June 25, 1997 MMI Companies, Inc. 540 Lake Cook Road Deerfield, IL 60015-5290 Dear Sirs: The undersigned understands that you have entered into an Acquisition Agreement dated as of June 25, 1997 (the "Acquisition Agreement"), by and between you, MMI...Mmi Companies Inc • November 6th, 1997 • Surety insurance • Delaware
The undersigned understands that you have entered into an Acquisition Agreement dated as of June 25, 1997 (the "Acquisition Agreement"), by and between you, MMI Companies, Inc., a Delaware corporation ("Buyer") and Unionamerica Holdings plc, a corporation organized under the laws of England and Wales (the "Company"), pursuant to which the Company shall become your wholly owned subsidiary pursuant to the acquisition by you, solely for your voting common stock, par value $0.10 per share (the "Buyer Common Stock"), of all of the American Depository Shares ("ADSs"), representing all of the ordinary shares, nominal value $0.0448 per share, of the Company (such ADSs being referred to as "Company Common Stock"), and all of the deferred stock of the Company, par value L1 per share (the "Company Deferred Stock"), through (i) the Offer (as defined in the Acquisition Agreement) and (ii) the subsequent compulsory acquisition of any remaining shares of Company Common Stock solely for voting Buyer C
