Insight and Intelligence on the London & International Insurance Markets 19 Feb 2018

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Enstar rolls KaylaRe into group in $400mn deal

  • Adam McNestrie 5 February 2018
  • Enstar has agreed to acquire the outstanding 52 percent of total return reinsurance joint venture KaylaRe in a $400mn all-paper deal, the New York-listed insurance group said today.

    KaylaRe, a Bermuda-based Class 4 reinsurer, was 44 percent-owned by Chinese investment firm Hillhouse and 8 percent by the Trident V Funds managed by private equity house Stone Point.

    Hillhouse's economic interest in Enstar will rise from 9.9 percent to 17.1 percent after the deal closes, with its voting interest moving from...

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