TORUS HAS REBRANDED TO STARSTONE FREQUENTLY ASKED QUESTIONS Q: What does the change mean? A: With effect from September 14, 2015, Torus Insurance Holdings Limited will now be StarStone Insurance Holdings Limited, and we have a new logo and an updated look. Over the coming months we will phase out use of the Torus name across the company and this involves transitioning our six insurance platforms across London, Continental Europe and the U.S. to the StarStone brand. At this stage, our insurance platforms all continue to trade using their existing Torus legal entity names. Our change in name does not reflect a change in our business approach or values - we have a loyal client base which we are committed to serving. Under the StarStone brand, we will continue to offer our clients and brokers access to the same teams, products and services. All relationships and policies remain in place. Q: Why are you changing your company name? A: We are changing our name to reflect our company s identity aligned with our new ownership. Since we were acquired by Enstar Group and Stone Point Capital, we have strengthened our management team and reorganised areas of our business. This was recognised by A.M. Best when reaffirming our A- rating. The time is now right to develop a brand which signals our shareholder s continuing commitment and best reflects who we are today. Q: Why StarStone? A: StarStone is a combination of Enstar and Stone Point. We have taken Enstar and Stone Point s names into our own to bring our brands together in a more cohesive way and to signal the strong links between us. Q: How does the change underpin Enstar Group s strategy? A: The acquisition of our business in April 2014 provided Enstar Group with a large, international A- rated insurance company. This diversified Enstar into the active market and enhanced the opportunities available to both its core legacy business and existing live business. StarStone is a key part of Enstar s portfolio and central to its live underwriting operations. Our new brand further cements our role within this strategy. We have collaborated with Enstar in several of its recent acquisitions to apply our underwriting capabilities in ways that enhance transactional value and provide great opportunities for our own growth. Q: How do you feel the new brand will benefit the business? A: Our new name ensures that our business is viewed as a core part of our major shareholder s operations and improves our perception within the market and with regulators and rating agencies. Page 1 of 5
Q: What will change from Monday September, 14, 2015? A: You will notice that we have a new brand: A new logo A rebranded website at www.starstone.com New StarStone signage in all of our 12 global underwriting offices Rebranded marketing collateral The StarStone Company Overview and product factsheets are available at starstone.com/document-library/ New email addresses firstname.lastname@starstone.com Rebranded business cards We are very proud of our new StarStone brand. As a company, we will always do what s best for our brand and we will continue to develop and evolve it over the coming months and years. Q: What will take longer to implement? A: Like most changes of this nature, there will be a transitional period as we bring our operations, materials, systems, tools and outputs in line with our new brand. As mentioned, the process of transitioning our six insurance platforms to the StarStone brand is underway. The name changes require regulatory approval and we do not expect this process to be completed until January 1, 2016. Therefore, for the time being our insurance platforms will all continue to trade using their existing Torus legal entity names. We are committed to keeping our customers updated on our progress and will make further announcements in due course. OLD COMPANY NAME Torus Insurance (UK) Limited A UK insurer authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority Torus Specialty Insurance Company A US excess and surplus lines insurer Torus National Insurance Company A US admitted markets insurer Torus Insurance (Bermuda) Limited A Class-4 insurer domiciled in Bermuda Torus Insurance (Europe) AG A Liechtenstein-based European specialty insurer Syndicate 1301, managed by Torus Underwriting Management Limited NEW COMPANY NAME (Estimated effective date of January 1, 2016) StarStone Insurance Limited StarStone Specialty Insurance Company StarStone National Insurance Company StarStone Insurance Bermuda Limited StarStone Insurance Europe AG Syndicate 1301, managed by StarStone Underwriting Management Ltd Page 2 of 5
