Enstar Completes the Reinsurance of $690 Million of Continental Casualty Company’s Legacy Excess Workers’ Compensation Business

‹ Back to Media Centre

Enstar Completes the Reinsurance of $690 Million of Continental Casualty Company’s Legacy Excess Workers’ Compensation Business

Feb 5, 2021

HAMILTON, Bermuda, Feb. 05, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with Continental Casualty Company (“CNA”) to reinsure a legacy portfolio of excess workers’ compensation business.

In the transaction, CNA ceded net insurance reserves to an Enstar subsidiary of approximately $690 million not inclusive of any roll forward adjustments, relating to 2007 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 NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired over 100 companies and portfolios since its formation in 2001. For further information about Enstar, see www.enstargroup.com.

Contact: Enstar Communications
Telephone: +1 (441) 292-3645


Primary Logo

Source: Enstar Group Limited

QUICK STATS

$21.2bn

Assets
Sept 30, 2020

$15.6bn

Liabilities
Sept 30, 2020

$5.8bn

Shareholders’ equity
Sept 30, 2020

100+

Total acquisitive transactions since formation