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Name | Symbol | Market | Type |
---|---|---|---|
Enstar Group Ltd | NASDAQ:ESGRP | NASDAQ | Preference Share |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.095 | -0.49% | 19.40 | 19.15 | 20.15 | 19.69 | 19.38 | 19.59 | 46,517 | 22:16:11 |
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Limited Guarantee (page 94)
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Implied Premium
Represented by $338.00 Total Cash Consideration Per Ordinary Share |
| |||
Reference Price Per Enstar Ordinary Share | | | | | | | |
Day Before Initial Proposal Share Price of $292.50
|
| | | | 15.6% | | |
Day Before Revised Proposal Share Price of $292.80
|
| | | | 15.4% | | |
July 26 Share Price of $348.31
|
| | | | (3.0)% | | |
Undisturbed Share Price of $305.70
|
| | | | 10.6% | | |
All-time High Share Price of $314.83
|
| | | | 7.4% | | |
52-Week High Price of $314.83
|
| | | | 7.4% | | |
52-Week Low Price of $232.05
|
| | | | 45.7% | | |
30-Day VWAP of $307.32
|
| | | | 10.0% | | |
60-Day VWAP of $302.24
|
| | | | 11.8% | | |
90-Day VWAP of $301.26
|
| | | | 12.2% | | |
Announced
|
| |
Acquiror
|
| |
Target
|
| |
P/BV incl.
AOCI |
|
October 2021 | | | Covéa Coopérations S.A. | | | PartnerRe Ltd. | | |
1.25x
|
|
October 2018 | | | RenaissanceRe Holdings Ltd. | | |
Tokio Millennium Re AG and
Tokio Millennium Re (UK) Ltd. |
| |
1.01x
|
|
August 2015 | | | Exor SpA | | | PartnerRe Ltd. | | |
1.10x
|
|
March 2015 | | |
Endurance Specialty Holdings Ltd.
|
| | Montpelier Re Holdings Ltd. | | |
1.22x
|
|
November 2014 | | | RenaissanceRe Holdings Ltd. | | |
Platinum Underwriters Holdings, Ltd.
|
| |
1.13x
|
|
December 2012 | | | Markel Corporation | | | Alterra Capital Holdings Limited | | |
1.07x
|
|
August 2012 | | | Validus Holdings, Ltd. | | |
Flagstone Reinsurance Holdings, S.A.
|
| |
0.74x
|
|
November 2011 | | | Alleghany Corporation | | | Transatlantic Holdings, Inc. | | |
0.80x
|
|
| | |
Actuals as of
December 31, 2023 |
| |
Estimated for the years ended December 31,
|
| ||||||||||||||||||||||||||||||
(amounts in millions)
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028
|
| |||||||||||||||||||||
Earnings
|
| | | | | | | | | $ | 659 | | | | | $ | 572 | | | | | $ | 708 | | | | | $ | 818 | | | | | $ | 1,010 | | |
Share Repurchases
|
| | | | | | | | | $ | (250) | | | | | $ | (100) | | | | | $ | (100) | | | | | $ | (100) | | | | | $ | (100) | | |
End of Period Book Value (including AOCI)
|
| | | $ | 5,025 | | | | | $ | 5,547 | | | | | $ | 6,110 | | | | | $ | 6,800 | | | | | $ | 7,537 | | | | | $ | 8,461 | | |
Management Adjusted Book Value(1)
|
| | | $ | 5,391 | | | | | $ | 5,754 | | | | | $ | 6,192 | | | | | $ | 6,771 | | | | | $ | 7,509 | | | | | $ | 8,439 | | |
Distributable Cash Flows(2)
|
| | | | | | | | | $ | 250 | | | | | $ | 100 | | | | | $ | 100 | | | | | $ | 100 | | | | | $ | 100 | | |
| | |
Actuals as of
December 31, 2023 |
| |
Estimated for the years ended December 31,
|
| ||||||||||||||||||||||||||||||
(amounts in millions)
|
| |
2024
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028
|
| |||||||||||||||||||||
Earnings
|
| | | | | | | | | $ | 659 | | | | | $ | 572 | | | | | $ | 708 | | | | | $ | 818 | | | | | $ | 1,010 | | |
Share Repurchases
|
| | | | | | | | | $ | (500) | | | | | $ | (200) | | | | | $ | (200) | | | | | $ | (200) | | | | | $ | (200) | | |
