Enstar Enters Adverse Development Cover Agreement With AIG
Portfolio Pulse from Benzinga Newsdesk
Enstar has entered into an adverse development cover agreement with AIG. Under the agreement, Enstar will provide $400 million of adverse development cover in excess of carried loss reserves on assumed reinsurance contracts underwritten by Validus Re.
September 05, 2023 | 11:32 am
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NEGATIVE IMPACT
Enstar will provide $400 million of adverse development cover to AIG, potentially increasing its risk exposure.
Enstar's agreement to provide $400 million of adverse development cover to AIG increases its risk exposure. This could potentially be seen as a negative move by investors, leading to a negative impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
AIG has entered into an adverse development cover agreement with Enstar, which could potentially limit its financial exposure.
The agreement with Enstar provides AIG with a cover for adverse development, which could limit its financial exposure on assumed reinsurance contracts. This could potentially be seen as a positive move by investors, leading to a positive impact on the stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100