Enstar Completes Transaction With Atrium
Enstar Group Limited announced its Lloyd’s syndicate [Syndicate 2008], managed by Enstar Managing Agency Limited, has completed the previously announced transaction with Atrium Syndicate 609, managed by Atrium Underwriters Limited.
A spokesperson said, “Under the terms of the loss portfolio transfer agreement, Atrium Syndicate 609 ceded net loss reserves of approximately $196 million, based on Atrium’s carried reserves as at Q3 2024, to Enstar’s Syndicate 2008. The reinsurance relates to business underwritten in the 2023 and prior years of account, with all claims handling transferring to Syndicate 2008.
“Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions.”
