LONDON AVIATION UNDERWRITERS, INC.

226 SECOND AVENUE WEST · SEATTLE, WA ·98119-4204 · (206) 285-5401 · FAX (206) 284-9808

London Aviation Underwriters, Inc.(LAU) was founded in 1980 by Michael E. Charlesworth as a Surplus Lines Brokerage house to handle aviation risks in the Pacific Northwest. At the time, we provided a specialty market for preferred risks in Alaska, when there were few options available to the aviation insurance buyer. Seeing a need for an admitted market in Alaska, and to answer the needs of more standard risks, LAU set up an Underwriting Agreement with the American Empire Insurance Company in 1983.

The original program provided a market for business and pleasure, owner/pilot charters, and lodge/guide operators who require only minimum limits of liability, and was limited to around 20 states.

For several years, the general aviation program grew an average of 20 - 25% per year, and was moved to John Deere Insurance Company in 1997. During the period following, the premium volume grew to $12,000,000 in 26 states, but when John Deere Insurance Company was purchased, at the end of 1999 by a large mutual insurance company, LAU again moved their program.

Since the fall of 2000 we have been associated with North American Specialty Insurance Company (NAS) and look forward to a long and profitable relationship with this A++ XIV rated company. We now write up to $10,000,000 CSL liability limit, with a maximum of $3,000,000 hull physical damage. We have limited our producer list to less than 200 agents in order to provide the best service and consistent underwriting of the unusual and more difficult risks.

We have grown, too, in numbers of employees and in the fall of 2001 bought a building which should house us for the next 5 - 10 years. Thanks for your part in that growth.