HAMILTON, Bermuda, March 25, 2024 (Globe Newswire) — Enstar Group Limited (Nasdaq: ESGR) announced today that rating agency S&P Global Ratings (“S&P”) has issued an insurance company financial strength rating. “A'' and the outlook is stable. The Company's Bermuda-based wholly-owned subsidiary, Kavelo Bay Reinsurance Company (“Kavelo Bay”)
Kavero Bay is Enstar's primary property and casualty insurance outflow consolidator and Class 3B reinsurer. In issuing its ratings, S&P emphasized Enstar's competitive position as a “global property and casualty outflow market leader” and said it believed Enstar's claims management capabilities were “superior.” , also said he expects Enstar to “continue to do so.” I'm running a large legacy transaction. ”
Matthew Kirk, Chief Financial Officer of Enstar, said: “S&P Insurance Company's Financial Strength Ratings further support our strong capital position. The 'A' rating of our primary Bermuda reinsurer, Kavelo Bay, demonstrates the resilience of our business model. We are aware of this and will provide further flexibility for building traditional deals in the future. ”
About Anstar
Enstar is a leading global insurance group listed on NASDAQ, providing innovative capital release solutions through a 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 117 companies and portfolios since its founding in 2001. For more information about Enstar, please visit www.enstargroup.com.
Notes
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intentions, beliefs or current expectations of Enstar and its management. Investors can identify these statements by the fact that they do not relate strictly to historical or current fact. They use words and terms such as “aim,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “plan,” “project,” “believe,” and “goal.” Masu. It has a similar meaning in relation to discussions about future events and performance. Investors are cautioned that such forward-looking statements speak only as of the date they are made, are not guarantees of future performance, involve risks and uncertainties, and that actual results may vary in the future. Please note that forward-looking statements may differ materially from those anticipated. As a result of various factors. In particular, Enstar's ability to profitably execute the Legacy Transactions will depend on a number of factors. Important risk factors regarding Enstar are set forth under the heading “Risk Factors” in our Form 10-K for the year ended December 31, 2023 and are incorporated herein by reference. In addition, Enstar does not intend to update any written or oral forward-looking statements to reflect changes in expectations or changes in events with respect to the forward-looking statements, or to update or revise any forward-looking statements contained herein. We are not obligated to make it public. However, the conditions, circumstances or assumptions underlying such statements, except as required by law.
contact: Anstar Communications
phone: +1 (441) 292-3645
