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Report: Enstar close to securing Novae reinsurance deal

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Report: Enstar close to securing Novae reinsurance deal

Enstar Group Ltd. is nearing a deal to reinsure-to-close Novae Group Plc's £850 million legacy book, Insurance Insider reported, citing sources.

Enstar is competing with an R&Q-Axa consortium for the book, which holds all business Novae wrote prior to Jan. 1, 2016.

AXIS Capital Holdings Ltd. finalized its acquisition of Novae Group in October.