Enstar Group - ESGR STOCK NEWS

Enstar Group Limited (Nasdaq: ESGR) announced the pricing of $350 million in 5.750% Fixed-Rate Reset Junior Subordinated Notes due 2040. The offering is set to close on August 26, 2020, pending usual closing conditions. Proceeds will be used to repay existing borrowings under Enstar's term loan facility. The notes are guaranteed on a junior subordinated basis by Enstar and are being offered under a previously filed registration statement with the SEC. The company is recognized for innovative capital release solutions and has completed over 100 acquisitions since its inception in 2001.

Enstar Group Limited (NASDAQ: ESGR) announced an exchange agreement with Trident V, L.P. for increased ownership in StarStone U.S. Holdings, Inc., pending regulatory approvals. This transaction follows a recapitalization plan for StarStone U.S., aiming to boost equity capitalization to over $850 million, which includes appointing a new management team. Post-transaction, Enstar will own approximately 26% of StarStone U.S. The Trident V Funds will enhance their stake in Atrium Underwriting Group Limited from 36% to 80%, while Enstar's ownership will reduce from 54% to 11%. Enstar retains a board seat at Northshore Holdings.

Enstar Group Limited (Nasdaq: ESGR) reported strong financial results for the three and six months ended June 30, 2020. The company achieved consolidated net earnings of $798.6 million ($36.65 per diluted share) for Q2 2020, a significant increase from $231.8 million in Q2 2019. For the first half of 2020, net earnings were $281.7 million ($12.93 per diluted share). Key drivers included net realized and unrealized gains of $967.6 million for Q2 2020. Non-GAAP operating income also rose markedly, reaching $567.6 million for Q2 2020 compared to $109.7 million in Q2 2019.

Enstar Group Limited (Nasdaq: ESGR) announced cash dividends for its Series D and Series E preference shares. Each share will pay $0.43750 per depositary share, corresponding to a 7.00% fixed-to-floating rate and 7.00% perpetual non-cumulative rate, respectively. The dividends are payable on September 1, 2020, to shareholders of record on August 15, 2020. Enstar specializes in innovative capital release solutions and has completed over 100 legacy acquisitions since 2001, indicating a strong market position and commitment to shareholder returns.

Enstar Group Limited (NASDAQ: ESGR) announced the completion of a significant transaction involving its subsidiary, which acquired portfolios from Great Lakes Insurance SE and HSB Engineering Insurance Limited. This deal involved total assets of approximately AUD$228.2 million (around $156.2 million), centered around long-tail insurance business and necessitated regulatory and court approvals in Australia. Enstar is recognized for its expertise in legacy acquisitions and has successfully completed over 100 such transactions since its inception in 2001.

Enstar Group Limited (NASDAQ:ESGR) announced a recapitalization of StarStone U.S. Holdings, Inc., led by SkyKnight Capital, Dragoneer Investment Group, and Aquiline Capital Partners, committing $610 million in new equity capital. This recapitalization will enhance StarStone U.S.'s equity capitalization to over $850 million. Jeff Consolino will assume the role of CEO, with Ed Noonan as Executive Chairman. The new management aims to position StarStone U.S. as a leader in specialty property and casualty insurance, focusing on expanding its market presence in an evolving insurance landscape.

Enstar Group Limited (NASDAQ: ESGR) has successfully concluded an adverse development cover reinsurance transaction with Aspen Insurance Holdings. This deal involved Enstar's subsidiary taking on reinsurance losses up to December 31, 2019, covering various property, liability, and specialty lines across the U.S., U.K., and Europe. The transaction was finalized for a premium of $770 million after obtaining necessary regulatory approvals and meeting other conditions.

Enstar Group Limited (Nasdaq: ESGR) reported significant losses for Q1 2020, experiencing a net loss of $516.8 million, equating to a loss of $23.98 per diluted share, compared to a net profit of $358.8 million in Q1 2019. The losses were primarily driven by $612.6 million in unrealized investment losses linked to the COVID-19 pandemic, although $423.2 million of these losses reversed by the end of April. The company's ordinary shareholders' equity decreased to $3.77 billion from $4.33 billion at year-end 2019, demonstrating a substantial impact from market disruptions.

Enstar Group Limited (Nasdaq: ESGR) has announced cash dividends on its Series D and Series E preference shares, each set at $0.43750 per depositary share. The dividends will be payable on June 1, 2020, to shareholders on record as of May 15, 2020. Enstar is a leader in providing capital release solutions and has acquired around 100 companies and portfolios since its inception in 2001. The company continues to navigate challenges posed by the COVID-19 pandemic, which may affect its future performance.