Enstar Group Limited (ESGRP)

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About Enstar Group Limited

Enstar Group Limited acquires and manages insurance and reinsurance companies, and portfolios of insurance and reinsurance business in run-off. The company engages in the running off property and casualty, and other non-life lines of businesses. It also provides consulting services, including claims inspection, claims validation, reinsurance asset collection, and IT consulting services to the insurance and reinsurance industry. The company operates in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and internationally. The company was formerly known as Castlewood Holdings Limited and changed its name to Enstar Group Limited in January 2007. Enstar Group Limited was founded in 2001 and is based in Hamilton, Bermuda. Address: Windsor Place, Hamilton, Bermuda, HM JX

Enstar Group Limited News and around…

Latest news about Enstar Group Limited (ESGRP) common stock and company :

Insurance Stocks Moving In Thursday's Intraday Session
07 Oct, 2021 FinancialContent

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. Gainers eHealth ...

Enstar Completes ADC Agreement With RSA
06 Oct, 2021 Yahoo! Finance

HAMILTON, Bermuda, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has closed a previously announced agreement with Royal & Sun Alliance Insurance Limited (“RSA”), a wholly owned subsidiary of Toronto-based Intact Financial Corporation, to provide adverse development cover (“ADC”) for certain UK, Irish, and other business of RSA and its subsidiaries. The ADC provides £400 million of aggregate coverage in excess of a

The Independent Chairman of the Board of Enstar Group Limited (NASDAQ:ESGR), Robert Campbell, Just Bought 1.5% More Shares
11 Sep, 2021 Yahoo! Finance

Investors who take an interest in Enstar Group Limited ( NASDAQ:ESGR ) should definitely note that the Independent...

Enstar Completes Acquisition of Controlling Interest in Enhanzed Re
01 Sep, 2021 Yahoo! Finance

HAMILTON, Bermuda, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Reinsurance Ltd. (“Enhanzed Re”) previously held by an affiliate of Hillhouse Group. The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total shareholders’ equity as of June 30, 2021 and is subject to adjustment to reflect the finalization of the Enhanzed Re balanc

Enstar Group Limited Announces Expiration and Results of Cash Tender Offer For Senior Notes Due 2022
23 Aug, 2021 Yahoo! Finance

HAMILTON, Bermuda, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced the expiration and final results of its previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 4.500% Senior Notes due 2022 (the “Notes”). The Tender Offer expired at 5:00 p.m., New York City time, on August 20, 2021 (the “Expiration Time”). The principal amount of the Notes that was validly tendered and not validly withdrawn in the Tender Of

Enstar Group Limited Announces Pricing For Its Cash Tender Offer
20 Aug, 2021 Yahoo! Finance

HAMILTON, Bermuda, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced the consideration payable for the notes subject to its previously announced cash tender offer (the “Tender Offer“) for any and all of its outstanding 4.500% Senior Notes due 2022 (the “Notes”). The consideration payable for each $1,000 principal amount of Notes validly tendered and accepted for purchase pursuant to the Tender Offer was determined in the manner described in the Offe

Enstar Group Limited Announces Pricing of $500 Million of Senior Notes Due 2031
18 Aug, 2021 Yahoo! Finance

HAMILTON, Bermuda, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced the pricing of $500 million aggregate principal amount of its 3.100% Senior Notes due 2031 (the “Notes”). The offering is expected to close on August 24, 2021, subject to satisfaction of customary closing conditions. Enstar intends to use the net proceeds from the offering to fund the purchase of its 4.500% Senior Notes due 2022 validly tendered and accepted for purchase in the ten

Enstar Group Limited Announces Any And All Cash Tender Offer For Senior Notes Due 2022
16 Aug, 2021 Yahoo! Finance

HAMILTON, Bermuda, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it has commenced a cash tender offer (the “Tender Offer”) for any and all of its outstanding 4.500% Senior Notes due 2022 (the “Notes”). The table below sets forth additional information with respect to the Notes and the Tender Offer. Title of Notes CUSIP Number/ISIN Principal Amount Outstanding Reference Treasury Security Bloomberg Reference Page(1) Fixed Spread (basis points

Enstar Announces Departure of CFO and Appointment of Acting CFO
10 Aug, 2021 Yahoo! Finance

HAMILTON, Bermuda, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that Zachary Wolf has stepped down from his position as Chief Financial Officer to pursue other opportunities and will remain available for a transition period until September 30, 2021. Orla Gregory, Enstar’s current Chief Operating Officer, has been named Acting Chief Financial Officer. Michael Murphy, Enstar’s current Chief Accounting Officer, will serve as Deputy Chief Financial Officer. M

