Investor Presentaiton
STRATEGIC TRANSACTIONS
Completed Internal Reorganization of StarStone and Atrium in early 2021
Recapitalization
of StarStone US
Closed Q4 2020
Atrium Exchange
Transaction
Closed Q1 2021
Sale of StarStone
Underwriting Ltd
Closed Q1 2021
StarStone
International
Put into Runoff
StarStone US received new equity investments from an experienced investor group,
bringing equity capitalization to over $900m
Led by Jeff Consolino, incoming CEO, and Ed Noonan, incoming Executive Chairman
Rebranded as Core Specialty
Enstar acquired all of the Stone Point funds' interest in the new Core Specialty in
exchange for a majority of Enstar's interest in Atrium
Enstar and Stone Point sold SUL, the Lloyd's managing agency, together with the right to
operate Lloyd's Syndicate 1301, to Inigo Limited, a new specialty re/insurance company.
Retained interest in go-forward "Inigo"
Operations will remain in place to serve the needs of policyholders/regulatory requirements
Enstar will no longer consolidate any active underwriting operations in financial statements on
a net basis, but retains exposure to active platforms through minority investments
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