Enstar to remove direct cat exposure with closure of Enhanzed Re JV with Allianz
Published: Fri 19 Aug 2022
Enstar subsidiary Cavello Bay Reinsurance Limited and Allianz have agreed to commute or novate all of the reinsurance contracts written by the Enhanzed Re vehicle they jointly own, with $70mn of debt to be repaid to the German insurance giant and any excess capital distributed to both parties.