Enstar to cover some of Zurich North America’s asbestos liabilities

A wholly-owned subsidiary of Enstar Group has completed a previously announced transaction to reinsure a number of the US asbestos and environmental liability insurance portfolios of Zurich North America.

In the transaction, Enstar’s subsidiary assumed gross insurance reserves of approximately $0.5 billion, relating to 1986 and prior year business.

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

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