Enstar acquires Seabright’s run-off

Bermuda-based Enstar Group, which specialises in acquiring and managing insurance and reinsurance companies in run-off, has completed its acquisition of Seabright Holdings.

Enstar has acquired Seabright for $252 million, or $11.1 per share in cash. Seabright’s reported total assets amount to $1.1 billion, with liabilities of approximately $745 million.

Seabright’s specialism is workers compensation insurance, but it also owns subsidiaries providing managed medical care services and wholesale brokerage.