BSX Update on Listing of Embarcadero Reinsurance Ltd Series 2012-II Class A Principal-at-Risk Variable Rate Notes.

Hamilton, Bermuda: 17 August, 2012 – The Listing Committee of the Bermuda Stock Exchange (“BSX”) today confirmed the approval of the listing of the Embarcadero Reinsurance Ltd. (“Embarcadero Re”) $300,000,000 Series 2012-II Class A Principal-at-Risk Variable Rate Notes, Due 7 August, 2015 (“the Notes”) under Embarcadero Re’s Variable Rate Note Program effective 31 July, 2012. The approval for listing comes under the Exchange’s Restricted Marketing Provisions for Qualified Investors and Section V of the BSX Listing Regulations pertaining to International Issuers of Insurance Related Securities.

Embarcadero Re Ltd. is a Bermuda Exempted Company licensed as a Special Purpose Insurer under the Bermuda Insurance Act 1978.

The purpose of the Principal-at-Risk Variable Rate Notes Program is to provide the issuer with funds in order to support its obligations under the respective reinsurance contracts it enters into with the Ceding Insurer, the California Earthquake Authority, as specified in the Offering Circular Supplement.

James McKirdy, Chief Compliance Officer of the BSX stated, “We are delighted to once again welcome Embarcadero Re and the Series 2012-II Class A Principal-at-Risk Variable Rate Notes to the Official List of the BSX. The BSX Listing Regulations for International Issuers of Insurance Related Securities are specifically designed to facilitate the listing of these types of Notes that are offered to institutional and sophisticated Qualified Investors”. 

For further information on the Embarcadero Reinsurance Ltd’s Principal-at-Risk Variable Note program please email embarcadero@horseshoe.bm.