Enstar
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The take-private is expected to close by mid-2025. -
The transactions will de-risk all North America middle-market reserves up to 30 June 2024.
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Plus the latest people moves and all the top news of the week.
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The firm escapes public market distractions and long-term undervaluation, but the low mark will hurt peer companies.
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The ratings agency said Sixth Street provides flexibility through long-dated capital.
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The company also announced a $5.1bn take private deal with Sixth Street.
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She will work on preparations for the take-private deal with Sixth Street before departing.
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The deal values the business just under its closing price on Friday, at 0.97x book value.
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The executive replaces interim CEO Paul Brockman, who remains group COO.
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A roundup of all the news you need today, including Enstar EU’s new CEO.
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The transaction with Enstar covers $234mn of net Accredited reserves.
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Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.
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