Reinsurance News
Enstar
Enstar’s Maiden Re acquisition to include reinsurance arrangement
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
Enstar to acquire Maiden Re North America for $307.5mn
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
Enstar boosts acquisition war chest with enlarged $1bn credit facility
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
Enstar & Madison Dearborn fund $350m slice of $2.5b AmTrust take-private deal
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
Enstar considering Atrium and StarStone sale
18th June 2018
Bermuda based insurance, reinsurance and run-off specialist Enstar Group Limited has retained investment bankers to explore a potential sale of its active underwriting businesses. In a move clearly designed to test the market's appetite for another pricey M&A deal, Enstar said that recent transactions led to the decision to find out ... Read the full article
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
