Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% No. 8 of 2023 (Cth)

Revocation of existing approval and granting of new approval to hold a stake in a financial sector company of more than 20% No. 8 of 2023

Financial Sector (Shareholdings) Act 1998

To: The Existing Approval Holders named in Schedule 1 and the Applicants named in Schedule 2

Since:

1. On 7 September 2011, the Existing Approval Holders were granted approval under subsection 14(1) of the Act to hold a 100% stake in Berkley Insurance Company ARBN 126 559 706 (the company), a financial sector company under the Act (the Existing Approval);

B. On 24 November 2023, the Existing Approval Holders requested that the Existing Approval be revoked;

C. On 24 November 2023, the Applicants applied to the Treasurer under section 13 of the Act, for approval to hold a 100% stake in the company, Signet Star Holdings, Inc. and W. R. Berkley Corporation, each a financial sector company under the Act;

D. I am satisfied it is in the national interest for the Applicants to hold a 100% stake in the company, Signet Star Holdings, Inc. and W. R. Berkley Corporation.

I, John Huijsen, a delegate of the Treasurer:

(a) under subsection 18(3) of the Act, revoke the Existing Approval; and

(b) under subsection 14(1) of the Act, approve each of the Applicants holding a 100% stake in the company, Signet Star Holdings, Inc. and W. R. Berkley Corporation.

The instrument commences on the day it is made and remains in force indefinitely. Date: 20 December 2023

John Huijsen General Manager Insurance Division Australian Prudential Regulation Authority Interpretation

Act means the Financial Sector (Shareholdings) Act 1998. financial sector company has the meaning given in section 3 of the Act. stake in relation to a company, has the meaning given in clause 10 of Schedule 1 to the Act.