M&A - Enstar Group LTD

Form Type: 8-K

Filing Date: 2025-01-16

Corporate Action: Acquisition

Type: New

Accession Number: 000136382925000010

Filing Summary: On January 13, 2025, Enstar Group Limited's Lloyd's syndicate, managed by Enstar Managing Agency Limited, entered into a Loss Portfolio Transfer Reinsurance Agreement (LPT) with Atrium Syndicate 609. This agreement involves the cession of net loss reserves totaling approximately $196 million from Atrium Syndicate 609, covering its discontinued portfolios including Marine Treaty Reinsurance, Property Treaty Reinsurance, and US Contractors General Liability. The LPT will transfer all claims handling to Enstar's Syndicate 2008 and is expected to close in the first quarter of 2025, pending regulatory approvals and customary conditions. Stone Point Capital LLC manages the key interests in Atrium, making this agreement significant as it also involves stakeholders with interests in both companies. A cautionary note mentions the forward-looking statements related to the transaction, highlighting potential risks and uncertainties that could affect its completion.

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