ESGR - Enstar completes loss portfolio transfer with Argo Group International

• Insurance company Enstar ( NASDAQ: ESGR ) on Wednesday said one of its units had closed its loss portfolio transfer deal with underwriter Argo Group International ( NYSE: ARGO ).
• The transaction was for ESGR to reinsure a number of ARGO's direct U.S. casualty insurance portfolios relating to accident years 2011 to 2019.
• Enstar's unit covers ground up reserves of $746M and an additional $275M of cover in excess of $821M, up to a policy limit of $1.1B, ESGR said in a statement .
• Argo will retain a loss corridor of $75M up to $821M, ESGR said.
• Enstar ( ESGR ) stock earlier closed -1.7% at $188.83, while shares of Argo ( ARGO ) ended +2.9% at $24.49.

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