Enstar Group Limited Announces Pricing of Senior Notes

HAMILTON, Bermuda, March 07, 2017 -- Enstar Group Limited (“Enstar”) (Nasdaq:ESGR) today announced the pricing of $350 million aggregate principal amount of its 4.500% Senior Notes due 2022 (the “Notes”). The offering is expected to close on March 10, 2017, subject to satisfaction of customary closing conditions.

Enstar intends to use the net proceeds from the offering for the repayment of amounts outstanding under its credit facilities and any remaining net proceeds will be used for general corporate purposes. Barclays, Wells Fargo Securities, Lloyds Securities and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering, and nabSecurities, LLC is acting as co-manager.

The Notes are being offered pursuant to an effective shelf registration statement that has previously been filed with the Securities and Exchange Commission (the “SEC”). This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, or solicitation to buy, if at all, will be made solely by means of a prospectus and related prospectus supplement filed with the SEC. You may obtain these documents without charge from the SEC at www.sec.gov. Alternatively, you may request copies of these materials from the joint book-running managers by contacting Barclays Capital Inc. by calling toll-free 1-888-603-5847 or emailing [email protected] or Wells Fargo Securities, LLC by calling toll-free: 1-800-645-3751 or emailing [email protected].

About Enstar

Enstar is a multi-faceted insurance group that offers innovative capital release solutions and specialty underwriting capabilities through its network of group companies in Bermuda, the United States, the United Kingdom, Continental Europe, Australia, and other international locations. Enstar is a market leader in completing legacy acquisitions, having acquired over 75 companies and portfolios since its formation in 2001, and has over $12 billion in total assets. Enstar’s active underwriting businesses include the StarStone group of companies, an A- rated global specialty insurance group with multiple global underwriting platforms, and the Atrium group of companies, which manage and underwrite specialist insurance and reinsurance business for Lloyd's Syndicate 609. For further information about Enstar, see www.enstargroup.com.

Cautionary Statement

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. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, 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 can be found under the heading “Risk Factors” in Enstar’s Form 10-K for the year ended December 31, 2016 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: Mark Smith
Telephone: +1 (441) 292-3645