A subsidiary of Enstar Group has agreed to acquire certain portfolios from Munich Re’s Australian branches of Great Lakes Insurance and HSB Engineering Insurance, primarily of long tail insurance business.
The deal, subject to regulatory and Federal Court of Australia approval, will grant Enstar’s subsidiary with total assets of approximately $228.2 million for assuming the associated net insurance reserves.
Enstar is a Bermuda-based insurance group that offers innovative capital release solutions and specialty underwriting capabilities through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations.
