Profits are up at Bermuda-based run-off specialist Enstar Group Ltd.The firm has reported net earnings of $168 million in 2012, which represents $10.10 per fully consolidated share. In 2011 Enstar’s net earnings were $153.7 million.Enstar acquires and manages insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off, as well as providing management, consultancy and other services to the sector.In the company’s annual report on Form 10-K, filed with the US Securities and Exchange Commission on Friday, it reported its total assets were around $700m lower year-on-year at $5.88 billion compared to $6.6 billion, however its liabilities have also fallen from $4.2 billion to $3.66 billion.Enstar’s shareholders’ equity as of December 31, 2012 amounted to $1.55 billion, or $93.30 per fully diluted share, which was up on the 2011 figure of $1.38 billion.