The Issuer was established as an Exempted Company under the Laws of Bermuda on 31 October, 2012 under company number 47041 with registered office address at Clarendon House, 2 Church Street, Hamilton, Bermuda and registered as a Special Purpose Insurer on 3 December, 2012 in accordance with the Bermuda Insurance Act 1978 as amended.

The Notes  are exposed to the perils of earthquake on a per occurrence basis during the Risk Period. The Notes will be issued in United States currency, in minimum denominations of $250,000 and integral multiples of $1,000 in excess thereof.

Issuance - $270,000,000 Principal At-Risk Variable Rate Notes due January 08, 2016