DGAP-News: Enstar Group Limited Reports Third Quarter Results and Appointment of New Chairman

(firmenpresse) - Enstar Group Limited

04.11.2011 22:15
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HAMILTON, Bermuda, 2011-11-04 22:15 CET (GLOBE NEWSWIRE) --
Enstar Group Limited (Nasdaq:ESGR) filed its quarterly report on Form 10-Q with
the SEC earlier today, reporting its earnings and financial position for the
three and nine months ended September 30, 2011.

Enstar reported consolidated net earnings of $12.1 million (or $0.83 per fully
diluted share) for the three months ended September 30, 2011 and $24.9 million
(or $1.78 per fully diluted share) for the nine months ended September 30,
2011, compared to $21.4 million (or $1.53 per fully diluted share) for the
three months ended September 30, 2010 and $49.8 million (or $3.57 per fully
diluted share) for the nine months ended September 30, 2010.

Enstar's shareholders' equity at September 30, 2011 amounted to $1,072.7
million (excluding noncontrolling interest of $264.8 million) (or $73.50 per
fully diluted share), up from $948.4 million (excluding noncontrolling interest
of $267.4 million) (or $71.68 per fully diluted share) at December 31, 2010.
Shareholders' equity increased at September 30, 2011 due primarily to the first
closing of the previously announced investment in Enstar by certain affiliates
of Goldman, Sachs&Co. that occurred on April 20, 2011. The Form 10-Q, which
is available on Enstar's website, www.enstargroup.com, contains a more detailed
description of Enstar's business and financial results.

Enstar also announced that on November 2, 2011, the Board of Directors
separated the positions of Chairman and Chief Executive Officer by appointing
current director Robert J. Campbell as the new Chairman of the Board of
Directors. Dominic F. Silvester will continue as Chief Executive Officer and a
director of Enstar.

Enstar, a Bermuda company, acquires and manages insurance and reinsurance


companies in run-off and portfolios of insurance and reinsurance business in
run-off, and provides management, consultancy and other services to the
insurance and reinsurance industry.

The Enstar Group Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5734

This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements include statements regarding the intent, belief or current
expectations of Enstar and its management team. Prospective investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors. Important risk factors regarding Enstar may be found
under the heading 'Risk Factors' in Enstar's Form 10-K for the year ended
December 31, 2010, and are incorporated herein by reference. Furthermore,
Enstar undertakes no obligation to update any written or oral forward-looking
statements or publicly announce any updates or revisions to any of the
forward-looking statements contained herein, to reflect any change in its
expectations with regard thereto or any change in events, conditions,
circumstances or assumptions underlying such statements, except as required by
law.


Richard J. Harris
(441) 292-3645
News Source: NASDAQ OMX



04.11.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Enstar Group Limited


Bermuda
Phone:
Fax:
E-mail:
Internet:
ISIN: BMG3075P1014
WKN:

End of Announcement DGAP News-Service

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Datum: 04.11.2011 - 22:15 Uhr
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News-ID 513812
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