Compre, the independent insurance and reinsurance legacy specialist, today announces it has agreed to acquire Equinox CA Europe, a captive insurer of global engineering and construction conglomerate SNC-Lavalin.
The Ireland-based captive insured the activities of SNC-Lavalin’s business in France from 2008 until December 2015 when the subsidiary was sold.
Terms of the deal are confidential and completion is subject to regulatory approval from the Central Bank of Ireland. The acquisition, Compre’s first in Ireland and its first captive, further demonstrates its flexibility in adapting to new jurisdictions and ability to successfully complete a diverse range of legacy transactions.
Nick Steer, CEO of Compre, said: “I am delighted to announce this latest acquisition, our fourth this year, from a leading group in its field. This is our 11th company acquisition, which highlights Compre’s technical and creative ability to meet the spectrum of legacy owner needs and to address the issues some entities now face as Solvency II pressures come to the surface. It is further proof of our excellent reputation in the legacy field and Compre is in a strong position and looking forward to further transactions this year and beyond.”