Hashtag: #Enstar
Enstar To Enter Loss Portfolio Transfer
Enstar Group Limited announced that one of its wholly-owned subsidiaries has signed a Loss Portfolio Transfer agreement with RACQ Insurance Limited 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, which is effective as... Read more of this article
Enstar To Enter $1.9B Loss Portfolio Transfer
Enstar Group announced that its wholly-owned subsidiaries have reached an agreement for a ground-up Loss Portfolio Transfer with certain subsidiaries of QBE Insurance Group Limited 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 Completes Loss Portfolio Transfer
Enstar Group Limited has closed its Loss Portfolio Transfer transaction with specialty insurance underwriter Argo Group International Holdings Ltd. A spokesperson said, “Enstar Group Limited announced today that one of its wholly-owned subsidiaries has closed its Loss Portfolio Transfer transaction with specialty insurance underwriter Argo Group... Read more of this article
Enstar Group Preference Share Dividends
Enstar Group 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] will... Read more of this article
Enstar Group Announces Business Updates
Enstar Group Limited has announced updates relating to its joint venture with Allianz SE [Allianz], Enhanzed Reinsurance Ltd. [Enhanzed Re], and its recent investment portfolio performance. A spokesperson said, “On August 18, 2022, Cavello Bay Reinsurance Limited [Cavello Bay], a wholly-owned subsidiary of Enstar, entered into a Master Agreement... Read more of this article
O’Shea To Retire From Enstar In March 2023
Paul O’Shea, President of Enstar Group Limited, will retire in March 2023. A spokesperson said, “Paul O’Shea, President of Enstar Group Limited, will retire in March 2023 after 28 years serving the company and its predecessor Castlewood Limited. Mr. O’Shea will remain as a member of the Board of Directors of Enstar, and the Group and its shareholders... Read more of this article
Enstar Completes Agreement With Aspen
Enstar Group announce that one of its wholly owned subsidiaries has closed a previously announced agreement for a ground-up loss portfolio transfer with Aspen Insurance Holdings Limited and its subsidiaries for their 2019 and prior business. Enstar will assume net loss reserves of $3.12 billion, subject to a limit of $3.57 billion. The existing adverse... Read more of this article
Enstar Quarterly 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 Reports 2021 Year-End Results
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... Read more of this article
Enstar Quarterly 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 Prices $500 Million of Notes
Enstar Group Limited announced that its subsidiary, Enstar Finance LLC, “priced $500 million aggregate principal amount of 5.500% Fixed-Rate Reset Junior Subordinated Notes due 2042 fully and unconditionally guaranteed, on a junior subordinated basis, by Enstar.: “The offering is expected to close on January 14, 2022, subject to satisfaction... Read more of this article
Enstar Announces Transaction With Aspen
Enstar Group Limited has announced a $3.12 billion LPT transaction with Aspen Insurance Holdings Limited. A spokesperson said, “Enstar Group Limited announced today that one of its wholly owned subsidiaries has reached an agreement for a ground-up loss portfolio transfer with Aspen Insurance Holdings Limited for its 2019 and prior business [the LPT]. “In... Read more of this article
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... Read more of this article
Enstar Group Reports Third Quarter Results
Enstar Group Limited filed its quarterly report on Form 10-Q with the SEC, reporting its earnings [loss] and financial position for the three and nine months ended September 30, 2021. The company said, “Enstar reported a consolidated net loss of $196.0 million [or loss of $10.68 per fully diluted ordinary share] and consolidated net earnings $364.6... Read more of this article
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 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
