Enstar Acquires Companion in $218 Million Deal

Enstar Group Limited, a Bermuda-based corporation that manages insurance companies, has purchased Companion Property and Casualty Insurance Co. for $218 million. Enstar will mostly use the South Carolina-based Companion as part of its property and casualty legacy business, according to a Tuesday press release. The parent company, which has acquired more than 60 companies and portfolios since it began in 2001, is looking at ways to fold certain Companion policies into its property and casualty carrier Torus. The deal will likely be paid for through a combination of on-hand cash and debt ...