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Enstar Group closes KaylaRe Holdings deal

Enstar Group Ltd. has completed the acquisition of all outstanding shares and warrants of KaylaRe Holdings Ltd., following the receipt of all required regulatory approvals.

The news comes more than three months after Enstar announced that it agreed to acquire full ownership of the parent company of KaylaRe Ltd. Enstar founded KaylaRe Holdings in 2016 alongside funds managed by Hillhouse Capital Management Ltd. and the Trident V funds managed by Stone Point Capital LLC.

In consideration for the acquired shares and warrants of KaylaRe Holdings, Enstar issued 2,007,017 of its ordinary shares comprising 1,501,778 voting ordinary shares and 505,239 series E nonvoting ordinary shares to the shareholders of KaylaRe.