The following is a summary of the Enstar Group Limited (ESGR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Enstar reported a Q1 2024 return on equity of 2.4% and growth in book value per share of 1.7%.

• Net income attributable to Enstar ordinary shareholders was $119 million, delivering an adjusted ROE of 2.6%.

• The Company further grew its book value by 1.7% to $349.41, and diluted book value per share saw a growth of 1.4% to $341.53.

• From diverse transaction considerations and an existing fixed income portfolio, overall investment returns amounted to $222 million.

• The company reported Run-off Liability Earnings (RLE) of $24 million, courtesy of favorable claims experience across various classes of business.

Business Progress:

• Enstar has announced plans to reinsure $400 million of workers' compensation business for underwriting years 2018 to 2023 through a loss portfolio transfer deal with SiriusPoint.

• The firm's primary reinsurer, Cavello Bay, received an 'A' Insurer Financial Strength Rating from S&P, placing faith in their business model and claims management capabilities.

• Enstar remains enthusiastic about their pipeline of M&A prospects, underlining a disciplined approach to ensure attractive risk-adjusted returns.

• The company has a robust capital and liquidity position, with a fully unutilized $800 million revolving credit agreement and an estimated group capital solvency ratio of 195% at the end of Q1.

More details: Enstar IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.