Enstar completes loss portfolio transfer with Argo
An Enstar Group Limited wholly-owned subsidiary has closed its loss portfolio transfer transaction with speciality insurance underwriter Argo Group International Holdings, Ltd, to reinsure a number of its direct US casualty insurance portfolios relating to accident years 2011 to 2019.
Enstar’s subsidiary covers ground up reserves of $746 million and an additional $275 million of cover in excess of $821 million, up to a policy limit of $1.1 billion. Argo will retain a loss corridor of $75 million up to $821 million.
“We are pleased to complete this accretive transaction and partner with Argo,” said Enstar’s chief executive officer Dominic Silvester.
“We remain well-positioned with ample capacity and a robust pipeline to provide tailored, capital-relief solutions to additional partners and deliver long-term value for our stakeholders.”
Need to
Know
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service