Enstar makes loss in third quarter

Bermuda insurance group Enstar made a net loss of $16 million in the third quarter of the year compared with a net profit of $39 million a year earlier; for the first nine months, the comparable figures were a net loss of $48.9 million versus a profit of $183.9 million the year before.

If its figures are taken on a non-GAAP basis, its operating loss was $2.5 million for the three months ended September 30, 2018, compared to non-GAAP operating income of $34.8 million in the same period a year earlier. For the nine months, its non-GAAP operating income was $120 million versus $147.2 million the year before.

Enstar's ordinary shareholders' equity at September 30, 2018 amounted was $3.5 billion compared to $3.1 billion the year before.

Enstar is a multi-faceted insurance group, with over $15.1 billion in assets, that offers innovative capital release solutions and specialty underwriting capabilities through its network of group companies in Bermuda, the US, the UK, Continental Europe, Australia, and other international locations.

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