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2017-02-08

Enstar Group Limited: Enstar Group Limited Announces Reinsurance of £957 Million of RSA's Legacy U.K. Employer's Liability Business

HAMILTON, Bermuda, Feb. 07, 2017 (GLOBE NEWSWIRE) -- Enstar Group Limited
(Nasdaq:ESGR) announced today that one of its wholly owned subsidiaries has
signed an agreement to reinsure RSA Insurance Group PLC's ("RSA") U.K.
employers' liability legacy business.

Enstar's subsidiary will assume gross insurance reserves of approximately £957
million (approximately $1.2 billion), relating to 2005 and prior year
business, which primarily consists of U.K. employers' liability reserves. Net
insurance reserves are approximately £834 million (approximately $1.0
billion) and the reinsurance premium payable to Enstar's subsidiary is £799
million. The transaction is subject to finalizing and effecting certain
security arrangements.

Following the initial reinsurance, which will transfer the economics of the
portfolio up to the policy's limits, the parties will pursue a portfolio
transfer of this business under Part VII of the Financial Services and
Markets Act 2000, which would provide legal finality for RSA's obligations.
The transfer is subject to court, regulatory and other approvals.

Commenting on the transaction, Dominic Silvester, Enstar's Chief Executive
Officer, said, "RSA's sizable portfolio is an attractive opportunity for
Enstar that substantially expands our presence in the U.K. employers'
liability area, a market that has seen a great deal of activity recently. We
welcome the opportunity to partner with RSA, a leading multinational
insurance firm, in structuring and executing a transaction for this large
legacy portfolio."

About Enstar Group

Enstar is a multi-faceted insurance group that offers innovative capital
release solutions and specialty underwriting capabilities through its network
of group 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 75
companies and portfolios since its formation in 2001, and has over $12
billion in total assets. Enstar's active underwriting businesses include the
StarStone group of companies, an A- rated global specialty insurance group
with multiple global underwriting platforms, and the Atrium group of
companies, which manage and underwrite specialist insurance and reinsurance
business for Lloyd's Syndicate 609. For further information about Enstar, see
www.enstargroup.com.

Cautionary Statement

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 can be found under the heading "Risk Factors" in
Enstar's Form 10-K for the year ended December 31, 2015 and Form 10-Q for the
quarterly period ended September 30, 2016, 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: +1 (441) 292-3645

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Enstar Group Limited via Globenewswire

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