Enstar completes $400m LPT with SiriusPoint
- May 24, 2025
- Posted by: Saumya Jain
- Category: Insurance
A wholly owned subsidiary of legacy specialist Enstar Group has closed the previously announced $400 million loss portfolio transfer (LPT) with a subsidiary of Bermuda-based insurer and reinsurer, SiriusPoint.
This transaction sees Enstar’s subsidiary reinsure a $400 million portfolio of workers’ compensation business, covering the underwriting years 2018 to 2023.
Under the reinsurance agreement, SiriusPoint will cede net reserves of approximately $400 million, while Enstar’s subsidiary will provide approximately $200 million of cover in excess of the ceded reserves, and claims management is also transferred to Enstar.
The completion of this LPT follows the receipt of regulatory approvals and the satisfaction of various other closing conditions.
The reinsurance broking arm of Marsh McLennan, Guy Carpenter, acted as the broker for this transaction.
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