In the Matter of AIOI NISSAY DOWA INSURANCE COMPANY, LTD.

AND

In the Matter of RIVERSTONE INSURANCE (UK) LIMITED

AND IN THE MATTER OF THE FINANCIAL SERVICES AND MARKETS ACT 2000

NOTICE IS HEREBY GIVEN that on 20 November 2019 Aioi Nissay Dowa Insurance Company, Ltd. ("ADI") applied to the High Court of Justice for:

1. an Order under Part VII of the Financial Services and Markets Act 2000 (the "Act") sanctioning a scheme (the "Scheme") providing for the transfer to RiverStone Insurance (UK) Limited ("RIUK") of all reinsurance contracts in respect of which ADI is the reinsurer (including reinsurance contracts originally written by or on behalf of ADI in Japan) which are administered in the UK by or on behalf of ADI, acting through its UK branch; and

2. an Order making ancillary provision in connection with the implementation of the Scheme under Section 112 of the Act.

The business to be transferred comprises a mix of international reinsurance business written by ADI in Japan and relocated to ADI's UK branch on 21 December 2018. This inwards reinsurance business includes contracts reinsuring marine, non-marine and aviation risks under treaty and facultative contracts. It was written from the 1960s up to 2015.

The proposed transfer will result in all of the inwards reinsurance business carried on by ADI in the UK being carried on by RIUK. The proposed transfer will secure the continuation by or against RIUK of any legal proceedings by or against ADI that relate to rights and obligations in respect of the transferred business. All claims being dealt with before the transfer on behalf of ADI will following the transfer be dealt with on behalf of RIUK; all claims arising after the transfer will be dealt with on behalf of RIUK.

The application is directed to be heard before a Companies Court Judge at 7 Rolls Buildings, Royal Courts of Justice, Fetter Lane, London, EC4A 1NL on 31 January 2020 and any person (including staff employed in the performance of ADI's business or RIUK's business) who alleges that he or she may be adversely affected by the carrying out of the Scheme is entitled to object (by sending written representations to ADI or RIUK and/or the Court or making oral representations to ADI or RIUK) or may appear at the time of that hearing in person or by Counsel. Any person who intends to object orally or in writing or so to appear is requested (but not obliged) to notify his or her objections and the reasons for such objections as soon as possible, and preferably before 28 January 2020, to: (i) in the case of representations in respect of ADI, Aioi Nissay Dowa Insurance Co., Ltd. UK Branch, c/o Quest Consulting (London) Limited, 52-54 Gracechurch Street, London EC3V 0EH, United Kingdom, F.A.O. Tom Sato (tel: +44 (0)20 7015 8675, email: tom-sato@aioinissaydowa.co.jp); or (ii) in the case of representations in respect of RIUK, RiverStone Insurance (UK) Limited, Park Gate, 161-163 Preston Road, Brighton, East Sussex, United Kingdom, BN1 6AU, F.A.O. Fraser Henry (tel: +44 (0)1273 792457, email: aditoriuk@rsml.co.uk).

Copies of a report on the terms of the Scheme prepared pursuant to Section 109 of the Act (the "Independent Expert's Report") and a statement setting out the terms of the Scheme and containing a summary of the Independent Expert's Report can be accessed at: https://www.aditoriuk.co.uk and will be provided free of charge by ADI and RIUK on request using the above contact details.

Hogan Lovells International LLP

Atlantic House, Holborn Viaduct, London EC1A 2FG

Tel: +44(0) 20 7296 2000; Fax: +44(0) 20 7296 2001

Ref: C4/NC/TJG

Solicitors for Aioi Nissay Dowa Insurance Company, Ltd. and RiverStone Insurance (UK) Limited

29 November 2019