Net Earnings of $615.0 million and $896.7 million for the Three and Nine Months Ended September 30, 2020, primarily driven by strong investments performance 

Enstar

Enstar Group reports Q3 results. (Credit: FreeDigitalPhotos.net/IndypendenZ.)

Enstar Group filed its quarterly report on Form 10-Q with the SEC earlier today, reporting its earnings and financial position for the three and nine months ended September 30, 2020.

Enstar reported consolidated net earnings of $615.0 million (or $28.24 per fully diluted ordinary share) and  $896.7 million (or $41.14 per fully diluted ordinary share) for the three and nine months ended September 30, 2020, respectively, compared to consolidated net earnings of $117.7 million (or $5.42 per fully diluted ordinary share) and $708.3 million (or $32.58 per fully diluted ordinary share) for the three and nine months ended September 30, 2019, respectively.

The key drivers of net earnings were:

  • Net realized and unrealized gains of $500.0 million for the three months ended September 30, 2020, including $432.7 million relating to other investments and equities and $67.3 million relating to fixed income securities;
  • Net realized and unrealized gains of $838.6 million for the nine months ended September 30, 2020, including $631.5 million relating to other investments and equities and $207.1 million relating to fixed income securities;

Non-GAAP operating income was $574.4 million (or $26.37 per fully diluted ordinary share)  and  $804.2 million (or $36.89 per fully diluted ordinary share) for the three and nine months ended September 30, 2020, respectively, compared to non-GAAP operating income of $32.7 million (or $1.51 per fully diluted ordinary share) and $341.2 million (or $15.69 per fully diluted ordinary share) for the three and nine months ended September 30, 2019, respectively.

Enstar’s ordinary shareholders’ equity at September 30, 2020 amounted to $5,310.9 million (or $242.36 per fully diluted ordinary share), compared to $4,332.2 million (or $197.93 per fully diluted ordinary share) at December 31, 2019. The Form 10-Q, which is available on Enstar’s website, www.enstargroup.com, contains a more detailed description of Enstar’s business and financial results.