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Last $151.00 USD
Change Today +2.50 / 1.68%
Volume 22.3K
ESGR On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Windsor Place

3rd Floor

22 Queen Street

PO Box HM 2267

Hamilton, HM 11

Bermuda

Phone: 441 292 3645

Fax: 441 296 0895

Enstar Group Limited acquires and manages various insurance businesses through a network of service companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. The company’s core focus is acquiring and managing insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off; and providing management, consulting and other services to the insurance and reinsurance industry. The company owns approximately 65 insurance and reinsurance companies and portfolios of insurance and reinsurance business. The company also operates active underwriting businesses, including the Atrium (Atrium Underwriting Group Limited) group of companies, which manage and underwrite specialist insurance and reinsurance business for Lloyd’s Syndicate 609; and the Torus (Torus Insurance Holdings Limited) group of companies, an A- rated global specialty insurance group with multiple global underwriting platforms. The company also operates closed life and annuities businesses. Segments The company has four segments: Non-Life Run-Off, Atrium, Torus, and Life and Annuities. Non-Life Run-Off segment This segment comprises the operations of the company’s subsidiaries that are running off their property and casualty and other non-life lines of business, including the run-off businesses of Arden (Arden Reinsurance Company Ltd) and Torus. It also includes the company’s smaller management business, in which it manages the run-off portfolios of third parties through its service companies. In the primary (or direct) insurance business, the insurer assumes risk of loss from persons or organizations that are directly subject to the given risks. In the reinsurance business, the reinsurer agrees to indemnify an insurance or reinsurance company, referred to as the ceding company, against all or a portion of the insurance risks arising under the policies the ceding company has written or reinsured. When an insurer or reinsurer stops writing new insurance business, either entirely or with respect to a particular line of business, the insurer, reinsurer, or the line of discontinued business is in run-off. Consulting Services The company provides consultancy services to third parties in the insurance and reinsurance industry primarily through its subsidiaries; the Cranmore companies; Enstar Limited; Enstar (US), Inc.; and Kinsale Brokers Limited. The services that the company provides range from full-service incentive-based or fixed fee run-off management to bespoke solutions, such as claims inspection, claims validation, reinsurance asset collection and IT consulting services. Paladin Managed Care Services, Inc., acquired in the SeaBright transaction, provides medical bill review, utilization review, physician case management and related services in the workers’ compensation area. In addition to third-party engagements, the company’s consultancy companies perform these services in-house for its Enstar companies, using their expertise to assist in managing the company’s run-off portfolios and performing certain due diligence matters relating to new acquisitions. Atrium segment This segment includes the active underwriting operations and financial results of Northshore Holdings Limited, a holding company that owns Atrium and its subsidiaries and Arden. Atrium and its subsidiaries are an underwriting business at Lloyd’s of London, which manages Syndicate 609 and provides approximately 25% of the Syndicate’s underwriting capacity (with the balance provided by traditional Lloyd’s Names). Atrium has offices in London, the U.S., Canada, and Singapore. Arden is a Bermuda-based reinsurance company that provides reinsurance to Atrium (through an approximately 65% quota share reinsurance arrangement with Atrium 5 Ltd, an Atrium subsidiary, which is eliminated upon consolidation) and is in the process of running off certain other discontinued businesses. Lines of Business Underwritten Syndicate 609 provides insurance and reinsurance on a worldwide basis, including the United States, Europe, the Far East and Australasia. Atrium s

 

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Valuation ESGR Industry Range
Price/Earnings 12.5x
Price/Sales 2.8x
Price/Book 1.2x
Price/Cash Flow 12.5x
TEV/Sales NM Not Meaningful
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