Investor Financial Supplement March 31, 2024 Explanatory Notes Non-GAAP Financial Measures Explanatory Notes (continued) 2. Enstar has certain private equity funds that are collectively held in a limited partnership, which management evaluates based on the nature of the underlying investments within these funds. U.S. GAAP requires that the investment be classified as "Private equity funds" within "Other Investments". 4 Non-GAAP financial measure, refer to pages 9 to 14 for explanatory notes and a reconcilia ...

Press Release For Release: Immediately Telephone: +1 (441) 292-3645 Date: May 2, 2024 Contact: Enstar Communications Enstar Group Limited Reports First Quarter 2024 Results * 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 2, 2024 - Enstar Group Limited (Nasdaq: ESGR) today announced financial results for the first quarter 2024. First Quarter 2024 Highlights: Enstar Group L ...

Financial Performance - Net income attributable to Enstar ordinary shareholders for Q1 2024 was $119 million, down from $424 million in Q1 2023, reflecting a decrease of 71.9%[166]. - Comprehensive income attributable to Enstar for Q1 2024 was $100 million, compared to $239 million in Q1 2023, a decline of 58.2%[167]. - Return on equity (ROE) decreased to 2.4% in Q1 2024 from 9.5% in Q1 2023, a drop of 7.1 percentage points[166]. - Net income for the first quarter of 2024 was $119 million, resulting in an annualized ROE of 9.5%, consistent with the previous year[220]. - Adjusted net income for the first quarter of 2024 was $141 million, leading to an annualized adjusted ROE of 10.5%[221]. - Net loss attributable to Enstar ordinary shareholders was $94 million for Q1 2024, compared to $190 million in Q1 2023, primarily due to a decrease in net income attributable to noncontrolling interests[253]. Investment Performance - Total investment returns recognized in income for Q1 2024 were $234 million, down from $355 million in Q1 2023, a decrease of 34.1%[169]. - Net investment income for Q1 2024 was $160 million, slightly up from $156 million in Q1 2023, an increase of 2.6%[169]. - The annualized TIR % for Q1 2024 was 3.2%, compared to 7.6% in Q1 2023, reflecting a decrease in overall investment performance[195]. - The unfavorable movement in income from equity method investments was $16 million, primarily due to a $29 million increase in losses from Monument Re[200]. - Net investment income for the Investments segment increased to $160 million in Q1 2024 from $156 million in Q1 2023, representing a 2.6% increase[234]. - Total revenues for the Investments segment decreased to $239 million in Q1 2024 from $344 million in Q1 2023, a decline of 30.5%[234]. - The annualized TIR for the Investments segment was 4.9% in Q1 2024, down from 9.5% in Q1 2023[234]. Asset Management - Book value per share (BVPS) increased by 1.7% from $343.45 as of December 31, 2023, to $349.41 as of March 31, 2024[173]. - Cumulative unrealized loss and fair value changes in fixed maturities portfolio and funds held was $789 million as of March 31, 2024, impacting BVPS by $53.82 per share[170]. - Investable assets decreased by 3.1% to $9.733 billion from December 31, 2023, to March 31, 2024, while adjusted investable assets decreased by 2.6%[202]. - The average duration of fixed maturities decreased from 4.04 years as of December 31, 2023, to 3.91 years as of March 31, 2024[203]. - The total fixed maturities and cash equivalents decreased by $587 million, primarily driven by net paid losses[203]. - Other investments, including equities, increased by $165 million from $3,853 million on December 31, 2023, to $4,018 million on March 31, 2024, driven by fair value changes and funding of various asset strategies[238]. Operational Efficiency - General and administrative expenses decreased by $2 million in Q1 2024, primarily due to lower professional fees[207]. - Acquisition costs for Q1 2024 were $1 million, down from $2 million in Q1 2023, indicating improved cost management[180]. - The company utilizes non-GAAP financial measures to provide a more consistent view of operational performance, excluding certain items that may obscure trends[209]. - The company maintained effective disclosure controls and procedures as of March 31, 2024, ensuring timely reporting of required information[315]. Cash Flow and Liquidity - Cash and cash equivalents decreased by $70 million during Q1 2024, primarily due to cash used in operating activities of $168 million[288]. - Enstar's cash flows from operating activities were negative $168 million in Q1 2024, a significant decrease compared to positive cash flows of $70 million in Q1 2023[291]. - Cash used in operating activities for Q1 2024 was $168 million, compared to cash provided of $70 million in Q1 2023, primarily due to net paid losses of $670 million[292]. - Cash provided by investing activities increased to $102 million in Q1 2024 from $94 million in Q1 2023, driven by net sales of fixed maturities, AFS of $184 million[293]. - Cash used in financing activities decreased significantly to $8 million in Q1 2024 from $349 million in Q1 2023, mainly due to a reduction in share repurchases[294]. Regulatory and Market Environment - The Bermuda government enacted a 15% corporate income tax effective January 1, 2025, which is expected to impact a meaningful portion of Enstar's income[273]. - The company expects global financial markets to remain uncertain throughout 2024 due to various macroeconomic factors, including potential recession and geopolitical tensions[258]. - Enstar continues to monitor inflationary impacts and has not seen significant effects on net loss reserves despite rising inflation since 2021[265]. Segment Performance - The Run-off segment reported net premiums earned of $11 million in Q1 2024, up from $8 million in Q1 2023, reflecting a 37.5% increase[229]. - The Run-off segment incurred a net loss of $11 million in Q1 2024, compared to a net loss of $5 million in Q1 2023, indicating a worsening of 120%[230]. - The Run-off segment's total revenues increased to $14 million in Q1 2024 from $13 million in Q1 2023, a growth of 7.7%[229]. - The Run-off segment experienced a net favorable development of $29 million in Professional Indemnity/Directors and Officers line of business in Q1 2024[230]. Debt and Capital Management - As of March 31, 2024, total debt obligations were $1,832 million, slightly up from $1,831 million at the end of 2023[303]. - The company has unfunded investment commitments totaling $1,572 million, with $335 million due in the short term and $1,237 million in the long term[312]. - Credit ratings as of May 2, 2024, include a long-term issuer rating of BBB+ from both Standard and Poor's and Fitch Ratings[306]. - The company has not declared any dividends on ordinary shares to date, with a strategy to potentially return value to shareholders through share repurchases or dividends[308].

