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Enstar Group Limited (ESGR)

Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. A market leader in completing legacy acquisitions, Enstar has acquired over 100 companies and portfolios since its formation in 2001.

Company profile

Ticker
ESGR, ESGRO
Exchange
CEO
Dominic Silvester
Employees
Incorporated
Location
Fiscal year end
Former names
Castlewood Holdings LTD
SEC CIK
Subsidiaries
AG Australia Holdings Limited • Alpha Insurance NV • B.H. Acquisition Limited • Brake Systems, Inc. • BWDAC, Inc. • Cavello Bay Reinsurance Limited • Clarendon National Insurance Company • Cranmore (UK) Limited • Cranmore (US) Inc. • Cranmore Asia Pacific Pty Limited ...
IRS number
999999999

ESGR stock data

Investment data

Data from SEC filings
12 long holdings
End of quarter 30 Jun 22
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$69.58M 3.88M 3.13M +24.0
$68.48M 5.55M 3.87M +43.7
$62.66M 1.7M 1.19M +43.0
$58.2M 3.76M 3.76M 0
$46.53M 510K 510K 0
$33.9M 732.31K 732.31K 0
$28.51M 588.06K 588.06K 0
$4.31M 56.1K 56.1K 0
$3.92M 333.07K 333.07K 0
$3.55M 624.42K 624.42K 0
$46K 1.4K 1.4K 0
$8K 1K 1K 0
915.71K EXIT
Holdings list only includes long positions. Only includes long positions.

Calendar

9 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.09B 1.09B 1.09B 1.09B 1.09B 1.09B
Cash burn (monthly) 16.33M 86.92M 176.67M 74.89M (no burn) (no burn)
Cash used (since last report) 49.94M 265.78M 540.22M 228.99M n/a n/a
Cash remaining 1.04B 820.22M 545.78M 857.01M n/a n/a
Runway (months of cash) 63.4 9.4 3.1 11.4 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Sep 22 Obaidat Nazar Al Ordinary Shares Payment of exercise Dispose F No No 201.73 8,776 1.77M 16,149
1 Jul 22 Campbell Robert J Share Unit Ordinary Shares Grant Acquire A No No 219.74 276.463 60.75K 22,982.878
1 Jul 22 Carey James D Share Unit Ordinary Shares Grant Acquire A No No 219.74 125.148 27.5K 7,831.199
1 Jul 22 Silvester Dominic Francis Michael Joint Share Ownership Interest Ordinary Shares Grant Acquire A Yes No 0 565,630 0 565,630
1 Jul 22 Silvester Dominic Francis Michael Joint Share Ownership Interest Ordinary Shares Sale back to company Dispose D Yes No 0 565,630 0 0
1 Jul 22 Patel Hiteshkumar R. Share Unit Ordinary Shares Grant Acquire A No No 219.74 130.154 28.6K 4,973.336
27.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 188 192 -2.1%
Opened positions 21 24 -12.5%
Closed positions 25 22 +13.6%
Increased positions 56 64 -12.5%
Reduced positions 69 61 +13.1%
13F shares Current Prev Q Change
Total value 2.66B 3.33B -20.2%
Total shares 12.18M 12.75M -4.5%
Total puts 1.9K 4.2K -54.8%
Total calls 5.5K 1.7K +223.5%
Total put/call ratio 0.3 2.5 -86.0%
Largest owners Shares Value Change
Stone Point Capital 1.55M $330.86M -5.5%
Canada Pension Plan Investment Board 1.5M $321.23M 0.0%
Vanguard 1.08M $231.64M +1.2%
Wellington Management 1.04M $222.09M -1.1%
BLK Blackrock 830.18K $177.64M -3.7%
FMR 820.61K $175.59M -0.5%
Beck Mack & Oliver 679.37K $145.37M -0.1%
Dimensional Fund Advisors 671.5K $143.68M +6.2%
Allspring Global Investments 369.37K $79.04M -0.4%
Fuller & Thaler Asset Management 332.46K $71.14M +30.7%
Largest transactions Shares Bought/sold Change
Capital World Investors 66K -481.05K -87.9%
Stone Point Capital 1.55M -89.79K -5.5%
Fuller & Thaler Asset Management 332.46K +78.11K +30.7%
STT State Street 267.53K -42.36K -13.7%
GS Goldman Sachs 157.89K -40.38K -20.4%
Dimensional Fund Advisors 671.5K +39.14K +6.2%
BLK Blackrock 830.18K -32.05K -3.7%
Point72 Asset Management 51.53K +25.7K +99.5%
TCWP 24.77K +24.77K NEW
Hotchkis & Wiley Capital Management 262.84K -21.61K -7.6%

