Enstar Group Reports 2021 Year-End Results

February 27, 2022 | 0 Comments

Enstar reported consolidated net earnings of $437 million [or earnings of $21.71 per fully diluted ordinary share] for the year ended December 31, 2021, compared to consolidated net earnings of $1.7 billion [or earnings of $78.80 per fully diluted ordinary share] for the year ended December 31, 2020.

A spokesperson said, “The key drivers of net earnings for the year ended December 31, 2021 were:

  • Net investment income of $312 million;
  • Net unrealized gains of $178 million, comprised of $384 million relating to our other investments, including equities, partially offset by net unrealized losses of $206 million relating to our fixed maturity securities; and
  • Favorable prior period development in net incurred losses and loss adjustment expense of $283 million.

“Return on equity and adjusted return on equity* were 7.1% and 9.2%, respectively, for the year ended December 31, 2021, compared to 39.7% and 43.6%, respectively, for the year ended December 31, 2020 and 26.6% and 19.6%, respectively, for the year ended December 31, 2019.

“Enstar’s ordinary shareholders’ equity at December 31, 2021 amounted to $5.6 billion [or book value per ordinary share of $316.34 and adjusted book value per ordinary share* of $310.80], compared to $6.2 billion [or book value per ordinary share of $286.45 and adjusted book value per ordinary share* of $281.20] at December 31, 2020.”

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