Analyst Research

Report Title Price
Provider: New Constructs, LLC
$25.00
Provider: Thomson Reuters Stock Report
$25.00
Provider: Thomson Reuters Stock Report
$25.00
Provider: MacroRisk Analytics/EconomicInvestor
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Enstar Group Ltd Completes Acquisition Of U.S. and Canadian Closed-Life Insurance Operations From HSBC Holdings plc


Monday, 1 Apr 2013 07:00am EDT 

Enstar Group Ltd announced that one of Enstar's wholly-owned subsidiaries completed the previously announced acquisition from Household Insurance Group Holding Company of HSBC Insurance Company of Delaware and Household Life Insurance Company of Delaware, as well as its three subsidiary insurers, on March 31, 2013. Household Insurance Group Holding Company is a subsidiary of HSBC Holdings plc. The HSBC companies acquired added approximately $1.4 billion in total cash and investments to Enstar's balance sheet. As previously disclosed, the base purchase price of $181 million was rolled forward under the terms of the stock purchase agreement based upon changes to the capital and surplus of the acquired entities arising from the operation of the business prior to closing. The amount paid at closing was approximately $155.7 million and was financed in part by a drawing under Enstar's revolving credit facility. 

Company Quote

77.75
0.2 +0.26%
3:59am EDT