Hashtag: #Enstar
AXIS & Enstar Announce $2.3B Reinsurance Deal
AXIS Capital Holdings Limited and Enstar Group Limited have entered into a loss portfolio transfer reinsurance agreement covering a portfolio of reinsurance segment business. A spokesperson said, “The closing of the transaction is subject to regulatory approvals and other customary conditions, and is expected to occur during the first half of... Read more of this article
Enstar Agrees ADC Agreement With James River
Enstar announced that one of its wholly-owned subsidiaries has entered into an adverse development cover [ADC] reinsurance agreement with certain subsidiaries of James River Group Holdings, Ltd. A spokesperson said, “Under the terms of the agreement, Enstar’s subsidiary will provide $75 million of limit in excess of the existing $160 million... Read more of this article
Enstar Group Preference Share Dividends
Enstar Group Limited today announced that it will pay cash dividends on its Series D and Series E preference shares. A spokesperson said, “Dividends on Enstar’s Series D 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share [each of which represents a 1/1,000th interest in a Series D Preference... Read more of this article
Enstar Loss Portfolio Transfer With QBE
Enstar Group Limited announced that its subsidiary has completed a loss portfolio transfer with QBE Insurance. A spokesperson said, “Enstar Group Limited announced today that one of its wholly-owned subsidiaries has closed a previously announced ground-up loss portfolio transfer transaction with subsidiaries of QBE Insurance Group Limited [QBE]... Read more of this article
Enstar Changes Executive Leadership Team
Enstar Group Limited announced changes to its executive leadership team in connection with the upcoming retirement of Orla Gregory, President, at the end the year, and the expanding role of Enstar in the insurance industry. A spokesperson said, “Paul Brockman has been appointed as Chief Commercial Officer with immediate effect. Paul has been... Read more of this article
Enstar Group ‘Go-Shop’ Period Expires
Enstar Group Limited announced that its 35-day “go-shop” period ended without receiving any alternative acquisition proposals, as part of its $5.1 billion merger agreement with Sixth Street. A spokesperson said, “Enstar Group Limited Today announced the expiration of the 35-day “go-shop” period as provided in the previously announced definitive... Read more of this article
Enstar Group Completes $442M Deal With IAG
Enstar Group Limited has completed the previously announced transaction between one of its wholly owned subsidiaries with Insurance Australia Limited, on behalf of Insurance Australia Group [IAG], following receipt of the relevant regulatory approvals and satisfaction of the final closing conditions. A spokesperson said, “Under the terms of... Read more of this article
Enstar To Enter $376M Loss Portfolio Transfer
Enstar Group announced that one of its wholly owned subsidiaries has reached an agreement to provide a ground-up Loss Portfolio Transfer [LPT] with certain subsidiaries of QBE Insurance Group Limited [QBE]. A spokesperson said, “The transaction involves a diversified portfolio of US commercial liability and workers’ compensation business, largely... Read more of this article
Enstar Group Preference Share Dividends
Enstar Group Limited announced that it will pay cash dividends on its Series D and Series E preference shares. A spokesperson said, “Dividends on Enstar’s Series D 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share [each of which represents a 1/1,000th interest in a Series D Preference Share]... Read more of this article
Enstar Group To Be Acquired By Sixth Street
Enstar Group announced that it has “entered into a definitive merger agreement under which Sixth Street will acquire Enstar, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the transaction. ” A spokesperson said, “Enstar shareholders will receive a total of $338.00 in cash... Read more of this article
Enstar’s Subsidiaries Complete Reinsurance Deal
Enstar Group Limited announced that one of its wholly owned subsidiaries has completed a transaction to reinsure legacy business written by Accredited Surety and Casualty Company, Inc. and Accredited Insurance [Europe] Limited. A spokesperson said, “Enstar has provided reinsurance in connection with the acquisition of Accredited by Onex Partners. “The... Read more of this article
Enstar Agrees Cover Transaction With IAG
Enstar Group Limited announced that one of its wholly owned subsidiaries has signed an adverse development cover agreement with Insurance Australia Limited, on behalf of Insurance Australia Group [IAG]. A spokesperson said, “Under the terms of the agreement Enstar will provide approximately the equivalent of US$430 million [AU$650m] of excess... Read more of this article
