AXIS

Enstar completed a loss portfolio transfer agreement with AXIS Capital Holdings Limited. The agreement, predominantly attributable to casualty portfolios, covered reinsurance segment reserves totalling $3.1 billion at September 30, 2024, and is structured as a 75% ground-up quota share, with AXIS retroceding $2.3 billion of reinsurance segment reserves to Enstar.

Atrium

Enstar's Lloyd’s syndicate ("Syndicate 2008") completed a loss portfolio transfer agreement with Atrium Syndicate 609. The reinsurance relates to business underwritten in the 2023 and prior years of account, comprising Marine Treaty Reinsurance, Property Treaty Reinsurance and US Contractors General Liability.

James River

Enstar completed an adverse development cover reinsurance agreement with certain subsidiaries of James River Group Holdings, Ltd. (“James River”). Under the terms of the agreement, Enstar’s subsidiary provided $75 million of limit in excess of the existing $160 million adverse development cover reinsurance coverage provided to James River by State National Insurance Company, Inc.

Property ILS Transaction

Enstar acquired a Bermuda-domiciled Class 3B insurer and segregated accounts company (the “Reinsurer”). The Reinsurer underwrote property reinsurance business between 2020 and 2023 on behalf of third-party investors, assuming the risk through retrocession agreements with a fronting carrier. The Reinsurer had $66 million of shareholders’ equity at the end of July 2024.

QBE

Enstar completed a loss portfolio transfer with certain subsidiaries of QBE Insurance Group Limited, involving a diversified portfolio of US commercial liability and Workers’ Compensation business, largely underwritten on discontinued programmes. Enstar assumed net loss reserves from QBE of $376 million, and provided approximately $175 million of cover in excess of the ceded reserves.

SiriusPoint

Enstar completed a loss portfolio transfer transaction with a subsidiary of SiriusPoint Ltd. to reinsure a $400 million portfolio of Workers’ Compensation business covering underwriting years 2018 to 2023.

IAG

Enstar completed an adverse development cover with Insurance Australia Group. Enstar provided approximately the equivalent of US$442 million (AU$650m) of excess cover over the equivalent of US$1.7 billion (AU$ 2.5bn) of underlying reserves for certain long-tail insurance business. The portfolio includes Product & Public Liability, Compulsory Third-Party Motor, Professional Risks and Workers’ Compensation for losses incurred on or prior to June 30, 2023.

Accredited

Enstar completed a transaction with Accredited Surety and Casualty Company and Accredited Insurance (Europe) Limited (together, "Accredited") in connection with the Accredited acquisition by Onex Partners. As part of the transaction, Enstar will provide reinsurance cover for net reserves of approximately $234 million, with all administrative duties and claims handling transferring to Enstar. The cover addresses Accredited’s assumed and underwritten legacy deals, comprising diversified portfolios, including asbestos, general casualty, workers’ compensation, and other exposures in both the US and the UK/European markets.

AIG

Enstar completed an agreement with American International Group, Inc. (“AIG”) to provide protection to AIG on its retained exposure to adverse development in excess of the carried loss reserves on assumed reinsurance contracts underwritten by Validus Re (“subject reserves”), following the closing of AIG’s sale of Validus Re to RenaissanceRe. Enstar will cover adverse development in excess of the subject reserves up to a limit of $400 million.

RACQ

Enstar completed a loss portfolio transfer with RACQ Insurance Limited (“RACQ”) to reinsure 80% of RACQ’s motor vehicle compulsory third party insurance liabilities, covering accident years 2021 and prior. Enstar assumed $179 million of RACQ’s net loss reserves in the transaction.

QBE

Enstar completed a loss portfolio transfer with certain subsidiaries of QBE Insurance Group Limited (“QBE”), relating to a diversified portfolio of business underwritten between 2010 and 2020, covering International and North America financial lines, European and North American reinsurance portfolios, and several US discontinued programmes. Upon closing, a portion of the portfolio currently underwritten via QBE’s Lloyd’s Syndicates 386 and 2999 was reinsured to Enstar’s Syndicate 2008.

