Enstar Group News

Legacy Specialist Enstar Provides $2.3B Adverse Development Cover for AXA XL

Enstar Group Ltd. announced that one of its wholly owned subsidiaries has signed an agreement to provide adverse development cover to AXA XL, a division of AXA. In the transaction, Enstar’s subsidiary will cover losses incurred on or prior to …

New Insurance Group Inigo Gets Approval from Lloyd’s to Start Underwriting in January

Inigo Ltd., the new London insurance group that has raised $800m in start-up capital from a group of blue chip global investors, announced that it has received approval in principle from the Corporation of Lloyd’s and will start underwriting for …

New Insurance Group Inigo Raises $800M of Capital; Founded by Former Hiscox Execs

Inigo Ltd., a new London-based insurance group, announced it has completed a capital raise of approximately $800 million from a consortium of global investors, comprising (among others) funds controlled by Caisse de dépôt et placement du Québec (CDPQ), Enstar, J.C. …

Enstar to Sell Starstone’s Lloyd’s Managing Agency to New Re/Insurance Venture Inigo

Enstar Group Ltd. and Stone Point Capital LLC announced they have signed definitive agreements to sell StarStone Underwriting Ltd. (SUL), the Lloyd’s managing agency, together with the right to operate Lloyd’s Syndicate 1301, to Inigo Ltd., a new specialty re/insurance …

Arch Capital to Buy Watford for $700M in Cash, with Support from Former Rival Enstar

Arch Capital Group Ltd. and Watford Holdings Ltd. announced a revised definitive agreement under which Arch will acquire all of the common shares of Watford for $35.00 per share, in an all-cash offer valued at approximately $700 million. The deal …

Enstar Offers $34.50 per Share for Watford Holdings, Surpassing Arch Capital’s Bid

Watford Holdings Ltd.’s board of directors announced they are considering an acquisition offer of $34.50 per share from Enstar Group which could be a “superior proposal” to the recent offer from Arch Capital Ltd. for approximately $622 million, or $31.10 …

Enstar Offers to Purchase Watford Holdings for $620 Million

Enstar Group Ltd. has made a 100% cash offer to purchase Watford Holdings Ltd.for $31.00 per ordinary share, which amounts to $620 million. The Enstar offer is higher than another offer received recently from Arch Capital Group and a group …

AM Best Reviews Credit Ratings of Enstar’s StarStone After Announced Capital Raise

AM Best has placed under review with negative implications the credit ratings of StarStone Insurance Bermuda and its subsidiaries as a result of the recent announcement by parent company, Enstar Group Ltd., that it was boosting the capital of StarStone …

Enstar Boosts Capital of StarStone U.S. by $610M with Noonan, Consolino as Execs

Enstar Group Ltd. announced it has increased the capitalization of its specialty property/casualty insurance subsidiary StarStone U.S. Holdings Inc., by $630 million. Three private equity investors have committed $610 million in new equity capital which, together with the rollover of …

Aspen Forms Adverse Development Cover Agreement with Enstar

Aspen Insurance Holdings Ltd. announced that it has entered into anadverse development cover reinsurance agreement with a wholly owned subsidiary of Enstar Group Ltd. In the transaction, Enstar’s subsidiary will reinsure losses incurred on or prior to Dec. 31, 2019 …