MSIG U.S.A. unveils strategic leadership changes to reinforce commitment to U.S. market and

fuel long-term growth

New York (September 7, 2023) – Johan Slabbert, Chief Executive Officer of MSIG Holdings (U.S.A.), Inc., today announced key
organizational changes and executive leadership appointments to further reinforce the company’s commitment to the U.S.
market, drive innovation, and provide the highest level of service to clients while delivering consistent, profitable growth.

“As we navigate the evolving insurance industry landscape, it is essential for us to continuously adapt, refine, and grow in ways
that allow us to better serve our customers and strengthen our market presence,” said Slabbert. “Strategic alignment, strong
leadership, and deep expertise are crucial to meeting these objectives while staying true to our culture.”
The following organizational changes and executive appointments are effective September 1st:

Peter McKenna has been appointed CEO of Mitsui Sumitomo Insurance (U.S.A.) Inc., (MSMM), the manager of the insurers
serving as the primary risk retention division of MSIG North America (MSIGNA). He succeeds Takehisa (Ted) Chiba, now the
Chairman of Mitsui Sumitomo Marine Management (U.S.A.), Inc. Ted will continue managing the Japan Multinational portfolio.
Peter joined MSIG in December 2021 as the CEO of MS Distribution Holdings LLC (MSDH). His prior roles include CEO of Ryan
Specialty Group, Europe, COO of Financial Lines, EMEA, and COO of Financial Lines, USA, at AIG. Peter’s significant leadership
experience, coupled with his expertise in underwriting, distribution, and market relationships, make him ideally suited for this
pivotal role. He will bring great continuity to business development. Peter’s insights and collaboration will be vital in driving the
growth vision of MSIGNA.

Marc Dantuono has been appointed Director and head of Property. Marc joined the company in 2010, playing vital roles across
the U.S., establishing the Property and Marine divisions. Marc’s extensive insurance background will significantly contribute to
our goals. He will retain direct responsibility for the Property class and will serve on the company’s Board of Directors.
David Guild has been appointed as Director and Head of Financial Lines for MSU. He will have responsibility for all Financial
Lines underwriting and serve as a director on the company’s board. Previously with Convex Insurance and with a
commendable 22-year stint at AIG, David brings a wealth of knowledge to his new role.

Jeff Kaufmann has been appointed head of Marine underwriting. In that role, he will work to further advance our focus in this
area. Prior to this appointment, Jeff was the National Underwriting Executive for Marine. Jeff will serve on the company’s Board
of Directors.

David Mocklow has been appointed Head of Strategy and Transformation. David was previously the Chief Financial and Claims
Officer for MSDH. David has more than twenty-five years of experience holding executive leadership positions in a variety of
areas including strategy, advisory, capital markets, underwriting and claims at various companies including Gramercy Risk
Management, Elanus Insurance Services, Fox Pitt-Kelton, and AON Capital Markets.

Jonathan Charters has been promoted to Head of Execution & Strategy where he will be responsible for executing
transformation management office initiatives. Jonathan has been a key member of the team for the last seventeen years, most
recently as the Deputy CIO of MSMM. He has held various operational, technological, and claims-focused positions across the

Ric Peña joins as Head of Energy and Renewables to lead the effort to build the company’s renewable energy portfolio. Ric joins
us from The Hartford, where he held various underwriting leadership roles. He originally joined The Hartford in 2016 to launch
and grow their Energy business. Ric is a 34-year industry veteran and has held leadership positions at ACE (Chubb), Zurich and
Marsh McLennan.

Keisuke Otsuka, Managing Executive Officer, Deputy Head of International Operations, shared: “These organizational changes
underscore our meaningful commitment to the U.S. market. We’re enhancing our approach to place customer needs at the
forefront, expand our presence nationally, introduce new and diverse product solutions, and ensure sustainable, long-term
growth. We recognize the unique dynamics and evolving needs of this market and are poised to not just navigate the
landscape, but to lead efforts on shaping it.”

For further information contact:

MSIG North America
Kevin S. Murphy
Corporate Communications Officer
Telephone: 908 350 1921
Email: Kevin Murphy

About MSIG North America (MSIG NA)

MSIG NA is the partner that businesses rely on for creative, customized insurance solutions. A domestic company with a global
footprint, MSIG NA helps protect leading businesses across a wide range of industries and around the world while delivering
responsive, personalized service. The company is committed to making a positive impact on the world, from supporting local
communities to helping ensure a sustainable planet.

MSIG North America is a member of MS&AD Insurance Group Holdings, Inc. which is the 8th largest non-life insurance group
in the world by revenue. Based in Tokyo, Japan, we operate in 48 countries/regions and generated $46B in 2021 with
approximately 40,000 employees globally. MSIG North America is the marketing name used to refer to MSIG Holdings (U.S.A.),
Inc. (“MSIGH”), and its subsidiary companies. Not all insurers do business in all jurisdictions. To learn more, visit