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21 May 2012

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Enstar kicks off 2011 with legacy M&A flurry

13 January 2011

JC Flowers-backed legacy specialist Enstar Group has started 2011 with a flurry of activity, following a $200mn deal last month to buy all the operational companies of Hannover Re's US insurer in run-off Clarendon Insurance Group at a discount to book.

Hannover Re said the purchase price for Clarendon was equivalent to roughly 80 percent of its statutory equity.

The Bermudian firm also agreed on 4 January to enter into a reinsurance agreement with CIGNA to acquire its run-off workers&...

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