Enstar assumed $2.0 billion of QBE’s net loss reserves in this transaction.

Argo

Enstar completed a loss portfolio transfer ("LPT") with Argo to reinsure a number of its direct US casualty insurance portfolios, including construction, relating to accident years 2011 to 2019. Enstar assumed $718 million of Argo’s net loss reserves in the transaction.

Probitas

Enstar completed a loss portfolio transfer with Probitas Managing Agency Limited (“Probitas”), which subsequently converted into a RITC. Enstar assumed $61 million of net loss reserves with respect to the 2018 and prior year of account exposures of Probitas’ managed Syndicate 1492 which cover general liability and financial risks underwritten worldwide.

Aspen

Enstar completed a ground-up loss portfolio transfer ("LPT") with Aspen Insurance Holdings Limited and its subsidiaries for their 2019 and prior business. Our existing adverse development cover with Aspen, which had acquired reserves of $782 million and closed in June 2020, was absorbed into this LPT. Enstar assumed incremental net loss reserves of $1.9 billion with a diverse mix of property, liability and specialty lines of business, and assumed claims control.

RSA

Enstar completed an adverse development cover (“ADC”) with RSA. The ADC provides cover losses incurred on or prior to December 31, 2020 within a diversified portfolio of commercial and personal insurance lines risks for certain UK, Irish, and other business of RSA and its subsidiaries. We provided £400 million of cover in excess of a £2.595 billion retention. Enstar and RSA co-participate on the cover, with Enstar providing 50% and RSA retaining the remaining 50%.

ProSight

Enstar completed a transaction with ProSight Global, Inc. to provide reinsurance relating to 2019 and prior year business. The reinsurance comprises a ground up loss portfolio transfer of ProSight’s discontinued workers’ compensation and excess workers’ compensation lines of business and an adverse development cover on ProSight’s diversified mix of general liability classes of business. Enstar assumed net loss reserves of approximately $502 million and Enstar’s subsidiary will provide an additional aggregate limit of $250 million.

Hiscox

One of Enstar’s wholly-owned subsidiaries completed a loss portfolio transfer with Hiscox to reinsure a diversified portfolio of legacy insurance business underwritten by Hiscox Syndicate 3624, including the majority of Hiscox USA’s surplus lines broker business. Hiscox ceded net insurance reserves of approximately $532.4 million in the transaction.

Coca-Cola

Enstar completed a loss portfolio transfer with Coca-Cola to reinsure specified legacy US workers' compensation liability. Coca-Cola ceded net insurance reserves of approximately $42 million in the transaction.

AXA Group

Enstar completed a transaction with AXA to provide adverse development cover. Enstar assumed reinsurance losses incurred on or prior to December 31, 2019 on a diversified mix of global casualty and professional lines for a premium equal to the transfer of loss reserves of 90% of $1.550 billion (or $1.395 billion).

CNA

Enstar completed a loss portfolio transfer with Continental Casualty Company (“CNA”) to reinsure a legacy portfolio of excess workers’ compensation business. CNA ceded net insurance reserves of approximately $757 million in the transaction.

Liberty Mutual

Enstar’s wholly-owned subsidiary completed a loss portfolio transfer with Liberty Mutual Insurance Europe SE (LMIE) to reinsure a number of US energy liability, US construction liability and US homebuilders liability insurance portfolios that were previously written out of LMIE’s London branch. Enstar’s subsidiary assumed gross insurance reserves of approximately $389 million in the transaction.

Munich Re

Enstar completed a transaction with Great Lakes Insurance SE and HSB Engineering Insurance Limited, both subsidiaries of Munich Re, pursuant to which Enstar’s subsidiary has acquired certain portfolios from their Australian branches. In the transaction, Enstar’s subsidiary received total assets of approximately AUD$228.2 million (approximately $156.2 million), subject to a final roll-forward adjustment, for assuming the associated net reserves, which primarily relate to long tail insurance business.

