Enstar Group Limited Reports Second Quarter Results
August 05 2016 - 04:39PM
Enstar Group Limited (Nasdaq:ESGR) filed its quarterly report on
Form 10-Q with the SEC today, reporting its earnings and financial
position for the three and six months ended June 30, 2016.
Enstar reported consolidated net earnings of $40.6 million (or
$2.09 per fully diluted share) for the three months ended June 30,
2016 and $86.1 million (or $4.43 per fully diluted share) for the
six months ended June 30, 2016, compared to $14.5 million (or $0.75
per fully diluted share) for the three months ended June 30, 2015
and $59.4 million (or $3.07 per fully diluted share) for the six
months ended June 30, 2015.
Enstar's shareholders' equity at June 30, 2016 amounted to
$2,615.8 million (or $134.68 per fully diluted share), as compared
to $2,516.9 million (or $129.65 per fully diluted share) at
December 31, 2015. The Form 10-Q, which is available on Enstar's
website, www.enstargroup.com, contains a more detailed description
of Enstar's business and financial results.
About Enstar
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 70 companies
and portfolios since its formation in 2001. 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 June
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
Enstar (NASDAQ:ESGR)
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