Enstar closes $156m Australian run-off deal with Munich Re

Enstar Group's wholly-owned subsidiary has completed the acquisition of run-off portfolios from the Australian of Munich Re’s Great Lakes Insurance and HSB Engineering Insurance.

Enstar’s subsidiary received total assets of approximately A$228.2 million (approximately $156.2 million), subject to a final roll-forward adjustment, for assuming the associated net reserves.

The acquired portfolio primarily comprises of long tail insurance business.

Completion of the transaction followed receipt of regulatory and federal court of Australia approvals and satisfaction of various other closing conditions.