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Enstar subsidiary completes portfolio transfer with Hiscox

A subsidiary of Bermudian-based Enstar Group Ltd has completed a loss portfolio transfer with Hiscox Ltd, the global specialty insurer headquartered on the island.

The company said Enstar Syndicate 2008 has reinsured a diversified portfolio of legacy insurance business underwritten by Hiscox Syndicate 3624, including the majority of Hiscox USA’s surplus lines broker business.

Through the transaction, Enstar said Hiscox has ceded net insurance reserves of approximately $520 million at December 31 2020 relating to 2019 and prior-year business.

Done deal: Enstar has entered into a loss portfolio transfer with Hiscox

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Published June 03, 2021 at 2:21 pm (Updated June 03, 2021 at 2:22 pm)

Enstar subsidiary completes portfolio transfer with Hiscox

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