capital of EUR 84,0 mio approved at shareholder's meeting April 2011 Specifically related to cover the commitments taken in the context of the issue of the hybrid financial debt instruments * Number decreased from 42,050,199 last year following expiry of options Your partner in Insurance| 17 May 2011 53 Shareholder structure overview Per type Per country December 2010 based on 2,623,380,817 shares Ping An 4.61% Fortis Bank SA/NV 4.78%* Rest of World 15% China 5% Retail Benelux Other Europe Belgium 29% +/- 26% 12% (incl retail) France 4% Germany 3% The Netherlands 8% (incl retail) UK 24% Other Institutionals +/-65% * 125 mio shares related to CASHES financial instrument; shares without dividend and voting rights Source: Company data based on shareholder's identification Your partner in Insurance| 17 May 2011 54 An extensive international sell-side coverage Country Company Analyst Autonomous Research Farquhar Murray Nomura Nick Holmes Credit Suisse Merryleas Head Deutsche Bank Robin Buckley Goldman Sachs Johnny Vo UK JP Morgan Duncan Russell KBW William Hawkins Macquarie Chris Esson Bank of America Merrill Lynch Michael van Wegen Morgan Stanley Farooq Hanif SG Securities William Elderkin Bank Degroof Thibaud Rutsaert Belgium KBC Securities Dirk Peeters Petercam Marc Debrouwer Cheuvreux Hans Pluijgers ING Albert Ploegh Kempen & Co Ryan Palacek The Netherlands Kepler Benoit Pétrarque Rabo Cor Kluis RBS Thomas Nagtegaal Exane BNP Paribas Francois Boissin France Oddo Securities Nicolas Jacob Alpha Value Jerome Cassagne Your partner in Insurance| 17 May 2011 55 Ageas's dividend policy New dividend policy published in September 09 Intention to pay a regular dividend based on the net profit of the insurance activities Targeting a pay-out ratio of 40-50% On an annual base Cash dividend Proposed dividend over 2010 of EUR 0.08/share accepted Expected payout of 50% In line with 2009 dividend & renewed dividend policy Payable as of 30 May 2011 Dividend related to call option on BNP Paribas shares Any gain related to exercise/monetisation call option during the exercise period In addition to regular dividend To comply with requirements European Commission Your partner in Insurance| 17 May 2011 56 Financial Calendar 2011 9 March 2 May 20 May 24 August 9 November Annual results 2010 Ex-dividend date – End of dividend First half Q3 11 Interim Start dividend election period election period results 2011 financial statements 4 May Record date 27 April 28 April 18 May 31 May 29 September Annual Annual Q1 11 Interim Payment 2010 Investor Day shareholders' shareholders' meeting meeting financial dividend London Brussels Utrecht statements Your partner in Insurance| 17 May 2011 57 Our history Our company Our strategy Our key financials Our share Selected topics Four cases illustrate the partnership strength (1/4) Portugal's leading Bank: an exclusive partnership with Ageas since 2005 (for 25 years) Partner Selection Top Level Support Customer Focus IT Platform skills +3 mio CEO, CFO Continuous Insurance core customers supplied by monitoring of systems supplied Ageas customer by JV > 900 branches behavior Matching of All other Committed to organization at Each of 9 systems: by bank bancassurance all levels marketing cycles partner, fully has 2 insurance integrated products Penetration rates of insurance products have increased to levels that are among the European best in class: Penetration (clients)* (%) 34.9 Resource penetration**: from 27.6% in 2009 to 30.5% in 2010 33.7 33.0 32.2 31.3 Average number of policies per client from 2.63 in 2009 30.1 to 2.67 in 2010 * % of bank customers with insurance products 2005 2006 2007 2008 2009 2010 ** % of funds originating from insurance products grow Your partner in Insurance| 17 May 2011 59 Four cases illustrate the partnership strength (2/4) Malaysia's leading Bank: Ageas partner since 2001 Partner Selection Top Level Support Customer Focus IT Platform skills 8 mio customers CFO, CMO, Integrated Redesigned Retail channel manager customer file for Banking Platform 334 branches and asset 8 mio Maybank to integrate Largest bank in manager customers insurance as core Malaysia supplied by product Strong product Ageas innovation Integrated front- Continuous office, STP and transfer of commission expertise system Results Developed Maybank Ageas into the leading 5,000 CAGR of inflow and contribution: 28% 400 insurance player 4,500 350 4,000 300 From #7 to #1 in Bancassurance, Takaful and 3,500 250 General Insurance 3,000 2,500 200 #2 in overall GWP 2,000 150 1,500 