Enstar Group Limited Announces Quarterly Preference Share Dividends
05 Aug, 2021 Yahoo! Finance

HAMILTON, Bermuda, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) today announced that it will pay cash dividends on its Series D and Series E preference shares. Dividends on Enstar’s Series D 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of $0.43750 per depositary share (each of which represents a 1/1,000th interest in a Series D Preference Share) will be payable on September 1, 2021 to shareholders of record as of August 15, 2021. Div

Enstar Group Limited Reports Second Quarter Results
05 Aug, 2021 Yahoo! Finance

Net Earnings of $377.3 million and $560.5 million for the Three and Six Months Ended June 30, 2021Non-GAAP Operating Income1 of $290.5 million and $574.3 million for the Three and Six Months Ended June 30, 2021Fully diluted book value per share of $304.59 as of June 30, 2021, an increase of 43.0% year over yearAfter giving effect to strategic share repurchases completed subsequent to June 30, 2021, pro forma fully diluted book value per share2 of $319.25 HAMILTON, Bermuda, Aug. 05, 2021 (GLOBE N

Enstar Completes Transaction With ProSight
04 Aug, 2021 Yahoo! Finance

HAMILTON, Bermuda, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with ProSight Global, Inc. (“ProSight”) to provide reinsurance relating to 2019 and prior year business. The reinsurance comprises a ground up loss portfolio transfer of ProSight’s discontinued workers’ compensation and excess workers’ compensation lines of business and an adverse development cover on ProSight’s diversified

Enstar Announces ADC Agreement With RSA
27 Jul, 2021 Yahoo! Finance

HAMILTON, Bermuda, July 27, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has signed an agreement with Royal & Sun Alliance Insurance Limited (“RSA”) to provide adverse development cover for certain UK, Irish and other business of RSA and its subsidiaries, in exchange for premium. RSA is a wholly owned subsidiary of Toronto-based property & casualty insurance company, Intact Financial Corporation. The adverse development co

Insurance Stocks Moving In Wednesday's Intraday Session
21 Jul, 2021 FinancialContent

According to Benzinga Pro following are the gainers and losers in Insurance industry for today's Intraday session. ...

Enstar Announces Two Transactions with Hillhouse
15 Jul, 2021 Yahoo! Finance

Strategic Repurchase of Hillhouse Funds’ Equity Stake in Enstar Acquisition of Hillhouse Affiliate’s Interest in Enhanzed Re HAMILTON, Bermuda, July 15, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that it has entered into an agreement to repurchase an aggregate of 3,749,400 ordinary shares of Enstar held by funds managed by Hillhouse Capital Management (“Hillhouse”) for a price of $234.52 per share, totaling $879.3 million in aggregate, a discount to book value.

With EPS Growth And More, Enstar Group (NASDAQ:ESGR) Is Interesting
08 Jul, 2021 Yahoo! Finance

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...

Enstar Reinsures Hiscox Legacy Portfolio
03 Jun, 2021 Yahoo! Finance

HAMILTON, Bermuda, June 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announces today that one of its wholly owned subsidiaries has completed a Loss Portfolio Transfer with Hiscox Ltd (“Hiscox”), pursuant to which Enstar’s Syndicate 2008 has reinsured a diversified portfolio of legacy insurance business underwritten by Hiscox Syndicate 3624, including the majority of Hiscox USA’s surplus lines broker business. Through the transaction, Hiscox has ceded net insurance reserves of

