Enstar completes adverse development reinsurance trade with Aspen

A wholly owned subsidiary of Enstar Group has completed an adverse development cover reinsurance transaction with Aspen Insurance Holdings.

The transaction sees the Enstar subsidiary assume reinsurance losses incurred on or prior to December 31, 2019, on a diversified mix of property, liability and specialty lines, across the US, UK and Europe, for a premium of $770 million.

The transaction completed having received regulatory approval and the satisfaction of all applicable closing conditions.