Enstar Reinsurance Of $690M Compensation
Enstar Group Limited announced that one of its wholly owned subsidiaries has signed an agreement with Continental Casualty Company to reinsure a legacy portfolio of excess workers’ compensation business.
“In the transaction, Enstar’s subsidiary will assume net insurance reserves of approximately $690 million, relating to 2007 and prior year business,” the company said. The closing of the transaction is subject to regulatory approval and other closing conditions.”
Dominic Silvester, Enstar’s Chief Executive Officer said: “Our agreement today to partner with CNA, an industry leader, expands our portfolio of U.S. excess workers’ compensation legacy reserves, a line of business we have considerable experience and success in managing.”