100 Life Insurance penetration from 5% to 12% 1,000 50 500 Successful launch of new brand and culture: the 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 eTiQa way grow Inception of JV with Ageas Your partner in Insurance| 17 May 2011 60 Four cases illustrate the partnership strength (3/4) Age UK partnership with Ageas UK Partner Selection Top Level Support Customer Focus IT Platform skills UKs leading charity State of the art Build bespoke Ageas supplies for the aged risk management Car, Household point of sale and underwriting and Travel systems for Age Reach over 5 solutions for all UK Outlets million of older Deep expertise in segments people with age group (RIAS Ageas supplies services and & Castle Cover: No hard sale call centre and products Ageas insurance internet services Hassle free, for over 50) Growing target emphatic service group Results Excellent results are produced State of the Art conversion rates Growing pool of 500,000 policyholders 50 Good add-on sales penetration such as, Motor legal expenses purchased on over 90% of policies Average retention rate of 80% Motor, 90% Household 25 25 Average combined Ratio of 97.1% Oct-Dec 2010 Recognised by Institute of Customer Services as leading call centre in financial services market Motor Household Ageas is centre of competence and preferred partner for affinity grow partnerships. Your partner in Insurance| 17 May 2011 61 Four cases illustrate the partnership strength (4/4) Bank and broker channel cooperation at AG Insurance Partner Selection Top Level Support Customer Focus IT Platform skills Push client to SME customers Leverage on Brokers and Bank insure with AG are offered AG existing core are encouraged to Insurance Insurance Non- Broker Non-Life cooperate Life products Push client to Specific lead packages Objective: supply bank with BNP follow-up tool brokers with SME Paribas Fortis Attractive product available to bank Non-Life leads package branches Transfer clients (Modulis VIP) from competition Results Showcase of two (potentially competing) channels Significant success working together > 34,000 leads received by end March 2011 Cooperation inducing commission system, involving: > 15,300 Modulis VIP files in portfolio >more than 1,000 BNP Paribas Fortis branches >3,000 brokers 45% conversion on broker leads (out of max. 4,000 professional active brokers) 22% of new Modulis files originated by cooperation model grow Your partner in Insurance| 17 May 2011 62 Product Innovation – Belgium The award-winning* Modulis VIP Model synergy Banking clients Insurance relationships Modulis VIP strategy will … AG Insurance Push the business client to insure his risks Through Broker with AG Insurance, respecting his current 130,000 broker relation (if any) BNP Paribas Fortis Stimulate the client of the broker to choose 400,000 BNP Paribas Fortis as banking partner Other Cies Through Broker Cut the current insurance relationship with the competition (Ethias, KBC, etc.) Other that might endanger the banking Banks relationship Other Propose to these clients without broker Channels the services of a broker 800,000 800,000 Bank receives commission for generating leads to the broker Modulis VIP client enjoys higher no-claim bonus *AG Insurance is proclaimed the winner of the Decavi 2011 Distribution Award and received praise for its Modulis VIP concept that creates significant synergy between brokers and BNP Paribas Fortis bank branches Your partner in Insurance| 17 May 2011 63 Product Innovation – UK Non-life Life Q1 2010 : Fleet Guard launched Q1 2010: 'Whole of Life' protection insurance Q2 2010 : New Semploy Extra launched product launched– aimed at the over 50s Q3 2010 : RiskSTOP ASSIST 010 launched Q2 2010: Best Doctors added to Critical Illness, Income protect and Real Life Cover Extending Commercial Lines capabilities plans New commercial underwriting and business Q1 2011: 'Low Start' launched – structure Comprehensive term and critical illness cover at a price designed for the current economic New Partnerships climate Tesco Underwriting (Joint venture with Tesco Bank) Aioi Nissay Dowa Insurance Company of Europe Ltd and their client Toyta (GB) PLC Active claims management Launch of an online platform of Glass Vehicle Analysis enabling a more accurate valuation of the vehicle Your partner in Insurance| 17 May 2011 64 Ageas recorded a EUR 2.4 bn provision related to its legal disputes with Dutch State on MCS and FCC ORIGIN Mandatory Convertible Securities (MCS) Since December 2007, Fortis Bank Nederland (FBN)* has