Enstar will assume approximately $1.3 billion of net loss and loss adjustment expense reserves and unearned premium reserves upon closing. Enstar, which will operate the business in run-off, expects to finance the purchase price through a combination of cash on hand and borrowings under its revolving credit facility. The transaction is expected to close in the fourth quarter of 2018 following regulatory approval. Maiden CEO designate Lawrence Metz, said: "Today's announcement of the sale of MRNA represents another step in our continuing strategic review.