K2 Insurance Services Sponsored AMIE Reciprocal Exchange

K2 Insurance Services (“K2”) sponsored formation of American Mobile Insurance Exchange (“AMIE”)

• AMIE is a Florida mobile home focused insurer in the form of a reciprocal exchange
• At the time of the transaction, AMIE planned to focus on writing mobile homeowners and mobile homeowner dwelling fire insurance coverages for manufactured homeowners, largely in Adult Parks, across the state of Florida

AMIE was initially capitalized with ~$30mm of surplus note commitments

• Proceeds were used to capitalize AMIE’s balance sheet and support AMIE’s growth prospects
• AMIE earned a Financial Stability Rating of “A” (Exceptional) from Demotech

AMIE entered into an attorney-in-fact agreement with American Mobile Risk Mgmt., LLC (“AMRM”)

• AMRM will provide all operational functions including pricing, U/W, claims, distribution and marketing
• AMRM will have a close association with K2 and will also partner with West Point Insurance Services (“WPIS”), which will allow AMIE to leverage resources from K2 and WPIS

AMRM’s management team and business partners have a proven track record in the Florida market

• Led by President Jeff LeGare who has over 28 years of experience in the Florida (re)insurance market

K2 is a leading specialty underwriting and distribution franchise managing ~$900mm of premium(a)

TCMA acted as exclusive Transaction Advisor and Placement Agent for K2

• • Provided objective advice and acted as a confidant to K2 and AMIE throughout the process
  • Placement Agent in connection with AMIE surplus note security issuance
  • Key roles and responsibilities included:
    • Assistance in preparing AMIE business plan and financial projections
    • Assistance in preparing regulatory and rating agency presentations
    • Preparing financial packages and materials for potential investors
    • Marketing the transaction to potential investors and facilitating investor discussions
    • Negotiation of transaction terms & conditions

This transaction further solidifies TCMA as a market leader in reciprocal exchange formations

• Including the recent formations of Vault, Noblr, Kin and TRUE reciprocal exchanges

(a) As of the time of the transaction.