Artémis group has built up considerable expertise in the specific insurance field of closed portfolio management or "run-off".

Aurora National Life Assurance Company is a Californian company 67%-held by Artémis Group. At 31 December 2006, Aurora 's assets amounted to $3.4 billion against a portfolio of over 110,000 policies.

Tawa UK, , is a pure play investment vehicle in the run-off market, established in the UK in April 2001 by Financière Pinault. Tawa UK owned 100% of the capital in Tawa Management, a service provider, and that of CX RE, a run-off company. In March 2006, Tawa UK sold part of the capital of CX RE to two UK financial institutions. Regarding Run-off property and casualty insurance, the Group’s know-how is mainly focused on early termination of portfolios under management, in order to limit any potential deterioration regarding the covered risks. Tawa UK acquires and manages: - property and casualty insurance portfolios or non-life insurance and reinsurance companies that no longer issue new policies, - providers of specialist services in the property and casualty run-off sector. Originally the sole investor in Tawa UK, Financière Pinault plans to enlarge the circle of investors either by raising capital on the financial markets or using Tawa UK shares to pay for any new business contributions brought to the table.

CX RE When CX RE was acquired in 2002, it was one of the largest run-off companies in the London market, with $1.7 billion in discounted technical reserves. The company actively pursued the commutation programme launched in 2002, and paid out approximately USD 346 million to its clients this year, including a large amount as part of commutations (buying back their policies). Gross discounted technical reserves have been significantly reduced and currently stand at USD 415 million (USD 700 million in 2005). CX RE has thus significantly reduced its exposure to possible future deterioration in its covered risks.