REVIEW OF BRAZILIAN INSURANCE MARKET

REVIEW OF BRAZILIAN INSURANCE MARKET December, 2010 Revenues and Profitability of Insurance, Reinsurance, Private Pensions and Capitalization Segments. Real and Estimated Data for 2011. Information based on market data monthly released on www.siscorp.com.br ww.siscorp.com.br site Observation about estimated values: Written Premium: : Include direct insurance premiums, plus coinsurance accepted and retrocession, and minus coinsurance assigned, refunds and returns. In the year 2011 estimate, for each of the branches of insurance it was considered the values which are between: a) The trend of the awards for three years period proceeding the designed year, updated until December 2010; b) The premium growth in the previous year of the estimated year for each of the branches. In situations where the evolution of the awards has significant variations, mainly due to low representativeness of these values, estimates can be out of the above criteria. Estimates by Insurance Companies: In the estimates for 2011 it was kept the market share of the insurance company in 2009 for each of the insurance groupings.

REVIEW OF BRAZILIAN INSURANCE MARKET December,, 2010 1. Billing of Insurance, Private Pensions and Capitalization Segments Segments Premiums of General Insurance 21.411 34% 30% 16.527 35% 24.551 33% 15% Premiums of Life Insurance and Personal Accident 29.803 47% 35% 22.010 46% 35.465 48% 19% Premiums of Health Insurance (1) Premiums 51.214 81% 33% 38.537 81% 60.016 82% 17% Private Pension Income 5.266 8% 27% 4.137 9% 5.869 8% 11% Capitalization Income 6.701 11% 36% 4.927 10% 7.712 10% 15% Total 63.181 100% 33% 47.601 100% 73.597 100% 16% (1) premiums of health insurance not included due to lack of information. 2. Claims, benefits and redemption values of Insurance, Private Pensions and Capitalization Segments Segments Claims of General Insurance 10.132 54% 25% 8.097 55% 11.850 55% 17% Claims of Life Insurance and Personal Accident 2.755 15% 20% 2.289 16% 3.155 15% 15% Claims of Health Insurance (1) Claims 12.887 69% 24% 10.386 71% 15.005 69% 16% Private Pension Benefits 217 1% 20% 181 1% 245 1% 13% Capitalization Redemption Values 5.519 30% 36% 4.070 28% 6.351 29% 15% Total 18.623 100% 27% 14.636 100% 21.601 100% 16% (1) claims of health insurance not included due to lack of information.

3. Premiums of General Insurance Kinds Of Insurance Groupings Automobile 11.341 53,0% 30% 8.694 52,6% 13.053 53,2% 15% Property 3.241 15,1% 23% 2.631 15,9% 3.642 14,8% 12% Financial Risks 1.700 7,9% 60% 1.063 6,4% 1.929 7,9% 13% Dpvat(*) 1.647 7,7% 22% 1.348 8,2% 1.895 7,7% 15% Transports 1.180 5,5% 32% 894 5,4% 1.311 5,3% 11% Housing 628 2,9% 38% 456 2,8% 769 3,1% 22% Rural 582 2,7% 13% 514 3,1% 724 2,9% 24% Responsibilities 426 2,0% 34% 318 1,9% 486 2,0% 14% Hull Marine 325 1,5% 18% 275 1,7% 365 1,5% 12% Credits 242 1,1% 13% 214 1,3% 260 1,1% 7% Special Risks 98 0,5% -17% 118 0,7% 117 0,5% 19% Total of Premiums 21.411 100% 30% 16.527 100% 24.551 100% 15% (*) Compulsory Insurance Of Personal Damage Caused By Road Vehicles 4. Premiums of Life Insurance and Personal Accident Kinds Of Insurance Groupings Variable Annuity 20.868 70% 38% 15.139 69% 25.224 71% 21% Life And Personal Accident 8.935 30% 30% 6.872 31% 10.241 29% 15% Total of Premiums 29.803 100% 35% 22.010 100% 35.465 100% 19% 5. Evolution and Tendency of of Written Premium 5. US$ million Kinds Of Insurance Groupings Jan/Dec10 Jan/Dec09 Last 12 Months Nominal Last 6 Months Last 3 Months Tendency Variable Annuity 21.022 15.655 34% 27% 28% Automobile 11.379 8.880 28% 20% 20% Life And Personal Accident 8.961 7.002 28% 23% 26% Property 3.238 2.656 22% 16% 12% Financial Risks 1.712 1.077 59% 84% 123% Dpvat(*) 1.637 1.339 22% 8% 23% Transports 1.185 910 30% 27% 28% Housing 631 464 36% 33% 31% Rural 589 546 8% 7% 5% Responsibilities 427 350 22% 14% 32% Hull Marine 326 280 16% 17% 7% Credits 243 212 30% 31% 44% Special Risks 97 121-20% 3% -73% TOTAL 51.447 39.492 30% 24% 27% (*) Compulsory Insurance Of Personal Damage Caused By Road Vehicles

