18/01/17
Compre, the independent insurance and reinsurance legacy specialist, today announces it has provided a legacy solution to Swiss Re International SE (Swiss Re Int), a company incorporated in Luxembourg.
The transaction is in respect of insurance and reinsurance business in run-off underwritten by RW Gibbon (Underwriting Agencies) Ltd and RW Gibbon & Son Ltd (the Gibbon pools) in the years 1950-1972. Compre has provided Swiss Re Int with finality in respect of its participation in the Gibbon pools for an undisclosed sum.
The acquisition represents Compre’s 23rd portfolio deal and to date Compre has acquired 10 companies in run-off.
Nick Steer, CEO of Compre, said: “I am extremely pleased to announce our second acquisition this year and our first involving a Luxembourg counterparty. The transaction further underlines our ability to provide complete finality for complex pool arrangements and we hope to complete further transactions of this type during 2017. Demand for portfolio transfer deals in continental Europe is certainly increasing as companies better understand the implications of Solvency 2 and look to focus on their core businesses and release capital tied up in supporting legacy liabilities.”
22/02/21 Compre completes second Lloyd’s RITC with Coverys – AXA LM syndicate
15/02/21 Compre establishes Lloyd’s syndicate and completes Apollo RITC
30/11/20 Compre targets future growth with Cinven and BCI backing
14/10/20 Compre completes first US transaction and senior Bermuda hire
12/10/20 Compre strengthens board for further growth
15/09/20 Compre announces capital raise
02/07/20 Compre signs further legacy transaction with QBE
24/06/20 Compre announces approval of Class 3A reinsurer in Bermuda
07/11/19 Compre acquires further legacy portfolio from AG Insurance
20/12/18 Compre receives regulatory approval for Generali legacy transaction
12/12/17 Compre Completes Eighth Acquisition of 2017 and its Largest to Date
04/12/17 Compre Announces Succession Management Changes
16/11/17 Compre Announces Seventh Acquisition of 2017
04/09/17 Compre Announces Sixth Acquisition of the Year
21/08/17 Compre Completes Fifth Acquisition of the Year
03/07/17 Compre Launches Maltese Insurance Company
12/06/17 Compre Confirms Fourth Acquisition of 2017
23/01/17 Compre Announces Third Acquisition This Year