Paris—Terry O'Reilly met today with representatives of Lloyds of London to discuss settlement on behalf of twenty Australian and Indonesian families involved in the crash of Garuda Flight 200 on March 7, 2007 at Yogyakarta, Indonesia. The Boeing 737 attempted a high speed landing and careened off the runway after the nosewheel collapsed. Some of the passengers survived, with severe burns.

Subsequent investigation has shown that the crew was poorly trained and that the captain may have been attempting to achieve a bonus by landing early. Boeing has not yet explained why the nose gear failed.

Mr. O'Reilly expressed hopes for an early resolution of the case. "Recent discussions with Lloyds have lead to prompt and fair settlements in other Indonesian cases and we hope for that here."

In March 2007, Mr. O'Reilly settled the Adam Air B737 accident of January 1, 2007, a record early settlement. This was followed in October, 2007 with the settlement of Air Phillippines 541 for $165,000,000, also a record for settlement of an Asian air disaster.

"I believe that the recovery of Lloyds from the catastrophes of the Nineties has lead to a cultural change which is better for investors and insureds."