on its balance sheet a EUR 2 bn bond convertible into Ageas shares. This instrument was issued in order to finance the acquisition of certain parts of ABN AMRO and with the co-guarantee of Fortis (now Ageas) and BNP Paribas Fortis Based on the underlying conditions, the bond has been converted into 106.7 mio of new Ageas shares on 7 December 2010 in exchange of which FBN will have to issue EUR 2 bn of shares of FBN in favour of Ageas This compensation is contested by the Dutch State, legal owner of ABN Amro ORIGIN Fortis Capital Company (FCC) In 1999, Fortis Capital Company, a subsidiary of FBN, issued financial instruments with the co- guarantee of Fortis (now Ageas) In 2009, Ageas has been held responsible based on contractual obligations to redeem the instrument. Ageas paid EUR 362 mio in cash to the preference shareholders FBN refuses any kind of compensation Ageas has launched a legal procedure on the merits at the Commercial Court in Amsterdam in order to obtain a full compensation for the amount paid ACCOUNTING General provision of EUR 2.4 bn, covering disputes with Dutch State. P&L cost of EUR 203 mio related to MCS conversion end 2010. Shareholder's equity neutral. * Now part of ABN Amro Your partner in Insurance| 17 May 2011 65 Tier 1 Debt BNP Paribas Fortis 2001 ORIGIN In 2001, Fortis Bank issued a subordinated Tier 1 bond for a total amount of EUR 1 bn, co-guaranteed by Fortis (now Ageas) Based on the underlying contractual conditions, bondholders can ask Ageas to be redeemed, if BNP Paribas Fortis would decide not to redeem at the first call date in September 2011 Ageas can choose to issue new shares or redeem in cash. In exchange Ageas will receive a Tier 1 bond on BNP Paribas Fortis with a variable interest rate Call date: 26 September 2011, with 60 working days notification period by BNP Paribas. ACCOUNTING Off balance sheet commitment, taken into account for the calculation of Discretionary Capital Your partner in Insurance| 17 May 2011 66 Valuation call option on BNP Paribas shares without taxes Valuation methodology The cash-settled call option allows Ageas to benefit from any appreciation in the value of 121,218,054 BNP Paribas shares held by the SFPI/FPIM Ageas has undertaken to propose to pay out as dividend the benefits to the extent permitted by law and taking into account practical constraints Parameters Black & Implied volatility (consensus) up from 33% to 30% Dividend yield up from 5.29% to 5.53% Scholes Strike price unchanged at EUR 66.672 per share Excercise period from 10/10/10 til 09/10/16 Exercise strategy At the end of June 2010 Ageas has opted to move to a gradual exercise strategy in accordance with a disciplined methodology over the contractually foreseen exercise period; ► use volatility without a 7%-size-discount Sensitivities Volatility +5% ► total value option +28% A decrease of the dividend yield to 5%, other inputs remaining equal ► total value option +7% An increase of the dividend yield to 6 %, other inputs remaining equal ► total value option -7% Value as per 31/03/11 EUR 873 mio total value option as at 31 March 2011 ► 30% haircut maintained for non standard features ► Valuation* call option on BNP Paribas shares estimated at EUR 611 mio * sub-holding Fortis Brussels SA/NV was liquidated at the end of 2010 leading to a deferred tax asset used to offset deferred tax liabilities on the call option Your partner in Insurance| 17 May 2011 67 RPN(I) ORIGIN Instrument leading to a quarterly interest payment to or from BNP Paribas Fortis, based on : The market value of CASHES, a Tier 1 debt instrument held by BNP Paribas Fortis The Ageas's share price The interest payments by Ageas to BNP Paribas Fortis are guaranteed by the Belgian State against the payment of a premium by Ageas to the Belgian State (cost guarantee included in RPN(I) since 30 June 10) ACCOUNTING Valued with the help of third party experts, seen the complex character of the instrument Valuation RPN(I) Q1 2011 EUR 722 mio Your partner in Insurance| 17 May 2011 68 Fair value interest mechanism related to RPN(I) Valuation methodology Net discounted value all future interest payments until a potential reimbursement of the CASHES No change to methodology applied as per end 09 (based on valuation techniques for financial derivatives) Decision to include additional cost related to guarantee Belgian State as per 30 June Drivers quarterly interest Evolution Ageas's share price Evolution theoretical market value CASHES payments Evolution short term interest rate Conversion