End of Period Book Value (including AOCI)
|
| | | $ | 5,025 | | | | | $ | 5,297 | | | | | $ | 5,760 | | | | | $ | 6,350 | | | | | $ | 6,987 | | | | | $ | 7,811 | | |
Management Adjusted Book Value(1)
|
| | | $ | 5,391 | | | | | $ | 5,504 | | | | | $ | 5,842 | | | | | $ | 6,321 | | | | | $ | 6,959 | | | | | $ | 7,789 | | |
Distributable Cash Flows(2)
|
| | | | | | | | | $ | 500 | | | | | $ | 200 | | | | | $ | 200 | | | | | $ | 200 | | | | | $ | 200 | | |
| | |
Actuals as of
June 30, 2024 |
| |
Estimated for
the six-months period ended December 31, 2024 |
| |
Estimated for the years ended December 31,
|
| |||||||||||||||||||||||||||
(amounts in millions)
|
| |
2025
|
| |
2026
|
| |
2027
|
| |
2028
|
| ||||||||||||||||||||||||
Earnings
|
| | | | | | | | | $ | 414 | | | | | $ | 572 | | | | | $ | 708 | | | | | $ | 818 | | | | | $ | 1,010 | | |
Share Repurchases
|
| | | | | | | | | $ | (250) | | | | | $ | (100) | | | | | $ | (100) | | | | | $ | (100) | | | | | $ | (100) | | |
End of Period Book Value (including AOCI)
|
| | | $ | 5,261 | | | | | $ | 5,547 | | | | | $ | 6,110 | | | | | $ | 6,800 | | | | | $ | 7,537 | | | | | $ | 8,461 | | |
Management Adjusted Book Value(1)
|
| | | $ | 5,713 | | | | | $ | 5,754 | | | | | $ | 6,192 | | | | | $ | 6,771 | | | | | $ | 7,509 | | | | | $ | 8,439 | | |
Distributable Cash Flows(2)
|
| | | | | | | | | $ | 250 | | | | | $ | 100 | | | | | $ | 100 | | | | | $ | 100 | | | | | $ | 100 | | |
Name
|
| |
Company
Restricted Shares (#)(1) |
| |
Company
Restricted Shares ($) |
| |
Company
RSU Awards (#)(1) |
| |
Company
RSU Awards ($) |
| ||||||||||||
Robert J. Campbell
|
| | | | — | | | | | | — | | | | | | 26,952.693 | | | | | $ | 9,110,010 | | |
B. Frederick Becker
|
| | | | 407.804 | | | | | $ | 137,838 | | | | | | 3,800.878 | | | | | $ | 1,284,697 | | |
Sharon A. Beesley
|
| | | | 407.804 | | | | | $ | 137,838 | | | | | | — | | | | | | — | | |
James D. Carey(2)
|
| | | | — | | | | | | — | | | | | | 10,007.823 | | | | | $ | 3,382,644 | | |
Susan L. Cross
|
| | | | 407.804 | | | | | $ | 137,838 | | | | | | — | | | | | | — | | |
Hans-Peter Gerhardt
|
| | | | 407.804 | | | | | $ | 137,838 | | | | | | — | | | | | | — | | |
Myron Hendry
|
| | | | — | | | | | | — | | | | | | 2,601.688 | | | | | $ | 879,371 | | |
Paul J. O’Shea
|
| | | | 407.804 | | | | | $ | 137,838 | | | | | | — | | | | | | — | | |
Hitesh Patel
|
| | | | — | | | | | | — | | | | | | 7,152.841 | | | | | $ | 2,417,660 | | |
Poul A. Winslow
|
| | | | — | | | | | | — | | | | | | 838.375 | | | | | $ | 283,371 | | |
Name
|
| |
Company
RSU Awards (#) |
| |
Company
RSU Awards ($) |
| |
Company
PSU Awards (#)(1) |
| |
Company
PSU Awards ($) |
| |
JSOP
(#)(2) |
| |
JSOP
($)(2) |
| ||||||||||||||||||
Dominic Silvester
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 565,630 | | | | | $ | 74,725,379 | | |
Matthew Kirk
|
| | | | 5,163 | | | | | $ | 1,745,094 | | | | | | 4,214 | | | | | $ | 716,491 | | | | | | — | | | | | | — | | |
Orla Gregory(3)
|
| | | | 8,977 | | | | | $ | 3,034,226 | | | | | | 40,395 | | | | | $ | 20,480,434 | | | | | | — | | | | | | — | | |
David Ni
|
| | | | 18,107 | | | | | $ | 6,120,166 | | | | | | 6,787 | | | | | $ | 1,164,966 | | | | | | — | | | | | | — | | |
Nazar Alobaidat
|
