DGAP-News: Enstar Group Limited Reports Second Quarter Results
(firmenpresse) - Enstar Group Limited
09.08.2013 22:30
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HAMILTON, Bermuda, 2013-08-09 22:30 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 and six months ended June 30, 2013.
Enstar reported consolidated net earnings of $19.2 million (or $1.15 per fully
diluted share) for the three months ended June 30, 2013 and $31.2 million (or
$1.87 per fully diluted share) for the six months ended June 30, 2013, compared
to $40.7 million (or $2.44 per fully diluted share) for the three months ended
June 30, 2012 and $50.4 million (or $3.02 per fully diluted share) for the six
months ended June 30, 2012.
Enstar's shareholders' equity at June 30, 2013 amounted to $1,568.9 million (or
$94.02 per fully diluted share), as compared to $1,553.8 million (or $93.30 per
fully diluted share) at December 31, 2012. 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.
Earlier today Enstar also filed an amendment to its quarterly report on Form
10-Q for the three months ended March 31, 2013 in order to amend and restate
its condensed consolidated balance sheet and related financial information. The
amended filing corrects a misstatement in the classification of certain
short-term and fixed maturity investments. The misstatement had no impact on
the total investments or total assets reported in the condensed consolidated
balance sheet as at March 31, 2013. The misstatement also did not impact
Enstar's revenue, net earnings, comprehensive income, or shareholders' equity.
The amended Form 10-Q for the three months ended March 31, 2013, which is
available on Enstar's website, contains a more detailed description of the
restatement.
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. Enstar recently announced its expansion
into live underwriting with its definitive agreements to acquire Atrium
Underwriting Group and Torus Insurance Holdings Limited, acquisitions which are
expected to close by the end of the year.
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. Investors are cautioned that
any such forward-looking statements speak only as of the date they are made,
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, 2012 and in Enstar's Form
10-Q for the period ended June 30, 2013; these risk factors 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
(441) 292-3645
News Source: NASDAQ OMX
09.08.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group 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: 09.08.2013 - 22:30 Uhr
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