AXA XL

Enstar completed a loss portfolio transfer reinsurance transaction with AXA XL, a division of AXA, to reinsure specified legacy construction general liability multi-year policies. We assumed reinsurance reserves of approximately $225.0 million in the transaction.

Aspen

Enstar completed an adverse development cover reinsurance transaction with Aspen Insurance Holdings Limited. Enstar reinsure losses incurred on or prior to December 31, 2019 on a diversified mix of property, liability and specialty lines across the US, UK and Europe for a premium of $770.0 million. We provided $770.0 million of cover in excess of a $3.8 billion retention, and an additional $250.0 million of cover in excess of a $4.8 billion retention.

Lyft

Enstar completed a novation agreement with affiliates of Lyft, Inc. (“Lyft”) and certain underwriting companies of Zurich North America (“Zurich”). Enstar reinsured legacy automobile business underwritten by Zurich between October 1, 2015 and September 30, 2018 and reinsured by Lyft’s wholly owned subsidiary, Pacific Valley Insurance Company ("PVIC") for consideration of $465.0 million. Under a separate agreement, PVIC will provide retrocession coverage to Enstar in excess of an $816.0 million limit.

BorgWarner Morse TEC

Enstar acquired Borgwarner Morse TEC, LLC (Morse TEC) from BorgWarner Inc. Morse TEC holds approximately $0.7 billion liabilities associated with personal injury asbestos claims and environmental claims arising from BorgWarner’s legacy manufacturing operations. Morse TEC's assets include, among others, insurance rights related to coverage against these liabilities and cash and marketable securities.

Zurich A & E

Enstar completed the reinsurance of a number of US asbestos and environmental liability insurance portfolios of Zurich Insurance Group. In the transaction, Enstar’s subsidiary assumed gross insurance reserves of approximately $0.6 billion, relating to 1986 and prior year business.

Maiden Re ADC

Enstar completed an adverse development cover reinsurance transaction with Maiden Reinsurance Ltd. (“Maiden Re”). The adverse development cover is with respect to Maiden Re’s quota share reinsurance contract with AmTrust Financial Services, Inc.’s Bermuda subsidiary (“AmTrust Bermuda”) for losses incurred on or prior to December 31, 2018 in excess of a $2.178 billion retention, up to a $600 million limit, in exchange for consideration of $445.0 million.

Amerisure

Enstar completed a loss portfolio transfer reinsurance agreement with Amerisure Mutual Insurance Company ("Amerisure") and Allianz Risk Transfer (Bermuda) Limited (“ART Bermuda”). In the transaction, Amerisure ceded, and each of Enstar and ART Bermuda severally assumed, a 50% quota share of the construction defect losses incurred by Amerisure and certain of its subsidiaries on or before December 31, 2012. We assumed $48.3 million of gross reserves in exchange for consideration of $45.5 million and recorded a deferred charge asset of $2.9 million.

AmTrust RITCs

Enstar completed four RITC transactions with Syndicates 1206, 1861, 2526 and 5820, managed by AmTrust Syndicates Limited, under which we reinsured to close the 2016 and prior underwriting years for each syndicate. We assumed aggregate gross loss reserves of £703.8 million ($897.1 million) and net loss reserves of £486.8 million ($620.4 million).

KaylaRe

Enstar acquired the remaining shares in KaylaRe, a Bermuda Class 4 reinsurer, not already owned by the company. The transaction allowed Enstar to take full ownership of an important reinsurance platform and enhance our group capital position and equity base.

Zurich

Enstar entered into an agreement to reinsure the New South Wales Motor Vehicle Compulsory Third Party (CTP) insurance business of Zurich Insurance Group. Enstar’s subsidiary will assume gross reinsurance reserves of AUD$359.4 million (approximately $280.8 million) relating to the CTP insurance business.

