A Mayer Brown team represented QBE Insurance Group Limited (QBE), an international insurer and reinsurer with a local presence in 27 countries, in agreeing terms with certain subsidiaries of Enstar Group Limited (Enstar) for a $1.9 billion loss portfolio transfer representing a diversified portfolio of insurance liabilities.
In the LPT transaction, which will be effective as of January 1, 2023, subject to regulatory approvals and certain closing conditions, Enstar’s subsidiaries will provide approximately $900 million of cover in excess of the QBE ceded reserves on business largely underwritten between 2010 and 2018.
The team was led by partners Vikram Sidhu, Colin Scagell, Rebecca Bothamley and Dave Alberts and associate Juliana Toes.
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