GROUP TAX STRATEGY

Accredited Insurance (Europe) Limited and Accredited Insurance UK Limited - UK Tax Strategy

Accredited Insurance (Europe) Limited (‘AIEL’) and Accredited Insurance UK Limited (‘AIUKL’) are members of a specialty insurance group providing insurance capacity to Managing General Agents across the US, UK and Europe (‘the Accredited Group’). Each of AIEL (as a company established in Malta which operates in the UK through a UK branch) and AIUKL (as a UK company) is required to publish this statement setting out its strategy with respect to UK taxation matters.

This Tax Strategy statement has been approved by the respective boards of AIEL and AIUKL (referred to below as ‘the Companies’) as compliant with the requirements of

paragraph 22(2), Schedule 19, Finance Act 2016 for the current financial year ending 31 December 2024.

How the Companies manage Tax Risk

The Companies’ Tax Strategy is aligned with that of the Accredited Group as a whole and centers around the Accredited Group’s commitment to fulfill its tax compliance obligations and ensure it pays the right amount of tax in all jurisdictions in which it operates, including the UK.

The Accredited Group has a robust risk governance framework across the business which is set by the board of the Accredited Group’s ultimate parent company (the ‘Parent Board’). The Risk and Capital Committee reports to the Parent Board on a quarterly basis and any material tax risks are recorded. The Audit Committee, which also reports to the Parent Board, is regularly updated on all significant tax matters across the Accredited Group.

The Accredited Group engages with external advisers to ensure that it has sufficient awareness of any new or emerging tax risks, to ensure that tax compliance and filing obligations are met, and to gain advice on technical issues or uncertain matters. The Finance Team regularly engages with key business areas to ensure that tax matters can be given due attention.

The Chief Financial Officer is responsible for the effectiveness of, and compliance with the Accredited Group’s processes and controls in relation to tax.

Each of the Companies adheres to the processes and controls applicable to the Accredited Group as a whole.

The Companies’ Attitude to Tax Planning

As part of the Accredited Group, the Companies do not undertake aggressive tax planning in the UK or elsewhere. Where there are complexities or ambiguities in a particular area of tax law, we seek the support of external advisers as necessary with a view to following the correct treatment under tax law.

We only undertake transactions which are commercially driven and we do not support the undertaking of any activities which may cause an artificial or contrived tax outcome. Where possible, the Companies will utilize tax credits and tax reliefs which are available under local (including UK) law, in a manner consistent with the policy intention of the relevant legislation.

How the Companies determine an acceptable level of risk for Tax Purposes

The Companies will have due regard for the legislation, guidance or notices issued by HMRC and other local tax authorities, local practices, any relevant case law, commercial

and regulatory consequences, and any other relevant matters in determining whether or not a particular risk is acceptable.

The Companies will not take a position that may undermine their relationships with HMRC or any other tax authority, nor that may be likely to give rise to reputational damage.

How the Companies work with Tax Authorities

The Companies are respectful of the role of HMRC and other tax authorities and conduct their tax affairs in an open and transparent manner, engaging promptly with all such authorities and adopting a co-operative approach to resolving queries as they arise.