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Enstar Completes Loss Portfolio Transfer With QBE

1. Enstar completed a loss portfolio transfer with QBE Insurance Group. 2. QBE ceded net reserves of approximately $376 million to Enstar. 3. Enstar provided around $175 million of coverage exceeding ceded reserves. 4. This deal enhances Enstar's position in the commercial liability sector. 5. Enstar continues leadership in legacy acquisitions with 120 completed to date.

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FAQ

Why Bullish?

The successful reinsurance agreement is likely to improve Enstar's financial stability. Similar past deals have positively influenced stock performance.

How important is it?

The deal adds significant reserves and enhances operational capacity, crucial for investors.

Why Long Term?

The transaction reinforces Enstar's market position and revenue potential over time. Historical acquisitions have shown sustained growth following similar agreements.

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QBE
October 31, 2024 16:15 ET | Source: Enstar Group Limited HAMILTON, Bermuda, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly-owned subsidiaries has closed a previously announced ground-up loss portfolio transfer transaction with subsidiaries of QBE Insurance Group Limited (“QBE”) to reinsure a portfolio of US commercial liability and workers’ compensation business, largely underwritten on recently discontinued programs. Under the reinsurance agreement, QBE ceded net reserves of approximately $376 million, and Enstar’s subsidiary provided approximately $175 million of cover in excess of the ceded reserves. Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions. About Enstar Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its 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 120 companies and portfolios since its formation in 2001. For further information about Enstar, see www.enstargroup.com. Contact: For Enstar: For Investors: Matthew Kirk (investor.relations@enstargroup.com) For Media: Jenna Kerr (communications@enstargroup.com) Contact:Enstar CommunicationsTelephone:+1 (441) 292-3645

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