21/08/17
Compre, the independent insurance and reinsurance legacy specialist, today announces it has acquired a further legacy portfolio from major Norwegian insurer Gjensidige Forsikring ASA* (Gjensidige) for an undisclosed sum.
The portfolio comprises US asbestos, pollution and health hazard (APH) risks underwritten between 1983 and 1985. The deal marks Compre’s 25th individual portfolio acquisition and its second from Gjensidige, after acquiring its marine and energy portfolio in February 2016.
Compre structured the transaction as a loss portfolio transfer followed by a business transfer, providing finality to the vendor in all respects. The arrangement also provides continuity as Compre currently manages all claims relating to the portfolio.
Nick Steer, CEO of Compre, said: “It gives me great pleasure to announce our fifth acquisition of the year and our second from leading Norwegian insurer Gjensidige Forsikring. Compre has a long track record of successfully managing US APH and this transaction is a further demonstration of our ability to provide large insurance groups with exit solutions for discontinued business.”
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