Enstar Completes Transaction with Atrium Syndicate 609
Deal News | Mar 04, 2025 | Globenewswire
Enstar Group Limited has announced the completion of its previously disclosed transaction with Atrium Syndicate 609. The transaction involves a loss portfolio transfer agreement in which Atrium Syndicate 609 ceded net loss reserves of approximately $196 million to Enstar's Syndicate 2008. This reinsurance pertains to business underwritten in 2023 and prior. All claims handling related to these accounts has been transferred to Syndicate 2008. The completion followed necessary regulatory approvals and other closing conditions. Enstar Group is a significant player in the global insurance domain, known for innovative capital release solutions and has acquired over 120 companies since inception.
Sectors
- Insurance
- Financial Services
Geography
- Bermuda – Enstar Group is headquartered in Bermuda and the transaction announcement was made from there.
- United Kingdom – The transaction involves Enstar's Syndicate 2008 managed under London’s Lloyds, which is based in the UK.
Industry
- Insurance – The transaction involves a loss portfolio transfer, which is a common activity in the insurance industry for managing claims and reserves.
- Financial Services – Enstar is a global insurance group providing financial solutions such as capital release and management of legacy portfolios.
Financials
- $196 million – The net loss reserves ceded by Atrium Syndicate 609 to Enstar's Syndicate 2008.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Enstar Group Limited | Acquiring Company | Company | A leading global insurance group offering innovative capital release solutions. |
| Atrium Syndicate 609 | Ceding Company | Company | Part of Atrium Underwriters Limited, involved in the transaction to cede loss reserves to Enstar. |
| Syndicate 2008 | Reinsuring Entity | Company | A Lloyds syndicate managed by Enstar, which is taking over the loss reserves. |