{"id":841817,"date":"2025-04-24T16:21:45","date_gmt":"2025-04-24T20:21:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/axis-completes-previously-announced-transaction-with-enstar-2\/"},"modified":"2025-04-24T16:21:45","modified_gmt":"2025-04-24T20:21:45","slug":"axis-completes-previously-announced-transaction-with-enstar-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/axis-completes-previously-announced-transaction-with-enstar-2\/","title":{"rendered":"AXIS Completes Previously Announced Transaction With Enstar"},"content":{"rendered":"
\n

PEMBROKE, Bermuda, April 24, 2025 (GLOBE NEWSWIRE) — AXIS Capital Holdings Limited\u00a0(\u201cAXIS Capital\u201d or \u201cAXIS\u201d or the \u201cCompany\u201d) (NYSE: AXS) and Enstar Group Limited (\u201cEnstar\u201d) (Nasdaq: ESGR) announced today that they have completed a loss portfolio transfer (\u201cLPT\u201d) transaction, covering reinsurance segment reserves predominantly attributable to casualty portfolios related to 2021 and prior underwriting years.<\/p>\n

The LPT reinsurance agreement covers reinsurance segment reserves totalling $3.1 billion at September 30, 2024, and is structured as a 75% ground-up quota share, with AXIS retroceding $2.3 billion of reinsurance segment reserves to Enstar.<\/p>\n

The LPT reinsurance agreement was provided by Enstar\u2019s wholly owned subsidiary, Cavello Bay Reinsurance Limited, which has S&P and AM Best ‘A’\u00a0financial strength ratings.<\/p>\n

Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions.<\/p>\n

\n About\u00a0AXIS Capital<\/strong>
\n
AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders’ equity of\u00a0$6.1 billion\u00a0at\u00a0September 30, 2024, and locations in\u00a0Bermuda,\u00a0the United States,\u00a0Europe,\u00a0Singapore, and\u00a0Canada. Its operating subsidiaries have been assigned a financial strength rating of “A+” (“Strong”) by\u00a0Standard & Poor’s\u00a0and “A” (“Excellent”) by\u00a0A.M. Best. For more information about\u00a0AXIS Capital, visit our website at\u00a0www.axiscapital.com<\/a>.<\/p>\n

\n About Enstar<\/strong>\n <\/p>\n

Enstar is a NASDAQ-listed global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Australia, Lichtenstein and Belgium. 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.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n AXIS Contacts:<\/strong>\n <\/td>\n\n Enstar Contacts:<\/strong>\n <\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
\n For Investors:<\/strong>\n <\/td>\n\n For Investors:<\/strong>\n <\/td>\n<\/tr>\n
Cliff Gallant<\/td>\nMatthew Kirk<\/td>\n<\/tr>\n
+1 (415) 262-6843<\/td>\n+1 (201) 743-7734<\/td>\n<\/tr>\n
\n investorrelations@axiscapital.com<\/a>\u00a0<\/td>\n\n investor.relations@enstargroup.com<\/a>\u00a0<\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
\n For Media:\u00a0<\/strong>\n <\/td>\n\n For Media:\u00a0<\/strong>\n <\/td>\n<\/tr>\n
Nichola Liboro\u00a0<\/td>\nJenna Kerr<\/td>\n<\/tr>\n
+1 (917) 705-4579<\/td>\n+44 (0) 771-4487-187<\/td>\n<\/tr>\n
\n nichola.liboro@axiscapital.com<\/a>
\n \n <\/td>\n		\n communications@enstargroup.com<\/a>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PEMBROKE, Bermuda, April 24, 2025 (GLOBE NEWSWIRE) — AXIS Capital Holdings Limited\u00a0(\u201cAXIS Capital\u201d or \u201cAXIS\u201d or the \u201cCompany\u201d) (NYSE: AXS) and Enstar Group Limited (\u201cEnstar\u201d) (Nasdaq: ESGR) announced today that they have completed a loss portfolio transfer (\u201cLPT\u201d) transaction, covering reinsurance segment reserves predominantly attributable to casualty portfolios related to 2021 and prior underwriting years. The LPT reinsurance agreement covers reinsurance segment reserves totalling $3.1 billion at September 30, 2024, and is structured as a 75% ground-up quota share, with AXIS retroceding $2.3 billion of reinsurance segment reserves to Enstar. The LPT reinsurance agreement was provided by Enstar\u2019s wholly owned subsidiary, Cavello Bay Reinsurance Limited, which has S&P and AM Best ‘A’\u00a0financial strength ratings. Completion of the transaction followed receipt … <\/p>\n

Continue reading “AXIS Completes Previously Announced Transaction With Enstar”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-841817","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAXIS Completes Previously Announced Transaction With Enstar - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/axis-completes-previously-announced-transaction-with-enstar-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AXIS Completes Previously Announced Transaction With Enstar - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PEMBROKE, Bermuda, April 24, 2025 (GLOBE NEWSWIRE) — AXIS Capital Holdings Limited\u00a0(\u201cAXIS Capital\u201d or \u201cAXIS\u201d or the \u201cCompany\u201d) (NYSE: AXS) and Enstar Group Limited (\u201cEnstar\u201d) (Nasdaq: ESGR) announced today that they have completed a loss portfolio transfer (\u201cLPT\u201d) transaction, covering reinsurance segment reserves predominantly attributable to casualty portfolios related to 2021 and prior underwriting years. The LPT reinsurance agreement covers reinsurance segment reserves totalling $3.1 billion at September 30, 2024, and is structured as a 75% ground-up quota share, with AXIS retroceding $2.3 billion of reinsurance segment reserves to Enstar. The LPT reinsurance agreement was provided by Enstar\u2019s wholly owned subsidiary, Cavello Bay Reinsurance Limited, which has S&P and AM Best ‘A’\u00a0financial strength ratings. 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