8-K - Enstar Group LTD (0001363829) (Filer)

8-K - Enstar Group LTD (0001363829) (Filer)

8-K - Enstar Group LTD (0001363829) (Filer)

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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 Special Meeting in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission. Upon completion of the transaction, Enstar's common stock will

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 Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will b

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 shareholders' equity at the end of July 2024. The Reinsurer will be merged into Cavello Bay and a consolidated and amended retrocession agreement between the fronting carrier and Cavello

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 provided approximately $175 million of cover in excess of the ceded reserves. Completion of the transaction followed receipt of regulatory approvals and satisf

• Appoints Paul Brockman as Chief Commercial Officer • Names Adrian Thornycroft as Chief Administrative Officer from May 2025 HAMILTON, Bermuda, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited ("Enstar") (NASDAQ:ESGR), today announces changes to its executive leadership team in connection with the upcoming retirement of Orla Gregory, President, at the end the year, and the expanding role of Enstar in the insurance industry. Paul Brockman has been appointed as Chief Commercial Officer with immediate effect. Paul has been with Enstar since 2012, most recently in the role of Group Chief Operating Officer. This newly created role reflects the continued expansion of the scope of

HAMILTON, Bermuda, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ:ESGR) announced today that one of its wholly-owned subsidiaries has closed a previously announced loss portfolio transfer transaction with a subsidiary of SiriusPoint Ltd. ("SiriusPoint") to reinsure a $400 million portfolio of Workers' Compensation business covering underwriting years 2018 to 2023. Under the reinsurance agreement, SiriusPoint will cede net reserves of approximately $400 million, and Enstar's subsidiary will provide approximately $200 million of cover in excess of the ceded reserves, with claims management transferring to Enstar. Completion of the transaction followed receipt of regulatory

HAMILTON, Bermuda, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited ("Enstar") (NASDAQ:ESGR) today announced the expiration of the 35-day "go-shop" period as provided in the previously announced definitive merger agreement, pursuant to which Sixth Street, a leading global investment firm, will acquire Enstar for $5.1 billion. The go-shop period expired at 11:59 p.m. ET on September 2, 2024. During the "go-shop" period, Enstar, with the assistance of its financial advisor Goldman Sachs & Co. LLC, actively solicited alternative acquisition proposals from 34 potentially interested third parties. To date, the Company has not received any additional acquisition proposals following the e

HAMILTON, Bermuda, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ:ESGR) announced today that it has completed the previously announced transaction between one of its wholly owned subsidiaries with Insurance Australia Limited, on behalf of Insurance Australia Group ("IAG"), following receipt of the relevant regulatory approvals and satisfaction of the final closing conditions. Under the terms of the adverse development cover ("ADC") agreement, Enstar will provide approximately the equivalent of US$442 million (AU$650m) of excess cover over the equivalent of US$1.7 billion (AU$ 2.5bn) of underlying reserves for certain long-tail insurance business. The portfolio includes Pro

HAMILTON, Bermuda, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ:ESGR) announced today that one of its wholly owned subsidiaries has reached an agreement to provide a ground-up Loss Portfolio Transfer ("LPT") with certain subsidiaries of QBE Insurance Group Limited ("QBE"). The transaction involves a diversified portfolio of US commercial liability and workers' compensation business, largely underwritten on recently discontinued programs. Enstar is familiar with the majority of the business and has existing exposure to the programs through a previous transaction with QBE in 2023. Under the terms of the agreement, Enstar's subsidiary will assume net loss reserves from QBE

HAMILTON, Bermuda, Aug. 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 September 1, 2024 to shareholders of record on August 15, 2024. Dividends on Enstar's Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will be pay

• Appoints Paul Brockman as Chief Commercial Officer • Names Adrian Thornycroft as Chief Administrative Officer from May 2025 HAMILTON, Bermuda, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited ("Enstar") (NASDAQ:ESGR), today announces changes to its executive leadership team in connection with the upcoming retirement of Orla Gregory, President, at the end the year, and the expanding role of Enstar in the insurance industry. Paul Brockman has been appointed as Chief Commercial Officer with immediate effect. Paul has been with Enstar since 2012, most recently in the role of Group Chief Operating Officer. This newly created role reflects the continued expansion of the scope of

