DGAP-News: Enstar Group Limited Reports Third Quarter Results and Announces Appointment of James Carey as Director
(firmenpresse) - Enstar Group Limited
07.11.2013 23:00
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HAMILTON, Bermuda, 2013-11-07 23:00 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, 2013.
Enstar reported consolidated net earnings of $40.0 million (or $2.39 per fully
diluted share) for the three months ended September 30, 2013 and $71.1 million
(or $4.26 per fully diluted share) for the nine months ended September 30,
2013, compared to $47.7 million (or $2.86 per fully diluted share) for the
three months ended September 30, 2012 and $98.1 million (or $5.88 per fully
diluted share) for the nine months ended September 30, 2012.
Enstar's shareholders' equity at September 30, 2013 amounted to $1,617.9
million (or $96.95 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.
Enstar also announced that on November 6, 2013, it appointed James D. Carey to
its Board of Directors. Mr. Carey, 47, is a senior principal at Stone Point
Capital LLC, a financial services-focused private equity firm that manages
Trident V, L.P. and its affiliated funds, which collectively own approximately
9.7% of Enstar's voting ordinary shares. He previously served as a director of
Enstar from its formation in 2001 until 2007.
'We are very excited to welcome Jim back to our Board,' said Dominic Silvester,
Chief Executive Officer. 'We have worked with him successfully for many years.
He knows our business and has significant experience in the insurance industry,
which will be tremendously valuable to us as we continue to grow and evolve.'
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' insurance business, having acquired Arden Reinsurance Company Ltd.
and having entered into definitive agreements to acquire ongoing underwriters
Atrium Underwriting Group Ltd. and Torus Insurance Holdings Limited.
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 ororal 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
07.11.2013 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: 07.11.2013 - 23:00 Uhr
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News-ID 314223
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