Enstar Group Limited Reports Third Quarter Results
November 09 2015 - 7:21AM
HAMILTON, Bermuda, Nov. 09, 2015
(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 and nine months
ended September 30, 2015.
Enstar reported consolidated net
earnings of $49.0 million (or $2.53 per fully diluted share) for
the three months ended September 30, 2015 and $108.4 million (or
$5.59 per fully diluted share) for the nine months ended September
30, 2015, compared to $26.4 million (or $1.37 per fully diluted
share) for the three months ended September 30, 2014 and $107.8
million (or $5.84 per fully diluted share) for the nine months
ended September 30, 2014.
Enstar's shareholders' equity at
September 30, 2015 amounted to $2,438.1 million (or $125.69 per
fully diluted share), as compared to $2,304.9 million (or $119.22
per fully diluted share) at December 31, 2014. 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 Group Limited and its
operating subsidiaries acquire and manage diversified insurance
businesses through a network of service 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 70
companies and portfolios since its formation in 2001.
Enstar's active underwriting businesses include the Atrium group of
companies, which manage and underwrite specialist insurance and
reinsurance business for Lloyd's Syndicate 609, and the StarStone
group of companies, an A- rated global specialty insurance group
with multiple global underwriting platforms. 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, 2014 and Form 10-Q for the quarterly
period ended June 30, 2015, 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: (441) 292-3645
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Enstar Group Limited via Globenewswire
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