HAMILTON, Bermuda, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ:ESGR) announced today that Zachary Wolf has stepped down from his position as Chief Financial Officer to pursue other opportunities and will remain available for a transition period until September 30, 2021. Orla Gregory, Enstar's current Chief Operating Officer, has been named Acting Chief Financial Officer. Michael Murphy, Enstar's current Chief Accounting Officer, will serve as Deputy Chief Financial Officer.   Ms. Gregory has served as Chief Operating Officer since 2016, having previously served as Chief Integration Officer and in executive M&A positions from 2009. She joined Enstar 18 years ago, having

Enstar Gr's (NYSE:ESGR) short percent of float has risen 16.98% since its last report. The company recently reported that it has 82 thousand shares sold short, which is 0.62% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.0 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is im

Enstar Gr (NASDAQ:ESGR) reported quarterly earnings of $8.02 per share. This is a 67.65 percent decrease over earnings of $24.79 per share from the same period last year. The company reported $250.00 million in sales this quarter. This is a 60.44 percent decrease over sales of $632.00 million the same period last year.

Enstar Group Limited (NASDAQ:ESGR) has announced today that one of its wholly-owned subsidiaries has reached an agreement for a loss portfolio transfer with a subsidiary of SiriusPoint Ltd. ("SiriusPoint") to reinsure a $400 million portfolio of Workers' Compensation business covering underwriting years 2018 to 2023. Under the reinsurance agreement, which will be entered into at closing, SiriusPoint will cede net reserves of approximately $400 million, and Enstar's subsidiary will provide approximately $200 million of cover in excess of the ceded reserves, with claims management transferring to Enstar.The transaction, in which Guy Carpenter acted as the broker, will close upon receipt of reg

Bond appetites are growing as more and more investors look to lock in high-yielding assets ahead of an expected decline in interest rates this year. What To Know: Riskier forms of corporate debt with higher yields are becoming increasingly popular with the Federal Reserve expected to begin cutting rates later this year. Investors are looking for opportunities to lock in current levels of high interest for years to come, and corporate bonds are one place they are looking. According to Reuters, a change in Moody’s approach to ratings last month has fueled the increased demand, especially for high-yielding bonds. Benzinga used Public.com’s bond screener tool to identify some of the hi

Enstar Gr (NASDAQ:ESGR) reported quarterly earnings of $39.71 per share. This is a 199.47 percent increase over earnings of $13.26 per share from the same period last year. The company reported $482.00 million in sales this quarter. This is a 161.96 percent increase over sales of $184.00 million the same period last year.

Enstar Gr (NASDAQ:ESGR) reported quarterly earnings of $2.43 per share. This is a 109.31 percent increase over losses of $(26.10) per share from the same period last year. The company reported $161.00 million in sales this quarter. This is a 134.55 percent increase over sales of $(466.00 million) the same period last year.

Per the agreement, Enstar will provide $400 million of adverse development cover in excess of carried loss reserves on assumed reinsurance contracts underwritten by Validus Re.

Enstar Gr (NASDAQ:ESGR) reported quarterly earnings of $1.34 per share. This is a 104.68 percent increase over losses of $(28.62) per share from the same period last year. The company reported $154.00 million in sales this quarter. This is a 131.69 percent increase over sales of $(486.00 million) the same period last year.

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. Gainers Oxbridge Re Holdings (NASDAQ:OXBR) stock moved upwards by 4.96% to $1.69 during Wednesday's regular session. Trading volume for Oxbridge Re Holdings's stock is 37.0K as of 13:40 EST. This is 216.2% of its average full-day volume over the last 100 days. The company's market cap stands at $9.9 million. Fanhua (NASDAQ:FANH) shares moved upwards by 4.1% to $8.12. As of 13:40 EST, Fanhua's stock is trading at a volume of 35.4K, which is 75.2% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $469.9 million. Reliance

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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 Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will b