option embedded in CASHES Assumptions Ageas's share price (B-S model) : − EUR 2.01 per share (closing price 31/03/11) − Dividend yield of 4.0% − Share price volatility of 41% (based on implied volatility end March 2011) LT-value CASHES: − 62.8% of par (closing price 31/03/11) vs 50.2% end 10 − Evolution based on forward spread curves LT i-rate: Standard arbitrage-free i-rate model Valuation EUR 621 mio negative mark-to-market value RPN(I) ► EUR 722 mio EUR 101 mio negative for guarantee Belgian State Cash interest cost Q1 2011 : EUR 2.5 mio to Fortis Bank Belgian State guarantee costs Q1 2011: EUR 1.4 mio to Belgian State Sensitivities Valuation model most sensitive to price CASHES CASHES +/- 10% (to 53% or 73%) : EUR 541 mio < RPN(i) < EUR 904 mio Detailed sensitivity analysis : see Annual Financial Statements 2010 Your partner in Insurance| 17 May 2011 69 Royal Park Investments SA/NV ORIGIN Balance sheet items as per 31 March 2011 Dismantlement structure with respect to assets of Fortis Bank, part of the sale of Fortis Bank to Nominal outstanding EUR 14.8 bn value of the assets BNP Paribas IFRS fair value of the Shareholders : Ageas (44.7%), Belgian EUR 7.0 bn assets State (43.5%) and BNP Paribas (11.8%) Outstanding debt EUR 6.5 bn More than 40% of the portfolio has a rating Senior debt EUR 2.1 bn Commercial paper EUR 4.4 bn superior or equal to BBB- (investment grade) Income Statement related information Q1 2011 Limited equity investment, major part debt Interest payments EUR 37 mio financed Principal redemptions EUR 308 mio All proceeds will be 100% used to redeem Result accounted for the debt related to Royal Park Investments EUR (12) mio by Ageas under IFRS (cash sweep) ACCOUNTING Income Statement related information FY 2010 Interest payments EUR 169 mio Accounted as an equity investment of EUR 760 million, increased to EUR 913 mio as Principal redemptions EUR 1.5 bn per 31 March 2011 Result accounted for EUR 131 mio by Ageas under IFRS Your partner in Insurance| 17 May 2011 70 Funding structure Royal Park Investments (under BGAAP) As per December 31, 2010** (EUR mio) State of Belgium (SFPI/FPIM) Capital 740 200 760 1,700 (44%) (12%) (45%) Retained Earnings 375 375 Senior * 519 519 Commercial Paper 4,387 4,387 Super Senior 1,620 1,620 Total Capital & Debt 740 719 760 1,620 4,762 8,601 * End of February 10, senior debt Fortis Bank fully replaced by commercial paper program, benefiting from a Belgian State Guarantee. Senior debt provided by BNP Paribas is not state guaranteed ** For more information see www.royalparkinvestments.com Your partner in Insurance| 17 May 2011 71 For more information on Ageas's 2010 performance …see web based Annual Review 2010 (ar.ageas.com) Your partner in Insurance| 17 May 2011 72 Your Ageas's contacts Investor Relations + 32 2 557 57 33 + 31 30 2525 379 e-mail:firstname.lastname@example.com Media + 32 2 557 57 37 e-mail:email@example.com Website:www.ageas.com Your partner in Insurance| 17 May 2011 73
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minutes ago !
(TREX) look at the magnitude of the drop...
Minor rally appears to be over as today we have broken lower than the two previous days' lows.
Now we should be heading into the low $70's as the next stop, as expected.
Sentiment: Strong Sell
He may buy more shortly!
He hasn't been kored like you.
He may not be shortly !
where it was growing rapidly a few years ago.
60's are coming real soon to axp imo I don't see any way out of it.
it is 76.12 this am I will reference this post when it hit's the 60's
Same reason KORS is up. Over sold ...Ben Dover and enjoy!
I haven't checked,and I bet it isn't down a $1.
missed huge a lot of high end and other retailers warning as retail sales are negative !
why is axp up ?
in this Stock.What slowdown?
She'll blow on it for a fee.
Hire Louise 'buffalo breath' Yamada to breath on AXP's chart.
Mark my word...you will probably lose on a short.
74.3 was the reaction low.
Good luck...i could be wrong
Low 70's here we come.
Sentiment: Strong Sell
maybe amx should be on a black list for taking a bailout and then paying the chairman a 16mil bonus? this co is garbage and their products are garbage. visa is killing them. they are the new comcast: turn them off, like cable.
I think he bought it about $20 cheaper or more!!
Interest rates up-good for AXP...so Wallace might not sell.
so you are saying because he got it so cheap he should lose all of his gains by riding it back down ?
The charts don't lie....down she goes. Next downside target appears to be $71-$72.
