Updates

Press Release -

New Nepal Office

Dated 3rd July 2006

JCC Re are pleased to announce that agreement has been reached with Messrs Dhandeep Marketing Pvt Ltd for the establishment of a contact office in Kathmandu Nepal.  This will become a representative office as soon as regulatory formalities have been complied with.  Mr Pushpa Das Shrestha, a highly experienced retired former company Chief Executive will head the office in Kathmandu.

JCC Re feel that there is a great potential in Nepal for the insurance industry with greater political stability and obvious areas for development in tourism and related activities.

JCC Re's Consultants

We believe that the appointment of highly qualified specialist consultants adds value to clients.  Our view of insurance business development is that it is not constructive to recycle the same business - usually at lower prices. What is needed is new products to sell to the insuring public.  Additionally to Mr Sivanathan in the KL insurance market and Haji Mohd Nor our Retakaful supervisor/consultant, we have appointed Mr Ravi Gunawardana and Mr John Dockerill.

Mr. Ravi Gunawardana a member of the Canadian Million Dollar Life Sales Club will assist with development of JCC Re's business in the Arabian Gulf, Sri Lanka and Nepal as well as handling life reinsurance business. In early course JCC Re intend to establish a high net worth financial planning division based in Kuala Lumpur.

Mr. John Dockerill based in the UK is a specialist in extended warranty business which he has handled in UK and Europe for many years. His company are able to offer complete administration solutions including rating(based on worldwide data but assimilated to local conditions) policy wordings and full statistical and accounting controls using their own website. Warranty is for new and used motor vehicles as well as brown and white goods either as a supplement to the manufacturers/suppliers warranty – additional period/mileage for example or as a stand alone warranty to replace that provided by the manufacturers.

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