AM Best Comments on Credit Ratings of StarStone Insurance Bermuda Limited and Its Subsidiary Following Announced Acquisition of Ultimate Parent

JULY 29, 2024 12:40 PM (EDT)

AM Best Comments on Credit Ratings of StarStone Insurance Bermuda Limited and Its Subsidiary Following Announced Acquisition of Ultimate Parent

CONTACTS:

FOR IMMEDIATE RELEASE

LONDON - JULY 29, 2024 12:40 PM (EDT)
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.