Enstar Completes Reinsurance Of $690 Million
Enstar Group Limited announced that one of its wholly owned subsidiaries has completed a transaction with Continental Casualty Company [CNA] to reinsure a legacy portfolio of excess workers’ compensation business.
“In the transaction, CNA ceded net insurance reserves to an Enstar subsidiary of approximately $690 million not inclusive of any roll forward adjustments, relating to 2007 and prior year business,” the company said.
“Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions.”
