Bermudian run-off specialist Enstar Group reported net earnings of $798.6 million for the second quarter, driven by gains in its investment portfolio as stock and bond markets rebounded. The profit broke down to $36.65 per share and compared to net income of $231.8 million, or $10.70 per share, for the same period of 2019. For the first six months of the year, Enstar posted net income of $281.7 million, or $12.93 per share, compared to $590.6 million, or $27.26 per share in the first half of 2019.Enstar said the key driver of its second-quarter results were net realised and unrealised gains of $967.6 million for the three months ended June 30, 2020, including $550.2 million relating to other investments and equities and $417.4 million relating to fixed-income securities.The main business of Enstar, which is headquartered in offices in Windsor Place on Queen Street, Hamilton, is to acquire and manage insurers and books of business in run-off: that is, they have stopped writing new business but their assets are managed to meet future claims.Enstar’s ordinary shareholders’ equity at June 30, 2020 amounted to $4.68 billion, or $213.06 per share, up from $4.33 billion, or $197.93 per share, at the end of last year.Enstar’s shares gained $6.79, or 3.88 per cent, to close at $181.58 on the Nasdaq Stock Exchange yesterday.