Legacy specialist Enstar Group has reported consolidated net earnings of $183.2 million for the opening quarter of 2021, compared to a consolidated net loss of $516.8 million in the prior year quarter.
enstarKey drivers of this rather substantial earnings increase include a reduction in net incurred losses and loss adjustment expenses of $55.5 million, which comprised favorable development on prior periods of $109.6 million.
This itself was partially offset by current period losses of $54.1 million related to the StarStone International business that was placed into run-off in June 2020, for which there is current period earned premium.