Neon

Enstar entered into a RITC transaction of the 2015 and prior-year’s underwriting account of Neon’s Syndicate 2468, comprising gross reserves of £403.9 million (approximately $546.3 million). This was a follow-on to the $158 million RITC entered into with Neon in 2016.

AXIS

Enstar entered into a RITC transaction of the 2015 and prior-year’s underwriting account of Lloyd’s Novae Syndicate 2007 managed by AXIS Managing Agency. Enstar assumed gross reserves of £860.1 million (approximately $1.2 billion).

Allianz

Enstar entered into an agreement with existing partner Allianz SE to reinsure a legacy portfolio of US workers’ compensation and asbestos, pollution and toxic tort business. Enstar’s subsidiary will assume net reinsurance reserves of approximately $81.4 million to cover 50% of Allianz’s subsidiary’s liabilities in these lines as a follow-on to the $2.2 billion reinsurance and consulting agreements we entered into with Allianz in 2016.

Pavonia

Enstar sold its subsidiary Pavonia Holdings (US), Inc. ("Pavonia") for a total purchase price of $120 million to an affiliate of Global Bankers Insurance Group ("Global Bankers"), the insurance and reinsurance group of companies of Eli Global, LLC. Pavonia owns Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of New York, and Enstar Life (US), Inc. Enstar originally acquired the Pavonia business from HSBC Finance in 2013.

RSA

Enstar reinsured UK employers’ liability legacy business of RSA Insurance Group PLC. Enstar’s subsidiary assumed gross insurance reserves of approximately £1,046.4 million (approximately $1.3 billion), relating to 2005 and prior year business.

QBE

Enstar reinsured multi-line property and casualty business of QBE Insurance Group Limited. Enstar’s subsidiary assumed gross reinsurance reserves of approximately $1.0 billion relating to the portfolio, which primarily includes workers' compensation, construction defect, and general liability discontinued lines of business.

Allianz SE

Enstar reinsured 50% of certain run-off portfolios of workers’ compensation, construction defect, and asbestos, pollution, and toxic tort business for Allianz AE, originally underwritten by Fireman’s Fund Ins. Co. Enstar assumed net reinsurance reserves of $1.1 billion. Enstar concurrently entered a claims consulting agreement with Allianz affiliate San Francisco Re. Co., which covers the entire portfolio.

Dana Companies, LLC

Enstar acquired Dana Companies, LLC from Dana Incorporated for a total purchase price of $88.5 million. Dana Companies holds liabilities associated with personal injury asbestos claims and environmental claims arising from its legacy automotive thermal-management manufacturing operations. Dana Companies' assets include, among others, insurance rights related to coverage against these liabilities and marketable securities.

Shelbourne RITC

Enstar entered into a RITC transaction of the 2007 and prior underwriting years of account of a Lloyd’s syndicate managed by Neon Underwriting Limited (formerly Marketform), under which we assumed total net insurance reserves of £121.5 million ($158.0 million) for cash consideration of an equal amount.

Shelbourne RITC

Shelbourne’s Lloyd’s syndicate 2008 provided a ‘reinsurance to close’ contract covering another Lloyd’s syndicate’s 2012 and prior underwriting years, and assumed total net insurance reserves of £17.2 million ($26.9 million) for consideration of an equal amount.

Reciprocal of America

Through Providence Washington Ins. Co., Enstar completed a loss portfolio transfer reinsurance for Reciprocal of America (in Receivership) and its Deputy Receiver relating to a portfolio of workers’ compensation business in run-off since 2003. Providence Washington assumed liabilities of $162.1 million for consideration of an equal amount.

Companion Property and Casualty

Enstar purchased Companion Property and Casualty Ins. Co. from Blue Cross and Blue Shield of South Carolina for $218 million. It was renamed Sussex Ins. Co. Much of the business is now in run-off, but some is renewed through StarStone National Ins. Co.

