Leading specialist legacy acquirer Compre has today announced the signing of its second legacy transaction with QBE for an undisclosed sum.
This transaction follows Compre’s acquisition of QBE’s share of the Ridgwell Fox & Partners pool legacy reinsurance business in 2016.
“I am extremely pleased to announce the conclusion of our second transaction with QBE,” said Will Bridger, Compre Chief Executive Officer.
“Repeat transactions with counterparties such as QBE validate the value of our bespoke offering and client-centric approach.
“We believe in developing a close relationship with our clients and it is most rewarding when those relationships continue to deliver mutually beneficial solutions.”
This announcement follows news that Compre had secured regulatory approval in principle to establish a Class 3A reinsurer in Bermuda.
Over the coming weeks, Compre is set to work with the Bermuda Monetary Authority (BMA) to finalise the registration and licensing of the reinsurer.