Apollo Announced Partnership with Pelican Ventures and J.C. Flowers

Apollo Syndicate Management (“Apollo”) announced operational partnership with Pelican Ventures (“Pelican”) and J.C. Flowers & Co. (“JCF”) to grow Apollo-managed SPA(a) 6133

Pelican and JCF provided additional capital, operational support and distribution for SPA 6133

• Apollo will continue to act as the managing agency to the SPA

Apollo, founded in 2009, is an independent specialist insurer and reinsurer with a team of talented and experienced professionals across a number of specialty lines

• Offers adaptable underwriting services at Lloyd’s and leads a number of London market consortia
• Total managed stamp capacity across three syndicates of ~£475mm for the 2021 Year of Account
  • Syndicate 1969, Sharing Economy SPA 1971 and SPA 6133
• SPA 6133 launched in 2018, taking a 90% quota share of Syndicate 1969’s property treaty portfolio
  • ~£65mm stamp capacity for the 2021 Year of Account

Pelican is a private investment fund with a sole focus on the insurance industry

• Formed by industry veteran Jim Stanard, founder and former Chairman and CEO of RenaissanceRe

JCF is a private investment firm dedicated to investing globally in the financial services industry

• Founded in 1998, the firm has invested more than $16bn of capital across 56 portfolio companies(b)

TCMA acted as exclusive financial advisor to Apollo by:

• Assessing strategic options for Apollo
• Introducing Apollo to Pelican and JCF
• Assisting with financial modeling, valuation and returns analysis
• Assisting in the development of key marketing materials and presentations
• Managing an organized and efficient due diligence process
• Assisting in the negotiation of final transaction terms and conditions
• Providing objective advice and acting as a confidant to Apollo throughout the process

(a) Lloyd’s Special Purpose Arrangement (“SPA”) which reinsures property treaty business written by Syndicate 1969.
(b) As of the time of the transaction.