Sentiment: Strong Sell
bend dover...you're being kored!
Warren Buffet bought AXP very cheap many years ago.
Earth to Ben Dover!!
It can buy back more shares cheap. No wonder the EPS has been increased by analyst. Great profit as spending is up for consumers in US.
Sentiment: Strong Buy
I would not be surprised to see him reduce or eliminate american express from his portfolio all it would take is getting his card rejected once someplace or someplace telling him if he uses another card he would save money...
Nice call Miss Yamada.

subset: commoncrawl


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Ace Hood – Have Mercy
New Ace Hood video off his upcoming album Trials & Tribulations out July 16.
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"Me and Kendrick on 'Autumn Leaves,' it's more of a sit in your car and ride-to record. It's a real laid-back record, but it's also a substance record. It's basically saying [that] you put in so much to get so little. Whether it be in relationships or just in life, you work hard for something all the time and get so little, but you still hold on, like the last leaf in autumn."
Rich Boy is getting ready to drop his second album, Break The Pot, after a 6 year hiatus. The LP drops April 9th, in the meantime check out the album sampler below.
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Beyonce and Jay-Z celebrate their fifth wedding anniversary in Havana, Cuba
This is a new group comprised of Lt. Lotto, Moolah Manz, and DottieO. Their mixtape, Pay Homage, features them going IN over classic instrumentals. Download link after the jump. (more…)


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Seibertron.com - The Ultimate Transformers Fansite
Mkall wrote:Looking at it, his Bazooka with sniper stand is one of the few redeeming qualities of this guy in my opinion.
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Leave it to Dead Metal to have the word 'Pronz' in his signature.
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Swaminathan S. Anklesaria Aiyar
Swaminathan S. Anklesaria Aiyar
Feb 11th
We are on the verge of a revolution worth half a trillion dollars. After almost a decade of effort, India is about to move to a unified Goods and Services Tax (GST) to replace the current plethora of central and state indirect taxes. The Empowered Committee of State Finance Ministers is giving finishing touches to More >
Feb 8th
High foreign exchange reserves have, in the current global recession, saved Asian countries (including India) from the travails they suffered in the Asian financial crisis of 1997-2000. So, they must aim for rising forex reserves in future too, right? Wrong. In truth, high Asian forex reserves are an important reason for the current recession. High More >
Jan 28th
Governments across the globe are using Keynesian stimuli to revive drooping economies. Even George Bush has presided over the greatest stimuli in US history, with a projected fiscal deficit of $ 1.2 trillion and monetary injection of almost $ 2 trillion by the Fed. But is the recession Keynesian? Trillions of dollars of stimuli have More >
Jan 25th
India may have become a miracle economy since 2003, but its largest state, Uttar Pradesh, remains mired in poverty and slow growth. Many people despair of progress in this slough of despond. Yet let me stick my neck out and say that UP is on the verge of economic take-off. I base this prediction on More >
Jan 18th
Government spokesmen claim that, after dipping in 2008-09, the economy will accelerate again next year. But some of the world's top economists opined at last week's Neemrana seminar that the global economy might get worse rather than better in 2009, affecting India too. Analysts thought initially that the global recession would end by mid-2009. After More >
Jan 14th
The global recession is going to be worse than expected. The developed countries as a whole will suffer a fall in GDP in 2009, the first fall since World War II. India cannot escape the global downswing. But the mid-term review of the economy, presented recently to Parliament, claimed that India would prove more resilient More >
Jan 11th
Satyam Computers is the Enron of India. Like Enron, Satyam was one of the biggest and most feted companies. Like Enron, Saytam perpetrated a balance-sheet scam with the support of supposedly world-class auditors. Like Enron, Saytam stands exposed as a gigantic fraud, and faces lawsuits galore. Yet while Enron deserved to die, Satyam deserves to More >
Jan 4th
Has the terrorist attack on Mumbai wrecked the economy and led to a flight of foreign institutional investors (FIIs), as was feared after 26/11? Not at all. Foreign portfolio investors have adopted Nathan Rothschild's maxim that the best time to buy shares is when blood runs in the streets. On November 28, in the middle More >
Dec 21st
How hard will India's economic growth be hit by the global financial crisis and recession? Widely varying forecasts for the next financial year, 2009-10 have been made by three leading economists—Arvind Virmani, Chief Economic Advisor of the government; Raghuram Rajan, Economic Advisor to the Prime Minister; and Rajiv Kumar, head of the Indian Council for More >
Dec 14th
Will the government's economic rescue package revive the economy, which is caught in the throes of a global recession? Alas, no. The rescue effort is the equivalent of giving aspirin to a patient suffering from malaria. This may reduce the patient's temperature and make him feel better than otherwise. But it will not end the More >
