A subsidiary of Enstar Group entered into an agreement to reinsure portfolios of Allianz Re's U.S. run-off business, assuming net reinsurance reserves of approximately $1.1 billion by reinsuring 50% of certain workers' compensation, construction defect, and asbestos, pollution and toxic tort business originally held by Fireman's Fund Insurance Company. Enstar will also provide consulting services with respect to the entire $2.2 billion portfolio, including Allianz Re's retained 50% share. Our firm represented Enstar Group in the transaction.
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