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Enstar Completes ADC Agreement With RSA

Enstar Completes ADC Agreement With RSA

Enstar Group Limited announced that one of its wholly owned subsidiaries has closed a previously announced agreement with Royal & Sun Alliance Insurance Limited. A spokesperson said, “Enstar Group Limited announced today that one of its wholly owned subsidiaries has closed a previously announced agreement with Royal & Sun Alliance Insurance... Read more of this article

Enstar Completes Acquisition Of Enhanzed Re

Enstar Completes Acquisition Of Enhanzed Re

Enstar Group Limited announced that one of its wholly owned subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Reinsurance Ltd. previously held by an affiliate of Hillhouse Group. “The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total shareholders’ equity as of June 30, 2021 and is subject... Read more of this article

Enstar Prices $500 Million Of Senior Notes

Enstar Prices $500 Million Of Senior Notes

Enstar Group Limited announced the pricing of $500 million aggregate principal amount of its 3.100% Senior Notes due 2031. The offering is expected to close on August 24, 2021, subject to satisfaction of customary closing conditions. The company said, “Enstar intends to use the net proceeds from the offering to fund the purchase of its 4.500%... Read more of this article

Enstar Announces Appointment Of Acting CFO

Enstar Announces Appointment Of Acting CFO

Enstar Group Limited announced that Zachary Wolf has stepped down from his position as Chief Financial Officer to “pursue other opportunities and will remain available for a transition period until September 30, 2021.” Orla Gregory, Enstar’s current Chief Operating Officer, has been named Acting Chief Financial Officer. Michael Murphy,... Read more of this article

Enstar Quarterly Preference Share Dividends

Enstar Quarterly Preference Share Dividends

Enstar Group Limited announced that it will pay cash dividends on its Series D and Series E preference shares. “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] will be payable... Read more of this article

Enstar Group Reports Second Quarter Results

Enstar Group Reports Second Quarter Results

Enstar Group Limited filed its quarterly report on Form 10-Q with the SEC, reporting its earnings and financial position for the three and six months ended June 30, 2021. The company said, “Enstar reported consolidated net earnings of $377.3 million [or $17.28 per fully diluted ordinary share] and $560.5 million [or $25.60 per fully diluted ordinary... Read more of this article

Enstar Completes Transaction With ProSight

Enstar Completes Transaction With ProSight

Enstar Group Limited announce that one of its wholly owned subsidiaries has completed a transaction with ProSight Global, Inc. to provide reinsurance relating to 2019 and prior year business. The company said, The reinsurance comprises a ground up loss portfolio transfer of ProSight’s discontinued workers’ compensation and excess workers’ compensation... Read more of this article

Enstar Announces ADC Agreement With RSA

Enstar Announces ADC Agreement With RSA

Enstar Group Limited announced that one of its wholly owned subsidiaries has signed an agreement with Royal & Sun Alliance Insurance Limited to provide adverse development cover for certain UK, Irish and other business of RSA and its subsidiaries, in exchange for premium. “RSA is a wholly owned subsidiary of Toronto-based property & casualty... Read more of this article

Enstar Enters Into Transactions With Hillhouse

Enstar Enters Into Transactions With Hillhouse

Enstar Group Limited has entered into an agreement to repurchase an aggregate of 3,749,400 ordinary shares of Enstar held by funds managed by Hillhouse Capital Management for a price of $234.52 per share, totaling $879.3 million in aggregate, a discount to book value. A statement from the company said, “The shares represent the Hillhouse funds’... Read more of this article

Enstar Reinsures Hiscox Legacy Portfolio

Enstar Reinsures Hiscox Legacy Portfolio

Enstar Group Limited announced that one of its wholly owned subsidiaries has completed a Loss Portfolio Transfer with Hiscox Ltd. A spokesperson said, “Enstar Group Limited announces today that one of its wholly owned subsidiaries has completed a Loss Portfolio Transfer with Hiscox Ltd [Hiscox], pursuant to which Enstar’s Syndicate 2008 has... Read more of this article

Enstar Quarterly Preference Share Dividends

Enstar Quarterly Preference Share Dividends

Enstar Group Limited announced that it will pay cash dividends on its Series D and Series E preference shares. 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] will be payable on June... Read more of this article

Enstar Completes Transaction With AXA XL

Enstar Completes Transaction With AXA XL

Enstar Group Limited announced that one of its wholly owned subsidiaries has completed a transaction with AXA XL, a division of AXA, to provide adverse development cover. A spokesperson said, “In the transaction, Enstar’s subsidiary assumed reinsurance losses incurred on or prior to December 31, 2019 on a diversified mix of global casualty and... Read more of this article

Enstar Group Reports 2020 Year-End Results

Enstar Group Reports 2020 Year-End Results

Enstar Group Limited filed its annual report on Form 10-K with the SEC, reporting its earnings and financial position for the year ended December 31, 2020. “Enstar reported consolidated net earnings of $1.7 billion [or earnings of $78.80 per fully diluted ordinary share] for the year ended December 31, 2020, compared to consolidated net earnings... Read more of this article