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Enstar

Financials

Price	191.39	EPS	29
Shares	22	P/E	7
MCap	4,161	P/FCF	6
Net Debt	-130	EBIT	689
TEV	4,031	TEV/EBIT	6
TTM 2019-09-30, in MM, except price, ratios

Filings

10-Q	2020-06-30	Filed 2020-08-10
10-Q	2020-03-31	Filed 2020-05-07
10-K	2019-12-31	Filed 2020-02-27
10-Q	2019-09-30	Filed 2019-11-07
10-Q	2019-06-30	Filed 2019-08-06
10-Q	2019-03-31	Filed 2019-05-08
10-K	2018-12-31	Filed 2019-03-01
10-Q	2018-09-30	Filed 2018-11-08
10-Q	2018-06-30	Filed 2018-08-02
10-Q	2018-03-31	Filed 2018-05-08
10-K	2017-12-31	Filed 2018-02-28
10-Q	2017-09-30	Filed 2017-11-08
10-Q	2017-06-30	Filed 2017-08-03
10-Q	2017-03-31	Filed 2017-05-08
10-K	2016-12-31	Filed 2017-02-27
10-Q	2016-09-30	Filed 2016-11-08
10-Q	2016-06-30	Filed 2016-08-05
10-Q	2016-03-31	Filed 2016-05-06
10-K	2015-12-31	Filed 2016-02-29
10-Q	2015-09-30	Filed 2015-11-09
10-Q	2015-06-30	Filed 2015-08-07
10-Q	2015-03-31	Filed 2015-05-11
10-K	2014-12-31	Filed 2015-03-02
10-Q	2014-09-30	Filed 2014-11-10
10-Q	2014-06-30	Filed 2014-08-11
10-Q	2014-03-31	Filed 2014-05-09
10-K	2013-12-31	Filed 2014-03-03
10-Q	2013-09-30	Filed 2013-11-07
10-Q	2013-06-30	Filed 2013-08-09
10-Q	2013-03-31	Filed 2013-05-10
10-K	2012-12-31	Filed 2013-03-01
10-Q	2012-09-30	Filed 2012-11-08
10-Q	2012-06-30	Filed 2012-08-02
10-Q	2012-03-31	Filed 2012-05-04
10-K	2011-12-31	Filed 2012-02-24
10-Q	2011-09-30	Filed 2011-11-04
10-Q	2011-06-30	Filed 2011-08-05
10-Q	2011-03-31	Filed 2011-05-06
10-K	2010-12-31	Filed 2011-03-07
10-Q	2010-09-30	Filed 2010-11-05
10-Q	2010-06-30	Filed 2010-08-06
10-Q	2010-03-31	Filed 2010-05-07
10-K	2009-12-31	Filed 2010-03-04

Reports

8-K	2020-08-26	Enter Agreement, Off-BS Arrangement, Exhibits
8-K	2020-08-21	Officers
8-K	2020-08-19	Other Events, Exhibits
8-K	2020-08-13	Enter Agreement, Exhibits
8-K	2020-07-14	Enter Agreement, Officers, Exhibits
8-K	2020-06-10
8-K	2020-06-10
8-K	2020-06-03
8-K	2020-04-06
8-K	2020-03-31
8-K	2020-03-23
8-K	2020-03-09
8-K	2020-03-02
8-K	2020-02-21
8-K	2020-01-21
8-K	2019-12-09
8-K	2019-11-25
8-K	2019-08-05
8-K	2019-06-11
8-K	2019-05-28
8-K	2019-05-08
8-K	2019-03-26
8-K	2018-12-27
8-K	2018-12-11
8-K	2018-11-29
8-K	2018-11-21
8-K	2018-11-14
8-K	2018-11-07
8-K	2018-09-18
8-K	2018-08-31
8-K	2018-08-16
8-K	2018-07-23
8-K	2018-06-27
8-K	2018-06-20
8-K	2018-06-13
8-K	2018-05-14
8-K	2018-02-02
8-K	2017-12-28

Enstar Earnings 2020-06-30

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

esgr-20200630

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020

Commission File Number 001-33289

ENSTAR GROUP LIMITED

(Exact name of Registrant as specified in its charter)


BERMUDA			N/A
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

Windsor Place, 3rd Floor, 22 Queen Street, Hamilton HM JX, Bermuda

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (441) 292-3645

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on Which Registered

Ordinary shares, par value $1.00 per share

ESGR

The NASDAQ Stock Market

LLC

Depositary Shares, Each Representing a 1/1,000th Interest in a 7.00%

ESGRP

The NASDAQ Stock Market

LLC

Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Share, Series D, Par Value $1.00 Per Share

Depositary Shares, Each Representing a 1/1,000th Interest in a 7.00%

ESGRO

The NASDAQ Stock Market

LLC

Perpetual Non-Cumulative Preferred Share, Series E, Par Value $1.00 Per Share

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No þ

As at August 7, 2020, the registrant had outstanding 18,636,497 voting ordinary shares and 3,509,682 non-voting convertible ordinary shares, each par value $1.00 per share.

Table of Contents

Enstar Group Limited

Quarterly Report on Form 10-Q

For the Period Ended June 30, 2020

Table of Contents


		Page
PART I

Item 1.	Financial Statements	1
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	76
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	127
Item 4.	Controls and Procedures	131

PART II

Item 1.	Legal Proceedings	132
Item 1A.	Risk Factors	132
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	133
Item 6.	Exhibits	134

Table of Contents

PART I — FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


CONSOLIDATED FINANCIAL STATEMENTS			Page
Condensed Consolidated Balance Sheets as of June 30, 2020 (unaudited) and December 31, 2019			2
Condensed Consolidated Statements of Earnings (unaudited) for the three and six months ended June 30, 2020 and 2019			3
Condensed Consolidated Statements of Comprehensive Income (unaudited) for the three and six months ended June 30, 2020 and 2019			4
Condensed Consolidated Statements of Changes in Shareholders’ Equity (unaudited) for the three and six months ended June 30, 2020 and 2019			5
Condensed Consolidated Statements of Cash Flows (unaudited) for the six months ended June 30, 2020 and 2019			6
Notes to the Condensed Consolidated Financial Statements (Unaudited)			7
Note 1 - Significant Accounting Policies			7
Note 2 - Acquisitions			10
Note 3 - Significant New Business			10
Note 4 - Divestitures, Held-For-Sale Businesses and Discontinued Operations			11
Note 5 - Investments			15
Note 6 - Derivatives and Hedging Instruments			25
Note 7

EX-31.1	a2020q2-exx311ceocerti.htm
EX-31.2	a2020q2-exx312cfocerti.htm
EX-32.1	a2020q2-exx321ceocerti.htm
EX-32.2	a2020q2-exx322cfocerti.htm

ESGR 10Q Quarterly Report

Enstar Earnings 2020-06-30