DGAP-News: Enstar Group Limited Reports First Quarter Results
ID: 401075
06.05.2011 23:06
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HAMILTON, Bermuda, 2011-05-06 23:06 CEST (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 months ended March 31, 2011.
Enstar reported consolidated net earnings of $3.5 million (or $0.26 per fully
diluted share) for the three months ended March 31, 2011 compared to $15.9
million (or $1.15 per fully diluted share) for the three months ended March 31,
2010.
Enstar's shareholders' equity at March 31, 2011 amounted to $959.7 million
(excluding noncontrolling interest of $253.7 million) (or $72.11 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. 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 today that J. Christopher Flowers has resigned from
Enstar's board of directors. Mr. Flowers stated, 'I am delighted to have been
associated with Enstar's success over the last 15 years and am very proud of
Enstar's achievements. I believe that Enstar's business, management and
prospects are superlative, and that the company has never been in a stronger
position. I leave the board due to the demands of my many other business
matters, but I wish the company continued prosperity.'
Dominic Silvester, Enstar's Chairman and Chief Executive Officer, said, 'Chris
has been a valuable contributor to Enstar for over 15 years. During that time
Enstar has grown into a substantial company with considerable prospects and
opportunities and on behalf of our shareholders, board and management, I would
like to thank Chris for his many contributions and wish him well in his future
endeavors.'
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.
CONTACT: Richard J. Harris
Telephone: (441) 292-3645
News Source: NASDAQ OMX
06.05.2011 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: 06.05.2011 - 23:06 Uhr
Sprache: Deutsch
News-ID 401075
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Kategorie:
Wirtschaft (allg.)
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