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Stock impact report

Enstar Completes Loss Portfolio Transfer With QBE

Enstar Group Limited - Ordinary Shares (ESGR) 
US:NASDAQ Investor Relations: enstargroup.com/investor-relations
Company Research Source: GlobeNewswire
HAMILTON, Bermuda, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has closed a previously announced ground-up loss portfolio transfer transaction with subsidiaries of QBE Insurance Group Limited (“QBE”) to reinsure a portfolio of US commercial liability and workers’ compensation business, largely underwritten on recently discontinued programs. Under the reinsurance agreement, QBE ceded net reserves of approximately $376 million, and Enstar’s subsidiary provided approximately $175 million of cover in excess of the ceded reserves. Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditio Read more
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