Carvill Changes Direction on the West Coast

December 28, 2004

Carvill, a leading reinsurance intermediary in Specialty business, announced the signing of an agreement in principle to sell its West Coast operations to an investment group headed by their current President, Brendan Roche, and to establish an ongoing relationship with the newly independent company.

The new firm, REcentis Intermediaries, LLC., will continue to utilize the services of R. K. Carvill & Co. Ltd in London. REcentis will have a particular specialty focus in reinsurance solutions for “finance related”
and credit insurance, in addition to more traditional reinsurance lines.

The new arrangement has benefits for both parties as REcentis can utilize independent capital interested in its specialty to facilitate growth while also retaining business relationships with Carvill.

In a joint statement, Ron Carlier, Chief Executive Officer of Carvill, and Brendan Roche, one of the Managing Principals of REcentis, explained the new
relationship:

“Carvill will continue to provide REcentis access to its wide range of products and services to jointly develop business opportunities. REcentis can focus on its specialist reinsurance solutions specifically tailored towards the mortgage, banking and investment communities and the myriad reinsurance opportunities emanating from these financial arenas. The combination of capital investment opportunity and an independent specialist operation is a powerful approach in that marketplace.”

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