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In its first deal, Enstar received $350mn in premium for certain 2019 and 2020 business in AlphaCat’s portfolio. -
Reserve risk specialist Enstar has struck its first deals in the ILS space this year.
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The deal freed up capital held against deals written in 2019 and 2020.
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The James River-Long Tail Re deal is the latest example of deal-specific investor capital.
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ILS investors’ stress over Gibson Re is unlikely to inhibit legacy ILS’s future.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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CEO Booth said there is “continued interest” in the NA captive market.
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The first edition of the vehicle has generated fee income of $29mn to date.
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The carrier has agreed to acquire the former Credit Suisse ILS unit, following the acquisition of sister company Humboldt Re in 2021.
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The CEO received $3.9mn in shares alongside his salary and bonus.
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The company believes the program management and legacy businesses would work better as standalone operations.
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The deal provides collateralised backing for Riverstone’s mammoth £1.2bn reinsurance-to-close deal struck for MS Amlin and other transactions.
