Enstar
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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.
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The stock-performance-related plan comes as the carrier extends Dominic Silvester's contract, and those of the president and COO, by three years.
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Investment income and an improved performance at StarStone lift the group result.
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Liabilities involved are associated with asbestos and environmental claims.
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The executive is understood to have teamed up with former colleagues Harris and Hernon.
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The transaction has now received regulatory approval and has closed.
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Investment income increases, while the group’s non-life run-off operations and Lloyd’s business Atrium post an improved performance.
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The completion of the agreement follows a prior extension of the deal deadline.
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The deal was expected to close by the end of June.
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Myron Hendry move recently served as EVP and chief platform officer for XL Catlin, now Axa XL.
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Global specialty insurer StarStone reported $51mn of adverse development
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