Enstar Completes the Reinsurance of $0.5 Billon of Zurich North America’s Legacy A&E Business

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Enstar Completes the Reinsurance of $0.5 Billon of Zurich North America’s Legacy A&E Business

Oct 1, 2019

HAMILTON, Bermuda, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has completed a previously announced transaction to reinsure a number of the U.S. asbestos and environmental liability insurance portfolios of Zurich North America

In the transaction, Enstar’s subsidiary assumed gross insurance reserves of approximately $0.5 billion, relating to 1986 and prior year business.

Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions.

About Enstar

Enstar is a multi-faceted insurance group, with approximately $18.2 billion in assets, that offers innovative capital release solutions and specialty underwriting capabilities through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. Enstar is a market leader in completing legacy acquisitions, having acquired over 95 companies and portfolios since its formation in 2001. Enstar’s active underwriting businesses include the StarStone group of companies, an A- rated global specialty insurance group with multiple global underwriting platforms, and the Atrium group of companies, which manage and underwrite specialist insurance and reinsurance business for Lloyd’s Syndicate 609. For further information about Enstar, see www.enstargroup.com.

Contact: Guy Bowker
Telephone: +1 (441) 292-3645

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Source: Enstar Group Limited

QUICK STATS

$18.2bn

Assets
September 30, 2019

$13.1bn

Liabilities
September 30, 2019

$4.7bn

Shareholders’ equity
September 30, 2019

100

Total acquisitive transactions since formation