Enstar subsidiary providing protection to AIG on Validus Re deal
Created: Nov 06, 2023 02:50 PM (Updated: Nov 06, 2023 09:00 PM)
The American International Building on Richmond Road in Pembroke (File photograph)
A wholly owned subsidiary of Bermudian-based insurer Enstar Group Limited has closed the previously announced transaction with American International Group Inc to provide protection to AIG on its retained exposure to adverse development on Validus Re’s loss reserves.
The company said the cover became effective as of the closing of AIG’s sale of Validus Re to RenaissanceRe on November 1, when all regulatory approvals were obtained and all closing conditions were satisfied.
Enstar is a Nasdaq-listed global (re)insurance group that offers capital release solutions through its network of group companies in Bermuda, the United States, Britain, continental Europe and Australia.
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Published November 06, 2023 at 2:50 pm (Updated November 06, 2023 at 9:00 pm)
Enstar subsidiary providing protection to AIG on Validus Re deal
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