Stirling Cooke Brown Changes Name to AlphaStar Insurance Group

October 1, 2002

Bermuda-based Stirling Cooke Brown Holdings Limited announced that it has changed its name to AlphaStar Insurance Group Limited, effective immediately.

Stirling Cooke has undergone significant changes in management, following its involvement in the legal proceedings over the failed Unicover workers compensation insurance pool. The bulletin declared that “a change of name would enable the Company and its subsidiaries to make a cleaner break from a past in which reinsurance disputes created image issues that unfairly burdened the Group’s ongoing operations.”

It also stated that “given the extensive re-engineering that has been implemented throughout the organization, the Board felt that a new name would appropriately reflect the creation of what is essentially an entirely new Company.”

Stephen A. Crane, AlphaStar’s Chairman, President & CEO commented that the name denotes the brightest star in a constellation and expressed his hope that the company, which provides commercial property and casualty insurance services and products to insurance and reinsurance companies, agents, and insureds, would live up to the designation.

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