Enstar Group, through its subsidiary Providence Washington Insurance Co., has taken on $163.8 million in run-off workers' compensation liabilities from the insolvent carrier Reciprocal of America.
Reciprocal went insolvent in 2003, but as of 2012 had yet to make payments to 5% of its policyholders, the National Conference of Insurance Guaranty Funds reported in August 2014. Enstar Chief Executive Officer Dominic Silvester said in a Thursday press release that the transfer of Reciprocal's liabilities to Providence will help the company along the road to final liquidation.
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