Enstar Group Limited Reports First Quarter Results
07 May, 2021 Yahoo! Finance

Net Earnings of $183.2 million for the Three Months Ended March 31, 2021Non-GAAP Operating Income of $283.7 million for the Three Months Ended March 31, 2021 Increase in fully diluted book value per share to $284.72 for the Three Months Ended March 31, 2021 HAMILTON, Bermuda, May 07, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (Nasdaq: ESGR) filed its quarterly report on Form 10-Q with the SEC earlier today, reporting its earnings and financial position for the three months ended March 31, 2021. Enstar reported consolidated net earnings of $183.2 million (or earnings of $8.38 per fully diluted ordinary share) for the three months ended March 31, 2021, compared to a consolidated net loss of $516.8 million (or loss of $23.98 per fully diluted ordinary share) for the three months ended March 31, 2020. The key drivers of net earnings for the three months ended March 31, 2021 were: A reduction in net incurred losses and loss adjustment expenses of $55.5 million, which comprised favorable development on prior periods of $109.6 million, partially offset by current period losses of $54.1 million, primarily in respect of the StarStone International business that was placed into run-off in June 2020, for which there is current period earned premium. The favorable development on prior periods was primarily driven by a decrease of $75.5 million in the fair value of insurance contracts for which we have elected the fair value option. The decrease in the fair value was driven by an increase in corporate bond yields; andEarnings from equity method investments of $118.0 million. Non-GAAP operating income1 was $283.7 million (or income of $12.98 per fully diluted ordinary share) for the three months ended March 31, 2021, compared to non-GAAP operating loss of $337.8 million (or loss of $15.68 per fully diluted ordinary share) for the three months ended March 31, 2020. Enstar's ordinary shareholders' equity at March 31, 2021 amounted to $6.3 billion (or $284.72 per fully diluted ordinary share), compared to $6.2 billion (or $281.20 per fully diluted ordinary share) at December 31, 2020. The Form 10-Q, which is available on Enstar's website, www.enstargroup.com, contains a more detailed description of Enstar's business and financial results. About Enstar Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired over 100 companies and portfolios since its formation in 2001. For further information about Enstar, see www.enstargroup.com. Non-GAAP Financial Measures In addition to presenting net earnings (loss) attributable to Enstar ordinary shareholders and diluted earnings (loss) per ordinary share determined in accordance with U.S. GAAP, we believe that presenting non-GAAP operating income (loss) attributable to Enstar ordinary shareholders and diluted non-GAAP operating income (loss) per ordinary share, non-GAAP financial measures as defined in SEC Regulation G, provides investors with valuable measures of our performance. Non-GAAP operating income (loss) is net earnings attributable to Enstar ordinary shareholders excluding: (i) net realized and unrealized (gains) losses on fixed maturity investments and funds held - directly managed included in net earnings (loss), (ii) change in fair value of insurance contracts for which we have elected the fair value option, (iii) (gain) loss on sale of subsidiaries, if any, (vi) net (earnings) loss from discontinued operations, if any, (v) tax effect of these adjustments, where applicable, and (vi) attribution of share of adjustments to noncontrolling interest, where applicable. We eliminate the impact of net realized and unrealized (gains) losses on fixed maturity investments and funds held - directly managed, included in net earnings (loss), and change in fair value of insurance contracts for which we have elected the fair value option because these items are subject to significant fluctuations in fair value from period to period, driven primarily by market conditions and general economic conditions, and therefore their impact on our earnings is not reflective of the performance of our core operations. We eliminate the impact of (gain) loss on sale of subsidiaries and net (earnings) loss from discontinued operations because these are not reflective of the performance of our core operations. Diluted Non-GAAP operating income (loss) per ordinary share is diluted net earnings per ordinary share excluding the per diluted share amounts of each of the adjustments used to calculate non-GAAP operating income. We believe these non-GAAP measures enable readers of our consolidated financial statements to analyze our results in a way that is more aligned with the manner in which our management measures our underlying performance. We believe that presenting these non-GAAP financial measures, which may be defined and calculated differently by other companies, improves the understanding of our consolidated results of operations. These measures should not be viewed as substitutes for those calculated in accordance with U.S. GAAP. Reconciliation of Non-GAAP Financial Measures Non-GAAP operating income attributable to Enstar ordinary shareholders is calculated by the addition or subtraction of certain items from within our consolidated statements of earnings to or from net earnings attributable to Enstar ordinary shareholders, the most directly comparable GAAP financial measure, as illustrated in the table below: Three Months Ended March 31, 2021 2020 (expressed in thousands of U.S. dollars, except share and per share data)Net earnings (loss) attributable to Enstar ordinary shareholders$183,197 $(516,821)Adjustments: Net realized and unrealized losses on fixed maturity investments and funds held - directly managed (1)206,183 277,561 Change in fair value of insurance contracts for which we have elected the fair value option(75,472) (58,237)Net gain on sale of subsidiaries(14,894) — Net loss from discontinued operations— 2,069 Tax effects of adjustments (2)(16,148) (25,965)Adjustments attributable to noncontrolling interest (3)864 (16,411)Non-GAAP operating income (loss) attributable to Enstar Group Limited ordinary shareholders (4)$283,730 $(337,804) Diluted net earnings (loss) per ordinary share (5)$8.38 $(23.98)Adjustments: Net realized and unrealized losses on fixed maturity investments and funds held - directly managed (1)9.43 12.86 Change in fair value of insurance contracts for which we have elected the fair value option(3.45) (2.70)Net gain on sale of subsidiaries(0.68) — Net loss from discontinued operations— 0.10 Tax effects of adjustments (2)(0.74) (1.20)Adjustments attributable to noncontrolling interest (3)0.04 (0.76)Diluted non-GAAP operating income (loss) per ordinary share (4) (5)$12.98 $(15.68) Weighted average ordinary shares outstanding: Basic21,562,341 21,549,844 Diluted21,852,324 21,779,906 (1) Represents the net realized and unrealized gains and losses related to fixed maturity securities. Our fixed maturity securities are held directly on our balance sheet and also within the "Funds held - directly managed" balance. Refer to Note 4 - "Investments" to our consolidated financial statements included within Item 1 of our Quarterly Report on Form 10-Q for the three months ended March 31, 2021 for further details on our net realized and unrealized gains and losses.(2) Represents an aggregation of the tax expense or benefit associated with the specific country to which the pre-tax adjustment relates, calculated at the applicable jurisdictional tax rate.(3) Represents the impact of the adjustments on the net earnings (loss) attributable to noncontrolling interest associated with the specific subsidiaries to which the adjustments relate.(4) Non-GAAP financial measure.(5) During a period of loss, the basic weighted average ordinary shares outstanding is used in the denominator of the diluted loss per ordinary share computation as the effect of including potentially dilutive securities would be anti-dilutive. Cautionary Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Important risk factors regarding Enstar can be found under the heading "Risk Factors" in our Form 10-K for the year ended December 31, 2020 and are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law. ________________________1 Non-GAAP operating income (loss) and non-GAAP operating income (loss) per fully diluted ordinary share are non-GAAP financial measures as defined in SEC Regulation G. The reconciliations of these non-GAAP measures to the most comparable GAAP financial measures (net earnings (loss) attributable to Enstar ordinary shareholders and diluted net earnings (loss) per ordinary share, respectively) are provided below, along with a discussion of the rationale for the presentation of these items. Contact: Enstar CommunicationsTelephone: +1 (441) 292-3645

