Enstar Group Ltd has reported consolidated net earnings of $264.8 million, or $13.62 per fully diluted share, for 2016.

That was up on the $220.3 million, or $11.35 per fully diluted share, for 2015.

Bermudian-based Enstar is a multifaceted insurance group with a core focus on acquiring and managing insurance and reinsurance companies in run-off.

Enstar’s shareholders’ equity at the end of 2016 amounted to $2.8 billion, or $143.68 per fully diluted share, which was up from $2.5 billion, or $129.65 per share, the previous year.

Its Atrium segment recorded net earnings of $6.4 million for the year, down from $16.5 million in 2015, while StarStone’s net earning rose from $13.6 million to $25.2 million.

Enstar launched KaylaRe Ltd, a Bermudian-based Class 4 reinsurer, in December.