AXIS Capital Holdings Limited announced the completion of its loss portfolio transfer (LPT) transaction with Cavello Bay Reinsurance Limited, a wholly-owned subsidiary of Enstar Group Limited, on April 24, 2025.
The LPT agreement covers reinsurance segment reserves totaling $3.1 billion at September 30, 2024, predominantly related to casualty portfolios from 2021 and prior underwriting years.
AXIS retroceded $2.3 billion of these reserves to Enstar through a 75% ground-up quota share structure. The completion of this transaction, following regulatory approvals, strengthens AXIS's balance sheet and aligns with its strategy to reduce volatility.
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