Enstar sells US life insurance subsidiary Pavonia to Aquarian

Legacy specialist Enstar Group has agreed to sell its wholly-owned US subsidiary Pavonia Life Insurance Company of New York to Aquarian Holdings.

Pavonia Life is licensed to underwrite business in New York and Delaware.

The transaction is subject to customary closing conditions, including regulatory approval by the New York State Department of Financial Services.

“Adding Pavonia Life to our platform furthers our mission to deliver a superior insurance offering that creates long-term value for the policyholders and the companies that support them,” said Rudy Sahay, managing partner at Aquarian Holdings.

“Aquarian’s expertise in managing insurance liabilities to support sustainable growth and our operating experience with insurers will help us strengthen the business and produce thoughtful, innovative products.”

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