Re/insurance legacy specialist Compre has acquired a legacy portfolio of re/insurance in run-off from AXA Insurance for an undisclosed sum.
The portfolio was initially underwritten by RW Gibbon & Son between 1962-1964; it’s the 26th portfolio deal completed by Compre to date.
Nick Steer, CEO of Compre, said; “I am extremely pleased to announce our sixth acquisition this year and our third involving the Gibbon pools. This follows a similar deal with Swiss Re International SE in January and fulfils our ambition of completing another pool-arrangement transaction this year.
“It underlines the demand for run-off solutions, and our expertise in providing finality for complex pool arrangements, and further highlights our excellent reputation among large European insurance groups.”
Compre has been active for over 30 years in the acquisition and management of discontinued and legacy non-life re/insurance lines and has acquired a total of 10 firms in run-off.
