Klaus Vedfelt
- Insurance company Enstar Group (NASDAQ:ESGR) said on Thursday it has closed a transaction between one of its wholly-owned subsidiaries and Insurance Australia, on behalf of Insurance Australia Group.
- ESGR said the transaction had received relevant regulatory approvals and satisfied the required final closing conditions.
- Enstar will provide approximately the equivalent of $442M of excess cover over the equivalent of $1.7B of underlying reserves for certain long-tail insurance business.
- Source: Press Release
