Counterparty security information

Sovereign is a specialist underwriting agency which underwrites political risk insurance on behalf of its parent company, ACE Bermuda Insurance Ltd. (“ACE Bermuda”). Sovereign does not underwrite private credit risk, including trade credit or structured trade credit insurance.

ACE Bermuda, the original insurance franchise of the ACE Group, provides insurance protection for risks worldwide. ACE Bermuda was established in 1985 by a consortium of 34 Fortune 500 companies to provide excess liability and directors and officers insurance when capacity was scarce. Today, ACE Bermuda is a leading provider of high limit, broad-form excess liability, property, directors and officers and other professional liability insurance. ACE Bermuda holds financial strength ratings of A+ from Standard & Poor’s and A.M. Best. For more information visit the company’s website at www.acebermuda.com

Backed by the strength and stability of the ACE Group, Sovereign offers clients unparalleled financial strength and counterparty security. Sovereign is authorized to underwrite risk, issue policies, accept premiums, and manage and settle claims on behalf of ACE Bermuda. All liabilities underwritten by Sovereign are guaranteed 100% by ACE Bermuda and all claims are paid by ACE Bermuda.(please see Authorisation letter)

The ACE Group is one of the world’s largest providers of commercial property and casualty insurance and reinsurance. Rated A+ for financial strength by Standard & Poor’s and A.M. Best, and with more than $72 billion in assets at December 31, 2008 and $19 billion of gross written premiums in 2008, the ACE Group is distinguished by its underwriting expertise, superior claims handling and global franchise, which includes offices in more than 50 countries and clients in over 140 countries.

ACE Limited is the Swiss-incorporated parent company of the companies comprising the ACE Group of Companies and is listed on the New York Stock Exchange (NYSE: ACE). The ACE Group maintains executive offices in Zurich, Bermuda and New York, among other locations. Additional information, can be found at www.acelimited.com

Legal Notices / Copyright © 2009 Sovereign Risk Insurance Ltd.