3 November 2017Insurance

Enstar buys Great Lakes Casualty Insurance Company

Bermuda-based run-off consolidator Enstar Group has acquired Great Lakes Casualty Insurance Company (GLC) from Main Street America, according to a Nov. 2 statement.

Domiciled in Michigan, GLC is a property/casualty insurance provider and has been in runoff since 2015. The sale to an Enstar subsidiary was completed on October 31, 2017.

Enstar combines active underwriting in specialty insurance markets with consolidation of legacy risk, according to the company’s website. The company has acquired over 75 companies and portfolios since its formation in 2001.

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More on this story

Insurance
23 May 2017   Mark Smith, chief financial officer of Bermuda-based Enstar Group, will step down at the end of the year, and move into a consulting role.
Insurance
9 May 2017   Enstar, an insurance holding company that owns StarStone and Atrium, posted improved profits in the first quarter of 2017 though its net written premiums shrank as it warned on “challenging market conditions” in both underwriting and investing and “overcapacity in many markets for insurable risks”.