This Slide: #22 of 57 |
Slide #22. Enstar Group Limited — Torus Insurance Holdings Limited
Acquirer:
Enstar Group Limited (NASDAQ:ESGR)
Acquiree:
Torus Insurance Holdings Limited
Details:
Enstar Group Limited ("Enstar") (Nasdaq:ESGR) announced today that it has entered into a definitive agreement to acquire global specialty insurer Torus Insurance Holdings Limited ("Torus"). Torus is the holding company of six wholly owned insurance vehicles, including one Lloyd's syndicate. The total consideration for the transaction is $692 million.
Enstar Group is a holding company. Co. is a multi-faceted insurance group that provides capital release solutions and underwriting capabilities through its network of group companies. Co.'s segments are: Non-life Run-off, which comprises the operations of its subsidiaries that are running off their property and casualty and other non-life business; Atrium Underwriting Group Limited, which provides marine, aviation and transit, binding authorities, reinsurance, accident and health, and non-marine direct and facultative lines of business; and StarStone Insurance Bermuda Limited, which provides casualty, marine, property, aerospace, and workers' compensation lines of business.
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: ESGR Stock Forecast Based on Zacks ABR data; powered by Xignite |