STARSTONE A DIVERSIFIED GLOBAL SPECIALTY INSURER. Company Overview 2016/17

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1 STARSTONE A DIVERSIFIED GLOBAL SPECIALTY INSURER Company Overview 2016/17

2 StarStone has the expertise, focus and agility to respond rapidly to the evolving needs of our clients. FOCUS AND AGILITY StarStone delivers a diversified mix of property, casualty and specialty insurance to both multinational and small and middle-market clients worldwide. All underpinned by global reach, financial security, and exceptional claims and service delivery. Launched in 2008, our goal remains the same to be a leading global specialty insurer. Today with access to a multi-platform network, 18 global offices and more than 135,000 customers worldwide, we are well on our way to achieving our vision. 2 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 3

3 KEY FACTS WORLD CLASS BACKING SPECIALTY FOCUS 5 Segment groups StarStone has a diverse portfolio of insurance products across five core segments: Marine and Specialty lines, Casualty, Property, Aerospace and Workers Compensation. FINANCIAL STRENGTH A- A.M. Best Rating Our financial strength is rated A- (Excellent) by A.M. Best, most recently affirmed in June For business written through Syndicate 1301, Lloyd s is rated A+ by Standard & Poor s, AA- by Fitch Ratings and A (Excellent) by A.M. Best. As part of Enstar Group, in partnership with Stone Point Capital and minority investor Dowling Capital Partners, StarStone enjoys first class backing. In addition to being financially secure, our owners provide strategic and operational advantages. Our owners have a proven track record of building strong and profitable insurance businesses. Enstar as a premier run-off provider and diversified (re) insurance group, Stone Point as a world class investor in the insurance industry and Dowling as a highly regarded insurancefocused private equity firm. WORLDWIDE NETWORK 18 Global offices Operating from 18 offices worldwide, our talent is local and empowered to handle the distinct risk management needs of local market clients. BALANCED PORTFOLIO $825m 2015 Gross Written Premium StarStone s solid premium growth comes from selective organic growth as well as diligent pursuit of attractive acquisition opportunities. 4 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 5

4 GLOBAL REACH OPERATING IN THE WORLD S LEADING MARKETS Seattle Jersey City Chicago New York London Brussels Via Arena and Vander Haeghen & C Rotterdam Cologne Hong Kong Via Objective 160+ Underwriters INSURANCE PLATFORMS StarStone Insurance SE UK insurer regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Paris StarStone Insurance Europe AG Liechtenstein-based European specialty insurer regulated by the Financial Market Authority. Columbia Bermuda Syndicate 1301 Managed by StarStone Underwriting Limited, a Lloyd s registered managing agency. StarStone Specialty Insurance Company Orange County U.S. excess & surplus lines insurer. StarStone National Insurance Company U.S. admitted insurance carrier. StarStone Insurance Bermuda Limited Class-4 insurer domiciled in Bermuda and regulated by the Bermuda Monetary Authority. Atlanta Zürich St. Petersburg Schaan Milan Underwriting operations built through joint ventures and managing general agencies Sydney 6 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 7

5 COLLECTIVE STRENGTH DRIVEN BY TALENT TAILORED PRODUCTS EXPANDING DISTRIBUTION STARSTONE AT LLOYD S StarStone has built an enviable talent pool, and we continue to attract and retain many of the best in the business. It s the expertise, dedication and determination of all our people, from leaders and underwriters through to claims and support professionals, that lead to the close enduring relationships we have with our clients. Our product leaders are also market experts valued for their technical capabilities and industry knowledge. Specialist sector experience across all our divisions ensures we help clients stay on the front foot with continued innovation and bespoke product development. Through the ongoing development of a global network of underwriting hubs, joint ventures and acquisition opportunities, we continue to expand our broker and customer distribution base, building strong, long-term partnerships across both traditional and key growth markets. Through Lloyd s, Syndicate 1301 has global distribution reach with direct or reinsurance licencing in over 200 countries and territories worldwide. In addition to underwriting business directly at Lloyd s in London, Syndicate 1301 provides local access to Lloyd s security in France, Germany, Italy, The Netherlands, Switzerland and the U.S. Syndicate 1301 is managed by our whollyowned Lloyd s managing agency, StarStone Underwriting Limited. StarStone people shape our services. We build close relationships with our clients and bring experience and insight into everything we do. 8 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 9