Wilton Re Life Settlements

Enstar acquired two Delaware companies from Wilton Re Ltd., that own interests in life insurance policies acquired in secondary markets and through collateralised lending. Enstar paid $173.0 million in two instalments.

Voya Financial/ReliaStar

Enstar entered 100% coinsurance and administration agreements with ReliaStar Life Ins. Co., a subsidiary of Voya Financial, Inc., that cover run-off workers’ compensation carve-out and occupational accident business of ReliaStar and its Canadian branch. Enstar assumed total gross discounted reinsurance reserves of $290 million.

Sun Life Assurance

Enstar underwrote two 100% reinsurance treaties and entered an administration agreement with Sun Life Assurance Co. of Canada and its US branch to cover Sun Life’s run-off workers’ compensation carve-out and occupational accident business. Enstar assumed gross reinsurance reserves of $128.3 million.

Nationale Suisse Assurance

Enstar acquired Belgian life and non-life insurer Nationale Suisse Assurance S.A. from Helvetia Group for €32.8 million ($35.2 million). It was renamed Alpha Insurance SA.

Torus

Enstar and the Trident V funds acquired Torus Insurance Holdings Ltd. through Bayshore Holdings Ltd. Enstar contributed cash of $41.6 million and 2.6 million Enstar shares, for a total consideration of $397.7 million. Trident contributed cash of $258.4 million. Torus was renamed StarStone in 2015.

Shelbourne RITC

Shelbourne’s Lloyd’s syndicate 2008 provided a ‘reinsurance to close’ contract covering another Lloyd’s syndicate’s 2011 and prior years, and assumed total gross insurance reserves of £17.0 million ($28.1 million) for consideration of an equal amount. It later provided a 100% quota-share reinsurance agreement with another Lloyd’s syndicate in respect of its 2009 and prior years of account, and assumed total gross insurance reserves of £193.0 million ($313.3 million) for consideration of an equal amount.

Atrium

Enstar and the Trident V funds acquired Atrium Underwriting Group Ltd., the Lloyd’s business that manages Syndicate 609 and provides approximately one quarter of the syndicate’s capital, for $158.0 million. Enstar’s share was $94.8 million. Following further transactions in 2014, Atrium parent company Northshore is owned by Enstar (59%), Trident (39.3%), and Dowling Capital Partners (1.7%).

Arden

Enstar and the Trident V funds acquired Bermuda-based Arden Re. Co. Ltd. through Northshore for $79.6 million, of which Enstar’s share was $47.8 million.

Pavonia

Enstar bought two Delaware-domiciled life insurers in run-off, Household Life Ins. Co. and HSBC Ins. Co., from Household Ins. Group Holding Co., an affiliate of HSBC Holdings plc, for $155.6 million. The purchase included three run-off subsidiaries in Michigan, New York, and Arizona. Known collectively as Pavonia, Enstar entered into an agreement to sell the companies in 2017.

SeaBright

Enstar purchased SeaBright Holdings (previously publicly traded in the US) and parent of Seabright Ins. Co., an Illinois insurer commercially domiciled in California that wrote workers’ compensation business, for $252.1 million.

Providence Washington

Enstar assigned and assumed a portfolio of workers’ compensation risk from American Physicians and parent of Assurance Corp. and APSpecialty Ins. Co. Total assets and liabilities assumed were $35.3 million.

Shelbourne RITC

Shelbourne’s Lloyd’s syndicate 2008 provided a ‘reinsurance to close’ contract covering another Lloyd’s syndicate’s 2009 underwriting year of account, and a 100% quota-share reinsurance agreement with a third Lloyd’s syndicate in respect of its 2010 underwriting year of account. Syndicate 2008 assumed gross insurance reserves of £33.8 million ($51.4 million) for consideration of an equal amount.

Shelbourne RITC

Shelbourne’s Lloyd’s Syndicate 2008 provided a 100% quota-share reinsurance agreement covering another Lloyd’s syndicate in respect of its 2009 and prior underwriting years of account. Syndicate 2008 assumed gross insurance reserves of £193.0 million ($313.3 million) for consideration of an equal amount.

