Security First Insurance Holdings $60 million Senior Notes Issuance

Security First Insurance Holdings, LLC (“SFIH”) completed a $60mm senior note issuance

• Funded by a three different Insurance-Linked Securities funds
• Proceeds will be utilized to:
  • Refinance existing debt
  • Capital infusion into Security First Insurance Company to support growth
  • General corporate purposes

Security First Insurance Holdings, LLC is a Florida focused insurance holding company

• 3rd largest homeowners insurer by policies in Florida
• Specializes in writing three main products: HO-3, HO-4 and HO-6
• Security First Managers LLC acts as the managing general agent to Security First Insurance Co.
  • Predictable revenue stream that produces attractive margins in a fee-for-service capacity
• SFIC acts as an insurance carrier with $57mm of existing policyholder surplus as of 9/30/2016
  • $349mm of LTM direct written premiums with geographic focus in North Florida
• SFIH has strong technology, customer and distribution relationships and strong underwriting

TCMA acted as transaction advisor, structuring agent and exclusive placement agent

• Evaluated various capital alternatives for Security First
• Prepared financial packages and presentations for potential investors
• Marketed the transaction to financial investors and introduced the counterparties
• Assisted Security First in negotiation of transaction terms

(a) As of the time of the transaction.