Bermuda-domiciled legacy group Compre has acquired two portfolios of European casualty and motor liabilities from separate undisclosed international insurance groups.
According to Compre, all necessary approvals have been granted by Bermudian and European regulators.
This allows the firm’s class 3B Bermudian reinsurer, Pallas Reinsurance Company Ltd., to reinsure approximately €200m of reserves across France, Germany, Italy and the Netherlands, “providing both clients with economic and operational finality”.
Marialuisa Petrella, European claims director, Compre, commented, “We are delighted to have been able to assist our clients in achieving their strategic objectives with regard to these portfolios and look forward to working to achieve an excellent outcome for all stakeholders.”
Simon Hawkins, CEO Europe, Compre, added, “I am extremely pleased to announce these additional transactions, having worked closely with our clients to structure solutions that meet their capital and operational objectives.
“These transactions demonstrate how our experience in the European liability market continues to be valued by our clients following an excellent year for Compre in 2023.”
