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Dec 31, 2022
Enstar Q4 2022 Earnings Report
Reported strong fourth quarter results driven by solid investment income and favorable reserve development.
Key Takeaways
Enstar Group Limited reported strong fourth quarter results with net earnings of $227 million and an 8.4% increase in book value. The company closed a Loss Portfolio Transfer (LPT) with Argo and substantially completed the unwind of Enhanzed Re’s reinsurance transactions. They announced a $1.9 billion global ground-up LPT with QBE and an AUD$360 million LPT with Royal Automobile Club of Queensland.
Net earnings for the fourth quarter were $227 million, with a Return on Equity (ROE) of 5.9%.
Book Value per Ordinary Share increased 8.4% to $246.20 as of December 31, 2022.
Closed Loss Portfolio Transfer (LPT) with Argo and assumed net loss reserves of $718 million.
Announced a $1.9 billion global ground-up LPT with QBE and an AUD$360 million LPT with Royal Automobile Club of Queensland.
Forward Guidance
Enstar remains well-positioned to capitalize on its robust pipeline, expecting to continue as the dominant player in the legacy market in 2023. The company's balance sheet remains strong, and its scale, operational capabilities, and highly differentiated claims expertise will support accretive opportunities while driving long-term value to shareholders.
Positive Outlook
- Well-positioned to capitalize on robust pipeline.
- Expect to continue as the dominant player in the legacy market in 2023.
- Balance sheet remains strong.
- Scale and operational capabilities support accretive opportunities.
- Highly differentiated claims expertise drives long-term value to shareholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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