Enstar Completes ADC Transaction With Aspen
June 01 2020 - 5:15PM
Enstar Group Limited (NASDAQ: ESGR) announced today that one of its
wholly owned subsidiaries has completed an adverse development
cover reinsurance transaction with Aspen Insurance Holdings
Limited.
In the transaction, Enstar’s subsidiary assumed reinsurance
losses incurred on or prior to December 31, 2019 on a diversified
mix of property, liability and specialty lines across the U.S.,
U.K. and Europe for a premium of $770 million.
Completion of the transaction followed receipt
of regulatory approvals and satisfaction of various other closing
conditions.
About Enstar
Enstar is a multi-faceted insurance group that offers innovative
capital release solutions and specialty underwriting capabilities
through its network of group 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 100 companies
and portfolios since its formation in 2001. Enstar’s active
underwriting businesses include the StarStone group of companies,
an A- rated global specialty insurance group with multiple global
underwriting platforms, and the Atrium group of companies, which
manage and underwrite specialist insurance and reinsurance business
for Lloyd’s Syndicate 609. For further information about Enstar,
see www.enstargroup.com.
Contact: Enstar
Communications |
Telephone: +1 (441) 292-3645 |
Enstar (NASDAQ:ESGR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Enstar (NASDAQ:ESGR)
Historical Stock Chart
From Apr 2023 to Apr 2024