Beech Hill and Cardrow

Date: 19 October 2015

On behalf of: Charles Taylor plc ("Charles Taylor" the "Group" or "Company")

Embargoed until: 0700hrs

Charles Taylor plc

Beech Hill and Cardrow

Charles Taylor is pleased to announce that its subsidiaries Cardrow Insurance Limited ("Cardrow") and Beech Hill Insurance Limited ("Beech Hill"), which are non-life insurance companies in run-off, have entered agreements to transfer their insurance businesses to Tenecom Limited, a subsidiary of Berkshire Hathaway Inc. The Group will receive a final dividend from Cardrow and Beech Hill once these companies are liquidated, post completion of the transfers.

One strand of Charles Taylor's stated business strategy is to reduce its exposure to the ownership of non-life insurance companies in run-off. Today's announcement follows the Group's announcement of 5 October that its subsidiary, LCL Acquisitions Limited, has entered into an agreement to sell its holding in Bestpark International Limited, an insurance company in run-off, to Ashbrooke Financial Group Limited. Once these transactions complete, Charles Taylor will not own any non-life insurance companies in run-off and hence has executed successfully on this strand of its overall business strategy.

Charles Taylor continues to seek acquisition opportunities in the UK international life insurance sector. The Group is also actively growing the claims management and services it provides to non-life and life (re)insurers in run-off.

Cardrow and Beech Hill are owned by the Group and other shareholders. The legal transfer of the policies to Tenecom is governed by Part VII of the Financial Services and Markets Act 2000 in the UK and by the High Court in Dublin and will be subject to Court approval and regulatory approval by the PRA and CBI respectively. The business transfers are expected to complete early in 2016.

David Marock, Group Chief Executive Officer, Charles Taylor said:

"I am very pleased that we have delivered successfully our strategy to dispose of our non-life insurance companies. We are focusing our strategy on acquiring life insurers, which offer attractive opportunities and generate cash releases for the Group. Over the last four years we have made four successful life insurance company acquisitions.

"We remain also fully committed to providing services to run-off insurers as part of our wide range of professional services provided to the global insurance market. We have been active in the sector for many years and offer highly-rated claims management services, complemented by our run-off management, commutation analysis and negotiation services."

-ENDS-

Notes to editors

About Charles Taylor

Charles Taylor plc is a leading provider of professional services to clients across the global insurance market. The Group has been providing services since 1884 and today employs over 1,200 staff in 69 offices spread across 28 countries in the UK, the Americas, Asia Pacific, Europe, the Middle East and Africa.

The Group offers services, principally on a fee-based model and operates through three businesses - Management, Adjusting and Insurance Support Services. Charles Taylor also owns insurers, creating value through select acquisitions and operational efficiency.

Further information is available at www.ctplc.com.

Statements made in this announcement that look forward in time or that express management's beliefs, expectations or estimates regarding future occurrences are "forward-looking statements" within the meaning of the United States federal securities laws. These forward-looking statements reflect the Group's current expectations concerning future events and actual results may differ materially from current expectations or historical results.