Skip to main content

Enstar Completes ADC Agreement With RSA

Written by Customer Service on . Posted in Public Companies.

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 £2.595 billion retention on losses occurring on or prior to December 31, 2020 within a diversified portfolio of commercial and personal insurance lines risks. Enstar and RSA co-participate on the cover, with Enstar providing 50% and RSA retaining the remaining 50%.

Completion of the transaction followed receipt of regulatory approval and satisfaction of various closing conditions.

Dominic Silvester, Enstar’s Chief Executive Officer, said: “This transaction, our second large deal with RSA, shows the role that well-designed, smoothly executed legacy solutions can play in facilitating M&A activity in the global insurance market.”

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.

Contact: Group Communications
Telephone: +1 (441) 292-3645

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.