Claremont novation

Claremont and certain of its reinsurers entered into a novation agreement with Enstar’s Fitzwilliam Ins. Ltd. with respect to a quota share contract. Fitzwilliam replaced the reinsurer in exchange for total assets and liabilities of $16.5 million.

Zurich Denmark portfolio transfer

Enstar’s Marlon acquired, by way of portfolio transfer under Danish law, a book of reinsurance and professional disability risk from the Danish branch of Zurich Ins. Co. Marlon received total assets and liabilities of $60.0 million.

Insurance Australia Group Limited

Enstar’s Gordian acquired an inwards reinsurance portfolio from Insurance Australia Group Ltd. via an Australian Federal Court approved scheme. Gordian received total assets and assumed total net reinsurance liabilities of $9.7 million ($10.0 million).

Claremont novation

Claremont and certain of its reinsurers entered into a novation agreement with Enstar’s Fitzwilliam Ins. Ltd. over three quota-share contracts. Fitzwilliam replaced the reinsurers in exchange for total assets and liabilities of $22.5 million.

Clarendon

Enstar purchased then New Jersey-domiciled run-off insurer Clarendon National Ins. Co for $219.1 million. Clarendon’s total assets and gross loss reserves were $1.91 billion and $1.65 billion respectively. Enstar subsequently redomiciled Clarendon to Illinois.

Laguna

Enstar acquired Irish run-off life insurer Laguna Life Ltd. (formerly CitiLife Financial Ltd.) for €15.0 million ($21.2 million).

Shelbourne RITC

Shelbourne’s Lloyd’s Syndicate 2008 provided ‘reinsurance to close’ agreements to two Lloyd’s syndicates and received total gross reserves of $129.6 million

Cigna

Enstar’s Fitzwilliam Ins. Ltd. underwrote a 100% reinsurance agreement and an administrative services contract with Cigna Corp. to cover its run-off workers’ compensation and personal accident reinsurance portfolio. Fitzwilliam received total assets and net reinsurance reserves of $190.5 million.

Claremont

California run-off insurer Claremont Liability Ins. Co. was purchased for $13.9 million. Claremont’s total assets and gross loss reserves were $61.7 million and $47.5 million respectively.

New Castle

Enstar acquired New Castle Re. Co. Ltd., a Bermuda run-off insurer, for $22.0 million. New Castle’s total assets and gross loss reserves were $61.9 million and $38.6 million respectively.

IICH

Enstar’s Fitzwilliam Ins. Ltd. underwrote a 100% quota-share reinsurance treaty for International Ins. Co. of Hannover to cover a portfolio of run-off business. Fitzwilliam received total assets and reinsurance reserves of $137.1 million.

Brampton

Enstar bought, from Shinsei Bank Ltd., the remaining 49.9% of Hillcot Holdings Ltd. It previously did not own. Hillcot owns UK run-off insurer Brampton. Assets acquired were $34.9 million.

Seaton

Enstar purchased the remaining 55.6% of Seaton Ins. Co. it previously did not own (see 2008).

Providence Washington

Enstar acquired P.W. Acquisition Co., which owns Rhode Island run-off insurer Providence Washington Ins. Co., for $25.0 million. PW’s total assets and gross loss reserves were $160.0 million and $120.7 million respectively.

Glacier

After Torus Insurance (Bermuda) Ltd. acquired Glacier Ins. AG, Enstar’s Fitzwilliam Ins. Ltd. underwrote two quota-share reinsurance treaties with Torus to protect prior-year reserve development of two Glacier risk portfolios. Fitzwilliam received total assets and gross reinsurance reserves of $105.0 million.

Bosworth

A portfolio of run-off business underwritten by Japan’s Mitsui Sumitomo Ins. Co., Ltd. was transferred to 50.1%-owned Enstar subsidiary Bosworth Run-off Ltd. under UK Part VII transfer regulations. Bosworth received total assets and net reinsurance reserves of $117.5 million.

