M&A Deal Summary

Enstar Group Acquires HSBC Insurance Company of Delaware

On September 6, 2012, Enstar Group acquired insurance company HSBC Insurance Company of Delaware from HSBC Holding

Acquisition Highlights
  • This is Enstar Group’s 5th transaction in the Insurance sector.
  • This is Enstar Group’s 4th transaction in the United States.
  • This is Enstar Group’s 2nd transaction in New Jersey.

M&A Deal Summary

Date 2012-09-06
Target HSBC Insurance Company of Delaware
Sector Insurance
Buyer(s) Enstar Group
Sellers(s) HSBC Holding
Deal Type Divestiture

Target

HSBC Insurance Company of Delaware

Jersey City,, New Jersey, United States
HSBC Insurance Company of Delaware provides insurance products and services.

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Buyer(S) 1

Buyer

Enstar Group

Hamilton, Bermuda

website


Category Company
Founded 1993
Sector Insurance
Employees792
Revenue 864M USD (2021)
DESCRIPTION

Enstar Group is a insurance run-off services company that specializes in acquiring and managing reserves associated with discontinued books of property & casualty insurance and reinsurance business on a global basis. Enstar Group was incorporated in 2001 and is based in Hamilton, Bermuda.


DEAL STATS #
Overall 5 of 15
Sector (Insurance) 5 of 13
Type (Divestiture) 3 of 9
State (New Jersey) 2 of 3
Country (United States) 4 of 9
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-06 Household Life Insurance Company of Delaware

Bridgewater,, New Jersey, United States

Household Life Insurance Company of Delaware is a provider of insurance products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-07 SeaBright Insurance Holdings

Seattle, Washington, United States

SeaBright Insurance Holdings is a underwriter of specialty workers? compensation insurance for the maritime and alternative dispute resolution markets.

Buy $252M

Seller(S) 1

SELLER

HSBC Holding

London, United Kingdom

website


Category Company
Founded 1865
Sector Financial Services
Employees219,199
Revenue 67.0B USD (2022)
DESCRIPTION

HSBC is a global banking and financial services company. HSBC dates back to 1865 and is based in London, United Kingdom


DEAL STATS #
Overall 7 of 10
Sector (Insurance) 1 of 3
Type (Divestiture) 6 of 9
State (New Jersey) 1 of 1
Country (United States) 4 of 4
Year (2012) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-13 HSBC - 37 Retail Banking Branches

United States

HSBC - 37 Retail Banking Branches, 26 branches are in its Western New York District and 11 are in its Rochester District, bringing to 100 the total number of KeyBank branches in those markets.

Sell $95M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-15 HSBC Reinsurance

Dublin,, Ireland

HSBC Reinsurance Limited is engaged in underwriting the proportional reinsurance treaties covering creditor, household, and travel risks related to banc assurance risks in the UK and Europe.

Sell -