Enstar Group

Enstar Group Ltd. is a holding company, which engages in the acquisition and management of insurance and reinsurance companies. It operates through the following segments: Run-off, Enhanced RE, Investments, and Legacy Underwriting. The Run-off segment is consisted of acquired property and other insurance business. The Enhanced Re is comprised of life and catastrophe business via acquisition of the controlling interest in Enhanzed Reinsurance Ltd.. The Investments segment encompasses investment activities and the performance of the investment portfolio of the company. The Legacy Underwriting segment is made up of businesses that the company has exited via the sale of the majority interest. The company was founded by Paul James O'Shea, Nicholas Andrew Packer, and Dominic Francis Michael Silvester in August 2001 and is headquartered in Hamilton, Bermuda.

Earnings data Q4 2020

Earnings data Q1 2021

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Enstar Group reports strong Q4 results and strategic acquisitions

Enstar Group delivered strong Q4 results and highlighted their claims management function and strategic acquisitions.
Despite challenges like net losses and reserve strengthening, Enstar remains confident in their market position and growth prospects.
The company's focus on transparency, data-driven decisions, and disciplined risk selection sets the stage for future success in the legacy market.

Enstar Group reports robust Q1 earnings and strategic growth initiatives

Enstar Group's Q1 2023 earnings call highlighted a remarkable financial turnaround, strong investment performance, and strategic transactions. The company's focus on long-term value creation, solid capital position, and proactive management approach position it well for future growth. Despite macro challenges, Enstar remains resilient and committed to delivering shareholder value.

Enstar Group excels in Q2 2023, secures credit rating upgrade

Enstar Group demonstrated robust financial performance in Q2 2023, marked by strong net investment income and positive investment results.
Despite facing challenges such as losses on the fixed income portfolio, the company's proactive risk management and strategic transactions highlight its resilience.
With an upgraded credit rating, Enstar is well-positioned to capitalize on growth opportunities and drive further value for shareholders.

Enstar Group reports solid Q3 earnings and strategic growth moves

Enstar Group's Q3 performance reflects solid net earnings and a focus on enhancing shareholder value through strategic initiatives.
Despite challenges from new accounting standards and low return on equity, the company's strong capital position and commitment to disciplined strategies bode well for the future.
Opportunities lie in strategic partnerships, capital release solutions, and proactive adaptation to regulatory changes for sustained growth and profitability.

Enstar Group reports robust earnings, eyes growth amid market challenges

Enstar Group's Q4 2023 earnings call highlighted strong financial performance, balance sheet strength, and successful transactions with key partners.
The company's focus on sustainable growth, robust risk management, and capital position positions it well for future opportunities.
While challenges like unrealized losses exist, Enstar's strategic initiatives and market confidence bode well for continued success.

Enstar Group reports solid Q1 earnings, eyes growth opportunities

Enstar Group's Q1 2024 performance reflects steady financial growth, with a focus on enhancing shareholder value through strategic investments and risk management.
Despite challenges in certain liability lines, the company's strong capital reserves and industry recognition position it well for future opportunities and sustained profitability.
Enstar's commitment to financial stability, operational excellence, and growth presents avenues for further expansion and value creation in the competitive reinsurance market.
By leveraging its strengths in underwriting expertise and investment management, Enstar can navigate challenges, capitalize on opportunities, and drive sustainable growth in the long term.

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HAMILTON, Bermuda, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it has commenced a cash tender offer (the “Tender Offer”) for any and all of its outstanding 4.500% Senior Notes due 2022 (the “Notes”). The table below sets forth additional information with respect to the Notes and the Tender Offer.

Enstar Group Limited Announces Any And All Cash Tender Offer For Senior Notes Due 2022

HAMILTON, Bermuda, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that Zachary Wolf has stepped down from his position as Chief Financial Officer to pursue other opportunities and will remain available for a transition period until September 30, 2021. Orla Gregory, Enstar's current Chief Operating Officer, has been named Acting Chief Financial Officer. Michael Murphy, Enstar's current Chief Accounting Officer, will serve as Deputy Chief Financial Officer.

Enstar Announces Departure of CFO and Appointment of Acting CFO

HAMILTON, Bermuda, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with ProSight Global, Inc. (“ProSight”) to provide reinsurance relating to 2019 and prior year business.

Enstar Completes Transaction With ProSight

HAMILTON, Bermuda, July 27, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has signed an agreement with Royal & Sun Alliance Insurance Limited (“RSA”) to provide adverse development cover for certain UK, Irish and other business of RSA and its subsidiaries, in exchange for premium. RSA is a wholly owned subsidiary of Toronto-based property & casualty insurance company, Intact Financial Corporation.

Enstar Announces ADC Agreement With RSA

HAMILTON, Bermuda, June 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announces today that one of its wholly owned subsidiaries has completed a Loss Portfolio Transfer with Hiscox Ltd (“Hiscox”), pursuant to which Enstar's Syndicate 2008 has reinsured a diversified portfolio of legacy insurance business underwritten by Hiscox Syndicate 3624, including the majority of Hiscox USA's surplus lines broker business.

Enstar Reinsures Hiscox Legacy Portfolio

HAMILTON, Bermuda, May 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with AXA XL, a division of AXA, to provide adverse development cover.

Enstar Completes Transaction With AXA XL

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HAMILTON, Bermuda, March 15, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) (“Enstar”) and Stone Point Capital LLC (“Stone Point”) have today completed the previously announced sale of StarStone Underwriting Limited (“SUL”), the Lloyd's managing agency, and its managed Lloyd's syndicate, 1301, to Inigo Limited (“Inigo”), a new specialty re/insurance holding company.

Enstar Completes Sale of StarStone Lloyd's Managing Agency to Inigo

HAMILTON, Bermuda, March 01, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (Nasdaq: ESGR) filed its annual report on Form 10-K with the SEC earlier today, reporting its earnings and financial position for the year ended December 31, 2020.

Enstar Group Limited Reports 2020 Year-End Results

HAMILTON, Bermuda, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has signed an agreement to provide adverse development cover to AXA XL, a division of AXA.

Enstar Announces ADC Agreement With AXA XL

HAMILTON, Bermuda, Feb. 05, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with Continental Casualty Company (“CNA”) to reinsure a legacy portfolio of excess workers' compensation business.

Enstar Completes the Reinsurance of $690 Million of Continental Casualty Company's Legacy Excess Workers' Compensation Business

HAMILTON, Bermuda, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has entered into an agreement with subsidiaries of ProSight Global, Inc. (“ProSight”) to provide reinsurance relating to 2019 and prior year business.

Enstar Announces Reinsurance Transaction With ProSight

HAMILTON, Bermuda, Dec. 30, 2020 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has signed an agreement with Continental Casualty Company (“CNA”) to reinsure a legacy portfolio of excess workers' compensation business.

Enstar Group Limited Announces Reinsurance of $690 Million of Continental Casualty Company's Legacy Excess Workers' Compensation Business

HAMILTON, Bermuda, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) (“Enstar”) today announced that it has completed the sale and recapitalization of StarStone U.S. Holdings, Inc. (“StarStone U.S.”) through the sale of StarStone U.S to Core Specialty Insurance Holdings, Inc. (“Core Specialty”) in exchange for a combination of cash and approximately 25% of the shares in Core Specialty. Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions.

Enstar Completes Sale and Recapitalization of StarStone U.S.

HAMILTON, Bermuda, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) (“Enstar”) and Stone Point Capital LLC (“Stone Point”) today announced they have signed definitive agreements to sell StarStone Underwriting Limited (“SUL”), the Lloyd's managing agency, together with the right to operate Lloyd's Syndicate 1301, to Inigo Limited (“Inigo”), a new specialty re/insurance holding company.

Enstar to Sell Starstone Lloyd's Managing Agency to Newly Formed Venture Inigo

HAMILTON, Bermuda, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) (“Enstar”) today announced that it has successfully completed the first ever insurance business transfer (“IBT”) to occur in the United States, having received judicial approval from the Oklahoma County District Court. The transaction occurred between two of our subsidiaries, Providence Washington Insurance Company (“PWIC”) and Yosemite Insurance Company (“Yosemite”).

