Enstar Completes Loss Portfolio Transfer With RACQ
Enstar Group Limited - Ordinary Shares (ESGR)
US:NASDAQ Investor Relations:
enstargroup.com/investor-relations
Company Research
Source: GlobeNewswire
HAMILTON, Bermuda, June 02, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has closed a previously announced Loss Portfolio Transfer agreement with RACQ Insurance Limited (“RACQ”) to reinsure 80% of RACQ’s motor vehicle compulsory third party insurance liabilities, covering accident years 2021 and prior. Under the reinsurance agreement, which is effective as of July 1, 2022, RACQ will cede net reserves of approximately AUD$ 360 million (USD$ 235 million), and Enstar’s subsidiary will provide approximately AUD$ 200 million (USD$ 130 million) of cover in excess of the ceded reserves. The amount of net loss reserves ceded, as well as the settlement and limit amounts provided in the agreement, will be adjusted for claims paid between the effective date and the closing date of the transaction, pursuant to the terms of the contract. Completion of the transaction followed receipt of regulatory approvals and satisfact
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News
- Enstar Subsidiary Assigned ‘A’ Financial Strength Rating by S&P GlobalGlobeNewswire
- Enstar Group Limited (NASDAQ: ESGR) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Enstar Group Limited (NASDAQ:ESGR) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Enstar Group Ltd Reports Stellar Annual Performance with Net Income Surging to $1.1 Billion [Yahoo! Finance]Yahoo! Finance
- Enstar Group Limited (NASDAQ: ESGR) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
ESGR
Sec Filings
- 4/10/24 - Form 8-K
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- ESGR's page on the SEC website