Assuransinvest

Enstar acquired Swedish run-off reinsurer Forsakringsaktiebolaget Assuransinvest MF for SEK 78.8 million ($11.0 million). Assuransinvest’s total assets and gross loss reserves were $59.6 million and $45.0 million respectively.

Knapton

UK run-off reinsurer Knapton Ins. Ltd. (formerly British Engine Ins. Ltd.) was purchased from RSA Ins. Group plc for £28.8 million ($44.0 million). Knapton’s total assets and gross loss reserves were $279.5 million and $216.9 million respectively.

Shelbourne RITC

Shelbourne’s Lloyd’s Syndicate 2008 provided ‘reinsurance to close’ to three Lloyd’s syndicates and received gross insurance reserves of $192.6 million.

Allianz

Enstar’s Fitzwilliam Ins. Ltd. underwrote a 100% quota-share reinsurance treaty with Allianz Global Corporate & Specialty AG (UK) Branch to cover a portfolio of run-off business. Fitzwilliam received total assets and gross reinsurance reserves of $112.6 million.

Copenhagen Re

Danish run-off reinsurer Copenhagen Re. Co. Ltd. was acquired from Alm. Brand Forsikring A/S for DKK149.2 million ($29.9 million). Copenhagen Re’s total assets and gross loss reserves were $168.9 million and $115.3 million respectively.

Shelbourne RITC

Shelbourne’s Lloyd’s Syndicate 2008 provided ‘reinsurance to close’ for another Lloyd’s syndicate and received total gross insurance reserves of $67.0 million.

Constellation

Enstar bought New York run-off reinsurer Constellation Re. Co. Ltd. for $2.5 million. Constellation’s total assets and gross loss reserves were $14.6 million and $12.1 million respectively.

Unionamerica

Unionamerica Holdings Ltd., the run-off London Market business of St. Paul Fire and Marine Ins. Co., was acquired for $343.3 million. Unionamerica’s total assets and gross loss reserves were $1,196.0 million and $828.3 million respectively.

Hillcot Re

Enstar bought the remaining 49.9% of Hillcot Re Ltd. (see 2003) for $27.1 million, taking its share to 100%. Total assets and gross loss reserves acquired were $43.3 million and $14.2 million respectively.

Goshawk

In two stages, Enstar acquired 99.45% of Goshawk Ins. Holdings plc. for $86.7 million. Goshawk owns Rosemont Re. Ltd., a Bermuda run-off reinsurer. Goshawk’s total assets and gross loss reserves were $207.5 million and $80.1 million respectively.

Capital Assurance

Enstar bought Bermuda run-off insurer Capital Assurance Co. Inc. and Capital Assurance Services, Inc. for $5.6 million. Capital’s total assets and gross loss reserves were $32.6 million and $26.3 million respectively.

EPIC

Enstar purchased run-off insurer Electricity Producers Ins. Co. (Bermuda) Ltd. (EPIC) for £36.8 million ($69.0 million). EPIC’s total assets and gross loss reserves were $186.8 million and $108.6 million respectively.

Seaton and Stonewall

Enstar acquired 44.4% of Stonewall Acquisition Corp. from Dukes Place Holdings, LP for $21.4 million. Stonewall owned two Rhode Island-domiciled run-off insurers, Stonewall Ins. Co. and Seaton Ins. Co. Total assets and gross loss reserves acquired were $246.1 million and $217.0 million respectively. Stonewall Ins. Co. was sold in 2010.

Gordian

Enstar purchased AMP Ltd.’s Australian re/insurance company Gordian Run Off Ltd. for AU$436.9 million ($405.4 million). Gordian’s total assets and gross loss reserves were $1,003.7 million and $509.6 million respectively.

Guildhall

Enstar acquired UK re/insurer in run-off Guildhall Ins. Co. Ltd. for £33.4 million ($65.9 million). Guildhall’s total assets and gross loss reserves were $146.9 million and $79.1 million respectively.

