Enstar
-
The ILS play will make the business more capital efficient under new owner Sixth Street. -
The legacy player is working to secure its first deal, and could look to expand to US E&S.
-
In its first deal, Enstar received $350mn in premium for certain 2019 and 2020 business in AlphaCat’s portfolio.
-
The deal freed up capital held against deals written in 2019 and 2020.
-
The deal announced in its Q2 results came as the carrier agreed a take-private deal.
-
Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.
-
The Canadian pension fund will retain 9.4% of the carrier’s voting shares.
-
The deal is the largest in Enstar’s history and sets Aspen up either for a sale to a strategic buyer or a return to the public markets.
-
He has held a seat on the company’s board since 2017.
-
The former Hiscox CUO has $300mn of cornerstone backing from the PE firm to make a deal happen.
-
The agreement, which will leave Enstar with 26% of StarStone US, fulfills a long-term ambition for Stone Point.
-
SkyKnight, Dragoneer and Aquiline have led the investment.
-
Together with Hillhouse, the two insurers will launch a new legacy insurer, Enhanzed Re, with $470mn.
-
Run-off specialist Enstar is seeking to raise $700mn of capital for its Aligned Re joint venture with UBS O'Connor