Q: How do I refer to you during the legal entity transitional process? A: We are using the StarStone trade name where possible, but because our regulated entities will take time to transition, it may be necessary to make reference to both in interim communications. We are excited about launching our new brand but in the beginning we will all still be getting familiar with it too. We expect short-term usage of StarStone and Torus during the transitional phase. Q: Are you restructuring or announcing any other operational changes? A: This is a rebranding exercise and not part of any restructuring of the business. Our products and services remain unchanged by this process and we look forward to continuing to provide our clients with excellent service. Q: As a broker, client or policyholder, what does this change mean for me? A: It s very much business as usual. Other than a change in name, our clients and policyholders will not be impacted in any way, with all existing insurance policies remaining in place. Q: Do I need to do anything? A: No action is required by you. Q: When do you expect the full transition to be completed? A: January 1, 2016, subject to receipt of all required regulatory approvals. Q: Will the people I contact change? New underwriters or new claims service contact? A: No, your contacts will remain the same. Q: Will you still have the same phone number and fax number and email? A: Our phone numbers will remain the same. We will all be moving emails to the new starstone.com domain. These will be activated from September 14, 2015 our old email addresses will still work for the time being. All emails sent after this date will use the starstone.com domain. Q: Will you still have the same website address? A: Our new website address will be www.starstone.com. At this time, the torus.com domain will be maintained. Website traffic coming to www.torus.com will be automatically redirected to www.starstone.com. Q: Will I receive new marketing materials with the StarStone name and logo? A: The marketing materials will be updated across the group for September 14, 2015, and we can provide access to these on starstone.com from that date. For our distribution partners, we can also provide access to the new logo and company messaging. If you require further information on our new branding materials, please email communications@starstone.com. Page 3 of 5
Q: Are there any changes as to whom I should notify regarding claims on a Torus policy? A: No. There have been no changes to the claims notification process applicable to your policy. Q. Will (re)insurance policies/contracts remain valid? A: Yes. All in-force (re)insurance policies with any Torus entity will remain in force regardless of entity name changes. Q: I am an insurance broker with a Terms of Business Agreement with Torus. Will I receive a new TOBA? A: We will be issuing new TOBAs to all our brokers during Q4 2015 to reflect the new company names. If you have any concerns regarding brokers, please contact brokerservices@starstone.com. Q: When will policyholders receive any necessary policy endorsements and/ or notices? A: As regulatory approvals are received for the insurance platform name changes, any necessary policy endorsements and/or notifications will follow in accordance with regulatory requirements. Q: I am a U.S. insurance broker approved to submit business to Torus National Insurance Company and/or Torus Specialty Insurance Company. Will I receive a new broker or portal agreement? A: No. All in-force broker agreements with any U.S. Torus entity will remain in-force regardless of entity name changes. You may receive additional notices regarding the change, but contractual agreements continue with full effect. Q: When will policyholders, agents and distributors get an official letter to inform them of the name change? A: Official letters will be sent from September 14, 2015. This will be the start of communications and we will work with our Corporate Communications Team to answer specific needs. Please speak to your usual contact who will address any further enquiries. Q: Will client correspondence, statements and financial confirms change? A: We will be taking a more gradual approach to rebranding client-facing service items. The StarStone logo will be added over time. Q: Will the VAT number change? A: No all VAT numbers will remain the same. Page 4 of 5
Q: Will the bank details change? A: The account details and number will not change. However, once we have transitioned our insurance platforms to the StarStone name, we will also change our bank account names to StarStone. We expect this process to be completed in January 2016. We will notify our customers of these changes nearer the time. In this interim period, we d like to ensure you that bank accounts in the Torus name remain perfectly valid. If you have any additional queries, please get in touch with your usual contact. Q: Do I invoice Torus or StarStone? A: As noted, we expect to change our insurance platforms over to the StarStone name in January 2016, subject to regulatory approval. Therefore, until these changes are finalised, please continue to bill us as normal. We will give our customers and suppliers timely notice of our name change so that you can update your systems where necessary. In this interim period, we d like to ensure you that invoices processed in the Torus name will continue to be paid in line with our payment policy. If you have any additional queries, please get in touch with your usual contact. GET IN TOUCH Jenna Kerr StarStone Communications & Branding Manager t: +44 (0)203 206 8251 e: jenna.kerr@starstone.com Page 5 of 5