HAMILTON, Bermuda, Feb. 05, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with Continental Casualty Company (“CNA”) to reinsure a legacy portfolio of excess workers’ compensation business.
In the transaction, CNA ceded net insurance reserves to an Enstar subsidiary of approximately $690 million not inclusive of any roll forward adjustments, relating to 2007 and prior year business.
Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions.
Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired over 100 companies and portfolios since its formation in 2001. For further information about Enstar, see www.enstargroup.com.
|Telephone:||+1 (441) 292-3645|