| | | | 6,092 | | | | | $ | 2,059,096 | | | | | | 5,408 | | | | | $ | 950,523 | | | | | | — | | | | | | — | | |
Paul Brockman
|
| | | | 14,815 | | | | | $ | 5,007,470 | | | | | | 6,642 | | | | | $ | 1,159,039 | | | | | | — | | | | | | — | | |
Named Executive Officer
|
| |
Cash
($)(1) |
| |
Equity
($)(2) |
| |
Perquisites/
Benefits ($)(3) |
| |
Total
($) |
| ||||||||||||
Dominic Silvester
|
| | | $ | 11,250,000 | | | | | $ | 74,725,379 | | | | | $ | 121,876 | | | | | $ | 86,097,255 | | |
Mathew Kirk
|
| | | $ | 1,078,005 | | | | | $ | 2,461,585 | | | | | $ | 25,961 | | | | | $ | 3,565,552 | | |
Orla Gregory
|
| | | $ | 3,430,000 | | | | | $ | 17,000,000 | | | | | $ | 591,559 | | | | | $ | 21,021,559 | | |
David Ni
|
| | | $ | 1,788,934 | | | | | $ | 7,285,132 | | | | | | — | | | | | $ | 9,074,067 | | |
Nazar Alobaidat
|
| | | $ | 1,577,376 | | | | | $ | 3,009,619 | | | | | $ | 25,961 | | | | | $ | 4,612,956 | | |
Paul Brockman
|
| | | $ | 1,458,470 | | | | | $ | 6,166,509 | | | | | | — | | | | | $ | 7,624,979 | | |
Name
|
| |
“Single-Trigger”
Salary Payment ($) |
| |
“Double-Trigger”
Salary Payment ($) |
| |
“Double-Trigger”
Annual Bonus ($) |
| |
Total
($) |
| ||||||||||||
Dominic Silvester
|
| | | $ | 7,500,000 | | | | | | — | | | | | $ | 3,750,000 | | | | | $ | 11,250,000 | | |
Name
|
| |
“Single-Trigger”
Salary Payment ($) |
| |
“Double-Trigger”
Salary Payment ($) |
| |
“Double-Trigger”
Annual Bonus ($) |
| |
Total
($) |
| ||||||||||||
Matthew Kirk
|
| | | | — | | | | | $ | 650,000 | | | | | $ | 428,005 | | | | | $ | 1,078,005 | | |
Orla Gregory
|
| | | | — | | | | | $ | 1,400,000 | | | | | $ | 2,030,000 | | | | | $ | 3,430,000 | | |
David Ni
|
| | | | — | | | | | $ | 900,000 | | | | | $ | 888,934 | | | | | $ | 1,788,934 | | |
Nazar Alobaidat
|
| | | | — | | | | | $ | 1,018,500 | | | | | $ | 558,876 | | | | | $ | 1,577,376 | | |
Paul Brockman
|
| | | | — | | | | | $ | 800,000 | | | | | $ | 658,470 | | | | | $ | 1,458,470 | | |
Name
|
| |
Company
RSU Awards ($) |
| |
Company
PSU Awards ($) |
| ||||||
Matthew Kirk
|
| | | $ | 1,745,094 | | | | | $ | 716,491 | | |
David Ni
|
| | | $ | 6,120,166 | | | | | $ | 1,164,966 | | |
Nazar Alobaidat
|
| | | $ | 2,059,096 | | | | | $ | 950,523 | | |
Paul Brockman
|
| | | $ | 5,007,470 | | | | | $ | 1,159,039 | | |
Description
|
| |
Amount
($) |
| |||
Financial advisory fees and expenses
|
| | | | [•] | | |
Legal fees and expenses
|
| | | | [•] | | |
Proxy solicitation fees and expenses
|
| | | | [•] | | |
SEC filing fees
|
| | | | [•] | | |
EDGAR filing expenses
|
| | | | [•] | | |
Printing expenses
|
| | | | [•] | | |
Mailing expenses
|
| | | | [•] | | |
Total
|
| | | | [•] | | |
Name
|
| |
Age
|
| |
Citizenship
|
| |
Current Position and Office
|
|
B. Frederick Becker | | |
77
|
| | US citizen | | |
Director, Chairman of the Human Resources and Compensation Committee, Chairman of the Nominating and Governance Committee, Member of the Audit Committee
|
|
Sharon A. Beesley | | |
67
|
| |
British, Canadian
and Irish citizen |
| |
Director, Member of the Nominating and Governance Committee
|
|
Robert J. Campbell
|
| |
75
|
| |
US citizen
|
| | Director, Chairman of the Board of Directors, Chairman of the Audit Committee, Chairman of the Investment Committee, Chairman of the Executive Committee, Member of the Human Resources and Compensation Committee, Member of the Nominating and Governance Committee | |
