Enstar Acquires Bermuda Reinsurer in its Second Property ILS Transaction
Enstar Group Limited - Ordinary Shares (ESGR)
US:NASDAQ Investor Relations:
enstargroup.com/investor-relations
Company Research
Source: GlobeNewswire
HAMILTON, Bermuda, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (Nasdaq: ESGR) today announced that its wholly-owned subsidiary, Cavello Bay Reinsurance Limited (“Cavello Bay”), has acquired a Bermuda-domiciled Class 3B insurer and segregated accounts company (the “Reinsurer”). The Reinsurer underwrote property reinsurance business between 2020 and 2023 on behalf of third-party investors, assuming the risk through retrocession agreements with a fronting carrier. The Reinsurer had $66 million of shareholders’ equity at the end of July 2024. The Reinsurer will be merged into Cavello Bay and a consolidated and amended retrocession agreement between the fronting carrier and Cavello Bay will become effective. Dominic Silvester, Chief Executive Officer of Enstar, said: "This acquisition is our second transaction in the property ILS space in recent months, which we see as a growth market for legacy solutions. The deal structure eliminates collateral requirements, demonstrating
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News
- AXIS Advances Transition to Specialty Underwriter, Announces Loss Portfolio Transfer Reinsurance Agreement With Enstar on Reinsurance Segment ReservesGlobeNewswire
- Enstar Group Limited (NASDAQ: ESGR) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Enstar Group Limited (NASDAQ: ESGR) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Enstar Group Limited (NASDAQ: ESGR) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Enstar Group Limited (NASDAQ: ESGR) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
ESGR
Sec Filings
- 12/20/24 - Form 4
- 12/19/24 - Form 4
- 12/18/24 - Form 4
- ESGR's page on the SEC website