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The unusual development follows the close of five run-off years during 2018. -
The planned disposal would be the latest in a series of run-off sales at the global insurer.
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Forging CTMA and the Standard Syndicate into a dedicated Lloyd's run-off player would add useful new capacity.
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The legacy carrier and ART Bermuda will each assume a 50 percent quota share of construction defect losses incurred by Amerisure.
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StarStone generates a loss to its majority owner of $159mn after its management team is restructured.
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The syndicate was unable to abide by the unwritten rules that govern all new Lloyd's businesses.
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Private equity and in-market consolidators look to profit as Lloyd’s challenges provoke evolution of ownership structure.
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Enstar assumes reinsurance reserves of £650mn through the transactions.
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The legacy carrier has issued £100mn in new shares and will offer shareholders an additional £7mn of equity.
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The insurer’s new £500mn legacy sell-off brings into focus the £55bn reserve pot on Lime Street.
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The carrier is exploring a deal for around £500mn of reserves, with Enstar considered favourite for this as well as the smaller Doré book.
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The Milan-based carrier has finalised the agreement, following over a year of exclusive talks.
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