Published Oct. 19, 2015
Enstar Group Limited, a Bermuda-based company that acquired Companion Property & Casualty Insurance Company earlier this year, is establishing its U.S. subsidiary in Northeast Columbia.
The subsidiary, called Enstar US, is investing $500,000 in the Richland County operations and expects to create more than 60 jobs over the next nine months.
Enstar renamed Companion – a former subsidiary of BlueCross BlueShield of South Carolina – Sussex Insurance Company and retained all existing 120 positions.
Enstar specializes in the acquisition and management of diversified insurance businesses,
"The insurance industry is an important component of our local economy and today's announcement is further evidence it is alive and well,” said Richland County Council Chairman Torrey Rush. “We welcome Enstar to our corporate community and look forward to working with them as they continue to grow."
A market leader in completing legacy acquisitions, Enstar has acquired more than 65 companies and portfolios since its formation in 2001. Enstar Group, a publicly traded company, and its subsidiaries employ more than 1,300 workers around the world.
In January, Enstar Group closed on the $218 million acquisition of Companion Property & Casualty.
When it acquired Companion, Enstar said it planned to operate the business largely as part of its property and casualty legacy business, while working to ensure that Companion's policyholders continue to receive service.
Enstar is a publicly traded company on the NASDAQ stock market, established to acquire and manage insurance and reinsurance companies in run-off. Enstar also provides management, consulting and other services to the insurance and reinsurance industry.
Hiring for the new positions is currently underway. Those looking to apply should send a resume to USRecruiting@enstargroup.com.
For more information about Enstar Group Limited, visit www.enstargroup.com.