Enstar Announces Recapitalization of StarStone U.S. with New Leadership and Significant Investment led by SkyKnight Capital, Dragoneer Investment Group and Aquiline Capital Partners - Seite 2

Jeff Consolino is an experienced insurance industry leader with over 28 years of industry experience. Most recently, Jeff was Executive Vice President, Chief Financial Officer and a Director of American Financial Group, Inc. He was previously a founding executive of Validus Holdings, Ltd. (“Validus Group”) where he served as President and Chief Financial Officer.

“I am delighted and honored to take on the role of CEO of StarStone U.S.,” said Mr. Consolino. “I am looking forward to working with the Company’s many talented underwriters, employees, and distribution partners as well as the reconstituted Board of Directors to build a market leading specialty insurance company. We observe premium pricing increasing and capacity contracting across multiple classes of business including commercial property, D&O, excess casualty, marine & aviation and professional liability. Social inflation and natural catastrophe losses, including floods and wildfires, have also added to market rate momentum. In addition, the COVID-19 pandemic has led to market dislocation and additional capital need. We believe a specialist insurance company with the right leadership, financial backing, protection from legacy exposures and niche orientation can create significant value in this environment.”

Ed Noonan brings more than 40 years of industry experience to the Company. He served most recently as Chairman and CEO of Validus Group, a position he held from 2005 to 2018. Under Mr. Noonan’s leadership, Validus Group experienced significant growth, and ultimately was acquired by AIG in 2018 after more than a decade as a leading independent public company. Mr. Noonan also served as President and CEO of American Re from 1997 to 2002, after joining the firm in 1983. A recognized market leader, Mr. Noonan brings vast expertise to the position of Executive Chairman.

Mr. Noonan said: “Having had the chance to work with the StarStone U.S. team, I am really pleased to have the opportunity to help them build on the excellent work they have done. We have assembled a Board comprised of company founders and business builders which we believe is second to none. I have worked closely with Jeff and many of the directors for years and believe the mix of their skills and experience will greatly benefit the development of the enhanced StarStone U.S. business plan. We are very pleased to have the opportunity to partner with patient, long-term investors Dragoneer and SkyKnight who bring a valuable network across both the technology and insurance industries. Following the formation and successful sale of Validus, we are also excited that Aquiline will again invest with us.”