Workflow
Enstar Agrees $400 Million Loss Portfolio Transfer With SiriusPoint
ESGREnstar(ESGR) Newsfilter·2024-04-30 20:35

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 400millionportfolioofWorkers′Compensationbusinesscoveringunderwritingyears2018to2023.Underthereinsuranceagreement,whichwillbeenteredintoatclosing,SiriusPointwillcedenetreservesofapproximately400 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 ...