Dec 7th
After the terrorist attack of 26/11, the mood and rhetoric in India are reminiscent of the US after 9/11. As in the US then, outraged Indians swear "never again." The phrase "War on Terror," invented in the US after 9/11, is now being used widely in India. This is a dangerous, militaristic mood. It led More >
Dec 3rd
After the Mumbai terrorist attack, every Tom, Dick and Harry has become a counter-terrorism expert. Drawing room experts and newspaper columnists hold forth on how incompetent the authorities are, and how the attack could have been foiled if only this strategy or that institution had been in place. Alas, modern technology and communications are every More >
Nov 30th
A story doing the rounds in New Delhi is that the Congress Party has commissioned a secret opinion poll for the coming state elections, which predicts that the BJP will be voted back to power in Madhya Pradesh and Rajasthan, while the Congress will retain power in Delhi. This opinion poll suggests that incumbents will More >
Nov 19th
Across the globe, politicians from Manmohan Singh to Barack Obama plan to boost government spending to revive flagging economies. Especially popular are big infrastructure projects, widely seen as an excellent way to give a Keynesian boost to economies. Yet this represents a misunderstanding of Keynes. In a recession, many things fall together—production, employment, prices and More >
Nov 16th
The world is still marveling at the political revolution represented by Barack Obama becoming the first black US President. But while that celebration continues, some readers must be wondering about the next possibility—when will a person of Indian descent become President of the US? This issue is not fantasy. It is in fact quite topical, More >


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- Tara Preserve
- Terraces at Tara
- The Inlets
- The Waterway
- Tidewater Preserve
- Timber Creek
- University Park Country Club
- Village Green
- Vizcaya
- Waterlefe
- Westwinds Village
- Woodlands Park
- Academy Park Villas
- Bay Pointe at Cortez
- Bayshore on the Lake
- Belair Bayou
- Braden River Lakes
- Briarwood
- Burgundy
- Champions Walk
- Coquina Beach Club
- Coral Shores
- Country Village
- Creekview
- Creekwood
- Cypress Strand
- El Conquistador Country Club
- Fairway Acres
- Flamingo Cay
- Glenn Lakes
- Greenfield Plantation
- Harbor Hills
- Heritage Harbour
- Heritage Village West
- Heron's Watch
- Hidden Lake Condominiums
- Historic Braden Castle
- Lakebridge
- Lakeside South
- Lakewood Ranch
- Larmarie Shores
- Lincoln Arms Park
- Mandalay
- Meadowcroft South
- Mirror Lake
- Palma Sola Bay
- Palms of Cortez
- Paradise Bay
- Perico Bay Club
- Perico Island
- Peridia Country Club
- Pine Bay Forest
- Pine Lakes
- Pinebrook Ironwood
- Private Homes
- Promenade at Riverwalk
- Raintree
- Regal Oaks
- River District
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This property allows you to book online with a credit card. After submitting a reservation request, the owner or manager has 24 hours to accept, at which time your card will be charged and you will receive an email confirmation
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"This home was very spacious and very nice. We enjoyed our stay very much and would most definitely stay again. It's right down the road from the red barn flea market which we enjoy going to on each trip to Florida. Easy access to 301 and I75. Lots of stores and restaurants nearby. Very nice communal pool which is well underused."Guest: cindy p. Date of Stay: April 2015 Review Submitted: April 21, 2015View listing
"Great place to chill, raining or not.This villa is well located for you just to lie back ,swim or spa. We had a small reason to call management company due to two of the mesh panels around the pool burst ( not our doing ) This was well handled and fixed in no time at all,😀😃😀 We even got great tips from the handy man where to visit. Very well mannered Young man. You will have nothing to fear staying here.. Apart from my jealousy. Ha ha"Guest: peter w. Date of Stay: September 2014 Review Submitted: October 5, 2014View listing
"The house was beautiful, well appointed and so comfortable. It felt like home! Loved the pool after a hot day at the beach, it was so relaxing. Was able to walk to shopping and very good restaurants ( Hurricane Grill was my favorite). Can't wait for a return trip for an anniversary!! Thank you so much!"Guest: Bobbi-Jo Date of Stay: June 2015 Review Submitted: June 27, 2015View listing
"We stayed here for a week in mid July, and we had a wonderful time. The house is amazing, and has everything you need - and more. We loved the poolarea, and spent a lot of time there. The house had a lot of toys for the pool, which we really liked. We also enjoyed the tenniscourt and the bicycles. The house is located in a beautiful and quiet area, close to shops and I-95. We spent days on the beach and we went to Ellenton outlet mall and the UTC mall. We recommend this house to everyone, and hope to come back one day:) Thank you so much for a wonderful week!"Guest: Stine H. Date of Stay: July 2015 Review Submitted: July 28, 2015View listing
Featured Destinations: Dauphin Island, Isle of Palms, Bald Head Island, Destin Condo Rentals


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Relevant offers
Conservationists are alarmed with the growing reach of mining giant Newmont in the Coromandel after it was granted a further two years to search for gold and silver in a "sensitive" part of the peninsula.
