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The adverse development cover agreement was first announced last month

Parties say transaction is predominantly attributable to casualty portfolios totalling $3.1 billion at September 30

The subsidiary of Reinsurance Group of America Inc is a Missouri-domiciled third-party life reinsurer

The deal is expected to close in mid-2025, subject to regulatory approvals and other customary closing conditions

Parent company Enstar says the acquired company underwrote property reinsurance business between 2020 and 2023

It relates to the definitive merger agreement that will see Sixth Street, the global investment firm, acquire the company

Completion follows receipt of the relevant regulatory approvals and satisfaction of the final closing conditions

The transaction involves a diversified portfolio of US commercial liability and workers’ compensation business

The transaction, which has been unanimously approved and recommended to its shareholders is expected to close in mid-2025

Class 3B reinsurer is a wholly-owned subsidiary of Enstar Group Ltd

Bermudian-based insurer Enstar Group Limited has appointed Orla Gregory as president. She succeeds Paul O’Shea, who retired on March 1 after 28 years with the company. He remains on the board of directors as a non-employee director. Ms Gregory has se...

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