Enstar Group Limited Reports 2014 Year End Results
(Thomson Reuters ONE) -
Announces Expanded Revolving Credit Facility and Appointment of New Director
HAMILTON, Bermuda, March 2, 2015 (GLOBE NEWSWIRE) -- Enstar Group Limited
(Nasdaq:ESGR) filed its annual report on Form 10-K with the SEC earlier today,
reporting its earnings and financial position for the year ended December
31, 2014.
Enstar reported consolidated net earnings of $213.7 million (or $11.44 per fully
diluted share) for the year ended December 31, 2014 compared to $208.6 million
(or $12.49 per fully diluted share) for the year ended December 31, 2013.
Enstar's shareholders' equity at December 31, 2014 amounted to $2,304.9 million
(or $119.22 per fully diluted share), which was up from $1,755.5 million (or
$105.20 per fully diluted share) at December 31, 2013. The Form 10-K, 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 it has amended its revolving credit facility to
increase borrowing capacity from $500 million to $665 million. The amended
facility adds Lloyd's Bank plc to the existing lending syndicate of National
Australia Bank Limited, Barclays Bank PLC and Royal Bank of Canada.
In addition, Enstar appointed Rick Becker to its Board of Directors on February
25, 2015. Mr. Becker, 68, is the Chairman of Clarity Group, Inc., a U.S.
national healthcare professional liability and risk management organization
which he co-founded over 13 years ago. He has 35 years of experience within the
insurance and healthcare industries.
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, 2014, 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
(441) 292-3645
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This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Enstar Group Limited via GlobeNewswire
[HUG#1898903]
Unternehmensinformation / Kurzprofil:
Datum: 02.03.2015 - 22:30 Uhr
Sprache: Deutsch
News-ID 375550
Anzahl Zeichen: 3715
contact information:
Town:
Hamilton
Kategorie:
Business News
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"Enstar Group Limited Reports 2014 Year End Results"
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