AXIS Completes Previously Announced Transaction With Enstar PEMBROKE, Bermuda, April 24, 2025 (GLOBE NEWSWIRE) -- AXIS Capital Holdings Limited (“AXIS Capital” or “AXIS” or the “Company”) (NYSE: AXS) and Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today that they have completed a loss portfolio transfer (“LPT”) transaction, covering reinsurance segment reserves predominantly attributable to casualty portfolios related to 2021 and prior underwriting years. The LPT reinsurance agreement covers reinsurance segment reserves totalling $3.1 billion at September 30, 2024, and is st...
Enstar Group Limited Announces Expiration and Results of Cash Tender Offer For Junior Subordinated Notes Due 2040 HAMILTON, Bermuda, March 17, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced the expiration and final results of its previously announced cash tender offer (the “Tender Offer”) for any and all of the outstanding 5.750% Fixed-Rate Reset Junior Subordinated Notes due 2040 issued by Enstar’s wholly owned subsidiary, Enstar Finance LLC, that Enstar guarantees on a junior subordinated basis (the “Notes”). The Tender Offer expired at 5:...
Enstar Group Limited Announces Pricing of $350 Million of 7.500% Fixed-Rate Reset Junior Subordinated Notes Due 2045 HAMILTON, Bermuda, March 12, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced the pricing of $350 million aggregate principal amount of its 7.500% Fixed-Rate Reset Junior Subordinated Notes due 2045 (the “Notes”). The offering is expected to close on March 18, 2025, subject to satisfaction of customary closing conditions. Enstar intends to use the net proceeds from the offering to fund the purchase of the 5.750% Fixed-Rate Reset Junio...
Enstar Group Limited Announces Any And All Cash Tender Offer For Junior Subordinated Notes Due 2040 HAMILTON, Bermuda, March 10, 2025 (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 the outstanding 5.750% Fixed-Rate Reset Junior Subordinated Notes due 2040 issued by Enstar’s wholly owned subsidiary, Enstar Finance LLC, that Enstar guarantees on a junior subordinated basis (the “Notes”). The table below sets forth additional information with respect to the Notes and the Tend...
Enstar Subsidiary Assigned “A” Financial Strength Rating by AM Best HAMILTON, Bermuda, March 07, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that the credit rating agency AM Best has assigned a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) to Cavello Bay Reinsurance Limited (Cavello Bay), a subsidiary of Enstar Group Limited (Enstar) and its primary non-life run-off consolidator and a Class 3B reinsurer. The outlook assigned to these Credit Ratings is stable. On issuing its rating,...
Enstar Completes Previously Announced Transaction with Atrium Syndicate 609 HAMILTON, Bermuda, March 04, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today its Lloyd’s syndicate (“Syndicate 2008”), managed by Enstar Managing Agency Limited, has completed the previously announced transaction with Atrium Syndicate 609, managed by Atrium Underwriters Limited. Under the terms of the loss portfolio transfer agreement, Atrium Syndicate 609 ceded net loss reserves of approximately $196 million, based on Atrium’s carried reserves as at Q3 2024, to Enstar’s ...
Enstar Group Limited Announces Quarterly Preference Share Dividends HAMILTON, Bermuda, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it will pay cash dividends on its Series D and Series E preference shares. Dividends on Enstar’s Series D 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series D Preference Share) will be payable on March 3, 2025 to shareholders of record on February 15, 2025. Dividends on Enstar’s Series E 7....
Enstar Legacy Syndicate 2008 Agrees $196m LPT Deal with Atrium Syndicate 609 HAMILTON, Bermuda, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today its Lloyd’s syndicate (“Syndicate 2008”), managed by Enstar Managing Agency Limited, has agreed a ground-up loss portfolio transfer (“LPT”) with Atrium Syndicate 609, managed by Atrium Underwriters Limited. The transaction involves Syndicate 609’s discontinued portfolios, comprising Marine Treaty Reinsurance, Property Treaty Reinsurance and US Contractors General Liability. Under the terms of the...
Enstar Completes Previously Announced Transactions with James River HAMILTON, Bermuda, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (NASDAQ: ESGR) announced today that it has completed the previously announced transaction between one of its wholly owned subsidiaries and certain subsidiaries of James River Group Holdings, Ltd. (“James River”), following receipt of the relevant regulatory approval and satisfaction of the other closing conditions. Under the terms of the adverse development cover (“ADC”) agreement, Enstar’s subsidiary has provided $75 million of limit in...
AXIS Advances Transition to Specialty Underwriter, Announces Loss Portfolio Transfer Reinsurance Agreement With Enstar on Reinsurance Segment Reserves PEMBROKE, Bermuda, Dec. 16, 2024 (GLOBE NEWSWIRE) -- AXIS Capital Holdings Limited (“AXIS Capital” or “AXIS” or “the Company”) (NYSE: AXS) and Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that they have entered into a loss portfolio transfer (“LPT”) reinsurance agreement covering a portfolio of reinsurance segment business. The closing of the transaction is subject to regulatory approvals and other customary conditions, an...
Enstar Agrees ADC Agreement with James River HAMILTON, Bermuda, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today that one of its wholly-owned subsidiaries has entered into an adverse development cover (“ADC”) reinsurance agreement with certain subsidiaries of James River Group Holdings, Ltd. (“James River”). Under the terms of the agreement, Enstar’s subsidiary will provide $75 million of limit in excess of the existing $160 million ADC reinsurance coverage provided to such subsidiaries of James River by State National Insurance Company, In...
A director at Sensient Technologies Corp sold 4,000 shares at 80.483USD and the significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two yea...
Enstar Shareholders Overwhelmingly Approve Sixth Street Acquisition HAMILTON, Bermuda, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it received the necessary shareholder approval for its proposed acquisition by Sixth Street, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the transaction. The transaction is expected to close in mid-2025, subject to regulatory approvals, and other customary closing conditions. Enstar will report the final, certified voting results of the...
Enstar Group Limited Announces Quarterly Preference Share Dividends HAMILTON, Bermuda, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it will pay cash dividends on its Series D and Series E preference shares. Dividends on Enstar’s Series D 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series D Preference Share) will be payable on December 1, 2024 to shareholders of record on November 15, 2024. Dividends on Enstar’s Seri...
Enstar Acquires Bermuda Reinsurer in its Second Property ILS Transaction HAMILTON, Bermuda, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (Nasdaq: ESGR) today announced that its wholly-owned subsidiary, Cavello Bay Reinsurance Limited (“Cavello Bay”), has acquired a Bermuda-domiciled Class 3B insurer and segregated accounts company (the “Reinsurer”). The Reinsurer underwrote property reinsurance business between 2020 and 2023 on behalf of third-party investors, assuming the risk through retrocession agreements with a fronting carrier. The Reinsurer had $66 million of shareholder...
Enstar Completes Loss Portfolio Transfer With QBE HAMILTON, Bermuda, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has closed a previously announced ground-up loss portfolio transfer transaction with subsidiaries of QBE Insurance Group Limited (“QBE”) to reinsure a portfolio of US commercial liability and workers’ compensation business, largely underwritten on recently discontinued programs. Under the reinsurance agreement, QBE ceded net reserves of approximately $376 million, and Enstar’s subsidiary provid...
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