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Enstar completes loss portfolio transfer with QBE

Written by Adam Cadle
01/11/2024

Enstar Group has announced that one of its wholly-owned subsidiaries has closed a previously announced ground-up loss portfolio transfer transaction with subsidiaries of QBE to reinsure a portfolio of US commercial liability and workers’ compensation business, largely underwritten on recently discontinued programs.

Under the reinsurance agreement, QBE ceded net reserves of around $376m, and Enstar’s subsidiary provided around $175m of cover in excess of the ceded reserves.

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


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