Enstar Completes First Insurance Business Transfer Transaction in the U.S.

A buyout offer provides a lift to the insurance company, but not to the potential acquirer.

Why Watford Holdings Soared, While Enstar Group Flat-Lined on Thursday

HAMILTON, Bermuda, Aug.  19, 2020  (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that its subsidiary, Enstar Finance LLC, priced $350 million aggregate principal amount of 5.750% Fixed-Rate Reset Junior Subordinated Notes due 2040 (the “Notes”), fully and unconditionally guaranteed, on a junior subordinated basis, by Enstar. The offering is expected to close on August 26, 2020, subject to satisfaction of customary closing conditions.

Enstar Group Limited Announces Pricing of $350 Million of 5.750% Fixed-Rate Reset Junior Subordinated Notes Due 2040

HAMILTON, Bermuda, Aug.  14, 2020  (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) (“Enstar”) today announced an exchange agreement with Trident V, L.P. and its affiliated funds (the “Trident V Funds”) managed by Stone Point Capital LLC (“Stone Point”). Subject to regulatory approvals, the transaction will result in Enstar owning a greater share in StarStone U.S. Holdings, Inc. (“StarStone U.S.”) and the Trident V Funds owning a greater share in the holding company for Atrium Underwriting Group Limited (“Atrium”).

Enstar and Stone Point Capital Announce Exchange Transaction Involving Atrium and StarStone U.S.

Enstar Group Limited - 7% PRF PERPETUAL USD 25 - Ser E 1/1000 th Int

Enstar Group Limited - FXDFR PRF PERPETUAL USD 25 - Ser D 1/1000th int

Preferred stocks with BB+ S&P ratings are generally issued by investment grade companies with BBB S&P ratings on their unsecured bonds.

By Far, The 2 Highest-Yield Preferred Stocks With S&P Ratings Of BB+: Enstar Group

HAMILTON, Bermuda, July  01, 2020  (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has completed a transaction with Great Lakes Insurance SE and HSB Engineering Insurance Limited, both subsidiaries of Munich Re, pursuant to which Enstar’s subsidiary has acquired certain portfolios from their Australian branches.

Enstar Completes the Transfer of Certain Run-Off Portfolios From Great Lakes and HSB Engineering Insurance Australian Branches

HAMILTON, Bermuda, June  10, 2020  (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ:ESGR) ("Enstar") announced today that it has agreed to a recapitalization of StarStone U.S. Holdings, Inc. (“StarStone U.S.” or the “Company”) led by SkyKnight Capital, L.P. (“SkyKnight”), Dragoneer Investment Group (“Dragoneer”) and Aquiline Capital Partners LLC (“Aquiline,” and together with SkyKnight and Dragoneer, the “Investors”). The Investors have committed $610 million in new equity capital which, together with the rollover of Enstar’s existing ownership, and an additional equity commitment of over $20 million from management, will increase the equity capitalization of StarStone U.S. to over $850 million. Enstar will receive a combination of cash consideration and shares in the recapitalized StarStone U.S, valued at a modest premium to book value.

Enstar Announces Recapitalization of StarStone U.S. with New Leadership and Significant Investment led by SkyKnight Capital, Dragoneer Investment Group and Aquiline Capital Partners

HAMILTON, Bermuda, June  01, 2020  (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed an adverse development cover reinsurance transaction with Aspen Insurance Holdings Limited.

Enstar Completes ADC Transaction With Aspen

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.

ENSTAR ANNOUNCES REINSURANCE OF $465 MILLION  OF LYFT’S LEGACY RESERVES

HAMILTON, Bermuda, March  02, 2020  (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has entered into an adverse development cover reinsurance agreement with Aspen Insurance Holdings Limited. In the transaction, Enstar’s subsidiary will reinsure losses incurred on or prior to December 31, 2019 on a diversified mix of property, liability and specialty lines across the U.S., U.K and Europe for a premium of $770 million.  Enstar will provide $770 million of cover in excess of a $3.805 billion retention, and an additional $250 million of cover in excess above $4.815 billion. 

News for Enstar Group Stock (ESGR)