OUR HISTORY

In 1993 Dominic Silvester, Paul O’Shea, and Nick Packer – all of whom are current executive-team members at Enstar or its affiliates – recognised the great potential in the reinsurance sector’s largely ignored run-off space. Through careful application of analysis, and by leveraging their expertise in risk and liabilities, their plan was to support client companies by freeing their capital and managing their discontinued operations. They launched Castlewood Ltd. in Bermuda to meet this emerging demand, and to release capital in legacy portfolios.

THE ENSTAR STORY

They realised that scale would be critical to their ability to deliver. Eight years and more than a dozen property/casualty legacy acquisitions later, they formed a joint venture called Castlewood Holdings Ltd. with continuing partners The Enstar Group, Inc. and Trident II LP, an investment fund then managed by Marsh & McLennan. The partnership prospered. In 2007, Castlewood merged with Enstar Group, and took on its name. The merger supported continued growth through greater access to public markets.

Enstar expanded into active underwriting in 2013, through the acquisition of Atrium Underwriting Group Ltd., a top-performing managing agency in the Lloyd’s market. Subsequent acquisitions followed, more than 75 to date.

Enstar continues to move from strength to strength. Most recently it assumed UK employers’ liability legacy risks reserved at £957 million for RSA Group, one of the world’s oldest insurers; reserves of $1.1 billion related to US workers’ compensation, construction defect, and asbestos, pollution, and toxic tort business originally held by Fireman’s Fund Insurance Company, for the German insurance group Allianz; and gross reinsurance reserves of approximately $919 million for Australia’s QBE, to reinsure US multi-line property and casualty business. Enstar remains vigilant to opportunities where its innovative capital release solutions can realise value for customers and stakeholders.

In June 2013, Enstar announced its expansion into active underwriting with the signing of definitive agreements to acquire Atrium Underwriting Group Ltd

QUICK STATS

$bn

Assets
Mar 31, 2017

$bn

Liabilities
Mar 31, 2017

$bn

Shareholders' equity
Mar 31, 2017

+

Total acquisitive transactions since formation