Tower Hill Prime $25 Million Surplus Note Issuance

TigerRisk Capital Markets & Advisory acted as Exclusive Placement Agent to Tower Hill Prime

Transaction Overview

Tower Hill Prime recently completed a $25mm surplus note offering

  • Transaction generated strong investor interest
    • Supported by a small group of high quality institutional investors
  • Proceeds will be utilized to:
    • Support ongoing growth initiatives
    • Build capital and surplus
    • General corporate purposes

Tower Hill Prime is rated “A-” by A.M. Best and is the largest carrier in the Tower Hill Group

  • Leading Florida insurer focused on residential and commercial property and liability insurance
    • Writes a diversified mix of standard personal lines, commercial lines, and high value H / O
  • Top 20 Florida homeowners writer with over $200mm of DPW(a) and a ~2% market share(a)
  • Products are distributed through an independent agency network of over 1,250 agency relationships

Tower Hill Group is a best-in-class, diversified insurance group based in Gainesville, Florida

  • Specializes in the underwriting and placement of residential / commercial property risks in Florida
  • Group is comprised of statutory insurance entities, distribution and claims management companies
  • Second largest residential property insurer in Florida with a ~7%(a) homeowners market share

TigerRisk Capital Markets & Advisory Role

TCMA acted as exclusive placement agent to Tower Hill Prime

  • Offered crucial transactional advice and guidance throughout the transaction process
  • Key transaction steps led by TCMA included:
    • Managing the preparation of financial packages and presentations for potential investors
    • Marketing the transaction to potential investors and managing a highly competitive process
    • Providing insights around surplus note offering transaction terms & conditions
    • Assisting in the negotiation of transaction terms