HAMILTON, Bermuda, April 30, 2024 (GLOBE NEWSWIRE) -- 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, a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 Commission File Number 001-33289 ENSTAR GROUP LIMITED (Exact name of Registrant as specified in its charter) BERMUDA N/A (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) A.S. Cooper Building, 4th Floor, 26 Reid Street, Hamilton HM 11, Bermuda (Addres ...

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Commission File Number 001-33289 ENSTAR GROUP LIMITED (Exact name of Registrant as specified in its charter) BERMUDA N/A (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Windsor Place, 3rd Floor, 22 Queen Street, Hamilton HM JX, Bermuda (Add ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Commission File Number 001-33289 ENSTAR GROUP LIMITED (Exact name of Registrant as specified in its charter) BERMUDA N/A (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Windsor Place, 3rd Floor, 22 Queen Street, Hamilton HM JX, Bermuda (Address ...

Enstar Group Limited (ESGR) Q1 2023 Earnings Conference Call May 4, 2023 7:00 AM ET Corporate Participants Peter Kalaev - Group Treasurer Matthew Kirk - CFO Dominic Silvester - CEO Conference Call Participants Peter Kalaev Hello everyone, I’m Peter Kalaev, Group Treasurer. Thank you for listening to Enstar’s First Quarter 2023 Earnings Audio Review with CEO Dominic Silvester and CFO Matt Kirk. Before we begin, I’d like to remind everyone that this presentation contains forward looking statements and non-GAA ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 Commission File Number 001-33289 ENSTAR GROUP LIMITED (Exact name of Registrant as specified in its charter) BERMUDA N/A (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Windsor Place, 3rd Floor, 22 Queen Street, Hamilton HM JX, Bermuda (Address ...