AM Best Comments on Credit Ratings of StarStone Insurance Bermuda Limited and Its Subsidiary Following Announced Acquisition of Ultimate Parent
29 Julio 2024 - 12:13PM
Business Wire
AM Best has commented that the Credit Ratings (ratings)
of StarStone Insurance Bermuda Limited (SIBL) (Bermuda) and its
subsidiary, StarStone Insurance SE (SISE) (Lichtenstein), are
unchanged following the 29 July 2024 announcement that their parent
company, Enstar Group Limited (Enstar) [NASDAQ: ESGR], has entered
into a definitive merger agreement under which Sixth Street will
acquire Enstar, with Liberty Strategic Capital, J.C. Flowers &
Co. LLC, and other institutional investors participating in the
transaction.
AM Best does not expect the transaction to result in any
material changes to SIBL or SISE’s business operations or rating
fundamentals. Support that the companies receive from their
ultimate parent, Enstar, is also expected to be unaffected.
Nonetheless, AM Best will continue to monitor the situation.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent Rating
Activity web page. For additional information regarding the use and
limitations of Credit Rating opinions, please view Guide to Best’s
Credit Ratings. For information on the proper use of Best’s Credit
Ratings, Best’s Performance Assessments, Best’s Preliminary Credit
Assessments and AM Best press releases, please view Guide to Proper
Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specialising in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
Copyright © 2024 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240729342480/en/
Marving Lopez Financial Analyst +44 20 7397
4389 marving.lopez@ambest.com
Christopher Sharkey Associate Director, Public
Relations +1 908 882 2310
christopher.sharkey@ambest.com
Tim Prince Director, Analytics +44 20 7397
0320 timothy.prince@ambest.com
Al Slavin Senior Public Relations Specialist +1
908 882 2318 al.slavin@ambest.com