Reinsurance News
Enstar
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
Enstar changes management structure in wake of KaylaRe launch
16th December 2016
Enstar Group Limited recently announced the launch of KaylaRe Ltd., a total return strategy, Bermuda-based, Class 4 reinsurance firm with a global specialty focus and capitalised to the tune of $620 million. Enstar has launched KaylaRe with the assistance of $25 billion Chinese investment management group Hillhouse Capital Management, Ltd, with ... Read the full article
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