Exhibit 99.(c)(2)

Quanta Capital Holdings

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This presentation and the information incorporated by reference in this presentation include forward looking statements within the meaning of Section 27A of
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include, but are not limited to, those relating to the effects of growth, revenues and earnings, our principal investing activities, levels of assets under
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important factors could cause our actual results to differ materially from those in the forward-looking statements. These factors include, but are not limited to,
the overall environment for interest rates, repayment speeds within the mortgage backed securities market, risk associated with equity investments, the
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associated with that business.

Cautionary Statement

Table of Contents

Situation Overview

II.

Series A Preferred

III.

OMITTED

IV.

FBR

IV.

OMITTED

Situation Overview

Quanta is considering its options pending permission from Bermuda to
release a significant amount of capital

Quanta currently has 3.1 million shares of Series A Preferred outstanding
with a stated 10.25% yield

No dividend payments have been made since 3/06

Quanta also has 2 pooled trust preferred issues outstanding

$40 million at 385 over 3-month LIBOR issued on 12/21/2004

$20 million at 350 over 3-month LIBOR issued on 2/24/2005

Interest payments have been deferred since 12/06

Quanta’s Board of Directors is considering the best use of proceeds with
regard to retiring the Series A Preferred, the pooled trust preferred issues,
or both

This presentation reviews and compares these options

SITUATION OVERVIEW

Series A Preferred

Trade History

Source: FactSet. Price history from 12/28/2005 to 4/9/2007.

First Class Action Lawsuit Filed
Against Quanta

Quanta Announces New Credit
Facility

Quanta Announces Third Quarter
2006 Financial Results

Quanta Files 2006 Annual Report
on Form 10-K

Quanta and Chaucer Formalize
Agreement To Create Pembroke
Managing Agency

Quanta Announces Second
Quarter 2006 Financial Results

Quanta and Chaucer Agree to
Create New Managing Agency
for Lloyd's Syndicate 4000

A.M. Best Downgrades and
Withdraws Ratings of Quanta

Quanta Announces Orderly Run-
off of Most Specialty Lines;
Quanta's Lloyd's Syndicate and
ESC Not Included in Run-off Plan

Quanta Issues Q4 2005 Loss
Guidance Below Analysts'
Expectations

A.M. Best Downgrades Ratings
of Quanta and Places the
Ratings Under Review With
Negative Implications

The Series A Preferred has been volatile since the company was downgraded,
but has realized some stability since Q3 earnings were released

SERIES A PREFERRED

FBR’s Trading Commitment

FBR has been a
leading trader in
Quanta’s Series A
Preferred Equity

Source: AutEx Block data. Trade volumes from 3/1/2006 to 4/4/2007.

SERIES A PREFERRED

FBR placed the Series A and has traded the vast majority of it

FBR is uniquely qualified to serve as tender manager

Trade Volume

Source: FactSet. Trade volumes from 3/1/2006 to 4/4/2007.

1.1 MM shares have traded between $16.00 and $18.00 since March 1, 2006

0.9 MM shares have traded between $18.00 and $20.00 since March 1, 2006

SERIES A PREFERRED

This chart indicates
the purchase price
ranges in which Series
A shares have been
purchased since
3/1/06 and is helpful
as we think about
potential tender prices
relative to where the
Series A has traded

Trailing 30 Day Average Trading Volume

Source: Bloomberg

SERIES A PREFERRED

The 30 day volume-weighted-average price is $19.34

With the exception of a
few large trades, this
issue has been and is
very thinly traded

Present Value of Preferred | INVESTOR PERSPECTIVE

$25.00 - Par

$25.25 - Change-of-control

$28.00 – Redemption after 5
year no-call period

Note: 1) Assumes no payout of preferred dividends over entire period of analysis

2) Discount rate varied from 8% (265 bps over 3-month LIBOR) to 14% (approximate
current yield of QNTA’s Series A Preferred)

The tables below show the present value of potential future payouts to preferred
holders over the next 4 years at 1 year intervals