James D. Carey | | |
58
|
| | US citizen | | |
Director, Member of the Investment Committee
|
|
Susan L. Cross | | |
64
|
| | US citizen | | |
Director, Member of the Audit Committee, Member of the Risk Committee
|
|
Hans-Peter Gerhardt
|
| |
68
|
| | German citizen | | |
Director, Member of the Human Resources and Compensation Committee, Member of the Risk Committee, Member of the Executive Committee
|
|
Name
|
| |
Age
|
| |
Citizenship
|
| |
Current Position and Office
|
|
Orla Gregory | | |
50
|
| | Irish citizen | | |
Director
|
|
Myron Hendry | | |
75
|
| | US citizen | | |
Director, Member of the Nominating and Governance Committee, Member of the Risk Committee
|
|
Paul J. O’Shea | | |
66
|
| |
Bermuda and
Irish citizen |
| |
Director, Member of the Executive Committee
|
|
Hitesh Patel | | |
63
|
| | UK citizen | | |
Director, Chairman of the Risk Committee, Member of the Audit Committee, Member of the Nominating and Governance Committee
|
|
Dominic Silvester | | |
63
|
| | UK citizen | | |
Director, Member of the Investment Committee, Member of the Executive Committee
|
|
Poul A. Winslow | | |
58
|
| |
Canadian and
Danish citizen |
| |
Director, Member of the Human Resources and Compensation Committee, Member of the Investment Committee, Member of the Executive Committee
|
|
Name
|
| |
Age
|
| |
Citizenship
|
| |
Current Position and Office
|
|
Dominic Silvester | | |
63
|
| | UK citizen | | |
Chief Executive Officer, Director
|
|
Orla Gregory | | |
50
|
| | Irish citizen | | |
President, Director
|
|
Nazar Alobaidat | | |
46
|
| | US citizen | | |
Chief Investment Officer
|
|
Paul Brockman | | |
51
|
| |
UK and US citizen
|
| |
Chief Operating Officer
|
|
Audrey Taranto | | |
44
|
| | US citizen | | |
General Counsel & Corporate Secretary
|
|
Matthew Kirk | | |
50
|
| | US citizen | | |
Chief Financial Officer
|
|
David Ni | | |
40
|
| | US Citizen | | |
Chief Strategy Officer
|
|
Laurence Plumb | | |
40
|
| | UK citizen | | |
Chief of Business Operations
|
|
Seema Thaper | | |
43
|
| | UK citizen | | |
Chief Risk Officer
|
|
Name
|
| |
Citizenship
|
| |
Present Principal Occupation or Employment
(all have served five years or more in present position unless otherwise noted) |
|
Elizabeth DaSilva,
Director |
| | Bermuda, Portugal, United Kingdom | | | Bermuda Chief Operating Officer, Enstar Limited and Director of Group Legal Management, Enstar | |
Robert Morgan,
Director |
| | United Kingdom | | | Bermuda Chief Executive Officer, Enstar Limited and VP, Mergers and Acquisitions, Enstar | |
Name
|
| |
Citizenship
|
| |
Present Principal Occupation or Employment
(all have served five years or more in present position unless otherwise noted) |
|
Elizabeth DaSilva,
Director |
| | Bermuda, Portugal, United Kingdom | | | Bermuda Chief Operating Officer, Enstar Limited and Director of Group Legal Management, Enstar | |
Robert Morgan,
Director |
| | United Kingdom | | | Bermuda Chief Executive Officer, Enstar Limited and VP, Mergers and Acquisitions, Enstar | |
| | |
June 30,
|
| |
December 31,
|
| ||||||||||||
(in millions of U.S. dollars)
|
| |
2024
|
| |
2023
|
| |
2022
|
| |||||||||
Total investments
|
| | | $ | 16,623 | | | | | $ | 17,413 | | | | | $ | 18,210 | | |
Cash and cash equivalents
|
| | | $ | 469 | | | | | $ | 564 | | | | | $ | 822 | | |
