Enstar Earnings Jump By Almost $40 Million
The Bermuda-based Enstar Group Limited filed its annual report on Form 10-K with the US Security & Exchanges Commission earlier today [Mar. 7], reporting its earnings and financial position for the year ended December 31, 2010.
Enstar reported consolidated net earnings of $174.1 million — or $12.66 per fully diluted share — for the year ended December 31, 2010, compared to $135.2 million — or $9.84 per fully diluted share — for the year ended December 31, 2009.
Enstar’s shareholders’ equity at December 31, 2010 amounted to $948.4 million [excluding noncontrolling interest of $267.4 million] or $71.68 per fully diluted share, up from $801.9 million or $58.06 per fully diluted share at December 31, 2009.
The Form 10-K, which is available on Enstar’s website contains a more detailed description of Enstar’s business and financial results.
Enstar, a Bermuda company firned in 1995, acquires and manages insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off, and provides management, consultancy and other services to the insurance and reinsurance industry.
