Enstar Group Limited Announces Proposed Acquisition for $200M

Enstar Group Limited ESGR today announced that, through one of its wholly-owned subsidiaries, it has entered into a definitive agreement for the purchase of Clarendon National Insurance Company from Clarendon Insurance Group, Inc., an affiliate of Hannover Re. The purchase price is approximately $200 million and is expected to be financed in part by a bank loan facility to be finalized before closing and in part from cash on hand.