The Board of Codan Limited announced that Mr. David Klingberg AO has decided to retire from the Board of the company at the conclusion of the company's annual general meeting to be held in October 2015. Mr. Klingberg was appointed to the Board in July 2005, and over his 10 years of service has made a significant contribution to Codan's success, having served as Chairman of the Nomination Committee and as a member of the Board Audit, Risk and Compliance Committee. The Board also announced that Mr. Peter Griffiths, who has been a Codan director since July 2001, and has served as Chairman of the Board Audit, Risk and Compliance Committee and as a member of the Nomination Committee, has advised the Board of his intention to retire.

At the request of the Chairman, Mr. Griffiths has consented to delay his retirement by approximately six months to assist with the transition of recently appointed directors to roles on the committees he serves. Mr. Griffiths' diligence and commitment will be missed.