Enstar Group Limited Stock Price, News & Analysis

Paul O’Shea, President of Enstar Group Limited (NASDAQ: ESGR), will retire in March 2023 after 28 years with the company. He will remain on the Board of Directors, providing continued benefit from his experience. David Ni, previously EVP of M&A, will lead future M&A activities. CEO Dominic Silvester praised O’Shea’s contributions to Enstar’s growth, which includes completing 113 run-off deals and acquiring over $42 billion in assets. Additionally, Orla Gregory transitions to full-time CFO, with responsibilities shared among other executives.

Enstar Group Limited (NASDAQ: ESGR) announced the successful completion of a loss portfolio transfer (LPT) with Aspen Insurance Holdings Limited, involving a net assumption of $3.12 billion in loss reserves. This transaction includes an incremental $2.35 billion of net loss reserves across various lines, exchanged for a premium of $2.39 billion. The existing adverse development cover of $770 million has been incorporated into the LPT. Regulatory approvals were received, finalizing the agreement. Enstar is recognized for its leadership in legacy acquisitions, having procured over 110 companies since its inception.

Enstar (Nasdaq: ESGR) has announced cash dividends for its Series D and Series E preference shares, each valued at $0.43750 per depositary share. These dividends are payable on June 1, 2022, to shareholders of record as of May 15, 2022. Both share series carry a fixed-to-floating rate of 7.00% and are non-cumulative. Enstar, a global insurance leader, specializes in innovative capital release solutions and has successfully acquired over 110 companies since its inception in 2001.

Enstar Group reported a net loss of $282 million and a return on equity (ROE) of (5.0)% for Q1 2022, attributed to unrealized losses on fixed income securities amid rising interest rates. Book value per share decreased by 9.4% to $286.51 as of March 31, 2022. Despite the losses, the company executed a significant loss portfolio transfer of $3.1 billion and returned $42 million to shareholders through repurchases. The company remains optimistic about long-term value amidst economic uncertainty.

Enstar Group Limited (Nasdaq: ESGR) reported net earnings of $437 million for the year ended December 31, 2021, a sharp decline from $1.7 billion in 2020. Earnings per fully diluted share dropped from $78.80 to $21.71. The company saw a 7.1% return on equity, down from 39.7% in the previous year. Total shareholders' equity decreased to $5.6 billion, with book value per ordinary share rising to $316.34. Key factors for 2021 included $312 million in net investment income and favorable prior period developments totaling $283 million.

Enstar Group Limited (Nasdaq: ESGR) announced cash dividends on its Series D and Series E preference shares, each amounting to $0.43750 per depositary share. The dividends will be payable on March 1, 2022, to shareholders of record on February 15, 2022. Both series of shares have a 7.00% fixed-to-floating rate and are perpetual non-cumulative. Enstar, a global insurance leader, specializes in innovative capital release solutions and has completed over 110 acquisitions since its inception in 2001.

Enstar Group Limited (Nasdaq: ESGR) announced the pricing of $500 million in 5.500% Fixed-Rate Reset Junior Subordinated Notes due 2042. The offering, guaranteed on a junior subordinated basis by Enstar, is expected to close on January 14, 2022. Proceeds will be used to repay the $280.4 million in 4.500% Senior Notes due March 10, 2022, with remaining funds allocated for acquisitions, working capital, and general corporate purposes. The offering complies with SEC regulations and is managed by Barclays, BMO, HSBC, and Wells Fargo.

Enstar Group Limited (NASDAQ: ESGR) has announced a loss portfolio transfer (LPT) agreement with Aspen Insurance Holdings Limited, covering losses incurred before December 31, 2019, across various lines in multiple jurisdictions. Enstar's subsidiary will assume net loss reserves of $3.12 billion, subject to a limit of $3.57 billion. The transaction, expected to close in the first half of 2022, aims to enhance Enstar's growth opportunities and capital strength following a previous agreement in 2020. Completion is pending regulatory approval and other conditions.

Enstar Group Limited (Nasdaq: ESGR) announced cash dividends for its Series D and Series E preference shares, amounting to $0.43750 per depositary share. The dividends will be payable on December 1, 2021, to shareholders on record as of November 15, 2021. Both Series D and Series E preference shares have a fixed-to-floating rate of 7.00%. Enstar continues to be a leading global insurance provider, specializing in innovative capital release solutions through its extensive network.