{"id":174435,"date":"2025-04-25T08:30:55","date_gmt":"2025-04-25T07:30:55","guid":{"rendered":"https:\/\/www.reinsurancene.ws\/?p=174435"},"modified":"2025-04-25T08:12:04","modified_gmt":"2025-04-25T07:12:04","slug":"axis-completes-2-3bn-lpt-reinsurance-agreement-with-enstar","status":"publish","type":"post","link":"https:\/\/www.reinsurancene.ws\/axis-completes-2-3bn-lpt-reinsurance-agreement-with-enstar\/","title":{"rendered":"AXIS completes $2.3bn LPT reinsurance agreement with Enstar"},"content":{"rendered":"

Global insurer and reinsurer, AXIS Capital Holdings Limited and global legacy re\/insurance specialist, Enstar Group Limited have completed their previously announced<\/a> 75% ground-up quota share loss portfolio transfer (LPT) reinsurance agreement.<\/p>\n

\"axis-capital-logo\"The transaction was completed following the receipt of regulatory approvals and satisfaction of various other closing conditions.<\/p>\n

The LPT agreement covers a portfolio of reinsurance segment reserves predominantly attributable to casualty portfolios related to 2021 and prior underwriting years.<\/p>\n

The agreement covers reinsurance segment reserves of $3.1 billion at September 30th, 2024, and is a 75% quota share, with AXIS retroceding $2.3 billion of reinsurance segment reserves to Enstar.<\/p>\n

The LPT agreement was provided by Enstar\u2019s wholly owned subsidiary, Cavello Bay Reinsurance Limited.<\/p>

\"Artemis<\/a><\/div><\/div>\n

It was previously reported that Bermuda-domiciled AXIS expects to recognise an approximate $60 million benefit from the excess of reserves ceded over the next several years, according to the payment patterns of these reserves.<\/p>\n

Additionally, as earlier reported, AXIS will also maintain claims control for the covered reserves subject to certain administrative rights of Enstar.<\/p>\n","protected":false},"excerpt":{"rendered":"

Global insurer and reinsurer, AXIS Capital Holdings Limited and global legacy re\/insurance specialist, Enstar Group Limited have completed their previously announced 75% ground-up quota share loss portfolio transfer (LPT) reinsurance agreement. The transaction was completed following the receipt of regulatory approvals and satisfaction of various other closing conditions. The LPT agreement covers a portfolio of […]<\/p>\n","protected":false},"author":19,"featured_media":47952,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[3044,155,4882,36,60,1834,59],"class_list":["post-174435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-axis","tag-axis-capital-holdings","tag-cavello-bay","tag-enstar","tag-legacy","tag-loss-portfolio-transfers","tag-run-off"],"acf":[],"yoast_head":"\nAXIS 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