Bermuda-based Enstar Group Ltd reported net earnings rose to $9.7 million in the first quarter of 2011, compared to $3.5 million in the same period last year.Enstar, which acquires and manages insurance and reinsurance companies in run-off, also said shareholders’ equity at March 31, 2012 grew to $1.4 billion from $1.39 billion at the end of 2011, excluding non-controlling interests.The company derived its income from consulting fees of $2.2 million, net investment income of $22.8 million and net realised and unrealised gains of $23 million.