Market Overview

Haven Holdings Appoints Gordon Rowell as Chief Operating Officer of its Insurance Operations


Haven Holdings Inc. ("Haven Holdings") announced today that it has
appointed Gordon Rowell as the Chief Operating Officer of Time Insurance
Company II.

Haven Holdings previously announced today that it has closed the
acquisition of Time Insurance Company from Interfinancial Inc., a wholly
owned subsidiary of Assurant, Inc. (NYSE:AIZ).

Mr. Rowell will relocate to San Juan, Puerto Rico, to lead Haven
Holdings' insurance operations in Puerto Rico.

Mr. Rowell will also serve as a Senior Vice President of Haven Holdings
Inc. (a Puerto Rico insurance holding company) and the Chief Operating
Officer of Haven Services Inc. (a Puerto Rico corporation which has
applied for Act 20 status under one of Puerto Rico's tax incentive

Gordon Rowell was twice the Head of Insurance (Insurance Commissioner)
for the Cayman Islands Monetary Authority (CIMA), first from 1997 to
2003, and a second time during the financial crisis from 2009 to 2014.

Mr. Rowell was also twice the Chief Executive Officer of the Cayman
Islands National Insurance Company Ltd. (CINICO), the largest insurance
company on the island, which operates the state-run health insurance
system covering its 60,000 residents, first when it started-up from 2003
to 2004, and a second time from 2006 to 2008.

From 2014 to 2016, Mr. Rowell was a Vice President of Marsh Management
Services (Cayman) Ltd., a subsidiary of Marsh & McLennan Companies
(NYSE:MMC), and since 2017 he has been the Chief Reinsurance Officer of
TWG Re, Ltd., a reinsurance subsidiary of The Warranty Group, which was
acquired in May 2018 by Assurant, Inc.

Mr. Rowell is also a Fellow of the Life Management Institute (FLMI) of
the Life Office Management Association (LOMA) and an Associate in
Reinsurance (ARe) of the American Institute for Chartered Property
Casualty Underwriters (AICPCU).

Jonathan Feldman, President of Haven Holdings, said: "We are delighted
to have Gordon Rowell join Haven to lead the day-to-day insurance
activities of Time Insurance Company II, as well as assist us with the
integration of future acquisitions. Gordon has a unique perspective as
both a senior regulator and insurance executive, and brings with him
decades of experience which we expect will be most helpful as we pursue
our business plan of acquiring runoff insurance blocks."

About Haven Holdings Inc.

Haven Holdings Inc. is an insurance holding company headquartered in San
Juan, Puerto Rico, formed to acquire closed blocks of insurance policies
in runoff, with the goal of creating long-term value for its
stakeholders through carefully structured acquisitions and focused asset
and liability management. Haven Holdings Inc. is actively seeking closed
blocks of annuities, life insurance, health insurance, long-term care
insurance, disability insurance, workers compensation insurance,
pre-need insurance, long-tail property and casualty insurance and
structured settlements.

About Time Insurance Company II

Time Insurance Company II is an insurance company headquartered in San
Juan, Puerto Rico. Time Insurance Company II holds an insurance and
reinsurance license, as a Chapter 61 international insurer, from the
Commonwealth of Puerto Rico Office of the Commissioner of Insurance,
which is an accredited member of the National Association of Insurance
Commissioners (NAIC). Time Insurance Company II is also a licensed
insurer in 49 states. Time Insurance Company II is a wholly-owned
indirect subsidiary of Haven Holdings Inc.

Time Insurance Company II was formed in Wisconsin in 1892 as the
LaCrosse Mutual Aid Association. In 1990, the company became Fortis
Insurance Company and was for many years an active national provider of
annuities and life insurance, disability insurance, long-term care
insurance and health insurance. In 2004, the company became a subsidiary
of Assurant, Inc., and in 2005 changed its name back to Time Insurance
Company. Assurant placed the company in runoff at the end of 2015 and
sold the company to Haven Holdings Inc. on December 3, 2018.

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