Reinsurance News
14th June 2019
Bermuda based re/insurance, run-off and legacy transaction specialist Enstar Group has announced the appointment of Myron Hendry to its Board as a class II Director, effective July 1. Hendry's appointment was recommended to the Board by Enstar’s Nominating and Governance Committee, which is comprised entirely of independent directors. Hendry most recently served ... Read the full article
17th April 2019
A subsidiary of Bermuda-based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has signed an agreement with a subsidiary of global insurer Zurich that will see it reinsure a book of US asbestos and environmental liability insurance portfolios. Roughly $500 million of gross insurance reserves related to 1986 and prior ... Read the full article
9th April 2019
Global specialty insurer StarStone has made a series of leadership changes which includes the appointment of Ed Noonan as Group Chairman. Dick Sanford joins as President of the Group while Chris Rash has been promoted to Chief Executive Officer of StarStone International and Deputy Group CEO. Noonan brings over 30 years’ ... Read the full article
4th March 2019
Enstar Group Limited and Maiden Holdings have entered into a new adverse development cover (ADC) reinsurance agreement that will replace the previous loss portfolio transfer (LPT) deal relating to Maiden Re’s quota share of AmTrust Financial Services. The arrangement will see an Enstar subsidiary cover Maiden Re’s quota share reinsurance contracts ... Read the full article
15th February 2019
Enstar Group Limited has announced that its Lloyd's of London managing agency, Syndicate 2008, has completed four reinsurance-to-close transactions for the 2016 and prior years of accounts of Syndicates 1206, 1861, 2526, and 5820, which are managed by AmTrust Syndicates Limited. According to an announcement, these transactions were completed on February ... Read the full article
28th December 2018
Bermuda based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has announced that it has completed its acquisition of Maiden Re North America from a subsidiary of Maiden Holdings. The net consideration paid in the transactions was $272.4 million, which represents the adjusted purchase price less the ceding commission. Domiciled in ... Read the full article
12th December 2018
Enhanzed Reinsurance Ltd. (Enhanzed Re) is a new joint-venture life and P&C reinsurer that is being launched by a partnership formed by Enstar, Allianz and investor Hillhouse Capital. Bermuda-based insurance, reinsurance and run-off specialist Enstar Group has invested in newly established Bermuda-based Class 4 and Class E reinsurer Enhanzed Reinsurance Ltd. ... Read the full article
7th December 2018
Bermuda-based insurance, reinsurance and run-off specialist Enstar has closed a $200 million investment in Evergreen Parent L.P., which acquired 100% of AmTrust Financial Services, Inc. in a go-private deal last week. Enstar said that it now collectively owns around 7.4% of the capital units of Evergreen, which is an entity ... Read the full article
12th November 2018
Bermuda-based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has signed an agreement that will see a subsidiary assume loss reserves of approximately $2.675 billion associated with Maiden Re’s quota share reinsurance contracts with AmTrust Financial Services and its subsidiaries. The retrocession will apply to losses arising and/or claims made ... Read the full article
17th October 2018
Global specialty insurer StarStone has announced the appointment of John Hendrickson as its new Group Chief Executive Officer (CEO), effective immediately. Hendrickson replaces Demian Smith, who resigned from the company in September of this year after eight years with the firm. Hendrickson brings more than 35 years of industry experience to the ... Read the full article
19th September 2018
Enstar has announced that it is “no longer assessing market interest” regarding the potential sale of its active underwriting businesses, Atrium and StarStone. The insurance, reinsurance and run-off specialist revealed in June said that it had, alongside fellow investor Stone Point Capital LLC, engaged an investment bank to assess interest ... Read the full article
5th September 2018
As part of its $307.5 million acquisition of Maiden Re North America, which was announced last week, Enstar Group Limited will enter into a reinsurance agreement with Maiden Re via Enstar’s subsidiary, Cavello Bay Reinsurance Limited. The transaction will see Cavello and Maiden Re enter into a novation agreement and ... Read the full article
31st August 2018
Bermuda based insurance, reinsurance, run-off and legacy transaction specialist Enstar Group Limited has announced that it has entered into an agreement to acquire Maiden Re North America from a subsidiary of Maiden Holdings for a total consideration of $307.5 million. Domiciled in Missouri, Maiden Re North America is a diversified insurance ... Read the full article
22nd August 2018
Bermuda based insurance, reinsurance, run-off and legacy transaction specialist Enstar Group Limited has boosted its acquisition war chest with the signing of a new credit facility that can provide up to $1 billion of capital. The arrangement sees Enstar Group and certain subsidiaries enter into a five year unsecured $600 million ... Read the full article
25th July 2018
Bermuda-based insurance, reinsurance and run-off specialist Enstar and private equity firm Madison Dearborn Partners are to fund a $350 million portion of the AmTrust Financial Services take-private transaction. Under the terms of the agreement, each of MDP and Enstar will participate in a portion of the previously-disclosed take-private purchase of approximately ... Read the full article
