ESGR - Enstar subsidiary enters into ADC agreement with RSA

A wholly-owned subsidiary of Enstar Group (ESGR) has entered into an agreement with Royal & Sun Alliance Insurance ((RSA)), a wholly-owned subsidiary of property & casualty insurance company, Intact Financial (IFCZF).As part of the agreement, the Enstar subsidiary will provide adverse development cover ((ADC)) for certain UK, Irish and other business of RSA and its subsidiaries, in exchange for premium.The ADC will offer an aggregate coverage of £400M in excess of a £2.595B retention on losses occurring on or prior to December 31, 2020 on a diversified mix of commercial and personal insurance lines risks.The transaction is expected to close in Q321.

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Enstar subsidiary enters into ADC agreement with RSA