Enstar Group Closes Deal to Reinsure QBE Legacy Business

Bermuda-based Enstar Group Ltd. announced this week that one of its wholly owned subsidiaries has completed a previously announced transaction to reinsure multi-line property and casualty business of QBE Insurance Group Ltd. The closing followed receipt of regulatory approval and satisfaction of closing conditions. As previously disclosed, the portfolio primarily includes workers' compensation, construction defect and general liability discontinued lines of business. Enstar's subsidiary has also pledged a portion of the premium as collateral to a subsidiary of QBE, and has also prov...