Enstar, Stone Point Nab Torus Insurance In $692M Deal

Law360, New York (July 9, 2013, 6:11 PM EDT) -- Enstar Group Ltd. and Stone Point Capital LLC are joining forces to pick up specialty insurance firm Torus Insurance Holdings Ltd. for $692 million from its current consortium of private equity and investment shareholder owners, the companies announced Tuesday.

Torus' two largest shareholders, First Reserve and Corsair Capital, will receive both Enstar shares and cash in the deal, while smaller undisclosed shareholders will receive straight cash, according to a statement. First Reserve will own an 11.5 percent interest in Enstar.

Enstar will lead the venture, contributing...
To view the full article, register now.