Hiscox completes LPT with Enstar

A wholly owned subsidiary of Enstar Group has completed a loss portfolio transfer with Hiscox.

Enstar’s Syndicate 2008 has reinsured a diversified portfolio of legacy insurance business underwritten by Hiscox Syndicate 3624, including the majority of Hiscox USA’s surplus lines broker business.

Hiscox has ceded net insurance reserves of approximately $520 million at  December 31, 2020, relating to 2019 and prior-year business.