AMERICAN INDEPENDENT COMPANIES INC

Investment Date: November 2004

American Independent Companies Inc., is the holding company for a family of non-standard auto insurance businesses.

Wand sponsored the acquisition of American Independent in late 2004 from the Arch Group. Inverness is the controlling shareholder and Arch Re continues as a strategic reinsurance partner.

In late 2006, American Independent acquired OMNI from the Hartford. BlackRock/Merrill Lynch provided most of the equity for this add-on acquisition.