A wholly owned subsidiary of Enstar Group Limited has signed an agreement with a subsidiary of Zurich Insurance Group to reinsure a number of its U.S. asbestos and environmental liability insurance portfolios.
Enstar's subsidiary will assume gross insurance reserves of approximately $0.5 billion, relating to 1986 and prior year business. The closing of the transaction is subject to regulatory approval and other closing conditions.
Learn more: www.enstargroup.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].