Enstar Group Limited Reports Second Quarter Results

8/2/2012 6:52 AM EST

Enstar Group Limited
Press release

Enstar Group Limited Reports Second Quarter Results

HAMILTON, Bermuda, Aug. 2, 2012 (GLOBE NEWSWIRE) -- Enstar Group Limited
(Nasdaq:ESGR) filed its quarterly report on Form 10-Q with the SEC earlier
today, reporting its earnings and financial position for the three and six
months ended June 30, 2012. 

Enstar reported consolidated net earnings of $40.7 million (or $2.44 per fully
diluted share) for the three months ended June 30, 2012 and $50.4 million (or
$3.02 per fully diluted share) for the six months ended June 30, 2012, compared
to $9.4 million (or $0.66 per fully diluted share) for the three months ended
June 30, 2011 and $12.9 million (or $0.94 per fully diluted share) for the six
months ended June 30, 2011. 

Enstar's shareholders' equity at June 30, 2012 amounted to $1.44 billion
(excluding noncontrolling interest of $249.3 million) (or $86.04 per fully
diluted share), which was up from $1.39 billion (excluding noncontrolling
interest of $297.3 million) (or $82.97 per fully diluted share) at December 31,
2011. The Form 10-Q, which is available on Enstar's website,
www.enstargroup.com, contains a more detailed description of Enstar's business
and financial results. 

Enstar, a Bermuda company, acquires and manages insurance and reinsurance
companies in run-off and portfolios of insurance and reinsurance business in
run-off, and provides management, consultancy and other services to the
insurance and reinsurance industry. 

The Enstar Group Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5734 

This press release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements include statements regarding the intent, belief or current
expectations of Enstar and its management team. Prospective investors are
cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors. Important risk factors regarding Enstar may be found
under the heading "Risk Factors" in Enstar's Form 10-K for the year ended
December 31, 2011, and are incorporated herein by reference. Furthermore,
Enstar undertakes no obligation to update any written or oral forward-looking
statements of publicly announce any updates or revisions to any of the
forward-looking statements contained herein, to reflect any change in its
expectations with regard thereto or any change in events, conditions,
circumstances or assumptions underlying such statements, except as required by
law. 


         CONTACT: Richard J. Harris
         (441) 292-3645