Solvency & Financial Condition Report

The Solvency & Financial Condition Report (“SFCR”) has been prepared in accordance with the requirements of the Solvency II Directive and related Delegated Regulation as transposed into the Luxembourg Insurance Law of 7 December 2015.

The report covers Business & Performance, System of Governance, Risk Profile, Valuation for Solvency Purposes and Capital Management and, as a single document, includes the disclosure obligations for the following regulated entities:

• The West of England Ship Owners Mutual Insurance Association (Luxembourg) – Group
• The West of England Ship Owners Mutual Insurance Association (Luxembourg) – Entity
• International Shipowners Reinsurance Company S.A. (“ISRe”)