SAMIR H. SHAH

1. SAMIR H. SHAH CHIEF FINANCIAL OFFICER Membership no. - 045476 Member of Executive Management, CFO & Company Secretary – HDFC ERGO General Insurance Company Limited CA SAMIR H. SHAH

2. HDFC ERGO General Insurance Company Limited • Turnover (Gross Written Premiums) of the Company in Rupees: 1,874 Crores (Financial Year ended on March 31, 2012) • Net worth of the Company: Rupees 532 crores (Financial Year ended on March 31, 2012) • Market Capitalization of the Organization: the Company is an Unlisted company CA SAMIR H. SHAH

3. KEY ROLE IN THE ORGANIZATION • The role in the Company mainly comprises of management of financial and compliance functions and Risk Management. As a key member of the corporate team, responsibilities include: • The fiscal functions of the Company in accordance with the business objectives and the regulatory environment in the country. • Partnering CEO • in the task of directing and managing the organization towards achieving challenging growth and profitability targets. • Contributing to the knowledge and implementation of best practices in insurance in the Company. • Disseminate information into `business relevant’ structured outputs from perspectives of decision making / enabling CEO in his decisions (“smell” the significant issues / derivations from available data) • Financial Planning and analysis, processes that support business growth and ensure “no surprises” environment – use of rigorous financial reviews, portfolio mix and quality analytics • Overseeing the financial and management reporting with utmost integrity and quality, budgeting, internal audit, risk management, statutory reporting, taxation and a broad range of financial projects • Member of the Investment Committee of the Company, a Committee constituted by Board of Directors. • Management of compliance with various statutory and regulatory requirements • Management of secretarial function, Shareholder relations and Regulatory bodies’ relationships – Implementation of Corporate Governance framework CA SAMIR H. SHAH

4. KEY ROLE IN THE ORGANIZATION • Management of Corporate legal function • Management of Enterprise wide Risk management function • Overall objective: Integration of the different elements of the finance function (Controllership, planning, Analysis, Compliance and Enterprise wide Risk Management) into a coordinative and vibrant ‘business-result’ oriented matrix. CA SAMIR H. SHAH

5. MAJOR ACHIEVEMENTS • After joining the Company in September 2006, the Company underwent metamorphosis through change in management for a year and thereafter tying up with a new joint venture partner. • During the transition period of the Company, managed and controlled the change process in terms of • Actively participating in the evaluation and selection of new joint venture partner in 2007 • Improving reporting quality to the Board of Directors/Shareholders, dovetailing compliance and Corporate Governance focus with the business focus, building a team of dedicated finance professionals • Preparing a platform for launching the Company alongwith the new joint venture partner and new management team • Post new joint venture and appointment of new management team, • Provided a vital link between the earlier and the new business model of Company and partnered CEO in transforming the Company in to a vibrant and respectable company in the general insurance industry. • During past 5 years, the Company moved up from 8th rank amongst the private sector general insurance company in March 2007 to 4th rank in March 2012. • During the period the Company grew at a CAGR of 56% from Rs. 223 crores in March 2007 to Rs. 2074 crores in March 2012. CA SAMIR H. SHAH

6. MAJOR ACHIEVEMENTS • For the year ended on March 31, 2012, HDFC ERGO was the only company in the industry to have all the following key elements for evaluating a general insurance company together: • Combined ratio (before Motor Pool losses) of less than 100% (92.5%) AND • Having solvency ratio above regulatory requirement of 1.50 (1.57) AND • Also compliant on the requirement of limitation of Expenses under Section 40C of the Insurance Act, 1938 (86% of requirement). • HDFC ERGO was the only general insurance company to be awarded for Excellence in Financial Reporting for Annual Report for March 31, 2011. The above was achieved through the following: • Partnering business • Building reliable information framework for business decisions. Encouraging finance professional to focus on improving quality of financial reporting resulting in timely, accurate and relevant data for identifying business improvement areas • Education of business information to support the business teams understand the financial, regulatory and compliance impact of various decisions CA SAMIR H. SHAH

7. MAJOR ACHIEVEMENTS • Building Compliance culture and framework for educating and implementing compliance framework • As Chief risk Officer of the Company, designing and implemented Enterprise wide Risk Management framework for managing Insurance risks, Asset risks and Operational risks faced by the Company • Performing key role as Company Secretary of the Company in compliance with the Corporate Governance framework within the organization and shareholders relations management • At an ICAI/industry level participated in industry level deliberations on issues of common interest; • Member of the Core Group for identification of issues in the implementation of IFRSs in the context of insurance laws and regulations for submission to the Sub-group of ICAI for Liaising with the Government and Regulatory Authorities • Member of Working Group of IRDA on Convergence to IFRS, • Member of Sub-group to review the applicability of various accounting and accounting regulations (including to the reinsurance companies) • Member of group of specialists for discussing and recommending to Operational Committee of IRDA on various accounting issues related to Indian Motor Third Party Declined Risk Pool CA SAMIR H. SHAH