DGAP-News: Enterprise Insurance starts business in Ireland

DGAP-News: Enterprise Holdings Limited / Key word(s): Alliance/Incoming Orders Enterprise Insurance starts business in Ireland - Cooperation with Ireland's largest underwriting agency 11.02.2015 / 14:13 --------------------------------------------------------------------- Enterprise Insurance starts business in Ireland Cooperation with Ireland's largest underwriting agency Enterprise Insurance Company plc commenced writing private car business in association with Wrightway Underwriting Ltd., the largest underwriting agency in Ireland. The additional annual Gross Written Premium is expected to be 7 million GBP (9 million euro). Enterprise Insurance supports Wrightway's "Smart" insurance product which targets profitable segments of the overall market, predominately mature drivers with maximum NCD (No Claime Discount) and specifically company directors with executive vehicles. Andrew Flowers, founder and CEO of Enterprise Holdings said: "We have been interested in the Irish market for some time and consider Wrightway the ideal partner with which to work. Ireland's growth performance in 2014 was considerably stronger than expected and all economic indicators are suggesting that the recovery is strong and is continuing to gather momentum. Car sales are making a significant contribution to the recovery in retail sales. The market is attractive to us and the expansion into this new territory is in line with our strategy of seeking out profitable niche markets with high margins in a variety of European countries." Update on Special Account According to the terms and conditions of the bond, the issuer shall regularly deposit money in a specially designated bank account to secure the bond holders' position. Therefore the company credited 11,870,000 euro to this separate bank account and also transferred the first two interest payments of 2,450,000 euro each to the bond holders on 26 September 2013 and 2014 respectively. Therefore the current credit balance in the special account is 7,000,000 euro which includes the interest payment received from the bank for 2013 and 2014. The special account's monthly development is published regularly on the company's website www.enterprise-holdings.de -> bond -> factsheet. End of corporate news Wrightway Underwriting Limited, Ireland Wrightway is on the market since 1999 and is Ireland's largest underwriting agency. The Irish motor insurance market is relatively small with a total Gross Written Premium (GWP) of EUR 1.1 billion and comprising approximately two million private cars and 300,000 commercial vehicles. Wrightway provides underwriting and insurance services to a number of insurance companies. Wrightway targets specific profitable segments and provides full operational support to insurers. It has over 80,000 policyholders through a countrywide panel of over 300 brokers. http://www.wrightway.ie Enterprise Holdings Ltd. Group - an owner-lead insurance firm Lead by its founder the company holds several other subsidiaries together with affiliated service companies. The Group offers independent white label general insurance solutions, apart from life insurance products. The affiliated companies deliver insurance specific auditing services as well as administrative and marketing services. The Group focuses its activities on high-yield niches within the European general insurance market. The main category of the offered insurances is in the field of automobile damage and third party insurance, legal costs insurance, household contents insurance and guarantees. Main markets are currently the United Kingdom, France, Greece and Italy. http://www.enterprise-holdings.de Bond issue Enterprise Holdings' corporate bond is listed in the Entry Standard segment at Boerse Frankfurt (International Security Identification Number (ISIN): DE000A1G9AQ4). The follow-up rating in 2014, as well as in 2013, confirmed the A- rating that has been achieved in August 2012 when Enterprise Holdings issued a 35m euro bond. For more information about the bond please visit our website, especially the section "Bond" at www.enterprise-holdings.de Bond Investor Relations / Press Please direct all your requests to: max. Equity Marketing GmbH Maximilian Fischer Marienplatz 2 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@enterprise-holdings.de IMPORTANT NOTE - Disclaimer Prospective investors of the Securities should recognise that the Securities constitute a risk investment, which can lead to a total loss of their investment in the Securities. Potential investors must therefore be prepared and able to sustain a partial or even a total loss of the invested capital. Any investors interested in purchasing the Securities should assess their financial situation, to ensure that they are in a position to bear the risks of loss connected with the Securities. Therefore, please contact your credit and securities institutions. The admissibility of the acquisition of a security may at various conditions, especially your nationality be bound. Please inform yourself before an investment. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Enterprise Holdings Limited ("issuer"). A decision on an investment in the securities of the issuer may only be made on the basis of the securities prospectus ("prospectus") which is approved by the Federal Financial Supervisory Authority (BaFin) and is published on the website www.enterprise-holdings.de. Only the information contained in the prospectus is binding in connection with the offer. This information may not be disseminated outside of Germany and Austria, in particular not in the United States, to US Persons according to regulation S of the US Securities Act of 1933 or to publications with a general circulation in the United States. Any person who fails to comply with these restrictions may violate the security laws of certain jurisdictions, in particular of the United States. Bonds in Enterprise Holdings Limited are not publicly offered outside of Germany and Austria. The Notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the Notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The securities mentioned in this press release are not being and will not be offered for sale to the public in the United States, Australia, Canada and Japan. --------------------------------------------------------------------- 11.02.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 322155 11.02.2015