Approval to hold a stake in a financial sector company of more than 20% No. 2 of 2026

Financial Sector (Shareholdings) Act 1998

To: the applicants listed in Schedule 1 (Applicants)

Since:

1.             On 12 March 2025, the Applicants applied to the Treasurer under section 13 of the Act for the following approvals:

1.            George Karfunkel, Leah Karfunkel and Barry Zyskind to hold a 55.18% stake in Evergreen Parent L.P, a financial sector company under the Act (Evergreen);
2.          Trident Pine Acquisition L.P.to hold a 22.63% stake in Evergreen; and
3.        the Applicants to hold a 100% stake in each of the other financial sector companies listed in Schedule 2;

(FSSA Application);

1.             on 29 May 2025 and 9 July 2025, the Applicants provided further information on the FSSA Application in response to questions from APRA;
2.             on 19 August 2025, the final version of the FSSA Application was submitted to APRA; and
3.             I am satisfied it is in the national interest to approve the FSSA Application,

I, Jane Magill, a delegate of the Treasurer, under paragraph 14(1)(a) of the Act, approve the FSSA Application.

This approval commences on the day it is made and remains in force indefinitely. Dated: 6 February 2026

Jane Magill Executive Director

General Insurance and Banking 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.

Schedule 1 – the Applicants

George Karfunkel Leah Karfunkel Barry Zyskind

Trident Pine Acquisition, L.P.

Evergreen Parent, L.P. (Delaware, USA; registered number 6773993) AmTrust Financial Services, Inc. (Delaware, USA; company number 2245937) AmTrust International Insurance, Ltd. (Bermuda; company number BMA9551) AmTrust Bermuda I Ltd. (Bermuda; company number 50683)

AMT International Holdings Limited (England; company number 10189982) AmTrust Bermuda II Ltd. (Bermuda; company number 50683)

AmTrust Bermuda III Ltd. (Bermuda; company number 50685)

All Insurance Management Ltd. (Bermuda; company number 37352) AmTrust Equity Solutions Ltd. (Bermuda; company number 46151) AmTrust International Limited (England; company number 01229676)

Schedule 2 – other financial sector companies

AmTrust Financial Services, Inc. (Delaware, USA; company number 2245937) AmTrust International Insurance, Ltd. (Bermuda; company number BMA9551) AmTrust Bermuda I Ltd. (Bermuda; company number 50683)

AMT International Holdings Limited (England; company number 10189982) AmTrust Bermuda II Ltd. (Bermuda; company number 50683)

AmTrust Bermuda III Ltd. (Bermuda; company number 50685)

All Insurance Management Ltd. (Bermuda; company number 37352) AmTrust Equity Solutions Ltd. (Bermuda; company number 46151) AmTrust International Limited (England; company number 01229676) AmTrust Specialty Limited