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Sidley says it represented Markel in an Enstar reinsurance agreement
Sidley said it represented Markel Insurance in an adverse development cover reinsurance agreement with Enstar. The firm said the agreement covers a portfolio of Markel’s run-off global reinsurance business and certain exited insurance lines, supporting Markel’s focus on its core specialty insurance business.
Key points
- Sidley said the agreement covered approximately $4.8 billion in reserves.Sidley
- The firm said it provided $1.2 billion in adverse loss development protection above those reserves.Sidley
- Sidley said closing was expected in the fourth quarter of 2026, subject to regulatory approval and customary conditions.Sidley
- The firm said Michael Pinsel led its insurance team.Sidley