Total assets
|
| | | $ | 19,896 | | | | | $ | 20,913 | | | | | $ | 22,154 | | |
Liabilities for losses and loss adjustment expenses
|
| | | $ | 10,148 | | | | | $ | 11,196 | | | | | $ | 11,721 | | |
Total liabilities
|
| | | $ | 14,016 | | | | | $ | 15,265 | | | | | $ | 16,826 | | |
Redeemable non-controlling interests
|
| | | $ | — | | | | | $ | — | | | | | $ | 168 | | |
Noncontrolling interests
|
| | | $ | 109 | | | | | $ | 113 | | | | | $ | 186 | | |
Total shareholders’ equity
|
| | | $ | 5,880 | | | | | $ | 5,648 | | | | | $ | 5,160 | | |
Total liabilities, redeemable noncontrolling interests and shareholders’ equity
|
| | | $ | 19,896 | | | | | $ | 20,913 | | | | | $ | 22,154 | | |
| | |
June 30,
|
| |
December 31,
|
| ||||||||||||||||||||||||
(in millions of U.S. dollars)
|
| |
2024
|
| |
2023
|
| |
2023
|
| |
2022
|
| |
2021
|
| |||||||||||||||
Total revenues
|
| | | $ | 486 | | | | | $ | 786 | | | | | $ | 1,429 | | | | | $ | (1,058) | | | | | $ | 789 | | |
Net income (loss)
|
| | | $ | 264 | | | | | $ | 558 | | | | | $ | 1,218 | | | | | $ | (945) | | | | | $ | 553 | | |
Net income (loss) attributable to Enstar
|
| | | $ | 263 | | | | | $ | 463 | | | | | $ | 1,118 | | | | | $ | (870) | | | | | $ | 538 | | |
Earnings (loss) per ordinary share attributable to
Enstar |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Basic
|
| | | $ | 16.72 | | | | | $ | 27.44 | | | | | $ | 69.22 | | | | | $ | (52.65) | | | | | $ | 25.33 | | |
Diluted
|
| | | $ | 16.49 | | | | | $ | 27.19 | | | | | $ | 68.47 | | | | | $ | (52.65) | | | | | $ | 24.94 | | |
Comprehensive income (loss)
|
| | | $ | 243 | | | | | $ | 284 | | | | | $ | 1,096 | | | | | $ | (1,156) | | | | | $ | 455 | | |
Comprehensive income (loss) attributable to Enstar
|
| | | $ | 242 | | | | | $ | 277 | | | | | $ | 1,084 | | | | | $ | (1,156) | | | | | $ | 440 | | |
GAAP measures | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
BVPS(1)
|
| | | $ | 358.74 | | | | | $ | — | | | | | $ | 343.45 | | | | | $ | 262.24 | | | | | $ | 329.20 | | |
ROE(2)
|
| | | | 9.8%(5) | | | | | | 19.9%(5) | | | | | | 24.2% | | | | | | (15.6)% | | | | | | 7.9% | | |
RLE(3)
|
| | | | 0.8% | | | | | | 0.2% | | | | | | 1.1% | | | | | | 6.3% | | | | | | 3.9% | | |
TIR%(4)
|
| | | | 5.0%(5) | | | | | | 6.1%(5) | | | | | | 7.2% | | | | | | (9.0)% | | | | | | 2.0% | | |
Name
|
| |
Number of Shares
|
| |
Beneficial
Ownership Percentages |
| ||||||
Stone Point Capital LLC(1)
|
| | | | 1,451,196 | | | | | | 9.5% | | |
The Vanguard Group(2)
|
| | | | 1,287,296 | | | | | | 8.5% | | |
BlackRock, Inc.(3)
|
| | | | 950,827 | | | | | | 6.2% | | |
Dominic Silvester(4)
|
| | | | 658,372 | | | | | | 4.3% | | |
Paul J. O’Shea(5)
|
| | | | 246,803 | | | | | | 1.6% | | |
Robert J. Campbell(6)
|
| | | | 187,687 | | | | | | 1.2% | | |
Orla Gregory(7)
|
| | | | 54,519 | | | | | | * | | |
Hans-Peter Gerhardt(8)
|
| | | | 15,230 | | | | | | * | | |
Paul Brockman(9)
|
| | | | 13,222 | | | | | | * | | |
Nazar Alobaidat(10)
|
| | | | 6,889 | | | | | | * | | |
B. Frederick Becker(11)
|
| | | | 6,078 | | | | | | * | | |
Matthew Kirk(12)
|
| | | | 2,144 | | | | | | * | | |
Susan L. Cross(13)
|
| | | | 1,929 | | | | | | * | | |
David Ni(14)
|
| | | | 1,610 | | | | | | * | | |
Sharon Beesley(15)
|
| | | | 1,427 | | | | | | * | | |
Hitesh Patel(16)
|
| | | | 7,229 | | | | | | * | | |
