HAMILTON, Bermuda, Aug. 04, 2021 (GLOBE NEWSWIRE) — Enstar Group Limited (NASDAQ: ESGR) announced today that one of its wholly owned subsidiaries has completed a transaction with ProSight Global, Inc. (“ProSight”) 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.
In the transaction, Enstar’s subsidiary assumed net loss reserves of approximately $500 million and Enstar’s subsidiary will provide an additional aggregate limit of $250 million.
