Enstar signs legacy reinsurance agreement with Continental Casualty

Enstar Group has signed an agreement with Continental Casualty Company via one of its wholly owned subsidiaries to reinsure a legacy portfolio of excess workers’ compensation business.

Enstar’s subsidiary will assume net insurance reserves of approximately $690 million, relating to 2007 and prior year business.

The closing of the transaction is subject to regulatory approval and other closing conditions.

Dominic Silvester, Enstar’s chief executive officer, noted the agreement will expand Enstar’s portfolio of US excess workers’ compensation legacy reserves, a line of business he said it has considerable experience and success in managing.