Enstar Agrees $400M Loss Portfolio Transfer With SiriusPoint
Portfolio Pulse from Benzinga Newsdesk
Enstar Group Limited (NASDAQ:ESGR) has entered into a loss portfolio transfer agreement with SiriusPoint Ltd., to reinsure a $400 million Workers' Compensation business portfolio covering 2018 to 2023. Enstar will provide $200 million of cover in excess of the ceded reserves, with claims management transitioning to Enstar. The deal, brokered by Guy Carpenter, awaits regulatory approval.
April 30, 2024 | 9:38 pm
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Enstar's agreement to reinsure a $400M Workers' Compensation portfolio from SiriusPoint demonstrates its strategic expansion and expertise in risk solutions.
This deal highlights Enstar's strategic growth in the Workers' Compensation sector and its capability in managing and structuring sophisticated risk solutions. The positive impact is based on the expansion of its business and potential for increased revenue and market presence.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90