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
- 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
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- 4/26/24 - Form DEF
- ESGR's page on the SEC website