Enstar Group, through its wholly-owned subsidiary, has completed the acquisition of Belgium-based insurance firm Nationale Suisse Assurance from Helvetia Group, for around €39.7m ($44.4m).


The deal was first announced by both firms in February this year.

Nationale Suisse provides non-life specialty insurance and life insurance services in Belgium.

Enstar has renamed Nationale Suisse as Alpha Insurance, and will operate as part of its legacy businesses.

Under the deal, Enstar subsidiary within the StarStone Group has acquired two underwriting agencies, Vander Haeghen & Co and Arena.

Vander Haeghen provides luxury car and other specialist insurance products, while Arena is a specialized sports club insurance agency.

In January this year, Enstar Group subsidiary completed the acquisition of insurance group Companion Property and Casualty Insurance Company from Blue Cross and Blue Shield of South Carolina, for around $218m.

Based in South Carolina, Companion provides property, casualty, specialty and workers compensation services, in addition to fronting and third party administrative services.

Enstar Group, through its operating subsidiaries, manages diversified insurance businesses in Bermuda, the US, the UK, Continental Europe and Australia.

Image: Enstar Group has acquired Belgium-based insurance firm Nationale Suisse Assurance from Helvetia Group. Photo: courtesy of stockimages/FreeDigitalPhotos.net.