Newmont Waihi Gold's request to extend its prospecting permit in a patch of forest park that adjoins the Kopu-Hikuai Rd, east of Thames, was approved last week.
The original permit, which was consented in 2011, covered about 13 square kilometres but has been scaled back to about 6 square kilometres.
However, that hasn't placated some conservationists in the area, who say communities are often powerless in the face of such operations and prospecting is the first step towards a potentially "toxic legacy".
Greens mining spokesperson Catherine Delahunty said prospecting was the "canary in the coalmine".
"My concern is that once you allow these companies to establish that there is gold in the area, it is very hard for residents to put a stop to that [exploration]."
Renée Annan, a co-ordinator at Coromandel Watchdog of Hauraki, said prospecting and exploration in sensitive conservation areas was "totally unacceptable".
"The extension of this permit near Neavesville highlights Newmont's unwillingness to accept that the Coromandel is not suitable for mining activities.
"The special nature of the peninsula is not appropriate for industrial activities such as underground or open-cast mining, let alone the toxic legacy that it leaves."
The area is classified as stewardship land - the part of the conservation estate with the weakest legal protection - and does not include "high conservation value" Schedule 4 land which cannot be mined.
Large areas to the north and north-west of Kopu-Hikuai Rd are in Schedule 4, but areas south of the road are not.
But Ms Delahunty said the forest park north of Thames is often "very similar" to the forest park to the south. "I have contact with people who live around these areas who don't want mining, who moved there to live next to the forest park and use the forest park."
Newmont Waihi Gold spokesperson Kit Wilson said the company had no immediate work scheduled in the area and was instead concentrating on getting the Correnso Underground Mine up and running.
He said poor gold prices meant Newmont had "slowed down" prospecting and exploration work in the Coromandel, and downplayed the significance of the work.
"Prospecting is no different from somebody walking across the land and picking flowers.
"You pick a handful of soil and chip a couple of rocks and take a couple of plastic bags of stream sediment."
A prospecting permit allows for low impact assessment and could include geological mapping and hand sampling.
- Waikato
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Ellie and her purple crayon - Today's Christian Videos
Embed elliesinceresmile 2178 views 2010-10-02T00:11:50 One of my favorite childhood story was "Harold and the purple crayon." Harold does not know what it is he will create though the landscape and everything in it is his own mental space he has the capacity to be surprised by his work. His tree turns out to be an appletree, and he is frightened by some of his own drawings; he draws an ocean without realizing it and falls in. His imagination is both his, and something the Authors who created him. This internal landscape is also one in which time does not exist: Harold decides what time it is when he creates the moon (I find it necessary to remind myself that the entire story takes place at night: even with the moon it is easy to forget that this is journey at night time, as the blank page invokes a bright landscape. The only reference to color (other than purple) in the story is the appletree and Harold waiting for the apples to turn red. Harold goes looking for a hill to see where he is, but realizing that the higher he is the farther he can see decides to make the hill into a mountain. It is Just like God that he is use to making something out of nothing which is exactly what happens in Harolds narrative. I have my own crayon and I too draw lines Yet today I sit here with tears in my eyes and these lines may give me a false sense of safety and shelter from pain but I know I am never going to get to the heart of God by staying in the lines that I have drawn my life in. I am nothing if left to my own design. I'm only something if I put all my faith in God who proves time and time again that he has been available to me and on behalf of me and even through me. In this all of God's riches are available and the kingdom of heaven is near. My heart hurts to think God would allow hurt in my life but then look at all that must be traced up to God? I always say I am trying to trace the heart of God for my life but my crayon keeps breaking! So praise God that He arranged the commencement of my life even the breaking of
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Thursday Jan 12, 2012
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ESPN's infamous Body Issue was released this week and once again it includes...
