Enstar Group Limited Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:54 pm EST
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Enstar Group Limited reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 161 million compared to negative revenue of USD 466 million a year ago. Net income was USD 47 million compared to net loss of USD 423 million a year ago. Basic earnings per share from continuing operations was USD 2.46 compared to basic loss per share from continuing operations of USD 25.39 a year ago. Diluted earnings per share from continuing operations was USD 2.43 compared to diluted loss per share from continuing operations of USD 25.39 a year ago.
For the nine months, revenue was USD 947 million compared to negative revenue of USD 1,242 million a year ago. Net income was USD 510 million compared to net loss of USD 1,106 million a year ago. Basic earnings per share from continuing operations was USD 30.26 compared to basic loss per share from continuing operations of USD 65.61 a year ago. Diluted earnings per share from continuing operations was USD 30.05 compared to diluted loss per share from continuing operations of USD 65.61 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 
