Marlon Insurance acquires Copenhagen Reinsurance from Alm. Brand Forsikring

Marlon Insurance Company Limited, a wholly-owned subsidiary of Enstar Group Limited, has acquired Copenhagen Reinsurance Company, Ltd. from Alm. Brand Forsikring A/S for a consideration of DKK149.2 million ($29.87 million). The purchase price was financed from available cash on hand.

Enstar Group is a Bermuda-based company engaged in acquiring and managing insurance and reinsurance companies. Alm. Brand Forsikring is a provider of non-life insurance services, while Copenhagen Reinsurance is a reinsurance company. Both Alm. Brand Forsikring and Copenhagen Reinsurance are based in Denmark.

Announcement (May 29, 2009):

Nordic Run-Off Limited, a wholly-owned subsidiary of Enstar Group, has entered into a definitive agreement to acquire Copenhagen Reinsurance from Alm. Brand Forsikring for approximately $28 million. The purchase price is expected to be financed from available cash on hand.

The transaction is expected to close in the third quarter of 2009.

FIH PARTNERS A/S is acting as financial advisor to Alm. Brand Forsikring.

Deal Value (US$ Million) 29.87
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Completed: 2009-10-15