6 THE STARSTONE PROMISE We re committed to the swift and straightforward settlement of claims. It s as simple as that. It s not just when a loss occurs that we go to extraordinary lengths for our clients claims confidence is fundamental in all that we do. CLAIMS PHILOSOPHY Our aim is simple. To provide a customerfocused service to minimise disruption in the event of a claim. Our service is underpinned by our commitment to deliver a transparent and consistent outcome. We employ knowledgeable insurance experts who provide a responsive service leading to early resolution and prompt payment for all valid claims. A GLOBAL FORCE We uniquely benefit from access to an in-house network of more than 300 technical, legal and loss adjuster professionals across Enstar Group. This includes a Complex Claims Unit, Cranmore and Paladin Managed Care Services. Their proven track record and expert view on prevention, combined with our industry expertise, ensures we deliver leading claims solutions and outcomes to clients worldwide. INNOVATIVE TECHNOLOGY We use Guidewire ClaimCenter, a state-of-the-art global claims management system that supports our product suite. A key differentiator, Guidewire ClaimCenter standardises the claims handling processes to deliver enhanced claims efficiency and improved speed and accuracy of claims payments for StarStone customers worldwide. 10 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 11

7 For StarStone, specialty insurance is the ability to offer innovative solutions tailor-made to the distinct requirements of local market clients, designed to adapt to evolving needs and backed by the promise of financial strength. OUR SEGMENT GROUPS 12 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 13

8 SEGMENT GROUPS MARINE & SPECIALTY LINES MARINE & SPECIALTY LINES UNDERWRITING CONTACTS Simon Schnorr Global Head of Marine e: Jaap Gispen European Head Of Marine e: Tim McAndrew Senior Vice President, Head of U.S. Marine e: Simon Urry Head of Marine & Energy Liability e: Richard J Morris Cargo & Specie Manager e: richard.morris@starstone.com Robert Scott-Mackie Senior Underwriter Marine e: robert.scott-mackie@starstone.com Joerg Raschke Marine Manager e: joerg.raschke@starstone.com Marine is one of the core offerings of our global portfolio. Our market-leading underwriting expertise via our London, European and U.S. platforms, ensures we service our clients specific needs effectively. We provide worldwide solutions for ship owners, charterers, ports and terminals, shipyards, multimodal operators and cargo interests who operate in the complex environment of global trade. Our dedicated Marine & Energy liability team is a cornerstone of our practice. In addition to pure marine exposures, we are recognised industry experts for risks emanating from oil, gas and sulphur exploration as well as drilling and production in the field, both onshore and offshore. Specie & Fine Art also forms an important part of our Marine book. We insure a variety of bespoke short-tail specie policies that fall outside standard commercial and industrial portfolios. With our Cargo, Hull & Machinery and Specie teams being significant market participants in their own right, we have the ability to offer the full spectrum of marine coverages either on a standalone basis or through tailor-made multi-line package solutions. U.S. based Inland Marine business is provided through our online broker portal, ESCAPE, offering Contractors Equipment and Mobile Property Floaters. PRODUCTS Hull & Machinery War Cargo Marine & Energy Liability Transport Specie & Fine Art Inland Marine Stefano Nicolini Marine Manager e: stefano.nicolini@starstone.com 14 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 15 14

9 SEGMENT GROUPS CASUALTY UNDERWRITING CONTACTS Linc Trimble Head of ecommerce and U.S. Excess Casualty e: CASUALTY Casualty is our largest product group. Across our diverse global portfolio, multi-risk programmes and bespoke polices are available through retail, wholesale and Lloyd s brokers. Our Casualty experts are on the ground in London, Europe and the U.S. David Whyman Head of International Casualty e: david.whyman@starstone.com Mark Sioma Head of Management & Professional Liability e: mark.sioma@starstone.com Jeroen Claesen European Product Head Financial Lines e: jeroen.claesen@starstone.com Stephen Hitch Underwriting Manager Accident & Health stephen.hitch@starstone.com John Milne Underwriter Accident & Health e: john.milne@starstone.com Robert Herald Head of Healthcare e: robert.herald@starstone.com U.S. EXCESS CASUALTY In the U.S., we cover a range of umbrella, excess and retained limit coverages across multiple market segments and small and mid-market businesses. In addition to traditional platforms, we also transact through our award-winning broker portal, ESCAPE. We operate with minimal clearance issues or volume commitment. MANAGEMENT & PROFESSIONAL LIABILITY Our established Management & Professional Liability practices in Continental Europe and the U.S. specialise in directors, officers, and professional liability protection for traditional as well as emerging professions. Our products are available on a modular basis with one simplified, common policy architecture for all customer types. U.S. HEALTHCARE Our ability to blend deep industry experience with data-driven analysis, ensures we provide tailored healthcare products and innovation that responds to individual client needs. Across our U.S. branch network, we work with provider groups, standalone facilities and large institutions. For our hospital clients, we can also access Syndicate 1301 through U.S. intermediaries. INTERNATIONAL EXCESS CASUALTY Our International Excess Casualty team is one of the most experienced in the London market. We are the single access point for casualty risks which emanate from Fortune 500 businesses in the StarStone group. We provide multi-type coverages, either on a standalone basis or participating as a co-insurer with other carriers within the London insurance community. ACCIDENT & HEALTH Through Syndicate 1301, we write a focused book of international Accident & Health insurance, acting both as a lead and co-insurer. Whether on land, at sea or in the air, we specialise in protection for groups and individuals from air crew personal accident and loss of licence, accidental death and permanent and temporary disability, to sports and high net worth business risks. PRODUCTS Excess Casualty Management & Professional Liability U.S. Healthcare Accident & Health ECOMMERCE PORTAL Our award-winning online broker platform, ESCAPE, offers a fast and cost-effective quote-to-bind-to-issue solution for brokers serving smaller business. ESCAPE continues to grow successfully in Excess Casualty and other core lines including Inland Marine and Equipment Floater, offering best-in-class solutions and immediate wholesale distribution to all 50 U.S. states. StarStone also harnesses the technology behind ESCAPE for our MGA partners across Europe. ESCAPE GROWTH HISTORY (Gross written premium) 2010 $0.9m 2012 $28.5m 2011 $10.8m 2013 $56.8m AWARD WINNING 2014 $79.9m 2015 $91.2m ESCAPE has received market recognition for its development as a Celent Model Insurer and as a Finalist for MarketScout s Entrepreneurial Insurance Award. 16 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM STARSTONE OVERVIEW 2016

