Enstar rolls KaylaRe into group in $400mn deal

Enstar has agreed to acquire the outstanding 52 percent of total
return reinsurance joint venture KaylaRe in a $400mn all-paper
deal, the New York-listed insurance group said today.
KaylaRe, a Bermuda-based Class 4 reinsurer, was 44 percent-owned
by Chinese investment firm Hillhouse and 8 percent by the Trident V
Funds managed by private equity house Stone Point.
Hillhouse's economic interest in Enstar will rise from 9.9
percent to 17.1 percent after the deal closes, with its voting
interest mov