Enstar Group Limited Reports Third Quarter Results
November 08 2016 - 4:41PM
HAMILTON, Bermuda, Nov. 08, 2016 (GLOBE NEWSWIRE)
-- 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 nine months ended September 30,
2016.
Enstar reported consolidated net earnings of
$156.0 million (or $8.02 per fully diluted share) for the three
months ended September 30, 2016 and $242.2 million (or $12.46
per fully diluted share) for the nine months ended
September 30, 2016, compared to $49.0 million (or $2.53 per
fully diluted share) for the three months ended September 30,
2015 and $108.4 million (or $5.59 per fully diluted share) for the
nine months ended September 30, 2015.
Enstar's shareholders' equity at
September 30, 2016 amounted to $2,777.5 million (or $142.86
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 September 30, 2016, 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
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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