6. Written Premium for Federal Units Jan/Dec-2010 Jan/Dec-2009 Federation Units Growt US$ h million market share São Paulo 24.700 48,2% 36% 18.133 47,1% Rio de Janeiro 5.523 10,8% 19% 4.636 12,0% Minas Gerais 3.814 7,4% 29% 2.953 7,7% Espírito Santo 512 1,0% 23% 416 1,1% Southeast Region 34.548 67,5% 32% 26.139 67,8% Rio Grande do Sul 3.176 6,2% 35% 2.350 6,1% Paraná 3.115 6,1% 29% 2.413 6,3% Santa Catarina 1.699 3,3% 26% 1.352 3,5% South Region 7.990 15,6% 31% 6.114 15,9% Bahia 1.321 2,6% 38% 959 2,5% Pernambuco 1.069 2,1% 38% 775 2,0% Ceará 839 1,6% 46% 574 1,5% Maranhão 221 0,4% 41% 157 0,4% Rio Grande do Norte 203 0,4% 45% 140 0,4% Paraíba 187 0,4% 49% 126 0,3% Alagoas 185 0,4% 29% 144 0,4% Piauí 119 0,2% 47% 81 0,2% Sergipe 92 0,2% 51% 61 0,2% Northeast Region 4.236 8,3% 40% 3.017 7,8% Brasília 1.426 2,8% 30% 1.096 2,8% Goiás 1.305 2,5% 46% 896 2,3% Mato Grosso do Sul 399 0,8% 27% 315 0,8% Mato Grosso 392 0,8% 34% 294 0,8% Midwest Region 3.522 6,9% 35% 2.601 6,8% Pará 405 0,8% 30% 310 0,8% Amazonas 275 0,5% 46% 189 0,5% Rondônia 111 0,2% 53% 73 0,2% Tocantins 62 0,1% 29% 48 0,1% Acre 32 0,1% 41% 22 0,1% Amapá 17 0,0% 25% 14 0,0% Roraima 16 0,0% 51% 11 0,0% North Region 917 1,8% 38% 666 1,7% Total 51.214 100,0% 33% 38.537 100,0%

7. Top Ten in Written Premiums (Health Not Included) BRADESCO 10.561 21% 31% 8.069 21% 12.526 21% 19% ITAÚ UNIBANCO 8.043 16% 19% 6.757 18% 9.449 16% 17% BCO. DO BRASIL (1) 6.755 13% 67% 4.046 11% 8.444 14% 19% SANTANDER 3.483 7% 39% 2.509 7% 4.148 7% 19% PORTO SEGURO 3.026 6% 30% 2.326 6% 3.479 6% 15% CAIXA 2.825 6% 31% 2.157 6% 3.374 6% 19% MAPFRE (1) 2.545 5% 27% 2.005 5% 2.915 5% 15% SUL AMÉRICA 1.764 3% 27% 1.393 4% 1.720 3% 15% HSBC 1.265 2% 26% 1.001 3% 1.504 3% 19% ALLIANZ 1.213 2% 28% 949 2% 1.386 2% 14% Other 9.733 19% 33% 7.324 19% 11.069 18% 15% 51.214 100% 33% 38.537 100% 60.016 100% 17% 7.1. Top Ten in Written Premiums - Variable Annuity BRADESCO 6.722 32% #N/D 5.157 34% 8.125 32% 21% BCO. DO BRASIL (1) 4.317 21% 78% 2.143 14% 5.219 21% 21% ITAÚ UNIBANCO 4.000 19% 3% 3.444 23% 4.834 19% 21% SANTANDER 2.493 12% 22% 1.808 12% 3.013 12% 21% CAIXA 1.687 8% 12% 1.330 9% 2.039 8% 21% HSBC 866 4% 9% 702 5% 1.046 4% 21% SAFRA 286 1% 156% 99 1% 345 1% 21% ICATU 151 1% 5% 126 1% 182 1% 21% METLIFE 101 0% -52% 187 1% 122 0% 21% SUL AMÉRICA 96 0% 62% 53 0% 117 0% 21% Other 150 1% 64% 91 1% 181 1% 21% 20.868 100% 38% 15.139 100% 25.224 100% 21%

