Enstar Group Limited Announces Reinsurance of $690 Million of Continental Casualty Company’s Legacy Excess Workers’ Compensation Business
Dec 30, 2020
In the transaction, Enstar’s subsidiary will assume net insurance reserves of approximately
The closing of the transaction is subject to regulatory approval and other closing conditions.
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. In particular, Enstar may not be able to complete the proposed transaction on the terms summarized above or other acceptable terms, or at all, due to a number of factors, including but not limited to the failure to obtain regulatory approvals or to satisfy other closing conditions. In addition, the evolving COVID-19 pandemic has caused significant economic and financial turmoil globally, as well as uncertainty and volatility in the financial markets. Due to the global uncertainty, we are unable to predict the longer-term effects of the pandemic on our business at this time. 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