Hashtag: #Enstar
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
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 Releases Q1 2024 Financial Results
Enstar Group Limited released its first quarter 2024 financial results. A spokesperson said, “First Quarter 2024 Highlights: Net income attributable to Enstar ordinary shareholders of $119 million, or $8.02 per diluted ordinary share, compared to $424 million, or $24.79 per diluted ordinary share, for the three months ended March 31, 2023. Return... Read more of this article
Enstar Agrees $400M Loss Portfolio Transfer
Enstar Group Limited announced that one of its wholly-owned subsidiaries has reached an agreement for a loss portfolio transfer with a subsidiary of SiriusPoint Ltd. to reinsure a $400 million portfolio of Workers’ Compensation business covering underwriting years 2018 to 2023. A spokesperson said, “Under the reinsurance agreement, which will... Read more of this article
S&P Global Ratings On Enstar Subsidiary
Enstar Group Limited announced today that the ratings agency S&P Global Ratings has assigned an Insurer Financial Strength Rating of ‘A’ with stable outlook to its Bermuda-based, wholly owned subsidiary, Cavello Bay Reinsurance Limited. A spokesperson said, “Cavello Bay is Enstar’s primary non-life run-off consolidator, and a Class 3B... 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 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 Closes Transaction With AIG
Enstar Group Limited closed the previously announced transaction with American International Group, Inc. A spokesperson said, “Enstar Group Limited announced today that one of its wholly-owned subsidiaries has closed the previously announced transaction with American International Group, Inc. [AIG] to provide protection to AIG on its retained... Read more of this article
Enstar Announces Adverse Agreement With AIG
Enstar Group Limited announced that “one of its wholly-owned subsidiaries has signed an agreement with American International Group, Inc. [AIG] to provide AIG with protection against adverse development on the portion of Validus Re’s loss reserves that AIG retains exposure to following the closing of AIG’s sale of Validus Re to RenaissanceRe.” A... 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 Completes Loss Portfolio Transfer
Enstar Group Limited announced that one of its wholly-owned subsidiaries has closed a previously announced Loss Portfolio Transfer agreement with RACQ Insurance Limited [RACQ] to reinsure 80% of RACQ’s motor vehicle compulsory third party insurance liabilities, covering accident years 2021 and prior. A spokesperson said, “Under the reinsurance agreement,... 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 Completes Loss Portfolio Transfer
Enstar Group Limited announced that its wholly-owned subsidiaries have closed a Loss Portfolio Transfer transaction with certain subsidiaries of QBE Insurance Group Limited [QBE] on a diversified portfolio of business, covering International and North America financial lines, European and North American reinsurance portfolios, and several US discontinued... Read more of this article
Enstar Repurchases CPP Non-Voting Shares
Enstar Group has agreed to repurchase 1,597,712 non-voting convertible ordinary shares of Enstar held by Canada Pension Plan Investment Board. A spokesperson said, “Enstar Group Limited announced today that it has agreed to repurchase 1,597,712 non-voting convertible ordinary shares of Enstar held by Canada Pension Plan Investment Board [CPP... Read more of this article
Enstar Makes Several Executive Promotions
Enstar Group Limited announced today several executive promotions following the retirement of President Paul O’Shea on March 1, 2023. A spokesperson said, “Mr. O’Shea served the Company for 28 years. Enstar had announced his planned retirement in July 2022 and has since provided a smooth transition of leadership of the Company’s M&A... Read more of this article
