Enstar reinsures US asbestos and environmental exposure for Zurich

A wholly owned subsidiary of Enstar Group has completed a previously announced transaction to reinsure a number of the US asbestos and environmental liability insurance portfolios of Zurich North America.

Enstar’s subsidiary assumed gross insurance reserves of approximately $0.5 billion, relating to business from 1986 and before.

The transaction received regulatory approvals and satisfied other closing conditions.