.2. Top Ten in Written Premiums - Automobile 7.2. PORTO SEGURO 2.274 20% 14% 1.757 20% 2.617 20% 15% BRADESCO 1.609 14% 20% 1.187 14% 1.852 14% 15% SUL AMÉRICA 1.178 10% 25% 830 10% 1.056 8% 15% MAPFRE (1) 920 8% 17% 696 8% 1.059 8% 15% LIBERTY 880 8% 23% 630 7% 1.012 8% 15% BCO. DO BRASIL (1) 867 8% 19% 644 7% 1.297 10% 15% ITAÚ UNIBANCO 816 7% 4% 691 8% 939 7% 15% HDI 731 6% 20% 536 6% 841 6% 15% ALLIANZ 583 5% 13% 457 5% 672 5% 15% TOKIO MARINE 335 3% -10% 329 4% 386 3% 15% Other 1.148 10% 23% 937 11% 1.321 10% 15% 11.341 100% 30% 8.694 100% 13.053 100% 15%.3. Top Ten in Written Premiums - Life And Personal Accident 7.3. BRADESCO 1.545 17% 18% 1.160 17% 1.771 17% 15% ITAÚ UNIBANCO 1.346 15% 13% 1.051 15% 1.543 15% 15% BCO. DO BRASIL (1) 971 11% 16% 739 11% 1.123 11% 15% SANTANDER 802 9% 17% 603 9% 919 9% 15% MAPFRE (1) 651 7% -7% 619 9% 746 7% 15% CAIXA 399 4% 33% 266 4% 458 4% 15% HSBC 397 4% 18% 297 4% 456 4% 15% METLIFE 361 4% 12% 285 4% 413 4% 15% TOKIO MARINE 259 3% 8% 212 3% 297 3% 15% SUL AMÉRICA 243 3% 8% 198 3% 278 3% 15% Other 1.961 22% 36% 1.441 21% 2.238 22% 15% 8.935 100% 30% 6.872 100% 10.241 100% 15%

.4. Top Ten in Written Premiums - Property 7.4. ITAÚ UNIBANCO 599 18% 1% 525 20% 673 18% 12% ALLIANZ 303 9% 10% 243 9% 340 9% 12% BRADESCO 268 8% 17% 203 8% 301 8% 12% YASUDA MARÍTIMA 243 7% 36% 158 6% 273 7% 12% BCO. DO BRASIL (1) 196 6% 9% 159 6% 296 8% 12% PORTO SEGURO 192 6% 26% 134 5% 215 6% 12% MAPFRE (1) 192 6% -28% 236 9% 215 6% 12% TOKIO MARINE 182 6% -3% 166 6% 205 6% 12% ACE 122 4% 25% 86 3% 137 4% 12% ZURICH 118 4% 5% 99 4% 133 4% 12% Other 826 25% 33% 623 24% 853 23% 12% 3.241 100% 23% 2.631 100% 3.642 100% 12%.5. Top Ten in Written Premiums - Financial Risks 7.5. ITAÚ UNIBANCO 704 41% 44% 432 41% 798 41% 13% MAPFRE (1) 190 11% * 215 11% 13% VIRGINIA SURETY 155 9% 59% 86 8% 175 9% 13% J. MALUCELLI 142 8% 12% 112 11% 161 8% 13% PORTO SEGURO 116 7% 11% 92 9% 131 7% 14% CARDIF 108 6% 12% 85 8% 122 6% 13% ASSURANT 72 4% 23% 52 5% 82 4% 13% FATOR SEGURADORA 48 3% 249% 12 1% 55 3% 13% UBF 41 2% -25% 49 5% 47 2% 13% CIAC 24 1% 6% 20 2% 28 1% 13% Other 101 6% -18% 123 12% 114 6% 13% 1.700 100% 60% 1.063 100% 1.929 100% 13%

