Enstar Group Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:17 pm EDT
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Enstar Group Limited reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 154 million compared to negative revenue of USD 486 million a year ago. Net income was USD 30 million compared to net loss of USD 425 million a year ago. Basic earnings per share from continuing operations was USD 1.36 compared to basic loss per share from continuing operations of USD 25.2 a year ago. Diluted earnings per share from continuing operations was USD 1.34 compared to diluted loss per share from continuing operations of USD 25.2 a year ago.
For the six months, revenue was USD 786 million compared to negative revenue of USD 776 million a year ago. Net income was USD 463 million compared to net loss of USD 683 million a year ago. Basic earnings per share from continuing operations was USD 27.44 compared to basic loss per share from continuing operations of USD 40.29 a year ago. Diluted earnings per share from continuing operations was USD 27.19 compared to diluted loss per share from continuing operations of USD 40.29 a year ago.
Enstar Group Limited is a global (re)insurance group that offers capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, and Australia. Its segments include Run-off, Assumed Life, Investments, and Legacy Underwriting. The Run-off segment consists of its acquired property and casualty and other (re)insurance business. Assumed Life segment consists of life and catastrophe business that it assumed via the acquisition of the controlling interest in Enhanzed Reinsurance, Ltd. (Enhanzed Re). Investments segment consists of its investment activities and the performance of its investment portfolio, excluding those investable assets attributable to its underwriting segment. Its services to the re/insurance industry range from full-service, incentive-based run-off management to client-specific solutions, such as claims inspection and validation, reinsurance asset collection, syndicate management, and IT consulting.
ENSTAR GROUP LIMITED 
