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W 178/06 PIN — Liberty Mutual Insurance Europe Limited

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WAIVER NOTICE

To Liberty Mutual Insurance Europe Limited
Address Al Murooj Rotana Hotel & Suites, Al Saffa Street, PO Box
117546, Dubai, UAE
DFSA Firm Reference No. F000264
Notice No. W178/2006

THE DFSA HEREBY GIVES NOTICE THAT:

The Rules specified in the table below do not apply to the above mentioned Person.

This notice is issued by the DFSA under Article 25 of the Regulatory Law 2004.

Effective date: This notice comes into effect on 22 November 2006 and remains in effect until further notice.

Module Version Rule
PIN/VER2/228/10-04 PIN Chapter 4 (Capital), Section PIN 4.3.2 to PIN 4.3.4 (inclusive)
PIN/VER2/228/10-04 PIN Rule 6.2.4
PIN/VER2/228/10-04 PIN Chapter 7 (Actuaries), all Sections

CONDITIONS

The waivers in respect of the Rules specified above remain in effect on condition that Liberty Mutual Insurance Europe Limited submits to the DFSA annually a copy of the UK Financial Services Authority's (FSA's) Capital Resources Summary and the Liberty Group Capital Adequacy Summary; to be submitted to the DFSA within ten business days of the due date to the FSA.

INTERPRETATION

The provisions in this notice are to be construed in accordance with GEN section 6.2 as if these provisions are provisions of the Rulebook.

Defined terms are identified in this notice by the capitalisation of the initial letter of a word or of each word in a phrase and are defined in the Glossary (GLO). Unless the context otherwise requires, where capitalisation of the initial letter is not used, an expression has its natural meaning.

This notice was issued by:

Name : Jane Coakley
Position : Managing Director
Date : 22 November 2006