Enstar Group Limited Reports Year-End Results
Enstar Group Limited
24.02.2012 23:27
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HAMILTON, Bermuda, 2012-02-24 23:26 CET (GLOBE NEWSWIRE) --
Enstar Group Limited (Nasdaq:ESGR) filed its annual report on Form 10-K with
the SEC earlier today, reporting its earnings and financial position for the
year ended December 31, 2011.
Enstar reported consolidated net earnings of $153.7 million (or $10.81 per
fully diluted share) for the year ended December 31, 2011 compared to $174.1
million (or $12.66 per fully diluted share) for the year ended December 31,
2010.
Enstar's shareholders' equity at December 31, 2011 amounted to $1.39 billion
(excluding noncontrolling interest of $297.3 million) (or $82.97 per fully
diluted share), up from $948.4 million (excluding noncontrolling interest of
$267.4 million) (or $71.68 per fully diluted share) at December 31, 2010.
Shareholders' equity increased at December 31, 2011 due primarily to net
earnings and the investment in Enstar by certain affiliates of Goldman, Sachs &
Co. that occurred on April 20, 2011 and December 22, 2011. The Form 10-K, which
is available on Enstar's website, www.enstargroup.com, contains a more detailed
description of Enstar's business and financial results.
Enstar, a Bermuda company, acquires and manages insurance and reinsurance
companies in run-off and portfolios of insurance and reinsurance business in
run-off, and provides management, consultancy and other services to the
insurance and reinsurance industry.
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements include statements regarding the intent, belief or current
expectations of Enstar and its management team. Prospective investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors. Important risk factors regarding Enstar may be found
under the heading 'Risk Factors' in Enstar's Form 10-K for the year ended
December 31, 2011, and are incorporated herein by reference. Furthermore,
Enstar undertakes no obligation to update any written or oral forward-looking
statements of publicly announce any updates or revisions to any of the
forward-looking statements contained herein, to reflect any change in its
expectations with regard thereto or any change in events, conditions,
circumstances or assumptions underlying such statements, except as required by
law.
CONTACT: Richard J. Harris
(441) 292-3645
News Source: NASDAQ OMX
24.02.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Enstar Group Limited
Bermuda
Phone:
Fax:
E-mail:
Internet:
ISIN: BMG3075P1014
WKN:
End of Announcement DGAP News-Service
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Enstar Group Limited
24.02.2012 23:27
---------------------------------------------------------------------------
HAMILTON, Bermuda, 2012-02-24 23:26 CET (GLOBE NEWSWIRE) --
Enstar Group Limited (Nasdaq:ESGR) filed its annual report on Form 10-K with
the SEC earlier today, reporting its earnings and financial position for the
year ended December 31, 2011.
Enstar reported consolidated net earnings of $153.7 million (or $10.81 per
fully diluted share) for the year ended December 31, 2011 compared to $174.1
million (or $12.66 per fully diluted share) for the year ended December 31,
2010.
Enstar's shareholders' equity at December 31, 2011 amounted to $1.39 billion
(excluding noncontrolling interest of $297.3 million) (or $82.97 per fully
diluted share), up from $948.4 million (excluding noncontrolling interest of
$267.4 million) (or $71.68 per fully diluted share) at December 31, 2010.
Shareholders' equity increased at December 31, 2011 due primarily to net
earnings and the investment in Enstar by certain affiliates of Goldman, Sachs &
Co. that occurred on April 20, 2011 and December 22, 2011. The Form 10-K, which
is available on Enstar's website, www.enstargroup.com, contains a more detailed
description of Enstar's business and financial results.
Enstar, a Bermuda company, acquires and manages insurance and reinsurance
companies in run-off and portfolios of insurance and reinsurance business in
run-off, and provides management, consultancy and other services to the
insurance and reinsurance industry.
This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements include statements regarding the intent, belief or current
expectations of Enstar and its management team. Prospective investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors. Important risk factors regarding Enstar may be found
under the heading 'Risk Factors' in Enstar's Form 10-K for the year ended
December 31, 2011, and are incorporated herein by reference. Furthermore,
Enstar undertakes no obligation to update any written or oral forward-looking
statements of publicly announce any updates or revisions to any of the
forward-looking statements contained herein, to reflect any change in its
expectations with regard thereto or any change in events, conditions,
circumstances or assumptions underlying such statements, except as required by
law.
CONTACT: Richard J. Harris
(441) 292-3645
News Source: NASDAQ OMX
24.02.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Enstar Group Limited
Bermuda
Phone:
Fax:
E-mail:
Internet:
ISIN: BMG3075P1014
WKN:
End of Announcement DGAP News-Service
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