Investment gains drive robust 2020 profits at Enstar
Bermuda-based re/insurance group Enstar enjoyed a big increase in its profits for the full year 2020 largely on the back of strong investment performance.
Enstar generated a net profit of $1.7 billion for 2020, a significant increase on the $902.2 million earned in 2019.
The key driver of its profit for the year was net realised and unrealised gains of $1.6 billion. This included $1.3 billion relating to equities and other investments, and $306.3 million relating to fixed income securities.
The company specialises in acquisition and management of legacy insurance risk, and offers innovative capital release solutions through its network of group companies in Bermuda, US, UK, Continental Europe, Australia, and other global locations.
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