Enstar Completes Transaction With AXA XL
03 May, 2021 Yahoo! Finance

HAMILTON, Bermuda, May 03, 2021 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with AXA XL, a division of AXA, to provide adverse development cover. In the transaction, Enstar’s subsidiary assumed reinsurance losses incurred on or prior to December 31, 2019 on a diversified mix of global casualty and professional lines for a premium equal to the transfer of loss reserves of 90% of $1.550 billion (or $1.395 billion). Enstar’s subsidiary is providing 90% protection (with AXA XL retaining 10%) on two layers, the first providing $1.550 billion of cover in excess of a $9.438 billion retention and the second providing an additional $1.0 billion of cover in excess above $11.363 billion. Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions. About Enstar Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired over 100 companies and portfolios since its formation in 2001. For further information about Enstar, see www.enstargroup.com. Cautionary Statement This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar and its management team. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Important risk factors regarding Enstar can be found under the heading "Risk Factors" in our Form 10-K for the year ended December 31, 2020 and are incorporated herein by reference. Furthermore, Enstar undertakes no obligation to update any written or oral forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained herein, to reflect any change in its expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements, except as required by law. Contact: Group CommunicationsTelephone: +1 (441) 292-3645

Enstar Group (NASDAQ:ESGR) Shareholders Have Enjoyed A 61% Share Price Gain
09 Apr, 2021 Yahoo! Finance

A diverse portfolio of stocks will always have winners and losers. But the goal is to pick stocks that do better than...

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20 Mar, 2021 Yahoo! Finance

In this article we will take a look at the 10 best non-tech stocks to buy now. You can skip our detailed analysis of these stocks’ outlook for 2021 and some of the major growth catalysts, and go directly to 5 Best Non-Tech Stocks To Buy Now. Analysts and famous hedge fund managers are becoming […]

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Monday's ETF Movers: FPE, XOP
26 Oct, 2020 FinancialContent

In trading on Monday, the First Trust Preferred Securities and Income ETF is outperforming other ETFs, off about 0.1% on the day. Components of that ETF showing particular strength include shares of SLMBP, up about 19.5% and shares of Enstar Group, up about 0.9% on the day.

Enstar Group Limited (ESGRP) is a NASDAQ Common Stock listed in , ,

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