.6. Top Ten in Written Premiums - DPVAT* 7.6. ITAÚ UNIBANCO 203 12% -23% 232 17% 234 12% 15% BRADESCO 195 12% -2% 175 13% 224 12% 15% MAPFRE (1) 128 8% 17% 97 7% 148 8% 15% PORTO SEGURO 111 7% -5% 103 8% 128 7% 15% CAIXA 103 6% 13% 80 6% 118 6% 15% BCO. DO BRASIL (1) 72 4% 12% 57 4% 93 5% 15% SANTANDER 71 4% 176% 23 2% 82 4% 15% ICATU 57 3% 16% 43 3% 65 3% 15% TOKIO MARINE 53 3% 24% 38 3% 61 3% 15% ZURICH 48 3% 14% 38 3% 56 3% 15% Other 605 37% 31% 463 34% 686 36% 15% 1.647 100% 22% 1.348 100% 1.895 100% 15% (*) Compulsory Insurance Of Personal Damage Caused By Road Vehicles.7. Top Ten in Written Premiums - Transports 7.7. MAPFRE (1) 148 13% 4% 125 14% 164 13% 11% ITAÚ UNIBANCO 126 11% 6% 105 12% 140 11% 11% ACE 115 10% 31% 78 9% 128 10% 11% ALLIANZ 107 9% 21% 78 9% 119 9% 11% TOKIO MARINE 99 8% 36% 64 7% 110 8% 11% ROYAL & SUNALLIANCE 94 8% 20% 69 8% 105 8% 11% BRADESCO 82 7% -10% 81 9% 91 7% 11% SUL AMÉRICA 66 6% 7% 54 6% 73 6% 11% YASUDA MARÍTIMA 61 5% 58% 34 4% 67 5% 11% LIBERTY 58 5% 57% 33 4% 64 5% 11% Other 224 19% 30% 173 19% 249 19% 11% Total 1.180 100% 32% 894 100% 1.311 100% 11%

7.8. Top Top Ten in Written Premiums - Housing CAIXA 461 73% 22% 334 73% 564 73% 22% ITAÚ UNIBANCO 41 6% 18% 30 7% 50 6% 22% EXCELSIOR 33 5% -3% 30 7% 40 5% 22% BRADESCO 22 3% 30% 15 3% 27 3% 22% TOKIO MARINE 20 3% 1% 17 4% 24 3% 22% SANTANDER 16 3% 45% 10 2% 20 3% 22% BCO. DO BRASIL (1) 12 2% 348% 2 1% 15 2% 22% SUL AMÉRICA 10 2% 35% 6 1% 12 2% 22% HDI 8 1% 29% 5 1% 9 1% 22% ALLIANZ 4 1% 55% 2 0% 5 1% 22% Other 3 0% -22% 3 1% 3 0% 22% 628 100% 38% 456 100% 769 100% 22% 7.9. Top Top Ten in Written Premiums - Rural BCO. DO BRASIL (1) 301 52% -10% 295 57% 374 52% 24% MAPFRE (1) 55 10% -14% 57 11% 69 10% 24% NOBRE 49 8% -10% 48 9% 61 8% 24% ALLIANZ 46 8% 17% 35 7% 57 8% 24% YASUDA MARÍTIMA 28 5% 34% 19 4% 35 5% 24% UBF 28 5% 37% 18 3% 34 5% 24% PORTO SEGURO 27 5% 229% 7 1% 34 5% 24% BRADESCO 21 4% 37% 13 3% 26 4% 24% TOKIO MARINE 7 1% 179% 2 0% 9 1% 24% SANTANDER 5 1% 13% 4 1% 6 1% 24% Other 14 2% -15% 16 3% 17 2% 24% 582 100% 13% 514 100% 724 100% 24%