After the 5 year no-call period, the redemption price is $28 per share declining
to $25 per share over five years

SERIES A PREFERRED

Present Value of Preferred | COMPANY PERSPECTIVE

If QNTA intends to forgo payment of preferred dividends and to call the
Series A Preferred at year end 2010, then QNTA should purchase shares
at prices up to $23.31

If QNTA intends to pay preferred dividends and to call the Series A
Preferred at year end 2010, then theoretically QNTA should purchase
shares at prices up to $31.41

SERIES A PREFERRED

Per Share ($)

Aggregate ($ 000)

Factors that could affect
pricing:

Any new litigation or
unforeseen changes to
current litigation

A large buyer trying to
establish a position has
the potential to materially
increase the current
market price

Momentum in the
tender offer process

Pricing Recommendation

Based on recent trading prices and trends, present value analysis and our
understanding of the holders, we recommend initiating a tender at
approximately $21.00 with room to increase the bid to the $22.00 - $22.50
range

The chart below shows the percent of preferred we would expect to be
tendered at various prices

Tender Price

SERIES A PREFERRED

Process Considerations

While the general theory is relatively simple and compelling, the execution of
this transaction will be very complicated with several moving pieces

Tender offer

Going private

Proxy

Bermuda law

Preferred security

Private purchases of the Series A are permissible and theoretically would be
possible ahead of a tender offer

However, we would strongly recommend against this approach

The private transactions would be subject to several rules and concerns

Lose ability to vote the shares / reduce momentum of tender offer process since low-hanging fruit is
no longer available

There could be no time table / time pressure in the private transactions

There would be no public solicitation

Concern with the possibility of ‘integrating’ the private purchases with an ensuing tender offer

SERIES A PREFERRED

Transaction Timeline

SERIES A PREFERRED

Transaction Timeline

SERIES A PREFERRED

FBR

Why FBR | UNIQUE SITUATION

There is nothing typical about the current situation or the potential tender
offer for the Series A

Run-off insurance company

Only 1 dividend paid to Series A holders

Release of capital is not certain

Bermuda law

Proxy process

FBR has a long track record of success in helping companies with difficult
and complex situations – situations that other capital markets participants
say are ‘impossible’

Initial capitalization

Preferred / common capital raise in December of 2005

FBR proposes using the investment banking team that managed the
common stock and Series A offerings in December of 2005 and helped
advise the company as it explored strategic alternatives in 2006 to execute
this transaction

This means that both outgoing and incoming calls will be handled by senior
investment bankers that are very knowledgeable with respect to all of the pertinent
issues. We have partnered with Quanta from its beginning. No firm could be better
positioned to understand the story and communicate it to the market as effectively as
FBR

FBR

Why FBR | KNOWLEDGE OF THE COMPANY

FBR is ideally situated to advise the company with regard to a tender offer
for its Series A Preferred Stock

Time is of the essence and FBR will be able to move more quickly than any
other firm given our familiarity with the situation and the company

Superior ability to communicate situation accurately to current holders of
the Series A Preferred Stock

Ability to manage an effective and efficient due diligence process resulting
in appropriate disclosures and ultimately a very ‘tight’ process

Established relationship with many members of senior management,
internal and external legal counsel and the Board of Directors

FBR

Why FBR | KNOWLEDGE OF INVESTORS

FBR placed the stock and has traded the majority of it since the offering

We have long-standing relationships with the current holders that will
facilitate productive conversations that would be difficult for another firm to
achieve even with knowledge of the current holders

Publicly available information with regard to the holders of the Series A
Preferred is extremely limited

FBR has proprietary data with respect to the current owners of the preferred which
makes us the best investment bank to manage Quanta’s tender offer

Source: FactSet

FBR

Common Stock Holders

Source: FactSet

FBR

Proposed Terms

$1.0 million

Success fee:

$350k – to be credited against success fee

Non-refundable retainer:

$500k – additional to success fee if 75% or more of
preferred is tendered

Incentive based fee:

Reasonable out-of-pockets including legal to be
reimbursed by the company

Expenses:

FBR

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