Gefion Insurance A/S €10 million Subordinated Notes Issuance

Gefion Insurance A/S (“Gefion”) completed a €10,000,000 subordinated notes offering

• Transaction led by Fermat Capital Management (“Fermat”), a leading ILS manager
• Proceeds will be utilized to:
  • Build Gefion’s Solvency capital to support growth opportunities
  • Replace existing subordinated debt
  • General corporate purposes

Gefion is a Danish non-life insurance company headquartered in Copenhagen

• Writes throughout the EU / EEA with a focus on specialty programs in attractive niches
• Wrote ~€110mm of gross premiums during 2016, its first full year of operation
• Operates with a differentiated and technology-enabled business model
  • Sophisticated IT enables significant ease of doing business for both agents and reinsurers
• Supported by partnerships with many of the world’s leading reinsurers
• Led by a talented and experienced executive management team
  • With significant experience in the (re)insurance and financial services industries

TigerRisk Capital Markets & Advisory acted as transaction advisor to Gefion Insurance

• Evaluated various capital alternatives for Gefion
• Assisted in the preparation of financial packages and presentations for potential investors
• Introduced Gefion to a range of potential counterparties including Fermat
• Assisted Gefion in the negotiation of transaction terms