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Compre, the Bermuda headquartered international legacy group, today announces it has received regulatory approval to acquire the French medical malpractice (“MedMal”) portfolio from a European based insurer for an undisclosed sum.
The deal, structured as a loss portfolio transfer to be followed by a legal transfer, is a further significant transaction that supports Compre’s ambition to build a centre of excellence for MedMal in Europe. The portfolio contains legacy, live and prospective risks through 2023. The transaction was brokered by Guy Carpenter.
Simon Hawkins, CEO Europe said: “I am delighted to announce our second acquisition of European MedMal legacy liabilities. We worked closely with the insurer to ensure the structure optimises capital release and provides operational finality. This transaction further demonstrates our client-focused approach, which ensured our client’s objectives were realised, and our commitment to building a centre of excellence for MedMal in Europe.”
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For further information please contact:
David Haggie / Richard Adams / Olivia Thomson, Haggie Partners
+44 20 7562 4444
Compre is a leading legacy specialist with over 30 years of experience in the acquisition and management of discontinued and legacy non-life insurance and reinsurance business. Compre has experience of acquiring most classes of direct and reinsurance business, including general liability, marine and motor liability, and US APH. Compre has operations in Bermuda, Finland, Germany, Malta, Switzerland, the UK, US and at Lloyd’s of London.