AM Best Comments on Credit Ratings of StarStone Insurance Bermuda Limited and Its Subsidiary Following Announced Acquisition of Ultimate Parent

LONDON--(BUSINESS WIRE)--AM Best has commented that the Credit Ratings (ratings) of StarStone Insurance Bermuda Limited (SIBL) (Bermuda) and its subsidiary, StarStone Insurance SE (SISE) (Lichtenstein), are unchanged following the 29 July 2024 announcement that their parent company, Enstar Group Limited (Enstar) [NASDAQ: ESGR], has entered into a definitive merger agreement under which Sixth Street will acquire Enstar, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the transaction.

AM Best does not expect the transaction to result in any material changes to SIBL or SISE’s business operations or rating fundamentals. Support that the companies receive from their ultimate parent, Enstar, is also expected to be unaffected. Nonetheless, AM Best will continue to monitor the situation.

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