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Energizer Energizer New Universal Recharge Batteries, AA UNH15BP, 4 Count
$ 15.52
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Microsoft Type Cover Keyboard/Cover Case (Flip) for Tablet - Black
$ 119.87 $ 129.99
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Product Information for Cables To Go 05955 Punch Down Tool
Highlights for Cables To Go 05955 Punch Down Tool
- Product Type:Punch Down Tool
- Material:Alloy Steel
- Color:Black
- Dimensions:6.80" Width x 1.20" Depth x 1.10" Height
Marketing Information
This impact punchdown tool has an impact mechanism inside divided from the turnable body. It also has a rugged frame with a storage compartment in the tool's body for storing one blade. Made from hardened SNCM-21, the blade is interchangeable and reversible - very convenient. Plus, you can quickly change the blade without using a screwdriver.
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The easy way to download and convert Web videos from hundreds of YouTube-like sites.
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Customize the way a web page displays or behaves, by using small bits of JavaScript.
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Download all the links, movies and audio clips of a page at the maximum speed with a single click, using the most popular, lightweight and reliable external download managers.
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LastPass, an award-winning password manager, saves your passwords and gives you secure access from every computer and mobile device.
600,854 users
Displays a country flag depicting the location of the current website's server and provides a multitude of tools such as site safety checks, whois, translation, similar sites, validation, URL shortening, and more...
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Xmarks is the #1 bookmarking and open tab add-on. Keep your bookmarks, and open tabs backed up and synchronized across computers and browsers. Mobile phones with Premium access. Utilize LastPass to sync passwords!
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Personas are free, easy-to-install "skins" for Firefox. Personas Plus extends that built-in functionality to give you even more control and easier access to new, popular, and your own favorite Personas.
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To create your own collections, you must have a Mozilla Add-ons account.


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- Find & Research
- Get Help
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- About
Workshops, Tours and Instruction
Instructional Services at Randall Library gives faculty, staff, and students the opportunity to learn about using the library's resources and gain important information literacy skills. We provide instruction for classes as well as individuals.
Bridges to information Literacy
The Bridges to Information Literacy portal, created by Randall Library, provides resources to the UNCW faculty to facilitate the incorporation of information literacy into the curriculum. Resources addressing the information literacy requirements of specific academic departments and guides on the creation of Student Learning Outcome (SLO's) are included.
Schedule a Session
First Year Seminar Session | Other Instruction Sessions (ENG, etc.) | Online/Distance Education Courses| Tour of Library | Session for Visiting Groups (Middle School, High School, etc.)
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Apple updates MacBook Pro battery firmware, QT for WindowsApple on Wednesday afternoon release two small software updates, one a security update targeting the Windows version of its QuickTime media software, and another to address battery performance issues on its 15-inch MacBook Pro notebooks.
Security Update for QuickTime 7.2 for Windows
Apple said an issue exists within the current version of QuickTime for Windows where viewing maliciously crafted QTL content may lead to arbitrary code execution.
"A command injection issue exists in QuickTime's handling of URLs in the qtnext field in files with QTL content," the company explained. "By enticing a user to open a specially crafted file, an attacker may cause an application to be launched with controlled command line arguments, which may lead to arbitrary code execution."
A 7MB Security Update addresses the issue by improving the handling of URLs.
Battery Update 1.3
Meanwhile, Apple also released Battery Update 1.3 [480K], which updates battery firmware and addresses battery performance issues with the 15-inch MacBook Pro.
"Your computer's power cord must be connected and plugged into a working power source while running this update," the company reminds users of the software. "After the Battery Update has been installed, any additional batteries you put in your 15-inch MacBook Pro are automatically updated."
The battery update is compatible with the MacBook Pro (15-inch), MacBook Pro (15-inch Glossy), MacBook Pro (15-inch Core 2 Duo) and MacBook Pro (15-inch 2.4/2.2GHz).
Additional details on Battery Update 1.3 are available in this Apple knowledge base article.
On Topic: General
- This week on AppleInsider: Apple Watch at Best Buy, Apple Music numbers, Apple TV news & more
- IBM reportedly plans to purchase up to 200K MacBooks for employees
- Facebook completes first full-scale drone for spreading Internet access to remote regions
- AppleInsider podcast talks Apple Watch at Best Buy, rumored iPads, Steve Jobs movies & an Apple car
- Apple could be held liable for supporting terrorism with strong iOS encryption, experts theorize