Enstar Group Limited Reports Third Quarter Results and Announces Appointment of New Director

11/8/2012 4:39 PM EST

Enstar Group Limited
Press release

Enstar Group Limited Reports Third Quarter Results and Announces Appointment of
New Director

HAMILTON, Bermuda, 2012-11-08 22:39 CET (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
nine months ended September 30, 2012. 

Enstar reported consolidated net earnings of $47.7 million (or $2.86 per fully
diluted share) for the three months ended September 30, 2012 and $98.1 million
(or $5.88 per fully diluted share) for the nine months ended September 30,
2012, compared to $12.1 million (or $0.83 per fully diluted share) for the
three months ended September 30, 2011 and $24.9 million (or $1.78 per fully
diluted share) for the nine months ended September 30, 2011. 

Enstar's shareholders' equity at September 30, 2012 amounted to $1,487.3
million (or $88.99 per fully diluted share) which was up from $1,386.1 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 also announced that on November 7, 2012, it appointed Kenneth J.
LeStrange to its Board of Directors. Mr. LeStrange, 55, is the former Chairman,
President and Chief Executive Officer of Endurance Specialty Holdings Ltd., a
Bermuda-based specialty provider of property and casualty insurance and
reinsurance, which he founded in 2001. He currently serves as Chairman of the
Board of S.A.C. Re Holdings, Ltd., the parent company of S.A.C. Re, a
Bermuda-based reinsurer, and a Director of Maxum Specialty Insurance Group, the
parent company of two Delaware domiciled insurers. 

"We are delighted to have Ken join our Board. Ken has considerable experience
in the insurance industry, which will be of enormous value to Enstar," said
Dominic Silvester, Chief Executive Officer. 

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 or 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