Business Update:

Humboldt Re Limited ("Humboldt Re") was acquired by Marco Capital Holdings Limited ("Marco Capital") on 15th October 2021 as a core element of Marco's P&C legacy strategy.

Humboldt Re is underpinned by strong risk-adjusted capital and meets all its obligations in full compliance with the applicable laws and regulations. Humboldt Re is authorised and regulated by the Guernsey Financial Services Commission.

Humboldt Re acquired Kelvin Re Limited on 7th July 2023. Both Humboldt Re and Kelvin Re are Guernsey based reinsurance companies established under the stewardship of Credit Suisse's ILS team on behalf of third-party investors and both reinsurers have ceased to write new business.

Following the acquisition of Kelvin Re Limited, the companies were merged on the 8th of December 2023, subsequently the new combined entity was renamed Marco Re Limited.

Marco Capital is a Europe based P&C Legacy (run-off) consolidator and is backed by €500m equity committed by funds advised/managed by Oaktree Capital.

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