Liberty Latin America Settles Insurance Claims for Hurricanes Maria and Irma | Financial Buzz

Liberty Latin America Settles Insurance Claims for Hurricanes Maria and Irma

Latin America Ltd. (“Liberty Latin America” or “the Company”)
(NASDAQ: LILA and LILAK, OTC Link: LILAB) today announced that it agreed
with its third-party insurance provider in late December 2018 to settle
claims for a gross total of $138.5 million under its integrated group
property and business interruption insurance program for the damages
caused by Hurricanes Maria and Irma. After the deduction of $30 million
of self-insurance, the net third-party insurance proceeds for Liberty
Latin America are $108.5 million.

We have received net advance payments from our third-party insurance
provider totaling $50 million, of which $45 million was provided to
Liberty Puerto Rico and $5 million was provided to Cable & Wireless
(“C&W”). Liberty Latin America expects to receive the remaining $58.5
million in Q1 2019, which will mainly be split between C&W and Liberty
Puerto Rico.

With respect to Liberty Latin America’s financial results, the proceeds
from the settlement will be allocated between recoveries for business
interruption and operating expenses, which will benefit OCF1,
and recoveries associated with property damages, which will be reflected
as a gain within impairment, restructuring and other operating items,
net. There will be no impact on revenue reported in 2018 or 2019. Of the
net third-party insurance proceeds, over half is expected to benefit our
2018 OCF.

Forward Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the net insurance proceeds, including the
timing and amount of future payments; the potential impact on our 2018
OCF; and other information and statements that are not historical fact.
These forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by these statements. These risks and uncertainties
include factors that are outside of our control, including factors
detailed from time to time in Liberty Latin America’s filings with the
Securities and Exchange Commission, including its most recently filed
Form 10-K and Form 10-Q. These forward-looking statements speak only as
of the date of this release. Liberty Latin America expressly disclaims
any obligation or undertaking to disseminate any updates or revisions to
any forward-looking statement contained herein to reflect any change in
Liberty Latin America’s expectations with regard thereto or any change
in events, conditions or circumstances on which any such statement is

About Liberty Latin America

Liberty Latin America is a leading telecommunications company operating
in over 20 countries across Latin America and the Caribbean under the
consumer brands VTR, Flow, Liberty, Más Móvil, BTC and Cabletica. The
communications and entertainment services that we offer to our
residential and business customers in the region include digital video,
broadband internet, telephony and mobile services. Our business products
and services include enterprise-grade connectivity, data center, hosting
and managed solutions, as well as information technology solutions with
customers ranging from small and medium enterprises to international
companies and governmental agencies. In addition, Liberty Latin America
operates a sub-sea and terrestrial fiber optic cable network that
connects over 40 markets in the region.

Liberty Latin America has three separate classes of common shares, which
are traded on the NASDAQ Global Select Market under the symbols “LILA”
(Class A) and “LILAK” (Class C), and on the OTC link under the symbol
“LILAB” (Class B).

For more information, please visit

____________________1 As used herein, OCF has the same
meaning as the term “Adjusted OIBDA” that is referenced in our annual
and quarterly reports. We define OCF as operating income (loss) before
depreciation and amortization, share based compensation, provisions and
provision releases related to significant litigation and impairment,
restructuring and other operating items. Other operating items include
(i) gains and losses on the disposition of long-lived assets, (ii)
third-party costs directly associated with successful and unsuccessful
acquisitions and dispositions, including legal, advisory and due
diligence fees, as applicable, and (iii) other acquisition-related
items, such as gains and losses on the settlement of contingent

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