Enstar Completes the Reinsurance of $690 Million of Continental Casualty Company’s Legacy Excess Workers’ Compensation Bu...
February 05 2021 - 5:15PM
Enstar Group Limited (NASDAQ: ESGR) announced today that one of its
wholly owned subsidiaries has completed a transaction with
Continental Casualty Company (“CNA”) to reinsure a legacy portfolio
of excess workers’ compensation business.
In the transaction, CNA ceded net insurance
reserves to an Enstar subsidiary of approximately $690 million not
inclusive of any roll forward adjustments, relating to 2007 and
prior year business.
Completion of the transaction followed receipt
of regulatory approvals and satisfaction of various other closing
conditions.
About EnstarEnstar is a
NASDAQ-listed leading global insurance group that offers innovative
capital release solutions through its network of group companies in
Bermuda, the United States, the United Kingdom, Continental Europe,
Australia, and other international locations. A market leader in
completing legacy acquisitions, Enstar has acquired over 100
companies and portfolios since its formation in 2001. For further
information about Enstar, see www.enstargroup.com.
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Contact: |
Enstar Communications |
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Telephone: |
+1 (441) 292-3645 |
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