Sanders Re Ltd.(the "Issuer"), was incorporated on 02 April, 2013, in Bermuda as an exempted company - registered number 47565 - with registered office address at Clarendon House, 2 Church Street, Hamilton, Bermuda, and its principal office is c/o Aon Insurance Managers (Bermuda) Ltd., Aon House, 30 Woodbourne Avenue, Pembroke HM 08, Bermuda.

Purpose of the Offering

The Issuer is issuing the 2013-1 Notes to obtain capital to deposit into reinsurance trust accounts to support its obligations to the ceding insurer under the Class A Reinsurance Agreement.

Ceding Insurer - Allstate Insurance Company

Issuance - USD$200,000,000 Series 2013-1 Class A Principal-At-Risk Variable Rate Notes due 05 May, 2017