Enstar Group Limited Reports Third Quarter Results
November 08 2017 - 4:43PM
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,
2017.
Enstar reported consolidated net earnings of $39.0 million (or
$1.99 per fully diluted share) for the three months ended
September 30, 2017, compared to $156.0 million (or $8.02 per
fully diluted share) for the three months ended September 30,
2016, and $183.9 million ($9.42 per fully diluted share) for the
nine months ended September 30, 2017, compared to $242.2
million (or $12.46 per fully diluted share) for the six months
ended September 30, 2016.
Enstar's shareholders' equity at September 30, 2017
amounted to $3,021.3 million (or $153.53 per fully diluted share),
as compared to $2,802.3 million (or $143.68 per fully diluted
share) at December 31, 2016. 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 75 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-Q filed on November 8,
2017 and in its Form 10-K for the year ended December 31, 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
SmithTelephone: +1 (441) 292-3645
Enstar (NASDAQ:ESGR)
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