Enstar Enters Adverse Development Cover Agreement With AIG
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.
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.
Company | Date | Price Target | Rating | Analyst |
---|---|---|---|---|
9/5/2024 | $90.00 | Overweight | Barclays | |
5/15/2024 | $86.00 | Buy → Hold | HSBC Securities | |
2/20/2024 | $75.00 → $77.00 | Buy → Neutral | BofA Securities | |
1/10/2024 | $78.00 | Market Perform | TD Cowen | |
1/8/2024 | $73.00 | Neutral | JP Morgan | |
12/28/2023 | $86.00 | Buy | HSBC Securities | |
12/19/2023 | $72.00 → $83.00 | Market Perform → Outperform | BMO Capital Markets | |
11/21/2023 | Hold → Buy | Argus |
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
Second Quarter 2024 Results Reflect the Successful Corebridge Financial Deconsolidation General Insurance net premiums written (NPW) of $6.9 billion, a decrease of 8% on a reported basis, and an increase of 7% on a comparable basis*† led by North America Commercial with 10%† growth Produced record Commercial Lines new business of $1.3 billion, an increase of 18% year-over-year coupled with continued strong retention globally General Insurance combined ratio was 92.5%, an increase of 160 basis points year-over-year, or 10 basis points on a comparable basis† Accident year combined ratio, as adjusted* (AYCR) was 87.6%, an improvement of 40 basis points year-over-year, or 170 basis
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
Ratings for American Intl Gr (NYSE:AIG) were provided by 12 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 8 0 0 Last 30D 1 0 0 0 0 1M Ago 0 2 4 0 0 2M Ago 0 0 1 0 0 3M Ago 0 1 3 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $84.58, a high estimate of $93.00, and a low estimate of $78.00. Witnessing a positive shift, the current average has risen by 0.89%
Citigroup analyst Michael Ward maintains American Intl Gr (NYSE:AIG) with a Buy and lowers the price target from $89 to $87.
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
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8-K - Enstar Group LTD (0001363829) (Filer)
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American International Group, Inc. (NYSE:AIG) today announced that Keith Walsh will join the company as Executive Vice President, Chief Financial Officer, effective October 21, 2024. Mr. Walsh will report to AIG Chairman & Chief Executive Officer, Peter Zaffino and become a member of the Executive Leadership Team. He will be responsible for leading AIG's global Finance organization and will be based in New York. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240918405924/en/Keith Walsh (Photo: Business Wire) "Keith is a highly accomplished executive with deep financial expertise and significant investor experience in the financia
American International Group, Inc. (NYSE:AIG), today announced that Melissa Twiningdavis has been appointed Executive Vice President, Chief Administrative Officer, effective September 1, 2024. Ms. Twiningdavis will report to AIG Chairman and Chief Executive Officer, Peter Zaffino with responsibility for global administrative services, including global sourcing and procurement, real estate and facilities, and shared services operations. She will become a member of AIG's Executive Leadership Team and will be based in New York. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240715172009/en/Melissa Twiningdavis (Photo: Business Wire
American International Group, Inc. (NYSE:AIG) today announced the appointment of Adam Burk as Global Treasurer and Head of Corporate Development, effective immediately. He will continue to report to Sabra Purtill, Executive Vice President, Chief Financial Officer, with responsibility for AIG's global treasury activities, including capital management, banking and rating agency relations, global capital markets, liquidity management, and cash management, in addition to his current role leading the Corporate Development and Strategy team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240708716442/en/Adam Burk (Photo: Business Wire
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4 - AMERICAN INTERNATIONAL GROUP, INC. (0000005272) (Issuer)
4 - AMERICAN INTERNATIONAL GROUP, INC. (0000005272) (Issuer)
4 - AMERICAN INTERNATIONAL GROUP, INC. (0000005272) (Reporting)
4 - AMERICAN INTERNATIONAL GROUP, INC. (0000005272) (Issuer)
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3 - Enstar Group LTD (0001363829) (Issuer)
American International Group, Inc. (NYSE:AIG) today announced that Keith Walsh will join the company as Executive Vice President, Chief Financial Officer, effective October 21, 2024. Mr. Walsh will report to AIG Chairman & Chief Executive Officer, Peter Zaffino and become a member of the Executive Leadership Team. He will be responsible for leading AIG's global Finance organization and will be based in New York. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240918405924/en/Keith Walsh (Photo: Business Wire) "Keith is a highly accomplished executive with deep financial expertise and significant investor experience in the financia
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
American International Group, Inc. (NYSE:AIG) today announced that it will redeem all of its outstanding Series A-3 Junior Subordinated Debentures (Common Code 026874BG1 / ISIN XS0291642154) (the "Debentures") on September 16, 2024 (the "Redemption Date"). On the Redemption Date, AIG will pay to the registered holders of the Debentures a redemption price equal to 100% of the principal amount of the Debentures, plus accrued and unpaid interest to, but not including, the Redemption Date. As of September 3, 2024, €41,550,000 aggregate principal amount of the Debentures were outstanding. This press release does not constitute a notice of redemption of the Debentures. Holders of the Debentures
Barclays initiated coverage of American Intl with a rating of Overweight and set a new price target of $90.00
HSBC Securities downgraded American Intl from Buy to Hold and set a new price target of $86.00
BofA Securities downgraded American Intl from Buy to Neutral and set a new price target of $77.00 from $75.00 previously