Acquisition

Tawa plc

Completion of Island Capital acquisition

Tawa plc ("Tawa" or the "Group") the quoted insurance service provider and run-off investor, today announces that following regulatory approvals from the Bermuda Monetary Authority and the FSA, it has completed its acquisition of 94.3% of the issued shares of Island Capital Ltd and its wholly-owned UK subsidiary, Island Capital (Europe) Ltd as announced on 20 August 2010.

Enquiries:

Notes for Editors:

Tawa plc was formed in 2001 with the purpose of acquiring or developing assets and business in the insurance industry. Tawa is an acquirer of run-off portfolios of insurance and reinsurance companies, companies and businesses providing services to the run-off industry and a developer of its own products to serve the insurance market as a whole such as STRIPE®.

By creating a diversified portfolio of businesses at different stages of the run-off process and in the servicing business Tawa is a consolidator of this specific market in the UK, US, continental Europe, Bermuda, and elsewhere as opportunities arise.

Since its formation, Tawa has acquired CX Reinsurance Company Limited, KX Reinsurance Company Limited, PXRE Reinsurance Company, the PRO group of companies and now Island Capital Limited.

The combined Tawa/PRO team of over 300 professionals service a number of the largest insurance businesses in the UK and Europe and deliver a market-wide, third-party insurance servicing capability as PRO services active underwriters as well as run-offs and covers London's company and Lloyd's markets as well as Europe and the USA.

Tawa also operates as an incubator for new projects and has recently launched STRIPE®, a new claims and post-placement transactions processing platform.

 Further information can be found on the Company's website: www.tawaplc.co.uk