Enstar
-
The deal sets an exit plan for Stone Point from the Bermuda group’s North Bay entity if that business isn’t reorganised by year-end. -
The legacy transaction will cover loss development at the carrier's operations, including its E&S business.
-
Enstar will remain a minority investor, with PE capital also drawn from Dragoneer and SkyKnight.
-
The deal, first announced in March, secures Aspen $770mn in cover for losses in excess of $3.8bn, as well as $250mn in excess $4.8bn.
-
The results were impacted by an unrealised investment loss of $612.6mn.
-
The carrier has agreed to reinsure legacy business underwritten by Zurich from 1 October 2015 to 30 September 2018.
-
The Bermuda company says its ADC deal with Enstar is bearing fruit.
-
Aspen is the latest to pass the risk of unfavourable reserve development on to reinsurers.
-
Losses at StarStone narrowed as the carrier cut premiums while Atrium profits were up 90 percent.
-
The legacy insurer said that its investment reflects a belief that the business is “considerably undervalued”.
-
The carriers claim in a lawsuit that Maiden wrongfully stopped paying claims in late 2018.
-
The stock-performance-related plan comes as the carrier extends Dominic Silvester's contract, and those of the president and COO, by three years.
Most Recent
-
Daily Digest: Top news from November 22
November 22, 2024 -
Cyber attacks on supply chain up 431% since 2021: Cowbell
November 22, 2024 -
PE firm Capital Z takes $240mn minority stake in retail broker Leavitt
November 22, 2024