Name
|
| |
Number of Shares
|
| |
Beneficial
Ownership Percentages |
| ||||||
Poul A. Winslow(17)
|
| | | | 809 | | | | | | * | | |
James Carey(18)
|
| | | | 9,600 | | | | | | * | | |
Myron Hendry(19)
|
| | | | 2,193 | | | | | | * | | |
All Directors and Executive Officers as a Group
|
| | | | 1,215,741 | | | | | | 8.0% | | |
| | |
Market Price
|
| |||||||||
| | |
High
|
| |
Low
|
| ||||||
2022 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 286.89 | | | | | $ | 246.52 | | |
Second Quarter
|
| | | $ | 263.54 | | | | | $ | 203.38 | | |
Third Quarter
|
| | | $ | 219.74 | | | | | $ | 169.10 | | |
Fourth Quarter
|
| | | $ | 233.93 | | | | | $ | 169.04 | | |
2023 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 249.56 | | | | | $ | 217.52 | | |
Second Quarter
|
| | | $ | 271.39 | | | | | $ | 225.81 | | |
Third Quarter
|
| | | $ | 263.53 | | | | | $ | 236.47 | | |
Fourth Quarter
|
| | | $ | 300.98 | | | | | $ | 229.57 | | |
2024 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 312.17 | | | | | $ | 262.54 | | |
Second Quarter
|
| | | $ | 319.91 | | | | | $ | 275.02 | | |
Third Quarter (through date of filing)
|
| | | $ | 348.48 | | | | | $ | 305.81 | | |
| | |
Market Price
|
| |||||||||
| | |
High
|
| |
Low
|
| ||||||
2022 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 29.63 | | | | | $ | 25.28 | | |
Second Quarter
|
| | | $ | 26.33 | | | | | $ | 22.92 | | |
Third Quarter
|
| | | $ | 25.28 | | | | | $ | 23.16 | | |
Fourth Quarter
|
| | | $ | 24.00 | | | | | $ | 20.72 | | |
| | |
Market Price
|
| |||||||||
| | |
High
|
| |
Low
|
| ||||||
2023 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 24.48 | | | | | $ | 20.74 | | |
Second Quarter
|
| | | $ | 23.17 | | | | | $ | 21.20 | | |
Third Quarter
|
| | | $ | 25.06 | | | | | $ | 22.52 | | |
Fourth Quarter
|
| | | $ | 25.62 | | | | | $ | 22.01 | | |
2024 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 26.12 | | | | | $ | 24.96 | | |
Second Quarter
|
| | | $ | 25.84 | | | | | $ | 24.45 | | |
Third Quarter (through date of filing)
|
| | | $ | 25.50 | | | | | $ | 19.11 | | |
| | |
Market Price
|
| |||||||||
| | |
High
|
| |
Low
|
| ||||||
2022 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 27.06 | | | | | $ | 25.43 | | |
Second Quarter
|
| | | $ | 26.10 | | | | | $ | 23.52 | | |
Third Quarter
|
| | | $ | 25.67 | | | | | $ | 23.66 | | |
Fourth Quarter
|
| | | $ | 24.83 | | | | | $ | 22.00 | | |
2023 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 25.81 | | | | | $ | 21.91 | | |
Second Quarter
|
| | | $ | 24.41 | | | | | $ | 22.57 | | |
Third Quarter
|
| | | $ | 24.86 | | | | | $ | 23.12 | | |
Fourth Quarter
|
| | | $ | 25.02 | | | | | $ | 21.78 | | |
2024 | | | | | | | | | | | | | |
First Quarter
|
| | | $ | 25.47 | | | | | $ | 24.52 | | |
Second Quarter
|
| | | $ | 25.00 | | | | | $ | 23.62 | | |
Third Quarter (through date of filing)
|
| | | $ | 25.23 | | | | | $ | 18.59 | | |
|
Name
|
| |
Citizenship
|
| |
Present Principal Occupation or
Employment (all have served five years or more in present position unless otherwise noted) |
|
|
Joshua Easterly
|
| |
USA
|
| |
Co-Founding Partner,
Co-President and Co-Chief Investment Officer, Sixth Street |
|
|
Anthony Michael Muscolino
|
| |
USA
|
| |
Co-Founding Partner,
Sixth Street |
|
|
Jennifer Gordon
|
| |
USA
|
| |
