Atrium

Atrium replaces Enstar 25% backing as it defies pandemic to post 2020 profit

Atrium ended a year when the industry was hit by Covid-19 and other cat losses by generating a strong underwriting profit in the last reporting period before Enstar sold down its stake in the Lloyd’s insurer and ended its capacity support for Syndicate 609.

Profits jump at Enstar on strong investment performance

Enstar reported third-quarter net profits that surged from $117.7mn to $615.0mn and operating profits that climbed from $32.7mn to $574.4mn driven by strong investment gains in its non-life run-off segment, while Atrium and StarStone returned to underwriting profit.

Stone Point to take 80% stake in Lloyd’s insurer Atrium; Enstar to grow StarStone US ownership

PE firm Stone Point Capital has entered into an agreement with Enstar to grow its stake in Lloyd’s insurer Atrium to 80 percent through its Trident V funds while Enstar’s ownership in the recapitalised StarStone US will increase to 26 percent as part of the exchange agreement.

StarStone premiums drop in Q2 as aerospace and marine portfolios shrink

Enstar recorded close to $20mn of Covid-19 claims in the second quarter across its two live underwriting platforms, StarStone and Atrium.

Atrium names Chaucer’s Stooke chair as Cook retires

Atrium Underwriters’ non-executive chairman Steve Cook is to leave the Lloyd’s managing agent after 25 years, with former Chaucer chair Chris Stooke set to take over the position from 1 January 2021.

Atrium’s Harries replaces Greensmith on LMG board

The London Market Group (LMG) has added Atrium’s Richard Harries to its board, replacing the former UK CEO of Axa XL Paul Greensmith.

StarStone International goes into run-off as Atrium gets renewal rights

StarStone’s international business will go into run-off with renewal rights to the book transferred to Enstar stablemate Atrium, which manages Lloyd’s Syndicate 609.

Lloyd’s targets data duplication with API to enhance e-placement

Lloyd’s of London has launched a new application programme interface (API) designed to reduce the need for double entry of data and documents to help London market brokers and underwriters place business electronically.

Atrium to post 2019 CR in region of 91 percent

Lloyd’s insurer Atrium will once again demonstrate its underwriting pedigree by bucking the trend on Lime Street to post improved results in 2019 and a combined ratio in the region of 91 percent, according to a 10-K filing by owner Enstar late last week.

Atrium parts ways with marine class underwriter Tomlin

Lloyd’s carrier Atrium’s class underwriter for marine property Richard Tomlin is set to leave the carrier, The Insurer can reveal.

Enstar’s live operations report Q3 underwriting losses

Bermudian live-to-legacy player Enstar has reported an operating profit in the third quarter, turning around a loss in the prior period, despite underwriting losses at Atrium and StarStone.

Enstar-backed Atrium rivals PE in advanced talks to acquire Neon

Enstar and Stone Point Capital backed Lloyd’s insurer Atrium is competing with the private equity firm Madison Dearborn to acquire the up for sale Lloyd’s carrier Neon, The Insurer can reveal.

Enstar withdraws sale process for StarStone

Legacy-to-live giant Enstar has withdrawn a sale process for its international specialty carrier StarStone to ensure no uncertainty continues into the industry’s key renewal season and at a time of possible buyer fatigue over the number of mid-to-lower tier carriers that are potentially for sale, re-Insurance.com can reveal.

Enstar profits climb 27% despite drag from Atrium and StarStone

Enstar’s operating income ballooned by over a quarter in the three-months before the end of June to hit $83mn despite a drag on bottom line from its up-for-sale businesses Atrium and StarStone.

Enstar weighs Atrium and StarStone sale in frothy M&A market

Legacy giant Enstar has confirmed the appointment of investment bank Evercore to sell its two live underwriting businesses.

Enstar slips into the red as losses erode Atrium and Starstone profits

An increased loss burden ate into Atrium’s profits in the first three months of the year as Enstar’s Lloyd’s arm’s combined ratio spiked 12.1 points to 94.9 percent.

Hurricanes push Starstone to underwriting loss as Atrium breaks even

The trio of Atlantic hurricanes that battered parts of the US and the Caribbean also took their toll on Starstone’s profits, while reserve releases kept fellow Enstar subsidiary Atrium in the black for 2017.