7.10. Top Top Ten in Written Premiums - Responsibilities ITAÚ UNIBANCO 78 18% -12% 79 25% 89 18% 14% ZURICH 56 13% 33% 37 12% 63 13% 14% ALLIANZ 49 11% 15% 37 12% 56 11% 14% ACE 44 10% 7% 36 11% 50 10% 14% CHARTIS 37 9% 103% 16 5% 42 9% 14% MAPFRE (1) 32 8% 293% 7 2% 37 8% 14% TOKIO MARINE 19 5% 6% 16 5% 22 5% 14% CHUBB 19 4% 19% 14 4% 21 4% 14% SUL AMÉRICA 17 4% -26% 21 6% 20 4% 14% HDI 12 3% -1% 10 3% 13 3% 14% Other 64 15% 44% 44 14% 73 15% 14% 426 100% 34% 318 100% 486 100% 14% 7.1.11. Top Top Ten in Written Premiums - Hull Marine MAPFRE (1) 92 28% 55% 53 19% 104 28% 12% ITAÚ UNIBANCO 73 22% -27% 87 32% 82 22% 12% ALLIANZ 45 14% 4% 38 14% 51 14% 12% BRADESCO 41 13% -7% 39 14% 46 13% 12% SUL AMÉRICA 22 7% -18% 24 9% 25 7% 12% TOKIO MARINE 13 4% 18% 10 4% 15 4% 12% CHUBB 12 4% -3% 11 4% 14 4% 12% CHARTIS 7 2% * 7 2% 12% ROYAL & SUNALLIANCE 6 2% -2% 6 2% 7 2% 12% FAIRFAX 5 2% 5 2% 6 2% 12% Other 8 2% 216% 3 1% 9 2% 12% 325 100% 18% 275 100% 365 100% 12%

7.12. Top Top Ten in i Written Premiums - Credits CAIXA 50 21% -34% 67 31% 54 21% 7% MAPFRE (1) 44 18% 3% 37 17% 47 18% 7% COFACE 33 14% 0% 29 14% 35 14% 7% BRADESCO 32 13% 37% 21 10% 34 13% 7% ITAÚ UNIBANCO 15 6% 80% 7 3% 16 6% 7% BCO. DO BRASIL (1) 14 6% 285% 3 2% 22 9% 7% EULER HERMES 12 5% -9% 11 5% 13 5% 7% BRASILEIRA CRÉD. À EXP. 11 5% 19% 8 4% 12 5% 7% CREDITO Y CAUCION 10 4% 121% 4 2% 11 4% 7% MUTUAL 8 3% 25% 6 3% 9 3% 7% Other 14 6% -33% 21 10% 8 3% 7% 242 100% 13% 214 100% 260 100% 7% 7.13. Top Top Ten in Written Premiums - Special Risks ITAÚ UNIBANCO 38 39% -49% 66 56% 45 39% 19% MAPFRE (1) 18 18% 64% 10 8% 21 18% 19% ALLIANZ 13 13% 27% 9 7% 15 13% 19% BRADESCO 8 8% -26% 9 8% 9 8% 19% CHARTIS 7 7% 6 5% 9 7% 19% TOKIO MARINE 7 7% -1% 6 5% 8 7% 19% LIBERTY 4 4% 112% 2 2% 5 4% 19% ZURICH 3 3% * 3 3% 19% FAIRFAX 1 1% 1 1% 1 1% 19% ACE 0 0% -89% 1 1% Other 0 0% -99% 8 7% 98 100% -17% 118 100% 117 100% 19%

8. Main Companies of Private Pension and Capitalization.1. Top Ten Companies in Private Pension Income 8.1. Jan/Dec-2010 Jan/Dec-2009 Private Pensions Companies BRADESCO 1.444 27% 32% 1.097 27% BCO. DO BRASIL 1.230 23% 24% 989 24% ITAÚ UNIBANCO 965 18% 33% 725 18% SANTANDER 341 6% 65% 207 5% CAIXA 227 4% 20% 188 5% HSBC 223 4% 14% 195 5% CONAPP 125 2% 17% 107 3% SUL AMÉRICA 122 2% 20% 102 2% MONGERAL AEGON 122 2% 14% 106 3% ICATU 102 2% 16% 88 2% Other Companies 366 7% 10% 334 8% Total Private Pensions Companies 5.266 100% 27% 4.137 100%.2. Top Ten Companies in Capitalization Income 8.2. Jan/Dec-2010 Jan/Dec-2009 Capitalization Companies BRASILCAP 1.553 23% 37% 1.134 23% BRADESCO 1.412 21% 41% 1.000 20% ITAÚ UNIBANCO 981 15% 14% 863 18% CAIXA 588 9% 26% 465 9% ICATU 525 8% 29% 406 8% SANTANDER 501 7% 50% 333 7% SULACAP 470 7% 67% 281 6% HSBC 253 4% 30% 194 4% LIDERANÇA 237 4% 66% 143 3% APLUB 164 2% 66% 99 2% Other Companies 19 0% 121% 8 0% Total Capitalization Companies 6.701 100% 36% 4.927 100%

