Legacy acquirer Enstar Group Limited has reported that its consolidated net earnings amounted to $615.0 million in the third quarter of 2020.
This represents a major jump up from last year, when the company reported earnings of $117.7 million for the third quarter period.
Looking at the first nine months of the year, Enstar’s earnings similarly climbed from $708.3 million last year to $896.7 million.
The firm mainly attributed the increase to net realized and unrealized gains of $500.0 million in Q3, including $432.7 million relating to other investments and equities and $67.3 million relating to fixed income securities.
For 9M, Enstar reported et realized and unrealized gains of $838.6 million, including $631.5 million relating to other investments and equities and $207.1 million relating to fixed income securities.
Non-GAAP operating income came to $574.4 million and $804.2 million for Q3 and 9M 2020, respectively.
For the same periods in 2019, Enstar recorded non-GAAP operating income of $32.7 million and $341.2 million.
Enstar’s ordinary shareholders’ equity at September 30, 2020 amounted to $5,310.9 million, compared to $4,332.2 million at December 31, 2019.