Partner and Chief Compliance Officer, Sixth Street
|
|
|
Name
|
| |
Citizenship
|
| |
Present Principal Occupation or
Employment (all have served five years or more in present position unless otherwise noted) |
|
|
Joshua Easterly
|
| |
USA
|
| |
Co-Founding Partner,
Co-President and Co-Chief Investment Officer, Sixth Street |
|
|
Anthony Michael Muscolino
|
| |
USA
|
| |
Co-Founding Partner,
Sixth Street |
|
|
Jennifer Gordon
|
| |
USA
|
| |
Partner and Chief Compliance Officer, Sixth Street
|
|
| | |
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Exhibits | | | |||||
|
| | |||||
|
| | |||||
|
| | |||||
|
| | |||||
|
| |
Name
|
| |
Address
|
|
Elizabeth DaSilva | | | 26 Reid Street, 4th Floor, Hamilton HM 11, Bermuda | |
Robert Morgan | | | 26 Reid Street, 4th Floor, Hamilton HM 11, Bermuda | |
| EXECUTED for and on behalf of | | | |||||
| Deer Ltd. | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | | |
| EXECUTED for and on behalf of | | | |||||
| Deer Merger Sub Ltd. | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | | |
| EXECUTED for and on behalf of | | | |||||
| Enstar Group Limited | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | |
Name
|
| |
Address
|
|
Elizabeth DaSilva | | |
26 Reid Street, 4th Floor, Hamilton HM 11, Bermuda
|
|
Robert Morgan | | |
26 Reid Street, 4th Floor, Hamilton HM 11, Bermuda
|
|
| EXECUTED for and on behalf of | | | |||||
| Deer Ltd. | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | | |
| EXECUTED for and on behalf of | | | |||||
| Enstar Group Limited | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | |
Name
|
| |
Address
|
|
A Michael Muscolino | | |
1 Letterman Drive Building B, Suite B6-100
San Francisco, CA 94129, USA |
|
Joshua Peck | | |
1 Letterman Drive Building B, Suite B6-100
San Francisco, CA 94129, USA |
|
Joshua Easterly | | |
888 7th Avenue, 41st Floor, New York, NY 10106, USA
|
|
| EXECUTED for and on behalf of | | | |||||
| Elk Bidco Limited | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | | |
| EXECUTED for and on behalf of | | | |||||
| Elk Merger Sub Limited | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | | |
| EXECUTED for and on behalf of | | | |||||
| Enstar Group Limited | | | |||||
| By: | | | | | | | |
| Name: | | | | | | | |
| Title: | | | | | | |
|
July 29, 2024
Board of Directors
Enstar Group Limited Windsor Place, 3rd Floor 22 Queen Street Hamilton HM 11, Bermuda |
| |
|
|
Calculation of Filing Fee Tables |
Table 1: Transaction Valuation |
---|
Proposed Maximum Aggregate Value of Transaction |
Fee Rate |
Amount of Filing Fee |
||
---|---|---|---|---|
|
1 |
$
|
|
$
|
Fees Previously Paid | ||||
Total Transaction Valuation: |
$
|
|||
Total Fees Due for Filing: |
$
|
|||
Total Fees Previously Paid: |
$
|
|||
Total Fee Offsets: |
$
|
|||
Net Fee Due: |
$
|
Offering Note |
1 |
|
||||||
|
Submission |
Aug. 30, 2024 |
---|---|
Submission [Line Items] | |
Central Index Key | 0001363829 |
Registrant Name | Enstar Group LTD |
Form Type | SC 14A |
Submission Type | PREM14A |
Fee Exhibit Type | EX-FILING FEES |
Offerings - Offering: 1 |
Aug. 30, 2024
USD ($)
|
---|---|
Offering: | |
Fee Previously Paid | false |
Rule 0-11 | true |
Transaction Valuation | $ 5,175,781,495.30 |
Fee Rate | 0.01476% |
Amount of Registration Fee | $ 763,945.35 |