9. Combined Rate for the Earned Premium Top 50 in Written Premium 2009 2010 1º UBF 46% 1º COFACE 41% 2º J. MALUCELLI 59% 2º J. MALUCELLI 56% 3º SAFRA 64% 3º CAIXA 62% 4º CAIXA 67% 4º SAFRA 63% 5º HSBC 70% 5º HSBC 65% 6º PANAMERICANA 76% 6º UBF 68% 7º COFACE 82% 7º BCO. DO BRASIL (1) 81% 8º BCO. DO BRASIL (1) 84% 8º ITAÚ UNIBANCO 84% 9º UNIMED 86% 9º BRADESCO 87% 10º ITAÚ UNIBANCO 87% 10º UNIMED 88% 11º CIAC 89% 11º BERKLEY 88% 12º BRADESCO 90% 12º CIAC 90% 13º EXCELSIOR 93% 13º MONGERAL AEGON 92% 14º BANESTES 95% 14º ALLIANZ 94% 15º SANTANDER 96% 15º FEDERAL 94% 16º AMERICAN LIFE 96% 16º SINAF 95% 17º QBE 97% 17º MAPFRE (1) 96% 18º NOBRE 97% 18º AMERICAN LIFE 96% 19º ACE 97% 19º CARDIF 96% 20º ASSURANT 97% 20º QBE 97% 21º CHUBB 97% 21º ACE 97% 22º SINAF 98% 22º NOBRE 98% 23º MONGERAL SEG. E PREVIDÊNCIA 99% 23º BANESTES 98% 24º ALLIANZ 99% 24º SANTANDER 98% 25º MAPFRE (1) 100% 25º PREVIDÊNCIA DO SUL 98% 26º MUTUAL 100% 26º PORTO SEGURO 98% 27º ALIANÇA DA BAHIA 100% 27º SABEMI SEG. 99% 28º PREVIDÊNCIA DO SUL 100% 28º CONFIANÇA 99% 29º ICATU 101% 29º MUTUAL 100% 30º CONFIANÇA 101% 30º ALFA 100% 31º PORTO SEGURO 101% 31º CHUBB 101% 32º CARDIF 102% 32º ROYAL & SUNALLIANCE 101% 33º FEDERAL 102% 33º MITSUI SUMITOMO 101% 34º ALFA 102% 34º HDI 102% 35º ROYAL & SUNALLIANCE 102% 35º ASSURANT 103% 36º HDI 103% 36º CONAPP 103% 37º SUL AMÉRICA (1) 107% 37º VIRGINIA SURETY 103% 38º LIBERTY 108% 38º LIBERTY 105% 39º ZURICH 110% 39º SUL AMÉRICA 106% 40º VIRGINIA SURETY 111% 40º METLIFE 106% 41º YASUDA MARÍTIMA 112% 41º ZURICH 107% 42º FATOR SEGURADORA 113% 42º YASUDA MARÍTIMA 107% 43º GENERALI 114% 43º ICATU 108% 44º CONAPP 116% 44º TOKIO MARINE 108% 45º TOKIO MARINE 121% 45º ALIANÇA DA BAHIA SEG. 117% 46º MITSUI SUMITOMO 122% 46º GENERALI 119% 47º PRUDENTIAL 157% 47º CHARTIS 121% 48º BERKLEY 158% 48º FATOR SEGURADORA 157% 49º CHARTIS 178% 49º PRUDENTIAL 227% 50º METLIFE 339% 50º FAIRFAX 393% TOTAL 97% TOTAL 92%

