Enstar Group Ltd Completes Major Reinsurance Transaction with AXIS Capital

April 24, 2025 — Enstar Group Ltd (Nasdaq: ESGR), a leading financial services company specializing in insurance and reinsurance, has successfully completed a significant loss portfolio transfer (LPT) transaction with AXIS Capital Holdings Limited (NYSE: AXS). This transaction, announced on April 24, 2025, involves the transfer of reinsurance segment reserves predominantly related to casualty portfolios from 2021 and earlier underwriting years.

The LPT reinsurance agreement, finalized on September 30, 2024, encompasses reserves totaling $3.1 billion. Structured as a 75% ground-up quota share, Enstar’s wholly owned subsidiary, Cavello Bay Reinsurance Limited, provided the reinsurance. Under the terms of the agreement, AXIS retroceded $2.3 billion of these reserves to Enstar. Cavello Bay Reinsurance Limited holds strong financial strength ratings of ‘A’ from both S&P and AM Best, underscoring the robustness of the transaction.

The completion of this transaction followed the receipt of necessary regulatory approvals and the satisfaction of various closing conditions. This strategic move is expected to enhance Enstar’s portfolio management capabilities, particularly in handling run-off companies, and further solidify its position in the global insurance and reinsurance market.

Enstar Group Ltd, headquartered in Hamilton, Bermuda, operates primarily in the insurance and reinsurance sectors. As of April 22, 2025, the company’s stock closed at $334.15, with a market capitalization of approximately $4.96 billion. The company maintains a price-to-earnings ratio of 7.79249, reflecting its financial health and market position.

AXIS Capital, a global specialty underwriter and provider of insurance and reinsurance solutions, has a shareholders’ equity of $6.1 billion as of September 30, 2024. The company operates in multiple regions, including Bermuda, the United States, Europe, Singapore, and Canada, and its subsidiaries are recognized for their financial strength.

This transaction marks a significant development in the reinsurance landscape, highlighting the collaborative efforts between Enstar and AXIS Capital to manage and mitigate risks effectively. For more information about Enstar Group Ltd, visit their website at www.enstargroup.com .

This article provides a comprehensive overview of the recent transaction between Enstar Group Ltd and AXIS Capital, emphasizing the key financial details and strategic implications for both companies.