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Enstar Completes Previously Announced Transaction with Atrium Syndicate 609

1. Enstar completed a transaction with Atrium Syndicate 609 for $196 million. 2. The deal involved net loss reserves transferred to Enstar's Syndicate 2008. 3. Claims handling for the ceded reserves will now be managed by Enstar. 4. Regulatory approvals were received, finalizing the closing conditions. 5. Enstar remains a leader in legacy acquisitions and capital release solutions.

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$330.5503/04 04:18 PM EDTEvent Start
$331.0103/05 10:42 PM EDTLatest Updated
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FAQ

Why Bullish?

The $196 million transaction enhances Enstar's financial position, aligning with growth strategies similar to past successful deals.

How important is it?

The transaction enhances growth outlook and investor confidence, which is crucial to ESGR's valuation.

Why Short Term?

Immediate gains are expected from the new reserves; investor sentiment can shift quickly.

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ATRLENDBEAT
March 04, 2025 16:05 ET  | Source: Enstar Group Limited HAMILTON, Bermuda, March 04, 2025 (GLOBE NEWSWIRE) -- Enstar Group Limited (“Enstar”) (Nasdaq: ESGR) announced today its Lloyd’s syndicate (“Syndicate 2008”), managed by Enstar Managing Agency Limited, has completed the previously announced transaction with Atrium Syndicate 609, managed by Atrium Underwriters Limited. Under the terms of the loss portfolio transfer agreement, Atrium Syndicate 609 ceded net loss reserves of approximately $196 million, based on Atrium’s carried reserves as at Q3 2024, to Enstar’s Syndicate 2008. The reinsurance relates to business underwritten in the 2023 and prior years of account, with all claims handling transferring to Syndicate 2008. 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 more than 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)

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