Enstar’s losses mount, reach $1 billion
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Bermuda-based insurer Enstar Group Ltd. plunged posted a net loss of $1.2 billion for the first nine months of the year as compared to net earnings of $365 million in the year-ago comparable period, The Royal Gazette reported. The insurer recorded $109 million in run-off liability earnings in the third quarter of the year, driven by favorable performance of the workers' compensation and marine, aviation and transit lines of business, partially offset by adverse development on its general casualty and motor lines of business.
