Welcome to our dedicated page for Enstar Group news (Ticker: ESGR), a resource for investors and traders seeking the latest updates and insights on Enstar Group stock.
This page archives news coverage for Enstar Group Limited (ESGR), a former Bermuda-based insurance group that specialized in acquiring and managing run-off insurance portfolios. Enstar was acquired by Sixth Street and no longer operates as an independent publicly traded company.
Browse historical news to understand Enstar's business developments, acquisition announcements, and financial updates during its time as a NASDAQ-listed company. The archive includes coverage of the company's insurance portfolio acquisitions, Lloyd's of London syndicate activities through Atrium, and the corporate events leading up to its transition to private ownership.
Enstar's news history reflects its role as a significant participant in the global insurance legacy market. The company regularly announced acquisitions of run-off portfolios from major insurers, quarterly preference share dividends, and developments in its specialty underwriting operations. This archive provides context for investors and researchers interested in the insurance run-off sector.
The news archive documents Enstar's final period as a public company, including the announcement of its acquisition by Sixth Street and subsequent delisting from NASDAQ. These records offer insight into the transaction timeline and the circumstances surrounding the company's transition from public to private ownership.
Enstar Group announced the payment of cash dividends on its Series D and Series E preference shares. The dividends for both series will be $0.43750 per depositary share and will be payable on June 3, 2024, to shareholders of record on May 15, 2024.
Enstar Group reported net income of $119 million for the first quarter of 2024, with a return on equity of 2.4%. The company saw growth in book value per ordinary share by 1.7% to $349.41. Enstar also announced a $400 million Loss Portfolio Transaction with SiriusPoint and received a financial strength rating of 'A' for its subsidiary, Cavello Bay Reinsurance The company's CEO highlighted positive investment results and successful business transactions.
Enstar Group (NASDAQ: ESGR) has agreed to a $400 million loss portfolio transfer with SiriusPoint to reinsure a Workers’ Compensation business portfolio. The reinsurance agreement involves SiriusPoint ceding net reserves of $400 million, while Enstar’s subsidiary will provide $200 million of cover in excess of the ceded reserves. The transaction, facilitated by Guy Carpenter, is subject to regulatory approvals. Enstar's CEO, Dominic Silvester, sees the partnership as a strategic move in the US Workers’ Compensation sector.
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