Compre finalizes acquisitions of two European legal responsibility portfolios

Legacy specialist Compre has accomplished the acquisition of two European casualty and motor legal responsibility portfolios from undisclosed worldwide insurance coverage teams. The transaction has obtained all the required approvals from Bermudian and European regulatory authorities.

The acquisition permits Pallas Reinsurance Firm Ltd., Compre’s class 3B Bermudian reinsurer, to underwrite roughly €200 million in reserves. These reserves are unfold throughout a number of European international locations, together with France, Germany, Italy, and the Netherlands.

The deal can also be anticipated to offer financial and operational finality for each the consumer insurance coverage teams concerned.

“We’re delighted to have been capable of help our purchasers in reaching their strategic goals with regard to those portfolios and stay up for working to realize a wonderful final result for all stakeholders,” Compre European claims director Marialuisa Petrella mentioned.

“I’m extraordinarily happy to announce these extra transactions, having labored intently with our purchasers to construction options that meet their capital and operational goals. These transactions exhibit how our expertise within the European legal responsibility market continues to be valued by our purchasers following a wonderful yr for Compre in 2023,” Compre Europe CEO Simon Hawkins mentioned.

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