Advertise with Reinsurance News


Reinsurance News

Compre completes trio of run-off acquisitions

14th June 2019 - Author: Luke Gallin

Insurance and reinsurance legacy specialist, Compre has signed three transactions involving the share of the Gibbon Pools held by Basler Versicherung AG (Baloise), Helvetia Swiss Insurance Company Ltd. (Helvetia), and an undisclosed European insurance group.

Under the transactions, Compre has acquired each company’s shares of the Gibbon Pools, which is made up of insurance and reinsurance business in run-off that has been underwritten by RW Gibbon (Underwriting Agencies) Ltd. and RW Gibbon & Son Ltd. between 1950-1972.

Compre completed a similar transaction in 2017, when it acquired the shares in the Gibbon Pools of AG Insurance SA, AXA Insurance Ltd., and Swiss Re International SE.

Compre’s Chief Executive Officer (CEO), Will Bridger, commented: “I am extremely pleased to announce these transactions, consolidating a complex legacy London Market pool and delivering true finality for three highly reputable counterparties and in a variety of jurisdictions. My sincere thanks to everyone involved for all their hard work to achieve this great result.”

The re/insurance legacy specialist has acquired Baloise’s entire UK branch liabilities, which include the firm’s share of the Gibbon Pools. Compre explains that this transaction includes a small portfolio underwritten directly by the Swiss entity, and is structured as an upfront loss portfolio transfer, followed by a Part VII transfer to ultimately provide Baloise with finality.

The firm has also provided finality solutions to Helvetia and the undisclosed European insurance group for their shares of the Gibbon Pools only.

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.