Enstar Completes Previously Announced Transaction with Atrium Syndicate 609

Core Viewpoint - Enstar Group Limited has successfully completed a transaction involving the transfer of net loss reserves from Atrium Syndicate 609 to its Lloyd's syndicate, Syndicate 2008, which enhances Enstar's portfolio and claims handling capabilities [1][2]. Group 1: Transaction Details - Atrium Syndicate 609 ceded net loss reserves of approximately $196 million to Enstar's Syndicate 2008, based on Atrium's carried reserves as of Q3 2024 [2]. - The reinsurance pertains to business underwritten in 2023 and prior years, with all claims handling responsibilities transferring to Syndicate 2008 [2]. - The completion of the transaction was contingent upon receiving regulatory approvals and meeting various closing conditions [2]. Group 2: Company Overview - Enstar is a NASDAQ-listed global insurance group that specializes in innovative capital release solutions across multiple regions, including Bermuda, the United States, and Europe [3]. - The company is recognized as a market leader in legacy acquisitions, having acquired over 120 companies and portfolios since its establishment in 2001 [3].