Liberty Mutual Creation of Limestone Capital Markets Platform

Liberty Mutual Group announced the creation of its Limestone Capital Markets Platform

• Entered into inaugural multi-year collateralized reinsurance transaction with ~$160mm of capital
• Led by Limestone Re Ltd., a newly-formed Bermuda-domiciled segregated account company
• Provides a highly innovative initial product for investors that includes risk covering
  • U.S. Property Catastrophe
  • U.S. Homeowners
  • London Market Specialty Insurance
• Transaction closed on December 20th, 2016; terms of the transaction were undisclosed

The platform represents a key strategic initiative for Liberty Mutual

• Leveraging Liberty’s unique global underwriting and distribution platform
• Bringing capital markets investors as close as possible to underlying risk

Liberty Mutual Group is a leading diversified global insurer

• #73 on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue
• 6th-largest U.S. P&C insurer by consolidated 9/30/16 statutory surplus
• Employs more than 50,000 people in 800 offices throughout the world

TCMA acted as structuring and placement agent to Liberty Mutual Group

• Provided advice through all stages of the process, driving an optimal outcome for Liberty
• Leveraging the range of TigerRisk’s capital markets, reinsurance, and analytics capabilities
• Key transaction steps led by TCMA included:
  • Provided critical pricing and portfolio modeling advice and insight
  • Selected, introduced and arranged meetings with key participating investors
  • Instrumental in transaction structuring to achieve a positive outcome for all parties
  • Offered key insight around key transaction terms & conditions