# Reinsurance Track Record

This is the track record of the senior underwriting team behind ONyc prior to joining OnRe. This is presented to showcase the mechanics of a mature reinsurance portfolio. It is not indicative of present or future ONyc performance, but does highlight the strategy we are building at OnRe as we scale

<table><thead><tr><th valign="top">Metric</th><th valign="middle">2013</th><th valign="middle">2014</th><th valign="middle">2015</th><th valign="middle">2016</th><th valign="middle">2017</th><th valign="middle">2018</th><th valign="middle">2019</th><th valign="middle">2020</th></tr></thead><tbody><tr><td valign="top"><strong>Written Premium (net of brokerage)</strong></td><td valign="middle"><strong>$48.54M</strong></td><td valign="middle"><strong>$62.32M</strong></td><td valign="middle"><strong>$67.18M</strong></td><td valign="middle"><strong>$70.53M</strong></td><td valign="middle"><strong>$80.27M</strong></td><td valign="middle"><strong>$84.70M</strong></td><td valign="middle"><strong>$87.00M</strong></td><td valign="middle"><strong>$98.00M</strong></td></tr><tr><td valign="top">P/L Percentage</td><td valign="middle">59.41%</td><td valign="middle">22.34%</td><td valign="middle">70.38%</td><td valign="middle">59.88%</td><td valign="middle">55.77%</td><td valign="middle">39.67%</td><td valign="middle">16.90%</td><td valign="middle">69.69%</td></tr><tr><td valign="top"><strong>Gross Underwriting Profit</strong></td><td valign="middle"><strong>$28.84M</strong></td><td valign="middle"><strong>$13.92M</strong></td><td valign="middle"><strong>$47.28M</strong></td><td valign="middle"><strong>$42.23M</strong></td><td valign="middle"><strong>$44.77M</strong></td><td valign="middle"><strong>$33.60M</strong></td><td valign="middle"><strong>$14.70M</strong></td><td valign="middle"><strong>$68.30M</strong></td></tr><tr><td valign="top">Reinsurance Cost</td><td valign="middle">($4.85M)</td><td valign="middle">($0.03M)</td><td valign="middle">($6.72M)</td><td valign="middle">($7.05M)</td><td valign="middle">($8.03M)</td><td valign="middle">($0.92M)</td><td valign="middle">$9.45M</td><td valign="middle">($9.80M)</td></tr><tr><td valign="top">Business Expenses</td><td valign="middle">($7.50M)</td><td valign="middle">($7.50M)</td><td valign="middle">($7.50M)</td><td valign="middle">($7.50M)</td><td valign="middle">($7.50M)</td><td valign="middle">($7.50M)</td><td valign="middle">($7.50M)</td><td valign="middle">($7.50M)</td></tr><tr><td valign="top">Total Investment Income</td><td valign="middle">$1.98M</td><td valign="middle">$2.55M</td><td valign="middle">$2.74M</td><td valign="middle">$2.88M</td><td valign="middle">$3.28M</td><td valign="middle">$3.46M</td><td valign="middle">$3.55M</td><td valign="middle">$4.00M</td></tr><tr><td valign="top"><strong>Net Income</strong></td><td valign="middle"><strong>$18.46M</strong></td><td valign="middle"><strong>$8.94M</strong></td><td valign="middle"><strong>$35.81M</strong></td><td valign="middle"><strong>$30.56M</strong></td><td valign="middle"><strong>$32.52M</strong></td><td valign="middle"><strong>$28.64M</strong></td><td valign="middle"><strong>$20.20M</strong></td><td valign="middle"><strong>$55.00M</strong></td></tr><tr><td valign="top">Return on Capital</td><td valign="middle">66.58%</td><td valign="middle">25.09%</td><td valign="middle">93.27%</td><td valign="middle">75.83%</td><td valign="middle">70.91%</td><td valign="middle">59.17%</td><td valign="middle">40.64%</td><td valign="middle">98.22%</td></tr></tbody></table>


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