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Enstar

Enstar to reinsure $350m third-party motor portfolio for Zurich Australia

23rd February 2018

Enstar Group Limited has announced an agreement to reinsure Zurich Insurance Group’s New South Wales Motor Vehicle Compulsory Third Party (CTP) insurance business. A wholly-owned subsidiary of the Bermuda insurance group will assume AUD$350 million of gross reinsurance reserves relating to the CTP insurance business as of January 1, 2018. Enstar’s Chief ... Read the full article

Enstar finalises reinsurance-to-close of Neon legacy liabilities

19th February 2018

Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced the completion of a previously disclosed reinsurance-to-close transaction between its Lloyd's managing agency, StarStone Underwriting, and Neon Underwriting for Enstar’s Syndicate 2008. The transaction will see Enstar assume the liabilities of Neon’s Syndicate 2468, amounting to net reinsurance reserves ... Read the full article

Enstar agrees to acquire full ownership of KaylaRe

5th February 2018

Enstar Group Limited has announced that it has agreed to acquire a further 52% stake in KaylaRe Holdings Ltd., meaning that it now holds 100% ownership of the entity, which it founded in 2016 alongside funds managed by Hillhouse Capital Management, Ltd., and the Trident V funds managed by Stone Point ... Read the full article

Enstar to reinsure £840mn portfolio of Novae Legacy business

29th January 2018

Enstar Group Limited's Lloyd's managing agency, StarStone Underwriting Limited, has completed a reinsurance-to-close deal with AXIS Managing Agency Limited, which sees Enstar's Syndicate 2008 reinsure to close the 2015 and prior underwriting years of account of Novae Syndicate 2007. Under the terms of the reinsurance-to-close transaction, Enstar will assume net reinsurance reserves of roughly £600 million ... Read the full article

Enstar completes sale of Pavonia Life business

2nd January 2018

Enstar Group Limited has announced that it has now completed the sale of its subsidiary, Pavonia Holdings (US), Inc., to an affiliate of Global Bankers Insurance Group, LLC. Enstar has completed the previously announced transaction for a total purchase price of $120 million, and is a good example of Enstar capitalising on its ability ... Read the full article

Enstar to reinsure $100 million of Allianz legacy business

29th December 2017

An Enstar Group subsidiary has entered into an agreement to reinsure about $100 million, or 50%, of Allianz SE's legacy business portfolio with effect from December 31, 2017. The subsidiary will assume net reinsurance reserves of approximately $0.1 billion in order to reinsure 50% of certain U.S. workers' compensation and asbestos, ... Read the full article

Reinsurance-to-close provides a clean break for Neon

22nd December 2017

The recently announced reinsurance-to-close transaction that Neon Underwriting has entered into with Enstar Group's StarStone, provides a clean break for the insurer, giving finality on legacy Marketform business. The arrangement, which we covered here, saw Enstar’s Syndicate 2008 enter into a reinsurance-to-close transaction to assume liabilities as at the 2015 ... Read the full article

Enstar completes reinsurance to close of Neon syndicate liabilities

21st December 2017

Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced the completion of a reinsurance-to-close transaction that sees it assume liabilities from re/insurer Neon Underwriting's syndicate at Lloyd's. Enstar's Lloyd’s of London managing agency, StarStone Underwriting Limited, agreed with Neon that Enstar’s Syndicate 2008 would enter into the reinsurance-to-close transaction, ... Read the full article

Guy Bowker to replace Mark Smith as Enstar CFO from Jan 1st, 2018

25th May 2017

Bermuda domiciled insurance and reinsurance group, Enstar Group Limited, has revealed that Guy Bowker will take over as Chief Financial Officer (CFO) after Mark Smith steps down at the end of 2017 to move into a consulting role for the firm. Currently Chief Accounting Officer (CAO) and Deputy CFO, Bowker joined the firm ... Read the full article

StarStone hires new Global Head of Accident & Health

3rd May 2017

Enstar Group's international specialty insurer, StarStone, recently announced the appointment of Jeff Herman as its Global Head of Accident & Health, effective immediately. Herman brings over three decades of industry experience to the role, and will report to U.S. Chief Executive Officer (CEO) Norman Brown, and Group Chief Underwriting Officer (CUO), ... Read the full article

Enstar appoints new executive to Board of Directors

2nd March 2017

Insurer Enstar has announced the appointment of Jie Liu to its Board of Directors. Dominic Silvester, Enstar’s Chief Executive Officer (CEO), welcomed Liu to his new role; "We have worked alongside Jie in recent months as Hillhouse became a significant shareholder in Enstar and a strategic partner in KaylaRe. "In addition to ... Read the full article

Enstar to sell Pavonia Life to Global Bankers Insurance Group for $120m

20th February 2017

Bermuda based insurance, reinsurance and run-off specialist Enstar Group has announced a $120m agreement to sell its Pavonia Holdings (US), Inc. subsidiary to an affiliate of Global Bankers Insurance Group for $120 million. Enstar originally acquired the Pavonia business, which includes Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of ... Read the full article

Enstar in £957m legacy UK employers’ liability reinsurance deal with RSA

8th February 2017

A subsidiary of Bermuda based insurance, reinsurance and run-off specialist Enstar Group has entered into a reinsurance agreement with RSA Insurance Group PLC to reinsure £957 million of its legacy UK employers’ liability business. The legacy reinsurance deal will see Enstar's subsidiary assuming £957 million (approximately $1.2 billion) of RSA's gross ... Read the full article

Enstar completes reinsurance of QBE’s legacy business

12th January 2017

Bermuda-based legacy and run-off insurance and reinsurance specialist Enstar Group has closed on its previously announced transaction that sees it reinsure a legacy book for QBE Insurance Group Limited. The deal saw Enstar reinsure the legacy multi-line property and casualty business of QBE, enabling the insurer to achieve finality on those ... Read the full article

Enstar in $91.5m legacy asbestos & environmental liability acquisition

2nd January 2017

Bermuda based insurance, reinsurance and run-off specialist Enstar Group has made a $91.5 million acquisition of Dana Companies, LLC for its legacy asbestos and environmental liabilities. Dana Companies was part of Dana Incorporated, a world leading supplier of highly engineered drivetrain, sealing, and thermal-management technologies for vehicles. As a result of its ... Read the full article

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