Bermuda-domiciled legacy reinsurer Compre Group Holdings Limited (Compre) has announced the completion of its acquisition of the CSE Group, a US subsidiary of Covéa.
The CSE Group includes two California-domiciled personal lines insurance carriers that ceased underwriting new business in 2024.
This marks the second transaction between Covéa and Compre, reinforcing Compre’s commitment to the US market.
In October 2022, Compre signed an agreement to acquire Covéa’s Irish subsidiary, Medical Insurance Company DAC (MIC), which provides general liability insurance covering professional medical malpractice risks.
Compre completed the MIC acquisition in September 2023, representing a significant step in building its centre of excellence for medical malpractice in Europe.
Porch had announced plans to acquire CSE in 2021, however, the following year, it was announced that Porch and Covéa had mutually agreed to terminate the transaction.
