Jul 10, 2013

Posted by in Featured, Stock Market News | 0 Comments

Hot Stocks to Watch: Enstar Group Ltd. (NASDAQ:ESGR) and Interactive Brokers Group Inc. (NASDAQ:IBKR)

Hot Stocks to Watch: Enstar Group Ltd. (NASDAQ:ESGR) and Interactive Brokers Group Inc. (NASDAQ:IBKR)

Enstar Group Ltd. (NASDAQ:ESGR) has decided to purchase global specialty insurer, Torus Insurance Holdings Ltd., in a bid of $692 million, persisting its push into ‘live’ underwriting.

Torus gives us a chance to purchase a huge, international A- rated group of firms that both diversifies Enstar into the active market and enhances the opportunities accessible to our core legacy business, Enstar Chief Executive, Dominic Silvester, reported.

The recent purchase comes following Enstar reported in June it would purchase Atrium Underwriting Group Ltd. and Arden Reinsurance Co. for almost $183 million and $80 million, each.

Torus is the holding firm of six insurance vehicles that provide property, casualty and specialty insurance, along with reinsurance products.

Interactive Brokers Group Inc. (NASDAQ:IBKR) decided to pay a $300,000 fine for failure to appropriately register futures with the National Futures Association.

The NFA discovered that a small number of hedge funds that use Interactive Brokers to carry out and clear their US and global securities and futures trades had not been properly listed with the NFA. The firm was also unable to report futures brokers’ bank accounts to the NFA.

Shares were flat in the recent trading session, at $16.56, but have hiked 13% over the last 12 months.

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