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Enstar begins fronting for ILS capital and property cat selectively
Enstar said it started fronting in select cases to diversify its income and broaden its client solutions, while remaining careful about tail risk in property catastrophe exposures.
Enstar, a legacy and run-off reinsurance specialist, has started fronting for insurance-linked securities capital providers, including ILS managers, Anguel Zaprianov said in an interview with Artemis at the 2026 Monte Carlo Rendez-vous event.
Zaprianov said the move is intended to diversify Enstar’s offerings and generate income, adding that the company has selectively begun fronting on the ILS side and on the property cat side. Enstar also said it is fronting for a casualty MGA in Bermuda, and that the specialty business involved is 100% reinsured.
He said Enstar is trying to balance how much tail risk it takes as part of ILS manager fronting engagements, noting that the company historically has not been taking property catastrophe risk. Zaprianov added that Enstar is “deliberate” about developing a few select partners rather than fronting for every client.
Enstar’s ILS fronting activity first came to light earlier this year, according to Artemis, after Florida’s Citizens Property Insurance Corporation included Cavello Bay reinsurer as a participant in signed lines disclosures tied to its mid-year 2026 reinsurance renewal. Artemis said Cavello Bay was listed as the fronting entity for some of Nephila Capital’s participations in that Florida Citizens renewal.