Summa Insurance Brokerage, S. L.

In January 2005 the Group provided finance to a Madrid-based Spanish management team with the objective of acquiring and consolidating regional insurance brokers in Spain. Summa has acquired brokers in throughout Spain in 18 locations. Through acquisition Summa has been able to achieve synergistic savings, economies of scale and greater collective bargaining thereby increasing overall value. Summa continues to seek new opportunities in Spain.