Kane SAC Limited is a Bermuda exempted company incorporated in Bermuda on 2 July 1981 and registered as a Class 3 insurer and as a Class C insurer under the Insurance Act 1978, as amended, and registered as a segregated accounts company under the Segregated Accounts Companies Act 2000 on 5 April 2005.  Notes were  issued on 19 February, 2015 and are  in the form described in the Prospectus Supplement dated #10 and linked to the segregated account establish by the Issuer and designated as “Kane SAC Limited Series 1-2015 Segregated Account”.  The business of the Issuer acting in respect of the Segregated Account consists solely of activities related to the issuance of the Kane SAC Limited Series 1-2015 Segregated Account At-Risk Notes and the performance of its obligations under its reinsurance agreement with the Ceding Insurer.