Travelers said a subsidiary has agreed to sell Unionamerica Holdings Limited to a subsidiary of Bermuda-based Enstar Group Limited for a purchase price of $343.4 million.
Enstar acquires and manages insurance and reinsurance companies in runoff and provides management, consultancy and other services to the insurance and reinsurance industry.
St. Paul Fire and Marine Insurance Company, a wholly-owned Travelers subsidiary, has agreed to sell Unionamerica to Royston Run-Off Limited, Travelers said.
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