Bermuda-based Enstar Group Ld saw its total assets grow by more than $1 billion in 2011, the company revealed in regulatory filings.The company, which acquires and manages insurance and reinsurance companies in run-off, added that net income fell to $153.7 million for last year, down from $174.1 million in 2010.Enstar also announced on Friday that former Ironshore CEO Robert Deutsch has joined the board of directors of its subsidiary, Enstar US.Net income broke down to $10.81 per share compared to $12.66 per share in 2010.Total assets soared from $5.2 billion at the end of 2010 to $6.6 billion at the end of last year, while total shareholders’ equity grew from $1.2 billion to $1.68 billion.The growth was boosted by net earnings and investments in Enstar by affiliates of Goldman Sachs & Co that occurred on April 20 and December 22 last year.“In the current economic climate we see this as a very strong result,” chief operating officer Paul O’Shea told The Royal Gazette.Mr Deutsch, age 52, is a partner at GCP Capital Partners LLC, where he focuses on insurance-related investments.He was the founding chief executive officer of Ironshore, which started up in Bermuda in 2007. Prior to that he served for five years as CFO of CNA Financial Corporation.Enstar CEO Dominic Silvester said: “Bob brings significant insurance experience and insight to Enstar’s recently-expanded operations in the United States which we believe will be of enormous value in the future.”