International specialist legacy group, Compre, has completed the acquisition of a $417 million legacy liability portfolio from SiriusPoint, having received all necessary regulatory approvals.
The transaction, which was announced in August, structured as a loss portfolio transfer, has been underwritten by Compre’s class 3A Bermudian reinsurer, Pallas Reinsurance Company.
The portfolio comprises asbestos, environmental, and workers’ compensation liabilities.
Compre CEO Will Bridger said: “I am extremely pleased to announce the completion of our transaction with SiriusPoint, which is another milestone for Compre in further building our presence in the US market.
“This transaction also demonstrates our growing capabilities and capacity, while continuing to provide a bespoke service to our clients.”
