EFTA00333888.pdf

From: To: "Joshua M. Black" Cc: Chelsie Biegel Subject: Re: Crown Global CIM Date: Fri, 04 Dec 2015 20:39:39 +0000 Attachments: image00 1 jpg Great. I will get back to you. Sent from my iPhone On Dec 4, 2015, at 3:08 PM, Joshua M. Black Great - let me know when good next week. Thx From: Jeffrey E. [malltoleevacatIonegmall.com] Sent: Friday, December 04 2015 03:01 PM To: Joshua M. Black; Subject: Re: FW: FW: Crown Global CIM > wrote: would you like to talk to these guys, they are usally quite creative in the insurance space if so can organze On Fri, Dec 4, 2015 at 2:25 PM, Joshua M. Black < > wrote: Hey there. Thanks for sending this. Went through this — • On surface of it, is very interesting model; would be great to have a meeting.... • That said, lot of questions / diligence to do, including on: o Business model o Financials / historical performance o Regulatory / tax / other structuring o Management o Risk management and reinsurance program o Scalability of assets / the PPLI market EFTA00333888 o Control and governance o HoldCo fee allocations o AM Best rating o Historical liquidity / cash burn o AUM withdrawals / policy cancellations • When do they want initial proposal by? • What are their valuation expectations? o My quick read says it deserves: • Legacy business: $10-15m, with a large earn-out component • Capital for new business: $5-10m (but need to understand capital intensity of business better) Thanks. From: Melanie Spinella Sent: Tuesday, December 01, 2015 9:53 AM To: Joshua M. Black Subject: FW: FW: Crown Global CIM From: jeffrey E. [mailto: Sent: Tuesday, December 01, 2015 9:50 AM To: Melanie Spinella Subject: Fwd: FW: Crown Global CIM pass on to josh black thanks Forwarded message From: Chris Calise Date: Tue, Dec 1, 2015 at 10:46 AM Subject: FW: Crown Global CIM EFTA00333889 C Toc: ip' ain erry Lerner Jeffrey- Attached is a description of our company prepared earlier this year, the financials need to be updated to reflect growth since then. The important point is that a foreign corporation (which is not a controlled foreign corporation) which owns 25% or more of our shares will be treated as an insurance company for PFIC purposes and its income is not subject to current US income taxation. Please let us know when you would like to set up a meeting to discuss. Thanks Chris Calise President Crown Global Email: This message (and any associated files) is intended only for the use of the individual or entity to which it is addressed and may contain information that is confidential, subject to copyright or constitutes a trade secret. If you are not the intended recipient, you are hereby notified that any dissemination, copying or distribution of this message, or files associated with this message, is strictly prohibited. Any U.S Federal Tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code of 1986, as amended, or (2) promoting, marketing or recommending to another party any tax-related matter(s) addressed herein. Prospective investors should consult their own tax advisors regarding such issues. If you have received this message in error, please notify us immediately by replying to the message and deleting it from your computer. Messages sent to and from us may be monitored. Internet communications cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late, or incomplete, or contain viruses. Therefore, we do not accept responsibility for any errors or omissions that are present in this message, or any attachment, that have arisen as a result of e-mail transmission. If verification is required, please request a hard-copy version. Any views or opinions presented are solely those of the author and do not necessarily represent those of the company. From: Monica Greene Date: Monday, November 30, 2015 at 5:02 PM To: Chris Calise Subject: Crown Global CIM EFTA00333890 CIM attached, password is Royal. Monica Rodriguez Greene Consultant Vanbridgc LLC <image001.jpg? 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Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC EFTA00333892