Disposal

London, 17 April 2013

TAWA PLC ("TAWA")

PRESS RELEASE- RNS

Tawa completes sale of KX Reinsurance Company Limited and

OX Reinsurance Company Limited

Tawa plc ("Tawa" or the "Group") the quoted insurance service provider and run-off investor, today announced that it has completed the sale of 100% of its shares in KX Reinsurance Company Limited ("KX Re") to Catalina Holdings (Bermuda) Limited following regulatory approval.

The sale includes 100% of the shares in OX Reinsurance Company Limited ("OX Re"), which is wholly owned by KX Re.

The total consideration received by Tawa following completion adjustments is $30.2 million.

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About Tawa Plc

Tawa plc was formed in 2001 and is a specialised investor in the insurance industry. In the last few years, Tawa has moved from being a pure run-off risk owner towards being a multi-segment investor in the insurance market, expanding significantly in the servicing arena of the international insurance industry.

Tawa invests in acquiring run-off portfolios ("Portfolios", "Risk Carriers") and investing in servicing business. The Group also operates as an incubator for new projects and has invested alongside professional teams to create two new businesses, Q360 and Lodestar Marine, in addition to developing its own products to serve the insurance market as a whole such as STRIPE®.

On the portfolio front, Tawa has acquired, since its formation, nine insurance entities in run-off - CX Reinsurance Company Limited, Hamburger Internationale Rückversicherung AG, KX Reinsurance Company Limited, LGIC Holdings, LLC, PXRE Reinsurance Company, Island Capital Limited, Island Capital (Europe) Ltd, Pavant International Re S.A, and Oslo Reinsurance (UK) Company Limited. As an alternative technique to assuming run-off risks, Tawa established a dedicated reinsurance vehicle, QX Reinsurance Company Limited, in Bermuda to reinsure portfolios. On the service side, Tawa acquired Pro Insurance Solutions Ltd (Pro) in 2009 and the HIR group in April 2012. HIR owns the Chiltington Consulting Group. Through HIR, Tawa now offers a vehicle for European run-off portfolios transfers under the European Union portfolios transfer directive.

The Group's combined servicing team of approximately 400 professionals provide underwriting, claims management, broking and consulting services to a broad array of international clients across the global insurance market, whether active underwriters or run-off. The Group has also established an innovative platform to provide turnkey services supporting clients wishing for immediate start of a new broking or MGA venture.

As part of its expansion in the Lloyd's market, in January 2012, Tawa became the owner of 33% of Asta Limited, the leading turnkey agency management services company in Lloyd's.