ENSTAR ANNOUNCES REINSURANCE OF $465 MILLION OF LYFT’S LEGACY RESERVES
Enstar Group Limited - Ordinary Shares (ESGR)
US:NASDAQ Investor Relations:
enstargroup.com/investor-relations
Company Research
Source: GlobeNewswire
HAMILTON, Bermuda, March 31, 2020 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned U.S. subsidiaries has entered into a novation agreement with affiliates of Lyft, Inc. (“Lyft”) and certain underwriting companies of Zurich North America (“Zurich”). Enstar will reinsure legacy automobile business underwritten by Zurich between October 1, 2015 and September 30, 2018 and reinsured by Lyft’s wholly owned subsidiary, Pacific Valley Insurance Company ("PVIC") for consideration of $465 million. Under a separate agreement, PVIC will provide retrocession coverage to Enstar in excess of a $816 million limit. The transaction, which has a March 31, 2020 effective date, is expected to be completed in early April, subject to various closing conditions. About Enstar Enstar is a multi-faceted insurance group that offers innovative capital release solutions and specialty underwriting capabilities through its network of group companies in Bermuda
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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