Enstar Group Completes $1.1B Collaterized Reinsurance Transaction

A subsidiary of Enstar Group entered into an agreement to reinsure portfolios of Allianz Re's U.S. run-off business, assuming net reinsurance reserves of approximately $1.1 billion by reinsuring 50% of certain workers' compensation, construction defect, and asbestos, pollution and toxic tort business originally held by Fireman's Fund Insurance Company. Enstar will also provide consulting services with respect to the entire $2.2 billion portfolio, including Allianz Re's retained 50% share. Our firm represented Enstar Group in the transaction.