Enstar subsidiary providing protection to AIG on Validus Re deal
Updated: Nov 06, 2023 09:00 PM
The American International Building on Richmond Road in Pembroke (File photograph)
A wholly owned subsidiary of Bermudian-based insurer Enstar Group Limited has closed the previously announced transaction with American International Group Inc to provide protection to AIG on its retained exposure to adverse development on Validus Re’s loss reserves.
The company said the cover became effective as of the closing of AIG’s sale of Validus Re to RenaissanceRe on November 1, when all regulatory approvals were obtained and all closing conditions were satisfied.
Enstar is a Nasdaq-listed global (re)insurance group that offers capital release solutions through its network of group companies in Bermuda, the United States, Britain, continental Europe and Australia.
Comments
Published November 06, 2023 at 2:50 pm (Updated November 06, 2023 at 9:00 pm)
What you
Need to
Know
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon
