17 February 2021Insurance

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.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

7 December 2020   Enstar will reinsure a legacy portfolio of US liability businesses written by LMIE through London.
18 November 2020   Enstar, Stone Point and Dowling will get $30m from sale; Inigo to operate as a Lloyd’s specialty insurer.
22 April 2021   The Hong Kong-based appointment is also responsible for the bank’s Bermuda-based captives operation.