December 7, 2016 / 2:45 PM / 8 months ago

BRIEF-Enstar Group Limited announces reinsurance of QBE legacy U.S. Business

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Dec 7 (Reuters) - Enstar Group Ltd :

* Enstar Group Limited announces reinsurance of QBE legacy U.S. Business

* Under reinsurance transaction, Enstar's subsidiary will pledge a portion of premium as collateral to a subsidiary of QBE

* Enstar will also provide additional collateral and a limited parental guarantee

* Enstar group -unit entered agreement with unit of QBE insurance group limited to reinsure U.S. Multi-Line property and casualty business

* Enstar Group-Enstar's unit to assume gross reinsurance reserves of approximately $919 million (net reserves of $444 million) relating to portfolio Source text for Eikon: Further company coverage:

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