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Maiden Holdings has sold its US reinsurance unit to a subsidiary of fellow Bermudian company Enstar Group. Maiden will receive net proceeds of $307.5 million for its Missouri-based subsidiary Maiden Reinsurance North America. Enstar will operate the ...

Enstar reported a net loss of $41.2 million in the first quarter of the year as a fall in the market value of fixed-income securities impacted financial results. The Bermudian-based run-off specialist loss compared to net earnings of $54.7 million in...

Enstar Group Limited has reported consolidated net earnings of $311.5 million, or $15.95 per share, for 2017. That is up from $264.8 million, or $13.62 per share, for 2016. The Bermudian-based insurance group said its shareholders’ equity at Decembe...

Bermudian-based Enstar Group has struck a deal to take full ownership of reinsurer KaylaRe. Enstar already owns a 48 per cent stake in the Bermudian reinsurer, which was set up with $620 million of capital backing in late 2016. Under the $400 million...

Bermudian run-off specialist Enstar Group Ltd has struck a deal with Axis Capital to acquire Novae Group’s legacy reinsurance business dating from 2015 and before. Axis, the Bermudian-based insurer and reinsurer, acquired Novae last year in a deal wo...

Mark Smith, the chief financial officer of island-based Enstar Group, will step down from his role at the end of this year. Guy Bowker, Enstar’s chief accounting officer and deputy CFO, will succeed Mr Smith in the CFO role from the start of 2018. Mr...

Island-based insurer Enstar Group Ltd’s first-quarter earnings rose by more than 20 per cent. The company posted net income of $54.7 million, or $2.80 per share, compared to $45.5 million, or $2.35 per share in the January-to-March period last year. ...

Eleven redundancies have been confirmed at two of the island’s insurance and reinsurance sector companies. Six employees have lost their jobs at PartnerRe, and five positions have been cut at Enstar Group. All those affected are either Bermudians or ...

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...

Enstar Group Ltd and its investment partners have launched a new Bermudian reinsurer with capital of $620 million. KaylaRe will offer “a diversified range of specialty reinsurance to the global insurance market”, according to a statement from Enstar ...

Enstar Group Ltd’s full-year earnings climbed to $220.3 million last year as it continued to acquire businesses in run-off. The company, whose headquarters are in Queen Street, Hamilton, reported that revenue grew to $1.03 billion on a large increase...

Enstar Group Ltd is forming a new Bermuda-based reinsurance company to assume some of its risks. Aligned Re Ltd is expected to be funded by third-party capital along with investments from the Enstar, which recently contributed $100 million, according...