10. Net Profit of Insurance, Private Pension and Capitalization Segments (Health Not Included) Segments Annualized Annualized Annualized US$ US$ US$ Rate of Rate of Rate of million million million Return (*) Return (*) Return (*) Insurance And Private Pensions 4.971 16% 1% 3.219 18% 5.305 17% 7% Capitalization 549 15% -19% 613 27% 653 17% 19% Total 5.520 16% 44% 3.831 19% 5.958 17% 8% (*) About Shareholders Equity at end of Period 11. Top Ten in Net Profit (Health Not Included) Jan/Dec-2010 Jan/Dec-2009 Annualized Annualized US$ US$ Rate of Rate of million million Return Return BRADESCO 1.559 23% -10% 1.739 31% ITAÚ UNIBANCO 836 9% 21% 690 9% BCO. DO BRASIL (1) 535 44% 55% 344 48% CAIXA 460 28% 34% 343 25% SUL AMÉRICA 280 20% 70% 164 14% MAPFRE (1) 226 18% 161% 86 9% PORTO SEGURO 183 17% 30% 141 16% HSBC 182 17% 37% 133 13% SANTANDER 152 10% -15% 179 12% FATOR SEGURADORA 96 151% 32495% 0 1% Other 447 8% -14% 522 10% Total 4.954 16% 14% 4.341 17% 12. Written Premiums and Net Profit of the (Health Not Included) Characteristics of with distribution by the bank channel with participation of foreign capital with national capital and without distribution by the bank channel Jan/Dec-2010 Jan/Dec-2009 Written Premium Net Profit Written Premium Net Profit Annualized US$ Rate of million Return Annualized US$ Rate of million Return) 33.605 66% 36% 3.759 17% 8% 24.750 64% 3.472 19% 13.093 26% 27% 779 11% 23% 10.274 27% 633 11% 4.516 9% 29% 416 17% 76% 3.513 9% 236 11% Total 51.214 100% 33% 4.954 16% 14% 38.537 100% 4.341 17%

13. Top Ten in Shareholders Equity December, 2010 December, 2009 ITAÚ UNIBANCO 9.457 30% 25% 7.593 29% BRADESCO 6.893 22% 21% 5.688 22% CAIXA 1.623 5% 20% 1.350 5% SANTANDER 1.541 5% 7% 1.439 6% SUL AMÉRICA 1.384 4% 19% 1.160 4% MAPFRE (1) 1.271 4% 35% 944 4% BCO. DO BRASIL (1) 1.204 4% 67% 723 3% PORTO SEGURO 1.068 3% 19% 895 3% HSBC 1.064 3% 5% 1.015 4% TOKIO MARINE 503 2% 8% 467 2% Other 5.305 17% 12% 4.730 18% Total 31.314 100% 20% 26.003 100% 14. Evolution of Consolidated Profitability of Insurance Companies Period 2009 2010 Jan 21% 16% Jan/Feb 20% 17% Jan/Mar 17% 16% Jan/Apr 19% 16% Jan/May 18% 17% Jan/Jun 17% 17% Jan/Jul 17% 17% Jan/Aug 16% 17% Jan/Sep 16% 16% Jan/Oct 15% 16% Jan/Dec 15% 17% Jan/Dec 15% 16% Profitability (Annualized Rate) = Net Profit of Period / Shareholders Equity at end of Period

15. Technical Reserves in Relation to GDP Technical Provisions Insurance Technical Provisions Private Pensions Technical Provisions Capitalization Technical Provisions Total Technical Provisions (*) Estimated December, 2010 December, 2009 Estimated 2011 US$ on GDP US$ on GDP US$ on GDP million 2010* million 2009 million 2011 103.244 5,00% 31% 78.922 4,93% 122.718 5,15% 19% 54.310 2,63% 18% 45.916 2,87% 59.330 2,49% 9% 10.356 0,50% 21% 8.579 0,54% 10.915 0,46% 5% 167.909 8,14% 26% 133.417 8,34% 192.962 8,10% 15% 16. Top Ten in Insurance Technical Provisions December, 2010 December, 2009 BRADESCO 29.639 29% 25% 23.740 30% ITAÚ UNIBANCO 24.591 24% 24% 19.851 25% BCO. DO BRASIL (1) 12.266 12% 64% 7.492 9% SANTANDER 8.759 8% 40% 6.265 8% CAIXA 7.340 7% 34% 5.460 7% HSBC 2.871 3% 35% 2.120 3% PORTO SEGURO 2.200 2% 25% 1.762 2% MAPFRE (1) 2.161 2% 26% 1.718 2% SUL AMÉRICA 1.982 2% 20% 1.653 2% ALLIANZ 1.190 1% 14% 1.041 1% Other 10.245 10% 31% 7.819 10% Total 103.244 100% 31% 78.922 100%

