Enstar strikes £957mn RSA legacy deal

Bermudian carrier Enstar has beaten off competitors to strike a
deal with RSA to reinsure a legacy UK employers' liability book
with gross reserves of £957mn ($1.2bn).
Enstar, which facedcompetition in the PwC-run sale from Catalina and Armour, said
it will assume the gross liabilities relating to 2005 and
prior-year business.
The company will receive a reinsurance premium of £799mn on
net insurance reserves of about £834mn.
The transaction still needs to be finalised, with cer