10 SEGMENT GROUPS PROPERTY Our Property underwriters are drawn from a wide range of industries, writing a diverse book of property insurance for clients worldwide through lineslip facilities and our Lloyd s, European and U.S. platforms. Flexible programme structures allow participation on a full value / quota share, primary or excess of loss basis. PROPERTY UNDERWRITING CONTACTS Kevin Clarke Head of Property e: kevin.clarke@starstone.com Tom Wylie Head of Construction e: tom.wylie@starstone.com Hugh O Grady Terrorism Underwriter e: hugh.ogrady@starstone.com Ben Wilson Head of Power & Utilities and Onshore Energy e: ben.wilson@starstone.com Marina Moore Head of Upstream & Offshore Energy e: marina.moore@starstone.com Josh Livingston Director HO6 e: josh.livingston@starstone.com GENERAL PROPERTY With an increasing international focus, our General Property team handles small, medium and large commercial and industrial property portfolios across all industry segments. We cover risks from low-hazard to severe-hazard occupancies, including residential property owners, single territory real estate and Fortune 500 businesses. CONSTRUCTION Our practiced team is among the most experienced in the global construction risk sector. We lead a significant amount of the business we write, adding value through extensive understanding and hard-won experience of delivering innovative solutions to complex hazards and risks inherent in construction and erection projects. We are also one of a select group of construction insurers which provides a global offering from a single location in London. ENERGY Serving the world s leading oil, gas and energy companies, we write business through our Lloyd s and London insurance platforms. Our clients are engaged in every type of upstream & offshore and midstream & downstream activity, from extraction of hydrocarbons, storage and distribution to refining and petrochemical operations. In Power & Utilities, we cover all aspects of the generation, transmission and distribution of electric power, protecting property and machinery breakdown and consequential time elements. U.S. HOMEOWNERS We provide Homeowners and Condominium Unit owners insurance across various U.S. coastal locations. We offer many options for customised coverage, from higher coverage limits and more deductible options to convenient payment terms. PRODUCTS General Property Property Binders Construction Onshore Energy Upstream & Offshore Energy Power & Utilities U.S. Homeowners War & Terrorism WAR & TERRORISM Our Property division also includes a range of products for terrorism and political motivated attacks on property and insured assets. We insure against a range of physical damage and business interruption losses, from terrorism, sabotage and riots to insurrection, rebellion and revolution. 18 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 19

11 SEGMENT GROUPS AEROSPACE AEROSPACE UNDERWRITING CONTACTS Richard Etridge COO, Continental Europe; Head of Aerospace e: Greg Dawson Senior Underwriter Aviation e: Marc Weber Senior Underwriter Airlines & Products e: In an increasingly commoditised market, our Aerospace team differentiates itself through service provision, flexibility of coverage and understanding of clients risks. With access to worldwide licencing, we operate across Lloyd s and the London markets, Continental Europe and more recently in the U.S. via our MGA partner, London Aviation Underwriters. We serve a diverse client base, including airlines, cargo operators, aircraft manufacturers and their suppliers as well as airports, service providers and air traffic control. With extensive knowledge of the underlying technical risks associated with all types of aviation operations, our decision-making authority is supported by sophisticated pricing and modelling tools to ensure that we deliver expert product solutions and high-level service now and for the future. PRODUCTS Airlines General Aviation Commercial General Aviation Private PBP (U.S. only) Aerospace Manufacturers Airport Liability / Air Traffic Control (ATC) 20 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 21

