Deal Snapshot
ENSTAR TO ACQUIRE FULL OWNERSHIP OF BERMUDA REINSURER KAYLARE
Tuesday 13 February 2018

Bermuda-based insurance group Enstar Group Ltd. (NASDAQ: ESGR) has signed an agreement to acquire a further 52% stake in KaylaRe Holdings Ltd., the parent company of Bermuda-based, Class 4 reinsurer KaylaRe Ltd., the company said.
Added to its existing 48% equity holding, the acquisition will give Enstar full ownership of KaylaRe. Enstar founded KaylaRe in 2016 alongside funds managed by Hillhouse Capital Management, Ltd. and the Trident V funds managed by Stone Point Capital LLC. In the transaction, valued at approximately USD 400m, Hillhouse and Stone Point will exchange their respective 44% and 8% shareholdings in KaylaRe for Enstar shares.


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Details
Date Published: 13/02/2018
Target: KaylaRe Holdings/ a further 52% stake
Country: Bermuda
Deal Size: 400m (USD)
Sector: Insurance
Type: Corporate acquisition
Financing: Stock
Status: Agreed
Vendor: Hillhouse and Stone Point
Buyer: Enstar Group
Buyer Advisor: Evercore Group
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