Market Overview

Starr Acquires Aspen's Aviation Operation


Starr Insurance Companies announced today that it has entered into an
agreement to acquire the renewal rights of Aspen Insurance's aviation
business. The value of the aviation book is estimated to be in excess of
$50 million in gross written premiums.

In conjunction with this agreement, Starr will also manage all
underwriting and claims administration on current business, as well as
manage the run-off of Aspen's aviation claims and reserves from prior
years. This follows Aspen's announcement last week that they will exit
the aviation insurance market.

"This agreement will provide Aspen customers with a seamless, efficient
way to transfer their business to one of the world's leading aviation
insurance carriers," said Maurice R. Greenberg, Chairman and CEO, C.V.
Starr & Co. Inc. "Starr's aviation clients benefit from our extensive
industry experience, world-class underwriting, loss control and our A.M.
Best ‘A' rated financial strength. The aviation business will continue
to be a focus for us for years to come."

Starr's aviation group provides a wide range of specialized, tailored
insurance programs to aviation companies and their employees around the
world, including commercial and regional airlines; aircraft and
aerospace manufacturers; charter and cargo operations; corporate fleets;
private pilots and light aircraft; aviation service providers; and
airports and fixed-base operators.

About Starr Insurance Companies

Starr Insurance Companies (or Starr) is a marketing name for the
operating insurance and travel assistance companies and subsidiaries of
Starr International Company, Inc. and for the investment business of C.
V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance
and investment organization with a presence on five continents; through
its operating insurance companies, Starr provides property, casualty,
and accident and health insurance products as well as a range of
specialty coverages including aviation, marine, energy and excess
casualty insurance. Starr's insurance company subsidiaries domiciled in
the U.S., Bermuda, China, Hong Kong, Singapore and U.K. each have an
A.M. Best rating of "A" (Excellent). Starr's Lloyd's syndicate has a
Standard & Poor's rating of "A+" (Strong).

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