Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% No 27 of 2021 (Cth)

Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% No 27 of 2021

Financial Sector (Shareholdings) Act 1998

To: Tango Holdings, Inc. (Delaware) (Tango) and its associates and the persons listed in Schedule 1 ('the applicants')

SINCE:

1. On 25 November 2008, Aspen Insurance Holdings Limited and Aspen (UK) Holdings Limited were granted approval under section 14(1) of the Financial Sector Shareholdings Act 1998 ('the Act') to hold a 100% stake in Aspen (UK) Holdings Limited (AIUK), an authorised insurer under the Insurance Act 1973 authorised to carry on insurance business in Australia via its Australia branch ('existing approval 1');

B. On 18 November 2014 Aspen Insurance Holdings Limited and its associates were granted approval under section 14(1) of the Act to hold a 100% stake in AIUK and Aspen Fenchurch Limited now Aspen European Holdings Limited (UK Company), each financial sector companies under the Act ('existing approval 2');

C. On 11 February 2019, Highland Holdings Ltd Bermuda and its associates were granted approval under section 14(1) of the Act to hold a 100% stake in Highland Holdings Ltd Bermuda now Highlands Bermuda Holdco Ltd, Aspen Insurance Holdings Limited (Bermuda), Aspen European Holdings Limited (UK) and AIUK, each financial sector companies under the Act ('existing approval 3');

D. Each of the respective existing approval holders (except for APJ Continuation Limited; Aspen Re America CA LLC and Aspen Re America Risk Solutions LLC, which no longer exist) has requested that existing approval 1, existing approval 2 and existing approval 3 be revoked from the time the applicants are granted an approval to hold a 100% stake in the financial sector companies specified in Schedule 2 ('the financial sector companies');