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July 07, 2015 12:51 AM ET

Insurance

Company Overview of Enstar Group Limited

Company Overview

Enstar Group Limited acquires and manages insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off. It operates in four segments: Non-Life Run-Off, Atrium, Torus, and Life and Annuities. The Non-Life Run-Off segment engages in the running off property and casualty, and other non-life lines of businesses. It also provides consulting services, including claims inspection, claims validation, and reinsurance asset collection, as well as IT consulting and other services to the insurance and reinsurance industry. The Atrium segment is involved in underwriting various classes, including accident and health, aviation, marine, property, liability,...

Windsor Place

3rd Floor

22 Queen Street

PO Box HM 2267

Hamilton,  HM 11

Bermuda

Founded in 2001

1,328 Employees

Phone:

441 292 3645

Fax:

441 296 0895

Key Executives for Enstar Group Limited

Chief Executive Officer and Director
Age: 54
Total Annual Compensation: $4.4M
Chief Financial Officer
Age: 53
Total Annual Compensation: $2.8M
Joint Chief Operating Officer and Executive Vice President
Age: 52
Total Annual Compensation: $2.9M
Joint Chief Operating Officer, Executive Vice President and Director
Age: 57
Total Annual Compensation: $2.9M
Compensation as of Fiscal Year 2014.

Enstar Group Limited Key Developments

Enstar Group Limited - Shareholder/Analyst Call

To provided a detailed update on the Company

Ken Moore to Step Down from the Board of Directors of Enstar Group Limited

Enstar Group Limited announced that Canada Pension Plan Investment Board has entered into an agreement to acquire approximately 1.9 million voting and non-voting ordinary shares of Enstar from First Reserve. The transaction is expected to be completed next week. Ken Moore, Managing Director of First Reserve and a member of Enstar's board of directors, will step down from Enstar's board upon completion of the transaction. Enstar expects to appoint a new director affiliated with CPPIB at a future time.

Enstar Group Limited Announces Management Changes; Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Enstar announced that Richard Harris informed the company of his intention to step aside from his role as Chief Financial Officer on August 15, 2015. Mark Smith will join the company as its new Chief Financial Officer on that date. Mr. Harris' decision is for personal reasons and he will remain with the company for an extended period to facilitate a smooth transition of his responsibilities to Mr. Smith. Mr. Smith has been a Partner at Deloitte & Touche, Bermuda since 1988 in Deloitte's accounting and auditing services group. Enstar also announced that it appointed Hitesh Patel to its Board of Directors on May 6, 2015. Mr. Patel served as Chief Executive Officer of Lucida, plc from 2012 to 2013. He is currently a non-executive director of Aviva Life Holdings UK Ltd. Mr. Patel has over 30 years of experience working in the insurance industry, having served in the United Kingdom as KPMG LLP's Lead Partner on Insurance Accounting and Regulatory Services from 2000 to 2007. The company reported consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net earnings of $44.8 million or $2.32 per fully diluted share compared to $29.6 million or $1.77 per fully diluted share for the three months ended March 31, 2014.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 29, 2015
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