The acquisition announced by Enstar Group Limited in September 2019 has now crossed the finish line, with one of its wholly-owned subsidiaries completing the transfer of certain portfolios from the Australian branches of Munich Re subsidiaries Great Lakes Insurance SE and HSB Engineering Insurance Limited.
“In the transaction, Enstar’s subsidiary received total assets of approximately AU$228.2 million (approximately US$156.2 million), subject to a final roll-forward adjustment, for assuming the associated net reserves, which primarily relate to long tail insurance business,” noted Enstar.
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