HAMILTON, Bermuda, Sept. 9, 2013 (GLOBE NEWSWIRE) -- Enstar Group Limited (Nasdaq:ESGR) announced today that it, together with affiliates of Stone Point Capital LLC, has completed the previously announced acquisition of Arden Reinsurance Company Ltd. from Arden Holdings Ltd. Arden Reinsurance is a Bermuda-based reinsurance company that provides reinsurance to the Atrium Underwriting group of companies and is currently in the process of running off certain other discontinued businesses. The purchaser of Arden Reinsurance, Northshore Holdings Limited, is 60% owned by an Enstar subsidiary and 40% owned by funds affiliated with Stone Point. The purchase price for Arden Reinsurance was $79.6 million and was paid by Enstar and Stone Point in accordance with their ownership interests. Enstar's portion of the purchase price of $47.8 million was financed by a drawing under its revolving credit facility. As previously announced, Enstar signed definitive agreements with Arden Holdings Ltd. to acquire Arden Reinsurance and Atrium Underwriting Group Ltd. on June 5, 2013. Atrium is an underwriting business at Lloyd's of London, which manages Syndicate 609 and provides approximately one quarter of the Syndicate's capital. The Atrium acquisition remains conditioned on the receipt of regulatory approvals and satisfaction of various customary closing conditions and is expected to close in the fourth quarter of 2013. Enstar and Stone Point will also partner in the Atrium transaction, taking 60% and 40% interests, respectively. About Enstar Enstar, a Bermuda company, acquires and manages insurance and reinsurance companies in run-off and portfolios of insurance and reinsurance business in run-off, and provides management, consultancy and other services to the insurance and reinsurance industry. Enstar recently announced its expansion into live underwriting with its June 2013 definitive agreement to acquire Atrium Underwriting Group Ltd. and its July 2013 definitive agreement to acquire Torus Insurance Holdings Limited. About Stone Point Stone Point is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed five private equity funds —the Trident Funds —with aggregate committed capital of more than $9 billion. In addition to the capital invested by the Trident Funds, Stone Point has secured approximately $6 billion of equity co-investments since 2001. Stone Point targets investments in the global financial services industry, including investments in insurance and reinsurance companies, banks and depository institutions, companies that provide outsourced services to financial institutions, asset management firms, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies.