Enstar Group Limited Reports Third Quarter Results
November 08 2017 - 4:49PM
YASTEST
HAMILTON, Bermuda, Nov. 08, 2017
(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, 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
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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