Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, announced that one of its wholly owned subsidiaries has closed its loss portfolio transfer transaction with specialty insurance underwriter Argo Group International Holdings Ltd. to reinsure a number of its direct U.S. casualty insurance portfolios relating to accident years 2011 to 2019.
Enstar’s subsidiary covers ground up reserves of $746 million and an additional $275 million of cover in excess of $821 million, up to a policy limit of $1.1 billion. Argo will retain a loss corridor of $75 million up to $821 million.