Shelbourne RITC

Shelbourne’s Lloyd’s Syndicate 2008 provided ‘reinsurance to close’ for four Lloyd’s syndicates and received total gross insurance reserves of $471.2 million.

Shelbourne (Lloyd’s Syndicate 2008)

Enstar and co-investors formed Shelbourne Group Ltd. to underwrite and manage, through Shelbourne Syndicate 2008, ‘reinsurance to close’ (RITC) transactions for Lloyd’s syndicates.

Marlon

Enstar acquired UK re/insurer in run-off Marlon Ins. Co. Ltd. and Marlon Management Services Ltd. for $31.2 million. Marlon’s total assets and gross loss reserves were $83.5 million and $45.0 million respectively.

Tate & Lyle Re

Enstar purchased Bermuda run-off reinsurer Tate & Lyle Re. Ltd. for $5.9 million. Its total assets and gross loss reserves were $17.0 million and $11.1 million respectively.

Inter-Ocean

Enstar acquired Inter-Ocean Holdings Ltd for $57.5 million. Inter-Ocean owns run-off reinsurers in Bermuda and Ireland. Inter-Ocean’s total assets and gross loss reserves was $634.4 million and $415.5 million respectively.

EGI and BH

Enstar merged its subsidiary CWMS Subsidiary Corp. with The Enstar Group, Inc. (EGI). and we acquired the 55.0% of BH Acquisition Ltd. which Enstar did not already own, for $10.2 million, to bring our ownership to 100%. BH owns two insurance companies in run-off, Brittany Ins. Co. Ltd. (Bermuda), and Compagnie Europeenne d’Assurances Industrielles SA was redomiciled. The total assets and gross loss reserves of EGI and the remainder of BH were $542.6 million and $11.9 million, respectively.

Unione, Cavell and Brampton

Enstar acquired reinsurer in run-off Unione Italiana (UK) Re. Co. for $17.4 million; Cavell Holdings Ltd. (UK), which owns UK and Norwegian reinsurers in run-off, for $60.9 million; and, through Enstar’s Hillcot, UK reinsurer in run-off Brampton Ins. Co. Ltd. (formerly Aioi Ins. Co. of Europe Ltd.) for £62.0 million ($108.9 million). Together, the total assets and gross loss reserves of Unione, Cavell, and Brampton were $645.5 million and $422.6 million, respectively.

Fieldmill

Enstar acquired reinsurer in run-off Fieldmill Ins. Co. Ltd. (formerly Harleysville Ins. Co. (UK) Ltd.) for $1.4 million. Fieldmill’s total assets and gross loss reserves were $43.5 million and $42.0 million, respectively.

Mercantile, Harper, and Longmynd

Enstar acquired UK reinsurers in run-off Mercantile Indemnity Co. Ltd. and Harper Ins. Ltd. (formerly Turegum Ins. Co.), and Swiss re/insurer in run-off Longmynd Ins. Co. Ltd. (formerly Security Ins. Co. (UK) Ltd.) for $4.5 million. Together their total assets and gross loss reserves were $760.8 million and $732.8 million, respectively.

Hillcot Re

Enstar acquired 50.1% of Hillcot Re. Ltd. (formerly Toa-Re Ins. Co. (UK) Ltd.) in run-off for $46.4 million. Hillcot’s total assets and gross loss reserves were $179.2 million and $128.4 million respectively.

Hudson

Enstar completed the acquisition of Hudson Re. Co. Ltd. (Bermuda), in run-off, for $4.1 million. Hudson’s total assets and gross loss reserves were $40.7 million and $35.5 million respectively.

River Thames and Overseas Re

Two reinsurers in run-off, River Thames Ins. Co. Ltd. (UK) and Overseas Re. Corp. Ltd. (Bermuda), were purchased for $15.2 million. Their total assets and gross loss reserves were $429.3 million and $411.6 million respectively.