Financial report summary

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Risks
  • Inadequate loss reserves could reduce our net earnings and capital surplus, which could have a materially adverse impact on our results of operations and financial condition.
  • We may not be able to sustain our growth through acquisitions.
  • We may not be able to realize the anticipated benefits of acquisitions, which may result in underperformance relative to our expectations and have a material adverse effect on our business, financial condition or results of operations.
  • Climate change may have an adverse impact on the returns from our run-off business as well as our investments, which could have an adverse effect on our results of operations or financial condition.
  • Our life and annuity business within Enhanzed Re is subject to the typical risks relating to life and annuity businesses, including the performance of assets to support the liabilities, the mismatch in asset/liability duration, and assumptions used to estimate reserves for future policy benefits proving to be incorrect.
  • The amount of statutory capital that we must hold in order to maintain our credit ratings and meet certain regulatory requirements can vary significantly and is sensitive to several factors.
  • We may require additional capital and credit in the future that may not be available or may only be available on unfavorable terms.
  • Our reinsurance subsidiaries are often required to provide collateral to ceding companies pursuant to their reinsurance contracts. Their ability to conduct business could be significantly and negatively affected if they are unable to do so or if any letters of credit posted as collateral cannot be renewed or are drawn upon by a ceding company.
  • Reinsurers may not satisfy their obligations to our reinsurance subsidiaries, which could result in significant losses or liquidity issues for us.
  • We are dependent on the ability of our subsidiaries to distribute funds to us.
  • Fluctuations in currency exchange rates may cause us to experience losses.
  • The value of our reinsurance subsidiaries’ investment portfolios and the investment income that our reinsurance subsidiaries receive from these portfolios may decline materially as a result of market fluctuations and economic conditions.
  • Our investments in alternative investments, strategic investments in joint ventures and/or entities accounted for using the equity method may be illiquid and volatile in terms of value and returns.
  • The valuation of our investments may include methodologies, estimations and assumptions that are subject to differing interpretations and could result in changes to investment valuations that may materially adversely affect our financial condition or results of operations.
  • The nature of our liquidity demands and the structure of our investment portfolios may adversely affect the performance of our investment portfolio and financial results, as well as our investing flexibility.
  • Insurance laws and regulations restrict our ability to operate, and any failure to comply with these laws and regulations, or any investigations, inquiries or demands by government authorities, may have a material adverse effect on our business.
  • Our business is subject to laws and regulations relating to sanctions and foreign corrupt practices, the violation of which could adversely affect our financial condition and results of operations.
  • We are dependent on our executive officers, directors and other key personnel and the loss of any of these individuals could adversely affect our business.
  • Some of our directors, large shareholders and their affiliates have interests and/or other involvement with entities that can create conflicts of interest, through related party transactions or competition.
  • Cybersecurity events or other difficulties with our information technology systems could disrupt our business, result in the loss of critical and confidential information, increased costs, and adversely impact our reputation and results of operations.
  • If outsourced providers such as third-party administrators, investment managers or other service providers were to breach obligations owed to us, our business and results of operations could be adversely affected.
  • U.S. tax reform legislation, various international tax transparency and economic substance initiatives, and possible future tax reform legislation and regulations could materially affect us and our shareholders.
  • We might incur unexpected U.S., U.K., Australia, or other tax liabilities if companies in our group that are incorporated outside those jurisdictions are determined to be carrying on a trade or business in such jurisdictions.
  • The market price for our securities may experience volatility, which could cause a potential loss of value to our investors, and our ordinary shares are thinly traded, so the market value of our ordinary shares may decline if large numbers of shares are sold.
  • A few significant shareholders may influence or control the direction of our business. If the ownership of our ordinary shares continues to be highly concentrated, it may limit the ability of other shareholders to influence significant corporate decisions.
  • Some aspects of our corporate structure and certain regulatory limitations may discourage third-party takeovers and other transactions or prevent the removal of our Board and management.
  • Bermuda Law differs from the laws in effect in the United States. Shareholders who own our shares may have more difficulty protecting their interests than shareholders of a U.S. corporation.
  • Certain regulatory and other constraints may limit our ability to pay dividends on our securities, and dividends on our preferred shares are non-cumulative.
  • Our ordinary and preferred shares are subordinate to our existing and future indebtedness and our ordinary shares rank junior to our outstanding preferred shares.
  • There is no limitation on our issuance of securities that rank equally with or senior to the preferred shares.
  • The voting rights of holders of our preferred shares and, in turn, the depositary shares representing our preferred shares are limited.
  • We have no obligation to maintain any listing of the depositary shares representing our outstanding preferred shares.
  • A classification of the depositary shares representing our preferred shares by the National Association of Insurance Commissioners may impact U.S. insurance companies that purchase our preferred shares.
  • Our preferred shares are subject to our rights of redemption.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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Removed: AA, announced, appointed, approach, commitment, derived, detailed, inclusive, insured, liquid, manager, movement, operation, political, published, strength, working