Enstar Announces Departure of CFO and Appointment of Acting CFO

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 previously worked in the insurance industry in Ireland and with Ernst & Young in Bermuda. Ms. Gregory is a Fellow of the Association of Chartered Certified Accountants (ACCA).

Mr. Murphy joined Enstar in May 2021 as Chief Accounting Officer, most recently serving as Interim Chief Financial Officer and Chief Accounting Officer at TriNet Group, Inc. and Chief Accounting Officer of QBE North America. Mr. Murphy has held several senior finance roles in the insurance industry during his 30-year career.

Dominic Silvester, Enstar's Chief Executive Officer, commented: "Orla is a trusted advisor to the Board and is well-positioned to serve as Acting Chief Financial Officer given her strong accounting and finance background in combination with her significant knowledge of our business and experience managing our global operations. She will work closely with Mike Murphy to lead our talented Finance group, and I have great confidence in the collective strength of this team."

He continued: "We extend thanks to Zack for his contribution and wish him well."

About Enstar

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.

Cautionary Statement

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Important risk factors regarding Enstar can be found under the heading "Risk Factors" in Enstar's Form 10-K for the year ended December 31, 2020 and Form 10-Q for the three and six months ended June 30, 2021, which are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law.