Press Release - JULY 16, 2008
KnightBrook LLC Announces the Merger and Acquisition of Excess Reinsurance

LOS ANGELES, Calif. — July 16, 2008 — KnightBrook, LLC, a recently established holding company of Knight Insurance Company and Venbrook Group, today announced the merger of Northwestern Insurance Company and Excess Reinsurance Company (Excess Re). As of July 1, 2008, Excess Re is the post-merger surviving entity, owned by KnightBrook, LLC. Excess Re’s subsidiary, Guilderland Insurance Company, was also acquired as part of the transaction.

A.M. Best rated the financial strength of Excess Re and Guilderland at an A- (Excellent), based upon Excess Re’s balance sheet strength and the new business plan presented by management, which includes moving the company forward under the name KnightBrook Insurance Company.

KnightBrook Insurance Company is licensed as a direct insurer in 19 states. KnightBrook plans to expand its licensing to all 50 states within four years. The company will be a direct insurer of new and existing program business.

“KnightBrook Insurance Company, as an A- A.M. Best-rated company supported by strong affiliates, is well positioned to take on superior niche product business throughout the United States. Our team has done an outstanding job in working with the sellers and the various regulatory agencies involved, and we couldn’t be more pleased,” said Eric Jarvis, president of KnightBrook.

About KnightBrook, LLC

KnightBrook LLC is a joint venture between Knight Insurance Company, Ltd., and Venbrook Group. Knight Insurance Company, Ltd., is part of the Hankey Group of Companies, headquartered in Los Angeles, Calif., with roots in the automotive industry, and interests in real estate, technology, and finance.

Venbrook Group provides business and risk management solutions for agents, brokers, professional and trade associations, pools, trusts, and medium to large insureds in the US. The company operations focus on specialty insurance business, risk management consulting, claims administration and handling, loss control and safety, captive management and reinsurance placement. It is headquartered in Woodland Hills, California.

KnightBrook Insurance Company is domiciled in Delaware, with headquarters in Pennsylvania.

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