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Stone Point Capital Acquires GWC Warranty Corporation From CIVC Partners

GREENWICH, CT -- (Marketwire) -- 02/20/13 -- Stone Point Capital LLC announced today the acquisition of GWC Warranty Corporation and certain affiliated entities (GWC) from CIVC Partners. Trident IV L.P., a private equity fund managed by Stone Point Capital, together with GWC's management team, acquired the company. Headquartered in Wilkes-Barre, Pennsylvania, GWC is a best-in-class marketer, administrator and underwriter of vehicle service contracts sold primarily through independent automotive dealers throughout the U.S.

GWC will be held under the same holding company as Automobile Protection Corporation (APCO), another Trident IV portfolio company. APCO is a marketer and administrator of vehicle service contracts and related benefits sold through franchised automotive dealers. GWC and APCO are highly complementary businesses with limited overlap between the two companies' end markets, distribution strategies and product sets. This acquisition provides Stone Point with the ability to offer vehicle service contracts and other ancillary products to every independent and franchised dealer in the U.S.

"We are excited to be partnering with Stone Point for the next stage of GWC's growth," said GWC CEO Rob Glander. "Stone Point has a strong track record investing in the insurance and warranty sectors and will be a valuable strategic partner for our company as we continue delivering outstanding service to our customers."

Charles A. Davis, CEO of Stone Point Capital, said, "We are delighted about the opportunity to partner with Rob Glander and the rest of the GWC management team. We have been studying the warranty and extended service contract administration industry since 2000, and this is our third investment in the sector. GWC has a strong reputation as a leading warranty administrator and insurer, and we look forward to working with the management team to continue their success and take the business to the next level."

About GWC Warranty Corporation

GWC is a leading provider of vehicle service contracts and related finance and insurance products sold through automotive dealerships. Over the past 16 years, GWC has built one of the few integrated platforms in the industry, providing sales and marketing, state-of-the-art claims administration and products backed by companies that are rated "A or A- Excellent" by A.M. Best. GWC has been a trusted partner of over 20,000 automobile dealerships nationwide. For further information about GWC, see www.gwcwarranty.com.

About Stone Point Capital LLC

Stone Point Capital LLC is a global private equity firm based in Greenwich, Connecticut, that has a 25-year record of making successful investments in the financial services industry. Stone Point Capital serves as the manager of the Trident Funds, which have raised more than $9 billion in committed capital to make investments in lending, banking, insurance, asset management and other financial services companies. For further information about Stone Point Capital, see www.stonepoint.com.

About Automobile Protection Corporation

APCO, established in 1984, is a leading marketer and administrator of extended vehicle service contracts and warranties sold by automotive OEMs as well as automobile and recreational vehicle dealers located throughout the United States and Canada. The company markets its products using the EasyCare brand, as well as other private label automobile manufacturer brands, through a network of independent agents that specialize in consulting with and servicing the automotive and RV dealership markets. For further information about APCO, see www.easycare.com.

For further information, please contact:
GWC Warranty Corporation
Mike Melby
Vice President of Strategy & Business Development
Telephone: (570) 208-3603

For further information, please contact:
Stone Point Capital LLC
Charles A. Davis
CEO
Telephone: (203) 862-2900

For further information, please contact:
Automobile Protection Corporation
John Lee
President
Telephone: (678) 225-1000

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