Acres Insurance Limited (the “Company”) is being created for food and agriculture companies and related businesses, in particular growers, producers, processors and distributors of food related products, to obtain adequate insurance coverage at affordable rates and to be treated as a partner in the overall risk management process. The founders of the Company perceive that the commercial insurance industry is not responsive to this basic commercial necessity.

The Company will be licensed and managed in the Cayman Islands to reinsure the risks of its shareholder insureds written by a Policy Issuing Carrier which is licensed and provides insurance coverage in one or more states of the United States. Management endeavors to ensure that such Program Insurer is rated “A-” or higher by A.M. Best Company. The types of coverage initially written by the Company will be Workers’ Compensation, General Liability and Business Auto Liability and Physical Damage. The Company is capable of expanding into other types of coverages.

The Company believes that its management strength will lie in strong individual involvement by shareholders during semi-annual board meetings. It is anticipated that Committees will be established in the following areas to support the Board of Directors: Underwriting, Loss Control, Finance, Nominating and Member Development. The Board will rely on the recommendations of these Committees to establish policies. Day-to-day management of the Company will be provided by the Company’s licensed off-shore Insurance Manager.