Offering Note | (1) Title of each class of securities to which transaction applies: Enstar Group Limited ordinary shares, par value $1.00 per share ("Enstar Ordinary Shares"). (2) Aggregate number of securities to which transaction applies: As of August 28, 2024, the maximum number of Enstar Ordinary Shares to which this transaction applies is estimated to be 15,657,512, which consists of (a) 14,666,024 issued and outstanding Enstar Ordinary Shares (including 2,035 issued and outstanding Enstar Ordinary Shares awarded subject solely to service-based vesting requirements and not performance based vesting requirements), which may be entitled to receive the total per share price of $338; (b) 168,626 Enstar Ordinary Shares underlying outstanding restricted share unit awards subject solely to service-based vesting requirements and not performance-based vesting requirements, which may be entitled to receive the total per share price of $338; (c) 257,232 Enstar Ordinary Shares underlying outstanding performance share unit awards subject to performance-based vesting requirements (assuming such awards vest at their maximum level), which may be entitled to receive the total per share price of $338; and (d) 565,630 Enstar Ordinary Shares held subject to that certain Joint Stock Ownership Agreement by and among Enstar Group Limited, Dominic F. Silvester and Zedra Trust Company (Guernsey) Limited dated as of January 21, 2020, as amended and restated as of July 1, 2022 (the "JSOP"), which may be entitled to receive the difference between the total per share price of $338 and $205.89, in each case subject to any required withholding of taxes. (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11: Solely for the purpose of calculating the filing fee, the underlying value of the transaction was calculated based on the sum of (a) the product of 14,666,024 issued and outstanding Enstar Ordinary Shares (including 2,035 issued and outstanding Enstar Ordinary Shares awarded subject solely to service-based vesting requirements and not performance-based vesting requirements) and the total per share price of $338; (b) the product of 168,626 Enstar Ordinary Shares underlying outstanding restricted share unit awards subject solely to service-based vesting requirements and not performance-based vesting requirements and the total per share price of $338; (c) the product of 257,232 Enstar Ordinary Shares underlying outstanding performance share unit awards subject to performance-based vesting requirements (assuming such awards vest at their maximum level) and the total per share price of $338; and (d) the product of 565,630 Enstar Ordinary Shares held subject to the JSOP and the difference between the total per share price of $338 and $205.89, in each case subject to any required withholding of taxes. (4) In accordance with Section 14(g) of the Securities Exchange Act of 1934, as amended, and Exchange Act Rule 0-11, the filing fee was determined by multiplying the sum calculated in note (3) above by 0.00014760. |
Fees Summary |
Aug. 30, 2024
USD ($)
|
---|---|
Fees Summary [Line Items] | |
Previously Paid Amount | $ 0.00 |
Total Fee Amount | 763,945.35 |
Total Transaction Valuation | 5,175,781,495.30 |
Total Offset Amount | 0.00 |
Net Fee | $ 763,945.35 |
1 Year Enstar Chart |
1 Month Enstar Chart |
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