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The deal adds four run-off books to the legacy carrier.
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Enstar partnered with the Stone Point-managed Trident V funds to contribute the additional capital.
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Some will interpret the planned disposal as a positive sign the continental European legacy market is opening up.
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The portfolio for sale holds EUR90mn of Irish public liability and employers' liability exposures.
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Arndt Gossmann has teamed up with Munich Re on the start-up. -
The Standard Syndicate run-off goes to the very heart of the fundamental question of what Lloyd’s is supposed to be.
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Lloyd's life syndicates set to dwindle to two amid licensing issues.
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The additional $700mn in equity committed by Apollo is a huge vote of confidence in Catalina and the legacy market.
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The broker anticipates increased demand for legacy liability transfers.
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The extra committed equity provides the run-off acquirer with greater firepower for larger deals.
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The agreement for the casualty facultative reinsurance business comes after up-for-sale Maiden struck deals with Enstar and TransRe.
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The first court hearing will take place next month for a transfer the Corporation hopes to complete by the end of 2020, CFO John Parry says.