12 SEGMENT GROUPS WORKERS COMPENSATION WORKERS COMPENSATION UNDERWRITING CONTACTS Our specialist team has built a reputation for its flexibility and strong relationships with independent agents, wholesalers and managing general underwriters throughout the U.S. workers compensation sector. We provide solutions for a range of industries including energy, manufacturing, construction, oil & gas, automotive dealers and healthcare. We specialise in covering cross-state, multijurisdictional (State Act-Longshore-Jones Act) exposures on a single policy. Placing a particular emphasis on technical expertise and practical experience, our diverse capability ensures we help businesses with unusual exposures maximise value from even the most complex risks and opportunities. Paladin Managed Care Services Through the Group s in-house Managed Care business, Paladin, StarStone benefits from an enhanced workers compensation claims offering. This includes prescription drug utilisation review, in-house physicians providing second opinions and performing case reviews, and access to vendor management healthcare facilities and prescription drug companies. Paladin is setting the industry standard for services that reduce claims costs while improving patient care. Paladin s unique approach involves physicians in all its services and combines the latest technology to drive better results for clients. PRODUCTS Guarantee Cost Incurred Loss Retrospective Rating Plans Paid Loss Retrospective Rating Plans Jeff Wanamaker Head of Workers Compensation e: jeff.wanamaker@starstone.com Scott Tramel VP Business Development e: scott.tramel@starstone.com Bill Lemoine VP Underwriting e: william.lemoine@starstone.com Cliff Bogh VP Underwriting e: cliff.bogh@starstone.com Tracey Hughes VP Underwriting e: tracey.hughes@starstone.com John Searles VP Underwriting e: john.searles@starstone.com 22 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 23

13 KEY MILESTONES AN ESTABLISHED GLOBAL BUSINESS JUNE We launch in 2008 with 20 employees writing Offshore Energy business from two offices in London and Bermuda. JUNE Property and Excess Casualty accounts launch in the U.S. SEPT Global Specialty offering launches. MAY We open for business in Continental Europe. Acquisition of Glacier Insurance AG extends European presence; brings on board new offices in Cologne and Zurich, and enhances specialty offering. OCT ecommerce division opens with the launch of our proprietary online broker portal, ESCAPE. SEPT Specialty platform at Lloyd s launches with the acquisition of Syndicate JULY Lloyd s managing agency is approved in principle; launches March DEC Workers Compensation division launches in the U.S. Products offered on a direct basis through our U.S. admitted insurance platform. APR We are acquired by Enstar Group, together with the Trident Funds managed by Stone Point Capital. MAY Dowling Capital Partners invests USD$8m into our business, becoming a minority investor. JAN Condominium and Homeowners divisions open in the U.S. MAY We start writing General Aviation in the U.S. through our MGA partner, London Aviation Underwriters. JUN Specialty offering launches in Hong Kong through our joint venture managing general agent, Objective. MAY We announce our entry into the Australian market with the creation of an underwriting operation in Sydney. NOV We acquire two specialty insurance agencies in Belgium: Vander Haeghen & C and Arena. Today we serve 135k+ Customers worldwide Today we have 8 Offices in Continental Europe Today we deliver specialty solutions from 9 Offices throughout the U.S. In 2015, we acquired 5 New MGAs, joint ventures and Enstar derived specialty businesses 24 STARSTONE OVERVIEW 2016/2017 FOR MORE INFORMATION VISIT STARSTONE.COM 25

14 PRODUCT LIST INTERNATIONAL Products written via London and Continental Europe U.S. Products written locally through our admitted and excess & surplus lines carriers LLOYD S Products written via Syndicate 1301 carriers MARINE Hull & Machinery War Cargo Marine & Energy Liability Transport Specie & Fine Art Inland Marine CASUALTY Excess Casualty ESCAPE Financial Lines Management & Professional Liability U.S. Healthcare Accident & Health PROPERTY Construction General Property Onshore Energy Power & Utilities Property Binders U.S. Homeowners Upstream & Offshore Energy War & Terrorism AEROSPACE Airlines General Aviation Aviation Products WORKERS COMPENSATION Automobile Dealers Construction Energy Healthcare Manufacturing Oil & Gas USL&H and Jones Act / Maritime GET IN TOUCH INTERNATIONAL OPERATIONS 88 Leadenhall Street, London, EC3A 3BP, UK t: +44 (0) U.S. OPERATIONS Harborside 5, 185 Hudson Street, Suite 2600, Jersey City, NJ 07311, USA t: +1 (201) STARSTONE OVERVIEW 2016/2017

15 09/16 For more information visit starstone.com