Enstar Announces CFO Succession Plan

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Enstar Announces CFO Succession Plan

May 22, 2017

HAMILTON, Bermuda, May 22, 2017 (GLOBE NEWSWIRE) -- Enstar Group Limited (Nasdaq:ESGR) today announced its succession plan for Chief Financial Officer, Mark Smith.  Smith has served as Enstar’s CFO since August 2015 and will step down on December 31, 2017.  He will move into a consulting role for Enstar beginning January 1, 2018.

Guy Bowker, Chief Accounting Officer and Deputy CFO, will assume the role of Chief Financial Officer on January 1, 2018.  Bowker joined Enstar in September 2015.  Previously, he served as Senior Vice President - Controller of Platinum Underwriters Holdings, Ltd. and as Director of Finance for AIG in Bermuda.  He began his career at Deloitte in its insurance practice.

Dominic Silvester, Chief Executive Officer, said: “Mark has played an essential role during an important period in Enstar’s growth, and I am grateful for his contributions. When he joined us in 2015, his key objectives were to strengthen the Group Finance function and to develop a successor, which he has now accomplished. In Guy Bowker, we have identified a talented professional whose expertise and dedication make him an excellent successor to Mark. I am confident that as CFO and a member of the executive leadership team Guy will be able to make an even more significant contribution to Enstar. Mark and Guy will prepare for the transition throughout the year, and Mark will continue his work with Enstar as a senior advisor after January 1, 2018.”

About Enstar

Enstar is a multi-faceted insurance group 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 75 companies and portfolios since its formation in 2001, and has over $14 billion in total assets. 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.

Cautionary Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Important risk factors regarding Enstar can be found under the heading "Risk Factors" in Enstar's Form 10-K for the year ended December 31, 2016 and are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law.

Contact: Mark Smith
Telephone: +1 (441) 292-3645

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Enstar Group Limited
QUICK STATS

$14.8bn

Assets
Sep 30, 2017

$11.3bn

Liabilities
Sep 30, 2017

$3.0bn

Shareholders’ equity
Sep 30, 2017

75+

Total acquisitive transactions since formation