Security First Insurance Holdings $75 million Senior Notes Issuance

Transaction Overview

Security First Insurance Holdings, LLC (“SFIH”) completed a $75mm Senior Notes issuance

  • Funded by a single Insurance Linked Securities fund
  • Uses of proceeds include:
    • Refinancing of existing debt
    • General corporate purposes

Security First Insurance Holdings, LLC is a Florida focused insurance holding company

  • Specializes in writing three main products: HO-3, HO-4 and HO-6
  • Security First Managers LLC acts as the managing general agent to Security First Insurance Co.
    • Predictable revenue stream that produces attractive margins in a fee-for-service capacity
  • SFIC acts as an insurance carrier with $73mm of existing policyholder surplus as of 9/30/2018
    • $383mm of 2017 direct written premiums with geographic focus in North Florida
  • SFIH has strong technology, customer and distribution relationships and strong underwriting

TigerRisk Capital Markets & Advisory Role

TCMA acted as transaction Advisor, Structuring Agent and Exclusive Placement Agent

  • Provided insights around transaction terms & conditions
  • Assisted in the negotiation of driving optimal transaction terms