Aquiline Capital Partners and others Provide $610 Million Recap for StarStone U.S. Holdings

Posted on 06/12/2020

Investors SkyKnight Capital, L.P., Dragoneer Investment Group, and Aquiline Capital Partners LLC have committed US$ 610 million in fresh equity capital for StarStone U.S. Holdings, Inc.

Bermuda-based Enstar Group Limited is an existing owner in StarStone. StarStone management also contributed more than US$ 20 million in the recapitalization. Enstar Group will receive a combination of cash consideration and shares in the recapitalization of the firm.

Furthermore, a subsidiary of Enstar Global plans to enter in a combination of loss portfolio and adverse development cover reinsurance agreement with StarStone U.S. Most of the Enstar Global’s revenue is generated by its StarStone segment, which offers property, casualty, and specialty insurance products to clients of all sizes. Enstar Global’s Atrium unit involves underwriting operations and the financial results of Northshore Holdings and manages Syndicate 609, which directly underwrites specialist insurance and reinsurance at Lloyd’s. Major shareholders of Enstar Global include Canada Pension Plan Investment Board, Stone Point Capital LLC, and Hillhouse Capital Advisors, Ltd.

Get News, People, and Transactions, Delivered to Your Inbox