News 2004

Wilton Re Raises Over $600 Million in Capital

Greenwich, Connecticut, December 20, 2004 - Wilton Re U.S. Holdings, Inc. announced today that its parent company, Wilton Re Holdings Limited, has raised more than $600 million through a private placement of its equity securities. Wilton Re, a life reinsurance company, was formed in order to provide life insurers a new source of reinsurance capacity in response to the continuing consolidation in the U.S. life reinsurance industry. The founding investors in Wilton Re are Trident III, L.P., a private equity fund managed by MMC Capital, and Chris C. Stroup.

The Wilton Re management team is led by Chris C. Stroup as Chairman and John E. Tiller as CEO. Previously, Mr. Stroup served as CEO of Swiss Re Life & Health North America. Mr. Tiller, who has over 30 years of experience in the life insurance industry, was previously the head of ERC Life Re. In addition, Mr. Tiller co-authored Life, Health & Annuity Reinsurance, the leading reference book in the industry.

The Company's reinsurance business will focus on U.S. traditional mortality business and life insurance runoff solutions and the company will commence attaching risks shortly.

Mr. Stroup said, "Wilton Re offers the marketplace a compelling combination of a substantial, unencumbered capital base aligned with a capable management team. We look forward to becoming a major presence in the U.S. life reinsurance marketplace."

MMC Capital, Inc. is a global private equity firm with 20 years of private equity experience. MMC Capital serves as the manager of the Trident Funds, which have raised more than $3 billion in committed capital to make investments in the insurance, employee benefits and financial services industries. MMC Capital has been the sponsor of more than fifteen insurance companies, including ACE Limited, XL Capital Ltd. and AXIS Capital Holdings Limited.

Wilton Re U.S. Holdings, Inc.
20 Horseneck Lane
Greenwich, CT 06830

Contact:
Chris Stroup
Wilton Re U.S. Holdings Inc.
cstroup@wiltonre.com
(203) 862-3136