Compre acquires two European liability portfolios
Press release
10 January 2024
Compre acquires two European liability portfolios
Compre Group Holdings Limited ("Compre"), the Bermuda-domiciled international legacy group, today announces the acquisition of two portfolios of European casualty and motor liabilities from separate undisclosed international insurance groups.
All necessary approvals have been granted by Bermudian and European regulators, allowing Compre's class 3B Bermudian reinsurer Pallas Reinsurance Company Ltd. to reinsure approximately €200m of reserves across France, Germany, Italy and the Netherlands, providing both clients with economic and operational finality.
Marialuisa Petrella, European claims director, Compre said "We are delighted to have been able to assist our clients in achieving their strategic objectives with regard to these portfolios and look forward to working to achieve an excellent outcome for all stakeholders."
Simon Hawkins, CEO Europe, Compre said "I am extremely pleased to announce these additional transactions, having worked closely with our clients to structure solutions that meet their capital and operational objectives. These transactions demonstrate how our experience in the European liability market continues to be valued by our clients following an excellent year for Compre in 2023."
- Ends -
For further information please contact:
Compre
David Haggie / Richard Adams / Olivia Thomson, Haggie Partners
+44 20 7562 4444
About Compre:
Compre is a leading legacy specialist with over 30 years of experience in the acquisition and management of discontinued and legacy non-life insurance and reinsurance business. Compre has experience of acquiring most classes of direct and reinsurance business, including general liability, marine and motor liability, and US APH. Compre has operations in Bermuda, Finland, Germany, Ireland, Malta, Switzerland, the UK and at Lloyd's.
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