Enstar Group Limited Completes Acquisition of Nationale Suisse Assurance S.A. from Helvetia Group
(Thomson Reuters ONE) -
HAMILTON, Bermuda, Nov. 13, 2015 (GLOBE NEWSWIRE) -- Enstar Group Limited
("Enstar") (Nasdaq:ESGR) announced today that one of its wholly owned
subsidiaries completed the previously announced acquisition of Nationale Suisse
Assurance S.A. ("Nationale Suisse") from Helvetia Group. Nationale Suisse is a
Belgium-based insurance company writing non-life and life insurance business.
Upon the completion of the acquisition, Nationale Suisse has been renamed Alpha
Insurance S.A.
As part of the transaction, an Enstar subsidiary within the StarStone Group
acquired Nationale Suisse's two underwriting agencies, Vander Haeghen & Co and
Arena. Vander Haeghen & Co specializes in luxury car and other specialist
insurance products and Arena is a leading sports club insurance agency.
Enstar will operate Nationale Suisse as part of its legacy businesses, while
working to ensure policyholders continue to receive excellent service.
StarStone's A.M. Best A- rated European insurance platform has been renewing
certain lines of business previously underwritten by Nationale Suisse, including
the business placed by Vander Haeghen & Co and Arena.
The total consideration for the transaction is expected to be ?39.7 million
(approximately US$44.4 million) after post-closing adjustments.
Enstar Group Limited and its operating subsidiaries acquire and manage
diversified insurance businesses through a network of service companies in
Bermuda, the United States, the United Kingdom, Continental Europe, Australia,
and other international locations. Enstar is a market leader in completing
legacy acquisitions, having acquired over 70 companies and portfolios since its
formation in 2001. Enstar's active underwriting businesses include the Atrium
group of companies, which manage and underwrite specialist insurance and
reinsurance business for Lloyd's Syndicate 609, and the StarStone group of
companies, an A- rated global specialty insurance group with multiple global
underwriting platforms. For further information about Enstar,
see www.enstargroup.com.
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 Form 10-Q for the quarterly period ended
June 30, 2015, 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: Mark Smith
Telephone: (441) 292-3645
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#1966872]
Unternehmensinformation / Kurzprofil:
Datum: 13.11.2015 - 23:05 Uhr
Sprache: Deutsch
News-ID 434609
Anzahl Zeichen: 4220
contact information:
Town:
Hamilton
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 244 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Enstar Group Limited Completes Acquisition of Nationale Suisse Assurance S.A. from Helvetia Group"
steht unter der journalistisch-redaktionellen Verantwortung von
Enstar Group Limited (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
