Enstar Completes Transaction With ProSight
Aug 4, 2021
The reinsurance comprises a ground up loss portfolio transfer of ProSight’s discontinued workers’ compensation and excess workers’ compensation lines of business and an adverse development cover on ProSight’s diversified mix of general liability classes of business.
In the transaction, Enstar’s subsidiary assumed net loss reserves of approximately
Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions, including the simultaneous closing of ProSight’s merger with affiliates of investment management firm TowerBrook and private equity firm Further Global.
Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in
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
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Source: Enstar Group Limited