23/01/17
Compre, the independent insurance and reinsurance legacy specialist, today announces it has agreed to acquire Wüstenrot & Württembergische (W&W) AG’s Ridgwell Fox & Partners (RFP) pool legacy reinsurance business for an undisclosed sum. The W&W predecessor company, Württembergische Feuerversicherung AG, signed shares in RFP for underwriting years 1978 – 1986.
RFP is a reinsurance pool containing run-off liabilities of W&W and five other carriers. The deal follows Compre’s acquisitions of QBE’s and Allianz IARD’s RFP legacy reinsurance business in 2016. The transaction, structured as a legal business transfer and approved by BaFin, provides W&W with complete finality regarding its involvement with RFP. The acquisition represents Compre’s 24th 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 third acquisition of this year and our third involving a German counterparty, which highlights an increasing acceptance of business transfers as a viable solution available to owners of legacy portfolios across Europe.”
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