Enstar Group’s Lloyd’s Syndicate 2008 has agreed a ground-up loss portfolio transfer (LPT) with Atrium Syndicate 609.
Legacy
Wefox Insurance AG – the Liechtenstein-domiciled insurance carrier of Wefox Group – has struck a deal to transfer a run-off portfolio to legacy acquirer Darag.
Bermudian reinsurer James River has successfully completed the previously announced adverse development reinsurance agreement and secured a $12.5mn equity investment with Enstar Group.
RiverStone International has agreed to a loss portfolio transfer (LPT) and an insurance business transfer with the French branch of Zurich Insurance Europe and Zurich Insurance Company.
Legacy specialist Darag has completed the sale of its North American and Bermudian operations to RiverStone Group.
Legacy specialist Marco Capital has officially closed its £11.25mn takeover of Inceptum Insurance from Bermuda-based R&Q.
Legacy market activity kicked up a gear in the third quarter of 2024 with 15 deals announced totalling $2.6bn in gross reserves transacted, according to PwC.
Legacy specialist Enstar has acquired a Bermuda-domiciled Class 3B insurer and segregated accounts company through its subsidiary Cavello Bay reinsurance.
RiverStone International has closed its $1.2bn loss portfolio transfer (LPT) for various QBE subsidiaries after receiving all requisite approvals.
Ambac Financial Group shareholders have approved the proposed sale of its legacy financial guarantee businesses, Ambac Assurance Corporation and Ambac Assurance UK Limited, to funds managed by Oaktree Capital Management.