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 shareholders' equity at the end of July 2024. The Reinsurer will be merged into Cavello Bay and a consolidated and amended retrocession agreement between the fronting carrier and Cavello

HAMILTON, Bermuda, Aug. 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 September 1, 2024 to shareholders of record on August 15, 2024. Dividends on Enstar's Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will be pay

Enstar to be Acquired by Sixth Street-led Consortium for $5.1 BillionNet Income Attributable to Enstar Ordinary Shareholders of $126 Million; Return on Equity of 2.5% Primarily Driven by Positive Investment ResultsYear-to-Date Growth in Book Value per Ordinary Share of 4.5% to $358.74 (Fully Diluted* $350.74) Announced $400 Million Loss Portfolio Transfer with SiriusPointSigned $350 Million Agreement to Provide Reinsurance Cover in Insurance-linked Securities (ILS) Market1Entered into $200 Million Adverse Development Cover Agreement with Insurance Australia GroupClosed $297 Million Transaction To Reinsure Legacy Business with Accredited1This transaction closed on July 25. * Non-GAAP measure

Enstar shareholders to receive $338.00 per share in cash Strong alignment between Enstar and Sixth Street to ensure continuity of Enstar strategy HAMILTON, Bermuda, July 29, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited ("Enstar") (NASDAQ:ESGR) today announced that it has entered into a definitive merger agreement under which Sixth Street will acquire Enstar, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the transaction. Enstar shareholders will receive a total of $338.00 in cash per ordinary share of Enstar payable upon closing of the transaction, representing a total equity value of $5.1 billion. The consideration represent

HAMILTON, Bermuda, May 03, 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 June 3, 2024 to shareholders of record on May 15, 2024. Dividends on Enstar's Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will be payable on J

Net Income Attributable to Enstar Ordinary Shareholders of $119 Million; Return on Equity of 2.4% Primarily Driven by Positive Investment ResultsGrowth in Book Value per Ordinary Share of 1.7% to $349.41 (Fully Diluted* $341.53) Announced $400 Million Loss Portfolio Transaction with SiriusPoint, Subsequent to Quarter EndBermuda-based Wholly Owned Subsidiary, Cavello Bay Reinsurance Limited Assigned Insurer Financial Strength Rating of ‘A' with Stable Outlook by S&P Global Ratings * Non-GAAP measure; refer to "Non-GAAP Financial Measures" further below for explanatory notes and a reconciliation to the most directly comparable GAAP measure. HAMILTON, Bermuda, May 02, 2024 (GLOBE NEWSWIRE)

Full year 2023 Net Income attributable to Enstar Ordinary Shareholders of $1.1 billion, Return on Equity of 24.2% and Growth in Book Value per Ordinary Share of 31.0% to $343.45 (Fully Diluted* $336.72) Fourth Quarter Net Income attributable to Enstar Ordinary Shareholders of $599 million and Return on Equity of 13.7%Closed Previously Announced Transaction with AIGRepurchased 841,735 Voting Ordinary Shares for $191 Million at a Significant Discount to Book Value Per Ordinary Share HAMILTON, Bermuda, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ:ESGR) today announced financial results for the fourth quarter and full year 2023. Fourth Quarter 2023 Highlights:   Net income

HAMILTON, Bermuda, Feb. 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 March 1, 2024 to shareholders of record on February 15, 2024. Dividends on Enstar's Series E 7.00% Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series E Preference Share) will be payab

Net Earnings of $38 million and Return on Equity of 0.9%, Primarily Driven by Investment ResultsBook Value per Ordinary Share of $282.37 (Adjusted* $277.01) as of September 30, 2023Closed Previously Announced Transaction with AIG, Subsequent to Quarter-EndPost-Quarter End, Agreed to Repurchase $191 Million of Ordinary Shares at a 5% Discount to the Trailing 10-Day Volume Weighted Average Price of Enstar Ordinary Shares as of November 3, 2023 (Representing a 19.5% Discount to Book Value Per Ordinary Share as of September 30, 2023) HAMILTON, Bermuda, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ:ESGR) filed its quarterly report on Form 10-Q with the SEC earlier today. The t