Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda

Tel: 441 292 4402
Fax: 441 292 1563
Email: davis.maranga@marsh.com
ISIN: US037401AD85
CUSIP: 037401AD8

The Issuer is a Bermuda exempted company registered as a Special Purpose Insurer in Bermuda.  The purpose of the issuance of the Series 2017-1 Notes under the Program is to collaterize and fund its obligations under the related reinsurance agreement pursuant to which it may be obligated to make certain payments to the ceding insurer upon the occurrence of one or more loss events during the applicable risk periods.  The Series 2017-1 Notes are issued with limited recourse to certain assets of the Issuer and without recourse to the ceding insurer.

Aozora Re Ltd - US$480,000,000 2017-1 Class A Principal At-Risk Variable Rate Notes due April 7, 2021

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