Enstar Group Limited Reports First Quarter Results
May 9, 2014
HAMILTON, Bermuda, May 9, 2014 (GLOBE NEWSWIRE) -- Enstar Group Limited (Nasdaq:ESGR) filed its quarterly report on Form 10-Q with the SEC earlier today, reporting its earnings and financial position for the three months ended March 31, 2014.
Enstar reported consolidated net earnings of $29.6 million (or $1.77 per fully diluted share) for the three months ended March 31, 2014 compared to $12.0 million (or $0.72 per fully diluted share) for the three months ended March 31, 2013.
Enstar's shareholders' equity at March 31, 2014 amounted to $1,786.6 million (or $106.94 per fully diluted share), as compared to $1,755.5 million (or $105.20 per fully diluted share) at December 31, 2013. The Form 10-Q, which is available on Enstar's website, www.enstargroup.com, contains a more detailed description of Enstar's business and financial results.
Enstar is a Bermuda company with a core focus of acquiring and managing insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off, and providing management, consultancy and other services to the insurance and reinsurance industry. Enstar recently expanded into the active underwriting business with its 2013 acquisitions of Atrium Underwriting Group Ltd. and Arden Reinsurance Company Ltd. and its April 2014 acquisition of Torus Insurance Holdings Limited. For further information about Enstar, see www.enstargroup.com.
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 may be found under the heading "Risk Factors" in Enstar's Form 10-K for the year ended December 31, 2013, 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: Richard J. Harris Telephone: (441) 292-3645