Enstar Agrees ADC Agreement with James River
Enstar Group Limited - Ordinary Shares (ESGR)
US:NASDAQ Investor Relations:
enstargroup.com/investor-relations
Company Research
Source: GlobeNewswire
HAMILTON, Bermuda, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today that one of its wholly-owned subsidiaries has entered into an adverse development cover (“ADC”) reinsurance agreement with certain subsidiaries of James River Group Holdings, Ltd. (“James River”). Under the terms of the agreement, Enstar’s subsidiary will provide $75 million of limit in excess of the existing $160 million ADC reinsurance coverage provided to such subsidiaries of James River by State National Insurance Company, Inc. earlier this year. The transaction will provide further protection against future adverse reserve development for certain U.S. casualty exposures within James River’s Excess & Surplus (“E&S”) Lines segment for accident years 2010 to 2023. Enstar’s subsidiary will also make a $12.5 million investment in James River common stock. Completion of the transaction is subject to regulatory approval and satisfaction of other customary closing condi
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ESGR
Sec Filings
- 11/13/24 - Form 13F-HR
- 11/12/24 - Form 10-Q
- 11/12/24 - Form 8-K
- ESGR's page on the SEC website