9 November 2018News

Enstar announces Q3 2018 loss

Enstar made a net loss of $16 million in the third quarter of 2018, down from the net profit of $39 million it reported for the same period of 2017.

The quarterly loss contributed to a loss of $48.9 million for the first nine months of 2018, again down severely from the profit of $183.9 million it made in the first nine months of 2017.

If its figures are taken on a non-GAAP basis, its operating loss was $2.5 million for the three months ended September 30, 2018, compared to non-GAAP operating income of $34.8 million in the same period a year earlier. For the nine months, its non-GAAP operating income was $120 million versus $147.2 million the year before.

Enstar's ordinary shareholders' equity at September 30, 2018 amounted was $3.5 billion compared to $3.1 billion the year before.

Enstar is a multi-faceted insurance group, with over $15.1 billion in assets, that offers innovative capital release solutions and specialty underwriting capabilities through its network of group companies in Bermuda, the US, the UK, Continental Europe, Australia, and other international locations.




More on this story

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19 September 2018   Enstar Group has announced that it is no longer pursuing the sale of its active underwriting businesses, Atrium and StarStone.
News
9 May 2018   Enstar Group has reported consolidated net losses of $41.2 million for the first three months of 2018, a fall from the $54.7 million profit it made in the same period of 2017.

More on this story

News
19 September 2018   Enstar Group has announced that it is no longer pursuing the sale of its active underwriting businesses, Atrium and StarStone.
News
9 May 2018   Enstar Group has reported consolidated net losses of $41.2 million for the first three months of 2018, a fall from the $54.7 million profit it made in the same period of 2017.