A wholly-owned subsidiary of Enstar Group Limited has completed a previously announced transaction to reinsure a number of the U.S. asbestos and environmental liability insurance portfolios of Zurich North America.
In the transaction, Enstar's subsidiary assumed gross insurance reserves of approximately $0.5 billion, relating to 1986 and prior year business.
Completion of the transaction followed receipt of regulatory approvals and satisfaction of various other closing conditions, Enstar said.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].