Sec Form 4 Filing - Flowers J. Christopher @ Enstar Group LTD - 2012-04-28

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Flowers J. Christopher
2. Issuer Name and Ticker or Trading Symbol
Enstar Group LTD [ ESGR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
717 FIFTH AVENUE, 26TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
04/28/2012
(Street)
NEW YORK, NY10022
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Ordinary Shares 02/09/2012 G V 10,000 D $ 0 1,165,549 D
Ordinary Shares 04/28/2012 S( 2 ) 545,123 D $ 86.5 ( 2 ) 620,426 D
Ordinary Shares 04/28/2012 S( 2 ) 133,627 D $ 86.5 ( 2 ) 152,087 I By investment partnerships ( 1 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Flowers J. Christopher
717 FIFTH AVENUE
26TH FLOOR
NEW YORK, NY10022
X
Signatures
/s/ J. Christopher Flowers 05/01/2012
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Mr. Flowers holds an indirect interest in the reported securities through a pecuniary interest in, and the exercise of investment discretion over, 152,087 ordinary shares through (a) JCF Associates II Ltd., of which he is the sole director, on behalf of J.C. Flowers II L.P., J.C. Flowers II-A L.P. and J.C. Flowers II-B L.P. and (b) FSO GP Ltd., of which he is the sole director, on behalf of Financial Service Opportunities L.P. (collectively, the "Funds"). Mr. Flowers disclaims beneficial ownership of the ordinary shares held by the Funds except to the extent of any pecuniary interest therein. This disclosure shall not be construed as an admission that Mr. Flowers is the beneficial owner of the Funds' shares.
( 2 )The transactions reflected in this Form 4 are pursuant to a Stock Purchase Agreement, dated as of April 28, 2012, by and among Mr. Flowers, the Funds and the purchasers named therein, pursuant to which Mr. Flowers and the Funds agreed to sell 1,200,000 ordinary shares for $86.50 per share in two tranches. The first tranche of 678,750 shares, which is reflected on this Form 4, is scheduled to close on May 14, 2012. The second tranche of 521,250 shares, including 418,630 shares held by Mr. Flowers and 102,620 shares held by the Funds, will close as promptly as practicable following the purchasers' receipt of certain regulatory approvals. Additional amounts will be payable to Mr. Flowers and the Funds to the extent the closings occur after May 14, 2012.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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