17. Information on Reinsurance 17.1. Vision of Reinsurance by Kinds of o Insurance Groupings Kinds Of Insurance Groupings Written Premium Premium Retained by Insurance Companies Jan/Dec-2010 US$ million Estimated 2011 % Retained Premium Ceded by Insurance Companies % Ceded Claims Retained by Insurance Companies on Premium Retained on Premium Earned Premium Ceded by Insurance Companies Special Risks 98 15 15% 83 85% 8 54% 41% 98 84% Hull Marine 325 108 33% 217 67% 66 61% 70% 239 65% Responsibilities 426 221 52% 205 48% 75 34% 36% 236 49% Rural 582 307 53% 274 47% 95 31% 34% 359 50% Property 3.241 2.146 66% 1.095 34% 734 34% 36% 1.242 34% Credits 242 177 73% 65 27% 47 27% 24% 70 27% Financial Risks 1.700 1.396 82% 304 18% 188 13% 18% 368 19% Transports 1.180 1.025 87% 155 13% 585 57% 56% 173 13% Housing 628 606 96% 23 4% 148 24% 31% 24 3% Life And Personal Accident 8.935 8.787 98% 148 2% 2.732 31% 35% 142 1% Automobile 11.341 11.269 99% 72 1% 6.736 60% 64% 87 1% Total of the Groupings with Reinsurance 28.699 26.058 91% 2.641 9% 11.415 44% 48% 3.038 9% Variable Annuity 20.868 20.868 100% 22 0% 12% Dpvat(*) 1.647 1.647 100% 1.450 88% 88% Total 51.214 48.573 95% 2.641 5% 12.887 27% 50% 3.038 5% (*) Compulsory Insurance Of Personal Damage Caused By Road Vehicles % Ceded Important: The information below, related to local reinsurers, has a lag of one month due to the timing of the arrival and publish of the data by SUSEP. 17.2.2. Local Reinsurers in Retained Premiums Jan/Nov-2010 Jan/Nov-2009 Local Reinsurers IRB BRASIL 608 56% -53% 1.305 87% MUNICH RE 191 17% MAPFRE RE 105 10% 59% 66 4% J. MALUCELLI RE 92 8% 12% 81 5% XL RESSEGUROS 74 7% 36% 54 4% ACE 25,9 2,4% Total 1.094 100% -27% 1.506 100%

17.3.3. Local Reinsurers in Shareholders Equity November, 2010 November, 2009 Local Reinsurers Growt h IRB BRASIL 1.257 80% 5% 1.199 89% MUNICH RE 88 6% XL RESSEGUROS 65 4% 7% 61 4% J. MALUCELLI RE 61 4% 24% 50 4% MAPFRE RE 50 3% 16% 43 3% ACE 49 3% Total 1.570 100% 16% 1.353 100% 17.4.4. Local Reinsurers in Net Profit Jan/Nov-2010 Jan/Nov-2009 Local Reinsurers Annualized Annualized US$ US$ Rate of Rate of million million Return (*) Return (*) IRB BRASIL 160,8 14,0% -5% 169,2 15,5% J. MALUCELLI RE 9,4 16,9% 54% 6,1 13,5% MUNICH RE 5,9 7,4% ACE 5,1 11,3% MAPFRE RE 4,4 9,6% 248% 1,3 3,2% XL RESSEGUROS 3,9 6,6% - 0,0 0,0% Total 190 13,2% 7% 176,6 14,3% (*) About Shareholders Equity at end of Period (1) observation on groups In the total of Bco. do Brasil and Mapfre Insurance groups, the stockholding participation of each group in the "Mapfre Nossa Caixa" was considered. São Paulo, February 2011