Lighthouse Management Secures $65 Million Senior Notes

Transaction Overview

Lighthouse Management, LLC (“LHMGT”) is a Southeast Homeowners focused MGA

  • Expected to write ~$220mm of premium in 2021
  • Specialize in coastal business in Louisiana, Texas, Florida, Mississippi, S. Carolina & N. Carolina

LHMGT recently completed a $65mm senior notes offering

  • Investor is a New York based private capital fund

Proceeds from the senior notesissuance will be utilized to:

  • Provide additional capital to Lighthouse’s affiliated carrier, Lighthouse Property Insurance Corporation (“LHPIC”)
  • Redeem current outstanding debt
  • Support organic growth efforts and for general corporate purposes

LHIC is a Southeast focused Homeowners Carrier

  • “A (Exceptional)” Financial Strength Rating from Demotech
  • 9th largest writer of homeowners’ premium in Louisiana in 2020
  • Products are distributed through an exclusive network of ~3,000 licensed agency relationships

Lighthouse is run by CEO and industry veteran Patrick White

TigerRisk Capital Markets & Advisory Role

TCMA acted as exclusive placement agent to Lighthouse

  • 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
    • Identifying the eventual investor during the marketing period
    • Managing the investor due diligence process
    • Providing insights around senior notes offering transaction terms & conditions
    • Assisting in the negotiation of transaction terms