Norton Rose Fulbright advises Kilter Finance in two consecutive surplus note offerings

A pair of lawyers from Norton Rose Fulbright recently advised insurance-focused finance company Kilter Finance in two surplus note financing transactions for an aggregate amount of US$95 million.

Clear Blue Insurance Company received US$45 million in a surplus note financing from Kilter Finance. This transaction was structured to strengthen Clear Blue’s statutory surplus and support its long-term underwriting capacity.

Kilter Finance also closed a US$50 million surplus note financing deal with Spinnaker Insurance Company. The transaction supports Kilter Finance’s strategic capital initiatives and enhances Spinnaker’s surplus position, enabling continued growth and underwriting capacity.

Kilter Finance is a KKR portfolio company that partners with small and mid-sized insurers focusing on the life, health, annuity and casualty sectors.

Norton Rose Fulbright’s deal team was led by US Head of Insurance Transactions Kevin Fischer (St. Louis) and Michael Kaplan (Denver).