AXA Liabilities Managers has acquired the reinsurance portfolio of Gothaer Group, which has been in run-off since Gothaer Re ceased trading in 2004.
The deal was confirmed following approval by the German Federal Financial Supervisory Authority on June 26, with Guy Carpenter having supported Gothaer at all stages in the transaction process.
Guy Carpenter & Company, the reinsurance broker and wholly owned subsidiary of Marsh & McLennan Companies, acted as sole transactional advisor on the successful transfer.
The portfolio was composed primarily of European Motor Third Party Liability and European General Liability risks.
Axel Flöring, Chief Executive Officer (CEO), DACH region, Guy Carpenter, said, “Guy Carpenter is very pleased that by working closely with Gothaer we have been able to develop a solution which has facilitated the transfer of all economic and legal obligations, including claims handling, thereby delivering full closure for the group.”
Frank Achtert, Head of Capital Optimisation, Strategic Advisory EMEA region, Guy Carpenter, added, “This is one of a series of capital-related transactions which have been structured by Guy Carpenter DACH within the last 24 months.”
“This reflects the consistent development of our business model which sees us expand beyond the role of a pure reinsurance broker to become a more comprehensive risk and capital advisory service provider.”